We just got an email today that this Piedmont Triad local lender is offering 1/2 origination cost on mortgage loans.

No discount fee on all new loans between now 11/17/08 and Christmas!
Please feel free to call Christy Roels at Wachovia 33-726-0966 at the office or my cell 336-776-8348.  Her email is christy.roels@wachovia.com

 Below are todays rates as of 10:44am 11/17/08. The conventional rates are assuming a 720 or higher score, with 5% down.

30 YR Fixed Conventional 5.75%
15YR Fixed Conventional 5.5%

FHA 30 Yr Fixed- 6.0%

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
Website: www.NC-Homes-For-Sale.com
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: lawrence617@gmail.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE custom MLS search account at http://nchomesforsale.listingbook.com/?node=3
Search the Triad MLS Right Now -> http://www.mlsfinder.com/nc_triad/bradlawrence
Sellers - Ask us about saving up to thousands in commission.

 

 

Great news for Firefighters/EMTs/Law Enforcement Officers/Teachers

They may be eligible to purchase HUD homes at 50% discount.  It is called the Good Neighbor Next Door Program. 

Buy a home through HUD's Good Neighbor Next Door initiative designed to encourage renewal of revitalization areas by providing law enforcement officers, firefighters, emergency medical technicians and teachers an opportunity to purchase homes in these communities. HUD provides a substantial incentive in the form of a fifty percent discount off the list price of eligible properties.

Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. In order to received the 50% discount from list price of the home, in return you must commit to live in the property for 36 months as your sole residence.

 You must live in the home as your sole residence for a full 36 months. The purpose of the program is to strengthen communities by encouraging employed, professional law enforcement officers, teachers and firefighters/emergency medical technicians to live in the community. You will have 30, 90 or 180 days to move into the home you purchase, depending on HUD's determination of the condition of the home and the level of repairs that may be required, if any. The 30th, 90th or 180th day is the start date for the occupancy period. Your are released from all obligations under this program at the end of the 36th month following the start date. HUD views the occupancy obligation seriously and vigorously pursues violators to the fullest extent of the law.

 

The HUD homes are located in designated Revitalization Areas. There are hundreds of Revitalization Areas located in the United States.  Right now in the NC Piedmont Triad area, there are Revitalization areas in Forysth and Guilford county.

These homes are sold "as is," without any kind of warranty. You can only buy single unit homes, townhouses, and condominiums through this Program.

For more info, visit the HUD website

The following numbers are the Pendings/Solds/New Listings/Actives for Week of 11/8/08 - 11/14/08

Source - Triad MLS

County	Pendings	SOLDS	New Listings	All Actives
Guilford	60	23	132	4599
Forsyth	56	26	105	3379
Davidson	17	7	26	1263
Randolph	11	3	28	757
Davie	2	2	10	410
Stokes	4	2	5	291
Surry	6	2	18	422
Yadkin	3	1	7	119
Alamance	4	3	17	390
Rockingham	5	2	9	545

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about how we can save you up to thousands in commission.

Information about working with a NC Real Estate agent

Buyers - when shopping for a loan, try to figure out how long you think you will be in the home. I know there is control what will happen these days, but try to be realistic.

This is why.......Rule of thumb............

If you plan to be in the home 6+ years, then shop for the best rate, maybe buy down some points and don't worry about pmi..........
But if you plan to be in the home less than 6 years, try to get the lowest closing cost, try to get a loan where you do not have to worry about paying pmi, your rate will be a little higher, but in less than 6 years, you will have saved more in lower closing cost and not paying pmi vs a little higher rate.........

Of course you would want the best of both worlds - a low rate, low closing costs and no private mortgage insurance (pmi). This can be done if you have great credit score and at least 20% down.

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about our LOW commission plans, SAVE upto thousands!

Information about working with a NC Real Estate agent

It is common sense and I know we all realize this, but I wanted to reiterate the fact .........

Don’t go out and make any new purchases, a car or furniture, TV etc. Also, do not open any new credit accounts (of any kind). Especially, after you have a pre-approval and made an offer on a home, just don't buy anything till after you have purchased the home.

I know we forget sometimes, but when trying to get a loan to purchase a home, it is crucial to keep your loan to debt ratio down.

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about our LOW commission plans, SAVE upto thousands!

Information about working with a NC Real Estate agent

Congress may soon consider a new economic stimulus bill. Housing has always lifted our economy out of past economic downturns so it is imperative that Congress focus on housing in the next stimulus package.

We need ALL to support NAR's efforts to have the NAR Four-Point Housing Stimulus Plan included in any future stimulus bill.

See the following Four-Point Housing Stimulus Plan .........

Make the $7500 tax credit available to all purchasers and eliminate the repayment requirement. The credit’s limited availability and required repayment terms have severely limited the credit’s appeal to potential homebuyers. As a result, the credit has not been widely used or proven effective at stimulating sales. THIS WOULD BE WONDERFUL!

