The Nothnagle 4-Sale Line® just got better! In addition to Nothnagle listings, callers can now access information on all listed properties in the Greater Rochester region.
To get information on a property listed with a Nothnagle agent, nothing has changed. Callers enter the Property Code Number (PC#), which appears on Nothnagle “for sale” yard signs and in advertisements, to get a property description and if desired, connect directly with the listing agent.
To access properties listed by a broker other than Nothnagle, callers can enter the property’s MLS number. The MLS number commonly can be found on most competitors’ advertisements and starts with the letter “R” followed by a series of numbers.
The Nothnagle 4-Sale Line® was established in 1993 and continues to get thousands of calls each month. Callers can obtain information on available homes 24 hours a day, seven days a week. The service provides a brief description of the home, including its rooms, features, location and price. Callers can utilize the option to connect directly to an agent to get more information and to set up an appointment to tour the property.
To access the 4-Sale Line® call 585-292-8500 or toll free at 1-800-295-2797.
Wednesday, September 29, 2010
Tuesday, September 28, 2010
How to Calculate Your Debt-to-Income Ratio
Debt-to-Income ratios are important for helping you to determine how much house you can buy and what your lender will approve for a mortgage amount. There are two different types of ratios lenders look at, the front-end ratio which is your housing expenses, and back-end ratio which is your total debt-to-income ratio.
The front-end ratio indicates how much of your monthly income will go towards your monthly payment, which includes principle, interest, real estate property taxes and homeowners' insurance. The total payment should not exceed 28% of your gross (before taxes) monthly income.
To get an idea of what kind of a payment you can qualify for, take your annual gross salary and multiply it by 0.28 (28%), then divide by 12 months. For example, if your annual salary is $50,000, you may qualify for a monthly payment of $1166 (50,000 x 0.28 / 12 = 1,166).
When searching for a home on Nothnagle.com, each listing has a "Mortgage Calculator" feature that will help you estimate what your monthly payment will be for that particular property.
An additional factor that a lender will look at beyond the front-end ratio, is your total debt-to-income ratio (or back-end ratio). This takes into account not just your housing expenses but your total debts, including car loans, credit card payments and student loans. Your total monthly debt payments cannot exceed 36%. To calculate your back-end ratio, take your annual gross salary and multiply it by 0.36 (36%), then divide by 12 months. Using the same salary of $50,000, your monthly debt payments cannot exceed $1500.
Depending on your other debts, this may reduce the amount of monthly housing payment you can qualify for if you are carrying high credit card debt. To do a quick estimate, add up your monthly fixed payments - minimum credit card payments, car loan, student loan or other fixed debt. If these debt payments equal $600, that leaves $900 for your monthly housing expense.
To find out how much you can qualify for, contact a Nothnagle agent direct or one of our mortgage partners today.
The front-end ratio indicates how much of your monthly income will go towards your monthly payment, which includes principle, interest, real estate property taxes and homeowners' insurance. The total payment should not exceed 28% of your gross (before taxes) monthly income.
To get an idea of what kind of a payment you can qualify for, take your annual gross salary and multiply it by 0.28 (28%), then divide by 12 months. For example, if your annual salary is $50,000, you may qualify for a monthly payment of $1166 (50,000 x 0.28 / 12 = 1,166).
When searching for a home on Nothnagle.com, each listing has a "Mortgage Calculator" feature that will help you estimate what your monthly payment will be for that particular property.
An additional factor that a lender will look at beyond the front-end ratio, is your total debt-to-income ratio (or back-end ratio). This takes into account not just your housing expenses but your total debts, including car loans, credit card payments and student loans. Your total monthly debt payments cannot exceed 36%. To calculate your back-end ratio, take your annual gross salary and multiply it by 0.36 (36%), then divide by 12 months. Using the same salary of $50,000, your monthly debt payments cannot exceed $1500.
Depending on your other debts, this may reduce the amount of monthly housing payment you can qualify for if you are carrying high credit card debt. To do a quick estimate, add up your monthly fixed payments - minimum credit card payments, car loan, student loan or other fixed debt. If these debt payments equal $600, that leaves $900 for your monthly housing expense.
To find out how much you can qualify for, contact a Nothnagle agent direct or one of our mortgage partners today.
Sunday, September 26, 2010
The Difference Between Pre-Qualification vs. Pre-Approval
One of the best things you can do to prepare if you're in the market to buy (aside from hiring a Nothnagle agent!) is to get pre-approved for a mortgage. Pre-approval has far more significance than a pre-qualification.
Nearly anyone can get a pre-qualification letter; the applicant fills out an application and provides basic financial information. At this point in the process, there is no verification of income, debt and credit rating. A lender will issue a "pre-qualification" letter which basically states that based on the information provided, the buyer qualifies for up to $X amount for a mortgage.
