Tuesday, October 17, 2017

What is one of the largest economic events in NC each year?

The High Point Market is in high gear this week.  This is one of the largest economic events in North Carolina each year and has been for a number of years.

In 2013, Duke University conducted an economic study on the furniture market...from the report, the authors said:

"Overall, this report indicates that the High Point Market has a significant economic and fiscal impact on the 30 county study region of North Carolina and south central Virginia. Overall, the Market generates over $5.39 billion in total economic output across all types of activities modeled here, including visitor spending, direct HPMA budget, vendor spending, sales of furnishings and rental income. The Market supports a total of 37,616 jobs across all the industry sectors stimulated. Of the total of 21,461 direct jobs created by Market related activities, the largest share accrues to manufacturing and related sectors (i.e. distribution, accessories). These are jobs supported due to sales of furniture and related accessories that can be directly tied to transactions made at the Market."
 
To celebrate the furniture market, we ran across this article...Tips for Decorating Rooms That Are Long and Narrow - it has some good ideas that we get questions regularly about.

Here is some more information concerning the High Point Furniture Market - it is an impressive event twice per year.

We get a lot of questions about interior design..happy to share with you folks we know who are really good at it if you have interest.

Thanks!


Friday, October 13, 2017

"Everything you wanted to know about closing cost"

When we put a property under contract, we often receive questions about closing cost.  This article gives a good summary so we thought we'd share as well.  Let us know if you want to dive deeper!  
"When you’re buying a home there’s tons of new terms and processes you’ll be learning as you go, so it’s likely that upon hearing your Realtor utter the words “closing costs” for the first time, they went in one ear and out the other. And if that’s the case, don’t feel bad; suffice it to say, you’re not alone— a survey released last week found that over half of all first-time home buyers were surprised by the closing costs required to close on their soon-to-be home. Keep reading and you won’t be able to claim ignorance the next time these words find their way into a conversation. 
Closing costs: Explained
I won’t waste any time beating around the bush here— closing costs range anywhere from 2-5% of your home’s total purchase price. For a home priced at $250,000, you could be on the line for $5,000 to $12,500, come closing time. Ouuuch. Double ouch if you had no idea closing costs existed.
Here are some examples of the most common items that make up your closing costs:
Title fees – Title fees cover a title search fee and title insurance fee, to guarantee that the property has a clear title with no liens or issues and that the title can be transferred from the seller to the buyer. Title fees also include recording the deed at the courthouse and notary fees.
Attorney fees – Attorney fees include the attorney’s time and expertise to review closing documents and oversee the closing process.
Pre-paids and escrow – This includes pro-rated property taxes and homeowner insurance premiums to insure there are no gaps in coverage. This may also include pro-rated mortgage interest to cover the gap between when you close and when you make your first mortgage payment, as well as an initial deposit of funds (escrow) for any tax or insurance bills that will need to be paid by your lender soon after closing.
Mortgage insurance – Certain loan programs (usually those that allow a down payment of less than 20 percent) require private mortgage insurance (PMI). This provides protection for the lender in the event you would foreclose on the property.
Lender fees – These are fees paid to your lender and include loan origination fees, application fee, processing fee, credit report fee and any discount points you want to pay to get a lower interest rate.
Property-related fees – Appraisal and inspection fees are included in this category, and are generally paid directly outside of closing. You may also need a survey to confirm property lines, and specialized inspections (termite or structural) depending on property and loan type.
Other – In some cases, closing costs may include a transfer tax (foreclosure, short sale or new construction purchase), additional appraisals (home to be used as a rental property), final inspection (new construction) and specialized underwriting review (condominium purchase). 
Whew! No wonder closing costs are a chunk of change—everybody and anybody involved in the purchase of your new home gets paid when you close. To be on the safe side, go ahead and budget about 5% of the purchase price of your home towards closing costs. You’ll receive a more concrete figure of just how much you’ll need to write a check for in the form of a loan estimate document.  Then, about three days before you actually close, you’ll receive a closing disclosure statement which gives you the exact amount of closing costs. Compare this document with your loan estimate and contact your Realtor immediately if you have any questions or notice discrepancies.
Can I avoid closing costs?
As a first-time buyer, you’re on the hook for a lot of cash— the down payment, moving expenses, new furniture, and now, closing costs. So it’s no surprise that you may be wondering if you can wiggle your way out of them. Here’s your answer: Yes and no.
Yes, you may be able to get out of closing costs in a buyer’s market. Often times sellers are highly motivated to get you in their home in a high inventory, low demand market, so they’ll gladly pay your closing costs. It’s a whole different ballgame in a seller’s market though— so be prepared to pay your closing costs if you buy while demand is high and inventory is low.
You can also lump your closing costs into your loan or consider a loan with a higher interest rate that allows for your lender to issue you a credit to cover your closing fees. Talk with your lender to uncover your full list of options."

Ashley Bryant
ASHLEY BRYANT
Ashley Bryant is a writer covering all things real estate. She resides in Charlotte, NC

Wednesday, October 11, 2017

Kernersville Chamber's Corks' ncandidates invite

As you may know, November 7 is Election Day in North Carolina.  There are a number of state and local races, including the Town of Kernersville.  Citizens in Kernersville will be voting for five alderman to  lead the town for the next two years.  

In 2004, I was a Town of Kernersville Alderman and served two terms.  It was a once-in-a-lifetime experience that I will always treasure.  I participated in a couple of these types events and I would highly encourage you to go and learn about the candidates, talk to them and figure out which ones have the best ideas on how to grow our local economy, protect private property rights and to lead the town through important decisions.  

For more information on Election Day and voting, please visit NC State Board of Elections - as well, if you are not registered to vote, this site can help you do that.  

Information concerning the Corks' nCandidates is below.  I hope you will make it a point to add it to your calendar and attend.  Jake, Maddie and I will be there and hope to see you as well!


Thursday, October 05, 2017

Special Thanks to My Clients for Their Role in Making the Economy Work!


Real Estate and Transportation - How Will Impact You?

All of us enjoy or dread the different modes of the transportation network across NC and the US.  We all rely upon the network in some way, shape or form...most importantly, it allows us to eat on a daily basis.

But as technology advancements continue to change our world, how will these advancements impact your property and real estate?

This week, we've seen a number of news articles concerning electric vehicles, large retail companies buying last-mile transportation and logistics companies and an overview about the future of NC's transportation network and challenges.

We thought we'd briefly summarize and share these stories with you.  They are pretty interesting and provide thought provoking ideas about what the future holds and needs.  Take a look.

We'd be interested in your feedback...

Electric Vehicles are Forcing Real Estate to Change Gears - "Analysts predict that within a few years, electric cars will cost about the same or less than their gas-powered cousins, and electric vehicle (EV) sales are expected to surge. Though range could still be an issue for some drivers, EVs do have one major advantage: you can charge them at home. No more side trips to the gas station, no more waiting in line, no more pumping gas in the rain, sleet, snow or gloom of night.
In fact, surveys show that most EV owners prefer to charge in the comfort of their own homes, where they can go about their lives while their vehicle quietly juices up.
To sweeten the pot, some states and utility companies offer tax incentives and rebates that apply to charging at home..."
Wal-Mart Buys Delivery Logistics Start-up Parcel "We plan to leverage Parcel for last mile delivery to customers in New York City – including same-day delivery – for both general merchandise as well as fresh and frozen groceries from Walmart and Jet," Wal-Mart said in a blog post. bit.ly/2wv4iV7
The Future of Transportation - NCDOT Sec Jim Trogdon - At the state level, the North Carolina General Assembly is taking a deep dive into these issues as well.  The House Select Committee on Strategic Transportation Planning and Long Term Funding Solutions had a presentation this week from Sec Trogdon.  If you review the summary on slide 15, all of the technological changes will impact real estate.  


Wednesday, October 04, 2017

What Is Going On With Mortgage Markets and Can I Get a Loan?

For most people when, buying a home they will start with the mortgage loan process.  This can be a confusing, challenging and yes, sometimes a frustrating experience.  However, we do our best to mitigate the frustrations and maximize the enjoyment of the process.  

