Historic River Mill in Wake Forest NC – Condo For Sale

River Mill is a wonderful historic mill in Wake Forest NC that has been renovated and turned into condos.  For a little history you can certainly check out River Mill Wake Forest NC – Live In History

Rarely do units become available for sale in this historic mill but one just came on the market today and I wanted to be sure and get the word out!  Some features to note:

  • circa 1854 (appx)
  • 950 sq ft
  • 2 bedroom / 2.5 bath
  • exposed granite and stone walls
  • enclosed patio
  • new carpet in areas
  • hardwood floors in others
  • List Price ONLY $189,950.00

Don’t miss this rare opportunity to live in River Mill which is listed on the National Register of Historic Places!  For more information and pictures please call me at 919.649.6128 or simply send me an email!

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Always Two Sides – John Baldwin vs Bath NC

Incredibly interesting article regarding a developer from the Raleigh NC area that has moved to a quaint, historic hamlet on the North Carolina coast. I am familiar with John Baldwin and his portfolio of estates in the Raleigh NC area – some of you are as well! Victoria Park in Rosemont in Wakefield Plantation? Surely that rings a bell for some of you….

While I am most definitely “for” economic stability in small towns and “keeping in local” I can’t condone changing the landscape of a location that has preserved a way of life and atmosphere for so many years. Businesses are vital for an area to retain the local workforce and keep money flowing into the local economy but at what cost?

Obviously, I have not attended any of these meetings and I am just on the outside looking in basing an initial opinion on an article. However, I do know some of the story from the Wakefield Plantation side of the equation…… just saying.

Please, take a moment and read the article – what are your thoughts? I know developers that specialize in preserving historic elements and I don’t think they would approve.

Bath fights developer for its soul – Local – The Sun News

Seven Sisters Inn Petition

Seven Sisters Inn

Seven Sisters Inn

I wanted to share a story that I just came across from Ocala.com

The Seven Sisters Inn is a historic home on the National Historic Register c. 1888.  It has been voted “Inn of the Month” by Country Inns Bed and Breakfast as well as the “Best Restoration Project”.

This Inn has been up for sale and faces foreclosure if not sold by April 7, 2009.  Ghost Hunters (T.A.P.S.) has featured the inn on it’s program for paranormal activity and it seems as though that appearance has garnered interest from other paranormal research groups around the country.  As a result, a petition has been created to help save the inn.  Please visit Save The Seven Sisters Inn to view the petition and see how you can help!

River Mill, Wake Forest NC – Live In History!

1959 River Mill at Neuse Bridge

1959 River Mill at Neuse Bridge

River Mill is one of the oldest manufacturing mills in North Carolina and has seen many transitions in it’s lifetime which has spanned the decades!  From the first recorded use in 1855 this mill has had many uses including granite mill, powder making factory during the Revolutionary War, paper mill, cotton mill and lastly an incredible restoration in the mid-80s turning the old mill into condos.

This 23 acre site bounded by the Neuse River and Falls Lake is rich in wildlife, tranquility, history and natural beauty.  The backdrop of the dam and falls provides natural beauty beyond compare.  There are three separate buildings that comprise River Mill; The Annex, The Mill and The Woods.  Opportunities are rare to own a condo within these historic buildings.  It would seem the time is here for a select few!

Two units currently available are:

1500 River Mill Drive – Unit 112 – 1020 sq ft / 2bd and 2.5bt.  – circa 1854 – Enclosed patio with koi pond, stone walls, circular staircase and original hardwood floors.  $194,900.00

1500 River Mill Drive – Unit 309 – 1190 sq ft / 3bd and 2bt – circa 1854 –  Granite walls, maple floors, stainless steel appliances, circular staircase and one of the largest units.  $194,900.00

River Mill is listed on the National Register of Historic Places.  Just a few of the amenities offered are shared flower and herb gardens, outdoor grills, gazebo, horseshoes, basketball goal, and plenty of parking!

For more information regarding these rare oppotunities within River Mill please feel free to call or email me – I would be delighted to help!

