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Home Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

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International Paper in Franklin to close up 1100 People lose their job

10-24-09
Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

http://www.wavy.com/dpp/news/local_news/local_wavy_franklin_paper_mill_announcement_expected_20091022

Read the link above.

Wow Im thinking what is Franklin and the surrounding areas going to do ? My family has extended family that work at the paper plant and have started to get very concerned about what is going to happen to thier family and home. Im at a loss of thoughts at this point. I know the surrounding areas are going to be grossly effected by this. So with the 1100 losing their job what will that do in the ripple effect ? Great news Tim Kaine is promising to help but who is going to help the surrounding cites and the local stores who will have to close up shop. RICHMOND, Va. — Calling International Paper Co.’s plan to idle its Franklin plant “a deep blow” to Virginia, Gov. Timothy M. Kaine is promising help to the nearly 1,100 families affected by the closure. I hope this is not something that kill this little town. Places like Como, Courtland, Suffolk. are going to feel this as well. Kaine said Thursday that he would direct the Virginia Employment Commission to dispatch an economic crisis strike force to Franklin within the coming days. The world’s largest maker of cardboard box materials announced plans Thursday to cut 1,600 positions in four states as it brings capacity in line with sharply diminished demand. Besides the Franklin plant, the company plans to close plants in Albany, Ore., and Pineville, La. It also is permanently shutting down an idled mill in Valliant, Okla. SOURCE : http://blog.taragana.com/n/va-gov-vows-aid-to-1100-families-affected-by-international-papers-franklin-plant-closure-203983/

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Why are the little ones the hardest ?

10-19-09
Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

Argh !!! Why oh why when you really want to help the people we perceive to need the help most does it end like this. I met buyer A via my webpage. Wonderful sweet buyer with a nature willing to do what it took to be a home owner. We set A up with X lender and got the loan approval go ahead. Now the fun part looking looking looking. It took several weeks to locate a home that was in tip top shape as buyer A was not able to do anything to the home and needed it move in ready. I was so happy when I was given the name and number of seller from someone on my team. I called I met the seller and it was a perfect match a home that would be renovated from top to bottom in a great area for 92k. Buyer A was on cloud 9 and so was I . We opted to extend the closing by 60 days to give seller the time to do all the things asked for. During the that time Lender X was starting to falter with the loan app and asked for more and more information. I even had them telling me they though buyer A was not who they were via photos on the ID. I also faced the challenge of Lender X wanting to force new loan guidelines on buyer A because we had not closed yet. I was jumping through hoop after hoop and so was buyer A. I was getting more and more ticked as Lender X just kept coming up with more and more things they wanted. We know this was going down hill like a speeding truck. I asked Seller would they extend the closing to allow the buyer to get the loan approval. TO my disbelief the seller did . We needed early possession now too because buyer A had given notice to the apartments 2 weeks prior AFTER the bank requested a 2nd appraisal and it came in at value. We had no reason to think up to that point we would not close this loan. To end the story here is were we are. 1. buyer had to find a home 2. seller was not able to give early possession 3. lender will most likely issue a loan denial today after 60+ days 4. Contract will be released today In 8 years I can count on one hand my contracts that have not closed. It really tics me off this was only 92 k COME ON People is what I wanted to say . I feel horrible for the buyer she had to scramble at the last minute to find a home and the seller is not left trying to sell a 2 bed 1 bath house in this market ! THANKS LENDER X !!!! ( company that is not the person ) You know I think we did what we could. The only regret is not switching companies faster to see if its Lender X or the loan ?

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Market Trends

08-10-09
Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

Hampton Roads' Real Estate market is in good shape.

I'm a full time Realtor in the Virginia Beach, Norfolk, Chesapeake, Suffolk sales market. I don't think Short sales and REO's are taking over the market. I do think there is a good inventory of homes to choose from of these types of homes but I also see a lot of traditional listings. Sellers are understanding the values and the market now and I think are getting used to offers that are asking for closing costs or price reductions.

If you're a buyer and you're still thinking asking yourself, "Is this the right time to buy?" I want you to consider this. The bottom may have been hit and sellers took about 1.5 years to say to themselves, "Hey, we are in a buyers' market." Really, it's like a perfect storm for you .

NOW is the time to BUY! With the credits, the flexible sellers, and the inventory, you might just find your DEAL of the century. It was only a few years ago that people where kicking themselves because they did not buy BEFORE the values sky rocketed.

Will you be sitting there again saying to yourself, I missed it again? I'd love to talk with you. My team has over 60 listings, many are steals, deals and bargains. Let's get you loan approved and into a home before the sellers' market returns!

Southside reports :

Active listings are above 2007 by 801, but down by 433 from 2008 levels. Listings are slowing, when the inventory drops you start to see a swing to the seller market. Demand goes up and prices do too.

Pending sales are up and settled sales are steady. I wonder if that is a reflection of all the short sales and REO's that still need to close?

Off market time increased by 12 days from 2008 and sold times increased by 13 days.
Membership for REIN is also down. I guess with the market, members might be looking at getting other jobs.

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Bayside

08-10-09
Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

Great, will my property taxes rise again?

I'm 2 days behind in reading the newspaper so this may not be new to some readers. WHAT? RAISE TAXES!!!!! That's what I was thinking when I read that the city is looking to build or improve some Bayside centers. Projects to be included are an animal shelter and a Bayside recreation center. I thought, "Wow, there is a really nice rec center on First Court Road. I wonder how full it is? I wonder if it's so full they need a new one?" I have to admit the animal shelter might be a needed project but with these new buildings comes additional expenses, staff, utilities. I don't think they are going raise the tax then lower the tax once the projects are completed. I wonder, can't they find the money somewhere within the system already?

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FHA Loans and Shortsales

08-03-09
Alison Creamer, Realtor, ABR, CDPE Virginia Beach , Virginia

Did you know? If you are using FHA loans, you better be sure the home you have been eyeballing has been in the current owner's possession for at least 90 days. With all these short sales, investors are snapping them up and selling them within 30 days. When you walk into a vacant, updated home, always ask, "IS THIS A FLIP??!!!!" The last thing you want is to find out is that you cannot get your loan.

Here are some red flags to keep an eye for:

RED FLAG 1. The home is vacant and totally updated
RED FLAG 2. The seller is an LLC
RED FLAG 3. The name on the tax record and the person selling it are different. ASK!

Currently, you cannot even contract on the home within the 90 days of a new owner purchasing the home. The best you can do is on the 91st day, WRITE THE OFFER!
You can still do a loan application and know you are set but you cannot contract on the home.

I would love to talk with you about other options if you have to have that home!

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