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Gorgeous Home Walking Distance to ECU Sports Complex

by The Pistol Tingen Team

Enterprising $54 Million ECU Campus-Edge Student Housing Project Launched

Two local Greenville developers, Taft Development Group and Ward Holdings, announced the initiation of the prodigious student housing project that will be located near downtown Greenville and the main campus of East Carolina University. The five-story mixed-use facility will feature 275 student apartments containing a total of 675 bedrooms.

Plans project that the complex will open in August 2017—just in time to welcome arriving ECU students for the Fall Semester. Students will have the choice of 16 floorplans with studios, 1 bedroom, 2 bedroom, 3 bedroom and 4 bedroom units. Each floor plan will be fully furnished, include private bathrooms and contain upgrades such as granite countertops and plank floors. The housing project will provide a high-tech state-of-the-art security system with cameras, electronic access control and high speed wireless internet.

In addition to the student housing, the tower complex will contain 20,000 square feet of retail space, a 700-car parking deck, courtyards, resort-style pool, outdoor amenity center, state-of-the-art fitness center and a roof-top sky-view terrace. The complex will be located across the street from the recently announced $122 Million ECU Student Union that is scheduled to commence construction Summer 2015. Students also will enjoy the convenience of a short 3 minute walk to the 150,000 square foot Student Recreation Center, Joyner library and the new world-class Student Union.

Enterprising $54 Million ECU Campus-Edge Student Housing Project Launched

Two local Greenville developers, Taft Development Group and Ward Holdings, announced the initiation of the prodigious student housing project that will be located near downtown Greenville and the main campus of East Carolina University. The five-story mixed-use facility will feature 275 student apartments containing a total of 675 bedrooms.

Plans project that the complex will open in August 2017—just in time to welcome arriving ECU students for the Fall Semester. Students will have the choice of 16 floorplans with studios, 1 bedroom, 2 bedroom, 3 bedroom and 4 bedroom units. Each floor plan will be fully furnished, include private bathrooms and contain upgrades such as granite countertops and plank floors. The housing project will provide a high-tech state-of-the-art security system with cameras, electronic access control and high speed wireless internet.

In addition to the student housing, the tower complex will contain 20,000 square feet of retail space, a 700-car parking deck, courtyards, resort-style pool, outdoor amenity center, state-of-the-art fitness center and a roof-top sky-view terrace. The complex will be located across the street from the recently announced $122 Million ECU Student Union that is scheduled to commence construction Summer 2015. Students also will enjoy the convenience of a short 3 minute walk to the 150,000 square foot Student Recreation Center, Joyner library and the new world-class Student Union.

Exciting new listing located at 2700 Royal Drive

by The Pistol Tingen Team

ECU/PCC Establish an East Coast Pharmaceutical Force

by Madeleine Tingen

According to the Pitt County Development Commission, East Carolina University (ECU) and Pitt Community College (PCC) will partner to establish the Biopharmaceutical Work Force Development and Manufacturing Center of Excellence. With funds provided by the Golden LEAF Foundation, this effort will create the East Coast’s finest training center for biomanufacturing and pharmaceuticals.  Additional support from the North Carolina Community College System’s NCWorks Customized Training and BioNetwork will enhance the planned facilities and programs.

Unanimously voting to provide the largest such grant this year, the Golden LEAF Board of Directors will provide $1,750,000—to ECU ($1,100,000) and PCC ($650,000).  The creation of the Biopharmaceutical Work Force Development and Manufacturing Center of Excellence is a model for economic and work force development collaboration.  PCC, ECU, the NC Community College BioNetwork, and Pitt County are partnering to develop an educational and training infrastructure for a 21st century pharmaceutical services workforce to meet the labor and expertise needs of such companies as Patheon, a leading provider of drug substance and drug product services for the global biopharmaceutical industry.

The Golden LEAF Board of Directors had earlier reserved funding for this purpose as part of North Carolina’s efforts to recruit Patheon to expand in Greenville, NC. Governor Pat McCrory announced this expansion of an estimated 488 jobs in October of 2014. Golden LEAF recognizes the economic and workforce development opportunity at hand and shares the vision of a bright pharmaceutical services future for the region, where over 8,000 people are already directly employed in pharmaceutical manufacturing.  Companies such as RTI, the manufacturer of a sterile biomedical device, are also growing in Pitt County.

Small but mighty, Greenville, NC has ranked in the top 10 on the fDI Magazine’s list of “American Micro Cities of the Future 2015-16.” Ranking in the top ten overall, Greenville also made the top 3 list in two other categories and has been highly ranked on the magazine’s list since its inception in 2011.

Greenville continues to capture the attention of the fDI Magazine produced by The Financial Times Ltd., one of the world’s leading business news organizations, and is recognized internationally for its authority, integrity and accuracy. Providing extensive news, comment and analysis, FT.com is the definitive home for business intelligence on the web, serving as an essential resource for the global business community.

fDI focuses these rankings on a mixture of data and expert opinion to name cities that have the best prospects for inward investment, economic development and business expansion. Greenville falls into the Micro Cities category, which includes cities with populations under 100,000. There are also categories for Major Cities with populations up to 750,000, Large Cities with populations between 250,000 and 750,000 and Small Cities with populations between 100,000 and 250,000.

Ranking highest in the Human Capital and Lifestyle category, Greenville, NC made #2 for Micro Cities. Various factors contribute to this category which is based on such things as number of students, labor force as a percentage of the population, literacy rate, secondary and tertiary enrollment rates, the number of physicians as percentage of population, and gross domestic product.

Greenville, NC continues to grow in popularity with businesses and organizations as an attractive choice and a viable relocation target in which to thrive.