A pre-approval letter is only issued after the lender has run a credit report and verified your financial status. The next step after being pre-approved would be to finalize the mortgage commitment. If you are in a competitive situation on a house and one buyer only has a pre-qualification letter but you have a pre-approval, the seller is more likely to accept your offer because they can be assured that it is very likely you will be able to get financing and go through with the purchase of their home.
A pre-approval letter may provide you with some conditions that must be met in order to obtain a mortgage. One common example would be if you own a home now, your lender may condition a mortgage approval on you selling your home first before they will lend you money for your new home. Another example would be a condition that you have to pay off a credit card or student loan.
For more information on financing, visit one of our mortgage partners or contact a Nothnagle agent today.
Nearly anyone can get a pre-qualification letter; the applicant fills out an application and provides basic financial information. At this point in the process, there is no verification of income, debt and credit rating. A lender will issue a "pre-qualification" letter which basically states that based on the information provided, the buyer qualifies for up to $X amount for a mortgage.
A pre-approval letter is only issued after the lender has run a credit report and verified your financial status. The next step after being pre-approved would be to finalize the mortgage commitment. If you are in a competitive situation on a house and one buyer only has a pre-qualification letter but you have a pre-approval, the seller is more likely to accept your offer because they can be assured that it is very likely you will be able to get financing and go through with the purchase of their home.
A pre-approval letter may provide you with some conditions that must be met in order to obtain a mortgage. One common example would be if you own a home now, your lender may condition a mortgage approval on you selling your home first before they will lend you money for your new home. Another example would be a condition that you have to pay off a credit card or student loan.
For more information on financing, visit one of our mortgage partners or contact a Nothnagle agent today.
Thursday, September 23, 2010
Nothnagle is Expanding to Central New York Region!
Nothnagle Realtors is pleased to announce the launch of Nothnagle REALTORS®, Moss Ansteth Associates, a franchised office under the ownership and management of industry veterans Aaron Moss and Stephen Ansteth.
The duo has been operating Aaron A. Moss Real Estate, Inc. since 2005 from their location at 1 West Genesee Street in the heart of Skaneateles. The office location will remain the same and all eight agents will be making the transition to the Nothnagle platform. From the Skaneateles location the agents serve all of Central New York, providing a high level of customer service and experience to the clients they work with.
“We want to give local real estate consumers and agents a world-class experience like no other. Both Steve and I have a strong track record of delivering top-quality service to our clients but now through our partnership with Nothnagle REALTORS®, we will be able to offer tools and systems never before available in the Central New York region,” said Aaron Moss, Broker.
“The franchise arrangement allows brokers to maintain their independence while tapping into our successful infrastructure. Aaron and Steve have an exceptional business-sense. We share the same vision and believe that by empowering agents with the most innovative tools in the industry, we can offer the best buyer and seller experience in the Central New York market,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.
Nothnagle REALTORS®, Moss Ansteth Associates will be the first operation in the Central New York region for the franchise under this platform.
About Aaron Moss
Aaron Moss, a Skaneateles native, opened Aaron A. Moss Real Estate, Inc. in 2005. Prior to that, most recently he served as Chief Operating Officer at Jordyn Taylor Properties, Inc., located in South Florida. In less than four years with Jordyn Taylor, Aaron oversaw the opening of 17 real estate offices, hired and trained over 1,500 agents and the company transacted over 25,000 sales.
Aaron currently resides in Skaneateles with his family. He is a Director for the New York State Association of REALTORS® and is past Treasurer of the Cayuga County Association of REALTORS®. In addition to New York, Aaron is licensed in Connecticut, Virginia and Florida.
About Stephen Ansteth
Steve Ansteth has spent the last 5 years as owner/operator of Aaron A. Moss Real Estate, Inc., in Skaneateles. Throughout his time in real estate, Steve has developed a knack with buyers and sellers alike, using his outstanding customer service skills and innovative communication systems.
Steve, from Skaneateles, currently resides in Auburn. He is Treasurer of the Cayuga County Association of REALTORS® and is the co-chairman for the Association’s successful Charity Golf Event which benefits local charities, most recently The Matthew House.
About Nothnagle REALTORS®
Nothnagle REALTORS® was founded in 1948 and is a full-service real estate brokerage boasting 26 offices in Upstate New York and more than $1.1 billion in annual sales. Nothnagle.com was recently named #8 Top Real Estate Brokerage Website in America by 1000watt Consulting and REALTrends. For more information, please visit www.Nothnagle.com.
Nothnagle REALTORS® previously operated the “Gallery of Homes” franchise system for over 30 years. The first real estate franchise in the country, at its peak there was a network of 1,100 Gallery of Homes locations throughout the U.S., Canada and the U.S. Virgin Islands. The Company sold off the franchise in the 1980’s.
