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Early in your loan application process, your lender will arrange for a home appraisal. Borrowers are sometimes confused about this process. They have a pretty good idea about what the home they want to buy is worth but the appraised value can sometimes be very different from that number. Continue reading What’s involved in the Home Appraisal Process?
Supply of Inventory With only 3.5 months’ supply of inventory (MSI) in January and buyers snapping up the … More Wake County Real Estate Trends Q1 2014
Buying a home in Raleigh is getting tough!
Regardless if you’re a first time homebuyer looking for a cozy (realtor speak for small) 3 bedroom ranch styled home or a veteran move up buyer purchasing your dream home one thing that is consistent across that supply of housing in Raleigh-Cary and all over Wake County is that it’s tight! Continue reading Buying a home in Raleigh is getting tough!
Deed-in-Lieu of Foreclosure and Preforeclosure Sale
Even though your mortgage payment may have never been late, these transaction types are completed as alternatives to foreclosure therefore, as you might imagine, they are treated seriously. So serious that they often are viewed by underwriters just as serious as an actual foreclosure or bankruptcy. Continue reading FAQ – How Long after a Short Sale or Pre-Foreclosure before I can Qualify for a Conventional Mortgage Loan?
Forbes recently cited a 38% surge in new home sales since last year, hitting a five-year high in June, according to the newest figures from the Commerce Department. For those of you with short-term memory, that would be the last good year of real estate sales before the bust. Yet, despite a monthly drop in activity, sales of previously owned homes remain 15% higher than last year as well, according to the National Association of Realtor’s. Continue reading Housing Affordability Declines in Raleigh as Mortgage Rates Rise and Inventory Dwindles
Until recently, getting a loan to purchase a home in Raleigh North Carolina for borrowers with credit scores greater than 620 but less than 640 was nearly impossible. However, because of the improving real estate markets, lenders are beginning to once again to loosen their credit guidelines. Continue reading FHA 203(b) Loans for North Carolina borrowers with 620 Fico Scores
Buying a home is one of the most exciting and scary times in a person’s life but it is also very complicated. There are a number of parties to this transaction and they read like a movie credit in order of appearance:
Recently I completed the Broker Pre-Licensing Education required by the North Carolina Real Estate Commission before you can take the state license examination in order to obtain a Real Estate Agents license in North Carolina.
There was another licensed agent from Florida who was also in the class who among other professional licenses held a mortgage loan officers license in Florida. When first I asked him why he was pursuing a license to sell real estate in North Carolina he said “you gotta follow the money“. I’m not sure if this is the kind of person I would want to represent me as a Buyer OR Seller but I don’t have to worry about it because I have my own real estate license. Continue reading Flexing Your Discipline Muscle
According to the statistics recorded in the Triangle Multiple Listing Service there’s good news and there’s really bad news for the Raleigh Real Estate Market. I prefer the bad news first because it always make the good news sound just a little bit better so here’s the bad news;
Median & Average Sales Price Declines in Raleigh by double digits
If you have to sell your home in Wake County North Carolina where 100% of Raleigh is located, the value of your home may be falling faster than the presidents job approval ratings!
Continue reading Raleigh Real Estate Market Update – September 2011