Wednesday, December 11, 2019

In Search of....

We work everyday to "move" our client's property or to advise them through the real estate buying process and advising them on finding that perfect place.  We work hard to fulfill the path of real estate ownership which is part of our mission at #BCA.

Today, we are in search of properties in a certain price point and have buyers who are in need of finding that perfect place.  We need properties between the $150,000 and $400,000 price point.  If you know of anyone that has even thought about or would be interested in selling their property, please let us know asap.  We would be happy to contact them and simply have a conversation about the market place or they can reach out directly - NO OBLIGATION.

Thank you for your help.  We really appreciate it!





Thursday, October 31, 2019

Wire Fraud...When Serious Details Matter...

Most people don't think it could or would happen to them.  But wire fraud is one of the fastest growing cybercrime in the US and real estate. 

What is wire fraud?  Investopedia defines it as a "crime in which a person concocts a scheme to defraud or obtain money based on false representation or promises" and "is a crime in which a person schemes to defraud or obtain money using electronic communications or an interstate communications facility."  The is what happens in a real estate transaction.

There is an ever increasing number of closings where buyers get to the closing table and realize that the monies needed for settlement have disappeared.  Somehow, someway, scammers received control of their bank accounts through phishing.

These scammers disguise themselves as the client attorney or agent and send the "wiring instructions".  The client assumes that this is accurate information as it looks official and goes ahead and wires the money.The problem is they just had their money stolen from them which can start a chain of events that can leave them in a bad spot financially and potentially legally.

Don't let this happen to you.  Here are a few ways to protect yourself.
  • Educate yourself and make sure your Realtor and closing attorney are educated on wire fraud. Simply, learn the dangers!
  • Verify funds and transfer instruction with the financial institution.  Make sure you are talking to your financial institution and keeping them updated on the purchasing of a property and that you'll be wiring the funds at time of closing.
  • Verify the correct wiring instructions with the closing attorney in a secure manner
  • NEVER use a public wi-fi to make the transfer
  • Pay attention to any red flags that may appear like receiving a phone call from someone that you do know and them giving you the wiring instructions.  
  • Be suspicious and on-guard and contact the financial institution immediately if something happens.
  • Talk to your Realtor or closing attorney about how to mitigate the wire fraud risk in your transaction.
Recently, we were at a closing with a client.  The closing was smooth and without issue but one thing we learned and haven't seen it much is the attorney communicated with the client directly (not the paralegal or office staff, but the attorney) and gave them detailed wiring instructions.  This helped to mitigate any risk in the process.  It is a simple but effective risk mitigation strategy and we appreciated this attorney's diligence in protecting the client.  

The National Association of Realtors is very much engaged in working to solve some of these problems.  They are currently working on a wire fraud and money laundering toolkit that other Realtors, consumers and anyone involved in the real estate transaction should and could learn from.  We'll be sure to share once complete.  

In the meantime, we are not attorney's, however our goal is to protect our clients in this important property-buying process.  If you have any questions we are happy to help get those answered and get you in your dream home without issues.  Let’s make sure you're protected!

Wednesday, September 11, 2019

Congrats Daphne and Welcome Jill!

Will you join us in a congrats and a welcome?
Today, we want congratulate and announce that our most recent office manager, Daphne Moore has decided to become a full time REALTOR. We are proud of Daphne and her work for our clients and the BCA team as she has been a great addition since early 2019 and will continue to be an awesome BCA team member as she makes this transition. Don't hesitate to contact her should you need consulting - the reviews she receives are awesome! 
Additionally, we are welcoming our new Office Manager, Jill Petras.  Jill has jumped right in, learning our systems, process and procedures and has a great positive attitude that is contagious. She'll be a great addition to the BCA team and will be fantastic in client services, details, and day-to-day implementation! 
Please join us in a hearty congrats and great welcome to Daphne and Jill!

Daphne Moore - Daphne.moore@allentate.com



Jill Petras - Jill.petras@allentate.com



Wednesday, September 04, 2019

Local Economic Impact?

We had a great time hosting a coffee  at one of our favorite coffee spots - Local Roots Coffee Bar & General Store. It was a great discussion with about 12-15 local business leaders from different industries about how the national economy could or is impacting our regional and local economy and how best to start planning moving into 2020. 
Most folks were still pretty upbeat about where things are. Couple quick takeaways:
  • growing demand by millennials and other buyers for real estate
  • still tight real estate inventory
  • car buying is still hot
  • seeing growth start some cresting with some global manufacturing
  • Northern Guilford - Northern Forsyth and Stokes could become a growth area
  • Inverted Yield Curve has about an 18 month lag
  • US economy still strong and global investments still being made even though our interest rates are higher than other parts of the developed world
  • big driver to growth is labor - companies go where labor market is good.
  • regionalism is not just WS, Greensboro, HP, Kernersville but Charlotte to Raleigh corridor...thats where big industry looks not just the "triad" region
  • 2020 recession outlook - if one, should be short and shallow and driven by trade issues with China and slowing global markets

