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.