Real Estate Information

CHARLES TOWN — A table games debate scheduled for Thursday is attracting increased interest in Jefferson County, especially as the special June 9 referendum draws closer and early voting begins this week.

Four community leaders are scheduled to discuss whether or not to approve casino-style table games at Charles Town Races & Slots during a debate at 7 p.m. Thursday in the Robert C. Byrd Center for Legislative Studies at Shepherd University in Shepherdstown.

It is free and open to the public, and is sponsored by WEPM radio and The Journal.

Jefferson County Board of Education member Alan Sturm and retired businessman Walt Pellish plan to argue in favor of table games during the debate, while Delegate John Doyle, D-Jefferson, and the Rev. Douglas Fraim are scheduled to speak against table games.

Pellish is a member of the new coalition called YES! on the Jefferson County Table Game Revenues & Jobs Referendum. The group is made up of citizens, town and county leaders, educators, horse breeders, organizations and businesses that support allowing table games at the racetrack.

“During the past few weeks, over 650 Jefferson County residents have signed up as members of our coalition to show their support for a YES vote, and we’re growing daily,” Pellish said in a news release, which also said more information is available on the group’s Web site, www.yesforjeffersoncounty.com.

Doyle said recently that an organized group against table games hasn’t formed yet, but he said there are several individuals who have concerns about the potential impact of casino-style games in Jefferson County. Doyle said he thinks Jefferson County should get a higher percentage of revenue from table games.

Fraim said in an interview last week that he doesn’t want table games at Charles Town Races & Slots because of moral concerns.

“I believe this is an issue where certain people are just going to get hooked on this,” Fraim said, adding that he just doesn’t think table games should be allowed in the community.

He also said he was worried that children in the community will not be taught the dangers of gambling addictions, in regard to table games as well as slot machines and lottery games.

Those who support the referendum in Jefferson County have stressed the new jobs and millions of dollars in local funding that will be created. Individual Board of Education members spoke in favor of allowing table games during a meeting last week, and several other groups, including the Jefferson County Economic Development Authority, are also coming out in support of the referendum.

John Finamore, senior vice president of regional operations at Penn National Gaming Inc., which owns Charles Town Races & Slots, said he has a growing list of community groups and individuals who are endorsing table games in Jefferson County.

“People are responding very favorably,” Finamore said during a phone interview Friday, explaining that he has visited organizations and talked to them about the new jobs and increased funding that will result from allowing table games at the racetrack,

If table games are approved, Charles Town Races & Slots has plans to open 75 tables in the first expansion phase. Those 75 tables would probably offer blackjack, craps, roulette and “carnival games” like Caribbean stud and three-card poker. Finamore said 500 full-time, well-paying jobs would be created in that first phase: 300 to 350 dealer jobs, as well as jobs in security, housekeeping and beverage service.

Set percentages of table games revenue will benefit Jefferson County Schools, area horsemen, state senior in-home programs and other West Virginia programs, according to legislation passed this spring.

Finamore said the racetrack hasn’t advertised in local media yet, but it might choose to in coming weeks. For now, he said, the focus is on a grass-roots campaign of door-to-door visits, mailings and surveys.

He also said he respects the opinions of those who don’t support table games for moral reasons, but he does want to make sure all county voters are well-informed about the benefits for Jefferson County and West Virginia.

The state’s four counties with racetracks — Jefferson, Kanawha, Ohio and Hancock —have all scheduled special elections on June 9.

Early voting for the table games referendum begins this Friday in Jefferson County, and it will continue until June 6. Early voting takes place from 9 a.m. to 5 p.m. weekdays at the courthouse.

By BETH HENRY / Journal Staff Writer

Hello to the grapevine! Today we are talking about tasting. It is helpful to know the proper way to taste wine to evaluate it’s quality. This is really much easier than it is made out to be. First, pour some wine into the glass (2-3 ounces) and observe the color. Look for clarity and color saturation. Next you want to swirl the wine in the glass to expose it to air. This will help release the aromatics. Aromas are the main ingredient in taste so really give it a good swirl then put your nose in the glass and breathe in deeply. Sit back and take in the information your nose is giving you. Now to taste the wine. Take a good sip, perhaps a quarter of a mouthful, and swish it around the whole of your mouth. This need not be done loudly or impolitely, but it should be done. Just before swallowing the wine lean back your head slightly and take a bit of air in your mouth across the wine. This will release many more of the wine’s flavors. Swallow and enjoy the aftertaste. That is all there is to it. Sometimes people feel a bit self concious with the tasting process at first but if done properly you will be amazed how much more flavor and aroma are released. You paid for the wine, why not taste all of what it has to offer? I promise it will be worth it.

While we are talking about taste lets talk about a wine tasting party. half the fun of wine is it’s incredible variety. A tasting themed event is a great way to get to try lots of different wines. These can be as loose or formal as you choose. Invite some friend over and have them each bring a wine. I think it is fun and educational to serve the wines blind. This is easy, just get brown bags to cover the wine bottles and number them. Provide your guests with pen and paper. Let everyone taste through the wines and write down their favorites. Afterwards you can unveil the wines to see what everyone liked or disliked. Often people are very suprised to see what they preferred when they could not see the label.

