The Greek Festival in Winston-Salem has been voted the number one festival in the Triad several years in a row.  The Greek Orthodox Church uses their festival for multiple purposes; one being a portion of their profits are presented to Brenner Children’s Hospital each year.  The festival also is a time of celebration for the Greek Church and its members where the Greek community can share its history.

The history of the celebrations and festivals in ancient Greece were a major part of everyday life. During each celebration the people participated in many different events and activities and a large number of these were held in honor of a certain god or goddess. Music and dance played a big part of these festivals, providing entertainment for everyone to enjoy.  The Greek people would anticipate these festivals the same way we anticipate our holidays today.  Over 50 different celebrations are known, and many of them are still celebrated in Greece. .

During normal festivals there might be dancing, singing, athletic competitions or plays. Some celebrations were primarily for entertainment allowing everyone to participate. As processions marched from place to place, participants would sing honorary songs in order to please the gods.  There were also religious dances that would honor specific deities.

Men dominated the Greater Dionysia Festival, an ancient dramatic festival in which tragedy and comedy originated. This festival was held in honor of Dionysus, the God of Wine. The first Greek plays were put on by men and for an all male audience.  Eventually the Greeks started using plays as a means for entertainment, rather than just for religious celebration. Athletic competitions were not held during every celebration, but at certain festivals they were very important.  The Olympic Games originated from the Ancient Olympic Games and are a primary example of a festival based on athletic competitions.

While we do not have Olympic Games at the  Winston-Salem festival, we certainly do have a 5k walk/run, music, tours, exhibits, dancing and of course plenty of food.  For those that work at the festival, the hours are long, the days often times hot or even wet, but it is always a time of enjoyment.

The Greek festival in Winston-Salem will be held May 18-20. If you have never been to a Greek Festival, this is your perfect opportunity.  I will be working at the festival look forward to seeing you there.

What are some of your favorite things to do at the Greek Festival?

By Angela Kalamaras (Branch Leader, Winston-Salem Office) – Guest Blogger

Bet you didn’t expect me to say that, did you?  Yes, we need your home to sell. In April alone, we listed over 1,200 homes in the Carolinas but placed close to 1,600 under contract.  Our Sales Units Year-To-Date are up 37 percent from last year.  Our closed units are up 31 percent and our Listing Units are up 2.2 percent.

The numbers speak volumes to what is going on.  If there ever was a time to make the next move, today it all adds up:

What you want next year will cost more and Interest rates will be higher. You can sell low and buy low and make money in the swing and reside where you want to reside.

Opportunity knocks. Take advantage of these special times and let us go to work for you!

By Pat Riley (President and Chief Operating Officer)

Mother’s Day is this Sunday, May 13, 2012. Traditionally, this day is set aside to honor and celebrate our mothers.

Mother’s Day is celebrated all over the world on various days of the year, most commonly in March, April, or May. In the United States, Mother’s Day became an official national holiday in 1914, when President Woodrow Wilson signed it into law. Mother’s Day remains one of the biggest days for sales of flowers, greeting cards, and gifts. It is also the single busiest day for phone calls!

I’m one of those sons who were fortunate to work with my mother as I entered my career. My parents owned a residential construction and real estate sales company, so I grew up in the business. When I received my North Carolina real estate license in 1985, my mother became my first Broker-in-Charge. As I moved into my full-time real estate career in 1990, my mother taught me many lessons about running a real estate office and leading sales professionals.  Mother was very good at the interior design of homes, attending to the financial details of the business, and the home sale transaction itself. But Mother’s most valuable gift was her ability to make everyone feel special, and I watched her lead people with warmth and positive energy.  She has such a great sense of humor and was always laughing and smiling. In fact, I still have people who ask me about her after all these years.

As I think about the advice and guidance my mother gave me, I decided to look up the “official” definition of mother – courtesy of Webster’s online dictionary:

a)      A female parent

b)      Has produced or nurtured anything; source of birth or origin – or to adopt

c)      The female superior or head of a religious house – a woman in authority

d)      Maternal tenderness or affection

e)      Something that is extreme or ultimate example of its kind specifically in terms of scale

f)        Hysterical passion; hysteria

My mother truly nurtured me – first teaching me life lessons, then teaching me business lessons. She has been the female superior in my life, and she provided me so much maternal tenderness and affection over the years.  I guess my hysterical passion for the real estate industry, the agents, and our clients originate from watching my beloved mother.

