For ITIN Borrowers There Is Still Housing Opportunity...

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

Bats In Your Belfry?

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

Congratulations On Your New Arrival!

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!

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

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

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...

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

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

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

Feds Hedging on Extension of Tax Credit....

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

Mini-Farm in Lewisville...NEW LISTING!

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...

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

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

Kernersville STILL Qualifies for USDA 100% Financing!!

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!!

See more photos and information at:

www.allentate.com/brookecashion/554820

4183 Shadetree Drive-Glen Village

AMAZING RATES!

-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

Arts D'Vine Event in Downtown Kernersville This Weekend...

Much like the Salute! wine festival featured in an earlier blog post, downtown Kernersville is joining the act by featuring not only local NC wineries, but also local artists and musicians. Unlike, Salute! this event is FREE and open to everyone. This unique event is a first for Kernersville and is an effort to draw residents and visitors to the downtown area who may not be familiar with what downtown Kernersville has to offer. After the recent 1.3 million dollar renovation, there will be plenty to enjoy!

The event will consist of businesses that will open their doors to local artists and wineries. Scattered throughout the event will be varying musical acts including The Chris Lane Band which seems to have a pretty decent following based on the crowd at Indigo Joe's a little over a month ago. There will be some sort of indicators on the participating businesses so make sure that you don't stay in one spot too long though the temptation will certainly be there!

My suggestion would be to arrive right at the beginning of the event, scope out some various vendors and then settle in to one of the more central locations for some music and some good 'ol fashioned people watching.

So I look forward to seeing you THIS FRIDAY, JUNE 6 from 5-8 in downtown Kernersville!

Cheers!

Brooke