Did you know that we've had 11 featured posts (that I can find anyway) in North Carolina since the beginning of the year?
In these featured posts, the NC group told folks about Twitter Problems, How to set up your New Blog site, How to do a Slideshow in your Post and How to Maximize Hubspot!
We're on top of it!
But there were some other great posts too... and those are the ones I'd like to highlight now:
Cynthia Tilghman wrote about Active Duty VA benefits, and I thought it was great because these guys need jobs when they get out! Getting further Education NOW will give them that "leg up!"
Suzie Blackmon continues to be one of my favorite photographers and bloggers... I especially liked, Stop Feeling Sorry For Yourself!
Craig Rutman (you should subscribe to him!) wrote about "Control Top, No Fly, Mild Support, Microfiber ThermoFabric with Enforced Toes" that had TEARS streaming from my eyes it is so funny! Apparently, he's also famous, and this was pretty cute too!
Dave Park the Mavrick Builder is writing inspiring notes for your business, Jay Williams wrote about 203K loans... and Marybeth Barrett wrote about 2009 Color Trends! I thought this was one of the best posts I read (and I read 29 pages of posts!) Eleanor Thorne wrote about the fact that rates are going up, if your score is less than 620! 8-(
Brian Belcher wrote about ACC Basketball... and DAVIDSON (they are Smokin' right now!) and Sandy Aichner wrote about zMAX Dragway! FUN!
I also want to send a shout out to Matt Huband in the Outbanks. He has been blogging on AR since July of 2006 - and did a really great Hello! to 2009! The Good News is that Business is Picking up!
If I have not added you as an Associate in NC - please let me know!
Obama recently said he wanted to hear the ideas "out there" for a better stimulus package. Paul Krugman, who recently won a Noble Prize for his Economic Genius, has some ideas... and he recently shared those with Rolling Stones!
In his post, Krugman notes... "One more thing: even with the Obama plan, the Romer-Bernstein report predicts an average unemployment rate of 7.3 percent over the next three years. That's a scary number, big enough to pose a real risk that the U.S. economy will get stuck in a Japan-type deflationary trap."
This doesn't sound good...
According to Krugman.. "There's nothing to suggest that the plunge in the job loss will end anytime soon." He specifically thinks that we need a program on the scale of the "New Deal." He suggests that cutting taxes will help... but with unemployment headed to a number above 8%,
we need J-O-B-S!
Bernanke also spoke today from London about what the Fed can do to further slow down the drop in property values and bolster the global economy... although Krugman notes that there's really not much more the Fed can do...
The Fed leaked in late November that they intended to push mortgage interest rates lower. IMHO... this is what is truly needed. Any program that will ACTUALLY get us below (or to) the publics' "magical" 4.5% - THAT'S what Obama needs to do, and do it QUICK! I say this BECAUSE I believe that there are people out there who can purchase, and they are waiting for the "bottom." The lowest mortgage rates since World War II would be a great sign!
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On a separate note (in response to Lenn and Aaron) here are my opinions:
Lenn has suggested on multiple occasions that a plan floated by my Congressman, Rep Miller, to allow Bankruptcy Judges change the Principal Balance on the mortgage loan is a good one. I disagree. One of the reasons Mortgage Interest Rates are NOT where they should be (in the low 4's) is because NO ONE is purchasing mortgages. IMHO, allowing a judge to set the "value" and forcing a cramdown is not the best alternative. Do I think Banks SHOULD accept Cramdowns, and re-negotiate Principal Balances, absolutely - but I think it's more fair, and would stabilize overall markets better if there was a MECHANISM (other than Bankruptcy) that would force Bank's to do what they are suppose to be doing. We FURTHER jeopardize the flow of Mortgage Backed Securites with Rep. Miller's plan.If you have questions about which way mortgage rates are headed, call us, we'll certainly share our opinion!
National Association of HomeBuilders is suing to retain the ability to control mortgage lending! WOW! 
Who's surprised by that??
According to Inman News: "Federal housing regulators have agreed to delay for 90 days implementation of a rule change that would bar home builders from offering consumers incentives when they agree to use builders' affiliated mortgage and title insurance companies."
We've seen first hand how well the affiliated mortgage companies work! We were told last month by a CTX onsite agent that it was AGAINST THE LAW for the buyer to use someone other than THEIR mortgage Company!
We have builders here who are charging you $12,000 more on your home - just so you can take advantage of the financing package!
Builder Controlled Mortgage Groups have the wrong perspective! Let's keep our fingers crossed that they do not remain the "norm."
If you have questions about alternatives to the Builder's Mortgage Group - Call us!
Just received an update from a MAJOR investor that credit scores less than 620 are going to be priced SIGNIFICANTLY higher beginning Monday, January 12, 2009.
This is significant for folks who are purchasing, and using USDA or FHA/VA financing tools. The "hits" for scores between 600 and 620 today are .25. Meaning that it costs us almost a quarter of a discount point more to do a loan with those scores. In most cases, this means we can still get a rate of 5% for these folks.