Many people have a positive impact on our lives, but we only have one mother. I hope each of us can celebrate and honor our mother this year by simply telling her how much we love her, and how thankful we are of the impact she has made in our life.

I know I’m looking forward to that phone call.

By Tony Jarrett (Regional Vice President, Triad)

It’s mid-May, which means Triangle-area Colleges and Universities are deep into their Spring Commencement ceremonies. Graduating seniors are eagerly awaiting words of encouragement and wisdom from a fascinating variety of commencement speakers.

Case in point, former NC State Wolfpack quarterback Phillip Rivers, now the starting quarterback for the NFL’s San Diego Chargers, will deliver the commencement speech to NC State grads at the PNC Arena on May 12^th. (Quarterback Michael Vick of the Philadelphia Eagles delivered a commencement speech last year…perhaps the inspiration for this choice.)

Mother’s Day is May 13^th, and thousands of proud Moms and Dads will be attending ceremonies at the University of North Carolina at Chapel Hill. New York City Mayor Michael Bloomberg will speak to the UNC graduates at Kenan Stadium. Also that morning, Duke grads will hear CNN anchor and Washington Post columnist Fareed Zakaria at Wallace Wade Stadium.

Pecking out this blog post on my new iPad, I recalled that Apple CEO Tim Cook is a Duke grad, receiving his M.B.A. as a Fuqua Scholar in 1988. That in turn brought to mind the incredible commencement speech made by his predecessor at Apple, Steve Jobs. Speaking to graduates at Stanford University in 2005, a year after he was first diagnosed with cancer, Jobs implored the graduates to pursue their dreams and to live fully before they die. I had the full text of his speech taped to my office door for a couple of years…taking inspiration from it every day. From that speech:

“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” –Steve Jobs

So, in this season of tassel-turning, I offer you this link to one of the most compelling commencement speeches ever delivered. It’s well worth your next 15 minutes.

By Tom Gongaware (General Sales Manager, Triangle Region)

The title of oldest public university in the country is actually claimed by three different universities – the University of North Carolina at Chapel Hill, the University of Georgia, and The College of William and Mary .

The claims of each:

• The University of Georgia is in Athens, Georgia, and was chartered in 1785, making it the first state-chartered public university in the United States. The University began admitting students in 1801.
• The College of William & Mary is in Williamsburg, Virginia, and was founded by royal charter in 1693, making it one of the oldest colleges, public or private, in the United States. The college severed ties with Great Britain after the Revolutionary War, but remained private until it closed after the Civil War due to financial troubles.  It re-opened in 1888 and accepted funding from the state of Virginia to become public in 1906.
• The University of North Carolina at Chapel Hill was charted on December 11, 1789 and was the first public university in the country to admit students in 1795. The first class graduated in 1798, making it the first public university to graduate students in the 18^th century.  The school was also part of the state’s 1776 Constitution outlining its creation.

The University of North Carolina at Chapel Hill claims the title of oldest public university due to the state’s constitution of 1776 and the first class to graduate in the country from a public university. From that first graduating class in 1798, the University enrolled 4,026 first-year students from a record 23,753 applications – for those applying, that’s a 17% chance to get accepted!

Here are some impressive stats about the last graduating class:

• 80% graduated in the top 10 percent of their high school class
• Average 1,300 on the SAT test
• 18% were first-generation college students
• 12% were eligible for the Carolina Covenant, which assists low-income students
• 18,579 undergraduates enrolled
• Total enrollment is 29,137
• 52 high schools seniors were selected as Morehead Scholars – the Senior Vice-President, of the Allen Tate Company, Phyllis Brookshire, is a Morehead Scholar!

The University of North Carolina at Chapel Hill is a state treasure.  Several national publications regularly publish rankings that list UNC-Chapel Hill prominently in categories ranging from academic quality to affordability. The latest is Kiplinger’s Personal Finance Magazine’s February 2012 edition that ranks UNC first among the 100 best US public colleges and universities that offer students high-quality academics at an affordable price.  This is the eleventh time UNC has placed #1 on Kiplinger’s list.

So, we wish the 2012 UNC and all graduating classes this spring the very best of success!

By Tony Jarrett (Regional Vice President, Triad)

The trend continues.  We are well into the Spring buying season and a stable pattern of growth is developing. It is very hard to believe, but inventory levels are so low that there just aren’t enough homes for sale to satisfy the buyer demands.

