It's Crunch Time

I had 2 different people ask me today about the local market, and that is such a loaded question! Lisa and I are extremely busy, and for that we are so grateful, BUT we are also having to have some very difficult discussions with our clients. Sellers are no longer joyous when they hear they have an offer -- instead they cringe and ask "how bad is it?" Buyers are no longer optimistic about the value they are getting -- instead they are asking "what if the value ends up going down even more?" We don't have crystal balls, but it is more important than EVER to hire a trusted real estate professional. We can walk you through the process, whether buying or selling, and eliminate some of the guesswork. Contact us today -- don't wait for spring. Rates will be higher, and more homes will be on the market with which sellers have to compete. It's definitely crunch time!

WOWZA

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.

HOW CRAZY IS THIS??????

Endless Possibilities! Spotlight on Winston-Salem

Lisa and I have listed some fantastic homes in the last few weeks in Forsyth County, all in different price points and meeting different needs.

1005 Somerset is a WONDERFUL starter home in a location convenient to everything -- shopping, Forsyth Hospital, WFU-BMC, I-40, 421, etc. The owners have lovingly maintained it and as an added bonus pulled up some carpeting to expose gorgeous hardwoods and updated most of the fixtures. 2 of the 3 bedrooms are HUGE, and it has a wonderful fenced yard and roomy kitchen with lots of cabinets. Click here for a photo tour.

1154 Folkstone Ridge is new construction that is move in ready. It has an open living room, breakfast, kitchen plan with granite countertops and all bedrooms upstairs. It is located off Peters Creek Parkway and is yet another example of a killer location as it is in a nice neighborhood but is moments away from all you need. It even has that "new home" smell... check it out here.

Finally, 135 Almont Forest is tucked away in one of Clemmons' prettiest hidden neighborhoods. Whitmore Place is a quiet, tranquil community with a small community pool that is peaceful and affordable. It feeds to the new Morgan Elementary and has a versatile floorplan with upper level bedrooms, an open main level with wonderful updated kitchen overlooking a private backyard, and a finished lower level that accomodates a variety of needs. Click here for a tour of this move in ready home.

No Homes Available?

From KCM Blog:

It is also a terrific time to sell. I heard an agent say just last week that there is NO INVENTORY available. He further explained that properly priced homes are selling almost immediately and the only homes on the market more than 30 days are ones that won’t sell because of unreasonable seller expectations (and agents who aren’t strong enough to deliver the truth to those sellers).

THIS IS RINGING MORE AND MORE TRUE IN MY BUSINESS!

We Did it Again!

The numbers don't lie... Allen Tate Company out performed all other real estate companies in the Triad in the first half of 2010! There are lots of ways to interpret that statement, but we are proud to report that we closed more transactions than any other company from Jan 1, 2010 to June 30, 2010. To ask the proverbial question... do you want your home LISTED or do you want it SOLD?

Why Being a Mom Makes Me a Better Realtor

As I sit here watching my daughter blissfully nap in her swing and await the arrival of my husband and son home from a long day, I can't help but think about how being a mom has changed me. I knew it would change how I planned my daily life and how I spent my money, but I didn't realize that it would change the fundamental ways in which I look at everything, even my job. I have always worked with clients with concerns regarding neighborhoods, schools, etc. Those two things, among others, are important factors for home buyers with children. I have always understood that. I used to get that a certain school was important, or a neighborhood pool, for example, but now I GET IT. The welfare of your children colors every decision you make, from deciding where to eat supper to where to buy a home. We no longer come first, and I wouldn't have it any other way. Being a mom has made me more compassionate, empathetic, and patient (life was simpler when I didn't care so much!), and hopefully my clients will see that I really do GET IT now.

Do Not Wait!

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loan guaranteed by the Federal Housing Authority (FHA).

Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.

Here are a few reasons why:

On April 5, the cost of required up-front mortgage insurance for loan guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7000 down payment, the up-front mortgage insurance will increase by $965. Up front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal, but overall, the increase is still borne by the borrower both upfront and monthly.

Later this Spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6000 for a home purchase of $200,000.

Information courtesy of Jennifer Tuttle with Allen Tate Mortgage