Our monthly: WHY we MAKE our PARTNERSHIPS THRIVE!

Each month we have the exceptional closings that are QUICK and PAINLESS and we have the MIRACULOUS ACHIEVEMENT without the public knowing of the behind the scenes miracles that happen.

As our agents and clients know, we push hard to ensure we get them to the closing table no matter what comes up. This being said, we value the relationship and partnerships with our agents. We thank them for being a part of our lives and business and are always pleased when we can achieve something greater than their expectations.

Thank you for your business and your trust, if you ever need us to help with something above our every day client, we will be pleased to put ourselves into getting the client CLOSED for you and for them.






This past Month our IN A CINCH and IN A PINCH are as follows:

The Perks of Refinancing your home

Happy Turkey Month to ALL!! This month we are focused on getting financially fit while we physically Eat our hearts out, nap and visit with family!  We found a great article that covered the basis of the importance of refinancing and since we are in a purchase driven market- we realized we haven't even mentioned to you guys what you can gain from this program type. Varying from rate reductions to renovations, refinancing at its core is beneficial in becoming "financially fit".

You and I aren't in the same situation from a year ago, or 5 yrs. ago and re-assessing where you stand could save you some big bucks and accomplish some long term goals for your household.



One Subject that this article didn't mention is renovations to your home. We have options for our clients wanting to add an addition to their existing homes, update their current space or simply get it in functioning order for your family needs. Whatever the need, just know- we can close very quickly and painlessly and help you breath easier through the holiday season- knowing that the work is now complete.

Top Reasons to Refinance Mortgages

Home Refinancing Tips & Advice for Borrowers

It is important for the homeowner to have a clear understanding of their financial situation and objectives - keeping them in mind in order to acquire the loan most appropriate for them. This article highlights a few of the major reasons as to why people decide to refinance their mortgages.

Lower Your Monthly Payment

If mortgage rates happen to be lower than when they were when the home was originally financed, or if the homeowner decided upon an adjustable rate mortgage accompanied with a lower interest rate than the current rate, monthly payment will decrease. That is assuming the homeowner doesn’t significantly shorten the loan term or cash out equity. When the home owner refinances, that means that monthly payments will be lowered and there will be extra money for those desired extras such as dinners, new clothes, or investing into a retirement or education fund. However, that is not the only reason to refinance, but it is possible for the homeowner to not have the funds to bring to the closing table at the end of the initial mortgage loan. Most of the time, all of the closing costs of the initial loan can be placed into a new loan, which means less money will come out of the homeowner’s pocket.
Even an interest rate reduction of one-half of a percent can make a difference in the payments that is quite noticeable. Due to the fact that fees associated with refinancing can extend into the thousands of dollars, it is important to go over the numbers and make sure that the home will be occupied by the residents long enough to recover the costs of this type of transaction. For example: If the total closing costs for the refinancing of the loan comes to $2,000 and the monthly payment is reduced by $80, it will require a period of almost twenty-five months to break even. It is important for the homeowner to know if the costs that come with the refinancing are worth it in the long run.
There is a general rule in the industry that states that if the present interest rate is lower than the mortgage by two percentage points, refinancing is something to consider. Mortgage lending competition is starting to turn the industry toward a looser rule of thumb. Those homeowners with good credit can get special deals on their closing costs from various lenders. In these cases, refinancing in order to achieve lower interest may make sense.

Build Equity Faster

If the homeowner is in the position to make a monthly payment that is higher than usual because of good fortune or an increase in salary, the homeowner may want to think about switching from a 30-year mortgage to a 15 or 20 year mortgage. This allows the homeowner to build equity quicker and save more money on the financing fees. In other words, the homeowner builds equity at a faster rate without putting out substantial amounts of money every month. If refinancing costs are hard to justify, one doesn't need to refinance to lower the payment term. One can simply pay extra each month or consider bi-weekly payment options.
Some mortgages come with a pre-payment penalty, so even if it make sense to pay extra early on the loan, those with a pre-payment penalty may need to leave a small balance for a period of time near the end of the loan to avoid paying that extra fee.

