Monthly Archives: March 2011

Fonville Morisey Welcomes New Associate Hank Mailand

Raleigh, NC- Hank Mailand has joined Fonville Morisey Realty as a full-time sales associate in the Falls office.

Hank has been in the real estate industry for 35 years, serving all aspects of home sales, construction and community development. He was promoted to Sr. Project Manager and later to Assistant Vice President of Toll Brothers in Orange, California.

Originally from Temecula, California, Hank currently resides in Raleigh with his wife. He has 2 children and a grandson.

Hank is a member of the Raleigh Regional Association of Realtors, the North Carolina Association of Realtors, and the National Association of Realtors.

For more information about Hank Mailand and Fonville Morisey Realty, visit www.fmrealty.com.

Financing Your Home Purchase in the Research Triangle

As the RTP Market Trends Up, Don’t Let Financing Stand in Your Wayhome financing research triangle real estate

If you’re looking to invest in Research Triangle area real estate or you’re in the market to buy the perfect home, consider yourself lucky. Interest rates and prices are still low, making this a prime buyer’s market.

But before you shop for a home, you should evaluate your finances and consider financing options. If your money situation isn’t in order, you could end up finding the home of your dreams only to lose it.

Check Your Credit Score

Acquire a copy of your credit report and FICO score. A mortgage lender will use your FICO score to see if you qualify for a loan or a lower interest rate. The higher your credit score, the better. If you have a lot of debt, pay it down. If you have multiple credit cards, consolidate into as few as possible. And ensure you have no late payments. All of these can lower your FICO score.

Examine Your Budget

Look at your financial situation. Do you have the income to make payments on a mortgage? Consider a scenario where you might face an unexpected expense. Would you still have the funds to keep up with your monthly payments? A budget is a helpful tool to keep track of your expenses. Plan out how much money you will need to spend monthly on things like taxes, homeowners’ insurance, utility costs and maintenance. Include your expected mortgage payment in your budget. Your ability to own a home will become clear as the budget numbers add up.

Consider Your Financing Options

If after the above steps you’re ready to purchase real estate in the Research Triangle, explore some loan options:

FHA Loans—A Great Choice for First Time Home Buyers

If you’re in the market for your first home, you should consider an FHA loan. Though once avoided for the difficult inspection process associated with these loans, the Federal Housing Administration has streamlined the process. Insured by the FHA, this loan offers a low fixed rate, reduced mortgage insurance premiums and more flexible credit approval. As an added bonus, Fonville Morisey Lending Services is an FHA underwriter. This means your loan can be approved at a much faster rate than most other lenders in the Triangle area.

Mortgage Loans—Always Get Input From a Qualified Professional

What if this isn’t the first home you’ve purchased? Our mortgage consultants can still help to find the best loan with the lowest rates. Working locally, we can easily coordinate with your Triangle REALTOR and answer any questions you might have about the mortgage application process.

Investing in a new home is not only a difficult decision but also an exciting one. Take advantage of the financial opportunities available to you. Don’t let your dream home slip through your hands.

Scotty Sings The Blues… And Is Voted Into the Top 10!

It was “Motown Week” on American Idol Wednesday night and our country boy stepped outside his genre comfort zone. Scotty performed the legendary Stevie Wonder’s ‘For Once In My Life’ with his signature deep, twangy voice.  The judges praised him for taking a Motown classic and infusing it with Scotty style. We are proud of him for taking the risk!

The fan base gathered at Garner Historic Auditorium was bigger than ever this week and we all cheered at learning Scotty was safe from elimination once again. In Idol’s most talked about results show yet, no one got sent home when the judges used their one “save” to spare Casey Abrams, the contestant with the fewest viewer votes.

Making it to Week 10  means Scotty will be performing in this summer’s annual ‘American Idol’ tour. We can’t wait to buy our tickets! Stay tuned for next week and keep up the voting.

Achievement Award Earned at Global Real Estate Conference in Las Vegas

Fonville wins achievement awardRaleigh, NC- Fonville Morisey Realty is proud to announce it is the recipient of a Leading Real Estate Companies of the World® Award. The award was presented March 9 at the 2011 LREC Conference at The Cosmopolitan in Las Vegas, NV, which attracted 850 real estate brokers, managers, relocation professionals, sponsors and guests from across the U.S. and eight countries worldwide.

Crown of Excellence

Fonville Morisey received the 2010 Crown of Excellence for their company-size category. This prestigious award is presented to the member firm with the highest point total earned from performance ranking within their company-size category.

Outgoing Referral Production

Fonville Morisey received the 2010 Award of Excellence for Outgoing Referral Production for their company-size category. This award is presented to the member firm with the most outgoing referrals per sales associate.

Outgoing Sales Production

Fonville Morisey received the 2010 Award of Excellence for Outgoing Sales Production for their company-size category. This award is presented to the member firm with the most outgoing closed referrals per sales associate.

