Allen Tate Company is Top Carolinas-Based Real Estate Firm
Company ranks #7 among independent brokers on REAL Trends 500 report
CHARLOTTE, N.C. (May 3, 2010) – Allen Tate Company (www.allentate.com) is the top real estate firm based in the Carolinas and ranks #7 among the country’s largest independently owned, non-franchised brokers, and #15 among all brokers, based on closed transactions sides for 2009, according to the REAL Trends 500 report.
The annual report, which ranks the country’s top 500 real estate firms, will be published this month by REAL Trends, the nation’s leading publisher of trends and analysis of the residential real estate brokerage industry.
Allen Tate Company closed 12,600 transaction sides in 2009 to earn the rankings. The company also ranked #10 among independent brokers and #21 in the country among all brokers, based on 2009 closed sales volume.
“Allen Tate continues to lead the Carolinas as the top-ranked real estate firm based here,” said Pat Riley, president, Allen Tate Company. “It’s also a great honor to have name recognition among relocating clients who move here from other parts of the country and are familiar with us because of our national ranking.”
About REAL Trends 500
The REAL Trends 500 is an annual research report which identifies the country’s largest and most successful residential firms as ranked by closed transaction sides and separately by closed sales volume. This report represents the most trusted standard of measuring the performance of the nation’s leading realty service firms.
Friday, May 7, 2010
Thursday, May 6, 2010
Pending Sales on the Rise!
(Reuters) - Pending sales of previously owned homes hit a five-month high in March as buyers rushed to sign contracts before a tax credit expired, while a jump in factory orders underscored manufacturing strength.
http://bit.ly/dsnOuh
http://bit.ly/dsnOuh
Tuesday, May 4, 2010
Is the Madness Over?
If you a Realtor, you are probably feeling a little dazed from the mad rush of folks trying to take advantage of the tax credit over the last couple of weeks. While I do think some of the urgency is gone, I think when people realize that rates will be rising we will be right at it again! I know the last couple of days my phone has not rung quite as much, but folks are still on the hunt. Happy Spring!
Now... to the potential buyers out there... Rates today are 4.875 for conventional and FHA, but they will not stay that way. Economists and leading real estate indices are indicating a rise over the summer... and on a $100,000 property, even a half point can make a difference. So, even though you may have missed out on the tax credit, the early bird still catches the worm. Call me today if you have questions or are ready to get started!
Now... to the potential buyers out there... Rates today are 4.875 for conventional and FHA, but they will not stay that way. Economists and leading real estate indices are indicating a rise over the summer... and on a $100,000 property, even a half point can make a difference. So, even though you may have missed out on the tax credit, the early bird still catches the worm. Call me today if you have questions or are ready to get started!
Friday, April 23, 2010
Great Article for First Time Buyers!
http://www.frontdoor.com/Buy/Top-10-Things-to-Know-Before-Buying-Your-First-Home/55558
Tuesday, April 13, 2010
From the Blown Mortgage Blog
Loan Modifications, Foreclosures, Short Sales, and The Truth About Your Credit Score
Posted: 09 Apr 2010 08:04 PM
There has been a lot of ink spilled on the issue of loan modifications, foreclosure, short sales, and their effect on your credit score. Depending on which newspaper, blog, or Wikipedia article you read there are a couple dozen theories or authoritative statements on how the whole credit scoring system works.
If you are planning to do any of the above: modify your mortgage, foreclose on your mortgage, short sale your home, or any other loan related activity it is worth finding out what the effects will be on your credit score. But why is our credit score so important? And, how does your payment history affect it?
Your credit score is important because it summarizes your credit risk to lenders and businesses. It is a number that describes your financial reliability as a borrower. Some employers and landlords also use this score as one of many ways to get a background check on us. If we apply for a loan and our credit score is low we a) might not get approved, or b) will have to pay higher interest rates than if we he had a higher score. It is as simple as that.
What makes up your credit score?
The biggest factor is your payment history. Around 35% of your score is based on your borrowing and paying record. This is quite understandable; a lender is justified in wanting to know if you have paid your debts in the past. This does not mean that a single (or event two) late payment/s will automatically destroy your credit score. An overall good record of paying your loans could outweigh a couple of bad instances.
This doesn’t mean either that if you have no late payments you will have a perfect score (that would be 850, in FICO’s main scoring system), there are many other factors to consider.
How long will past delinquencies affect your credit score for?
Bankruptcies, foreclosures, wage attachments, and other cases of delinquency seriously affect your credit score. How recent and frequent a case of delinquency is also counts in your credit score. Bankruptcies will stay on your credit report for 7 to 10 years depending on what chapter you filed under. The good thing is that more recent activity in your account will weigh more in your credit score than older delinquencies. A foreclosure, even though some of our readers would like to believe otherwise, will stay on your credit report for a long time. How long is not specified by FICO, but even a 90 day late payment 5 years ago will affect your credit score. Although thankfully the longer ago a delinquency occurred the less effect it has on your score, which means it is worth trying to improve your score because what you do now will have a great effect on your score.
