April 8, 2009 Sandbridge Beach - my morning view! I love the smell of the morning ocean air and the sound of the ocean. 04/08/2009

I was driving home from a listing and had my trusty camera, a Panasonic DMC FZ 18 with me.  I love this camera because it not only has a 28 mm wide lens but it also has a telephoto that can go out to almost forever.  This was taken from The Lakes subdivsion in Virginia Beach. This is at 28 mm wide.   This is about 500 mm This is about 700 mm with what Panasonic calls EZ Zoom (not digital zoom) http://www.geneallen.com/  Come and see ALL the Homes for Sale in Virginia Beach, Chesapeake, Norfolk, as well as the rest of Hampton Roads.  This site is updated daily with new real estate listings, pictures and other information vital to your home search. Google gene allen       04/05/2009

Power Broker Report The 2009 Power Broker Report is out from Rismedia.  The most amazing thing about this report is how many times you see the name Keller Williams.  Be sure to check out 2009 Companies to watch! Check out this link for the report: http://tinyurl.com/dxsv6j   Go KW! 04/02/2009

YOU DON'T HAVE TO BE A "FIRST TIME HOMEBUYER" TO BE A FIRST TIME HOMEBUYER. WHAT??   That's right!  What is the definition of a first time homebuyer according to VHDA? Eligible borrowers can not have owned a home for the previous three years.       Same goes with receiving the $8,000 first time homeowner tax credit.  You can apply for and receive as long as you have not owned a primary residence within the past 3 years.  That means even though you may have owned a home before you are eligible to apply for the "First Time Homebuyer" program AND receive the "First Time Homebuyer Tax Credit"     With housing prices being affordable, interest rates are low, and a huge tax incentive to purchase a home.  We can work with you on getting you back into the "American Dream" of owning a home even ... 03/31/2009

I am writing this particular blog because I think it needs to be addressed.  I have had 2 experiences this week that I hope isn't happening to everyone. Scenario 1 : Realtor has been showing homes for 2 weeks to a buyer who says that they have great credit and income.  They wrote an offer and now want me to write an approval letter to submit the contract.  I take the application and guess what....498 credit score.  The realtor was too afraid to offend the client because they insisted they had plenty of income to qualify and wanted to get the contract.  Well, now after showing multiple properties and spending hours with the client I am now the bad guy because now they can't sumbit the contract.   Scenario 2 : I was referred a potential buyer from a realtor and they do have great credit a... 03/27/2009

Our Market Center is going to be walking in the March of Dimes Walk here in Virginia Beach, 4/26/2009.  What a great cause and a fun time.  If you have never walked in the event at the boardwalk you should try it.  Lots of people, great music, lots of energy and sometimes it's pretty emotional.  Bring your spouse and kids!  If you cant make it to walk and raise funds, please donate $$$ to the cause.  You can register online or make donations online, my March of dimes website is: http://www.marchforbabies.org/dougwolfe Please visit and register or make a donation! 03/27/2009

If your waiting for the real estate residential market to bottom out, I believe the time is near. When we reach the bottom, a lot changes in the ride up from the bottom--price of Homes increase; interest rates go up, and inventory of Homes goes down. Anyone in the market to buy a Home "cheap", don't wait too long or it could pass you by. Listen up 1st time Home Buyers and relocating Retirees! Buy low now! As you know, currently, prices of Homes are low, interest rates are below 5% and a large inventory of Homes are available in all price ranges. Additionally, if you know of anyone that is a first time Home Buyer or hasn't owned a Home for 3 years, then an $8,000 Federal Tax Credit is available from the Government, with no payback requirements. In many parts of the country, a Home Buyer ... 03/26/2009

  This is to let you know that according to Mortgagee Letter 2009-08   that effective April 1, 2009 you will be limited to a maximum of 85% cash out.  So if you are looking to get the 95% cash out limit you will need to get your FHA case # prior to April 1, 2009.  So you will only have a few days left if you are needing to go the 95% limit. Here are the new guidelines summarized for the 85% FHA Cash Out Limits : Combined Loan To Value = max 85% Must have owned the property at least 12 months to get the 85% of the appraisers estimate You cannot be behind in your mortgage 2 appraisals will be needed for loans over $417,000 You cannot have a non-occupying co-borrower to qualify for the new cash out limits Must be done by a FHA approved lender or correspondant             03/26/2009

I wanted to introduce a store in Virginia Beach that I had the pleasure of shopping at this past weekend.  It opened up in November and had no idea until a friend told me about it and wanted to share with everyone!   Apricot Lane is a cute little boutique with women's clothes, accessories, handbags and great deals! The girls that worked there were very friendly and there to make your shopping experience fun!  Apricot Lane 1860 Laskin Rd Virginia Beach, VA 23454 (757) 422-5263           03/24/2009

  The VHDA FHA Plus program is still available for first time homebuyers to purchase with no money down.  You need to qualify for a FHA loan and VHDA offers a 5% 2nd to assist with downpayment and closing costs.  Both the 1st and the 2nd are the same rate.  Qualifications : First Time Homebuyer ( not owned a property as primary residence in 3 years) 3 years tax returns Complete VHDA's Homebuyer class There are other programs available to assist with first time homebuyers and at New American Mortgage we will be able to assist you with the homebuying process.      03/20/2009