Million Dollar Club – Most Outgoing Closings

Fonville Morisey was awarded the Most Outgoing Closings Award for the Million Dollar Club, which is presented to the member with the most outgoing closed referrals with an actual sales price of $1 million or greater.

“Leading Real Estate Companies of the World® is comprised of the finest real estate firms from around the globe, so earning a Member Achievement Award is a great distinction,” said LRE President/CEO Pam O’Connor.  “We are proud to recognize Fonville Morisey for being a true leader in the Triangle market.”

For more information on Fonville Morisey Realty visit www.fmrealty.com or call 919-781-7809.

Research Triangle Residents: Stay Optimistic in 2011

research triangle ncWhile the real estate market in the Triangle finished down 6.7 percent in 2010, the housing market is showing positive signs. Buyers looking for homes for sale in Raleigh and other towns and cities, as well as those looking to sell in the area can take heart that local markets beginning to recover.

Part of the fluctuation in the local and national real estate market a year ago was associated with the expiration of first-time home buyer tax credits, which helped to bolster sales during the first six months of 2010. The resulting downturn for the remainder of the year gave the appearance of a slowing in the market, when it wasn’t the case. Without that, incentive sales should level off and the recovery will be easier to measure.

By the end of the year there was an increase in the inventory of homes for sale, up 2.2 percent. While sales remained down overall, an increase in inventory indicates that market prices are resuming healthy levels. Sellers are ready to get into the market.
research triangle nc
Median home prices are increasing in Wake, Durham, Orange, and Johnston counties – although this may be because of the purchase of more expensive homes, rather than an actual increase in the median prices. Still, purchase of homes on the higher end of the price scale is another indicator of market confidence.

More positive news: Freddie Mac has reported a 1 percent increase in The Index of Leading Economic Indicators for December, approximately double the forecasts. Additional reports show more buyers are entering the market instead of continuing to wait for market improvements.

What does all this mean? Overall the news is positive. Those looking for homes for sale in Morrisville, Cary or other Triangle towns can get off the sidelines and begin their search, and sellers can begin prepping their homes for sale.

Scotty McCreery is Movin' On!

Scotty’s in the Top 11!

We’re not surprised but are thrilled to say that our hometown boy Scotty McCreery didn’t disappoint on last night’s American Idol. Wednesday’s theme was performing a song from each singer’s birth year. After a moving rendition of Travis Tritt’s 1993 song, “Can I Trust You With My Heart,” Scotty had the crowd on its feet and the ladies swooning. What awed Americans nationwide and stunned the judges was hearing his soothing bass voice jump to new heights as he belted out the last chorus at an octave we had no idea he could reach.

The judges affirmed his growth and choice to tackle bigger, stronger, higher notes. The rest of America loves his powerful, stirring voice as much as we do because he was declared ‘safe’ last night and will move on to the top 11. During the show he humbly admitted that growing up, he wanted to be an astronaut ,”but my brains were not astronaut material.” We are glad he’s found his true calling and is instead sharing his gift of song with the world!

Each week Scotty chooses to stick to his southern roots and sing the country songs that are near and dear to his heart. Judge Steven Tyler affirmed him saying, “You just keep knowing who you are and you can go places.”

Stay tuned for next weeks performance (Wednesday and Thursday 8/7c) and keep up the great support and votes.

You can ‘trust us with your heart,’ Scotty!

Fonville Morisey Welcomes New Associate Brittany McCullough

Raleigh, NC- Brittany McCullough has joined Fonville Morisey Realty as a full-time sales associate in the Brier Creek office.

Prior to joining Fonville Morisey, Brittany worked as a Teller for Wachovia in Salisbury, NC and as the Marketing Leasing Consultant for Greystar in Raleigh.

Originally from Salisbury, NC, Brittany currently resides in Raleigh. She holds a Bachelor’s degree in Public & Interpersonal Communication from NC State University.

Brittany is a member of the Raleigh Regional Association of Realtors, the North Carolina Association of Realtors, and the National Association of Realtors.

For more information about Brittany McCullough and Fonville Morisey Realty, visit www.fmrealty.com.

Fonville Morisey Recognizes the Associates and Teams of the Month!

For the Brier Creek office: Tania Tinsley-Little, listing & listings sold associate; Frank Gombatz, selling associate; Capital Group, listing team (2-4); TLC Team, listings sold team (2-4); Kuhlman/Fischer Team, selling team (2-4); Triangle Specialists, listing, listings sold & selling team (5+).

For the Chapel Hill office: Chad Lloyd, listing associate; Kathy Legnaioli, listings sold & selling associate; Pace-Smith & Doan Team, listing & selling team.

