Brooke's Real Estate Report

Commerce Makes Me Cry...

2012-01-31T11:05:00.000-05:00

I spend a lot of time on the road. Actually, that really may be an understatement. Given the nature of my career which demands quite a bit of road time--showing homes, picking up documents, listing appointments from the Triad to Triangle and having an active 11 year old--let's just say the 'ol Honda gets it's fair share of use.

I40/85 has become a new hang-out of mine, as our team recently expanded into the Triangle market after 12 successful years in the Triad. Several days a week I make the relatively short jaunt back and forth from Winston-Salem to Raleigh, passing all kinds of people, in all makes and models of automobiles but most of all, I see lots of trucks! Flat-beds loaded with machinery, military equipment and lumber; transfer trucks hauling livestock (always seems to be hogs), fast-food replenishment and other freight; and a variety of other multi-axle vehicles designed specifically to carry goods across our state, nation and continent. Let's just say, sometimes it brings a tear to my eye...

I am sure by this point you are asking yourself what the heck I'm talking about and if I have finally gone over the edge...is the economy so poor that I am in tears about it's future? Nope, just the opposite. I am moved to get misty-eyed when I think that somewhere in our great nation and most likely in our great state, an entrepreneur has taken the wherewithal, to think up a product that can make his fellow man's life easier or more full-filled. This same individual produces said product, markets it with a fervor and passion that creates a following (desirability) or a need and therefore the demand becomes so great that he must find a way to bring that product to the masses, thus employing the very vehicles mentioned above.

These multi-colored vessels of commerce are daily testaments to our mind and it's boundless energy. We noticed, with a sad tug of something we might not have been able to identify, when truck-traffic temporarily thinned out after 9/11. Something just wasn't right...we could feel it...

As I drive today across the roads and interstates of North Carolina, along one of the most productive and busiest commercial corridors in the nation, I am reminded of my own potential and the potential of my fellow commuters, as we all play an integral part in the strength of our economy, locally, nationally and globally. It is not only inspiring, but it stirs a place in my soul that reminds me, that I'm unique, I can produce and therefore earn, I can influence our economy...and I will...because I'm an American.

For ITIN Borrowers There Is Still Housing Opportunity...

2012-01-17T13:29:00.000-05:00

Just an interesting bit of info I acquired in the past 24 hours. There are still lenders out there who will loan to folks that have ITINs. If you are asking yourself, what exactly an ITIN is, then you probably don't or won't need one. ITIN, stands for Individual Taxpayer Identification Number. These are issued by the government to documented workers for purposes of collecting taxes.

If you are a holder of an ITIN you can still purchase real estate in the United States, however, it has become more scrutinized as additional information and documentation is now required on the status of the holder's visa. It can depend on the stability of your employment, debt to income ratio and other fairly standard rules of thumb for discerning qualified buyers.

The good news is that this product still does exist. I had been under the impression that it was gone with the plethora of other boutique loans that disappeared.

If you are a buyer looking to purchase a home and have an ITIN, feel free to call me or email me to be put in touch with our Allen Tate Mortgage representative who can assist you in the qualification process.

Brooke

Those Pesky Pieces of Paper...

2012-01-09T17:19:00.000-05:00

They're everywhere you turn...in a drawer, dog-eared in a book, stuffed in your wallet or crammed in a file--your subtle attempt at organization and accountability. Yet, every year, it's the same thing, pulling all of those receipts together for tax time. Yup! It's that time of year again. Just when you breath that sigh of relief that the last Christmas gift return is made and you are looking to the upcoming Super Bowl and Publisher's Clearing House Sweepstakes, you remember that there's a stack of paper and Uncle Sam gently nudging you "to get it together".

Each January, Jake and I open our credenza and stare wide-eyed and the file of receipts from the previous year. From donations to business expenses and everything in between we vow that next year, we will start with separate files for each group. But like any resolution, life gets in the way and old habits die hard when you're in a hurry with day to day nuances, so the stuffing begins. It's well-intended at first, so few in the file that you can organize them appropriately next week. Then the file balloons a little during the first quarter and you vow that when you turn in your taxes to the accountant in March or April, you'll reorganize then. Well, you're so exhausted by the rigor that the IRS puts you through, you feel as if you are owed a break--receipts be damned, you can do them over the summer but before half the year is up. Fast forward to "back to school" and getting re-organized for the new school year and the file is already starting to look like it ate a ticker-tape parade. By that time, it's too far gone and you know that you'll just organize it over the Christmas break when you have "plenty" of time. Yea right!

So here we are, receipts of all shapes and sizes. Handwritten notes grace their margins and in reality it's a little like a trip down memory lane when you sort them at one time. A timeline of sorts--your personal year-in-review. Easy to tell if the year was good (fat file) or if it was lean. It's a great time to set goals for business planning, technology upgrades and personal savings. Those tiny, tangible tickets of your memories are there for you to study and assess in preparation for your future while appreciating the blessings of your recent past.

Organizing them throughout the year just wouldn't be right...

Brooke

A History Lesson...

2012-01-03T11:32:00.000-05:00

Over the holiday break, we decided to take a quick jaunt to Colonial Williamsburg/Yorktown and Jamestown, otherwise known as the Historic Triangle. This is a trip we have been wanting to take Maddie on for quite sometime so we headed north the day after Christmas.

We stopped along the way at Shirley Plantation, one of, if not the oldest plantation in Virginia, still owned 12 generations later by the Carter family. We then arrived to a cold rain in Williamsburg and took in a few of the indoor sites late in the afternoon. We spent the remainder of the evening enjoying some 21st century entertainment, watching NCSU win the Belk Bowl. We also took some time to plan the next few days activities and events so that we could absorb as much as we could in the short period we were there. One of the events we planned was a lecture with Patrick Henry which was to commence at 10 am at the Governor's Palace gardens.

We arrived early only to find out that Patrick Henry was under the weather and George Wythe would be speaking in his stead. It all worked out as Mr. Wythe elaborated on the importance of a classical education being made available to the nation and the necessity to keep laws short in length. His recommendation was to keep them down to one page or less to avoid "unnecessary mischief" being embedded subsequent pages. The particular bill he was upset about was a whopping 41 pages filled with all kinds of irrelevant fluff, imagine what our founding fathers would have thought about some of the bills that are passed today, such as health care reform!

The education portion of his lecture was very interesting, for it did not go into detail over what should or should not be taught, however it focused on educating our nation in the skill of thinking for oneself in the classical manner, questioning, debating, basic reading, writing and arithmetic. It struck me how wound-up today's educational system gets over content of text books, zoning and redistricting, when such a large majority of our students don't have the basics mastered. The detriment, described Wythe is that a government that allows for ignorance is one that is doomed for uprisings and class warfare. Our current educational system certainly provides the notion that all are or have the ability to be educated, but as we well know, this education is very "surface" and the lack of depth and true self-improvement has created a society that knows more about the latest video game or Hollywood gossip than the very system that allows or limits our basic rights.

I could ramble on about this at length, however, my point is that the trip opened our eyes up to the challenges the budding country had and the challenges that our current nation still faces. It also further reinforced the notion that our government was established not to dole out rights like rewards or provide us with everything we need to survive on a daily basis, however it was established to make sure that no one or government could encroach on our basic rights. This was configured so that nothing could stand in our way as citizens who were using their minds and bodies to create a better life for themselves. It was not originally contrived as a crutch on which to lean out of lack of ingenuity and effort.

We could all use a little more "schooling" on our country's foundation and three days did nothing but "whet" my appetite to educate myself more on this subject. If you get the chance, jump on 85N, head over to Petersburg, check out the battlefield and Blandford Church, take Scenic Route 5 which winds with the James River and then head into the Historic Triangle for a step back in time.

Brooke

Appraisals Setting Market Values? New Trend?

2011-11-29T16:33:00.000-05:00

There's always a first. First closing, first fall-through, first family transaction...you get the picture. There's always a first and usually it's not the last, just an indicator of things to come or a flashing warning sign of things to never involve yourself in again. Sometimes you see the red flags and despite years of experience, you fail to heed them. Surely, you think to yourself, this can't be what it seems. Well, usually it is. Walks like a duck, quacks like a duck, again, you get it.

Because I deal with clients from all over the world, I have learned that past real estate experiences in other locations tend to color the transaction that the client and I are currently involved in. Sometimes good, sometimes bad. Poor market conditions, including a glut of inventory, plummeting prices and poor professional guidance can create negative residual reactions for future transactions. Stay with me.
Poor market conditions in another state, coupled with life-decisions being made regarding retirement and downsizing made my buyers paranoid about real estate values and rightfully so. Their home, a once stable investment, did not quite bring what they felt it should in today's market, leaving them with a sour taste in their mouths. Per our conversations, their real estate guidance back home was non-existent. When I asked questions about marketing, contingencies, financing options, etc. they looked at me as if I were speaking parseltongue.

Fast forward...we find a house here that meet their needs and is in the price point that they would like to be in. We have viewed over 50 homes in the past year while their home has been on the market, always toying with the idea of buying before the current home sold. Now that it was under contract, time was of the essence in regards to finding a place for them to rest their heads. Now keep in mind, we have viewed tons of homes in a variety of areas, all similar in spatial needs and between a certain range. We have now located one, which according to my past experience, should mean that this is the best home that the buyer has seen, in regards to condition, location and pricing...(that's how homes make it to number one on a buyers' list).

Time to make an offer. Rather than sit down and look at comparable homes that are active (we have seen all of these) or take an in depth look at similar homes sold in the past 90 days, these folks ask for an appraisal. Wow! Didn't see that coming! I am used to negotiating a price based on what the buyer and seller feel the home is worth in today's market, getting it under contract at terms everyone can live with and then "verifying" the price and terms with a certified appraisal. This seemed all backwards--but was it?

The question that I am taking away from this experience is multi-faceted...Who sets the price? What is happening to fair market value in an era of government regulated loans and appraisals? Since when did buyers and sellers not feel like they have the information to make decisions without being dictated by a third party who knows nothing of their personal needs and real estate desires?

The biggest problem I see with this "new" direction is the lack of comparable homes that appraisers have to work with. If there are not three similar homes sold in the past 90 days then appraisers are digging to find homes that are close in proximity but may be quite different for a variety of reasons. You may say "well they are going to have to do it for the bank appraisal anyway" and you are right, but its funny that once a sales price is set between buyer and seller, unless it is way off base, comps are usually found and adjusted accordingly. It's this "pull a value out of the air" using any homes that the appraiser may personally deem reasonable, that I am trying to wrap my mind around.

So the question begs to be asked...What are your thoughts on pre-appraisals and do you see this as something you would consider doing or is the notion that you are buying the best house out there for you and your family's needs enough to base price on?

Until Then...

Brooke

Thankful for Thanksgiving!

2011-11-18T16:50:00.000-05:00

Whew! I am feeling it! The button on my jeans is crying to be released! The kick-off to the holiday season began today at our Allen Tate office in Winston-Salem. With over 60 agents in attendance and everyone bringing 2-3 side dishes and the staff providing turkey, ham, mashed potatoes and gravy, let's just say, I don't know how I am going to make it to the new year! I looked around the room and I certainly was not the only one feeling the love for this mega-buffet. Plates were bending, folks were eating while in line in order to make more room on their plate, seconds were served and the crock-pot full of gravy didn't stand a chance by the looks of this crowd. We've been waiting for this...

It makes you really appreciate a group of fellow Realtors under one company that can gather to gather, take time out of their busy schedule and share the harvest with each other. Sure war stories were exchanged right along beside the recipes, plenty of ribbing about being airlifted out of the room or having the wrecker service drag someones chair to their office, but it's like one big family complete with love and plenty of sarcasm.

I am thankful not only for such a supportive group of co-workers but also, an amazing company that is always ahead of the technology and marketing curve, a top-notch year where we have grown our team with two additional full-time agents and a full-time assistant, a market where jobs are being created everyday and my family both at home and at work. Sure makes my life a lot more enjoyable and for this I Thank God! Happy Thanksgiving!

Brooke

Luxury Listings...Be the Jewel in the Crown!

2011-11-15T17:42:00.000-05:00

As a founding member of Leading Real Estate Companies of the World, Allen Tate Realtors, has access to amazing exposure for your luxury home by way of their Luxury Portfolio. Luxury Portfolio is a dedicated program of print and internet advertising that focuses on, well, you guessed it, luxury living. As we all know, every man's home is his or her castle, so first there has to be a guideline as to what determines a luxury listing. For Luxury Portfolio, a qualified luxury home, must be a residential property price over $750,000.

This figure is the key that opens up a plethora of doors across the world, therefore exposing your home to discerning buyers in every country. Armed with high resolution photography and photos that resonate the quality and unique attributes of these homes, Luxury Portfolio does more than just throw your home into the mix of the millions of homes on the market--it positions it as a unique jewel among others in the "luxury" crown.

Most of the homes in the Luxury Portfolio have online-floor plans that allow you to view the layout of the home. The floor plans coupled with a gracious number of quality photos, allows buyers to really get a feel for the home prior to their visit. The homes appear in a variety of print publications and as sellers, you receive complimentary copies of most of these publications. Homes in Luxury Portfolio also qualify for Wall Street Journal advertising as well as Unique Homes Magazine which you may have flipped through the last time you were at Barnes and Nobel. The homes are also stars in their own YouTube channel available to buyers who like to virtually tour homes.

So what are you waiting for? Thinking of selling your luxury listing? Give Brooke Cashion & Associates a call/text/email and we would love to sit down and share with you not only Luxury Portfolio, but all of the unique goodies that we have to offer. It's company and team tools such as these that have given us a "leg-up" in this market, allowing us to increase our business in 2011 over 30%. Let us share our experience and attention to detail with you!

Brooke

Trick or Weak?

2011-11-01T12:14:00.000-04:00

Ok, I did the parent-thing and braved the pouring rain, drove to a different neighborhood so that Maddie could walk with her friends and basically allocated the entire evening to this "holiday". Much to my surprise (ok, I really wasn't that shocked), kids just don't have the "salt" my generation had when it came to trick or treating.

Not only are costumes bought or basically "stage-quality" these days, but kids just don't have the passion that we had to fill their bags to the brim and to run full-on from house to house before "quittin' time". Maddie's costume was hand-made by my mother-in-law at Maddie's request and let me tell you, it was such a nice costume that I told Maddie it may very well be her Christmas dress or at least be donated to the Little Theatre. Tongue in cheek, maybe, but it definitely was nicer than some of the holiday dresses I owned growing up.

I digress...We arrived at 5:30 across town to enjoy chili with school friends and then as soon as we stepped out of the door into the rain, the complaints began in a cacophony from the 6+ kids in the group. They ranged from:

"I don't want to carry the umbrella will you hold it for me?"..."I don't want to carry my candy bucket, it's too heavy!"..."My feet are wet!"...."My feet are cold!"..."I don't like that candy!"..."I'll just wait here, that driveway is too steep, too far, too dark, too wet"...."I hate this wig"..."Can we go back home?" (this was after two houses!)

Now, all of these did not come from only one kid or even my Maddie (of course not) but let's just say, we left after only an hour of trick or treating. We made our way home in relative silence and decided that we would do some door to door in our 'hood--which we did. Just me and the kid...I'll show her how it's done. Well, Maddie lucked up, we hit over 20 houses in under 15 minutes and because she was on the end of our neighborhood Halloween curfew (something else I have NEVER heard of-who imposes a CURFEW on Halloween?!?!), she got tons of candy because of folks trying to get rid of it. It's all about strategy--SCORE!

I don't know what happened to Halloween in the past 30+ years, but I do know that we only got these kinds of candy ONCE a year and it lasted forever, sometimes we rationed 1-2 pieces a day to make it last. Halloweens of yesteryear (circa 1977-87), were so cold, I had to wear layers of clothes that included long johns, gloves and multiple pairs of socks. It always rained that was a given! The houses were at least a quarter mile apart, not a few feet! My costume was usually thrown together out of my closet but if I was lucky enough to talk my mom into a mask from Roses, it didn't breathe at all and it would be totally wet and gross when I took it off. We started when it got dark and stayed out until the last porch light went out...our parents didn't go with us to each house and we ran until we were drenched in sweat from house to house, shedding layers at will! We walked three miles up hill and back with 20 lbs sacks of candy...Our bags were overflowing and our energy spent...when we got in, we sorted the candy by category, looked for razor blades and drugs (some of us, even took our candy to the hospital to have it x-rayed) and then we gorged! We ate what we wanted and our parents did too, always helping us by eating the Bit-O-Honey's and those black and orange candies that no one knew what they were. A scary movie was always on, like The Howling or Twilight Zone and we curled up and winded down...Come on kids! Next year step it up, train early, let's bring it back old school!!

Lou Baldwin--Carrying the Torch for NC Realtor Association

2011-10-21T13:18:00.000-04:00

Great article in today's edition of Triad Business regarding Lou Baldwin, the upcoming President of the North Carolina Association of Realtors. Lou and I have served many years together on various committees and projects both with the Winston-Salem Association of Realtors, Realtors for Burr and others. He is definitely an asset to any organization he is a part of and continues to reach a "hand back" to help those around him to be involved. Enjoy!

Lou Baldwin Faces Challenges and Opportunities Ahead

It's Just One of Those...

2011-10-03T12:48:00.000-04:00

I see a lot of, homes. It goes with the territory. We tell clients everyday that no home is perfect but a few do come awfully close. Take for example my newest listing at 130 Stanley Farm Road in Kernersville. Now it's a little out of my price range, but if I were looking for great value in the heart of the Triad--this is it!

Priced competitively at $750,000 and situated on 2.53 acres, this home speaks to the owner that pays attention to every detail and knows what it's like to live the "good life". Elegant but not ostentatious, practical but not "simple" this home embodies what Southern living should be.

At first glance, it's hard not to notice the meticulously manicured lawn, edged beds and mature growth trees that surround the property. This level lot sits off of a side road outside of one of Kernersville's most popular subdivisions and is not encumbered by an HOA or restrictive covenants.

Enter the main foyer and you are immediately stunned by the gently curving staircase, soaring ceilings and the wide, custom trim. From the music room with it's palladium window to the arched framing of the great room you still feel as if you can come in and actually relax. Nothing stuffy or presumptuous here. The main level master allows for a majority of main level living if you so choose. Central vacuum, granite counters, hardwoods, custom cabinetry, gracious windows, large pantry, main level laundry with sink, and all of the other high-end "basics" you would expect. Then prepare for the unexpected such as TONS of walk-in attic storage, exterior hot water access, back-access stairs to game/bonus room, two large formed stone, gas-log fireplaces and an entire in law/teen suite in the full-finished basement. Four garage spaces in the main house, three on the main level and one basement garage. There is also a detached storage building with one garage and a workshop area, complete with cooling, electricity and cable! Just beside of this building and tucked into the woods is your very own golf hole!

Custom built by one of Kernersville's most reputable builders you can tell that this home was built with family and friends in mind! Give me a call, I would love to show you this Southern charmer if you are looking in this price range. Otherwise check out the link to view additional photos. Please feel free to give feedback as to how we can make this home show it's true charm in our marketing.