Every year the HamptonRoads area has the "Best of" for each city that residents get to acknowledge their favorite local businesses.  This year we are looking for your help in support of The Best Mortgage Company and The Best Reverse Mortgage Company at New American Mortgage. I will make it really simple for all to vote. Text to “74568” and enter the code (message) “5121913” for Best Mortgage Company Text to “74568” and enter the code “5206913” for Best Reverse Mortgage Company You can also vote online at HamtonRoads.com.  This really means alot to us here at New American Mortgage!   ***only one vote per cell phone*** YOU HAVE MY PERMISSION TO REBLOG THIS - I WOULD LOVE TO HAVE AT LEAST 5,000 VOTES! THE CONTEST ENDS MARCH 31, 2009.   03/18/2009

There are many reasons why I decided to make Virginia Beach my home.  I have gathered some interesting information that may help you decided to pick Virginia Beach as your home as well.   Virginia Beach is the 42nd largest city in the United States. Virginia Beach is the most populous city in Virginia. Virginia Beach has one of the lowest crime rates in the US for a city of its size according to FBI statistics. Virginia Beach is home to 12 military installations. Virginia Beach voted "Best Place to Live in America", USA Today Weekend magazine. #2 in Best 100 Places to Raise a Family, Best Life magazine. Top 10 in Black Enterprise magazine 20 Best Places to Retire. Top 10 Best Cities for the outdoors, Forbes magazine. Top 10 Best Cities to get a job, Forbes magazine. Most livable large c... 03/18/2009

 Technology is Awesome!  Our MLS, REIN, has entered the realm of Forms online, True Forms.  This has been a long time coming and as I have told my agents; "REIN is not going to go back to paper so you better learn and embrace this new program".  Actually it's not that new, it's just new to some.  I have spoken with several agents that have been using some electronic forms for years.  True Forms is designed to hold hands with REIN, it also works with Docusign.  Docusign allows you to have all documents signed electronically.  True Forms is included in your REIN fees but Docusign is an additional charge of $12.95 a month.  If you are using the full package of tools,,,no more paper!  Yes, I know some clients may not have email or may not be comfortable with electronic signatures, but more ... 03/16/2009

Last week we had another great turnout of 60 people attend the Networking With Social Media to Generate Leads with the Hampton Roads Internet Marketing and Technology Group.  Keith Parnell of the Jase Group was our featured speaker and really did a great job getting the crowd excited about all of the new ways available to generate leads. I have enjoyed these monthly meetups to get the opportunity to learn, network and of course have a great time!  This is a group where you can be a newbie or experienced guru.  We have such a wide range of people that attend!        If you didn't get the opportunity to attend - that's ok because we also have it on video!    And you should check out Kieth's "Coffee With The CEO" series!       03/16/2009

Virginia Beach and Southside Virginia residents will no longer have to make the treck over the bridge and through the tunnel to get to Trader Joe's in Newport News! The sign is up, the shelves being installed and it appears will be opening in the next few weeks. This Trader Joe's is located in the Hilltop Plaza Shopping Center, to the southwest of the Laskin Rd/First Colonial Rd. intersection.  It occupies a portion of the space where the North Carolina Company used to be. Here is a link to Trader Joe's "Fearless Flyer" newsletter for Virginia. Trader Joe's was originally founded in 1958 as Pronto Markets.  In 1967, the name was changed to Trader Joe's.  There are now more than 300 stores in 25 states and DC.   03/16/2009

What is YEHR? It is YOUNG ENTREPRENEURS OF HAMPTON ROADS.  It is a group of professionals 40 and under in the Hampton Roads area where you can grow, network and learn from each other.  I had the privilege of going to my first meeting last night and was very impressed with the turnout.  It was a room full of young professionals with alot of energy, motivation and just all around great group of individuals.  The format was different than other networking groups.  We had intros, speaker, and even a brief mastermind section where the group is able to assist an individual with one of their business challenges.  I hope to see you all at the next one!     03/11/2009

Beginning the weekend of May 2, 2009 according the President Obama the goal of the Home Affordable Refinance is to "provide access to low-cost refinancing for responsible homeowners suffering from falling home prices." The good news is that you do not have to go to your current servicer for help! Here are some of the highlights that I took from this program : 1.  Refinance must be a Fannie Mae loan to a Fannie Mae loan 2.  Allow up to 105% LTV ( No maximum CLTV )                                                     3.  No minimum credit score 4.  May not require a full appraisal 5.  All property types permitted 6.  All occupancy types permitted (owner occupied, 2nd hom, Investment properties) 7.  No seasoning required 8.  No limit to the amount of mortgages 9.  Limted income documentatio... 03/11/2009

Here are a few testimonials on why you should join the Hampton Roads Internet Marketing and Technology Meetup. You can just hear all of the excitement in the air! It was a great time and the next one is tomorrow. This is a great opportunity for Hampton Roads businesses and sales professionals to get on board. 03/10/2009

You wouldn't be alone if you have been apprehensive of pre-foreclosure listings and short sales. These transactions are very often a long and drawn out process and are a ‘bear' to close! You also wouldn't be alone if your apprehension has given way to acceptance of a necessary evil or maybe even grown into embracing the opportunity to help families facing extreme financial distress. Wherever your thought process is, pre-foreclosures and short sales have become a part of mainstream real estate. Currently, 1 out of 10 homeowners is in some stage of the foreclosure process. Foreclosures are at an all time high and are expected to get even higher.  This being the case, how do you start to grow your pre-foreclosure and short sale business? Below are 10 low cost steps to jump start this new f... 03/09/2009

               Ethan LOVES the beach                                                        Beach Feet                         Sandbridge Beach               As always we are here for all of your mortgage needs!  Call or email us for your free mortgage consultation! We specialize in FHA, VA, Conventional and First Time Homebuyers and promise to get back with you by the end of business day.   03/08/2009