According to the news bulletin, the new cost for doing a government loan with a credit score between 600 and 620 will be 1.25%. Now that could mean that someone with a 617 score (I have a borrower right now with a middle of 617 and no lates in the last 5 years) would suffer... because their BEST RATE (with new pricing) is 5.5%!
Because of the rate spread loan rules in NC, this means that many people with credit between 580 and 600 (that cost goes to 2.0%) - might not be able to get financing! If you are considering a new mortgage, or you would like to refinance, let us look at your credit first, and see what might need to be done to improve your score! Steve and Eleanor Thorne
In December of 2007 I wrote about the Wake County Public School Board's decision to move kids around (click here), and force year round schools. Many people felt that the Board's decision to move kids to keep an economic balance was the "best" of all opportunities...
The US News and World Report just released the "Best High Schools" in the Country - and Raleigh Charter is listed as number 25! Whow Who! It's a Charter School, not one of those with kids that have been moved all over the county. Look at the stats in this report... does it support being the BIGGEST school system as being the BEST school system?
There are more Board of Education sessions coming for parents to speak out. Go ahead, speak out... but what's really going to make a difference is finding new members to run. We need a change. Bigger is not better.
If you have the experience, and the desire, and the GUTS to buck the system... we want YOU to run for Wake County School Board Member! ... anybody wondering how I REALLY feel???
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I see myself differently than most loan officers in the Cary/Raleigh market. As a rare Cary native, I see myself as an expert on the area, on mortgage industry changes and factors that affect rates!
Who We Are
I am privileged to work with my husband, Steve, in an area we both love. When my family moved to Cary in1968 the population was around 7600. Today, we are the seventh largest metropolitan area in the state with a population of over 125,000! Steve and I met at Cary High School, and we remember when Kildaire Farm Road had a couple of FARMS on it and the Cary Parkway was just a good idea.
I'm second generation "mortgage." As I grew up in a home where everyone spoke about the economy and the mortgage and real estate business... I'm an Economic News Junkie and often write about events moving mortgage interest rates. It's important to me that folks understand that I'm not writing about the "gloom" and "ruin" of the mortgage industry - I'm simply looking for lower mortgage interest rates. Typically, bad news in the economy spells good news for mortgage interest rates.
Steve and I were named one of the top Origination Teams in the State (by the NC Association of Mortgage Professionals) and Mortgage Originators Magazine. As entrepreneurs, one of our companies received the coveted Triangle Fast 50 Awards by our Business Journal three years in a row.
Our Commitment
We've been involved in Mortgage Lending since the early 1980's. There is a vision that drives us to do what we do. Simply put, we want to help you create the financial strategy that allows you to live life to the fullest. That requires that together we establish goals, define priorities and determine what's most important to you.
On any given hour of a day, mortgage lending experiences subtle shifts that can create huge forces of change for our customers. We are dedicated to a life of continually educating ourselves in the broad areas of economics, politics and financial planning... and of course we stay on top of the Mortgage Industry News too!
Our Family, Our Community
As active members of the Cary Chamber of Commerce, the YMCA and our church, we have become friends and mentors to local businesses and charities. We've worked hard to raise money and awareness for the "We Build People Campaign" at the YMCA and the American Cancer Society "Relay for Life."
Our unique family dynamic includes a middle school daughter, a son who is at Western Carolina University, a small Japanese Chin (named Lucky) .
I'VE BEEN HACKED!
hi. my name is Savannah Leigh Thorne. i am Steve and Eleanor's daughter, and i feel very strongly that my mom hasn't truly explained our family. so here it is. we are a simi-normal family getting by comfortably in soccer mom territory, also known as the suburbs(not my first choice. but its ok, i still have plenty of fun). we love to do allot of things as a family. my dad and I like to go to the YMCA (conveniently located up the street from us) and play plenty of sports like tennis and swimming and on the occasion even jogging(once again, not my first choice). My older brother is one of my heros, we are 12 years apart and have way too much fun together. my mother often looks at us with a very confused face and asks us why are acting like brothers and sisters.. of course we all start laughing and say "i guess someone didn't get the memo!". speaking of my mom. something you might not know about her is that she is possibly the most creative person i have ever met. she is constantly finding new ways to make something in (or on) our house look amazing. i like to think that's where i get my creativeness from. So anyway. the last thing you should know about our happy little family is that we are very musically inclined. My dad and i will stay up all night playing guitar and piano and singing, of course my mom and brother will join in on the singing too, but its what we do. we may be embarrassing, and we do have our "un-happy" moments. but for the most part were just like ever other typically untypical family. :)
LOVE,
SAVANNAH LEIGH THORNE
Our Company
First Financial Services is a NC owned mortgage banker / broker. We are authorized to handle FHA, NC Housing, VA, USDA... and represent an array of conforming, conventional lenders. We have offices in NC, SC, Virginia and DC. Our team is built upon the same foundation we built our business relationships on. We constantly strive to build a team that embraces and adheres to the values we consider most important... as one of our clients you can be assured that everyone on our team to look out for your best interests!