Speculative new home building has been left to a very few national builders and many sellers who are upside down have made the decision that they can’t win in today’s housing environment.  This has triggered very low listing inventories. Nationally, they are down about 22 percent.  Why?  Shrinking foreclosure rates, as well as some sellers holding out to maximize appreciation, or they are upside down or they think they can out wait the cycle.

Total distressed property numbers are on the decline and the concept of selling low and buying low is resonating with the greater public.

Here’s a real life example: You purchased a beautiful home 8 years ago off water at one of Carolina’s beautiful lake communities.  At the time, you did not purchase on the water because it was price prohibitive.  Today, you can take a hit on your existing home and move up to the front row and make money on the swing.  The money you save affords you that boat in the slip, and the current low interest rates assure a predictable future cash flow wise.

The road signs are very clear.  The real estate market is no longer the culprit for our economic ailments. One by one, without tax credits and incentives, America is proving once and for all that homeownership is still a deep-seated priority.

By Pat Riley (President and Chief Operating Officer)

As you may have heard, the federal government has implemented a new tax on real estate transactions that will become effective January 1, 2013. There are many misconceptions about properties and taxpayers that will be subject to this new tax – read on for some good news if you are concerned!

The tax is NOT on the sale or purchase price of the property.  The tax relates to the capital gain (profit) realized between the original purchase price and the final sale price the seller received. It is NOT a tax to the buyer.

The seller will only pay (all or part) of the tax in very unique situations:

• The seller must have a minimum Adjusted Gross Income (AGI) of $200,000 as an individual or $250,000 for joint filers
• Anyone with income less than $200,000 AGI ($250,000 joint filers) will NOT be subject to the tax
• There must be a gain (profit) between the original purchase price and the final sale price which exceeds $250,000 as an individual ($500,000 joint filers)
• Any transaction with a gain (profit) of less than $250,000 ($500,000 joint filers) will NOT be subject to the tax

Qualifying Criteria:  If the seller makes more than $200,000 ($250,000 joint filers) AND if the capital gain on the sale of the property exceeds $250,000 ($500,000 for joint filers), the tax needs to be calculated.

• The tax is NOT 3.8% of the sale price
• The tax is NOT 3.8% of the entire gain (in most cases)

Here is a real world example of how the tax is calculated IF the two qualifying criteria are met:

John and Mary Smith are a married couple filing jointly.

The tax is calculated on the LESSER of (a) the amount of the gain or (b) the excess AGI over the $200,000 ($250,000 joint filers) amount. Since the $25,000 is less than the $100,000 excess ($350,000 income less $250,000 joint threshold); the tax is calculated on the $25,000 gain.

$25,000 X 3.8% = $950 tax due on a gain (profit) of $525,000.

So, you see that this tax will have zero impact on most residential real estate transactions in our market.

Remember the take-aways:

• Your AGI must exceed $200,000 ($250,000 for joint filers)
• You must have a capital gain on the sale of your property which exceeds $250,000 ($500,000 joint filers)
• The tax is calculated on the GAIN (profit), not on the sale price
• The tax is calculated on the lesser amount of the gain or the excess of AGI over the $200,000 ($250,000 for joint filers) threshold
• The buyer never pays any portion of the tax
• Most sellers will not be subject to the tax – only those meeting the qualifying criteria in the first 2 points

If you need further explanation, please consult with your tax accountant or tax attorney.

By Phyllis Brookshire (Senior Vice President)

…unless you have ever taken the time to appreciate it!  North Carolina is home to 5 of the top 100 Best Golf Courses in America, as ranked in an article by Golf Digest for 2011-12.

And this year, from April 30-May 6, Quail Hollow Club in Charlotte, NC celebrates their 10th year hosting a fantastic golf tournament with one of the largest purses…and we’re not talking hand bags!

The Wells Fargo Championship is an event you at LEAST need to try once…much like attending a NASCAR race.  Wednesday features a Pro-Am and watching the “celebrities” interact with the spectators is one of the highlights of the week. It is a day the whole family can enjoy!  Committed pros like Tiger Woods, Rory McIlroy and Phil Mickelson promise to put on a show throughout their rounds as well!