Pitt County Early College School Calendar

by The Pistol Tingen Team
Pitt County Schools Early College High School
 
 
Click the link above to view the academic calendar for the Pitt County Schools Early College High School.

2015 Pitt County High School Graduation Schedule

by The Pistol Tingen Team

The 2015 Pitt County High School Graduation Schedule has been released and shown below.

To download a PDF copy of the shedule, please click here.

 
Wednesday, June 10, 2015

Ayden Grifton 4:00 PM

J.H. Rose 7:30 PM

 

Thursday, June 11, 2015

North Pitt 4:00 PM

D.H. Conley 7:30 PM

 

Friday, June 12, 2015

Farmville Central 4:00 PM

South Central 7:30 PM

Should You Pay Off Your Mortgage Early?

by The Pistol Tingen Team

Should You Pay Off Your Mortgage Early?

holding a house in hands

If you have a mortgage on your home, you’ve probably wondered at least once whether it would be worthwhile to pay it down ahead of schedule. And if so, you’re not alone. The debate over whether to prepay your mortgage has persisted in the personal finance world for some time now, and it’s not going away any time soon.

Pay Off Your Mortgage or Invest? The Math Says…

On one side of the equation, you’ve got experts who say you should not prepay your mortgage if you are locked in at a low interest rate. Their reasoning: You would be better off investing your money in the stock market where a reasonably diversified stock portfolio can expect to earn at least 7% on average over the course of a decade or more.

Add in the home mortgage interest deduction you can take on your federal taxes and, they say, you would be silly to prepay your mortgage and miss out on those perks.

To this group, the question is just about math. After all, why would you prepay a loan at 3% or 4% and lose out on part of a valuable tax deduction when you could invest that money instead and earn considerably more?

But There’s an Emotional Side to Prepaying Your Mortgage, Too

Still, there are plenty of people who ignore the math and forge ahead with their mortgage prepayment plans. My parents fell squarely in that category. Instead of taking the standard 30 years to pay off their mortgage, they paid it off in less than 20 years.

Ask them if they care about the tax deduction they missed out on, and they’ll probably look at you like a crazy person. Why? Because the decision to prepay was never about the math to them; it was about their financial freedom. And math aside, they have never regretted their decision to pay off their home and become entirely debt-free.

And a lot of people agree with that sentiment. For some people, like my parents, it all boils down to the fact that they just don’t like debt. It’s as simple as that.

But others prefer a deeper analysis.

Analyzing the Pros and Cons

For starters, let’s take a look at what the home mortgage interest deduction really means.

The easiest way to figure out your home mortgage interest deduction is to look at your effective tax rate. Say your overall tax rate is 22%, for example. On average, the home mortgage interest deduction reduces your taxes by $22 for every $100 you pay in mortgage interest.

That’s a pretty nice perk, but there’s a caveat. Your home mortgage interest deduction is only valid for the amount you deduct over and above the standard deduction, which is available to taxpayers who don’t itemize their returns. The standard deduction for married spouses filing jointly was $12,400 in 2014.

So what does that mean? Simply put, if you don’t itemize your taxes, your home mortgage interest deduction is worth nothing. And even if you do, it’s only worth what it helps you save over the standard deduction that anyone can take. In many cases, this drastically reduces the value of the home mortgage interest deduction to the point where it’s barely worth considering.

But what about those lost investing returns? When you ask people whether or not they prepay their mortgage and why, you’ll find plenty of skeptics who balk at the idea of carrying long-term debt in favor of investing their extra dollars in the stock market. And when it comes to who is “wrong” or “right,” there are several ways to look at it.

Since the stock market has performed well historically, the math favors those who choose to hold onto low-interest mortgages and invest their extra dollars instead.

However, unlike the stock market, which is not guaranteed, the interest you save by prepaying your mortgage is a “sure thing.” Many people are happy prepaying and banking the extra money they save on interest, even if it’s less than they may have earned by investing their extra dollars instead.

A Balanced Approach

As someone who loves math but despises debt, I see both sides of the issue. And that’s why my family takes a balanced approach. Our only debt is a small 15-year mortgage at 3.75%, and we choose to prepay it somewhat, but not as heavily as we could. My strategy involves maxing out our retirement accounts first and foremost and then throwing a few extra hundred dollars at the mortgage every month. I just don’t see the reason to choose between investing extra money or prepaying my mortgage, so I choose to do a little of both.

That seems like a good compromise to me. Still, there is nothing wrong with taking sides on this issue.

When you hate debt, you want to put it behind you once and for all, and that’s understandable. But it’s also understandable for someone to make their decision based solely on the numbers. After all, it’s hard to argue with math. At the end of the day, we all have to do what is best for our families – and what helps us sleep best at night.

So, should you prepay your mortgage? It is, and always has been, up to you. Just make sure any decision you make is an informed one.

As evidenced by the charts below, the Greenville, North Carolina and Pitt County area single family real estate market is getting better. When comparing single family home sales year to date with last year to date, significant improvement is apparent. The number of closed sales are up 40% and sales volume is up a whopping 49% compared to this time last year. The prices of single family homes showed improvement as well, increasing by 7%.  For townhomes and condominiums the news is not as rosy. There were no major changes and that market remains somewhat flat. 

For home sellers, the signs shown by the numbers are encouraging. More homes are selling, quite often quicker and for more money.  For home buyers, prices are still a bargain and mortgage interest rates remain at historically low levels. The dream of home ownership can be a reality while being as affordable as ever. 

Please give us a call us if we can be of further assistance.

 


Displaying blog entries 1-10 of 10

BERKSHIRE HATHAWAY HomeServices Prime Properties,   Greenville, NC, 2625 Charles Blvd.

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