Change the Loan Program Type

Many homeowners decide to go for an adjustable rate mortgage because of the low rates in the beginning, especially before interest rates begin to fall. However, these mortgages are quite unpredictable and may increase without warning. This means the mortgage is able to fluctuate and can do so monthly by hundreds or even thousands of dollars. Many homeowners have the desire to move to a fixed rate mortgage after starting with an adjustable rate mortgage because of its added stability. Since interest rates are always fluctuating, the original deal suddenly becomes less attractive. People decide to change their loan programs so that they can capitalize on those available rates that are best for them at that time. If the homeowner’s adjustable rate mortgage is adjusting, that can be a great reason for the homeowner to refinance to acquire a loan containing a fixed rate. 30-year and 15-year loans are common, but some people also take out 5, 10, 20 or 40 year loans.

Managing Your Credit

Achieving better credit scores is another great reason to refinance. If the homeowner’s credit score has gotten better because mortgage payments have been made on time, the homeowner may be able to take advantage of that improved credit by refinancing into a loan with lower interest rates decreased payments.
Debt consolidation that will help the credit score is another great reason for cash-out refinancing. The homeowner can use the money from a cash-out refinance to pay off other bills such as credit cards. This is the same as transferring the debt into the home loan. Due to the fact that mortgage rates are most likely lower than that of credit cards, not only will the total amount of monthly payments go down, but the interest paid will also be tax deductible. It is good to check with an accountant to make sure.

Use the Equity in Your Home

The homeowner can use a cash-out refinance loan to tap into the equity that has been build up in the home. The homeowner may want to consolidate debts and pay off credit card accounts, send a child to college, or make improvements to the home.
Cash-out refinance is an easy way to pay off credit card debt, but you should only do it if you won't quickly run up the credit cards again. If you run up the credit cards again you end up with the same credit card payments & yet more debt against your home.

Through cash-out refinance, at closing the homeowner receives a lump sum. Those who are responsible put the money to good use. This may mean they are planning for retirement, making home improvements, or paying off other creditors charging higher interest rates.

Pay Off Your Mortgage Sooner

Maybe the homeowner has paid off a car, inherited a sum of money, or received a bonus at work, if the homeowner is planning to own their home into retirement, refinancing down from a 30-year loan to a 20 or a 15 year loan may be a good move financially. The payments will rise, but the extra money can be used to cover the difference. By paying off the home earlier, the interest that is saved over the life of the loan is quite significant. The homeowner will also own the home free-and-clear sooner.

Article from: http://www.mortgagecalculator.org/helpful-advice/top-reasons-to-refinance.php

- Signing off,
TCG

Housing Outlook 2014

Hi All! Its FALL (well almost, I know a few of you are thinking... NO TCG, its Not... Well, I know the 23rd is- But lets pretend like we are in 5th grade math class... and ROUND UP)


Since the year is FLYING past us, I thought I would discuss our housing market, predictions etc.. for the season and not inundate you with product details :) Also, a few REALLY helpful links on moving tips for your clients. (OR OUR CLIENTS :)

According to Forbes.com  * http://www.forbes.com/sites/erincarlyle/2013/12/23/housing-outlook-2014-10-predictions-from-the-experts/

Inventory and Rates:
We will experience more homes in inventory for potential buyers, rates potentially rising (which I know is a big worry for most- but is necessary to improve the economical position of the country.)
But rates will not skyrocket- Still a LOW for the US average history: quoting "2008 the 36 year average was 9.2% and never below 5.8%,"- Glen Kelman CEO of Redfin.

Obtaining a Mortgage and Prices for Homes:
With all of these changes will bring more competition between banks, rates rise- and refinance will dwindle which in turn loosens guidelines for banks to allow for more leniency through the purchase process. Zillow and Redfin predict that home prices will rise between 3-5% in 2014- while national average in 2013 was 5%.

Home Outlook, Affordability and Ownership Overview:
Rising home prices helped 2.5 million homeowners with underwater mortgages regain positive equity status during the second quarter of 2013. In 2013 by Q3 6.4 million were still in negative equity status but expected to shrink through 2014. As mortgage rates rise and the slow pace of rate increases it is predicted that affordability will decline. Since income isn't following the housing trend and not keeping pace with the housing market. Ownership rates in turn will decline as Zillow predicts in 2014, with children moving from their parents home (and not always buying but renting) as well as during the recession the housing market proved unsustainable with 7 out of 10 in a home- we are looking at challenges for growth prior to growing.