For the Croasdaile office: Holly Hayes, listing associate; Cathy Thacker, listings sold associate; Debra Mangum, selling associate; The Kim Hanan Group, listing, listings sold & selling team.

For the Falls office: Susan Ramsey, listings sold associate; Dawn Gupton, listing & selling associate; Betsy Alls  Team, listing team (2-4); Steve Hamilton Team, listings sold team (2-4); Your Triangle Home Team, selling team (5+); Mella Pool Team, listing & selling team (5+); Triangle Real Estate Associates, listings sold team (5+); Burger-Machon Team, new homes listing team (5+).

For the Highway 54 office: Dusty Butler, listing & listings sold associate; Julian Jahoo, selling associate; The Peloton Group, listings sold team; The Mark Stone Team, listing & selling team.

For the ITB office: Suzanne Burton, listing associate; Sheri Hagerty, listings sold associate; Susan Johnston, selling associate; Penny Realty Group, listing, listings sold & selling team (2-4); John & Sandy English Team, listing & listings sold team (5+).

For the Lochmere office: Dorothy Schmelzeis, listing associate; Terry Aitken, listings sold associate; Susan Marum, selling associate; Robinson Bonello Team, listing & listings sold team (2-4); Tull Realty Group, selling team (2-4); Jane Allen Purtell & Associates, listing team (5+); Jeanne Hendren’s TeamSOLD, listings sold team (5+); The ReWard Team, selling team (5+).

For the Preston office: Wesley Carter, listing & listings sold associate; Tracy Santrock, selling associate; RTP Team, listing & listings sold team; The Kowitz/Freund Team, selling team.

For the Stonehenge office: Pat Wray, listing associate; Anne Pickles, listings sold associate; Vicki Robinson, selling associate; Angela Drum Team, listing, listings sold & selling team.

For the Vandora office: Carol Sims, listing & new homes listing associate; Hamilton Greene, listings sold associate; Judy McCreery, selling associate; Veneta Ford Group, listing, listings sold & selling team; Stancil/Raynor Team, new homes listing team.

For the Youngsville office: Jerry Odum, listing associate; Yvonne Scott, listings sold associate; Dinorah Czigler, selling associate; Triangle North Team, listing & listings sold team.

Congratulations to all of these outstanding REALTORS! We are so proud of have you as a part of the Fonville Morisey Team!

Scotty McCreery: American Idol Recap

Moving On to the Top 12!

We were on the edge of our seats last night for the American Idol results show cheering Scotty on and…. He did it! Our boy secured a place in the top 12 and is moving on in the competition. After 30 million fans cast their votes, it was clear that everyone loves his baritone voice as much as we do. It looks like Scotty won’t be headed back to North Carolina anytime soon!

He sang an amazing rendition of Garth Brooks’ ‘The River,’ and the judges were singing his praises. “Dude, this is exactly where you belong,” said judge Randy Jackson, “You could put that out as a record now. I love it. Don’t change it!” Steven Tyler added, “Scotty, you did the Garth justice.”

Check out what country star Josh Turner said this week about Scotty’s idol run. We are so glad to see that Scotty’s down-home, boy-next-door charm is winning America’s hearts like it does ours.  We can’t wait to see what he pulls out of his cowboy hat next week- keep up the great support! Learn a bit about Scotty’s background and see more of his performances here.

Don’t forget to tune in on Wednesday and Thursday this week, 8/7c, and to vote for Scotty!

Refinancing Your Home: Hope in The HARP

If you’re not able to take advantage of lower interest rates to refinance your home, you’re likely dealing with one of these scenarios: low credit scores, low equity in their home, or a lack of income. But there is an option, the Home Affordable Refinance Program, or HARP.

What Is It?
HARP — a 2009 initiative by the Obama administration that is set to end in June — is designed to allow homeowners to refinance their home with a low-interest, fixed-rate loan. The best part of the program is that the home can be refinanced even if the amount owed on your current loan is more than the home’s current market value. That condition, known as being “under water”, has affected many homeowners during the recession.

Who Qualifies?
To qualify for HARP financing you must own a one- to four-unit home, and the mortgage must be carried or guaranteed by Fannie Mae or Freddie Mac. The home does not have to be your primary residence. You must have not missed a mortgage payment in the last 12 months (or been more than 30 days late on payment), and you must be able to prove that you will reasonably be able to make the new payments. The refinancing program does not affect your credit and is not dependent on your credit score. The program is also available for second mortgages with lender approval.

How to Apply
Request a free evaluation to see if you are eligible. Be sure in your research or in discussions with loan officers that they understand you want HARP financing (not HAMP, the Home Affordable Modification Program). Once you have preliminary approval you can begin the process.

The program expires in June, so don’t wait. Having a qualified lending and financing specialist can help move the process along, and Fonville Morisey has the expertise to make sure you have the best chance of obtaining HARP financing. Visit www.fmlending.com for more details.