130 Stanley Farm Road Kernersville NC

Lay of the Land...Why a Survey Matters More than Ever!

2011-09-28T12:48:00.000-04:00

As a personal rule of thumb and as an Allen Tate company policy we ALWAYS recommend a property survey when purchasing a home or vacant land. I say that up front because so many buyers choose not to have a survey performed when buying. We see the choice made, not to have a full survey frequently in platted subdivisions or existing homes where sellers sometimes provide the new buyer with an old survey, thus luring the buyer into a sense of security which may not always be accurate.

To start, let's define what a survey is. According to dictionary.com a survey is to determine the exact form, boundaries, position, extent, etc., of (a tract of land, section of a country, etc.) by linear and angular measurements and the application of the principles of geometry and trigonometry.

Now, this may sound complicated because it is. Eye-balling corners or assuming that tree lines are boundaries and that fencing setbacks are correct, is not something that a lay-person can perform with any semblance of accuracy. It takes a trained eye to determine boundaries by looking at historical metes and bounds references, old irons and landmarks and other varying documentation and topography.

Recently, surveys have "saved" several of my clients by providing additional information that was not discovered during the abstract research process that the attorney performs for title, by identifying ownership and therefore maintenance obligations of fencing and by determining appropriate setbacks for desired future improvements to the property.

In the grand scheme of things, surveys are a small price to pay in order to make sure you are getting what you bargained for. Not to mention the actual copy of the survey can be attached to or referenced in the new deed in order to insure additional confidence for yourself and future buyers.

So don't skimp...buying real estate is one of, if not the largest investment, you will ever make. Make sure you have a survey every time you buy so you DO get caught holding the "flag"...

Happy House Hunting!

Brooke

Beltway Project to Begin Sooner Than Anticipated...

2011-09-09T10:28:00.000-04:00

For residents in Forsyth county affected by the Eastern Loop of the beltway, the news that Governor Perdue delivered at Tuesday's Transportation Summit was music to their ears. For almost 25 years the beltway has been proposed to circumvent the ever-congested highways and interstates that dissect Winston-Salem. The swath of the projected path has held up hundreds if not thousands of residents from selling their homes, making basic permitted improvements and has created a sense of uncertainty that only adds major anxiety in already tough economic times.

If a homeowner in the original projected path wanted to sell, they had to disclose that the area may in fact be either purchased or impacted by the road project. This impact could range from something as simple as being several hundred yards away, no closer than they currently were to I40 or from something complex and usually ambiguous such as noise cone projections, landscape berms and buffers or actually seeing their home in the mist of the proposed road bed. Deciphering these complex engineered maps that were provided online and constantly in a state of flux was left best to engineers and other transportation experts. However, even they could not give a timeline, project approval or home buyout offers. As a result, these land and home owners were forced to "sit" on property that had in many cases decreased in value as a result of the proposal. Bottom line was who would want to buy one of these properties without knowing the true future impact whether good or bad? Fast forward to today.

In recent months the DOT has been very aggressively purchasing properties in the proposed area for residents that can fill out the paperwork, get the appropriate letters in place and prove that they have a financial or physical hardship. These hardship purchases in my opinion were a good start and have gone very smoothly with processes in place that all of the sellers and buyers I have worked with, feel are very fair and seamless.

It is my sincere hope that with the Governor's announcement that the remainder of the properties can be acquired beginning in 2013 so that these folks can move on with their lives and rid themselves of the uncertainty that this has brought. According to Perdue's statement, purchases will begin 2013 with construction on the first segment beginning 2014. Folks that is just around the corner and couldn't come soon enough!

Are you being impacted by this project? If so what are your thoughts on the Governor's plan? To read a great summary article from The Triad Business Journal click the following link:

Governor Perdue Commits To Starting Urban Loop

Five Great Reasons to Sell Your Home--Steve Harney--KCM

2011-09-06T12:38:00.000-04:00

5542 Louis Sells Road Kernersville NC 27284--$375,000

5.5 +/- Acres NO CITY TAXES!!

Like this pic? Check out this new listing www.allentate.com/BrookeCashion/621285

Homes Look Better Now! Find Out Why NOW Is the Time to Sell...

http://kcmblog.com/2011/09/06/5-great-reasons-t-sell-your-house-today-2/

New Appraisal Changes Effective September 1st May Impact Lending Practices

2011-09-06T11:31:00.000-04:00

In an attempt to make appraisals more uniform and accurate new changes and additions have recently gone into place effective first of September. These changes mean that the timeframe in which a loan closes could be impacted as more detail will be required on these reports. This may in fact be one step in the right direction in a real estate world where comparable properties can be scarce at best depending on the market you're in. The new standards will require the below "ratings" to be assigned to the properties used, including the subject. In my opinion, this will "fix" the problem of appraisers using "comps" that may be similar in size and location but don't always accurately take into account the overall quality of construction, condtion and upgrades to the properties involved. How do you think these changes will effect lending? I am especially interested in hearing those comments from those of you directly involved in the industry...lenders, agents and appraisers. Please note, the information provided below is courtesy of an information email sent to me by Luann Davis of Starkey Mortgage.

Rating Description

C1 The improvements have been very recently constructed and have not previously been occupied. The entire structure and all components are new and the dwelling has no physical depreciation.

Note: Newly constructed improvements that feature recycled materials and/or components can be considered new dwelling provided that the dwelling is placed on a 100% new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured into like-new condition. Recently constructed improvements that have not been previously occupied are not considered "new" if they have any significant physical depreciation (newly constructed dwellings that have been vacant for an extended period of time without adequate maintenance or upkeep)

C2 The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and are similar in condition to new construction.

C3 The improvements are well-maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every major building component, may be updated or recently rehabilitated. The structure has been well-maintained.

C4 The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate.

C5 The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains usable and functional as a residence.

C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components.

Rating Description

Q1 Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user. Such residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship and exceptionally high-grade materials throughout the interior and exterior of the structure. The design features exceptionally high-quality exterior refinement and ornamentation, and exceptionally high-quality interior refinements. The workmanship, materials, and finishes throughout the dwelling are of exceptionally high quality.

Q2 Dwellings with this quality rating are often custom designed for construction on an individual property owner's site. However, dwellings in this quality grade are also found in high-quality tract developments featuring residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high-quality exterior ornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.

Q3 Dwellings with this quality rating are residences of higher quality buildings from individual or readily available designer plans in above-standard residential tract developments or on an individual property owner's site. The design includes significant exterior ornamentation and interior that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been upgraded from "stock" standards.

Q4 Dwelling with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature some upgrades.

Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or basic floor plans featuring minimal fenestration* and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive stock materials with limited refinements and upgrades.

*Fenestration – the design and disposition of windows and other exterior openings of a building.

Q6 Dwelling with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or without plans often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or nonexistent. Older dwellings may feature one or more substandard or nonconforming additions to the original structure.

Docusign--Gone With the Wind?

2011-08-11T10:49:00.000-04:00

Agents are always looking for ways to help their clients save time, energy and money during the real estate process. Last year, after much skepticism, I purchased a virtual signature program called Docusign. The premise of Docusign is that you can mark up a contract with virtual signature/initial tags in pdf format and send it via email to your clients for their virtual signature. The process is accepted by the attorney general in all 50 states and has a verification process and affidavit that is supposed to protect consumers.

Upon first use of this product, not only was I hooked but my clients loved it! Why drive to my office or print out a bunch of paperwork that is subject to change daily until a contract is negotiated fully? Why scratch through, highlight and mark up illegible faxed copies to the point they look like hieroglyphic nonsense? Here was Docusign, the latest and greatest in real estate mobility and technology, available even as an app on iPhone and ipads and other smart devices. Wow! We were really making progress from the days of old, when I had to drive into my office to even retrieve voice mails!

Fast forward to today, after a year of Docusign investment, docs and templates saved online and the rest of my team signed up for this amazing service we get this--Notification on Monday that one of my buyers who is getting a conventional loan, needs to come in and give a "wet" signature because conventional lenders are no longer allowing Docusigned contracts. Apparently, there has been fraudulent activity and lenders are trying to double-back and prevent future incidents. Funny thing is, FHA and VA loans are still OK with it and allowing virtual signatures. Now, correct me if I'm wrong, but given recent history, who REALLY needs to be watching out for fraudulent activity on our behalf? Is this yet another example of private industry being ahead of the curve or is this just one more hurdle that buyers have to cross while trying to bolster the economy pretty much on their own?

The other interesting instance that has occurred with Docusign took place on a foreclosure that one of my buyers was purchasing. We submitted the offer via Docusign using virtual signatures, well before this recent notification took place (the good 'ol days) and was informed that we could not use the virtual signatures. I met with my client, received "wet" signatures and resubmitted the offer. Of course, this took several days and by the time the offer was sent to the other agent via scan, the quality was seriously compromised. We did receive the signed offer back from Fannie Mae and guess what? They used Docusign or another form of virtual signatures. I guess the message to take from that is that the government is to be trusted and couldn't be fraudulent...hmmm...feels like a rerun of X files...

Detering Theives...Article in Weekend Paper...

2011-08-01T16:47:00.000-04:00

Maddie, my 11 year old daughter pointed this article out to me over the weekend, she really liked the
"burglar's perspective" of the article. I casually read it and found it very well-written and interesting. Then a good friend and business associate of mine, Harry Davis of CPI Security sent the article out in an email today. I thought that you too might find it helpful and who knows, it could save your life and personal belongings. Stay safe and vigilant!!

http://www2.journalnow.com/lifestyles/home-garden/2011/jul/29/deter-thieves-072911-ar-1249271/

Personal Bank Account

2011-07-10T13:57:00.000-04:00

Great email from our president at Allen Tate...how will you spend yours?

Gift of 86,400

Imagine that you had won the following prize in a contest: Each morning your bank would deposit $86,400.00 in your private account for your use.

However, this prize has rules, just as any game has certain rules.

The first set of rules would be:

Everything that you didn't spend during each day would be taken away from you.

You may not simply transfer money into some other account. You may only spend it.

Each morning upon awakening, the bank opens your account with another $86,400.00 for that day.

The second set of rules:

The bank can end the game without warning; at any time it can say, It’s over, the game is over! It can close the account and you will not receive a new one.

What would you personally do?

You would buy anything and everything you wanted right? Not only for yourself, but for all people you love, right? Even for people you don't know, because you couldn’t possibly spend it all on yourself, right? You would try to spend every cent, and use it all, right?

ACTUALLY This GAME is REALITY!

Each of us is in possession of such a magical bank. We just can't seem to see it.

The MAGICAL BANK is TIME!

Each morning we awaken to receive 86,400 seconds as a gift of life, and when we go to sleep at night, any remaining time is NOT credited to us.

What we haven't lived up that day is forever lost. Yesterday is forever gone.

Each morning the account is refilled, but the bank can dissolve your account at any time....WITHOUT WARNING.

SO, what will YOU do with your 86,400 seconds?

Those seconds are worth so much more than the same amount in dollars.

Think about that, and always think of this:

Enjoy every second of your life, because time races by so much quicker than you think.

So take care of yourself, be Happy, Love Deeply and enjoy life!

Here's wishing you a wonderful and beautiful day.

Start spending.

Till next time!

“Challenges are what make life interesting, overcoming them is what makes life meaningful!!!” Joshua J. Marine

Do You Need a Pre-Qualification or a Pre-Approval?

2011-07-08T13:54:00.000-04:00

Chris Cope, President of Allen Tate Mortgage, posted a great piece this morning on pre-qualification vs. pre-approval letters. These may seem like one and the same for most folks, but with the rising number of contract fall throughs, this is information that we can ALL use!

Pre-Approval vs. Pre-Qualification--Chris Cope--Allen Tate Mortgage

How Free Are We?

2011-06-13T14:36:00.000-04:00

Always interesting to me is how free we perceive ourselves to be when we are inundated with information everyday leading us to believe that we live in either the most free spot in the world or one where our freedoms are being whittled away each day. Check out this website and let me know your thoughts...How Free Are We?

Freedom of the 50 States-Mercatus

Public v. Private and Need v. Necessity

2011-05-04T16:13:00.001-04:00

On a recent trip to St. Pete Beach Florida I noticed an interesting phenomenon, the use of privately-owned "smart cars" as modes of FREE transportation to and from restaurants, beaches and watering holes. Jake and I have been visiting the St. Pete Beach area going on 15 years now and the normal mode of transportation outside of your private or rental car has been the standard taxicab. The taxi was certainly an option but it entailed waiting for unspecified amounts of time, astronomical tabs for short distances and less than stellar interior ride conditions. As years progressed and need demanded, the city saw a niche that it could fill while adding to the "small beach town" ambiance and thus the trolley was introduced. Novel at first to ride a vintage-looking trolley up and down the 5-7 mile strip for less than a dollar each way, the trolley soon wears on your patience. It is nothing to wait 15-30 minutes for a trolley to get to a stop and then the attendants are less than helpful recommending things to see or where you need to get off for a particular venue. For example, one foggy night, we told the trolley conductor that we were headed to Corey Avenue, which is an on-the-water crossroads for restaurants and live music. Did he stop, did he ask, did he indicate that we were close by,even though we were the only ones on the trolley? Nope. Just kept gettin' it down Gulf Boulevard. As I stated, it was unusually foggy and we had a 3 year old to distract us, so we ended up just outside of Treasure Island, some 3 miles from where we wanted to be and the trolley had no plans on coming back to the St. Pete side that evening. Well, let's just say at that point, thank God we had cash and thank God for cabs!

Well, fast-forward to my last few trips this past year and the advent of the entrepreneur has arrived on the Gulf! Little, open-air "smart cars" adorned with advertising, zipping up and down the road and best of all they are FREE!! Restaurants and bars call them, they arrive on time and guess what? They really are FREE, taking tips only, but making the majority of their money off of the advertising. The drivers are great tour guides and remember to pick you back up at specified times from specified places because guess what? They work for tips and their service has a direct impact on their take home each night. So once again, the private sector proves that they do it best and most effectively and at less burden to the tax payer. This service has even upgraded to "green" vans for larger groups.

Looking at the virtually empty trolley crawling lazily up and down the strip may have been nostalgic but one's thing for sure, I for one, am glad it was replaced with something that is effective, efficient, clean and entertaining. A great example of how American ingenuity can take and discern the demands and expectations between a need v. a necessity and capitalize on it...What do you think the next BIG need is, that private business would be better at serving as opposed to public/taxpayer funding?

As Rents Rise Will Housing Prices Start to Recover?

2011-04-15T14:49:00.001-04:00

It's as simple as supply v. demand. Currently, the local rental market is booming with tens of calls a day coming into our office as renters are on the prowl for suitable temporary housing. With the advent of foreclosures, short sales and job loss many folks who previously owned are looking for rental property in order to secure a roof over their heads while waiting for credit to rebound. These are a new breed of renters, used to the luxury and quality of life afforded by home ownership. In our market, which is historically made up of rental homes under $1000 per month, there are not homes suitable for the finicky tenant looking for a place to establish their family after a tumultuous couple of financially challenging years. These renters want cleanliness, quality, space and established neighborhoods that FEEL like home and unfortunately these are few and far between.

The upside is that as prices continue to settle, we are finding more homeowners opting not to sell before moving to that next job or home. This may in fact give rise to a larger availability of properties to choose from and allow high-end renters choices beyond the edges of college campus'.

As rents rise it has been predicted that housing price declines will slow and help to up-end the market.
www.calculatedriskblog.com/2011/04/forecast-rising-rents-to-slow-house.html

So as long as this cycle works itself out it may be in fact a good thing for real estate. On the other hand, if continued intervention and regulation from outside financial and governmental entities occurs, we may not experience the possibility of current homeowners opting to rent rather than sell due to fear of not being able to purchase without selling.

Much remains to be seen but the notion that you can hold on to your current home, allow the market pricing to adjust upwards AND purchase your NEXT home while rates are low, mortgage programs available and inventory is great is something that could help to shore up our shaky real estate foundation.

Demand Atlas Shrugged Movie Here in NC!!

2011-04-05T20:59:00.001-04:00

You guys have read my blog on Atlas Shrugged several months ago and know how much Jake and I love the book and Ayn Rand...now the movie is out and due to the message, (which of course is adverse to everything promoted today in mainstream media), the movie is not being shown in many theatres nationwide. The website and facebook fan page have places where you can "demand" the movie in your locale but anti-Atlas Shrugged folks have hacked into the system to prevent gathering this info. Kinks are being worked out, but check out the trailer and find a way to promote and tell others to "demand" this movie be made available locally!!

http://www.atlasshruggedpart1.com/atlas-shrugged-movie-trailer

If this movie trailer doesn't get you excited, I don't know what will! Read the book!!

It's Been A Long Long Time...I Don't Think We're In Kansas Anymore...

2011-04-04T14:03:00.001-04:00

Certainly nothing is more frustrating than trying to find a blogger who posts regularly. Someone you can count on for accurate, up-to-date information. That someone was me, until recently! We have been swamped--not only new listings, buyers, marketing and other real estate related activities, but just life in general--family, soccer, school plays, chorus practice, church--you guys know the drill! Heck, I bet you've been so busy that you haven't even noticed that I hadn't posted in two weeks! Definitely a long time for me! So let me share with you my latest-non-real estate related story!

Stuck in Florida

I headed out to Florida last Sunday to catch up with my college roommate for her 35th birthday. We decided due to several factors (one being cost) that we would stay with my aunt in St. Pete Beach. We have both visited the area, which is steps away from the powdered-sugar shores of the Gulf and knew that this time of year was beautiful--low humidity, mid 80 degree days and inexpensive flights. Rough ride on the way down as we bumped and rolled through a front in southern Georgia, but we made it in one piece. First day was gorgeous as expected, but days 2, 3 and 4 were cloudy with major thunder and windstorms thrown in to boot! We would rush to put on sunscreen or run to get in from extreme lightning--one day it was so windy our nachos blew off of the plate! Nevertheless, we visited and made the best of our time together!

Fast forward to Thursday-time to leave. My aunt chauffers us to our respected airports, mine St.Pete/Clearwater and my friend's, Tampa. This is approximately 9 am. Around 10 am, my friend and I are texting back and forth about the major storm brewing. Rain blowing sideways, tornado watches, hail, windgusts up to 70 mph and the like. Lightning like we rarely see in NC cracked the sky wide open, followed by thunder that lasted for 10 plus seconds and shook the building around you...Then the airplane in front of my window begins to move up and down. The plane looked like something out of a Snoop Dogg video, as if it had hydrolics. Now we aren't talking a small plane, we're talking a 737 anchored to the ground. At one point, though I was only sitting 50 feet away, you couldn't see the plane's nose for the rain and wind. So, still texting in a panic and CRACK, lightning and suddenly no power! The Pinellas County Sherriff's department along with homeland security comes in and assures all of us waiting to board, that in oh, 30 minutes max that the power will be on shortly, as the generator gets up and running. Just then an odd, empty sucking sound and the doors from the terminal to the tarmac are forced opened--later it was determined that this was the pressure change (900mb-think hurricane pressure) as the tornado touched down four times around the airport and the immediate area--tossing small planes and destroying hangars. My friend is frantically texting me that she is in the bathroom in Tampa because the tornado was spotted skipping its way across the bay!

