Monday, November 23, 2009
New Listing in Clemmons!
If you need large rooms, all bedrooms and laundry on second level, and a fabulous neighborhood, check this home out! 6810 Gray Moss Court in Doublegate has multiple living spaces on the main level as well as a beautifully remodeled kitchen with quartz countertops and stainless appliances. The sellers have enjoyed making memories with their growing family here, but they are being relocated... are you in need of somewhere to make some memories? It's 4 bedrooms, 2.1 baths, and just a moment from the heart of Clemmons. View the link to find out more, and visit AmandaShore.com for an appointment.
Friday, November 6, 2009
Tax Credit Info!
President Obama has signed the bill... read on!
-- First-time buyers are eligible for up to an $8,000 credit and now have until April 30, 2010 to be under contract (and close by June 30, 2010).
--Repeat buyers who have lived in their current home for at least five consecutive years of the past eight years are eligible for a tax credit up to $6,500.
--Higher income limits - Both first-timers and repeat buyers may purchase a principal residence up to $800,000. Income limits to qualify have been increased to $125,000 for single tax filers and $225,000 for joint filers.
--Credits are effective NOW – The new legislation replaces the former tax credit scheduled to expire November 30. If you have active buyers who have not closed as of November 6, they now qualify for these credits if they meet the criteria.
--Credits do not need to be repaid – The credits for both first-time buyers and repeat buyers are true credits and do not need to be repaid unless the home is sold within three years of purchase. The credits are claimed on the buyer’s federal income tax return filed for the year they purchase their home.
--Interest rates are still historically low and selection is excellent. The rates are likely to rise in March when the Feds will pull back on the purchase of mortgage-based securities. Act now to lock in those low rates.
Info courtesy of AllenTate.com
-- First-time buyers are eligible for up to an $8,000 credit and now have until April 30, 2010 to be under contract (and close by June 30, 2010).
--Repeat buyers who have lived in their current home for at least five consecutive years of the past eight years are eligible for a tax credit up to $6,500.
--Higher income limits - Both first-timers and repeat buyers may purchase a principal residence up to $800,000. Income limits to qualify have been increased to $125,000 for single tax filers and $225,000 for joint filers.
--Credits are effective NOW – The new legislation replaces the former tax credit scheduled to expire November 30. If you have active buyers who have not closed as of November 6, they now qualify for these credits if they meet the criteria.
--Credits do not need to be repaid – The credits for both first-time buyers and repeat buyers are true credits and do not need to be repaid unless the home is sold within three years of purchase. The credits are claimed on the buyer’s federal income tax return filed for the year they purchase their home.
--Interest rates are still historically low and selection is excellent. The rates are likely to rise in March when the Feds will pull back on the purchase of mortgage-based securities. Act now to lock in those low rates.
Info courtesy of AllenTate.com
Sold Data on AllenTate.com
Have you ever wondered how much your neighbor down the street got for his home? While sales data has always been public record, AllenTate.com has made that information available with just the click of a mouse! So... if you are considering making improvements to your home, refinancing, or selling, but you don't want any major expenses before you do some research, got to AllenTate.com. Click on property search, then on Interactive Tate Map. Enter the address of the property you would like to search, and voila! Easy as pie!
Friday, October 23, 2009
Why Social Media?
A lot of Realtors are utilizing Facebook, Twitter, LinkedIn, etc. as a way to promote their business and their properties. The following is from an article written by Allen Tate Company President Pat Riley:
"Social media is the new elephant in the living room. As Realtors, we know it's there and that we should do something with it. But many of us are struggling with what to do and how.
...Allen Tate Company understands this is what homebuyers and sellers want -- and that has always been our first criteria for any new marketing approach.
...According to a June 2009 Nielsen study, social media usage has increased by 28% in just one year. More than 138 million people engage in social media. Facebook users have increased by 198%, and Twitter has increased a whopping 1,928%!
But that's teenagers, right? Surely not people who buy homes. Not that case. Social media users represent a highly desirable segment of the buying public. While some social media sites like MySpace cater to the teens and tweens, social media users are 38 year old women, with an above average income of $68,311. And they're more tech-savvy than the general population.
...According to the NAR, the typical homebuyer is 39 years old and female. And 87% of today's buyers like to view homes and get home information online."
So, whether you like to communicate via email (amanda.shore@allentate.com), mobile phone (336-244-4269), Facebook (Amanda Key Shore), or twitter (@amandashore), I am ready for you!
"Social media is the new elephant in the living room. As Realtors, we know it's there and that we should do something with it. But many of us are struggling with what to do and how.
...Allen Tate Company understands this is what homebuyers and sellers want -- and that has always been our first criteria for any new marketing approach.
...According to a June 2009 Nielsen study, social media usage has increased by 28% in just one year. More than 138 million people engage in social media. Facebook users have increased by 198%, and Twitter has increased a whopping 1,928%!
But that's teenagers, right? Surely not people who buy homes. Not that case. Social media users represent a highly desirable segment of the buying public. While some social media sites like MySpace cater to the teens and tweens, social media users are 38 year old women, with an above average income of $68,311. And they're more tech-savvy than the general population.
...According to the NAR, the typical homebuyer is 39 years old and female. And 87% of today's buyers like to view homes and get home information online."
So, whether you like to communicate via email (amanda.shore@allentate.com), mobile phone (336-244-4269), Facebook (Amanda Key Shore), or twitter (@amandashore), I am ready for you!
