High Point, NC Real Estate News

By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughnIn Part One of this series, we looked at how important it is to Find Out What is on Your Credit Report.  Once you know what is there, you can either move to the next step - obtaining mortgage pre-approval or working on any credit issues that may keep you from obtaining pre-approval.  This is very important to your success in purchasing your new home in today's "credit crunch" climate.In Part Two, we discussed the importance of Obtaining Mortgage Pre-Approval before you start looking at homes you might want to purchase.  Without a Pre-Approval, you don't know how much home you can afford so you might wind up falling in love with a home that is out of your price range and wasting your time...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughnIn Part One of this series, we looked at how important it is to Find Out What is on Your Credit Report.  Once you know what is there, you can either move to the next step - obtaining mortgage pre-approval or working on any credit issues that may keep you from obtaining pre-approval.  This is very important to your success in purchasing your new home in today's "credit crunch" climate.In Part Two, we discussed the importance of Obtaining Mortgage Pre-Approval before you start looking at homes you might want to purchase.  Without a Pre-Approval, you don't know how much home you can afford so you might wind up falling in love with a home that is out of your price range and wasting your time...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughnIn Part One of this series, we looked at how important it is to Find Out What is on Your Credit Report.  Once you know what is there, you can either move to the next step - obtaining mortgage pre-approval or working on any credit issues that may keep you from obtaining pre-approval.  This is very important to your success in purchasing your new home in today's "credit crunch" climate.In Part Two, we discussed the importance of Obtaining Mortgage Pre-Approval before you start looking at homes you might want to purchase.  Without a Pre-Approval, you don't know how much home you can afford so you might wind up falling in love with a home that is out of your price range and wasting your time...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughnIn Part One of this series, we looked at how important it is to Find Out What is on Your Credit Report.  Once you know what is there, you can either move to the next step - obtaining mortgage pre-approval or working on any credit issues that may keep you from obtaining pre-approval.  This is very important to your success in purchasing your new home in today's "credit crunch" climate.In Part Two, we discussed the importance of Obtaining Mortgage Pre-Approval before you start looking at homes you might want to purchase.  Without a Pre-Approval, you don't know how much home you can afford so you might wind up falling in love with a home that is out of your price range and wasting your time...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughn In Part One of this series, we looked at how important it is to Find Out What is on Your Credit Report.  Once you know what is there, you can either move to the next step - obtaining mortgage pre-approval or working on any credit issues that may keep you from obtaining pre-approval.  This is very important to your success in purchasing your new home in today's "credit crunch" climate.In this segment, we are going to look at the next step you should take once you know what is on your credit report and you have corrected any issues of derogatory items.  That next step is:Obtain Mortgage Pre-Approval Mortgage Pre-Approvalis a term that is sometimes confused with Pre-Qualification.  The two...
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By Don Draughn - Mortgage Professional
MORTGAGE PLANNING TIPSFrom the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Every renter needs to ask themselves a question, "WHAT DO I HAVE TO SHOW FOR MY RENT PAYMENTS AT THE END OF MY LEASE?"  When you do you will only find two answers:A place to live. A nice, neat stack of cancelled checks.You really don't have much to show for it do you?There are many benefits to owning your own home.  Here are just a few:A home you can call your own!  A home you can do what you want to with!  You want to paint the walls pink with stripes - you can do it!  You want to shout and scream in the middle of the night - you can do it!  You want to show all your friends and co-workers that you are successful and moving up in this world - you can do...
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By Don Draughn - Mortgage Professional
MORTGAGE PLANNING TIPSFrom the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn   The Five Factors of Credit Scoring  MyFico.com has shared information regarding the credit scoring model.  Consider these five factors when trying to improve your credit. Payment History has a 35% impact. Paying debt on time and in full has a positive impact, and late payments, judgments and charge-offs have a negative impact.Outstanding Credit Balances have a 30% impact. Debt ratio of outstanding balance to available credit is important.  Keeping that below 50% is wise and below 30% even wiser. It is never a good idea to close an account; the debt ratio will go up and the number of seasoned lines will decrease. Pay outstanding debt down as close to ze...
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From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Over the last year, the mortgage industry has gone through a tremendous amount of turmoil.  Some banks cut back drastically on the loan programs they offered.  Others added some more stable loan products to replace the ones they discontinued.  Still other banks just went out of business all together.  For some people, it is hard to know if purchasing their first home is even possible.  Hopefully, the next few paragraphs will be useful to help the First Time Home Buyer wade through all the mire and muck of mortgage lending and give them the opportunity to realize the American Dream of home ownership.What should the First Time Home Buyer be prepared for when applying for a mort...
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From the Desk of Don Draughn, Professional Mortgage Consultant  The Top Ten Credit Dos and Don'ts During the Mortgage Loan Process  Keep in mind the actual lender will pull their own credit report at closing, and if your credit scores have dropped, you may no longer qualify for the rate that was underwritten and the final approval may come back with a higher rate. Unfortunately, all lenders qualify you by your credit score as to which criteria you fit and every loan has different criteria attached. The loan to value, the debt to income ratio and so on etc. This is what borrowers do not understand, and they think the loan officer is baiting and switching. They are not. If an issue comes up that the lender decides you do not qualify for a certain loan, the only thing a loan officer can do...
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By Adrienne L. Jones, GRI
(Coldwell Banker Triad, REALTORS)
Coldwell Banker Triad, Realtors Investor's Tour of HomesSaturday, January 26, 20089:30 am to 1:00 pmThis tour is for the public to preview properties listed in our office that are priced from $27,000 to $100,000.  This includes houses, condos and duplexes.  Some properties already have tenants in place and some properties will make perfect starter homes.  FREE Tour Books with addresses, maps and prices can be picked up at the Coldwell Banker Triad office in High Point at 2212 Eastchester Drive.  Call (336) 410 6859 for more information.
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By Adrienne L. Jones, GRI
(Coldwell Banker Triad, REALTORS)
Hi All, I'd like to thank you all for your comments and encouragement.  I especially want to thank Michael K. for sharing the link to the marketing to women media kit.  I've downloaded the pdf file and it will definitely help in my research and planning.Rondel W's. post prompted me to do a little quick research on the average home price in my area to justify my assumption that single person home purchase is a realistic option in my local market and the potential of my chosen niche to be profitable.  So, I went to the MLS to get some numbers.  The average price of homes sold in High Point, NC during the 1st Quarter of 2007 was $161,894.  Not bad but that number alone is not enough to justify my original assumption.  I still need to research the income level of my target market in the are...
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