It's Just One of Those...

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

10 Years....

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.

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

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

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

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!

When Details Matter...

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

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

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!

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

Great Buy in Abington! www.BrookeCashion.com/522800

Housing Numbers Looking Up....

For the past four months the number of residential real estate transactions have been up! Great news for sellers and buyers alike. Still looks to be a great market for first time home buyers with the average price during this period around 130K. Not an indication of falling home prices but of entry-level buyers finally putting their heads around the low interest rates, $8000 tax credit, tons of homes to choose from and the "traditional" Spring market (though maybe a little later than usual.)

Other bonuses added by companies like Allen Tate that are sweetening the deal are Job Loss Protection, one year home warranties, rate buy down, etc.

This being said, the Winston-Salem Association of Realtor's press release on May 26th, indicated that these numbers are a sign that we are "getting back to more normal home buying patterns in our community." Sounds great!

What this means for you, whether looking to buy or sell OR if you know someone who does....is that they need an experienced, full-time agent who understands the opportunity and is willing to commit the time needed to appropriately serve their needs--guess who you could recommend? Yep, you got it! Brooke Cashion and Associates...www.BrookeCashion.com

Thanks guys for ALL of your support so far this year!

Brooke

Job Loss Protection for Real Estate....

Out of our office meeting this morning, Allen Tate unveiled two great new products exclusive to Tate buyers and sellers...the details are limited other than the concept, because training is mandatory in order to offer the job protection program.

That's right, following in the auto industry's successes with job loss prevention programs, Allen Tate is working in conjunction with Rainy Day Foundation to provide our sellers with an additional, unique marketing tool. The program is not an insurance policy but a non-profit organization that provides up to 6 months of mortgage payments in an amount up to $1800 per month. The coverage is for the buyer and good up to 24 months after purchase. There are certain conditions for the buyer to qualify but this particular organization has some of the simplest criteria to qualify. This product is paid for by the seller at closing and will cover primary residences, 2nd homes and single family investment property! Wow!

Some of the buyer criteria to qualify:


*Must be employed at closing--duh!
*Must be full-time--30 hours or more per week
*Cannot be self-employed or active military
*Cannot own more than 10% of the business that you are employed at
*Have to be ages 18-66
*Must be eligible for state unemployment benefits
* Only Allen Tate listings are eligible
*Other terms and conditions as I complete the training*

The other new program is really an old program all dressed up with hopefully somewhere to go. Based on one of my previous blogs, which I would recommend referring back to, interest rates play a larger role in buying power than waiting for prices to come down. This new program called "Rate Relief" capitalizes on that notion. Basically, sellers would pay up to 3% in order to buy down the interest rate say from 5.25% to 4.25%. On a 300K house this would reduce the buyers payment by roughly $145 per month, requires less income to qualify for MORE house, it is a PERMANENT rate buy down, allows you to DEDUCT the points as the buyer from your tax during the year the property is purchased!

Folks that don't take advantage of these two items are missing the boat...between lots of inventory to choose from, low rates made LOWER, potential job protection coverage, coupled with the confidence that you have an experienced, detail-oriented agent working in your corner...what's not to love! Call me today 336-817-3598 or email me brooke.cashion@allentate.com to talk more about how we can help you make your next purchase, be it YOUR home, an investment or a vacation home!

Brooke

Keep Your HEAD In The Game...

In these unique economic times there are many so-called "bargains" out there, such as homes in short-sale, homes in foreclosure, homes for sale by owner, homes "under tax value", homes for "swap", homes for lease-purchase and so on. You get the picture. Everyone wants a "deal" and make no mistake "deals" are out there, but you have to adhere to the adage that you truly "get what you pay for". Meaning that just because a home that you are considering making an offer on has one of these glamorous tag lines that assures you that you are getting a deal that no one else can--doesn't mean it's so. Keep in mind these points when making an offer so that no matter what market you are in, your investment in real estate is as sound as it can possibly be.



*Buy a home that fits YOUR needs--don't buy a 2 bedroom home with one bath and no garage because you feel like its a bargain if your family needs more space and you have a classic car collection--buy a home that makes you happy in the short and long term.