You can also format an event like this as a food and wine pairs tasting. If you serve a few dishes and allow your guests to taste each dish with a variety of wines you can all see how the food and wines play off each other. For example it can be dramatic how different a piece of salmon tastes when paired with a light white, a rich white, and a light red. Use your imagination and have fun. These events are anything but stuffy and they are often very eye opening. You will learn a lot about wine and taste in general.

Next time: a general overview of the more widely available grape varietals and perhaps a few obscure ones as well. 

Hello, my name is Laird Marshall. I will be writing weekly on this site about all things wine. I hope to share some basic information for those new to the subject, some tasting notes on wines, and an easy forum for readers to ask questions about wine. I have spent fourteen years studying the subject and still find it fascinating. Wine is infused in western history as far back as we have kept a history. It is believed to predate breadmaking. Our art, literature, and cuisine are filled with references and homages to it. At it’s heart wine is about sharing and fellowship.

Oddly, for a beverage that has been around for so long many know next to nothing about it and worse; find it intimidating. Wine is about pleasure, it should be fun. The most important thing is to keep an open mind and to trust your palate. In the coming weeks we will offer overviews of grape flavor/aroma profiles, wine regions, and various outlets for purchasing wine. First up, a basic tool set for getting started.

To maximize your enjoyment a few things are essential. Most critical are the glasses. Many wines are never given the chance to be fully enjoyed because they are served in the wrong vessels. A good wine glass need not be expensive. Many are available for 3-5 dollars per stem. I suggest the local outlets or closeout stores. Look for a medium to large bowl (14 ounces or larger) with a relatively thin rim and avoid cut or colored glass. A good corkscrew is also a must. Finally a decanter is very helpful.

Next you will need to get the wine. There are several options when shopping for wine. First up is the grocery store. The grocery offers convenience and a low price markup on wine. The selection of a major grocery store has vastly improved in recent years as well. The downside of a grocery is the lack of a knowledgeable sales staff to assist you with advice. Next is the liquor store. These vary wildly in the quality of their selections and the knowledge of their staffs. They will often have a few more higher end selections to offer. There are also a number of specialty wine stores in the area. These tend to have more eclectic selections and more helpful advice. The markups here are a little higher to offset lower sales volumes. The benefit of having someone to help with your purchase is considerable if you do not know which wine to choose. These shops often offer wine tastings as well. Take advantage of these whenever possible. 

When you are purchasing wine it is important to remember that price is no guarantee of quality. Do not spend more than you are comfortable paying. There are thousands of delicious wines available for 5-10 dollars. If you are new to wine I highly recommend starting in this price range anyway so you can get a feel for the various grape flavor profiles. When starting out you want to taste the broadest possible range of wines.

Next week we will look at the mechanics of tasting and the organization of a wine tasting with friends. Please feel free to post any questions.  

Existing-home sales are on the rise, according to a recent report from the National Association of Realtors.  From October to November 2006 existing-home sales increased 0.6 percent, reflecting gains from single-family homes, town homes, condominiums, and co-ops. 

“As the housing market recovers from its correction, existing-home sales should be rising gradually during 2007,” said David Lereah, NAR’s chief economist.  “We’ve entered a more sustainable period of home sales now, and we expect greater support for prices over time as inventory levels are eventually drawn down.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.24 percent in November, down from 6.36 percent in October; the rate was 6.33 percent in November 2005.
 
NAR President Pat Vredevoogd Combs adds, “Mortgage interest rates are the lowest they’ve been since January, and it’s the first time since August of 2005 that interest rates are lower than a year earlier. This is increasing buying power at the same time that sellers are showing a willingness to negotiate price and terms. Combined with a plentiful supply of homes on the market, there’s a window for buyers now with conditions that we haven’t seen prior to the beginning of the housing boom in 2001.”

Three Tips For Home Sellers!

As economic forces stabilize real estate markets across the country, buyers and sellers are spending a little more time in the marketplace evaluating their options.  Smart sellers are realizing that a proactive selling strategy can go a long way in getting their home sold, even when inventories are high.  Here are three tips for today’s sellers:

1. Price your home right.  Markets change, so don’t be influenced by last year’s selling activity and home prices.  Buyers will evaluate your home based on what others are selling for today, so make sure you know the market and price your home accordingly.

2. Make your home shine. Buyers like to envision a home they can move right into.   Clean carpets, fresh paint, and a nicely landscaped yard can go a long way to make perspective buyers feel at home.

3. Anticipate the selling season.  Many sellers wait for the market to pick up before they place their home for sale, but smart sellers anticipate these seasonal adjustments and list their homes early in the sales cycle.  Give yourself the best opportunity by placing your home on the market before everyone else does!

Whether you’re looking to sell today or are thinking of selling tomorrow, please feel free to call The Jeanne & Dan Team and ask for a computer analysis of our recent market activity.  We would be more than happy answer any questions you might have.