Make the 2008 FHA, Fannie Mae and Freddie Mac loan limits permanent. New rules for 2009 would significantly reduce the FHA, Fannie Mae and Freddie Mac loan limit from their 2008 levels. Now is not the time to limit the availability of affordable mortgages.

Get the Emergency Treasury bank relief program back on track by targeting more funds to mortgage relief efforts and increasing efforts to mitigate foreclosures. Don't just give the banks unrestricted cash. Make the program work to improve mortgage and housing markets as it was originally intended.

Permanently bar banks and banking conglomerates from engaging in real estate brokerage and management. The banks have proven they have enough to do to simply properly manage their current lines of business. Do we really want them to manage on the home buying process? Imagine what could have been the situation now if they already had the added ability to engage in real estate sales.

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about our LOW commission plans, SAVE upto thousands!

Information about working with a NC Real Estate agent

There is a new product out called the HotStop Scald Protection Faucet which prevents hot water burns. When hot water reaches an unsafe temperature, the HotStop faucet quickly reduces the water flow to a trickle to avoid scalding. Once the water in the line cools the flow re-starts automatically - usually in less than 30 seconds.

The HotStop faucet installs in minutes and requires no special tools or plumbing expertise.

The HotStop faucet is a product that the American Valve product development team wishes they never had to design. Several days before her first birthday, little Leah McCammon was taking a bath when she attempted to pull herself up using the hot water faucet handle. The force of 140°F water knocked her down and in seconds caused 3rd degree burns over most of her body - she died several days later.

Each year thousands of children and adults are severely injured by scalding tap water. In fact, tap water scalds are the second most common cause of severe burn injuries among people of all ages. The older generation adults are a common victim of scalding water too.

Tub spouts and showerheads are also available.

A close friend of ours is part of the team that developed these products. It is a great invention!

I know these can be bought at the home improvement stores. A great gift idea especially with someone that has kids or elderly person living at home.

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about how we can save you up to thousands in commission.

Information about working with a NC Real Estate agent

The following numbers are the Pendings/Solds/New Listings/Actives for Week of 11/1/08 - 11/7/08

Source - Triad MLS

County	Pendings	SOLDS	New Listings	All Actives
Guilford	56	17	130	4620
Forsyth	39	22	111	3421
Davidson	8	11	34	1271
Randolph	10	8	34	748
Davie	0	0	14	407
Stokes	4	1	8	300
Surry	3	1	9	421
Yadkin	2	2	7	117
Alamance	7	1	7	378
Rockingham	9	3	13	548

Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about how we can save you up to thousands in commission.

Information about working with a NC Real Estate agent

Housing has always lifted the economy out of downturns, the following is proposed by the National Association of Realtors to help the economy to come alive again.

1. First-Time Home Buyer Tax Credit
Remove the requirement that first-time home buyers repay the $7,500 tax credit, and expand the tax credit to apply not only to first-time buyers but also to all buyers of a primary residence. GREAT IDEA!

2. Conforming Loan Limits
Revise the FHA, Fannie Mae, and Freddie Mac 2008 stimulus loan limit increases to make them permanent.

3. Credit Crunch
Use a portion of the allotted $700 billion that was provided for the purchase of mortgage-backed securities from banks to provide price stabilization for housing. The Treasury department should be required to use the newly enacted Troubled Assets Relief Program to push banks to:
a. Extend credit down to Main Street, making credit more available to consumers and small businesses;
b. Expedite the process for short sales;
c. Expedite the resolution of banks' real estate owned (REOs) properties.

4. Banks Out of Real Estate
Make permanent the prohibition against banks entering real estate brokerage and management, further protecting consumers and the economy.

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Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
Our BLOG
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about how we can save you up to thousands in commission.

Information about working with a NC Real Estate agent

Now the election is over, what is next for the real estate market?

Some buyers have been on the fence waiting for the election, most are waiting for home values to bottom out, some are waiting to see if the economy will turn around, some are waiting for credit markets to loosen up............

Our opinion, all the above will eventually happen, but if your a buyer and able to buy now, it is definitely a good time because of lower home values and low interest rates.

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Brad and Angela Lawrence - Brokers/REALTORS
Multi-Million Dollar Producers
ERA Premier Realty
NC HomeTeam Inc
Our Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Toll Free: 866-220-6458
Brad's Cell: 336-909-1293
Angie's Cell: 336-909-2638
Fax: 866-233-4314
Email: Brad.Lawrence@ERA.com
Our BLOG
We serve the Whole Piedmont Triad Area!
Buyers - Sign up for your own FREE MLS search account
Sellers - Ask us about how we can save you up to thousands in commission.

Information about working with a NC Real Estate agent