Monday, October 19, 2009
Advice for First Time Buyers
I am working with several first time homebuyers right now, and 3 themes keep recurring. Before you get started on the road to homeownership, keep these 3 things in mind:
#1 - Allow more time than you think you will need. With the abundance of homes on the market right now, you will probably want to view quite a few before you make your final decision. After all, there are no returns on a home purchase -- you can't just take it back if you don't like it! Additionally, because of new lending guidelines, loans are taking longer and longer to close. No longer is 3-4 weeks from contract to close the norm. A much safer time frame to expect now is 45 or even 60 days.
#2 - Get a home inspection. Your cousin may be a first class handyman, but will he know to run the dishwasher through a cycle while checking to make sure the emergency heat works and the kitchen and bathroom outlets are GFCI protected? I had clients once who did not want to spend the money on a home inspection because they knew the seller, and the seller said everything was fine. The day after closing, their water heater burst and ruined all the hardwoods in the house. A $350 inspection could have saved them $3-4000 on new floors.
#3 - Get all the local professional help you can get. A Realtor can help you not only with finding homes to view but also with determining which neighborhood is best for you, which home is the most realistically priced, what zoning issues may exist, etc. A local lender is accountable not only to you but to your Realtor as well -- no one in PA at lendingtree.com is planning on getting future business from you, so they do not have as high a stake in surpassing your expectations. Finally, a local attorney will be familiar with the protocol of the local tax office, register of deeds, and lenders. This can save you from problems at the closing table that could make the difference between moving into your new home on Friday afternoon or moving into Hotel 6.
#1 - Allow more time than you think you will need. With the abundance of homes on the market right now, you will probably want to view quite a few before you make your final decision. After all, there are no returns on a home purchase -- you can't just take it back if you don't like it! Additionally, because of new lending guidelines, loans are taking longer and longer to close. No longer is 3-4 weeks from contract to close the norm. A much safer time frame to expect now is 45 or even 60 days.
#2 - Get a home inspection. Your cousin may be a first class handyman, but will he know to run the dishwasher through a cycle while checking to make sure the emergency heat works and the kitchen and bathroom outlets are GFCI protected? I had clients once who did not want to spend the money on a home inspection because they knew the seller, and the seller said everything was fine. The day after closing, their water heater burst and ruined all the hardwoods in the house. A $350 inspection could have saved them $3-4000 on new floors.
#3 - Get all the local professional help you can get. A Realtor can help you not only with finding homes to view but also with determining which neighborhood is best for you, which home is the most realistically priced, what zoning issues may exist, etc. A local lender is accountable not only to you but to your Realtor as well -- no one in PA at lendingtree.com is planning on getting future business from you, so they do not have as high a stake in surpassing your expectations. Finally, a local attorney will be familiar with the protocol of the local tax office, register of deeds, and lenders. This can save you from problems at the closing table that could make the difference between moving into your new home on Friday afternoon or moving into Hotel 6.
Tuesday, October 13, 2009
Mountain Views and Mayberry
Ever watched The Andy Griffith Show? If so, you know it centered around life in "Mayberry" and that "Mt. Pilot" was the nearest city with any modern conveniences. Did you know those were based on real places?
I have just listed a property in Mt. Airy ("Mayberry"). If you go downtown, you can visit Snappy Lunch for a DE-LIC-IOUS pork shop sandwich, visit Floyd's barber shop, and even meet "Otis" out for a stroll. My property is on the outskirts of Mt. Airy... far enough from town to be nice and quiet yet close enough to be convenient. And, from the back patio you can see Pilot Knob, the namesake of Pilot Mtn. ("Mt. Pilot"). Sure, lots of folks have mountain views, but how many can say they have a famous mountain view?
I have just listed a property in Mt. Airy ("Mayberry"). If you go downtown, you can visit Snappy Lunch for a DE-LIC-IOUS pork shop sandwich, visit Floyd's barber shop, and even meet "Otis" out for a stroll. My property is on the outskirts of Mt. Airy... far enough from town to be nice and quiet yet close enough to be convenient. And, from the back patio you can see Pilot Knob, the namesake of Pilot Mtn. ("Mt. Pilot"). Sure, lots of folks have mountain views, but how many can say they have a famous mountain view?
Tuesday, October 6, 2009
Price Point is KEY
From SteveHarney.com:
"There is much discussion about how the real estate market is in the middle of its turnaround based on sales increasing on a year-over-year basis. Though the fact that housing is again moving is fabulous news, let's not lose sight of which homes are selling.
Here is a closer look at different price ranges and how they are faring in the current "boom":
$0-100,000 sales up 38.8%
$100,000-250,000 sales up 8.7%
$250,000-500,000 sales down 6.2%
$500,000-750,000 sales down 8.9%
$750,000-1,000,000 sales down 10.6%
$1,000,000-2,000,000 sales down 23.3%
$2,000,000+ sales down 32.4%"
Moral of the story?? Units may be up, but lower priced properties are selling quicker... so pricing is KEY!
"There is much discussion about how the real estate market is in the middle of its turnaround based on sales increasing on a year-over-year basis. Though the fact that housing is again moving is fabulous news, let's not lose sight of which homes are selling.
Here is a closer look at different price ranges and how they are faring in the current "boom":
$0-100,000 sales up 38.8%
$100,000-250,000 sales up 8.7%
$250,000-500,000 sales down 6.2%
$500,000-750,000 sales down 8.9%
$750,000-1,000,000 sales down 10.6%
$1,000,000-2,000,000 sales down 23.3%
$2,000,000+ sales down 32.4%"
Moral of the story?? Units may be up, but lower priced properties are selling quicker... so pricing is KEY!
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