 Americans and Moving, Foreclosure Outlook, Home Buying Process At EASE
The good news about all of this? We as Americans will still move and still buy homes, but this go around our approach will be a little more cautious. We will focus on more affordable areas *trending predictions for cities: Portland, Denver, Austin, Richmond, Dallas, Houston, San Antonio, Atlanta, and Raleigh.- Redfin* they'll choose smaller homes and be a little more educated about what to look for security. The foreclosure market is reducing significantly roughly 33% down from 2012 and the declines should continue as the housing market recovers. Qualification is looking up with increased inventory and fewer foreclosures - the housing market now beginning to look more normal.  A quote from Trulia about this outlook:
“All in all, more inventory, less competition from investors, and more mortgage credit should all make the buying process less frenzied than in 2013,” says Kolko of Trulia

 

Applicable Quote: 

"Exploration is the engine that drives innovation. Innovation drives economic growth. So let's all go exploring."

Edith Widder

Signing Off,

Theresa Crowell Green- The Green Team

How to buy a home and be prepared for the red tape

In the market that we are in, I am sure we can all agree that things are changing a bit for the better.
In turn we have more people out and about wanting to be homeowners.

 GREAT! Nothing more rewarding than the benefits of owning your own home.

On the flip side, you hear all kinds of horror stories when you start to tell people you are buying a home. Your uncles best friend didn't get his loan because he quit the day before closing on a cash out transaction... I mean who needs to be employed, when you are getting $50,000 in cash?

Or your best friend didn't close for two weeks because she forgot to tell the bank her down payment on her home was coming from a family member loaning it. Why would it matter anyways? It isn't as easy as you would like to think but being informed and gathering documents to help your lender- will keep you ahead of the game and in a smoother process than most encounter.

Keeping educated is key when going through the home buying or refinance process- simply because since the changes in the banking industry have been implemented- banks are more cautious than ever.

Nowadays, the income has to be continuous, we have to verify that its being received- who is giving you money to ensure that it isn't something fishy. Although, you know you wouldn't do anything to commit mortgage fraud, plenty of people have and we have to be careful to follow guidelines so we cover our basis and do our part to protect the financial foundation of our future going forward.

Finding a bank that is both cautious and reasonable with their clients is where I feel our company comes in. We are growing as a mortgage lending bank by leaps and bounds- but we are still small enough to think outside the box where allowed and not always conform to a 4,000 step process for someone's mortgage loan.

We value our clients, and their time and in turn try and keep our underwriting turn times to 6 hours, and our process to close in a little as 7 days. But we do it and still gather what we need along the way.

Here are a few tips for buying/refinancing in todays economy with any bank.

• Get a 2 yr. history of your past. (Where have you lived? Dates? Landlord contact (Yes, so we can verify what you have provided us.) Where have you worked? Dates? Rate of Pay?)
• Know your credit- Have a mortgage professional (Us preferably) pull your credit and see where you fall in line for loan programs. This way you have an idea of how much money you may have to invest into the process. You will also know where you fall in line for qualifying for purchase price.
• Know your deposits, your assets and your idea for where you money might be coming from. What this means is... the banks want to see that your income of course is being put in to your accounts- but when you have odd deposits, (like, your mom gave you $100 for your birthday, your college roommate finally gave you the $600 he owed you, or better yet- your family is giving you money to be nice and help with the home buying process) These funds have to be tracked and in turn, we will need to know if the money being given to you- is repayable, or even get more info depending on the terms/amount of money which may result in us getting more involved in their personal business than they want us too.
• Know your assets- if you want to bring $1,000 max to closing but the numbers work out to where you need $2,000. We have to come up with the amount somewhere. This being said, its always good to have a buffer in your account over the amount you want to bring and the lender can structure it as close as possible to the goal. Ultimately, we have to see that you have the down payment and in turn we process the loan in the same way as the client disclosed to us.
• Employment and income. So this can be touchy, especially if someone is self employed, or receiving non consistent income. Guidelines govern lenders in such a way, that we have to look for the probability of payment. We need to see that the mortgage payment and overall debt is affordable and that your income is likely to continue. * See the first paragraph where the guy quit his job because he was cashing out of his mortgage.* Note, if you receive income from other sources, dependents, social security, etc.. that we will need to show supporting documents for this income- because we have to see it will continue to count it, as well as any court documents that may state something like: $500. a month in child support for 12 months and $50 mo. thereafter until child reaches the age of 18. If you apply with the $500 as income, but know that it is going down- we may potentially be in a situation where you could get overextended and we would not want that for any of our clients.
• Know who's house It will be... We love our clients and want them happy, but loan programs are based on occupancy of the home. Will you occupy it, will you live their seasonally, will you rent it to others and not live there at all? These things matter and determine the banks risk. Properly disclosing this is important and will keep from having last minute hang ups and potentially not closing at all without letting the bank know.
•  Be prepared. no matter how hard a bank may work on your behalf to get you closed quickly and on time, from time to time delays happen. This being said, go into your process with a contingency plan. Have a plan for someone to stay with in case things get delayed, something so small and simple that if mentioned could get you a set up for royalty at your best friends house... But last minute planning can be stressful and delays with any company can happen for a various amount of reasons. Its not that the bank is awful, its that we fight to ensure your loan gets closed and with each hiccup we feel it with you. Sometimes, we cant punch hard enough to get us to where we need to be fast enough- even when we put all effort in.
• Be informed. Use a lender that has a copious assortment of products. This way if your loan falls through with one program you have less likely chance of being turned down and starting over. They may be able to restructure your loan program and get your fit where you are supposed to be and in your home :)