The power doesn't return in 30 minutues or 3 hours...at 4 o'clock, still no power and the airport authority announced that flights were being cancelled. The airport was great for providing free water and drinks but still no food and many people had been there since early morning. Now mind you during this time no one left the interior terminal because there was no way for homeland security to screen you coming back in. So hundreds of us are inside this 80 degree building, no way to get food (registers and service areas down) and no internet. My cell phone battery was waning with no way to charge it, so I made the decision to call my aunt to pick me back up. As I am waiting, more huge waves of this storm batter the airport and the workers trying to restore power-apparently, lightning hit the generator. Also, while waiting, no one is sure if flights will be resumed that evening since poor weather was being called for through the evening. All in all, the Tampa area recieved approximately 3-4 inches of rain during each of these storms over a 5 day period. The damage was described by some locals as worse than what is gotten during hurricanes.

Allegiant rescheduled my flight at no charge later that evening for the upcoming Sunday-a full three days later. Though it put me behind at work and I had never been away from Jake and Maddie that long, the next two days were what Florida weather should be. Skies with no clouds to be found, rustling palms overhead, 70 degree weather when you wake up and handcrafted sunsets!! I thanked God for allowing me safe returns and for knowing that I could use a few extra days to relax.

I am back, refreshed and re-energized and ready to take on the real estate market! The roomie did make it back safely as well, but only after spending almost a full 24 hours either on stand-by, on a tarmac, changing terminals, on a cancelled or delayed flight or driving. Unbelieveable, but an adventure that we won't forget for a long time!

Conventional Wisdom--FHA vs. Conventional

2011-03-21T13:19:00.000-04:00

In recent history, buyers with little down payment and high credit scores still leaned towards FHA loans for their good rates and low down payment requirements. Currently for as little as 3.5% down, which can still be a gift, a decent FHA loan can be obtained.

In mid-April, FHA will adjust their up front funding fee which may in fact turn the tables for buyers looking for those low down payment loans. It looks like now using conventional financing can save buyers substantial amounts of money at the onset and years down the road.

With new conventional programs, there is no upfront premium, unlike FHA which requires 1% upfront either added to the closing costs or financed into the loan.

On these conventional products there will be lower monthly private mortgage insurance costs than with FHA which means realized savings month over month and year over year.

On some of the conventional products you can get in with as little as 3% down as opposed to FHA's required 3.5%.

If the buyer has the ability to put a little more down with some of these products and can bring a down payment of 5% as opposed to FHA's required 3.5% then in 3 years the buyer can save approximately--

$2116 in monthly mortgage payments
$4005 in mortgage insurance
and will have $5632 more in equity.

When the FHA pricing changes in April, these numbers above will adjust to
$3885 in monthly mortgage savings
$5774 in mortgage insurance costs and this is in just the first three years! Not something to sneeze at!

For more information and details please give me a call or email me so that our team can put you in touch with a mortgage professional who can assess your situation and determine which loan is right for you!

Brooke

REDUCTION ON ONE LEVEL-SPLIT BEDROOM PLAN IN KERNERSVILLE!

2011-03-08T10:53:00.000-05:00

Recently Reduced in Kernersville! Like a Model Home!

5748 Bromley Drive $225,000--CLICK HERE FOR INFO AND PICS!www.allentate.com/brookecashion/594946

A Charity That We Love Continues to Make a Difference!

2011-03-03T10:20:00.000-05:00

Arts for Life, which is a charity that we support here on our team and personally continues to bring the arts to sick children at Brenner's and other children's hospitals around the state. If you are interested in contributing or knowing how you can help, please contact me and I can give you the info.

Enjoy the article! Brooke

Arts For Life Brings Music to Patients

New Restaurant Coming to Kernersville!

2011-02-28T12:33:00.000-05:00

For a community that treats its restaurants and businesses so well, I have always found it strange that we have so few really good, independent, sit-down restaurants in Kernersville. That is about to change! Some of our local favorites such as Smitty's and Fitz's are niche' restaurants, serving seafood and short order but for a family that likes to dine out, we will not be missing any visits to these "stand-bys".

The new restaurant, which I have very limited information about, will be located on Old Winston Road beside of Kernersville Pharmacy. According to the sign in front of the building, the name will be J. Pepper's. I have heard rumblings that it will be high-end Southern cuisine, but have no verification on this speculation. I do know that there will be an outdoor patio area for drinks and dining that should seat between 50-60 patrons. The Cashion family certainly welcomes J. Pepper's and I am sure that our friends and neighbors do as well!

Another update on Blend and Brew, formerly known as Espresso Doctors. The temporary unit in the parking lot of Planet Fitness was given a stay by the town of Kernersville until a new location could be found. Word on the street is that the current owner has found a suitable location on South Main Street and Century Park just across from Don Juan's Mexican. Ground has been broken and they hope to have the new locale up and running by end of March-mid-April according to an employee. Blend and Brew will remain a drive-thru coffee experience and hopes to expand their clientele by having more exposure on South Main.

If you have any additional information you would like to share on either of these businesses or know of some other exciting news as it relates to eats and drinks in and around town...share it on the post!

Survey: Sales of Distressed Homes increased in January

2011-02-22T10:35:00.001-05:00

Interesting piece in CalculatedRISK today(see link below)...however, in our local market we have not seen the huge influx of distressed property as predicted. Certainly, more homes than in years past that are foreclosing and even fewer being accepted for short sale. This phenomenon highlights the incorrect public perception that banks would rather settle in a short sale situation than foreclosing.

As agents, were are finding that banks are opting for the foreclosure rather than negotiate short sale options. Usually, with outstanding second loans being left in the lurch with little to no money coming their way, the foreclosure process swiftly deals with these outstanding second and third liens and clears the title for the bank to place the home back on the market; in many cases for less than the short sale offers. I have personally seen two instances in the past six months where this has occurred.

As for additional homes coming on the market in this "shadow" inventory...it's hard to say if folks are hanging on through the end of their savings, if they are actually finding gainful employment to continue making payments or if the former stigma of foreclosure has softened and folks will let their homes go back to the bank without batting an eye. Only time will tell...

Survey: Sales of Distressed Homes increased in January

Obtaining a Mortgage...Is It Just Too Much Work?

2011-02-13T12:01:00.000-05:00

According to a survey recently published and reported on by the Wall Street Journal (link at bottom of post), obtaining a mortgage is considered the most difficult part of purchasing a home.

As someone who works day in and out with lenders, buyers and sellers trying to navigate the home-buying process, I can certainly vouch for that sentiment. Not only do home buyers have to dredge up tons of paperwork that they may have never laid hands on (tax returns, paper pay stubs, divorce or separation agreements, child support documentation, etc.) but they are also asked to find other obscure items or conduct tests on the home being purchased at the last minute. This would seem to be an issue for the individual mortgage brokers to know what items are needed for a particular loan or buyer, but with guidelines changing and new regulations being handed down from Fannie and Freddie on sometimes a WEEKLY basis, the gauntlet to obtain financing may seem downright impossible.

For example, the basic requirements to submit for a loan are certainly ones that you can see as necessary in order to verify income, employment, assets, and the like. There should not be any issue with a buyer being able to produce their last two year tax returns or bank statements. However, some buyers, since this is not an everyday process, are confused as to where these documents are found and with the advent of online banking and tax filing, paper copies are becoming less the norm. This is a great example of how critical it is to have an experienced local lender with a trusted company to guide you through the process. Even the best of these folks are going to be blind-sided every now and then by something like a road maintenance agreement that was never recorded or a separation paper that was never filed or notarized, but these folks keep their cool, keep everyone informed and keep the loan trucking to a successful close.

Lending is changing everyday and it is up to an experienced team of lenders and agents who are up to date on the climate of the market to guide buyers through the challenges. Please call Brooke Cashion and Associates for a list of lenders that we recommend because they are market relevant, professional and can close the transaction. Remember..."When Details Matter....Experience Counts!"

http://blogs.wsj.com/developments/2011/02/08/survey-mortgage-process-has-become-too-confusing/

New Advertising Campaign for Spring 2011!

2011-02-12T13:41:00.000-05:00

Everything is pretty cyclical and it goes to show that most ideas are recycled...that being said, I myself, am going back to advertising that treated my business pretty well 10 years ago--a billboard!

For my clients the billboard will continue to drive traffic to the website where their homes are featured with virtual tours, school and community information, 21 photo tours, room measurements, mortgage calculators and so much more! As a result of Allen Tate's great web inquiry follow-up this will result in more buyer to be helped by our team and more folks obtaining information about our team's listings! Currently, we have over 2000 hits per month and just since the board has been up (less than one week) this number is up approximately 100 more hits a day!

For the public the billboard will serve as a reminder that Brooke Cashion and Associates is here to serve and can and will sell your home by using expertise, current and relevant market knowledge, professionalism and good 'ol fashioned hard work! As a top Triad producer for over 10 years, it's proven that we can get the job done!

Wanna take a look? Check it out on Business 40E, on your left just before the Hwy 158 Walkertown/Reidsville exit. Have a great weekend and enjoy the sunshine!

Revisions to 90 Flip-Give and TAKE!!

2011-02-02T13:07:00.002-05:00

As our mortgage broker at our office said, what the government giveth, the banks taketh away.

Apparently, someone at the bank didn't think that the 90 flip rule should be shared with regular Joe homeowner, only the banks should be allowed to move their inventory. Hence, we end up today with joint decision-making between some of the big banks like Wells Fargo, B of A, Chase, etc.) who determined that this will no longer pertain to individual sellers. And of course, these cats hold the purse strings because as FHA lenders, they determine who gets a loan and what those terms will be!

*Exemption was extended through 12-31-11. However, the investor decision is that this does not pertain to individuals who have purchased and are reselling a home within 90 days. This DOES include HUD REO's, Sales by Federal Agencies or federally chartered institutions and GSE's and approved non-profits.

*There are still overlays to the above approved purchases which usually means that these banks/investors will not purchase a property that has increased in value more than 20% or acquired within the last 90 days.

*In addition, if a property is being turned over between 91 and 180 days and the sales price is
100% or more over the price paid by the seller, a 2nd appraisal is required but at no additional charge to the borrower.

This all says to me, the layman, that once again, what is good for the government is not for us to use. Saving all the good stuff for themselves and leaving taxpayers to hold the bag! Sorry, but keep in mind, some of these distressed properties are still a great deal and deserve a once over!

Brooke

90 Day Flip Rule Takes a Vacation...

2011-01-31T13:37:00.003-05:00

Recently the feds overturned the 90 day flip rule that requires sellers to "hold" onto a property for 90 days after the initial seller purchase regardless of whether they can sell the property in a shorter time period.

This move was pushed by the need to get the existing inventory of foreclosures reduced, therefore allowing potential investors to buy properties, do needed improvements and immediately put the property back on the market to sell. Over the past several years, this has not been possible, causing investors to hold back purchasing investment property because hanging onto the properties for 90+ days was just not financially reasonable.

Another consequence the 90 day rule was the impact of contractors losing work as a result of investors not needing projects on distressed properties. These jobs are part of the fuel for a healthy real estate economy.

There may be a glut of homes on the market but the majority need updates or minor repairs, something an investor can certainly handle with cash on hand. Unfortunately, the 90 day rule halted these small improvements in their tracks. Small projects can take less than a week and investors used to be able to get the home back on the market and sold quickly. Repairs and updates such as carpet, paint and minor cosmetics can help a property sell and keeps the buyers from having to come out of pocket with hard-to-get cash since down payment requirements are now larger and there are limitations on seller contributions. The ability for a seller to make these improvements on a recent purchase also helps to steady declining housing values.

All in all, the break will hopefully encourage investment, put contractors back on the job and remove the glut of foreclosures and distressed homes on the market.

Read the waiver from HUD
http://www.hud.gov/offices/hsg/sfh/currentwaiver.pdf

Want to get in on the action? Give me a call 336-817-3598 or shoot an email to me at brooke.cashion@allentate.com. There are some great opportunities out there and we look forward to assisting you in your real estate needs!

Brooke

Why Twitter?

2011-01-26T10:57:00.004-05:00

Was that an appropriate tweet? Huh? Why tweet? Why blog for that matter? Why use social media at all and if you do, how do you make it work for you? Will anyone read what you post? Recently Constant Contact, the provider of my e-newsletter came out with a nice brochure on the benefits and recommendations for various modes of social media. Here's what they have to say about Twitter, which is probably one of the more mysterious ones to me.

*Tweets are good for quick message and links to photos, articles and other short online content

*You can monitor other "dashboards" that allow you to monitor sites of interest and other social media feeds so that you don't have to keep track of thousands of friends, fans and followers.

*Experts recommend not tweeting more than 5-6 times per day

*Use a scheduling tool to send out tweets on holidays and weekends so that you can take a break from regular tweeting

*Using # tags (hashtags) in front of words that others might search for or reference

*Keep track of handles (people's twitter names with @ signs) you mention you or retweet your content. They can influence their networks.

*Use it to publicize "deals" or mass purchasing coupons like you find on Groupons or Buy Local.

Constant Contact recommends tools that you can use with Twitter such as NutShellMail, HootSuite, your blog, email newsletters and Facebook

Here at Brooke Cashion and Associates we are working to integrate these technologies so that you can access our information from your favorite and most convenient form of social media. Have suggestions on how we can better your experience? Post your comments here! Have a great day!

Brooke

Check Those Receipts! Those Mistakes Add Up!

2011-01-21T10:59:00.002-05:00

A quick post today but important nonetheless...

Last Monday while on our way back from Raleigh, Jake, Maddie and I stopped by a couple of stores in order to allow Maddie to spend some of her Christmas cash on some items she had her eyes on.

First stop, a local sporting goods store where she was looking for a new water bottle to carry to school. As we cruised the endless supply of bottles, she finally laid hands on a great metal bottle that changed colors with varying temperatures (think Hypercolor). After waiting an inordinately long period of time in line, we finally reached the register. Maddie took out her "wad" of cash and began peeling off the 23 bills, all the while figuring in tax on the bottle that had a tag for $19.99. I was a proud mama! Keep in mind the line was still quite long and people were becoming impatient with waiting and Maddie was also feeling the pressure. The cashier informed us that $23.00 wasn't going to cut it and the total was $24 and some odd change...seemed a bit much on a $20 bottle but she whipped out two more ones, collected her change and moved on.

I gave her a thumbs up on the way out and reminded her that no matter how long the line is, count back your change and make sure you have the correct amount. Once in the car and back on I40, Maddie pipes up that she's been robbed. I am thinking that the purse of cash is now gone, but no, Maddie was charged two dollars more for her bottle than what was on the label attached. I informed her we would go back and make it right which was why it was important to take our time when at the register. Great learning lesson-right!

Fast forward to the early evening, when on the way home from Davie county, picking up the dog, we stopped at a grocery to buy plates for Maddie's chorus party the next day. Lesson learned mom or not! I bought the plates which were on sale for $2.77 with your rewards card (which I had and presented), when I hit the road I realized that I was charged $3 and some change for each pack.

Two times in one day! We'd been robbed! Seriously, just a reminder that it's easy to get caught up in tight time schedules and rushed errands, but in the course of one day our family lost at least two if not three dollars--easily a cup of coffee! In this day and time of computers, scanning and all sorts of other technology it is easy to think that because human error has been mitigated to a certain extent we can let down our guard on monitoring our charges! Not so! Now I know why my parents are so adamant about saving every receipt and still balancing their checkbook and credit card statements the old fashioned way--by paper! Maybe next time I'll learn my lesson!

Industry Update January 14, 2011

2011-01-14T08:43:00.002-05:00

Real Estate

What you should know about property taxes
if you own rental property?

http://www.foxbusiness.com/personal-finance/2011/01/13/rental-property-taxes-landlords-need-know/

Insurance
Don't let cheap insurance prices short you from protection...

http://www.foxbusiness.com/personal-finance/2011/01/06/ways-cheap-insurance-prices-bamboozle/

Mortgage
Are rates going up, down or all around?

http://www.huffingtonpost.com/2011/01/13/rebounding-mortgage-rates_n_808186.html

Industry Update January 12, 2010

2011-01-12T19:31:00.003-05:00

In addition to my personal real estate and social blog posts, I am going to start including industry updates from various, reliable sources for your enjoyment and convenience. Enjoy and please sign up to receive regular updates through your email and don't forget to share my blog with friends, family and co-workers! And as always, I love to hear your feedback and comments!

Real Estate

Home Buying and Selling Predictions for 2011
http://www.inman.com/buyers-sellers/columnists/tara-nicholle-nelson/top-homebuying-selling-predictions-2011

Insurance

Can you get insurance if you rent your home?
http://www.iii.org/articles/can-i-get-insurance-if-i-rent-my-home.html

Mortgage

Additional incentives for banks to approve short sales
http://www.inman.com/news/2011/01/10/short-sale-incentives-revamped-again

Bats In Your Belfry?

2011-01-10T09:51:00.003-05:00

Occasionally in my field we will obtain an inspection report that shows evidence of some sort of "guest" living in the attic. Sometimes, it's a bird that has nested in the exterior overhang, a bat that has decided that just inside the ridge vent is the place to raise a family, or most often that not it's some sort of mouse-like creature that has taken up residence out of the elements. I have seen "extremes" such as squirrels that had chewed through, yes through, Sheetrock in the ceiling of a media room of a foreclosed home and have heard of raccoons having their young inside of the walls of a home.

Nothing unusual about our animal friends wanting to take up residence in a warm, safe environment, but when it's your home, it's difficult to be hospitable to additional visitors.

In the case of most small rodents, the dangers of having them present in your home can range from unsanitary conditions due to their "droppings" to the more damaging, such as actual deterioration of wood, Sheetrock, insulation and other personal items that you may be storing. If bats have nested, it can be more serious, as their guano or "poop" is toxic and must be removed by a professional. Not to mention bats are considered "protected" and elimination of the bat is not an option, but removal is. Once the bat is removed, it is critical to find the point of entry and seal it with wire or something similar to prevent further problems. As stated above, the larger animals typically do more damage, such as squirrels or raccoons, but the sheer annoyance of these critters as they move about in your walls and above your head is enough to drive anyone, "through the roof". Certainly, owners should be cautious when trying to deal with wild animals in their home, as rabies and other diseases can be transferred to humans if contact is made.

Now that I have you on edge about every little creak and scrape that you hear at night, keep in mind there are ways to prevent and/or remove your new found furry friends. Certainly, keeping an eye on overhanging tree branches, which provide a nice, convenient walkway for your pals is a place to start. Beyond that close up any entry points at vents, roof overhangs, etc. with wire, wood or a netting and keep gutters clean because sometimes small rodents like mice, squirrels or voles like to set up shop in these areas and can make quite a racket.

If the problem persists, call a pest control company that specializes in animal removal and prevention. This may cost a little bit out of your pocket but definitely less expensive than nights spent awake wondering if the little party animals are going to join you later for a nightcap.