Is A Historic Home Right For You? Part III

Welcome to Part III in a series regarding Historic Homes!  In Is A Historic Home Right For You? Part I we defined what a historic home is and some of the resources available for finding a historic home.  With the basics out of the way we moved on to….

Is A Historic Home Right For You? Part II which highlighted some of the financial resources available as well as incentives for owning a historic home. 

In Part III we will look at the process entailed in having a property designated as a Historic Home.

It is important to note again that the information within these posts regarding Historic Homes are specific to North Carolina.  Please check with your local State Historic Preservation Office (SHPO) for information specific to your area.

There are several criteria for a property that should be considered before proceeding with the Study List Application and they are:

The quality of significance in American history, architecture, archaeology, and culture is present in districts, sites, buildings, structures, and objects that possess integrity of location, design, setting, materials, workmanship, feeling, and association, and:

  • that are associated with events that have made significant contribution to the broad patterns of our history; or
  • that are associated with the lives of persons significant in our past; or
  • that embody the distinctive characteristics of a type, period, or method of construction, or that represent the work of a master, or that possess high artistic values, or that represent a significant and distinguishable entity whose components may lack individual distinction; or
  • that have yielded, or may be likely to yield, information important in prehistory or history.

Moving beyond that there are exceptions to the criteria which are too numerous to list.  However, should your property fall within the general criteria mentioned above then I would highly suggest that you complete a Study List Application for your property.

A Study List Application is the formal process by which you can submit your property to your SHPO for them to evaluate your home for designation.  You must provide photos of your property as well as detailed information regarding your property on the Application.  Filling out the form DOES NOT constitute your property being designated.  Once your Study List Application is submitted it will be reviewed by the NRAC (National Register Advisory Committee) which is comprised of professional historians, archaeologists, architectural historians, and architects as well as other citizens having a demonstrated interest and expertise in historic preservation.  If it is of the opinion of the NRAC that your property could be potentially eligible for the National Register it will then be placed on a Study List.  Upon your property succesfully making it to the Study List phase the NRAC will authorize HPO staff to work with you to coordinate a formal nomination of the property to the National Register.

Once a property is adeqately reviewed and ready for National Nomination the services of a private consultant are most commonly employed to navigate the process.  Private owners MAY prepare the nomination themselves and are capable of doing so via a packet available to them with instructions, forms and sample nominations for guidelines.  Substandard nominations will NOT be submitted to Washington and the Historic Preservation Office will NOT make revisions to your application.

After a nomination is reviewed by the NRAC and recommends the property be submitted to the National Register it is signed off by the SHPO Officer and forwarded to the Keeper of the National Register where the nomination will be reviewed and a decision will be made to list or not to list the property.  A decision will be made no less than 15 days and no more than 45 days from the date of receipt.  Should your property be listed on the National Register the Historic Preservation Office will notify you and provide you with a certificate stating that the property has been listed in the National Register of Historic Places.

While this process may seem time-consuming it is well worth itDetails are key and cooperation with the local SHPO is a must. 

Join me for Part IV coming soon!  In Part IV we will explore “Restoration“.  Quite an interesting topic!

For more information regarding historic homes in My Back Yard…. please feel free to call or email anytime!

 

Is A Historic Home Right For you? Part II Tax Incentives and Financing

In Is A Historic Home Right For You? Part I we reviewed what the definition of a Historic Home is as well as some resources available in finding a historic home.  In Is A Historic Home Right For You?  Part II I thought it would be beneficial to understand the Financial Assistance that is available for purchasing a historic home in addition to exploring incentives that are available for restoring a historic home.

One huge incentive for purchasing a historic property comes in the form of a Tax Credit.  It is extremely important to note here that each state varies with their requirements for a tax credit in what it can be used for and also the amount!  For the purpose of this post I will be applying the requirements and nuances specific to North Carolina for residential properties.  There are additional guidlines for commercial buildings, income-producing properties and unique properties such as restoring mills and lighthouses.

Tax Credits:  North Carolina offers a 30% tax credit for qualifying rehabilitations for non-income producing properties that are to be utilized for personal residence.  Please note that a home must be listed on the National Register for it to receive the credit.  A homeowner may start work prior to the inclusion on the National Register but there must be evidence of intent to have the home listed on the National Register.  It is strongly advised that homeowners secure the listing on the National Register before claiming the credit.  There is no equivalent Federal Tax Credit for such rehabilitations, however there are Preservation Easements.