If you are interested in buying a home, we have several references and a process unmatched.
Our team offers no down time and always working on your behalf.
Apply today at: 
www.theresacrowellgreen.com on the apply here link top right :)

We will find your perfect loan program and walk you through the process in baby steps!

Signing off-
T.C.Green

Our Loan Programs, Our Pricing, Our Process... Our Difference.

Loan programs, of course are going to be pretty standard across the board; with the exception of a few that set us apart from our competition.

One thing is for sure, it isn't always the program as much as the process... And above that it isn't always the process, as much as the service and experience through it all.

(You could go with a competitor, close in 90 days and cry for 75 of them with your client- but none the less close...)

We want our clients to know that this process from start to finish can be painstaking in any regard gathering documents, signing paperwork until your wrist is in a sling....

The Green Team with Movement offers the following assurance to our real estate partners:

• Open communication and first hand updates.
• No down time, you can reach a member of our team at all times.
• Step by step guidance to your clients and if needed, catered time for their schedules to walk them through all steps as many times as needed. No Complaints. No Worries.
• Restructuring of difficult files. - We are approached monthly by realtor partners... Saying the same thing.. "This should have went to you first." Although, we cringe knowing we may not have had the first look, we always smile and let them know- we CAN and WILL do what is needed to save their CLIENT and put them into their new home. If we can't help at the moment, we can place them on a game plan and follow up in a few days, weeks, or whatever time frame to turn them into a lead. Then Contact the Agent and let them know the client is and should be ready...
• WHO Else manages your future money?

We offer 100% loan programs, JUMBO, Down payment assistance- and most recently won the top lender award with the NC Housing Administration.

Our MCC Program- allows for clients who opt for this option to gain back an additional $2000.00 of their annual income as a tax credit from their employer... it allows for more money back to them for using it. MOST of our competitors do not offer this program or are completely unfamiliar with it.

Our conventional programs are competitive and we have some rate leniency*(within our daily rate sheet) to help get your buyer on board, off the market from shopping and on their way to a fully underwritten file without even having a purchase agreement in place.

THATS RIGHT: We can fully underwrite on a TBD file- No contract needed. So your buyer turned into as good as a CASH deal for you. Best of all: we underwrite after docs received in 24 hours. Our Clear to Close goal based on our company core is 7 days... WHAT!?!

Other Programs Include:

203k Purchase  203k Streamline  FHA   USDA  VA  HOMEPATH    Reverse Mortgage  REHAB and BOND.

 

We sit with our agents, help them with how to create an online presence, social media and walk them through how to market to assist with gaining momentum for their potential clients.

 

 

Social Media Tip of the Week for Real Estate Agents



MUST HAVE APPS for your Mobile Phone

 

1. zillow- property search and hidden inventory access- other then MLS

 

2. Google Maps- Must have! When you have a list of properties for a client- it will route you to best- closest to keep you from back tracking.