We get questions everyday relating to what mortgage rates are doing and what types of loan programs they're currently able to take advantage of to the luxury marketplace and jumbo loans.  We love getting these questions and providing you the answers to these and other questions.  Therefore, in the following posts - four short clips - we work to answer these and a few others that you will be interested in.

We want to thank Tina Shields, Allen Tate Mortgage for taking a few minutes out of her very busy day to help.    We appreciate you Tina!  

What are mortgage rates going to do?

Why is is important to talk to more than one lender?



What type of loan products are there for the luxury markets?




Could I buy a home without a huge downpayment?




Tuesday, October 03, 2017

Life Insurance...Are You Covered

"Life insurance. Yeah, your eyes glaze over and you start checking your Instagram just at the mention of it. But keep your attention here for just a few moments and I promise it won’t be painful. Life insurance is something that takes care of your loved ones, plain and simple. And that’s something we can all make a little time for, isn’t it?
And actually, according to the 2016 Insurance Barometer Study by Life Happens and LIMRA, 1 in 3 households would have immediate trouble paying living expenses if the primary wage earner died. And, the study also found that 40% of respondents had not bought life insurance or more of it because they were unsure of how much or what type to buy.
Since September [was] is also Life Insurance Awareness month, it seemed like a good time to talk to..."  Read more at A Discussion about Life Insurance.
Also, if you need ideas and suggestions on experts to speak with, we know several really good folks who would be more than delighted to help.
Thanks!


Monday, October 02, 2017

Square Footage Price - Why it Matters?

Good morning - we were looking at a market report and some numbers this morning from Inman-Weiss Analytics.  It is a great tool we use to better understand the marketplace, both from a national perspective and a local/micro-marktet perspective.

We pulled up the Winston-Salem MSA and its average price/square foot jumped out - currently it is around $92 and could see an increase moving into next year according to the data.  That's good news for sellers, so now would be a great time for buyers to jump into the marketplace.  But keep in mind, that this is just an average and micro-markets are different and lots of things go into this.

In this short VLOG, Brooke breaks down why it matters and how micro-markets and other factors impact the price/square foot. take a look!






Friday, September 29, 2017

Local Market Update -

Just a quick local market update - take a peek - as always, let us know if we can help!


Thursday, September 28, 2017

"Who is Returning to the Workforce?"

Great news from NCSU's Economist Mike Walden -
“....‘Who is returning to the work force?’ Mike, one of the good news items in the economy recently has been the rise in the labor force participation rate. This rate measures the share of working age individuals who either have a job or are looking for a job. Do we know who is responsible for the improvement in the labor force participation rate?”
MIKE WALDEN:
“We do. If we look at the data, and the simple answer is women...."


Wednesday, September 27, 2017

Buyers are looking...are you interested?

Buyers are looking...You interested?  As new data from the National Association of Realtors tells us, the housing market could be cooling simply because of a lack of inventory.

In this article, Inventory Woes Drain Momentum, the chief economist for the Realtors, Lawrence Yun says, “Demand continues to overwhelm supply in most of the country, and as a result, many would-be buyers from earlier in the year are still in the market for a home, while others have perhaps decided to temporarily postpone their search.” This is accurate for our area as well.  However, he continues on to say, “The good news is that nearly all of the missed closings for the remainder of the year will likely show up in 2018, with existing sales forecast to rise 6.9 percent.

Let me know if you are interested selling.  Now would be a great time and I'd be happy to discuss the pros and cons.  

Thanks - 

Brooke Cashion

@WSRAR Young Professionals Network

Take a look at the clip regarding an event we were at...great time!



Kernersville Foundation and the opiod crisis...

We appreciated the opportunity of going to the Kernersville Foundation meeting this morning on the opiod crisis that is ravaging the nation. A great panel discussion was had and really highlighted the issue in Forsyth County. It is something that must be dealt with and quickly as it can impact anyone. If you have the chance, make sure to watch WXII 12 NEWS between 4:00 and 6:00 today as Maddie was interviewed about the panel discussion. She shares her thoughts about how it impacts those in high school. (We'll post the link as soon as it goes up.)
As well, the great NC State Senator Joyce Krawiec presented a $100,000 check to the Kernersville Foundation from the state which will help many people and organizations in the area - thanks taxpayers of NC and Senator Krawiec for your service.
Finally, this was extremely impressive but a 10 year old girl presented the Kernersville Foundation with a check of $2200. The money was raised via a group she founded for "kidpreneurers" - this little girl was extremely impressive...Kim Herman you should be proud!
Enjoy your day!