Need names of folks who do remove animals or want to share a story about animal guests in a home?...Don't forget to share because I love your posts! You can also share with friends and family and keep in mind you can sign up to receive all new posts by subscribing to the blog at the top of the page~

Enjoy the snow and stay safe!

Brooke

Is FSBO right for you?

2011-01-04T12:49:00.002-05:00

ITEMS TO CONSIDER WHEN SELLING YOUR HOME

*MAKE SURE YOUR HOME IS PRICED RIGHT- Pricing is the biggest mistake homeowners make when selling their homes. Over or under pricing can cost thousands of dollars, not only off the price but in months of paid mortgages, insurance, taxes, etc. Make sure that you know what homes LIKE yours in your area have SOLD for in the past year.

*CONSIDER YOUR FAMILY'S SAFETY- FSBO's are targets for folks who are criminally motivated to view your home with one of your family members. These folks have been known to take keys to make copies of, break-in when you are at work or school and harm family members who show the house. Agents are trained to pre-qualify buyers and use specific methods to reduce risks in your home, please do the same.

*SHOWING YOUR HOME- Serious buyers take very few days to look at homes, especially when a decision is needed as a result of relocation. Most buyers have been looking with their agent on websites and have identified homes they want to see when they come to town…how will they make an appointment to see yours? Make sure someone can show your home during the day, when most buyers are looking.

*ADVERTISING- Make sure your advertising includes numbers that you can be reached at and that they are visible on your sign (consider preprinted stickers).

*NEGOTIATING- Have a plan for negotiations, be prepared for a buyer to ask for closing cost assistance or other concessions. Be prepared to back up your reasoning for pricing your home as you have.

*ASSISTANCE- Be wary of companies that offer to help you market your home for sale by owner for reduced fees. Remember they are charging you up front for very limited services and little detail work. You have to pay them whether you sell or not! Agents do not charge you until you CLOSE and often times save you money by eliminating time on the market.

**These are just a few items to consider while selling your home, please contact us if you would like additional information on these topics or if we can be of service to you in any other way**

"When details matter, experience counts!"

Not Ready to Let Go of Christmas 2010

2010-12-29T11:35:00.003-05:00

For the past month, I have loved waking up to the mingled smell of coffee in the pot and fresh cut evergreen as it decorated our home. Jake would have the tree lit each morning before I woke and it was an inspiring sight. I will have to say, that this year, as far as decorations were concerned, I went a little overboard.

As a result of our home being on the market for the past few months, being under contract for two and then not closing, I decided that "Grinch be damned", I was DECORATING for Christmas, in addition to moving our stuff back in. I say that because normally, other than our tree and a few "homemade" items given to us by our daughter, we usually keep it simple. Not this year-not me.

I hired a very talented friend and former client of mine to decorate my banister, mantle, mailbox and to spruce up my tree and a large wreath. This was no simple undertaking. After giving her my Southern Living Christmas edition (hardback of course), I envisioned pineapples, pears, citrus fruits, magnolia, boxwood, holly and a variety of other fresh decor to grace my home to show that nothing would get me out of the spirit. Hours of toll led to an end product that was marvelous, simply stunning.

Fast forward almost 40 days later and let me just say, I was ready to move on. I took down most of the decor, but this year, unlike others...our tree still stands. It's fresh smell has left, but the lights still twinkle magically each morning as I enjoy my coffee in front of the fire. When will we take it down? Who knows, but this year, I want the beauty and serenity of this Christmas to linger. The Christmas message, the snow and the family and friends contributed to a relaxation over Christmas that was different than Christmases of the past and our tree symbolizes that for me...Jake is going to have a difficult time prying that last thing out of my grasp...funny thing is, I think he doesn't want to see it go either.

Christmas-A-Plenty Around Town...

2010-12-07T15:45:00.003-05:00

The holiday season is certainly a magical time of year. Shorter days, brisk, star-filled nights and the tinkling of bells can be heard on most any sidewalk. Then there are the traditional holiday events such as local parades, caroling, church nativities, shopping, ski-trips and the like. If you just want to stay around the Triad this season, here are a few suggestions to make your season as bright as possible.

*Festival of Lights @ Tanglewood--a seasonal favorite which meanders through a park of magical light displays. The best part is they change it up a little each year, so every holiday, it's a new treat!

*Walk Through Bethlehem--Kernersville 7th Day Adventist Church--only on weekends through the 11th of December, this is a must-see. Journey through Bethlehem during the time of Christ's birth, experience the sights and smells of the holy land during this interactive tour.

*City Sidewalks and Nightscapes--as a kid, our Christmas Eve treat after leaving my nanny's was to drive through downtown Winston-Salem and look at the lights...now several towns have beautiful downtown displays...my favorite? Downtown Kernersville with it's twinkling tree lights and lit figurines make for a simple, yet intriguing holiday drive.

*Tree lots--maybe a fresh tree isn't your thing, but pick a cold Winter evening to stroll the tree lot and take in the sweet excitement of families choosing their own tree, grab a cup of cocoa to stay warm!

*The Nutcracker--produced by students at The NC School of the Arts, this is a long-standing holiday tradition for many families. The pageantry of the costuming, the incredible music and the grand feel of the Stevens Center can be the icing on the cake as far as holiday treats!

*Restaurant Hopping--with so many great ones to choose from, pick a town and grab an appetizer at one, maybe another appetizer at another, an entree at yet a different venue and top off the evening with dessert at your final stop. Why? Because so many of our restaurants have holiday specials that can't be missed and the days of Christmas are certainly limited!

Just a few suggestions... I look forward to you adding some of your suggestions for holiday fun! If you live in a town outside of the Triad, please add yours too, you never know who might be coming to your town to see if you've been naughty or nice!

Merry Christmas!
Brooke

Tax Time and Closings--Deal Breaker? It doesn't have to be...

2010-12-03T13:40:00.002-05:00

You may have received your tax bill in late August or early September, but if you escrow your taxes and insurances, then you probably just received a copy of the bill being sent to your mortgage servicing company.

Though the bills are sent out 3rd quarter our mortgage companies usually hold on to these bills and don't pay them until November or December. The deadline for payment is December 31.

As a result, the question often comes up during closings that occur during October, November and December, why am I paying taxes again on the settlement statement? This amount for many sellers can potentially break a deal, as they forget during the fourth quarter, if the payment from said mortgage company has not arrived and been recorded at the tax office, they are responsible for the bulk of the year and if you live within the city limits it can be thousands of additional dollars.

Now, don't get too panicked. Sometimes, especially in November and December, the mortgage companies have already paid the bill and it takes a friendly phone call to the tax office to get verification of payment. You can handle this confirmation but the final confirmation at closing will have to performed by the attorney or paralegal. Remember, the reason for this, is that there can be no outstanding liens against the home at closing.

If you do have to bring your portion of the year's taxes at closing because they have not been paid yet, you will be reimbursed, but it could take weeks to do so. Once again, if you planned on bringing little to no money to closing because your deal is a "break-even" so to speak, this could really put a wrench in things if you don't have the liquid cash on hand at closing time.

My advice is that if you are currently under contract or think that you may be going under contract soon, have your agent to help you verify the status of your tax bill for the current year. Sometimes, banks will work with you if enough time is given and allow you to use the portion of your escrow that they are holding for taxes to pay the tax bill. Keep in mind this is rare, but I have been made aware of exceptions that have occurred.

Once again, it's a matter of being proactive and having a great agent to help you with these challenges along the way.

"When details matter, experience counts!" Call or post today if you have questions or suggestions regarding this topic. Have a great weekend!

Brooke Cashion

It Can Happen to Anyone...

2010-11-16T12:34:00.002-05:00

Selling your home can certainly be a lesson in patience. We found this out the hard way this past week...

As a seasoned professional I have always worked to dot "i"s and cross "t"s and to look for and mitigate any red flags that come my way and may prevent my clients from closing on time. Of course I would do the same for myself. My "fallthrough" rate is extremely low compared to the average...usually only one to two each year.

After only a couple of months on the market and lots of daily, last-minute cleanings and showings, we had a couple of offers. The offer that we accepted seemed solid, dates were in place, their home was on the market but going under contract within the next few days and the buyers seemed to love the home. Inspections were immediately ordered since that is typically where you get most of your issues, the appraisal followed close behind....all was good. During this time, the conversations between us and the buyers were friendly and we exchanged information on measurements, systems and personal property that we would be willing to leave behind.

My husband, the consummate planner, rented two storage units and started the task of boxing and moving items so that the buyers could move some of their items in three days prior to closing. We felt like it would be a nice gesture so that they would not have to rent a storage unit for a 24-48 hour period if we could be out over the weekend.

I was in constant contact with the lender and buyer and all seemed to be moving smoothly until the last week. The friendly banter ended, no returned phone calls regarding curtain rods or pool furniture. You could tell in the tone of the buyers and the lender that something was amiss. Red flag flapped violently in the breeze...there was a storm a-brewing.

Without getting into the nuts and bolts of the lending process, the bottom line is this:

You shouldn't find out three days before your closing that the buyer can't secure a loan! We as agents are seeing this and several of us, personally experiencing this, more and more frequently. Not a proponent of additional regulation, this is certainly an instance where our elected officials could work with the regulators to flip the process on it's head. What would be the harm in a buyer not getting just pre-approved or approved with conditions, but actually approved for a loan, documents submitted, verified and signed off on by underwriters, before they ever set foot in the first house? Then the contingencies would be only based on satisfactory appraisal and final verification of employment. As it stands now, there are too many what-ifs and not enough confirmations.

No one should have their entire life boxed up weeks prior to an anticipated closing. The time and money spent to get to that point is unbelievable. The buyers walk away with several hundred dollars in inspection expenses and certainly don't have a home to move into, but the sellers are left with virtually nothing but "maybe" an earnest money deposit, an upside down home, storage building expenses and a healthy fear to go back on the market.

The upside is this, it has given me a renewed empathy for my sellers and a fire lit under me to work with our representatives to encourage the system of lending to be more proactive on the front side.

Finding buyers in this economy is certainly hard enough without everyone getting to the final hour and returning to square one.

Have you or someone you know gone through this recently? Could anything in your opinion been done to prevent the situation...post below so that we can pass these stories on to Washington!

Foreclosure 101

2010-11-04T13:46:00.002-04:00

Questions and comments swirl in the media, coffee shops and living rooms across America regarding short sales, foreclosures and how they work. You hear of folks living in their homes months, sometimes years after not making a payment. You hear of others who miss one payment and are never able to rebound. So what is the skinny on the foreclosure process?

*Missing one payment does not constitute foreclosure. It can take months or years from the first missed payment for the bank to repossess the home and make the borrower leave.

*According to the NC Commissioner of Banks, over half of foreclosure proceedings that start, actually are foreclosure sales.

*When a buyer misses a payment, the bank starts by sending threatening and ominous letters. These letters include notions of accelerating the loan balance, phone numbers of credit counselors, information for military service, etc.

*Sometime around the 90 day mark, the bank contacts a trustee. This trustee is supposed to make sure that everyone receives proper notice of the pending foreclosure and the proceedings to follow.

*Once notice is given, a date is set to establish a hearing. This usually takes place at the "courthouse"--most of the time in the Clerk of Courts office.

*Proof must be given at the hearing that there is a debt to collect and that all outlets have followed the proper guidelines to get to this point.

*Once the home is foreclosed on actual eviction can occur forcing the borrower to vacate the property. More and more often, borrowers are leaving their homes well before this process occurs.

*Because there are more "strategic defaults" (folks walking away from their homes because continuing to make payments doesn't make financial sense) we are finding more of these foreclosures in better condition than in times past.

*Foreclosed homes that are in good condition are becoming competitive with homes that are owner occupied listings, thus driving prices down and resulting in a vicious cycle of depreciating values.

All Treats...No Tricks! Making Good Real Estate Choices...

2010-10-25T16:57:00.003-04:00

*Purchase a home in an area with limited land availability (supply v. demand premise will help to insulate your value)

*Look for "good bones"-older or newer homes with quality construction, slow-growth wood members, warranties, attention to detail and the like--don't let the "bells and whistles" of new construction or cosmetic restorations deceive you!

*JOBS! Look in areas that are poised for growth, have substantial job centers and are relatively stable as compared to the surrounding areas--check with local chambers of commerce and city/county government officials for this information (I am always happy to have this information available)

*Schools--whether you have children in school may not matter to you now, but it might matter to future buyers. Pay attention to desirable school districts and look at school "report cards"

*Roads--Being close but not on top of major roads and commercial centers is a bonus, especially for commuters, add to that easy access to airports for an added bonus!

*Adjacent Property Owners-How do the neighbors keep up their yard, the exterior of their home, etc. What may seem not so big now may present a bigger challenge down the road when trying to sell. Also, make sure that if vacant land adjoins the property you are looking at, that you understand its current zoning use and that it could change based on governmental land use plans. It's a good idea to visit your local planning department to check things out or ask your agent to assist you.

*Crime-No one wants to live in an area riddled with crime--make sure that not only do you look at published public reports available on the Internet, but it's also a good idea to talk to the local police or Sheriff's department about the nature of the crimes. Sometimes what sounds bad on paper has no bearing on you and the same holds true for some crimes that sound minor being bigger and more intrusive than the report reveals.

Have any tips you'd like to add? Need to talk further about purchasing the home that's right for you? Comment or give me a call 336-817-3598 or email me brooke.cashion@allentate.com

Happy Monday!

The "Real" Social Network

2010-10-19T15:53:00.002-04:00

With so much talk about social media I felt it an appropriate time to blog about the importance of "old school" social networking! Old school in the sense that as I look across my shelves of listings and upcoming closings all of them are connected in some way, shape or form. Some are the result of a relationship established with a landscaper who maintains my vacant listings, some are friends, family members, attorneys, business associates, neighbors, church friends, high school friends and some of them are from reaching out to neighbors at listings and talking to folks at my favorite restaurant.

The point is this...everywhere I go, I am a walking billboard for the industry that I love. I told a client today that I love to solve problems, find solutions and see my transactions from start to finish and beyond. If you spend a minute with me, there is no doubt in your mind as to what I do to bring bread to the table and you will also learn why I do it....my faith, my family and my friends.

Writing a note, sending an email, calling a past client...these are all simple things that can and should be done on a daily basis. Nothing wrong with Facebook, blogging, etc. because they are necessary to the new paradigm and are fun to boot! But there is something to be said for a cup of coffee with a lender partner or a glass of wine with a small business owner to talk about what they are doing to survive.

During tough times it's natural to draw inward, to try our best to insulate ourselves from the reality of it all, but what I have learned during these challenging times, is that if I didn't get "out" and learn about our market, our challenges and our opportunities then my business would shrivel up and die on the vine. So thank you for helping me to keep on keeping on doing what I love to do...selling homes and helping buyers in our community...now that's work that socially nets dividends!

Brooke

Transportation Needs Critical to Job Growth In the Triad

2010-09-29T14:17:00.004-04:00

The Winston-Salem Chamber of Commerce recently held a transportation summit. This event was conducted in order to give a forum to local elected leaders to speak out about transportation concerns affecting citizens and businesses alike.

The turn-out was exceptional with representatives from most area communities. The elected officials had the chance to ask specific questions of the State Transportation Secretary regarding road improvement projects and new traffic mitigation projects in and around Winston that have been on the back burner for quite some time.

Most folks know the headache that heavy traffic can bring, but many don't realize the economic impact that crowded and hard to access roads have on critical logistics for business hubs in our area. These improvements or lack thereof will dictate whether or not our region is looked to when new business look to locate to our area or existing businesses decide whether or not to expand or even remain.

Great news piece prior to the event...recognize anyone?

Small Business Law - Jamie Dupree on wsbradio.com

2010-09-27T16:42:00.000-04:00

Small Business Law - Jamie Dupree on wsbradio.com

Winston-Salem Beltway Update--To Be or Not To Be...

2010-09-07T13:44:00.002-04:00

I spent a fraction of my time this afternoon writing a hardship letter, from an agent perspective, for a client of mine. Per her request, I outlined her needs, her challenges and options as it relates to her current home and the Northern Winston-Salem Beltway corridor. As I was developing my thought process, I realized that even though many of us receive snippets of information via the local news media, that I am sure that there are still some lingering questions as to where this project currently stands and how things look moving forward. I am not attempting to answer any and all questions but simply to provide you with a synopsis for your digestion and to direct you to links and individuals that may get your specific questions answered--or leave you more confused. :)

As of end of August the DOT held public meetings to gain comment and input from affected citizens. This information is being used to provide more detailed information to the property owners and to planning departments in Winston-Salem and Forsyth county. Per the DOT, efforts are being made to improve communication with property owners by moving forward on some of the following items:

1-NCDOT plans on writing each property owner within the protected corridor to inform them of proper procedures to follow when requesting improvements to property in the corridor. Information on corridor policy protection should now be on their website.

2-NCDOT plans on addressing distressed property that has already been purchased, is being rented or is vacant within the corridor. Requests can be submitted via City-County planning or through DOT. All reasonable requests will be supported to maintain the quality of life in affected areas.

3-Review of DOT rental agreements is currently underway, making sure that properties are kept in proper condition and comply with subdivision covenants. Enforcements of these requirements are ongoing.

4-Properties that have previously submitted a hardship letter for advance acquisition which was not approved will be reviewed. New letters will be sent advising of status and to provide contact information if they have additional questions and concerns.

5-The major issue moving forward is simply put, funding.

The website has been updated and can be accessed at www.ncdot.gov/projects/wsnb

All questions concerning Right of Way hardship acquisitions, corridor protection, property improvement or leased properties questions can be directed to Division Right of Way agent Rodney Hatton at 336-760-8737.

If you would like to talk to me about your options, need opinions of current market value or would like to begin looking for new property because of a successful buyout or a pending buyout, please contact me via email brooke.cashion@allentate.com or call me at 336.817.3598

Which comes first? The chicken or the egg?

2010-08-29T19:20:00.004-04:00

Just ran into a frustrating situation this past week on an appraisal where the value came in significantly lower than the contracted purchase price and tax value. Where as I have been preaching for years that tax value has little if anything to do with actual market value, I would hate to think that a seller/owner would pay close to 50k more than the home's "market" value as determined by one individual, in this case the appraiser, who is following a governmental set of guidelines. I say this because I in no way believe that the appraisal was the accurate indicator of the home's value. Real Estate 101 tells us that the value of a home in a given market is determined by the price that the buyer and seller can agree to on a particular day. It takes into account what is on the market during that period of time, the price the competition is available for and the overall thought that the buyer will choose what is best suited for them at the best price.

Well, how things have changed. As we are in the midst of "recovery" and the real estate market is taking a deep breathe as we enter what has been historically a slow period, it is now no longer good enough to bring said buyer and and seller together on price and terms, you now battle an unknown set of rules. Those rules are the ones determined by the lender or quasi-governmental entities such as Fannie Mae and Freddie Mac, as they throw down regulations depending on the loan program that the buyer is using, that will dictate which set of criteria will be used to determine the value of the home.