Posted: 09 Apr 2010 08:04 PM
There has been a lot of ink spilled on the issue of loan modifications, foreclosure, short sales, and their effect on your credit score. Depending on which newspaper, blog, or Wikipedia article you read there are a couple dozen theories or authoritative statements on how the whole credit scoring system works.
If you are planning to do any of the above: modify your mortgage, foreclose on your mortgage, short sale your home, or any other loan related activity it is worth finding out what the effects will be on your credit score. But why is our credit score so important? And, how does your payment history affect it?
Your credit score is important because it summarizes your credit risk to lenders and businesses. It is a number that describes your financial reliability as a borrower. Some employers and landlords also use this score as one of many ways to get a background check on us. If we apply for a loan and our credit score is low we a) might not get approved, or b) will have to pay higher interest rates than if we he had a higher score. It is as simple as that.
What makes up your credit score?
The biggest factor is your payment history. Around 35% of your score is based on your borrowing and paying record. This is quite understandable; a lender is justified in wanting to know if you have paid your debts in the past. This does not mean that a single (or event two) late payment/s will automatically destroy your credit score. An overall good record of paying your loans could outweigh a couple of bad instances.
This doesn’t mean either that if you have no late payments you will have a perfect score (that would be 850, in FICO’s main scoring system), there are many other factors to consider.
How long will past delinquencies affect your credit score for?
Bankruptcies, foreclosures, wage attachments, and other cases of delinquency seriously affect your credit score. How recent and frequent a case of delinquency is also counts in your credit score. Bankruptcies will stay on your credit report for 7 to 10 years depending on what chapter you filed under. The good thing is that more recent activity in your account will weigh more in your credit score than older delinquencies. A foreclosure, even though some of our readers would like to believe otherwise, will stay on your credit report for a long time. How long is not specified by FICO, but even a 90 day late payment 5 years ago will affect your credit score. Although thankfully the longer ago a delinquency occurred the less effect it has on your score, which means it is worth trying to improve your score because what you do now will have a great effect on your score.
Friday, April 9, 2010
rates for 4/9
15 year fixed 4.375%
5/1 Conventional ARM 3.625%
FHA 5.125%
VA 5.125%
NCHFA 4.75%
Investment 5.75%
5/1 Conventional ARM 3.625%
FHA 5.125%
VA 5.125%
NCHFA 4.75%
Investment 5.75%
Wednesday, April 7, 2010
"Long Distance" Agents
I saw a snippet of a newspaper article recently that was typical for these times -- written by someone outside the real estate industry, giving advice to home buyers and sellers without acknowledging that our industry is evolving and changing every day. Can you tell I was a little bothered by it?
Anyway, the article was advising home sellers that if their agent's "home base" was more than 15 miles from the location of their home, then they needed to pick another listing agent. The reasoning was that agents further than that could not be as responsive to buyers and buyer agents as one whose home base was closer.
WOW. I have an office on Stratford Road in Winston-Salem where I make copies, store files of old clients, etc. Most importantly, if the Real Estate Commission needs to contact me, they use that address. But my "real" office, where 99% of my negotiations, communications, etc, take place is wherever I am with my iPhone! Most of my active files stay in the backseat of my car, and I log tremendous miles every day driving from Pinnacle to Lexington to Greensboro to Elkin. I have the capability to fax, email, text, phone, etc. from anywhere. In fact, my office on Stratford is 45 minutes away from my very own home -- does that mean I am not qualified to sell my own house? No!
I am licensed to conduct business in the State of NC. I do not go beyond certain areas because I simply do not have the firsthand market knowledge to service customers in those areas. If you live outside of my comfort zone, I will let you know (as will most professional agents) and will help you find someone within your area to help. But please understand, just because I don't live in your neighborhood does NOT mean I can't represent you professionally and competently in a transaction.
Ok, thank you for indulging my tirade...
Anyway, the article was advising home sellers that if their agent's "home base" was more than 15 miles from the location of their home, then they needed to pick another listing agent. The reasoning was that agents further than that could not be as responsive to buyers and buyer agents as one whose home base was closer.
WOW. I have an office on Stratford Road in Winston-Salem where I make copies, store files of old clients, etc. Most importantly, if the Real Estate Commission needs to contact me, they use that address. But my "real" office, where 99% of my negotiations, communications, etc, take place is wherever I am with my iPhone! Most of my active files stay in the backseat of my car, and I log tremendous miles every day driving from Pinnacle to Lexington to Greensboro to Elkin. I have the capability to fax, email, text, phone, etc. from anywhere. In fact, my office on Stratford is 45 minutes away from my very own home -- does that mean I am not qualified to sell my own house? No!
I am licensed to conduct business in the State of NC. I do not go beyond certain areas because I simply do not have the firsthand market knowledge to service customers in those areas. If you live outside of my comfort zone, I will let you know (as will most professional agents) and will help you find someone within your area to help. But please understand, just because I don't live in your neighborhood does NOT mean I can't represent you professionally and competently in a transaction.
Ok, thank you for indulging my tirade...
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