 

Monday, September 25, 2017

Realtor.com updates?

Good Monday afternoon!  As you know, the internet has become a place where most people begin their move - from a home or to a home.  Because of that many resources are available to the buyer or seller, including, finding the most professional and experienced agents.

I've been in the business for years and have seen things change dramatically over time with the advancement of technologies.  While you cannot be all things to all people, we do want to work to stay relevant on the internet.  Because of this, we felt like it was important to update my Realtor.com profile.

I've chosen to do this as it's the most trusted resource and it's simple, efficient and enjoyable to use.  As well, it is licensed by the National Association of REALTORS, the country's most important real estate organization.

The internet has given small businesses a great opportunity to grow and expand and that is exactly what we are working on.  But more importantly, it will provide us an even greater way to serve our clients, which is what we do best.

But we need your help in order to do that.

Would you take a moment to go to realtor.com and leave me a recommendation?  It simple, just go to realtor.com - Find REALTORS - type in Brooke Cashion and go to ratings or recommendations.

We would most appreciate a positive one of course if you find that acceptable!  Thank you in advance.

Jake Cashion

Thursday, September 21, 2017

North Carolina Leading the Way...

After many years of a state tax system that did not work for the people of North Carolina, starting a few years ago, reforms were put into place that were designed to improve the economy and attract greater economic growth opportunities by simplifying and reducing rates.

While I was at the NC Chamber, I was fortunate to have been involved, in a small way, with the discussions by encouraging continued action and connecting some very smart tax experts at really strong companies statewide, both large and small businesses to those decision-makers.  It was a great experience.

North Carolina is leading the way nationwide.  Check out what US Senator Thom Tillis has to say about it.

Tax Reform Transformed North Carolina - Congress Take Note

Thanks - Jake Cashion

Wednesday, September 20, 2017

Troops To Trades

There is a lot of discussion going on in this state and many others about students learning trades as an alternative to a traditional college degree. In a chance meeting at the Grove Park, Jake and I struck up a conversation with a gentleman from Minnesota who was telling us about a charitable organization that he started several years ago.  He had just come from a fundraiser in DC, where they raised over $250,000 for the organization Troops To Trades. 

As the NC Chamber tells us in Closing the Skills Gap  , "For communities across North Carolina, attracting, training and retaining workforce is a top concern. North Carolina’s job creators continue to face a significant disconnect between their talent needs and the real-life skillsets possessed by graduates. Both specific skill shortages and soft skill barriers are constant themes of the discussion. Even as unemployment numbers improve, employers across the state continue to struggle filling open positions with qualified talent.The Department of Commerce’s Labor and Economic Analysis Division recently released its 2016 Employer Needs Survey. After collecting 1,900 surveys, more than a third of businesses surveyed expressed difficulty in filling positions. Finding candidates with the right work experience, education and technical skills were the top reasons cited. Businesses in construction and manufacturing expressed the most difficulty. The survey also found that these difficulties were true in both urban and rural parts of the state."


This organization called Troops To Trades has a basic premise that connects work with veterans and puts them through training to work in trades such as HVAC, plumbing and other important skilled trades.  They organize the apprenticeships and help them to work the trade schools and their GI bill to supplement income while training and apprenticing, making it viable to actually live on the wage earned while learning.  The contacts in the organization are well-versed in assisting the veterans with placing them in trades that don’t conflict with a physical disability, help them with obtaining the certification, job placement and much more. 

These are folks/businesses dedicated to not only serving the veteran but also helping our economy while providing skilled laborers for jobs that are unable to be filled easily.  

I love when folks use their connections and resources to meet multiple needs. Check out the website and share with a veteran or a business-owner you know, who might like to be  a part of this organization!  Well done Troops To Trades!

Tuesday, September 19, 2017

Are you aware of this potential HUGE expense?

What could be hiding on your property that could potentially cost you $20,000?  In this short clip, Brooke explains what you should know.  As alway, feel free to call with questions.  #whywait




Monday, September 18, 2017

Do you as a seller need to....