Buyers and sellers are spending unheard of amounts of time and money to find the "real" value of their home in a historically unique marketplace. As they are trying to discover and negotiate this value, the lack of comparable sales, due to the depressed market is being used as an excuse as to why values are not there. This is happening in markets that are considered to be somewhat "stable". Meaning that nothing has been sold in the past several years because nothing has been on the market, because folks actually LIKE to live there! That usually means high demand and a relatively safe investment. Banks say NOT SO FAST! No comps, no values or they will compare and adjust the subject home with homes of varying age, quality of construction and design...for instance comparing a one level home to a two story with a basement.

The moral of the story is to
1-be aware of these risks as you are searching for homes or trying to sell your home
2-have comparable homes in your back pocket should an appraiser ask for assistance in establishing value
3-use more traditional forms of lending when possible, such as conventional loans with lower LTVs that have fewer governmental strings attached
4-don't buy anything unique (just kidding, but it does present challenges on on Fannie Mae/Freddie Mac backed loans)

Have anymore questions? Don't forget to give me a call or post if you have had or heard of a similar experience.

Arts for Life

2010-08-19T15:34:00.002-04:00

Jake and I sat down the other day at lunch with the director/coordinator for Arts for Life. Based here in Winston-Salem, this organization is active at children's hospitals such as Brenner's and Duke. Not a new concept to have arts as a therapy, as Elizabeth Messick explained, but certainly one that lost luster and has recently come unto its own through hard work and donations by individuals and corporations.

Arts for Life in my simple terms, is a program designed to bring hope, self-confidence and purpose into the everyday hospital lives of critically ill children. From pre-packaged projects, such as mobiles, weaving, sculpting and textile crafts to artists coming in and reading, leading discussions or mentoring, this program injects life and possibility into what can feel like a pretty bleak situation. Elizabeth explained that though we could not actually be with these children one on one due to their compromised immune systems, that the packaged projects and donations to sustain this program would certainly contribute to their overall improvement. She went on to describe how some children are not even able to see their siblings for months on end due to the fragile nature of their condition during treatments. These projects allow them to occupy their time with more than a t.v. or medical treatments, it allows them the ability to nurture their creativity and to see that the completion of a task is a possibility and that positive outcomes DO exist in their world.

Jake and I met with Elizabeth because we wanted to know how we could help and how our daughter could begin developing her own character by serving the community. We are currently discussing the best way to assist this organization and some of the suggestions given to us or that we could come up with were:

*Host a party where participants make jewelry, magnets, etc. and sell them at the Arts for Life showcase.
*Donate money raised from a bake sale or lemonade stand to purchase supplies for packaged projects.
*Take up a love-offering at your church or Sunday school class to be given to Arts for Life.
*Assemble a class, scout troop or neighbors to assemble packages
*Collect donated art supplies for packages
*If you know an artist, ask them if they would donate their time to help

These are just a few of their suggestions and our family is looking forward to finding our place in this fabulous organization. There are so many groups in need currently and so many folks out there asking for funds, but this is one that often gets over-looked and can easily be contributed to with your time and talents, not just your dollars.

If you would like more information please contact Arts for Life in downtown Winston-Salem or shoot me an email or post and I can put you in touch with Elizabeth and her group!

Know of any other cool service projects that are kid-friendly? Post here and let me know!

a lot about nothing

2010-08-05T11:08:00.003-04:00

Rainy mist out of sallow clouds that can't really decide what to do. It's a no yard work, kid at a friend's kinda day...

What to do if anything at all? That was the question that weighed on my mind early Saturday morning as sleep escaped me, as it always seems to do on those mornings that time doesn't bind you to. Of course, no one knows what it is that wakes you on these lazy mornings. A bird whistling to it's mate at 5 am for an early morning rendezvous or a teenager sneaking in during the wee hours of the morning before the sun has a chance to throw a beam their way and expose their misdeeds. Hell, whatever it was, it woke me and started chanting in my brain, WHAT ARE YOU GOING TO DO TODAY!?

I hate that question, as if our very existence hinges on the fact that we always have to be doing, producing, thinking, spending and yet, I fall victim most every time. Not this time I promised myself as Jake rolled over to grab the last couple of zzzz's before he woke to my staring at him full on. That always seems to do the trick, it's like I can use my eyes to pry his open, but it usually doesn't put him in a very good mood. I was careful this morning. I didn't want any of that nonsense to get in my way of having what was going to be a wonderful, relaxing, romantic, Mary Poppins crosses Dirty Dancing kinda day. I mean, I could already envision Jake and I dancing across the countless vineyards in the rain. Seriously, was I delusional? How could I work this to my advantage and NOT do anything, yet NOT waste this precious day with its hourly pockets of freedom from sun up to sun down? Carpe diem!

Well for starters, we both woke up starving. A late night Chick Fil A combo meal just didn't stick to our ribs, so food was on our brains. Rather than just "grabbing a quick bite" I wanted to work this to my advantage and into the master plan and that I did! Jake was so hungry that he agreed to drive 50 miles up Hwy 52 and Hwy 268 to Shelton Vineyards to have lunch at Harvest Grill, which we discovered had recently been featured in Our State. Our stomachs churning the entire way, we pointed the Honda north and between hallucinogenic moments due to lack of food and the hypnotic swack of the windshield wipers, we are certainly lucky to have made it in one piece. When we exited the car just steps away from the restaurant and entered the door, it was clear that we were just in time. We were the first ones there, which was perfect, because my food and beverage would take top priority, which it ultimately did. Jake was served a fresh cup of Starbucks and I enjoyed my first glass of a 2009 Savignon Blanc. We were seated in the patio area and the rain on the roof and the views of the vineyard started me to visualizing the romantic embrace of a slow dance, I thought I even heard Van Morrison in the background...maybe it was just the wine.

Fast forward, lunch was wonderful, the tour was lovely and we determined that the rest of our afternoon would be cemented with window shopping in Mt. Airy. Who was this man and why was he doing all of these things that I wanted to do? He even held my umbrella, parked close to the shops and didn't roll his eyes or stay outside when I wanted to look at boutiques and home furnishing stores. We strolled, we laughed, we took silly pictures and posted them on facebook. We people watched, we talked about the shops and restaurants our town needed and the differences in places and really, we did nothing. We didn't make phone calls or close million-dollar deals, we didn't talk politics or solve budgeting woes and we didn't spend gobs of cash on trinkets that would be hauled off to Goodwill or displayed in next year's yard sale.

After a few hours of hanging out in downtown, we hopped in the car looking like kids who just snuck out to play in mud puddles and found ourselves grinning and relaxed. We pointed the car south this time, popped in the grocery, grabbed two steaks and a bottle of wine, and headed home. Thoroughly satisfied with our day, the rain continued to intermittently hiss and mist and the wind cycled through the trees, we settled in to a couple of movies. Sure, it sounds like we did something. I know your brand of cynicism that wants to accurately define and categorize what something and nothing are. But we did nothing by our definition and I want more nothing and that in itself is saying something.

Forsyth County Numbers for June 2010 Are In...

2010-07-28T15:08:00.001-04:00

Take a peek...

6 Quick Tips to Sell Your Home - Guest Blogger: Jennifer Sammons

2010-07-19T14:55:00.003-04:00

Hi! My name is Jennifer Sammons and I am the Buyer's Agent working for Brooke Cashion & Associates. Based off of my past years of experience in home design and staging, Brooke has asked me to provide you with some quick tips to help sell your home. Here we go...

In today's market, competition is thick and you must take extra steps in making your home stand out from the crowd. How can you do this? Well, it's really easy, it just takes a few minor attitude adjustments and you moving out...just kidding, you do not have to move out! You do have to take the "Home" out of your "House". What I mean to say is, depersonalize your home and turn it into a model house. This house is now on the market and your goal is to sell it...right? Everything must have a place and less is more. Here are a few quick tips to help you stage your home and sell faster for more money.

Less furniture in a room can make a room feel bigger. Even if you think that showing your massive bedroom suite/living room suite with all 5 or 6 pieces clearly shows what the room can hold, think again. You have just eaten up useful floor space for your potential buyer's wants and needs and your room is viewed as small and cramped.

Clean your windows, inside & out. Let the buyers see clearly all of the potential in your home and outdoor living space. Also, change your mini blinds out for 2" faux wood blinds or if you don't want the investment...just take them down completely.

Remove all the knick-knacks and items that you do not use on a daily basis from all countertops (kitchen & baths), bookshelves and furniture. Your collectibles are distracting to the space and your buyers. They can't see past your stuff to visualize their belongings in the house.

Update the fixtures. Thanks to the big box stores, lighting and plumbing fixtures have become more and more affordable. You can replace most fixtures for less than $100 each. Try not to get caught up in the trend colors...remember that is personalizing. Stick with polished chrome or brushed nickel. Currently polished chrome fixtures for lighting and baths are making a major come back. They are classic colors that never go out of style and they are the least expensive. By the way, do not forget to change out switch covers and outlet covers to match or go neutral. NO BRASS! Also, always check your light fixtures for burnt out bulbs...light is good!

Spruce up the entry. Make someone want to enter your home. You remember "don't judge a book by it's cover" well, that's what people are doing when they drive by your house. They are assuming that a rundown porch or entry could only indicate a neglected interior. A new rug, fresh paint on the door, new (black) shutters, new (black) light fixtures and live plants in good condition will add major value to your curb appeal.

Re-evaluate. Have you, your spouse, a friend and/or family member walk through the house and point out things that stand out, take the good with the bad. Remember try not to take this personally...this is no longer your "home", it's a "house" that's on the market. Highlight the good areas and fix the bad. You are moving on and the ultimate goal is to sell!

Finally, just as a bonus...list your house with Brooke Cashion & Associates to sell faster and for more money!!!!!!

27284 and 27410 tops for home sales - The Business Journal of the Greater Triad Area

2010-07-13T13:47:00.000-04:00

Great news for the Kernersville area!

27284 and 27410 tops for home sales - The Business Journal of the Greater Triad Area

10 Years....

2010-07-11T15:01:00.004-04:00

Almost a month and how time flies! My daughter just turned 10 yesterday, so it seems fitting to reflect on the past 10 years. Months after Maddie was born, I took the real estate course and state test and began selling real estate. My how times have changed and haven't!!

When I first started my real estate career, the market was not exactly what you would call "stellar". Meaning, rates were around 9%, there was a pretty large inventory and I felt, as I sat on phone duty rearranging Post-It notes, that buyers were few and far between. So few and far, that on my very first transaction, the buyers could not secure financing and we negotiated an owner finance agreement, that eventually worked out in every one's best interest.

Banks and lenders at the time were still requiring sizable chunks of cash down and the first-time buyer had to save (gasp!) money or have it gifted in order to make a go of purchasing their first home. I remember one office meeting I sat in at the first firm I worked at, when someone came and spoke to our office about 100% financing and USDA rural housing loans. They showed a slide-show, (yes, not PowerPoint but slide show) of the various income levels and how they correlate to the number of people in the family. I remember the buzz around our office as to how could this be sustained and do these folks really need this kind of governmental assistance if they can't qualify under the current standards of lending....Well, you can now sit back and Monday morning quarterback, but you also know where that got us. Now the government backs over 90% of all loans and establishes outlandish criteria and hoops to jump for legitimate buyers while still offering, up until a very short while ago, these SAME exact loan programs!! Guess we still haven't learned...

As I became more experienced, changed companies, owned and sold my own company, my perspective changed. I grew into a position that allowed me to consult and advise buyers and sellers on the purchase and sell real estate. No longer, cold calling (done away with by Do Not Call registry), no longer giving recipe cards and tossing candy in the parade, time and experience blessed me with a trusted and loyal client base that is always sending new leads and referrals my way. Folks now understand my job for them doesn't stop at closing, it continues as an advisor for home remodeling, refinancing, additions, real estate tax questions, advocacy on their behalf to banks and attorneys and so much more. This career is fulfilling and challenging, ever-changing, rewarding, sometimes emotionally-draining and sometimes down-right sad.

Our family has gone from sitting in our first 800 square foot home, with a computer hooked up to a phone line and an AOL disk received in the mail...to wireless and handheld SmartPhones, able to download documents anywhere and databases that includes thousands of names and contacts with a key-stroke.

Easier? No. We sit here today and have no idea where the market truly is because of a false-floor placed on real estate. At least 10 years ago, the buyers and sellers drove the market and the supply and demand, not bureaucrats in DC. Until fewer regulations and requirements are placed on real estate and lending, rather than more and the market settles because of a good dose of old fashioned common sense, then we will continue to speculate on what the next 10 years will look like. Locally, we are in good shape and for that I am grateful, but our market is affected by those trying to sell in other areas and true recovery can't happen until the job market stabilizes and the private sector adds and innovates. And until then, our industry will have to be innovative to not only survive but find a way to thrive in this period of ambiguity.

7 tips for picking a real estate agent

2010-06-22T12:09:00.000-04:00

Wishing there were a good way or formula to choose a Realtor? Great article on msn.com
I would be happy to provide any of my clients or future clients this information and look forward to helping you and your friends and family with all of their real estate needs...Click below! Have a great day!

7 tips for picking a real estate agent

Congratulations On Your New Arrival!

2010-06-08T15:53:00.002-04:00

Gotcha! Nope, not me having a baby...but our team does have some exciting announcements to make regarding some very special additions!

First, Brooke Cashion and Associates welcomes TWO new members to the team! Jennifer Sammons has just joined me as a new agent on the team, specializing in buyer's agency, new construction and the Surry and Stokes county areas. Funny how things work, but Jennifer was a former client of mine who lived in Kernersville and I sold them a beautiful home on 7 acres that backs up to Pilot mountain. Needless to say, I was thrilled when she told me she was looking to change careers and get into real estate. Jennifer previously worked several years with a national new home builder as an interior designer and most recently she worked with a local plumbing fixture company. Needless to say, she knows homes and has been around remodeling and new construction for well over the past ten years! Not to mention, she is super active in the Winston-Salem Home Builders Association and sits on their board of directors. I cannot even begin to describe what a pleasure it is to have Jennifer and her positive attitude, witty sense of humor, excitement and her fashion-sense in our office! She is available full-time to serve all of your real estate needs and can be reached at 226-399-5218.

Our next addition is Dawna Compton, our new right-hand gal, who filled in when our beloved Beth left to spend more time with her boys. Though we miss Beth dearly, Dawna fell right into the groove. Dawna will be specializing in systems, organization and marketing implementation so that our day to day processes go smoothly in order to allow Jennifer and I to be out in the field and physically with our clients more often. Dawna also brings a ton of resources with her, especially her knowledge and enthusiasm for technology, her "can-do" attitude and her strong work ethic--each of which are seasoned with a dose of quirky humor! If you are a current client and need anything regarding fliers, books, website management, etc. Dawna is your gal--but of course, you can still call me anytime!

We do have another arrival to announce and that is Allen Tate Winston-Salem's arrival to our new location in downtown Winston! We have FINALLY settled into our new building located at 147 S. Cherry St. and it is beautiful! Please find the time to drop in and say hello or wave as you pass by on Business 40!

With these additions, I look forward to all of the good that is certainly to come from it and I am excited about implementing new resources to better serve you and your referrals!

Keep 'em coming!

Brooke

That's What I Call a Great Deal!

2010-06-06T17:00:00.005-04:00

What a wonderful and relaxing weekend, after the madness of tax credit deadlines, soccer tournaments and end of school activities, it seems as if life has gotten back to normal...well at least until tomorrow!

Several interesting bits of information to be relayed to you that have recently occurred...great home on Fielding Drive in the Post Oak subdivision is back on the market after only have recently exchanged hands in the past month or so. One of my close friends asked me to confirm if the first sell actually went through and it did, but for any of you looking for a great one level brick ranch in an established and super convenient Kernersville location, contact me for the specs...listed at just $205k--not much more than what it sold for only a few weeks ago!

Several of my listings have recently been reduced...placing them in a category that I call "What a Great Deal!" That means if I had millions of dollars, I would grab these homes up and hold on to them for a few years and well, you know the rest of the story. One of these is my mother-in-law's home in Salisbury Crossing at 605 Charles Conner. She just authorized another reduction of 5k, making this a steal at 195k!! Check it out www.allentate.com/brookecashion/564429

Another one of these "deals" is a new listing located in Tredegar at 1719 Tredegar Road. Things have been pretty slow for this subdivision for some reason, but this home is priced to sell at just 250k...4 bedrooms, all-brick and a huge, level fenced backyard. www.allentate.com/brookecashion/581968

Also, if you know of anyone looking for something below 150k that is move-in ready check these HOT PROPERTIES out!! Perfect for an investor wanting to hold and flip, great for rental property or for someone just needing some great space for the money! Check out the lot sizes, condition and location for the price.
908 Huntington Run in Kernersville www.allentate.com/brookecashion/573015
1140 Ziglar Road in Northern Winston-Salem www.allentate.com/brookecashion/572220

Anything else that you hear of or have questions on please don't hesitate to call me, text, email, Tweet, FB or post to the blog...we'll pick it up and get back to you!

Stay tuned for days on market updates, inventory and new listings!

Keep an eye out for the June e-newsletter coming your way this week with tons of new info!

Brooke

Red Skelton's Pledge of Allegiance--Happy Memorial Day!

2010-05-28T10:41:00.000-04:00

It Really Is This Simple...

Weekend Update: Wine Festival, Dash Game and Spring Cleaning...

2010-05-21T13:11:00.002-04:00

Always one to try and keep you abreast of community happenings, I'll let you know of a few activities taking place this weekend in the Cashion household.

The Salute wine festival began on Thursday, May 20 with several restaurants and local vineyards pairing to bring you customized menus/selections that feature the best of wine and food the Triad has to offer. If you are new to this event the dinners are certainly something to check out. They start at $60pp which is a bargain if you view the selections. If you can't enjoy the dinner portion, then take a moment on Saturday to come to downtown Winston to take part in the actual "street festival" portion of the event. There will be tons of wineries offering tastings and selling their products along with live music and various entertainment. Stay for the after-party which I hope to attend, that will start around 6ish and will host one of my all-time favorite bands Absolute 80's.

Tonight will also be a BIG night in our family, as we are joining some dear friends and attending our first Dash game as a family. Both Jake and I have been to the games, but never together and Maddie has yet to see a game at the new stadium. One of the highlights of the evening, besides spending this gorgeous Carolina night with friends, will be one of our friends' son singing as entertainment with his chorus. As my friend declared, to these kids, it might as well be Yankee stadium...can't wait to hear the performance!

To round out our weekend, because the weather looks to turn nasty, we are going to make a push to Spring clean. Trying to de-clutter to possibly get ready to put our home on the market is a real chore. Slowly, we have made progress getting some of our TO DO list knocked out...so to all of my listing clients out there--I FEEL YOUR PAIN! We have painted our exterior trim, replaced front porch post columns, landscaped, pine strawed, had windows cleaned, painted, had carpets cleaned and the list still has several items that need to be knocked out. Goodwill here we come!

Have a great weekend and I hope that you take the time to enjoy your family and friends regardless of your activity! If you know of anything else fabulous going on in our area, feel free to post for the rest of us to enjoy!