Purchasing your first home is a big step, that comes with some very serious decisions. Many homebuyers are intimidated by the process, and continue renting much longer than they should, or need to. However, if you break the homebuying process down into these simple steps, and follow these important tips, you will find the process less intimidating, and much more manageable.

1) Before You Begin, Ask Yourself One Question

Will you live in your next home for at least 3 years? If the answer is “Yes,” you should probably purchase, rather than continue renting. With average appreciation, you’ll break even on your closing costs after 2 years, and start making money at year three. Every year after that will put more money in your pocket! The most expensive aspect of real estate is buying & selling, so the longer you can live in the home the better. However, purchasing makes sense if you can make as little as a 36 month commitment.

2) You Don’t Need a Down Payment!

It always surprises me how many people want to purchase a home, but don’t because they believe that a hefty down payment is required. Zero down programs are very common, and are quickly becoming the norm, rather than the exception to the rule. Because your new home is collateral for the loan, there are many banks that will jump at the chance to loan you 100% of its value. Perfect credit isn’t a requirement, either. Because real estate typically appreciates in value, it’s often easier to be approved for a 100% mortgage than it is to borrow 100% for a car!

3) Get Pre-Qualified

Pre-qualification is a very important step, and the step that first time home buyers dread the most. Qualifying to buy a home is pretty easy and requires relatively little work for you. Pre-qualification is what gives you buying power and allows you to make an offer on your dream home when you’ve found it. More importantly, pre-qualification will let you know how much your new home will REALLY cost - in monthly payments. A $150,000 or $300,000 home doesn’t mean a lot to most buyers - but $1200 per month and $2500 per month are tangibles that everyone can understand. After your lender pre-qualifies you, ask them for a “payment table” that shows you a rough estimate of TOTAL monthly payment based on purchase price. Pick your payment, and you know the price range to shop in.

4) Consult a Real Estate Professional ASAP

Many first time home buyers avoid contacting a Real Estate Agent because they dislike high pressure sales. However, Real Estate Agents have an advantage over traditional salespeople because they have access to the Multiple Listing Service, which is a database that lists roughly 99% of the homes for sale in a given market. This means that your Real Estate Agent doesn’t have to sell - he/she merely presents your options. The most important qualities to look for in your Real Estate Agent are his/her knowledge of your specific market and their willingness to help. Interview a few agents and choose one that will help guide you through the process. You’ll find the help & insight will be invaluable - and you’ll be glad you contacted your Real Estate Agent sooner, rather than later.

5) Make a List of “Must Haves” & “Wants”

Many new home buyers mistakenly think that they will “just know” when they “walk into the one.” While some buyers DO fall instantly in love with a home, this is not the norm. You’ll find your search is easier, and you will be more confident in your decision, if you take a systematic approach to your search. The best way to organize your search is to make two lists: Your “must haves” and your “wants.” Your “must haves” are the absolute necessities in your new home - in fact, you don’t even need to view a home if it doesn’t have every “must have.” Great examples of your “must haves” are price, school district, size, etc… Your “wants” are the qualities that you would like for your new home to have, but it’s not a necessity. Great examples of “wants” are color, flooring, kitchen appliances, surround sound, and type of exterior. By taking the time to articulate what you need and want in your new home, you will know exactly what to look for when viewing prospective homes.

6) Pick Your Favorite Neighborhoods

You can always make changes to your house, but you can never change its location. Most home buyers already have a good idea of where they would like to live because of school districts, work, or other factors. However, neighborhoods can be pretty different, even in the same area of the city. Ask your Real Estate Agent to email you a list of homes in the specific area of town you’re interested in. Take a drive through the different neighborhoods on the list your Real Estate Agent sends you, and choose your favorites. Pay attention to area amenities, how well the yards & common areas are kept, and if you see a lot of “for lease” signs - which can be an indication of a heavy rental area, and lacking in “pride of ownership.” After you have picked your favorite neighborhoods, and you know your “must haves” and “wants,” you can literally make a list of EVERY home available that meets your criteria, and view those homes.

7) Make Your Decision!!!

Homebuyers often hesitate after they’ve found the right home because they’re not confident about their decision, or their decision-making process. Your home is probably the largest investment of your life, and it’s normal to feel butterflies in your stomach before putting your first home under contract. However, if you do your due diligence - and you have if you followed the steps above - then you will have your bases covered. If you’ve found a home that meets all of your “must haves,” most of your “wants,” is in the right neighborhood, and in your budget - it’s the home for you! Don’t wait and let another buyer take YOUR home!

Buying your first home can seem very intimidating, but can be extremely exciting. If you think that buying a home is right for you, it probably is. Make sure and follow these important tips and you’ll know you made the right decision when you find your first home.

By Eric Bramlett

Eric Bramlett currently manages his Downtown Austin Real Estate Guide, his Tulsa Real Estate company’s website, his Austin Real Estate Guide & his Austin Condos Guide.

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