As a seller, my home is under contract and scheduled to close, however, I no longer live in the area.  Do I need to come back to town to be at the closing?  Take a peek at the short clip for the answer!

Thanks - as always, happy to help!  



Thursday, September 14, 2017

Moana in the Park!http://kvparks.com/event/movies-in-the-park-moana/


On Friday, September 15 from 6:00 - 9:00PM at Harmon Park in downtown Kernersville, the Kernersville Parks and Recreation will hold a FREE family event.  Bring your family, friends and chairs and enjoy the movie Moana under the stars.  The movie will begin at dusk so please plan to come and enjoy!  I'm a sponsor and there will be glow sticks for the kids.



More details can be found at:  Moana in the Park - Kernersville Parks and Rec


Hope you'll be able to make it!







Wednesday, September 13, 2017

"Moving at the Speed of Business"

One thing we often take for granted is the transportation network that allows us to go to and fro in our everyday lives.  It is easy to simply think it'll always be there.

My name is Jake Cashion (husband to Brooke) and I'm now a partner with Brooke Cashion and Associates.  I had an awesome experience over the past 6+ years with the NC Chamber.  I had the good fortune of working to get money into the transportation network of North Carolina  Thankfully,  because of the efforts of organizations like the NC Chamber, the Winston-Salem Chamber of Commerce and others, including the North Carolina General Assembly and NCDOT, there is a lot of work going on in the Triad - to the tune of $2 billion worth of projects.

We don't really think about moving freight and commerce as it relates to real estate.  But frankly, we don't move anything, including real estate without a strong transportation network.  Take a peek at a publication the NC Chamber put together called "Moving at the Speed of Business"...you may even recognize a name of someone who contributed to this!  I'd be interested in your thoughts as all of these infrastructure issues discussed impact real estate.

Read up on the projects that will impact you and your business...for example, against many people's belief, the Port of NC at Wilmington can now handle post-panamax size ships adding greater connectivity to Asia, Europe and the global economy.  North Carolina's and the Triad's economic growth opportunities are expanding because of efforts like this.  This is great news for real estate!


Tuesday, September 12, 2017

Hurricanes and flooding...

Here is a pretty good overview of what homeowners insurance will not cover if you are unfortunately
hit by a hurricane.  While this is a news story, I would simply check with my homeowners insurance company about what your actual policy says.  Always good to know and have the appropriate coverage!

What Homeowners Insurance Won't Cover if a Hurricane Hits - WSJ

New Report Shows Going FSBO Cost More Money

In this new report, these expert economist show that going-it-alone will cost you more money.  Check out this report. We'd be happy to discuss our experiences as well.

"Saving Real Estate Commissions at Any Price"

"Here we examine the price differentials for homes sold through traditional agents through the multiple listing service compared to “For-Sale-By-Owner” sales for a variety of geographic markets with data from 2016-2017.  In contrast to previous studies on this topic, we find that FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate...."

Monday, September 11, 2017

What does "due diligence" mean for NC real estate sellers?

We often receive questions from clients about "what now?" How do we move forward and what should we be doing?  Take a "peek" at this short vlog about how a seller should handle due diligence.  As always, make sure to reach out should you have additional questions.

Due Diligence for Sellers - YouTube




Thursday, September 07, 2017

Hurricanes and the Economy - What's New?



It has been a few months since I have updated the internet world about all things real estate. Things have been very busy since the last post in March! Thankfully, with the help of referrals, friends, family and others, Brooke Cashion and Associates has closed tens of millions in sales since then and I thank you all for your support!


As you are aware, this is shaping up to be a busy hurricane season.  I send my best wishes to all those involved in the Hurricane Harvey storm.  That is a tough situation to see and for them to experience and I send my continued prayers to all of them.  As well, we now are dealing with Hurricane Irma.  The news reports are terrible and I have a very close friend who lives in Puerto Rico but I understand she and her family are ok, thankfully.  I also have friends and family in Florida and I ask for prayers for their safety as they will likely be next for Irma as it then makes its way up the East Coast and if news reports are correct, the Triad of North Carolina could be in her sights.  Therefore, I hope you take some time to prepare.  Here is a comprehensive hurricane preparedness list from the American Red Cross - https://www.redcross.org/images/MEDIA_CustomProductCatalog/m4340160_Hurricane.pdf.  Stay safe out there!