Brooke

Tax Credit Opportunity Over...Step by Step to the Closing Deadline

2010-05-17T14:44:00.003-04:00

I believe this has been the longest break I have taken from blogging since I began this journey over a year ago. However, with the demands of the tax credit and deadlines looming, it has been a necessary evil. I would like to share with you a synopsis of the path from contract to close and how it will effect those trying to obtain the tax-credit.

As a review, the buyers and sellers taking advantage of the tax credit had to be under contract by April 30 and now the clock is ticking for them to close by June 30 which is fast approaching. What that means is that several hurdles have to be crossed for closings to be successful, which reflects on the ability of the Realtor, the lender and the financial viability of the buyer and seller. What in the world does that entail you ask?

Well for starters, after the contract is executed (which our team was doing up until midnight of the deadline!), the clock starts ticking for the buyer to obtain inspections, including a general home inspection, wood-destroying insect, radon, structural, etc. Upon completion of the inspection, the buyer can submit a written request to the seller for broken items to be repaired. This is usually one of the major sticking points of the negotiation process. However, now with these first-time credit eligible buyers, they have lost some of their ability to negotiate these repairs effectively with the seller. Meaning that the seller can say no to the request and if the buyer walks from the contract to find a more suitable home and begins this process over again, they are no longer eligible for the credit. I believe that you will find more and more buyers sucking up some of these minor repairs, unless they exceed their "cost of repair contingency" or exceed the $8000 credit threshold in repairs. Certainly, this is an interesting and new position for buyers to be in, to say the least.

Once the inspections are behind the buyer, the paperwork is continually being submitted on their behalf to the lenders for loan approval. This process normally takes 30-45 days in a natural real estate setting, but with the large influx of loans those buyers under contract on April 30 may now be facing a longer "wait" period, pushing them precariously close to the deadline to close of June 30. Agents such as myself, added language that makes the contract null and void, with earnest money returned, if the deadline is missed, should the buyer desire. My belief is that these kind of statements being added to contracts are few and far between, as far as the deadline performance is concerned. Now, don't get me wrong, I have several buyers that qualify for the credit, but would purchase regardless because their housing needs require such--therefore, that particular language was not necessary.

Another layer of buyer-loan approval is now the additional information that is required per new and existing Federal regulations. This could mean, verification of condo v. townhouse, how many rentals are in a particular subdivision, if the home meets FHA/VA guidelines for condition, if there have been any deposits in the past 30 days that are out of the norm, verification of employment, well and septic testing, lead-based paint testing, structural letters for any previous termite activity whether treated and repaired or not, name verification, marital status verification, primary-residence verification, and the like....THEN AND ONLY THEN after all of these items and more are met, does the package go to the closing department for a once-over and get sent to the attorney for organization and closing.

Yet, here's a new hurdle for these tax-credit buyers given the state of the economy...short sales. By now you have all heard of short-sales and understand the basic concept of the process. So keep in mind that a good deal of these buyers are attempting to purchase properties that are going to require "third-party" approval, better known as bank-approval. In most cases this requires bank approval from two separate banks on a first and second mortgage! The typical time was 120 days, but with the recently passed legislation that bonuses banks and sellers to expedite short sales, we are hoping that this can cut the time down to the less than 60 day window we were looking at with the tax credit deadline.

As you can certainly see the pieces have to fall into the right places for the tax-credit buyers to enjoy success and this takes monitoring of the transaction, pre-planning, watching for red-flags and the like...but with diligence, the majority of these buyers and sellers will close on or before the June 30 deadline.

When details matter...experience certainly does count!

Brooke

So Much To Do...You Can Buy a Home or Have a Glass of Wine...

2010-04-23T15:21:00.005-04:00

As the weekend approaches I am sure that you are just wondering what in the world you can do to fill the time...I was just teasing one of my friends and telling her that for Realtors, Fridays are our Mondays. This is the time when everyone has off work and is gearing up to go out and fervently look for homes before the tax credit expires. Well, that is certainly a great way to spend time and if you have waited until the last minute, there are some of us out there that will certainly make time to find you the perfect home! Just give me a call, text or email and we can carve out some personal time for you.

On another note, there are some great events taking place this weekend, in and around town that might interest you. As always during the Spring, downtown Kernersville will host the Music and Mingle at The Factory. Tonight features guitarist Adam Turner, who teachs at Love That Music, where my daughter takes guitar. I have heard only excellent things about his skills. Those in attendance can take advantage of the lovely weather, enjoy the shops, which will be open, grab a glass of wine or beer from Shakespeare and Co. or just hang with friends while winding down the week. All excellent options for a Friday!

Tomorrow morning, for those of us looking to have a little Saturday morning pick-me-up, there will be a charity 5k Walk/Run for Debbie Varner. Debbie is a fellow Realtor who works at Prudential in Kville. She is a mother of three and has been battling cancer for quite some time. Registration begins at 8:30 at the Kernersville YMCA and is $20 for an individual and $25 for a family. What a great way to help one of our fellow neighbors in need, while getting some much needed exercise. Maddie and I are both participating...this will be her first 5k and my first event with her! Exciting!

Also, tomorrow night Korner's Folly is the annual Wine Tasting event. Always a fun time to get together with Folly supporters and out of towners, this event has grown a TON since it's inception several years ago. Lots of North Carolina wineries will be featuring their selections and there will also be food provided as well as live music. Information and ticket prices can be found on the Folly website.

So, there you have it...If you aren't viewing real estate, which I will happily doing for a large part of the weekend--then maybe I will see you at one of the many community events that are being offered this weekend! Cheers!

Celebrating Successes...

2010-04-19T13:28:00.002-04:00

This year Allen Tate and Brooke Cashion and Associates had numerous successes. Despite a difficult national real estate market, our local market spoke for itself and we capitalized on the movement of buyers and sellers in and out of the Triad. Here are just a few of the things that we can be thankful for:

*Enhancement and diversification of our media branding strategy, including beefed up online advertising, electronic billboards, mapping features, social media marketing and more

*Contributed over $370,000 to United Way for cultural initiatives and public education--all staying within our local communities

*Recorded more that 25 million property details and page views on allentate.com

*Recorded over 2500 hits per month on brookecashion.com

*Exposed our listing inventory locally, regionally, nationally and internationally via more than 6,000 websites!!

*Introduced Tate Chat, a live chat feature which allows consumers to communicate in real time online conversations with client-care reps

*Introduced Job-Loss Protection and Rate-Relief programs in order to build consumer confidence and inevitability sell more homes

*Implemented the Allen Tate Short Sale Program to help homeowners avoid foreclosure

*Maintained weekly updates to our clients via text messaging, e-newsletters and activity emails

*Maintained yearly volume for Brooke Cashion and Associates even in a "down" market

*Hired an assistant and a full-time buyers agent for Brooke Cashion and Associates

*Implemented video tours of listings for sharing on Facebook, Twitter, my blog and more...

*Continually brainstorming about how to make your real estate experience the best it can possibly be...if you have a suggestion or idea, please let us know.

Brooke Cashion and Associates
336.817.3598
www.BrookeCashion.com
www.kernersvillekorner.blogspot.com
brooke.cashion@allentate.com

Animoto Video Tour of 1140 Ziglar--OPEN HOUSE THIS SUNDAY the 25th from 2-4

2010-04-19T11:41:00.000-04:00

Great video tour of this fabulous listing in Winston-Salem! Acreage plus pond! 3bd/2ba--Only $125,000! Check it out and let me know what you think!

Ziglar Road

Tax Credit Leaving You High and Dry?? Certainly Not the Only Reason to Buy! (or sell)

2010-04-17T15:00:00.005-04:00

Approximately two weeks left in the first-time buyer and move-up buyer tax credit period. For those of you still looking to take advantage of the credit, you must have a completely executed contract by April 30 and be able to close no later than June 30.

However, if you are not one of the select few to have your home under contract by the deadline in order to get your $6500, don't despair...there are still great reasons to keep your home on the market, sell your home and purchase a new one!

Rates are still low. Regardless of how familiar we have gotten with historically low rates, this is set to change. The federal government has put a halt on purchasing mortgage-backed securities meaning that banks will start charging more to lend money-resulting in that higher rate.

A small change such as a 1/2 to 1% can easily eat up the tax credit advantage. I have blogged previously about the actual numbers (see archives), but 1% can change your payment as much as a price decrease of 10% can. What does that mean to sellers who need to sell in order to buy?

Price your home not just competitively but make it compelling. Get a secured contract in hand while you can still take advantage of low interest rates, inventory selection and prices that have been whittled away over the course of the past year. You may take a hit on the front side however, if you ever see yourself needing more space, a better location, easier maintenance or the like, NOW IS THE TIME!!

It is my opinion that the momentum of the credit has peaked and most folks who are going take advantage of the credit have made efforts to do so, but that means opportunity for others. Our housing market won't be confined by governmental whims and incentives but rather in true market supplies and demands. Once the dust settles we are going to have a very good idea of where our local market stands and I think those that took advantage of historical real estate situations will certainly be pleased with themselves in years to come--especially in the Triad!

Feel free to call me or email me to discuss your personal real estate situation!
www.BrookeCashion.com
brooke.cashion@allentate.com
336-817-3598

Realtor.com Social Networking and New Addition to Team

2010-04-13T14:42:00.003-04:00

Another piece of exposure for listings nationwide! 7 million buyers searching on Realtor.com can share your home with folks on their social networks...Get Involved and Start Sharing!

Remember you can always become a fan of Brooke Cashion and Associates and also have the ability to view and share listings, real estate blog posts and much more!

**NEWS CORNER**

We welcome Dawna to Brooke Cashion and Associates as administrative support! Dawna is going to help this train keeping moving forward...we look forward to having your on our team!

As always, keep in mind that we want you to contact Brooke Cashion and Associates for ALL of your real estate needs! Whether you are remodeling, refinancing, landscaping or any investment in your home...call or email us first OR post a question on Facebook...allow us to consult you before making changes that could permanently effect your home's value.

Happy House Hunting!

Brooke

No Need to Sell First to Get Tax Credit...

2010-04-01T14:29:00.003-04:00

For those of you out there with homes on the market, keep in mind that you do not have to sell before buying your "move-up" home and realizing your $6500 tax credit. As time grows near to have a property under contract, you can certainly consider other options for your current home such as renting or lease/purchasing. Now, the kicker is that you may have to show a lease or income before being able to qualify for the loan on your second home and you may not feel comfortable paying two mortgages. All of this hinges on your personal financial situation and how comfortable you feel. According to an article on RISMedia they say the following about the "move-up" credit.

A home buyer does not need to sell their current home in order to be eligible for the repeat buyer credit. They can continue to own both homes and rent or use their former home for something else, as it no longer serves as their principal residence. The taxpayer is required to use the new home as their principal residence, and live in it for at least 36 months or they will have to repay the credit.

Certainly something to consider as time approaches for the credits to end. If you have any questions about your personal tax situation, remember to consult your tax advisor. Should you have questions about your personal real estate situation, remember to consult your local Realtor, Brooke Cashion.

Happy Easter!

Burning the Candle at Both Ends...

2010-03-24T16:01:00.004-04:00

1140 Ziglar Road-Winston-Salem Acreage, 3bd/2ba cottage on large fishing pond! $135,000

www.allentate.com/brookecashion/572220

It's been a few days since I last posted and at that point I was trying to put something out there that was a little lighter...I think I did, heck, I don't even recall what the last post was on! And that, my friend, is exactly my point...things have been wild here, which is good, but crazy!

Real estate in our area has definitely gotten legs under it. As a company and as an individual agent we are up significantly in number of new listings. Personally, I have several new buyers, some being relocated to the area with their jobs or with the hospital. I also am fortunate to be working with several referred buyers and just wrapped up helping some dear friends of mine, sell their home in Lewisville and purchase another. So, yes, juggling soccer, school, Spring Break, dinners, church, running AND fitting in 70-80 hour work weeks can be challenging BUT fun and rewarding at the same time!

Because of all of the new listings, if your home is currently on the market NOW is the time to get the price right and the condition impeccable. I have viewed so many homes in the past few weeks and cannot believe that the little stuff such as clean windows, counters, floors, fixtures are not taken care of prior to listing the home. Some of the homes we have seen smell like pets, have huge stains in the carpet, fingerprints on the wall, crust from who-knows-what on the counters and excuses for landscaping that would make Olmstead turn over in his grave! Now your home doesn't have to look like Biltmore, but by God, cleanliness goes a long way my friend!

Beyond what should be obvious items to tackle prior to listing your home, getting the rest of the home in impeccable condition is paramount. Yes, I know you are moving and why didn't you do this years ago so that you could enjoy it? Can't answer that one for you! Take care of trim that is rotting or needs to be painted, replace/repair your front door, patch holes, paint ceilings if there are stains (and the stains have been repaired), de-clutter and clean out, replace light bulbs, put out fresh flowers, am I starting to hit a nerve?

I hope not because now more than ever getting the highest and best price for your home means being ready for this wide-open race we call "real estate" right out of the gate! Be the shiniest apple in the bunch AT THE BEST PRICE! It's not good enough any longer to be competitive, you must be compelling!

So join me in capitalizing on this upswing in our market by getting your home in tip-top shape and enjoying this beautiful weather...burn on my real estate friends, not out!

Brooke

Springing Forward...

2010-03-16T14:43:00.002-04:00

As I drove through Buena Vista this morning coming from a closing...I looked around and was overwhelmed at how many trees and shrubs were pushing blooms towards the overcast sky. The grass seemed greener than usual and flowers, such as jonquils and crocus were popping through freshly laid pine straw. Then it dawned on me...my yard doesn't look like this, heck, no yard around me looks like this. Could it be that the affluent also enjoy the unique privilege of enjoying Spring a little earlier than the rest of us?

Another testament to the benefits of properly landscaped and manicured yards...hmmm...guess I'll detour through Buena Vista when I need a pick-me-up until Spring officially arrives at my home or maybe I'll just spring for some new pine straw and create my own little slice of heaven!

Running from Something?

2010-03-09T15:25:00.002-05:00

Ok, I've done it AGAIN...I'm a runner!?

For any of you who really know me, you know that last year, about this time I started running/walking/training for a 5k. Never been a runner, never wanted to be a runner, however, this is an item on my "bucket list" and I decided before I get too awfully old I need to cross this one off! During the course of training last year, I subscribed to a training plan called "From Couch to 5k"...it is an incremental plan that can be found online that gives daily training guidelines in order to work you up to being able to run successfully (which means FINISH) in a 5k. I made it last year up to about 3 weeks before the big 4th of July race in Kernersville, when I came down with a nasty respiratory virus/fever which kept me from exercising for almost 3 more weeks...then my grandmother passed away and there went the summer and all of my momentum and enthusiasm was sucked away like the last slurp of a frosty margarita. Done, finis, never to be picked up again? Not so...I am back with a vengeance and beginning week 4!

This year, I have started earlier, eating better and sticking with the plan like toothpaste on a sink...only 3 weeks left until the Kernersville 5k on March 27th! The runs are easier this year and I have fortunately had a running partner and a supportive husband which makes it more pleasurable. I now find myself pushing an extra minute or to the next stop sign rather than just doing the minimum...what does that mean? Am I a runner again? That's yet to be seen...however, when I received an email from a college roomie of mine asking me to do a half marathon in November, I didn't laugh it off immediately, I actually gave it a second thought...Am I crazy? Nah...just a runner!

When Details Matter...

2010-02-23T14:14:00.003-05:00

I had lunch today with a former client and a dear friend of mine who is considering a career in real estate. I look forward to continuing our conversation as she works step by step to obtain her real estate license and moves into the position of "trusted advisor" and Realtor.

As we were discussing opportunity and risk, the conversation took an interesting turn as she was filling me in on details of a friend of hers that is in the market for a home. She gave me their information and let me know that they would be contacting me in order to start the home-buying process. We would work in this fashion until she obtains her license and is able to help them if they haven't found the "perfect house" by that time.

She started talking about why she told them that they should work with me, and I have to admit I have never seen it from the outside in quite like she was discribing. Keep in mind this person had just sold and bought a home with me this year, wants to work with our group of associates and is now referring me a friend! Wow! My ego was really getting inflated! The points she made regarding my service and what I could offer her friends buying a home were these...

*Anticipation of problems before they arise "nipping it in the bud" , "worst case scenario" and then "most likely case scenario".

*Taking time to find the right house for a buyer...because of my experience and established clientele, having the patience and resources to spend the necessary time finding a home that works, rather than "pushing" someone into something that doesn't.

*Understanding the marketplace...what it means to understand home values, future development and growth areas and what homes meet varying and ever-changing governmental guidelines.

*Team of Experts...working with the right partners in lending, inspections, attorneys to make the deal go smoothly and knowing that everyone working on the deal is working together to get the job done right the first time!

*Having a system to take care of the details...I admit...I am a little OCD when it comes to my system of business practice...everything is filed, categorized and noted so that we can refer back to previous conversations, provide documentation and make sure that your interests are taken care of...

All of this works to make my clients' real estate experience the best it can be and I love her for taking the time to tell me WHY she trusts my advice! So on that note, I'll refer back to one of my previous marketing mantras and thank my friend for helping me to revive...

"WHEN DETAILS MATTER....EXPERIENCE COUNTS!"

Happy House Hunting!

Brooke

Wesley--Film Review...

2010-02-22T13:14:00.004-05:00

I haven't posted "cultural" events in a while, so I thought I would give it a whirl.

Last night, we attended Wesley, with another couple from our church. I had been hearing bits and pieces about the film since it debuted several months ago at the NC School of the Arts. The film was produced here in North Carolina, more specifically, the majority of it was shot locally. Easy to recognize places such as Old Salem, Salem Lake, etc. unfortunately make it one of the main highlights of this production. Understanding that budgets are limited in ventures such as this, small adjustments could have been made to authenticate some of the scenes.

The story was intriguing and I found it very interesting that John Wesley struggled so hard with his own faith prior to finding a place in his heart to "preach to the masses." I also enjoyed the storyline interlacing with the Moravians as his personal religious beliefs were tested and adjusted. Local faces made this production all the better! Kernersvillian Richard "Dick" Stromehieher made a lengthy appearance as a close-minded minister in the Church of England. For those of you who enjoy him in Kernersville Little Theater, it makes it worth viewing!

My favorite part of the evening, excepting the company, was the venue of this film. The newly opened A/perture in downtown Winston-Salem, located directly across from Mellow Mushroom at 311 Fourth Street. Trendy and bright, as well as intimate and artsy, is exactly what Winston has been needing in order to showcase some of the independents that don't appeal to the mass audience. Each auditorium seats 80, the seats are comfortable and the area clean. The concession area, though I did not purchase anything, featured beer and wine, cupcake cups, cake balls, popcorn and traditional movie fare.

Take the time, grab dinner downtown and enjoy a film "indy"-style...if you hurry, you may catch Wesley!

New Culture of Spending...

