Foreclosure Buzz

Good info on the recent foreclosure halt on the Allen Tate blog, "At Home in the Carolinas". Clink link to see more!

It's That Time of Year...

Even though it is sunny, warm, and gorgeous here in Winston-Salem today, the nights are getting cooler and cold weather is just around the corner. I know at my house we have actually run the heat a few times now (don't you love the smell when you run your heater for the first time?). This brings to mind some "to-dos" for the upcoming cooler (or just plain COLD) weather:

Have your heating system service and cleaned
Check the pilot light on your gas logs
Make your home more efficient by caulking, weather-stripping, etc.

For more ideas on things you can do to prepare for cold weather, just email or call me. Enjoy the sunshine!

Motivation

I read a great post on Steve Harney's blog about why we purchase certain homes. I hear so often from sellers "but I'm not going to make any profit." Fundamentally, though, do we choose a certain home because of its profit potential? Investors do, of course, when they are purchasing rental properties, but most of us choose a certain home for other reasons. Perhaps it is in the school district we desire for our children, or it has a unique layout that makes it possible for an in-law to visit frequently. Regardless, there are often factors at play that are more important than dollars and cents, and these are often motivating factors to which we can't assign a value. As your Realtor I am going to educate you about neighborhood values, but you have to decide if that is what really matters to you.

FHA 203(k) Streamline Loan Program Now Available

Breaking News!! Allen Tate Mortgage is pleased to offer the FHA 203-K Streamline Loan. It’s designed to help qualified borrowers purchase or refinance a home that needs non-structural repairs, and finance the cost of those repairs through the mortgage. It is only available for owner-occupied primary residences, and a minimum down payment of 3.5 percent is required.

A one-time close allows the borrower to finance up to a maximum of $35,000 to make
improvements. A minimum of $5,000.00 repairs is typically required to be eligible for this loan. Work must begin within 30 days of execution of the rehabilitation agreement at closing. Rehabilitation funds are escrowed and paid out to the customer and contractor jointly as work is satisfactorily completed. A specific time frame for completion of the work is noted in the agreement at closing. HUD requires all work to be completed within six months.

For more information, please email, call, or text me today! This is a fabulous opportunity for someone to buy a home that needs some work, but not have to pay for it out of pocket. A new HVAC, a new roof, even appliances can be purchased through this program. Some limitiations do apply, but don't you owe it to yourself to check it out?

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.

Mortgage Loan Application aka I'm Back!!!

You have probably noticed it's been a while since my last post -- 4 weeks in fact! -- but I am back now after basking in the bliss of having a beautiful new baby. Just let me know if you want to see pictures!

Anyway, I am working with several first time buyers or folks who haven't purchased in many years right now, and I often get asked what a lender will need for that first appointment regarding the oh-so-important loan application. Because being expedient in applying and getting the necessary documents together is part of a purchase agreement, it helps to know what to expect up front. The following is a comprehensive list of what most lenders will need:

-- Residence addresses for 2 years
-- Last 2 years of paystubs, W2s, tax returns, etc.
-- Names and addresses of all employers for last 2 years
-- Last 3 months bank statements for all savings & checking accounts
-- Addresses of all real estate owned with lender info, mortgage balance, monthly payment, etc.
-- A check to pay for your credit report and appraisal
-- Copy of purchase contract
-- Copy of divorce decree if applicable
-- Copy of bankruptcy papers if applicable
-- Certificate of eligibiltiy if VA

As always, I am here to help. Call, text, email, or tweet me today!