Winston Pointe in Clayton is another interesting neighborhood in Johnston County. Like Creekside in Garner, new construction is the primary market influence in yours. However, unlike in Creekside, your neighborhood is more established with homes dating to 2005 vintage thus there has been quite a few resales in the past 12 months. It’s not surprising…
This was today’s top story in my real estate news feed from Marketwatch.com ‘The monthly cost of buying a home – which includes mortgage payments, taxes and insurance – jumped 14% between July 2017 and July 2018, according to a report released Thursday by Realtor.com. Comparatively, it only became 4% more expensive to rent a…
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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.
Supply of Inventory With only 3.5 months’ supply of inventory (MSI) in January and buyers snapping up the good homes as quickly as they were added to the market, most of the first two months of the year were filled with echoes of realtors bemoaning that there were more homes to choose from. But…
In quite a few areas of the Triangle, houses are going under contract within 1-2 days of hitting the market and most of them have multiple offers on them. The inventory crunch is shaping up to be the same or worse than last year because rates seem to be rising and homeowners are still hesitant to put their homes on the market. As a result, the builders are having a field day. They can’t build them fast enough! – Justin Burleson – Raleigh-Cary Area Real Estate Broker
A two-year waiting period is permitted if extenuating circumstances can be documented. Divorce is NOT an extenuating circumstance!
However, here in Raleigh, there’s a different story. According to NAR, the Median Sales Price of Existing Single-Family Homes rose a healthy 2.9% in Q2 2013 from $193,200 during the same quarter last year to $198,800. But the real surprise for me was in Durham which saw a 3.6% overall gain from $198,500 to $205,700 for the quarter ending July 30, 2013.
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.
Even though the Great Recession has been with us for more than 4 years, and Short Sales have been around for years, nobody has really been able to find a way to deal with them very efficiently. Fannie Mae is attempting to change that with the launch of the new tool they call The HomePath for Short Sales tool. The tools is divided into three categories: