Friday, September 23, 2011

USDA Loan Changes Starting Oct. 1

Melanie Troutman
CBTR Mortgage

Are you currently under contract on a property with USDA 100% financing that will close after October 1? Or are you looking to purchase a new home with a USDA loan?

Obtaining 100% financing for eligible properties continues to allure buyers who have credit scores of 580 and higher. It is easy to qualify for a USDA loan because of the lower credit score minimum, no down payment requirement and no required reserves (assets).

However, we wanted to inform you there are changes to the USDA Guarantee Loan program coming up soon. The upfront Guarantee fee will decrease from 3.5% to 2% of the loan amount.  The balance of the Guarantee Fee is paid over the life of the loan as a monthly fee that decreases each year as you pay down the principal.

See the example below using the purchase of a $100,000 home with the revisions in action, set to take effect October 1, 2011. New principal and interest payments will be lower, although the monthly payment will slightly increase by approximately $16-20 per month.

Click image to view larger or to print


If you are under contract, an important factor to consider: these changes will affect all USDA loans that have not been approved by USDA on September 30, 201. If you are under contract to close after October 1st, please contact your lender to make sure that the changes do not adversely affect your approval.

For more information, contact Melanie Troutman with Coldwell Banker Mortgage


Wednesday, September 21, 2011

Some Promising Stats

In a recent Real Trends market report, we’ve found our sellers some encouraging news… and some expected news.  While property values are continuing to decline, the month of August illustrated that the volume of houses sold is UP!  From last year to this year, we’ve observed a 21% increase in houses sold.  Even better, we southerners experienced the lowest decline in property value, at only 1%.  Our northeastern counterparts saw a 4.2% decline, contributing to our national annual decline of 3.2%.  

Southern region
What can we gather from this information?  There is light at the end of the tunnel!  Your house may be a likely investment candidate during our shifting market.  Interest rates are low and southern property values are relatively stable, so stick with it and stick with us at Coldwell Banker Triad, Realtors.  We hope to help you, and our efforts are at a stable 110%!

-Jordan Schwall

Tuesday, September 20, 2011

Need a Trusted Coldwell Banker Agent?

Fannie Fleming
Winston-Salem Office

“Fannie,

You were superb, outstanding and highly professional. Your communication was the best and you went far beyond regular limits in your handling of my home sale. Continued good fortune to you in the future and if you are ever in South Florida, please come visit.”

Sincerely,
~Joanne Dula


Bob Benson
Linda Faircloth Team
High Point Office
“Bob Benson is a wonderful agent! He handled all aspects from start to finish and was very easy to work with. I would highly recommend him to anyone looking for a new home. The referrals he provided were for top-notch professionals who knew their business. The entire home buying process was a breeze thanks to Bob.”

~Rachel Ivory


Monday, September 19, 2011

How HAFA under the Dodd-Frank Act can help sellers

In an effort to keep you informed on current matters real estate, we recently met with one of our agents, Todd Hutchins, whose client is utilizing a program that may help sellers avoid foreclosure and potentially put money in their pockets.   

Today we take a look at HAFA, or the Home Affordable Foreclosure Alternative, which was implemented under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  HAFA meets the needs of those who do not qualify for benefits under the Home Affordable Modification Program (HAMP).  Here are some services that HAFA provides to you…

Ø  Can relieve your debt while reducing the impact of foreclosure on your credit score
Ø  Short-sales approvals within ten days
Ø  Seller credits of up to $3,000 at closing
Ø  Your lender assumes your deficit

Todd Hutchins provided us with some vital considerations when mulling over HAFA.  Ask yourself, your lender, and your tax professional…

Ø  Will you have to assume debt?
Ø  Will there be tax consequences? 
Ø  Will you still owe money to your lenders?
Ø  How will HAFA impact your credit score? 
Ø  Do you have short-sale experience and are you working with an agent that does? 

Come see us at Coldwell Banker Triad, Realtors to discuss whether a HAFA sale could be right for you.  We’re Trusted Agents with the Right Tools to make Smart Decisions and are readily available to speak with you! If you have any questions, please call 336-748-5376.

-Jordan Schwall

Friday, September 16, 2011

Who's Behind The Blue Door of Real Estate?

Click image to print or view larger
For those of you in Burlington, if you get the Times-News look for this ad tomorrow. You might ask, ‘What is The Blue Door?’

Whether you are in the market to buy or sell, or you are a vendor in the real estate industry we invite you to come to ‘The Blue Door.’

You will find: Results. Experience. Understanding. Loyalty. Professionalism. Knowledge. A Written Credo. A Written Guarantee. Your Best Interest.

‘The Blue Door' is your ONLY destination for all things real estate. Step across the threshold into our office at 422 Huffman Mill Road, Suite 102 in Burlington. Our agents are ready for you at The Blue Door.


Wednesday, September 14, 2011

We Know How to Get You Home!

Want to be a homeowner but not sure that you can do it? 


It's EASY to find out. 