We appreciate the following business leaders for joining us: 
  • Kevin Bugg - State Farm Agent
  • Beth Wiles Potts-PNG
  • Joey Herman-Epes
  • Pillar To Post Steve
  • Mr. David Neugent-Merrill Lynch 
  • Heather Bowers Cross-Fidelity
  • TOK Alderman Jenny Ingram Fulton
  • LuAnn Davis Kernersville Mortgage Loan Officer NMLS 113055
  • Mike Fogleman-Deere-Hitachi
  • Dana Caudill JonesCaudill’s
  • Jason Grubbs- Coltrane Grubbs Orenstein, PLLC
  • Jonathan Smith-Davidson Craven Capital
  • Brooke Cashion
  • Lisa Chrystie - Brooke Cashion and Associates
  • Daphne Moore - Brooke Cashion and Associates
  • Jill Petras - Brooke Cashion and Associates




Tuesday, July 23, 2019

Is it for Everyone?

Recently, we were on a small weekend getaway at a great bed and breakfast in Southport, NC called the Robert Ruark Inn.  It is a fantastic place to stay and with the booking comes a wonderful breakfast.

While at breakfast, we met two other couples.  Both were from NC and were very neat people.  Throughout breakfast and small talk, one couple asked about the professions of others at the table.  A few minutes later, it was time for one of the three couples to leave so we were sitting at the breakfast table with a nice young couple from Raleigh, NC.   He was a native of Paris, France and had moved to NC to marry his wife, a neat lady who works in the pharmaceutical industry.

We could tell she wanted to ask a question.  She said, "May I ask you a real estate question?"  Of course!  She said, "we rent a home and we do not know if we want to buy or not...what do you think?"

It is a great question, isn't it?  We're sure the same thought has crossed many people's mind.  So we turned the question back to her and said, "That's up to you...do you want to use this investment to build wealth? Or do you want to give your hard-earned money to someone else so they can build their wealth? According to Lawrence Yun, the Chief Economist for the National Association of Realtors, this question is a no-brainer!  Between 2000-2018, those who became homeowners saw their net worth grow tremendously verse those who rented.

At the end of this short conversation, she said that several points were brought up that she had not thought of before.  We know and love real estate and believe it is a great tool to build wealth.  We think that she may be in the market to purchase real estate now.

**Disclaimer - some may not be able to purchase real estate at this point in their lives.  That's ok too. But it is important know that ownership is a wealth builder and a great step forward in the American Dream**



Wednesday, July 10, 2019

Top Three Issues....

So often we hear about how awesome the current real estate market is.  Currently, it is strong, stable, affordable and very active--which is great.  Our experienced BCA team of full-time Realtors meets weekly to discuss topics and provide insights in order make sure we are all on the same page. This includes working together and communication, addressing any process/operational issues and simply making sure we are all aligned for the same purpose.  We recently were talking about the current top three issues impacting our clients and the transaction and thought we'd share them here with you.  

1.  Unreasonable Buyer Request - we are in a tight market, one that still favors sellers.  However, every now and then we'll see buyer requests that seem to question the sincerity of their desire to purchase the home. Don’t get us wrong, asking for items to be repaired is not a bad thing. However, in NC when you are signing a contract you are agreeing to take the property in as-is condition. Sometimes that happens, sometimes it does not. Our state Realtors association has worked to have thorough disclosures up front but sometimes things aren’t discovered until a home inspector lays eyes on the house.  We are talking about sending a request that simply reads “see attached inspection report” and requests every item on the report with no thought or plan to accomplish the main items of concern. This act can set the tone of the transaction and actually prevent buyers from obtaining critical repair items.  We would question a buyer’s need to own a home if they can’t change a light bulb or tighten a door knob.

2.  Agents waiting until the last minute on due diligence request - this is very important!  The Due Diligence process is there to work through any issues that may arise through the transaction process and is highly important for the successful closing of a property.  We are seeing more and more folks waiting to the very last minute on request which can delay closing, cost time and money and is very disruptive to the process.  Don't wait until the last minute.

3.  Lack of Showing Feedback - when most people list their homes, they would like to know how a showing went.  Think about it...if you had your home listed and a showing occurred, would you not be interested to hear what the potential buyer thought? Someone has been in your home with their agent and the agent can’t find 2 minutes between Facebook and Insta posts to say how it went? As your listing Realtor, we make three requests for feedback via email over the course of 3 days and if we still have not obtained it we call and text the agent. Believe it or not, we still don’t receive feedback over 1/4 of the time. As far as providing feedback when we show, we would say we provide feedback 99.9% of the time and that ..01 we am leaving in there for the “human element” of potentially overlooking the request. Please make sure to inform your agent about how you truly feel about the house and encourage them to share it with the agent that has it listed.  It is simple communications that can help both parties.  

Thankfully, most transactions go smoothly, however, each one is different and carries their own directions.  But being able to head off some of the issues upfront helps.  So as human beings and as professional REALTORS we subscribe to the Golden Rule...."do unto others as you would have them do unto you.”