 

3. Mortgage Calculator- Please do not become a loan officer with this app! BUT please use it to give clients fair outlooks on what to expect- with down payment, etc.. for their housing payment. It may get you honing in on your search and closing quicker!

 

4. Sitegeist- multitude of uses! Depending on your location- it will pull up things like: avg. age of residence, political contributions, avg. temp, commuting trends, and popular nearby places. BE in the KNOW.

 

5. Vert- 'anything and everything' agents deal with lots of different metrics- this allows for: size, weight, volume, length and currency to be toyed with all in one handy app!

 

6. Cam Scanner- With purchase contracts, due diligence agreements, and all the other documents your clients have to sign and send back.. what if- you could have them download the app, sign your papers and scan them with their phone? (FREE APP!) they look like real scans and it keeps your clients who doesn't have scanning capabilities happy and not traveling to kinkos or the office when they can easily do it from their phone. UHHH MAZING!

 

 

7. Dropbox- Keep track of your clients- put their documents here, share the folder (secured and on a cloud) You can even share with clients, lawyers and others if needed. Will save you 10000 emails- that is for sure!

 

8. PDF Escape- for your clients who have digital signatures stored on their computer, this will allow for them to sign and date your documents with the click of a button and input their signature. Speeding up your purchase process!

 

9. Sign Easy- If you are on the go as an agent, and need to sign something... Create an account- Create a signature, and when needed just add to any document sent to you- SAVING time from having to visit the office or do later.. Open email - open attachment- click to sign and email back to original sender. HOW AWESOME! GREAT for addendums and rush issues!

 

 

10. Magic Plan I am not going to lie, I love this APP! - Measures rooms and draws floor plans- JUST BY taking pictures.. SO if your client wants to know how big a room is- or if something might fit, easy enough... Also as a listing agent- this is MAGICAL to have for potential buyers on hand. I cant tell you how many times when we were looking did we want to know how the measurements panned out... SO AWESOME!

 

OTHERS INCLUDE: (Notable mention, like in sports.)

Open house Manager- Streamlines communication to buyers etc.. / BizKinetic Real Estate- Manages Leads, contacts etc.. / Agent Folio- allows for easy presentation etc.. of potential homes for buyer instead of just MLS list.

 

 

Remember we are here to help. We want to streamline your client and their process.

We want you creating happy clients because we get you to the closing table.

 

Signing off.
- T. C. Green



We are Different from Our competition- It's not just the people.... IT IS THE PROCESS.

With all post, we have a lot of advice and hope that as we publish each blog that something will not only appeal to our audience- but help them be more successful along the way- Or in the case of our clients, allow their home buying and refinance experience to be as painless as possible.

Movement and The Green Team

• We underwrite UP FRONT on a To Be Determined Property- allowing your offer to your potential home seller to be AS GOOD AS CASH.  Since in roughly 24 hours you will have an actual loan approval with conditions.
• Conditions Collected by loan officer and processor. (48-72 hours later)
• File cleared to close and Goal for package is to be out 3 days prior to closing.  (48-72 hours later)
• We have a 7 day clear to close process goal which is UNHEARD OF IN THIS INDUSTRY.
• We (Our Team) have 3 people working in different aspects of your loan process to ensure NO DOWN TIME delivery for our clients or partners.

 

Our Competition

 

• Takes application, doesn't verify information up front until they ask for documents- sends approval to real estate agent and then sends the loan package asking for more documents.
• receives loan package- processes- Processor calls for more information since they cannot submit to the underwriter without a FULL package.
• Client submits more documentation- File sent to underwriter (this is roughly 2-3 weeks in at this point)
• Underwriter approves the file subject to other conditions and missing documentation- Loan officer, processor, client and agent gather missing items.
• Underwriter clears loan to close (Usually around day 30 ish) and loan package sent to attorney.
• Client waiting to close (between 30-45 days)
• OR WORSE: gets turned down for their loan on day 30 on an issue that could have been potentially avoided on day 1-2 on our process for MOVEMENT MORTGAGE.

See? Really Different. We were set up to run OPPOSITE OF OUR COMPETITION to set us apart.



On a Side note:

JOKE OF THE MONTH

A small real estate broker was dismayed when a brand new corporate chain much like his own opened up next door and erected a huge sign which read BEST AGENTS.