2010-02-10T13:42:00.002-05:00

If you are like us and most of our friends, you've done just about all the "trimming" to your budget that you can without giving up the "necessities." Now, I know that "necessities" can be a subjective term based on your priorities. In our household, we have not had cable for almost one year now. In March of 2009 while whittling down our personal budget, we rid ourselves of cable AND television. It was only until my grandmother passed away in July that we ended up with a television, courtesy of my aunts and uncles. Fast forward to today and still no cable and the digital rabbit ears are double-time, trying to grab that elusive digital signal out of the sky, which can sometimes be tricky in strong winds, rain, snow, sleet, too much sunshine, etc. :)

Speaking of priorities, when we tell folks we don't have cable, you might as well have told them that we only use leaves as toilet paper. "Unheard of! Are you crazy!?", they ask. Well, I believe that these "crazy" cuts, regardless of your priorities are all a part of the new culture of spending.

Money has been relatively easy over the past decade or so and while I am certainly not an economist, easy money has been true, for most folks. If you weren't making it, you could borrow it, if you couldn't borrow out right, you could leverage "equity" and get your hands on some. At times, it felt as if everyone was walking around in "a rich man's world." Advertisements catered to high-end, super-vacations, homes had tons of square footage and were "macked" out, giving rise to the term "McMansion", where "normal" homes were being torn down and replaced with mini-castles. For a while you would hear how much someone "spent" on an item, not what a "great deal" you might have gotten. Having name brand or the best and most of everything was the sign of the time.

As far as businesses go, my husband and I were new small business owners at the time, we said "no" very rarely when a new marketing idea was presented or a charity asked for money. We had a business plan but because money flowed, it was easy to veer away under the excuse that we needed to "branch out" or "try something new". Now, still business owners, our business plan is rarely "tweaked" during the year, except when we see a way to save and everything is tracked religiously to see the ROI. I have made it a personal business goal to focus on zero-based marketing by teaming up with other "trusted advisers" and pooling our resources and ideas to create the best experience for our clients.

So, for me and many others out there, it's back to the basics. Quality, hometown-feeling service, taking time to chat over coffee instead of lavishing gifts, quaint gatherings in lieu of big, impersonal, corporate parties, purchasing "homes" instead of "flips", fuel-efficient rather than monster-like, trusted advisers over "sales" and yes, maybe even cold beer and a home-grilled steak occasionally over cable t.v.
Like I said, it's all about priorities...

Those Who Wait Will Pay Thousands More This Spring

2010-02-02T14:48:00.002-05:00

This just in from Allen Tate Mortgage courtesy of Jennifer Tuttle, Mortgage Specialist--Winston-Salem, NC

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.

Real Estate Stats--January 2010

2010-01-25T12:24:00.002-05:00

"If prices come down by another 10% but interest rates increase by 1 percentage point, that would mean the same monthly payment today versus waiting."--New York Times 7/27/2009

"As the Fed begins to wind down its purchases in the next few months, rates will become less enticing. Analysts expect them to rise to at least 6 percent from the current 5 percent."--New York Times 10/24/2009

In 2009 the percent of total sales in the Winston-Salem, NC market were as follows
$0-100,000---30.0%
$100,000-250,000---54.2%
$250,000-500,000---12.3%
$500,000-750,000---2%
$750,000-1,000,000---.003%
$1,000,000-2,000,000---.002%

Should YOU wait until the market rebounds to sell? According to Housing Wire 9/21/2009 and Moody's analyst:

At least another decade will pass before housing prices return to peak 2006 levels, according to analyst Celia Chen at Moody's Economy.com. She wrote that housing prices will decline for another year bottoming out in the second quarter of 2010 before rebounding.

"The correction will be not only deep but also lengthy. The national price level will not regain its 2006 high until 2020."

Free House? Depends on how you view the glass...

2010-01-13T13:40:00.004-05:00

Well, there isn't such a thing and home ownership does come with a ton of responsibility, but nothing is more American than owning your own home. With the extension and expansion of the tax credit and the raising of the limit of how much money you can make in order to qualify (125k-singles**225K-couples), there has never been a time that felt more like, well, free!

If you take the notion of a borrower paying $900 in interest and property taxes each month, this would equate to a loan amount of $165,000. At this loan amount, the interest is around $690 and the property taxes, let's say are $210 for a total of $900--both of these items being normal tax write-offs.

So on this $900/month budget or $10,800 per year they are probably close to a 25% tax bracket with federal and state taxes, so they could potential recognize $2700 in income tax benefits PLUS the additional $8000 in credits from the stimulus!

WOW! They just got their home for $100 this year! Of course, back to the expenses...there is of course home owners insurance, which should be a little more than the renter's insurance they SHOULD be carrying and they will have to maintain their new home.

In this situation it is obviously one scenario and as I tell all of my clients, even those who look like they have "cut and dry" situations, that they need to consult their tax advisor. I also have to say that this novel idea was not mine, but passed on to me by a dear mortgage associate.

Bottom line is this...the tax credit was extended and expanded and if you are even remotely considering moving up or out, NOW IS THE TIME! Any financial advisor that you read in the WSJ or see on t.v preach that this is a historic time for buying real estate...imagine the value 20 years from now!

Make the credit work for you and give me a call so that I can help point you in the right direction so that you too can take your piece of the stimulus pie!

Rules For Living

2010-01-08T13:11:00.001-05:00

This has been hanging over our kitchenette at the office and I have enjoyed it, so i wanted to share these sentiments by Kent Keith.

RULES FOR LIVING

1-People are illogical, unreasonable and self-centered. Love them anyway.

2-If you do good, people will accuse you of selfish ulterior motives. Do good anyway.

3-If you are successful, you win false friends and true enemies. Succeed anyway.

4-The good you do today will be forgotten tomorrow. Do good anyway.

5-Honesty and frankness make you vulnerable. Be honest and frank anyway.

6-The biggest men and women with the biggest ideas can be shot down by the smallest men and women with the smallest minds. Think big anyway.

7-People favor underdogs but follow only top dogs. Fight for a few underdogs anyway.

8-What you spend years building may be destroyed overnight. Build anyway.

9-People really need help but may attack you if you do help them. Help people anyway.

10-Give the world the best you have and you'll get kicked in the teeth. Give the world the best you have anyway.

X Marks the Spot...

2010-01-04T13:42:00.003-05:00

Well, now the holidays are behind us and 2010 or the Year of X is now upon us. I have been super busy listing and consulting folks who are weeks away from listing, so there will be plenty to choose from if you are a first-timer or move-up buyer looking to take advantage of the extended and expanded tax credit before April 30, 2010.

The numbers show the "hot spots" in the market and I have some stats from November 09 I would like to share that demonstrate just that.

These stats are residential stats for Forsyth County-November 2009

Homes closed between 100,001 and 150,000---112 sold
Homes closed between 150,001 and 200,000---41 sold
Homes closed between 200,001 and 250,000---17 sold
Homes closed between 250,001 and 300,000---12 sold

TOTAL of home sold that were over 300,000---29 sold!

Hot market is definitely between 100-200K and those over the 300K mark are going to have to price aggressively, still be the shiniest apple in the bunch and be open to buyer incentives at least for the next quarter or three.

December and January's numbers will be very interesting since it is my opinion that these figures above from November 09 are artificially inflated due to the perception that the tax credit was ending on Nov 30...we'll see how we adjust to the new deadlines and where the market ends up after April 2010...As far as bottoming of the market, it is my hope that X will truly mark the spot as the bottom and we can go onward and upward from there.

Wishing you a healthy and prosperous New Year!

Ways to Deal with the Enevitable Holiday Stress...

2009-12-21T10:53:00.002-05:00

A great message arrived from the President of Allen Tate today, thought I would share it with you as you may be dealing with the tiny nuiances of holiday stress as we count down the days to Christmas...

* Accept that some days you're the pigeon, and some days you're the statue.

*Always keep your words soft and sweet, in case you have to eat them.

*Always wear clothes that make you look good, in case you die in the middle of whatever you are doing.

*Drive carefully. It's not only cars that can be "recalled" by their maker.

*If you can't be kind, at least have the decency to be vague.

*If you lend someone $20 and never see that person again, it was probably worth it.

*May it be that your sole purpose in life is simply to be kind to others.

*Never put both feet in your mouth at the same time, because you won't have a leg to stand on.

*Nobody cares if you can't dance well...just get up and DANCE!

*Since it's the early worm that gets eaten by the bird--sleep late!

*The second mouse gets the cheese.

*When everything is coming your way...you're in the WRONG lane!

*Birthdays are good for you...the more you have the longer you will live! :)

*You may be only one person in the world, but to one person you are the world!

*Some mistakes are too much fun to only make once!

*We could learn a lot from crayons...some are sharp, some are dull, some have weird names and are all different colors, but they all have to live in the same box.

MY FAVORITE:

A truly happy person is one who can enjoy the scenery on a detour!

Merry Christmas!

Brooke

Shop Local!! Top 10 Reasons!

2009-12-16T17:06:00.006-05:00

Ok, T Minus 8 days and counting!!

It's definitely crunch time and the race is on to get those last minute gifts. May I suggest 10 Reasons for BUYING LOCAL?

10. Nothing says Christmas like long lines of red tail lights in parking lots. Admit it, something would be missing if you didn't have to get into "some" traffic while jammin' to 99.5 and Christmas classics.

9. You DO need to touch, smell and see what you are purchasing...I can say from experience that a size online MAY NOT be what you receive just days, sometimes hours before Christmas.

8. Friendly, helpful service from folks in local stores who REALLY know what they are doing! Not script-prompted call centers that can't pronounce Kernersville or Mocksville, NO IT'S NOT KNOXVILLE!!

7. Local businesses need YOUR DOLLAR in this tough economy...why send your money to some off-shore account or to some corporation housed in Timbuktoo? Well over 50 cent of each dollar spent locally STAYS LOCALLY and supports our LOCAL ECONOMY! It's the economy stupid! :)

6. Unique gift ideas...go online or to a big box and you get what everyone is getting! These shop owners spend a ton of time trying to find items that set their stores apart...take advantage of their knowledge! Grab a cup of coffee from your local coffee shop or bakery and STROLL...see what nuggets you can pick out special for that special someone on your list!

5. Take time to remember that it's the thought that counts! Sure thoughts can be ill-fitting, ugly and sometimes embarrassing (me: thanks for the big red underwear mom!) but when you know that someone spent time shopping for you (mom: you like red Brooke and red brings good luck according to my reflexologist) you know that they really were thinking about you and what you like--not just clicking on a random sale item or ordering yet another thoughtless gift card.

4. Make it a social outing...remember the cup of coffee I suggested, well, turn it into lunch or dinner after a long, productive day out with the girls or guys...have fun, talk, search, discover your town!

3. Make history! Yep, you can do just that. Visit some of historic sites and older local shop owners for a bit of local flare! Buy Moravian cookies, tins, candles or send some North Carolina goodies to those friends far and wide...we have such a rich history, unlike so many other states, so share that NC pride!

2. Create a tradition! Yes, I know it might be hard to do everything locally, but it can be done. When we opened our office in downtown Kernersville in 2005, I did all of my Christmas shopping in downtown Kville. Now, it was challenging and especially then, when there weren't a great deal of shops open, but I did it! Now, the tradition in the Cashion family is to still enjoy a shopping trip to downtown Kernersville for gift purchases for ANY SEASON...we start there first! A book at Shakespeare and Co., a basket of NC goodies from Baskets and Beyond, jewelry at Splurges, and the list goes on and on.

1. Because you LIVE HERE! This is your town, city, village, etc. Take pride in knowing that you play an integral part in keeping small, local businesses alive. Your part will make all of the difference in this economy, so that everyone can have the Merriest Christmas possible!

Merry Christmas and a Very Happy New Year!

Changes to Good Faith Estimate Just Around the Corner...

2009-12-07T10:51:00.002-05:00

At our office meeting last week our Allen Tate mortgage VP spoke to our group about the changes on the horizon for Good Faith Estimates (GFE). For those of you out there who haven't purchased a home in a while, you may not remember that a GFE is required from the lender prior to loan commitment. Due to so many recent lending changes and loan defaults, the government has stepped in to simplify the process--thanks!

What was once a one page form has grown to three pages and is a basically a hand-holding, step by step worksheet for buyers to compare and contrast lenders and the loans they have to offer.

There are still caveats...dates are important to pay attention to because rates change, programs are eliminated and funds for certain programs can be limited.

It is still crucial to go with a reputable lender who can explain your options and make sure you are comparing "apples to apples" so to speak. Meaning that origination fees, points, transaction fees, estimates of expenses and escrows are broken out but can vary widely.

The one thing that jumps out at me and some of my colleagues is the fact that the lenders must disclose up front fees for services by third-party vendors. These fees cannot change but a certain percent from the overall cost. This means that your lender may say that they have an average price for legal services (closing attorney), but you want to choose someone you know. If the person you choose costs significantly more, bundled with other items that are variable, and your lender is basing their estimates on folks they have historically used, this may upset that proverbial "apple cart". If it does it could mean essentially limiting your choices because by using someone not in the "pool" could throw the estimates on the GFE out of whack, thus delaying the closing.

How, you say, if I am ok with the fees and the possible change can this delay my closing? Well, another change is that if these amounts charged change outside of the allowed percentage...the lender has to draw up another GFE and make sure that the closing occurs no sooner than three days from receipt.

There will definitely be "tweaking" of this document and though lenders are required to use the new GFE now, they are also in a transitional period to allow for instruction and adjustment.

Bottom line is that as a consumer of real estate it is necessary to find a means of understanding the cost of borrowing money and transacting real estate. Find a professional lender that understands the various programs and their ups, downs, ins and outs. Once you have several GFEs from various mortgage lenders, share them with your professional REALTOR so that you can talk about the programs and how they may effect what kind, what price and what location of the home you are going to purchase. That way everyone, most importantly yourself, is on the same page regarding your strategic plan to buy a home or investment property and that my friend, will bode for a smooth and professionally executed transaction!

Feel free to post questions or your own experiences with this new Good Faith Estimate or any other questions or comments you have regarding the real estate process!

Burlington-based Star Food Products to relocate, expand - The Business Journal of the Greater Triad Area:

2009-11-20T13:42:00.000-05:00

Burlington-based Star Food Products to relocate, expand - The Business Journal of the Greater Triad Area:

Winston-Salem Area In Economic Recovery?

2009-11-19T12:10:00.002-05:00

Interesting post from MSN-Money...thoughts, comments?

http://www.msnbc.msn.com/id/33934229/ns/business_eye_on_the_economy/

Triad Area: Buy Local This Holiday Season!

2009-11-12T13:41:00.000-05:00

Great public service annoucement as to why YOU should buy LOCAL this holiday season and EVERY season! Check it out and see if you can find your hometown! Kernersville is representing! :)

Triad Area: Buy Local This Holiday Season!

Update on Tax Credit Extension...

2009-11-05T12:41:00.002-05:00

This is an excerpt from an email that my lender-friend, LuAnn Davis sent just a few minutes ago...

November 5, 2009

Senate has passed legislation making if virtually certain President Obama will sign the
Homebuyer Tax Credit Benefits Extension and Expansion!!

If signed into law . . . . .

* The first time homebuyer tax credit of $8000, due to expire at the end of November would be
extended through April, 2010.

* Legislation is expanded to allow qualified move-up buyers to be eligible for a credit of up to $6500.

* Income limits have been expanded for first time homebuyers with incomes up to $225,000 for a married
couple now being eligible.

* Existing homebuyers will have income limits and must have lived in their current residence for 5 of the prior 8 years.

* Primary residences only qualify.

I am here to provide unsurpassed service when helping your buyers take advantage of this tax credit. Rates are still incredibly low and our common sense approach to underwriting will create a positive experience for you and your client. Please call me!

LuAnn DavisSr. Loan Officer
WR Starkey Mortgage

For The Record...NC Real Estate Update

2009-11-04T12:48:00.002-05:00

Per Issue 6, November/December 2009 North Carolina Realtors Association:

Just some quick factoids regarding the current state of NC real estate. We hear so much nationwide news, I thought it would be beneficial to share some state numbers with you. Keep in mind, all real estate is local and even though these are state numbers, numbers specific to your area and/or neighborhood can be obtained by contacting me, Brooke Cashion at 336-817-3598 or brooke.cashion@allentate.com

*First-time buyers continue to fuel the housing rebound. Most are between the ages of 25-45 and they have accounted for nearly 50% of the homes sales in the first 7 months of 2009!!

*NC existing homes sales posted its fourth consecutive month of improvement in September, the longest period of gain in 5 years. **My commentary** This may be attributed to prices adjusting to more "normal" levels**

*NC ranks as the 6th most popular state in the nation when it comes to where people want to love, according to a recent Harris interactive poll.

*National foreclosure rates soared in the 3rd quarter with 1 in every 136 homes going into foreclosure...HOWEVER in NC, we had the 14th lowest rate of foreclosure with only 1 in every 417 homes going into foreclosure.

Please feel free to post commentary on your observations of these facts and figures and contribute any additional pertinent information you may have, including references and links.

Great Tips for Preventing the Flu or other Viral Maladies...

2009-10-23T10:59:00.004-04:00

I SWEAR by the Neti pot...a cheaper version, which is just as effective, is to take a 3" bulb syringe (pharmacy supply store) and warm water mixed 3 parts salt 1 part baking soda and gently flush your nasal cavities. Best performed in the shower or over the sink, because it unless you are good, water goes everywhere!

This message is from Dr. Vinay Goyal a renowned doctor who visited last week to lecture on the topic H1N1 (SWINE FLU), its origin and precautions. He is an MBBS, DRM, DNB (Intensivist and Thyroid specialist) having clinical experience of over 20 years. He has worked in institutions like Hinduja Hospital , Bombay Hospital ,Saifee Hospital , Tata Memorial etc. Presently, he is heading our Nuclear Medicine Department and Thyroid clinic at Riddhivinayak Cardiac and Critical Centre, Malad (W).

Thanks to media hype about H1N1, several people who trust me have either approached or called me to advice. The hype in media about the utility of face masks and N95 respirators as a tool for g eneral protection against H1N1 can't be deplored enough. Yesterday, a friend who listened wanted me to write down briefly what I advised so that he could tell others in similar words. Hence this short email to friends whom I have advised recently (and others whom I haven't yet). Please realize that this is not an official advice, especially the one about face masks or N95.

Most N95 respirators are designed to filter 95% particulates of 0.3µ, while the s ize of H1N1 virus is about 0.1µ. Hence, dependence on N95 to protect against H1N1 is like protecting against rain with an umbrella made of mosquito net.