The duo has been operating Aaron A. Moss Real Estate, Inc. since 2005 from their location at 1 West Genesee Street in the heart of Skaneateles. The office location will remain the same and all eight agents will be making the transition to the Nothnagle platform. From the Skaneateles location the agents serve all of Central New York, providing a high level of customer service and experience to the clients they work with.
“We want to give local real estate consumers and agents a world-class experience like no other. Both Steve and I have a strong track record of delivering top-quality service to our clients but now through our partnership with Nothnagle REALTORS®, we will be able to offer tools and systems never before available in the Central New York region,” said Aaron Moss, Broker.
“The franchise arrangement allows brokers to maintain their independence while tapping into our successful infrastructure. Aaron and Steve have an exceptional business-sense. We share the same vision and believe that by empowering agents with the most innovative tools in the industry, we can offer the best buyer and seller experience in the Central New York market,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.
Nothnagle REALTORS®, Moss Ansteth Associates will be the first operation in the Central New York region for the franchise under this platform.
About Aaron Moss
Aaron Moss, a Skaneateles native, opened Aaron A. Moss Real Estate, Inc. in 2005. Prior to that, most recently he served as Chief Operating Officer at Jordyn Taylor Properties, Inc., located in South Florida. In less than four years with Jordyn Taylor, Aaron oversaw the opening of 17 real estate offices, hired and trained over 1,500 agents and the company transacted over 25,000 sales.
Aaron currently resides in Skaneateles with his family. He is a Director for the New York State Association of REALTORS® and is past Treasurer of the Cayuga County Association of REALTORS®. In addition to New York, Aaron is licensed in Connecticut, Virginia and Florida.
About Stephen Ansteth
Steve Ansteth has spent the last 5 years as owner/operator of Aaron A. Moss Real Estate, Inc., in Skaneateles. Throughout his time in real estate, Steve has developed a knack with buyers and sellers alike, using his outstanding customer service skills and innovative communication systems.
Steve, from Skaneateles, currently resides in Auburn. He is Treasurer of the Cayuga County Association of REALTORS® and is the co-chairman for the Association’s successful Charity Golf Event which benefits local charities, most recently The Matthew House.
About Nothnagle REALTORS®
Nothnagle REALTORS® was founded in 1948 and is a full-service real estate brokerage boasting 26 offices in Upstate New York and more than $1.1 billion in annual sales. Nothnagle.com was recently named #8 Top Real Estate Brokerage Website in America by 1000watt Consulting and REALTrends. For more information, please visit www.Nothnagle.com.
Nothnagle REALTORS® previously operated the “Gallery of Homes” franchise system for over 30 years. The first real estate franchise in the country, at its peak there was a network of 1,100 Gallery of Homes locations throughout the U.S., Canada and the U.S. Virgin Islands. The Company sold off the franchise in the 1980’s.
Tuesday, September 21, 2010
Are You Considering a Career in Real Estate?
Nothnagle Realtors is hiring! Have you ever considered a NEW CAREER in Real Estate Sales? Have you already taken the licensing course and don't know what to do next? You've come to the right place!
If you're thinking of real estate as a career, we invite you to find out more about the licensing process and what Nothnagle has to offer you at one of our upcoming Career Day seminars. The seminars are free and there's no obligation, no pressure...just a source for information gathering.
What are some of the benefits of a career in real estate?
• Offers unlimited earning potential.
• Flexibility! As an independent contractor, you make your own hours.
• You are the boss of your own business…..we give you the support and guidance, but it’s your business.
Nothnagle has training and unprecedented support to ensure your success in a new career. If you already have your NYS salespersons license, learn about our exclusive Fast Trac training. New sessions are being added. Call 585-624-3370 x. 223 for dates and for registration information.
Our Fast Trac course offers comprehensive training on every aspect of real estate sales. Attendees graduate from Fast Trac and are prepared to hit the ground running. This course will teach you not just the fundamentals but will give you the confidence you need to be successful.
All real estate companies are not the same....Nothnagle can make the difference! See what our agents have to say about us.
If you're thinking of real estate as a career, we invite you to find out more about the licensing process and what Nothnagle has to offer you at one of our upcoming Career Day seminars. The seminars are free and there's no obligation, no pressure...just a source for information gathering.
What are some of the benefits of a career in real estate?
• Offers unlimited earning potential.
• Flexibility! As an independent contractor, you make your own hours.
• You are the boss of your own business…..we give you the support and guidance, but it’s your business.
Nothnagle has training and unprecedented support to ensure your success in a new career. If you already have your NYS salespersons license, learn about our exclusive Fast Trac training. New sessions are being added. Call 585-624-3370 x. 223 for dates and for registration information.
Our Fast Trac course offers comprehensive training on every aspect of real estate sales. Attendees graduate from Fast Trac and are prepared to hit the ground running. This course will teach you not just the fundamentals but will give you the confidence you need to be successful.
All real estate companies are not the same....Nothnagle can make the difference! See what our agents have to say about us.
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