Even if your situation is not right at this time, working with a lender to start the process is a smart move for the future.  If you do qualify now, there are programs for little or no down payment and options for the seller to pay closing costs.

WHAT ARE YOU WAITING FOR? Did you know that you could buy a $100K home and your payment could be as low as $600 including taxes and insurance?



Melanie Troutman
Mortgage Services
NMLS #46497
Phone 336-624-3105
Fax  856-917-1256

Monday, September 12, 2011

Need a Trusted Agent with the Right Tools for Smarter Decisions?

McCullough Woodward
CBTR High Point Office

Mrs. Woodward is by far the best real estate agent we have ever dealt with! She has integrity, honesty, and deals with problems in a calm and professional manner. She was always on time, answered every question and has been there for us after the sale as well. She is the only person I will deal with for my real estate needs in this area as long as we are here. I will direct anyone looking for real estate to her without hesitation.

Thanks,
 ~ Mark Tiffany

Contact McCullough Woodward

Kim Strohacker
CBTR Winston-Salem Office

Thank you so much for pulling us across the finish line!  We always felt we were in capable and knowledgeable hands.  Your advice was sound and well informed and we always had an immediate response to our many questions.  You have been a delight to have as our agent and we wish you the very best.  If you ever need a reference we will give you a glowing report!!   

Take care Kim and thanks again.  
~ Jeanne Faulkner 





Friday, September 9, 2011

Coldwell Banker in the Media- Top Rankings in "The Thousand"


Jim Gillespie, CEO
Coldwell Banker Real Estate LLC
Coldwell Banker is proud to announce its dominating presence in The Wall Street Journal and Real Trends "The Thousand,” an annual look at the top real estate practitioners in the nation.

Jim Gillespie, CEO of Coldwell Banker Real Estate LLC, proudly announced the brand trumped all comparables in representation and made up nearly 25% of agents and teams who were congratulated. Remarkably, Coldwell Banker:


  • Was honored for having 28% representation on the individual sides list, surpassing its competitors by 20%
  • Garnered 34% of all agents on the individual sales volume list, more than double our nearest competitor
  • Exceeded the second highest sales team rank by 14.5%, again making us NUMBER ONE, holding 22% market share

According to Gillespie, we have "it" —the combination of trust-inspiring abilities, dedication to our craft and willingness to overcome obstacles—for all real estate needs. 

Thank you and congratulations to all for making the Coldwell Banker brand what "it" is today, as we look forward to your continued support!


-Modified by Jordan Schwall

This blog is best viewed in Google Chrome

Thursday, September 8, 2011

Video: The Lake at Lissara

                                                                                         
Remember the unveiling of the Lodge at the Lake at Lissara? Well, today you can take a closer look ...




Thursday, September 1, 2011

What can you do to help with a smooth and speedy closing?

Melanie Troutman 
 Coldwell Banker Mortgage
Today is the first day that conventional loans will be using the new UAD appraisal form. In addition, USDA is back to a full capacity with a 5-7 day turn around ONCE THE FILE GOES BACK TO USDA FOR FINAL APPROVAL. VA appraisals and documentation are taking a VERY LONG TIME.

What can you do to help with a smooth and speedy closing?
Glad you asked! The industry has experienced some delays in the past few months are here are some things that can help prevent them.

*  ENCOURAGE your buyer to bring all income/asset documentation to the initial application interview. If the buyer is self-employed or commissioned, we'll want to see the tax returns for the previous two years. We can send these documents to an income analysis underwriter so we can determine accurate income with NO SURPRISES!

*  SET THE DUE DILIGENCE DATE AS CLOSE TO THE CLOSING DATE AS POSSIBLE!

*  Provide a completely executed contract with all addendums as soon as possible. Make sure that if you have checked off that an addendum is attached that it really is attached.

*  Make sure that buyer's agent has SIGNED the FHA/VA addendum, not just a printed name (when applicable)

*  If this is a VA, USDA or FHA loan and the property has well and septic, please let us know right away so we can confirm that it meets guidelines.

*  If anyone other than the owner of the property signs the contract for the seller, please provide documentation that person has authority to sign the contract.

Get Preapproved on Melanie's Website


Need a Trusted Agent? See what our clients have to say about ours

"Sandra Fincher was recommended by a local builder and we couldn't have been more pleased with her. Being from out of town, Sandra made the buying experience hassle free, and went above and beyond to help with details we weren't able to do being 350 miles away. I would definitely recommend her to anyone looking for a real estate associate."

~Gary Fuchs

View Sandra's Profile

Libba Kennedy
Realtor at CBTR in High Point

"As a first time home buyer it was very important to me to have a knowledgeable REALTOR. Libba was very professional, courteous, informative and extremely helpful in explaining everything about the buying process and all the specifics that were a little over my head! I have to say that she helped tremendously in making this a seamless, extremely smooth process and I'm grateful for that."

~Sara Elizabeth Myers

View Libba's Profile