Tamiflu does not kill but prevents H1N1 from further proliferation till the virus limits itself in about 1-2 weeks (its natural cycle). H1N1, like other Influenza A viruses, only infects the upper respiratory tract and proliferates (only) there. The only portals of entry are the nostrils and mouth/ throat. In a global epidemic of this nature, it's almost impossible not coming into contact with H1N1 in spite of all precautions. Contact with H1N1 is not so much of a problem as prol iferation is. While you are still healthy and not showing any symptoms of H1N1 infection, in order to prevent proliferation, aggravation of symptoms and development of secondary infections, some very simple steps not fully highlighted in most official communications - can be practiced (instead of focusing on how to stock N95 or Tamiflu):

1. Frequent hand-washing (well highlighted in all official communications).
2. "Hands-off-the-face" approach. Resist all temptations to touch any part of face
3. *Gargle twice a day with warm salt water (use Listerine if you don't trust salt). *H1N1 takes 2-3 days after initial infection in the throat/ nasal cavity to proliferate and show characteristic symptoms. Simple gargling prevents proliferation. In a way, gargling with salt water has the same effect on a healthy individual that Tamiflu has on an infected one. Don't underestimate this simple, inexpensive and powerful preventative method.
4. Similar to 3 above, *clean your nostrils at least once every day with warm salt water. *Not everybody may be good at Jala Neti or Sutra Neti (very good Yoga asanas to clean nasal cavities), but *blowing the nose hard once a day and swabbing both nostrils with cotton buds dipped in warm salt water is very effective in bringing down viral population.*
5. *Boost your natural immunity with foods that are rich in Vitamin C (Amla and other citrus fruits). *If you have to supplement with Vitamin C tablets, make sure that it also has Zinc to boost absorption.
6.* Drink as much of warm liquids as you can. *Drinking warm liquids has the same effect as gargling, but in the reverse direction. They wash off proliferating viruses from the throat into the stomach where they cannot survive, proliferate or do any harm.

All these are simple ways to prevent, within means of most households, and certainly much less painful than to wait in long queues outside public hospitals.

Hard Work and Relaxation Shouldn't Be a Thing of the Past...

2009-10-23T10:01:00.003-04:00

Ok, it's Friday, a day to start winding down-right? Sorry to burden you with a heavy blog before the weekend, but it's the first time recently I have had the chance to really sit down and write.

Jake and I were talking last night about how Christmas was only 65 days away and I brought up how different it was going to be this year for Thanksgiving and Christmas without Nanny around. Most of you who read regularly, know that my grandmother, fondly called, Nanny, passed away in July. I have been saying that I want to write about that experience, but time, like everything else, has been limited for me to feel like I could do justice to the subject.

A little background...Nanny was a worker. From the time she was a child, on her family farm in Kernersville, just off of Pisgah Church Road, Nanny worked. She had several siblings that died as infants and two sisters who she enjoyed for many years to come. Nanny was no stranger to difficult times as her family survived the Great Depression and continued to live on meager income farming tobacco. However, to hear Nanny describe her life, you never would know that they ever wanted for anything. Days were occupied by hard work and hard work paid off. During the depression, Nanny talked about having plenty to eat, most of it being provided on their farm, from home-grown vegetables, slaughtered animals, eggs, milk and the like. They didn't go hungry like the folks who relied on the "business-world", the stock market or "easy" money...barely a ripple was felt according to her recollections.

When the family wasn't chipping in to keep the place running, they enjoyed each others company. In a time pre-television and radio, the Bible was a mainstay of family gatherings and church and the work-free Sunday afternoon were a welcome respite to the weekly grind. These Sunday afternoons were literally without running around, shopping, cooking, cleaning or anything that resembled work. The family would gather on the front porch, visit near-by family and friends or take moments to reflect on the upcoming or bygone week. Even the food was pre-made for Sunday dinner and it was fresh, scratch-made and plentiful!

Though this is only a snippet into the inner-workings of most families that grew up in this era and only a small glance at my grandmother's childhood, I challenge you to look at your own situation and how we define work and relaxation. I too, am guilty of working non-stop both at home and in the office, running myself into a place where I am neither pleasant to be around and have a hard time coming down from. This pattern makes it almost impossible to stop, enjoy family or take a "breather" without feelings of guilt or anxiety.

Take a lesson from Nanny...work hard when it's time to work but enjoy the fruits of your labor and the company of those you love most when the opportunities present themselves. Because of her and her family's hard work and limited reliance on outside sources, they had an independence that allowed them to dictate when they relaxed, what their lifestyle looked like and provided time for friends and family without outside distractions. I understand that times have changed and they continue to change. In order for us to maintain a resemblance of sanity during these times, we must breathe and take personal responsibility, working hard and rewarding ourselves for time well spent. Turn off the t.v, the blackberry, the ipod, the radio and reflect on your family, your friends and what exactly it is that you are spinning your wheels for.

WOW! Deep thoughts by Brooke Cashion...sorry if I bored you to tears, but brace yourself, because more "Nanny" installations are to follow. Have a great weekend and please feel free to contribute your thoughts on hard work, self-sufficiency, family members as role models and anything else you would like to share...

New Housing Prop on the Horizon....

2009-10-22T09:27:00.001-04:00

Courtesy of the NC Realtor newsletter...

Yet Another Housing Bailout on the WayJust as federal officials seek to wind down many bailout programs, the Obama administration announced earlier this week another initiative to prop up the housing market. http://money.cnn.com/2009/10/19/news/economy/housing_finance_agency_bailout/index.htm?postversion=2009101918

Feds Hedging on Extension of Tax Credit....

2009-10-20T14:19:00.002-04:00

This article appeared today. What are your thoughts on whether or not the tax credit should be extended or revamped to include "move-up" buyers?

HUD Secretary Hedges on Extension of Homebuyer Tax CreditOct 20, 2009 11:30 AM

By Richard Rubin,

CQ StaffHousing and Urban Development Secretary Shaun Donovan equivocated Tuesday on whether Congress should extend an expiring tax credit for first-time homebuyers.“I can assure you that the administration will work with Congress to fashion appropriate and effective homebuyer incentives, mindful of both their benefits to stimulating new demand and their costs to the American taxpayer,” he said in prepared testimony for a Tuesday morning hearing of the Senate Banking, Housing and Urban Affairs Committee. Donovan acknowledged congressional support for an extension, but he did not endorse it himself.The current $8,000 tax credit for first-time homebuyers, created in the economic stimulus package (PL 111-5) enacted early this year, expires Nov. 30. Housing and real estate interests and their allies on Capitol Hill are pushing hard for an extension. Some also want to make the credit available to all home purchasers, not just first-time buyers, and to loosen the income eligibility limits.Various extension proposals have drawn support from lawmakers in both parties, including Senate Banking Chairman Christopher J. Dodd, D-Conn.“The credit is set to expire in five weeks,” Dodd said in his prepared opening statement. “But the work of stabilizing the housing market won’t be done. We still need to use every tool at our disposal to fix this problem.”The intensified focus on the tax credit’s looming expiration came as the Commerce Department said Tuesday that while construction of new homes and apartments rose 0.5 percent in September, new applications for building permits fell 1.2 percent. That was the sharpest decline since a 2.5 percent drop in April and may have reflected uncertainty about the tax credit.Under questioning from Dodd, Donovan said there was “clear evidence” that the tax credit has helped housing markets, but he added that the administration wants to do more research on the costs.“We understand the urgency of this situation,” Donovan said. “And we believe that within the next few weeks, we will have additional data that will allow us to sit down with you” and discuss whether and how to extend the credit.Donovan downplayed the potential impact of allowing the tax credit to expire as scheduled next month. “The end of the tax credit would have some negative implications for the market,” he conceded, “but I do not believe based on all of the other actions that we’re taking . . . I do not believe that a catastrophic decline would be the result of the end of the tax credit.”The lead Senate supporter of an extension, Johnny Isakson, R-Ga., also testified at the hearing.Under a plan he is trying to attach to legislation extending unemployment benefits (H.R. 3548), the tax credit would be available to all purchasers of a primary residence. His proposal would double the allowable income of homebuyers eligible for the tax credit, to $150,000 per year for individuals and $300,000 for married couples. The credit would be available through June 30, and the Joint Committee on Taxation estimates it would cost $16.7 billion, according to Isakson’s office.“It brings a lot of Americans to the market that are sitting on the sidelines today,” Isakson said of his plan to broaden the credit, pointing in particular to the “move-up” market among people who already own homes.Isakson said that based on his conversations with administration officials and his Senate colleagues, he did not think there was support for boosting the maximum credit to $15,000, as he originally proposed, or extending it beyond June 30, 2010.“It’s the art of the doable and the art of the possible,” he said.Many economists have criticized the tax credit, saying that it would subsidize people who would buy houses anyway.Sen. Richard C. Shelby of Alabama, the committee’s ranking Republican, echoed those concerns and said “some basic questions need to be answered” before the credit is extended. He also said that a credit offset by a reduction in government spending would have a much different impact from an extension offset by higher taxes elsewhere.Supporters of the bill have varying ideas on whether and how any extension should be offset. Isakson and Dodd said they are looking for offsets.“If we can find a pay-for, I’m all for it,” said Dodd.

Source: CQ Today Online News

I'm Baaaack....

2009-10-19T11:27:00.002-04:00

Goodness Gracious! I am back, refreshed and ready to go! Jake and I celebrated 10 years of marriage in the Dominican Republic. It was beautiful and relaxing, but definitely not the United States!

While I was gone real estate was hoppin'! Thank God that Beth and Marianne were able to continue to work and keep our group moving forward.

Because, we are swamped with catching up, I didn't want to leave you too awfully long without some interesting information.

Just before I left, I attend our Kernersville Economic Development Council meeting, with the Kernersville Chamber. The speaker presented great information on the 2008 Forsyth County Trends. I thought I would share the link with you.

http://www.cityofws.org/Home/Departments/Planning/NewInPlanning/Articles/WhatsNew

More great info to come from the Allen Tate Advance that I attended in Charleston, SC for the top 100 Tate agents in the Carolinas! Great info moving forward.

Mini-Farm in Lewisville...NEW LISTING!

2009-10-05T12:45:00.004-04:00

www.allentate.com/brookecashion/558186

Tranquil 4.98 acre tract with country cottage in Lewisville! Possibility to combine with other acreage tracts around the property that are currently for sale to make a large, working farm. Home is in great condition, has a deck, fenced area, trees, storage buildings and a ton of charm! Under tax value and priced to sell at $179,900! Check it out...

The Fountainhead...my latest EXCELLENT read...

2009-10-02T10:46:00.005-04:00

It's been awhile since I wrote anything on what I read...and for any of you who know me-I LOVE TO READ! My friends Beth and Dave turned me on to The Fountainhead by Ayn Rand, a couple of weeks ago. I won't go into an actual review and synopsis of the book, as I could go on forever on the varying themes and topics of interest. I would, however, encourage each of you to read this amazing work which is by the same author, who penned Atlas Shrugged.

Jake and I were talking about the book and came to the conclusion that what we liked most, is that she put into, amazing words, the thoughts and frustrations, that those concerned with mediocrity have felt. She speaks of "second-handers"--folks who glean ideas and prestige from society and have no thoughts of their own. Rand shows a world where the man that stands alone and works towards "greatness" is ostracized as a threat to the general good and where mediocrity is not only accepted but encouraged and propped up by the mainstream media-to use a modern term.

One of the statements from Wikipedia sums it up best.
("A world where the thought of each man will not be his own, but an attempt to guess the thought of his neighbor (...) Men will not work for money, but for prestige, the approval of their fellows - not judgment, but public polls") Toohey makes no mention of any overt dictatorship or coercive apparatus. Rather, Toohey's methods throughout the book suggest that such a regime might be able to retain the forms of democracy, multi-party elections and a free press, with actual power held by Toohey-like "informal advisers".

We see so many of our struggles today and the ridiculous nature of these ideals in the text of this book. One of my favorite pieces of dialogue in the book is one between Howard Roark (the protagonist) and Gail Wynand (tragic character with second-hander tendencies toward power) in which Roark has no interest in Wynand's propping him up financially or making social/political connections for him. Roark does not want a hand-out but goes on to say that he only wants the ability to see that success is possible, happiness and contentment are possible and that is enough to encourage his work and life.

As I said, I could go on and on, but don't want to bore you with my words when the author is so brilliant with her plots and verbiage. Anyone who is interested in the current state of our society, country and world should pick up this book and digest it's premises so that they can open their own eyes and minds to current situations, notions and trends--

The Fountainhead by Ayn Rand c. 1942

**If you have read this book, please post comments and future recommendations--I would love to hear from you**

Brooke

Fabulous New Listing for First-Time Buyers! Kernersville Under 150K!!

2009-09-27T20:22:00.005-04:00

Check out this great new listing at 431 Overbrook Meadow Court, Kernersville. Click on the link for 21 photo tour, specs and community info! Priced to sell at $145,000!!

www.allentate.com/BrookeCashion/557217

Mondays = Heart Attacks!...Courtesy of my 3rd Grader!

2009-09-21T13:54:00.004-04:00

1-A human being loses an average of 40-100 strands of hair a day.
2-A cough releases an explosive charge of air that moves at speeds up to 60 mph.
3-Every time you lick a stamp, you're consuming 1/10 of a calorie!
4-A sneeze can exceed the speed of 100 mph.
5-According to German researchers, the risk of a heart attack is higher on Monday than any other day of the week!
6-After spending hours working at a computer display, look at a blank piece of white paper. It will probably appear pink.
7-An average human scalp has 100,000 hairs.
8-If the average man never trimmed his beard, it would grow to nearly 30 feet long in his lifetime.
9-By age sixty, most people have lost half of their taste buds.
10-Humans shed about 600,00 particles of skin every hour or 1.5 pounds a year. By age 70 the average person will have lost 105 pounds of skin.

Popping Up Everywhere...It's That Season!

2009-09-14T12:05:00.006-04:00

It's that time again and yet it seems like just last Fall! I bet most of you haven't even noticed--not yet, anyway! A few smatterings of election signs have been popping up around the community. This year is a little slow to start given the fact that there are no major state or national elections to bring folks to the polls. Interestingly enough, it is the local decisions that have just as great an impact on your day to day life. Local elected officials decide the following:
*Property Tax Rates
*Schools, Road Maintenance, Police & Fire
*Trash and Recycling
*Car Tax/Fees
*Stormwater Fees
*Parks and Recreation-parks, trails, sidewalks, etc.
*Local Zoning--Not In My Backyard Issues
The list goes on and on...So, the moral of the story is that it is VERY important to take this time of year seriously and really make sure you know what the candidates REALLY stand for. Investigate how they stand on various issues...ASK THEM-READ THE NEWSPAPER, ATTEND THE CHAMBER HOSTED DEBATE, ETC...

All of the incumbents voting records are available online for you to review. Just because a candidate talks a certain way, has a sign that you like, runs in the same groups you do or looks a certain way, doesn't mean that they vote or represent you the way you would like.

PAY ATTENTION! This is a very easy thing to do and it could mean NEW JOBS, NEW BUSINESS, LOWER TAXES, BETTER ROADS depending on your vision for our community. If you need help finding any of this information or would like to talk further about local issues affecting our town/area, please feel free to post a question, email me or call...

**As stated before this information can be found on the Town of Kernersville's website--www.toknc.com which has recently been re-vamped to be user-friendly. The site looks great and is easy to navigate! Other county and communities info can also usually be found on their corresponding websites--**

Kernersville STILL Qualifies for USDA 100% Financing!!

2009-09-09T20:44:00.002-04:00

For those buyers out there who thought that the 100% financing was "gone with the wind"--think again! Kernersville still qualifies for USDA Government financing because of the rural status attached to it during the previous census. As the upcoming census gets underway, this opportunity could very well be limited, especially since the population projections put us outside of the definition of "rural". Price limits are based on income and number of dependant individuals in the home. Take advantage NOW if you are looking for a new home as Kernersville is one of very few areas in Forsyth county that qualify. If you are not working with an agent and want to talk about this program and how to find out if you are qualified, please give me a call or shoot me an email and I can put you in front of LOCAL KERNERSVILLE lenders who offer this program.

Thinking About Selling?--Wanna know if your home qualifies for USDA financing?--Contact me and I can help you to move forward capitalizing on this unique and limited program through marketing and positioning.

Just Curious? I have included a link, courtesy of LuAnn Davis at WR Starkey that allows you to search addresses to see if a particular property qualifies. Happy House Hunting!

Brooke

New Listing In Kernersville...$197,900!!

2009-09-08T14:19:00.003-04:00

See more photos and information at:

www.allentate.com/brookecashion/554820

4183 Shadetree Drive-Glen Village

AMAZING RATES!

2009-09-03T14:23:00.002-04:00

-This just in from Allen Tate mortgage! For all of you sitting on the fence regarding purchasing a home or for those of you waiting for prices to fall and great interest rates...NOW IS THE TIME! Keep in mind my previous blog posts regarding how much prices would have to fall as compared to interest rates going up as it relates to your monthly payment. For those of you who may not have seen that post, you can reference it or the basic premise is: Prices can dip another 15-20% but if the interest rates crept up 1% your payment would be the same! Take advantage of these awesome rates coupled with great pricing and inventory.

Give me a call or email and let's talk about what is out there...First-time buyers---Time is especially of the essence for you guys...you really need to be under contract in the next couple of weeks to take full advantage of inventory, condition of homes and not be bottle-necked in the last few weeks of November, while lenders are under the gun to close everyone out during Thanksgiving week!

Per Allen Tate's mortgage consultant Jennifer Tuttle:

Here is some valuable information for you. RATES ARE GREAT!!! See below for a list of Allen Tate Mortgage Rates and Programs. Rates are very low….at their lowest in several weeks. Please let me know if you have any questions or if I can be of assistance to your buyers. I would love the opportunity J

Conventional 4.875% Conventional 5/1 LIBOR ARM 3.750% This is NOT a typo…..Holy COW!!
FHA 5.125%
VA 5.125%
Jumbo 5.750% 90% LTV Most banks or other lending institutions are capped at 80 – 85%LTV on Jumbo loans

First Time Buyers Beware....Deadlines and Short Sales....

2009-09-02T11:36:00.002-04:00

As I have said before, I have several first-time buyers looking to close before the November 30 deadline. These folks have to be closed by this date in order to take advantage of the $8000 tax credit, unless it is extended. At this point, no one I am working with is taking the risk that it will.

Therefore, everyone is scrambling to find the perfect home, in their price range and condition. That being said, a good deal of buyers are finding homes that meet their needs, have prices that work for their budget, but as a result of varying circumstances, are in a short sale situation. Short sale, meaning that the seller has the home listed for less than they need to clear out the mortgages and other cost incurred by selling the home...hoping that the bank will take less for the home, rather than allow the home to go into foreclosure. This process can take quite some time. Which is why I blog today...

I am making a prediction that all of the buyers that are currently waiting on responses from banks regarding short sales are on the cusp of failing to meet their deadline to close. If solid responses are not gotten in the next few weeks, there is going to be a mad dash for those remaining properties (most of them being under $150,000) that are not short sales. Good for those new constructions and for other existing sellers, but not so good for the buyer. This is going to place them in a situation that we have not seen in quite some time...multiple offers. This does not give the buyer as much flexibility in price and terms if they are competing with other buyers just as anxious to cash in on the tax credit.

My advice is to get with your Realtor or get with a Realtor (preferably me) and discuss your options and strategy for the next month, so that you don't get bottle-necked into the end of November, which also coincides with Thanksgiving. As a buyer's representative, we are also including language to protect the buyer in the event this does happen.

Great time to buy, but buyers need to use their heads and make sure that they have all of the information available in order to expedite an uneventful and pleasurable buying experience!

Brooke