And a few tips from a yearly spectator: On hole #5, sit at the slight dog leg…in the shade…near the concession stand…and you will see every drive and approach shot of the par 5.  For a little more action, nestle yourself between holes 10-13…You can bounce back and forth between the 10^th and 12^th greens and 11^th and 13^th tee boxes with ease and will catch a LOT of great shots!

Whether it is to enjoy being outside, seeing the amazing houses that line the golf course, visiting with friends, or marveling at the game of golf, DO IT. You won’t be disappointed.  Besides…you will want to scope out your spot for when we hold a major! Hope to see you there!

By Katrina Richards (Broker-in-Charge, Ballantyne) – Guest Blogger

Legend has it that on May Day (May 1^st), small baskets (called May Baskets) are filled will treats or flowers and left by a suitor on a paramour’s doorstep. Upon ringing the doorbell, the giver of the basket flees. If caught by the intended recipient of the gift, a kiss is in order. (This traditional May Day activity has faded from popularity since the advent of Internet dating.)

May is loaded with other romantic activities, however, beginning with the 3^rd Annual Chainsaw Sculpting Invitational in Thomasville May 3-5. Nothing says “I love you” better than a sculpture of your beloved made out of a 6-foot pine log. Let the sawdust fly!

May 10-13 takes us to one of my favorite towns out west, Black Mountain, for the 34^th Annual Lake Eden Arts Festival…or LEAF. Folk art, a poetry slam, gourmet festival food, and lots of great music. This year you can check out Taj Mahal, Seun Anikulapo and the Egypt 80, and the New Orleans institution Preservation Hall Jazz Band…among many other performers.

Mother’s Day weekend kicks off with National Train Day on May 12. The North Carolina Transportation Museum in Spencer has special events that day…as does the Halifax County town of Enfield, which is hosting an art and photography exhibit celebrating the train’s impact on that historic town…now best known for its peanut industry. (On Mother’s Day itself, May 13, every North Carolinian should do whatever Mom wants to do.)

The Got To Be NC Festival returns to the NC State Fairgrounds in Raleigh May 18-20. This three-day celebration features a Food and Wine Expo, Fiber Fair, carnival, antique tractors, draft horses, music and more. Gate admission and parking are free. Good (affordable) family fun!

More fun, particularly for those 21 and older, will be found at the 11^th Annual Yadkin Valley Wine Festival on May 19 in Elkin. Here’s an event where you can sample wine from all the great vineyards of the Yadkin Valley without having to drive all over the place. Designated drivers are encouraged! There will be a “grape stomp,” unfortunately just for the kids.

The month ends with the big Memorial Day weekend…the unofficial start of Summer. Time to load up on the sunscreen and charcoal.

What May activities are you looking forward to?

By Tom Gongaware (General Sales Manager, Triangle Region)

Need a little adventure in your life? Look no further than the U.S. National Whitewater Center in Charlotte. It is the premier outdoor adventure center, and for me, a great place to spend a warm spring day. The USNWC is located on approximately 400 acres of woodlands and offers everything from rock climbing, mountain biking, rafting and kayaking, to a mega zip-line and aerial Adventure Course.

A few years ago, a group of us tackled the Adventure Course. It was a great experience and team building exercise. Walking across the high ropes course 30 feet in the air, with a partner, quickly forces you to put your trust in someone else. The rafting was also a thrill. You can experience up to class IV rapids on the largest man-made re-circulating river in the world. Luckily, I didn’t have to do any swimming that day!

One of the things I look forward to trying this year is the rodeo rafting. It is perfect for someone like me who loves to raft but wants the experience of kayaking (but doesn’t know how). The raft is smaller and lighter than a typical whitewater raft so you can experience the drops and turns like a kayak. Be prepared to get wet!

The newest way to experience the USNWC is through a Canopy Tour. Through seven zip-lines, sky bridges, cargo net climbs, rappelling and hiking, you will get to experience the natural landscape up close. You will also take in some great views along the banks of the Catawba River. This may just have to go on my list as well.

After your day of fun, or if you prefer to just be an observer, the Whitewater River Jam began in April and will go through September. From the patio of the River’s Edge Bar & Grill, you will hear some great music; enjoy good food and drinks – all while watching the sun set over the Catawba River. You may even hear the enthusiastic screams from a few zip-liners and rafters!

What are some of your favorite things to do at the Whitewater Center?

By Regina Walter (Director of Client Relations)