He was horrified when another competitor opened up on his right, and announced its arrival with an even larger sign, reading LOWEST COMMISSIONS. The small real estate broker panicked, until he got an idea. He put the biggest sign of all over his own brokerage-it read... MAIN ENTRANCE.

 

 

Okay Back to Business:

 

Marketing Tips by Team Green

• Search for your competition or clients:
• Twitter:  (3 ways to search)
• Search.twitter.com can help you find potential followers and customers on Twitter. By clicking on Advanced Search you can narrow down finding tweets based on different parameters.
• Search for a Need: As a real estate agent, you want to search for clients who may want your product; (listing, potential buyers, renters, foreclosure, short sale etc..) whatever your specialty. In this case you might search: "Buying Home", "Looking to rent", "Buying foreclosure"... The possibilities are endless, so you get the point. But this allows you to find potential clients that MOST of your competition WILL not know how to approach...
• Search for Hashtag: No, this is not for selfies or whatever those things are called when someone awkwardly poses themselves in front of their camera.. #noselfieshere. But they are used widely in Twitter to help differentiate a discussion. For example, every Tuesday moms and other women use #GNO as a search (Girls night out). Finding a # (<--- That is a hashtag) relating to your business can help with potential clients.

Search by Location: you can specify a keyword and find everyone tweeting the keyword within a distance of a zipcode or city.

 

 

Hope this helps with your Twitter Marketing!

 

 

signing off :) Since it is month end and we have things to do!!

 

Talk soon and call us if you need us for ANYTHING

 

 



Working out your mind- Lets give you some SUPER marketing Tips!!

In the past month, I realize I have been MIA on my blogging. No excuse- other than my marketing gal and our team has been busy working on clients and achieving their goals.

I know that for some of you - you were like Thank goodness!! (For others, you probably thought, what is a blog and why is Theresa on one? ) Don't worry, I promise, it's safe... And not a new gimmick to exercise.

Since its been a while, lets PACK as much advice as I can in a LITTLE spot this week to help our real estate partners with some marketing tips.


Think outside the box!!

When ramping up your business it isn't just about single referrals. Focus on a GROUP
of people you can offer value too!

If you want to run campaigns and can part with a portion of your commission (remember 0% of $.00 is still.... $0.00)

Potentially a particular HOA for listings, $500 off your fee for example of a lower commission to represent both parties. (list that this is your specialty--- after all... it is- if you work on it.)

What about Daycares, (chains) that you will be their preferred realtor for all staff / members with a discount to your services with no compromised time..

The possibilities are endless. Organizations, Non Profits, several small business in your town.

Now with all good things their should be a caveat. Not to take advantage of the client- but so you are selling yourself short forever. Offer campaigns with a code on the marketing piece so it has to be mentioned to qualify as well as give specific time frames to take advantage of it.

Keep the companies abreast of what is happening in the market and visit them regularly (every 6-8 weeks) to follow up and stay on their mind.


Create a new Service:

 You and I both know that we probably already have enough on our plate. But with a little structure and some scheduling- you can have several things in line to set you apart from your competition.
For instance: create care packets- as we will call them for the area your clients are looking in when purchasing. (I'm not talking sparkling water...) What I mean by this is to look up schools definitively, closest shopping centers, *find a local restaurant to rave about. Part of buying the house is the experience- and making them feel at home before they move can make all the difference from you and your competition.  A simple word document with local cleaners, auto detailers, restaurants to rave about, schools, and even see if the city/town has a community page so you can print off details of happenings around town for them to familiarize themselves with the area and meet new people.

Last but not least: NEVER SURRENDER.

Being a commission professional is not always easy. Keep your wits about you when things go bad. Being in this industry is not only rewarding and humbling but can take you from the highest of highs to the lowest of lows in an instant. The one thing that will set you apart from your competition is not giving up on your goals. When you do get the client you have been longing for... Remember-
we answer immediately, we underwrite quicker than anything you are going to be accustomed too and we set our business model around being ahead of our competition. Let us take care of them, so you can be sure that you will have one more successful transaction under your belt :)

Signing off,

T.C.Green

Try not to become a man of success, but rather try to become a man of value.

Albert Einstein

Read more at http://www.brainyquote.com/quotes/topics/topic_success.html#bMp35TWdPFlYmOqh.99