Tuesday, August 23, 2011

Winston-Salem, NC!

Great post today on Allen Tate's blog, At Home in the Carolinas, about Winston-Salem and all she has to offer. As a native of the area, I take some of these things for granted! Click here for the article.

Friday, August 19, 2011

And we're off!!

Lot 16 just reserved for custom construction at Warren's Gate!
Visit www.ComeHomeToClemmons.com for more info about Clemmons' finest maintenance free community for active adults!

So What Does That Unfair and Exorbitant Fee Get You?

I have had several inquiries lately regarding me cutting my commission -- first, let me state that I DO NOT do that. Second, even if I wanted to, my company wouldn't let me, so... this is sort of moot, but here's why:

We are a full service brokerage. Another company or agent may list your home for a percent less, but put the exposure you get with them next to the exposure you get with us, and ours is 2, 3, even 4 or 5 times more extensive. So, that "extra" percent you are paying us is getting you much more than 1 percent more exposure. In a market like we have now, everyone needs and wants to cut expenses; but with the overabundance of unsold inventory we have, the LAST thing you need to do is go with someone who isn't giving you maximum exposure!

I am a full service, full time Realtor. Between Lisa and I, we truly strive to be available for you anytime. Of course there will be exceptions to this, but we don't work a 9-5 M-F day like a lot of other professions. Additionally, we have personally undertaken a very aggressive marketing plan, so even within our own company, we can state without a doubt that we offer more services than most other agents. I tell people that the second the sign goes in the yard, I start spending money, and I mean it. Often in marketing a home I actually go in the hole, but if I think on that long enough, I'll get depressed, so let's move on...

You are paying not just for our marketing capabilities but also for our experience and professional insurance. A woman I know (and who is one of my really good friends who gave me permission to use her story!) bought a home on her own. There were some undisclosed issues that ended up really affecting her property value. When she went after the seller, his pockets were empty. Had she had an agent and the issues been undisclosed, she could have sought recourse from the agent's company. Of course, with an experienced agent who knew the red flags, she probably would have avoided the pitfall all together! Then, not learning from experience, she later attempted selling a home on her own. She had complete strangers knock on her door at 10pm asking to see her home. Not only did she run security risks like that, but NAR statistics show that selling your home with a Realtor brings you more than selling it on your own. What most folks don't realize is that when folks look at a FSBO, they are expecting to pay less... so you are not only getting less money, but getting less experience! I often give my tax preparer example. When I was teaching school, my husband and I were audited. (Don't ask why a 2 teacher household was audited, but I digress. Surely there are bigger fish to go after??). Anyway, I had paid a professional to prepare our taxes. Could I have done it myself? Probably... but then I couldn't have gone back to them for help or recourse when I was audited. The fee I paid was well worth the peace of mind.

Finally, I'll let you in on a little secret... we really don't put as much in our pockets as you think! Let's do a hypothetical example to demonstrate this:
123 Main St sells for $200,000. Commission is 6%, so $12,000 total. A Tate agent (moi) is representing the seller, and an agent with XYZ Realty is representing the buyer. So, that $12,000 immediately becomes $6,000 to Tate and $6,000 to XYZ. Of the $6,000 to Tate, let's say my split is 50% (again, hypothetical)... so my part is down to $3,000. But wait, I have to pay taxes on that, so I set aside $900, or 30%, to be safe. So now I'm down to $2,100. But wait again! I spent $700 marketing it in various print and online media (never mind the hours spent actually doing the work), so I am now down to $1,400. And, unfortunately, it took 4 months to sell, so I am down to $350 a month. And, oh yeah, the seller wouldn't agree to sell at the negotiated price, so I finally agreed to pay the home warranty out of my pocket just to get us to closing. Welp, there goes one month's check. So, I end up with $1,050 for 4 month's work. Oh... but wait! I had to drive out to the house often to fill brochure boxes and flier trays, make sure my sign was still up, sweep off the front stoop, and clean the toilets for showings, so I spent some of that on gas, cleaning supplies, and new pants (because I splashed my good ones with bleach...), etc. Do you get my drift???

Don't get me wrong -- I LOVE MY JOB! I thank God every day for putting me in a career that I enjoy so much and in which I get to interact with so many different and wonderful people. But, I have to be honest, the perception that I am the greedy one because I won't cut my commission is reeeeeeeeeeeally getting to me.

Oh, did I mention I left home this morning at 7:30am, I'll zoom home at 6 to see my children before they go to bed, I'll leave again to go out to show one more home to folks who don't get off work til 6, and then I'll return home to relax complete paperwork and plan ads til I doze off? Yeah, we are definitely overpaid...

Thursday, August 18, 2011

New Prices!

Existing homes drastically reduced to make room for new plans at Warren's Gate in Clemmons, NC!

Monday, August 15, 2011

A Boonville Beauty -- and 100% Financing!

A lot of people think 100% financing doesn't exist anymore, but it is still alive and kicking in Yadkin County! The whole county is USDA loan eligible. There are certain income requirements, and homes have to be up to a certain standard, but it is still possible to buy a home with ZERO money down.

One of my Yadkin homes, 141 Marview in Boonville, has just been reduced to $104900. It is quite a prize... take a tour here! With rates as low as they are AND the chance for 100% financing, it's a great time to be a buyer in Yadkin County!

Thursday, August 11, 2011


4.25% with half-point origination on conventional 30 year fixed!!

FHA/VA/USDA – 4% NO origination, 30 year fixed!

15 year fixed, 3.5% with a half point origination!!

5/1 ARM: 2.875% with 1% origination.


Tuesday, August 9, 2011

Say it Ain't So, FSBO...

I returned from vacation last week and then lost my grandfather a few days later, so it has been a while since I have been on here! One of my goals as I returned to the office today was to update my blog, and I had an excellent article just fall into my lap concerning the founder of forsalebyowner.com. Click here to read the blog post on Steve Harney's website. Very interesting perspective if you are considering going it alone!

Monday, August 1, 2011

Just for Fun...

I'm back from vacay and WHAT A DAY! So, in lieu iof a "real" post, I thought I'd post our new partner pics just for fun ;-0

Click here to see them!