In most cases we are able to allow our clients to lock into an interest rate and float down if the market improves. We educate our customers on market conditions, and the events that might change those conditions, as we help find the BEST solutions for your situtaton!
We are fortunate to have expertise in helping folks make minor changes to their credit files - as those minor changes to improve a score can make thousands of dollars worth of difference over the life of the loan.
For a more information about Cary check this out or CLICK HERE!
We are helping host RE BARCAMP for the Raleigh Area on November 6 from 10 until 4. This is an interactive meeting aimed at Raising The Bar on Social Media Marketing in the Real Estate World! Follow us #REBCRDU
If you are an agent, or a lender looking for an interesting way to get more people interacting with you, click here.
In addition to the information we post on Activerain, you might find what you are looking for at another of our websites! For instance, we have hundreds of properties (each with their own websites) at STEVE THORNE ONLINE. We also post maps, and qualifying information about ALL Government Loans at NC FHA EXPERT. We've met dozens of people this year who are struggling with ways to improve their credit - and maximize their FICO so that they can get the best rates. Because of this, we created a site dedicated to the question, 'HOW TO IMPROVE MY SCORE." We also have local housing trend information, quirky insights, and networking information about this area at this site. Triangle Area Recognition: Recent "Best Of" Awards
Men's Health
Magazine ranked Raleigh the most politically engaged city in America.
The rankings were based on percentages of active registered voters, ballots counted, percentage of income donated in the current presidential election, campaign spending, votes cast in the 2008 primary and votes cast in recent elections for governor and senate - Men's Health magazine, September 2008
Milken Institute: A Best Performing City
The Raleigh-Cary metropolitan area is ranked number two in the nation's "Top 100Best Performing Cities" in an annual economic performance index released by Milken Institute/Greenstreet Real Estate partners. The annual study ranks
metropolitan areas by how well they are creating and sustaining jobs and Economic growth. The Raleigh-Cary area rose from number 10 in 2007 - September 2008
MSNBC: America's Best City
MSNBC.com ranks Raleigh America's best city! "Raleigh, N.C., it seems, is the best place to be in the U.S. right now. It ranks No. 1 in Forbes' 2008 list and was also top in 2007 - consistent placement among these lists is truly rare. It ranks No. 2 in Kiplinger's list this year. The city is also Fortune Small Business magazine's No. 20 place to live and launch." -- June 2008
Kiplinger's: A Top Urban Area
Kiplinger's Personal Finance names the Triangle the second best urban area in the U.S. It highlighted undeniable date: population growth since 2000 of 19.9 percent; percentage of the work force in the creative class, 36.1 percent; cost of living index, 99 with 100 being the national average; median household income of $56,150; and income growth of 10.3 percent since 200. This ranking dubbed Houston the best in America and Omaha, Neb., the third best. -- July 2008
Forbes: Recession-Proof Local Economy
Forbes magazine ranks the Triangle's economy as fifth on a list of 10 recession-proof local economies. -- May 2008
Best Place For Young Adults
A study conducted by American City Business Journals ranked the Raleigh-Durham
market as the best in the nation for young adults, defined as ages 20 to 34. The
study examined 10 factors, including growth rates of employment and per capita
income, unemployment, percentage of people holding bachelor's degrees and
median rent in the nation's 67 largest metropolitan areas. Austin was ranked
second, Washington, D.C., third. Charlotte placed seventh. -- May 2008
Fortune: A Best Place To Live And Launch
Raleigh's growing tech industry, support of entrepreneurs and the $2.5 billion
renaissance downtown place the Capital City at No. 20 in Fortune's "Best Places to
Live and Launch." -- May 2008
Rachel Ray: Best CityFor Singles
Raleigh is named The Best American City for Singles" in Every Day with Rachel Ray
magazine. - - January 2008
"If we study the lives of great men and women carefully and unemotionally we find that, invariably, greatness was developed, tested and revealed through the darker periods of their lives. One of the largest tributaries of the river of greatness is always the stream of adversity."
Cavett Robert
"This day is all that is good and fair. It is too dear, with its hopes and invitations, to waste a moment on the yesterdays."
Ralph Waldo Emerson
"Any mans life will be filled with constant and unexpected encouragement if he makes up his mind to do his level best each day." Booker T. Washington
"It is impossible to get the measure of what an individual can accomplish, unless the responsibility is placed on him."
Alfred Sloan
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"Of course there is no formula for success except perhaps an unconditional acceptance of life and what it brings."
Arthur Rubinstein
"I can accept failure. Everyone fails at something. But, I can't accept not trying."
Michael Jordan
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