The real estate market has been very good across North Carolina and the Triad area.  Economic and population growth is helping to drive the positive momentum.  We would like to see more job growth like Raleigh and Charlotte, but that will come as the economy continues to grow and our political and economic leaders dig in.  However, we still have low property inventory which is causing us to be in multiple offer situations and quick sales as long as property is priced right and is in good shape.  While quick sales may be good thing currently, inventory really needs to pick up to continue with a strong real estate environment.  If you are looking to sell, now is a great time - send me an email or give me a call.  

I’d like to take a moment to update you on an exciting opportunity that Brooke Cashion and Associates is embarking upon.  I’ve been able to encourage my husband, Jake, into joining me back in the “family business”.  Until recently, Jake was the Director of Government Affairs for the NC Chamber, the state’s largest, broad-based business organization.  It was an awesome job for him where he experienced operating at the highest levels of state government.   He had many successes including leading the changes to the UI Reforms which lead to a $3 billion reduction of debt to the federal government.  He led transportation reforms which is helping to put $2+ billion into the Triad’s transportation network and billions statewide, worked on many tort reforms, tax reforms and numerous other issues that helped position NC to a top-tier state.  However, after much consideration he determined that a future with Brooke Cashion and Associates was the best option for the future of the business and our family.  With his background, he’ll be able to add a ton of experience which will benefit YOU, my client. Some of you may recall that we owned our own firm approximately 10 years ago, until selling it to Allen Tate; so this is certainly not our “first-rodeo” as far as working together. :)

Amy Norman, my rock of an Office Manager, is still keeping things in order and moving along. She is simply awesome. Jake’s role will be to build out our infrastructure and create additional value for you, my clients.  With this addition to the team we look forward to guaranteeing a more fruitful and hopefully prosperous experience for YOU! 

Thank you again for your support.  I send my prayers to those who have been or may be impacted to Hurricanes Harvey and Irma.

PS - I’ve got some great new Brooke Cashion and Associates’ koozies and would love to give you one.  Just ask and it’s yours!

Tuesday, March 14, 2017

Lunch with Leaders...

This past week the Kernersville Chamber of Commerce hosted it's monthly Lunch with Leaders event featuring Curtis Swisher, Town Manager of Kernersville and Dudley Watts, Forsyth County Manager.  Quite a bit of interesting and exciting information was exchanged starting with Curtis and some of the work the Board of Aldermen have been undertaking as it relates to land and building acquisition.

Future buildings that the town is currently building will update and/or replace buildings and facilities built in the 1960s.  The town is in the process of finishing out the new Public Services building which houses the transportation department along with engineering and other Kernersville public services.  The cost of this project is 5.7 million.

The town recently acquired the old School Tools building on the corner of Mountain and Main and is in the process of asbestos abatement before being torn completely down and re-visioned into a park.  You may have noticed the old Amoco station on the corner of Cherry and Mountain also recently gone.  This will free up the land for potential additional parking for downtown and the Kernersville Museum which is adjacent to the site.

The land beside of Korner's Folly was also acquired by the town in conjunction with the Folly.  This was the lot where high-end townhouses had been approved approximately 10 years ago.  Once this project fell apart, the land remained on the market. Upon further investigation, the town and the Folly felt that this was an opportunity to expand the Folly both in parking and potentially in facility, should the money allow.

Firestation #42 that is currently on Industrial Park will be moved into a NEW facility on the land across the street from OutWest Steakhouse. This land was formerly occupied by a modular home company that has been gone for a number of years.  The cost of this project will be 6.2 million and will continue to improve upon response times and insurance ratings.

Both Curtis and Dudley spoke about the new Kernersville Library which should be completed by 2018.  The current library, which is in a town-owned building is a part of the 2010 Library Bond and will be newly constructed off of Harmon and Broad, behind the Bank of NC.
Anyone with interest in following the bond dispersion can go to www.forsyth.cc/bondtracker