*Don't assume that all foreclosures are bargains--You never know the condition of the home, how the previous owner cared for and maintained (or didn't) the home. Also, there may be other homes in the same neighborhood or area that are in better condition, that offer the same or more amenities AND at a similar or lower price. Why pay for something that needs a ton of work, has no history that you know of and may have other negative attributes, when you could pay a couple thousands of dollars more for the same or better home, less work and peace of mind? Make sure you've seen all of the homes on the market in an area and have compared the pros and cons...sometimes distressed sellers can offer better bargains than the banks!



*Be aware of short sales--Until the banks have additional staffing in place to handle the volume of short sales that they are experiencing, you as a buyer could wait for MONTHS to even receive a reply. In that time other buyers are also submitting offers that are directly competitive with yours. If you are considering purchasing a home that is part of a short sale situation, make sure that both your agent and the listing agent have had experience in this arena and make sure that they have good working relationship and line of communication with the bank involved in the sale.



*Just because it's under tax value doesn't make it a great investment--Tax value is assigned by the local government, in our area, the county tax assessor. These folks don't enter your home or your neighbors' and usually use a multiplier based on previous years' values and overall appreciation over the past five or so years. They don't know that you changed the green shag carpet or updated your kitchen...they make an educated guess based on numerous factors and equations. Tax values are all over the place as compared to market values and have little bearing as to what a buyer and seller agree is a good price on a given day. Tax values are a "catch-22" --meaning, you want a low value as an owner because you don't want to pay a lot of taxes, but when you sell, you want the value higher because unfortunately buyers look at this number as some sort of "rule of thumb" as to what kind of "deal" they are getting...so my advice is let's use this number for what it's intended for and that's to pay Uncle Sam--not to establish value!



*It must be a great deal if it's a FSBO! Not so! Just because the unrepresented seller isn't paying an agent, that doesn't give it the stamp of approval as a certified DEAL! Keep in mind that the sellers establish the price they are asking for the home with little to no experience in setting prices--of course they think their home is best--it's theirs, which usually means an inflated price! This understandable passion for their own home can translate into awkwardness and difficulty when negotiating and not using a licensed agent as a third party perspective. I cannot even begin to tell you how many listing appointments I have been on where the folks trying to sell their home have discovered that they grossly overpaid when they purchased years ago because they thought the seller was "cutting them a deal." Though it's getting easier to get comps off of the Internet to see what other homes in the area have sold for, it's not so easy to find out if the area has a stigma due to new road construction, railroads, air traffic or industrial nuisances. Usually it's not the owner who is eager to share these tidbits with you or know that they are legally obligated to do so.



So in a nutshell, be vigilant in these times of opportunity, keep your head on straight and don't be swayed by lots of catchy marketing verbiage. Employ a buyer's agent to keep you on the right path, to represent your interests and to advocate for you...it's well worth it and it doesn't cost you a dime out of your pocket!



If you need more information on any of the topics discussed here or to talk about how I can represent you, please contact me via phone 336.817.3598 or visit my website http://www.brookecashion.com/. I would be happy to discuss your specific situation and provide references should you request!



Happy house hunting!



Brooke

January's Featured Listing-153 Croyden Drive-Kernersville

Some of you guys may or may not recieve my e-newsletter...It is chocked full of information regarding our local real estate market. After all, all real estate is local! :) There is a section in my newsletter where I am promoting a monthly featured listing. This month's listing is a wonderful bargain located on the corner of Bluff School Road and Croyden Drive.

Let me start by saying, that I say bargain, because it is very difficult to get into this area for under 300K and this home is listed at just 295K! It has over 3100 square feet and five bedrooms plus a large bonus area off of one of the rooms. It also has a three car attached garage and is all brick. The home is perfect for someone who needs the room of a larger home but doesn't want to be a slave to the yards that usually accompany them. The yard is level and practical, but not overwhelming. You'll definately still have to time to watch basketball in the afternoons!

The interior features an open floorplan with the master bedroom on the main level. The master bedroom has a large "glamour" bath complete with dual vanities, walk-in closet, separate shower and tub plus an enclosed water closet. (That's a toilet area with a door for all of us from Kernersville) :)

Hardwoods throughout, lots of custom trim, granite countertops, bar area, eat-in kitchen and large separate laundry area.

All in all, if you are looking for an investment in the Kernersville area and need a great school district plus the convenience of shopping, the Y or SportsCenter and dining...this home is it! If your in the market, call your agent and if you don't have one, call me or shoot me an email! I'd love to show you this home! Visit the home's website at www.BrookeCashion.com/519384

Have a great day and let's pray for a little of the white stuff! One more day off would be nice!