Preservation Easements:  While the exact definition of a Preservation Easement will be discussed in Part III it is relavent to mention here that there is a Federal Tax Credit available for Preservation Easements which are in addition to the State Tax Credits.   (Again, this is specific to North Carolina)

FHA Streamlined 203(k) Limited Repair Program:  Another disclaimer for you – I AM NOT A MORTGAGE PROFESSIONAL!  However, I can relay the information as I know it and for further details you should consult a mortgage professional.  The FHA Streamlined 203(k) Limited Repair Program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home prior to move-in.  In addition to the Streamlined 203(k) there is the FHA 203(k) which is much more detailed and has more nuances, twists and turns than this post will permit.  For more information I suggest that you visit U.S. Department of Housing and Urban Development AND consult a mortgage professional.

By no means does this post encompass all that is available to an individual that wishes to purchase and restore or maintain a historic property.  For more information I would suggest that you visit the following sites:

Thanks for following along and I hope that the information I have provided will assist you in your research.  If you are interested in purchasing a historic home in my area I would be delighted to help you navigate the path to finding the right home and exploring the options that are available to you! 

Is a Historic Home Right For You?  Part III will be coming soon and I will be detailing how to get your historic home certified as well as defining a Preservation Easement and what it means to you.

Historic opportunities are abundant in My Back Yard….

PS – The home picture used in this post is one of my favorites.  The owner has graciously allowed me to visit him this evening to interview him regarding the property’s history and take pictures.  It will be very exciting and I can’t wait to share it all with you!

 

Is A Historic Home Right For You? Part I

Historic Wake ForestPurchasing a historic home is an exciting opportunity to preserve history, restore charm and character to an older home, extend a legacy and experience history all in one. If you are anything like me you have a deep-rooted love for historic homes. I am in awe of the artchitecture and the craftsmanship of these romantic, antiquated homes and the vibes that run through the veins of the homes when I place my hand on a railing or bannister are overwhelming. For me, it is an experience that I seek out as often as possible.

While the dreamy visions of restoring an old treasure may intrigue you – you must first evaluate the consequences (and the benefits) of underatking such a, at times, Herculean effort.

First and foremost we must define what a historic home is. A historic property by North Carolina definition is:

The quality of significance in American history, architecture, archaeology, and culture is present in districts, sites, buildings, structures, and objects that possess integrity of location, design, setting, materials, workmanship, feeling, and association, and:

A. that are associated with events that have made significant contribution to the broad patterns of our history; or

B. that are associated with the lives of persons significant in our past; or

C. that embody the distinctive characteristics of a type, period, or method of construction, or that represent the work of a master, or that possess high artistic values, or that represent a significant and distinguishable entity whose components may lack individual distinction; or

D. that have yielded, or may be likely to yield, information important in prehistory or history.

** It is important to note that there are federal, state and local agencies that all have subtle differences. It is important to check in your local area for specifics.

 

Now that we know how a home qualifies – where are they?

There are many places to search for historic homes. I would be remiss at this point if I did not mention the best way to seek out these homes are to enlist the help of a Realtor® that is well-versed iHistoric Wake Forestf the niche of historic properties. An educated Realtor® will be able to assist you in your search, your homework and the paperwork involved. A few places that you can surf on your own while contemplating the big leap are:

While each of the sites mentioned have a broad variety of historic homes for sale they do not represent a complete list of what is possibly available in your area.

Once you have found your potential gem in the rough it is very important to sit down prior to a signed contract and assess your financials. You must take into account all of the work (and money) that will be required to bring the home “up to code”. It is highly advisable to have a home inspection done PRIOR to making an offer so that you will have clear vision of the work that lay ahead.

There are many financial assistant programs available to individuals involved in restoration projects……

I do hope that you join me for Part II in a few day – I will highlight some of the grant programs available to the purchaser of a historic home.

I hope you stay with me to explore the historic home opportunities and allow be to help you Establish Your Circa in My Back Yard….