Archive for Home Buying

Planning to buy a home in the Raleigh area? What will happen to mortgage rates?

The Federal reserve (Fed) has confirmed their position that it plan to stop purchasing mortgage backed securities after March, 2010. The Fed has been buying these securities since January, 2009 to keep the housing market from sinking to lower levels. The Fed’s actions have helped keep interest rates at historic lows during a very critical time for [...]

I want to buy a house but I’m too busy freaking out

AAAAAAAAAAAHHHHHHHHHH!
Tension breaker, had to be done. Now that we have that out of the way, I heard this from a caller today that was interested in one of my listings. I almost had to tell them to hang up and call 911 because she was confused to a point I was concerned for her.
First time home [...]

Need help with closing costs?

Washington, D.C.based home finance giant Fannie Mae is offering up to 3.5% of the selling price to home buyers for closing expenses. Fannie Mae hopes the incentive will help deplete the inventory of foreclosed homes it has accumulated.The credit is also available for buyers to use for their choice of new Whirlpool appliances providing an [...]

Inflation fears & buying a home in Raleigh

Renting may seem cheaper than buying a home, especially in an uncertain market. However, rents will increase over time due to multiple factors, inflation being one. Raleigh is already seeing an increase in rental demand and according a story from the Triangle Business Journal yesterday, Raleigh rental rates are leading the charge. in U.S.
“Despite a [...]

Are you stupid not buy a home now?

If rates are currently 5% but you wait to purchase a home until next year and rates are 6%, the extra point would cost you approximately $45,000 over the life of a 30 year loan.

The $80,000 house

So what can you find for about $80,000 in Raleigh and the surrounding towns?

Zillow cheif economist speaks about new home buyer tax credit changes

Did you know that on-line home valuation monster Zillow.com has a chief economist? I like that they do because I feel opinions like his are market driven and not reports written for stock analysts.
Read New Homebuyer Tax Credit Proposal: Impact on the Housing Market by Stan Humphries. In his post he writes “Until now, we’ve [...]

Homebuyer Tax Credit Extension Passes U.S. House and Awaits President’s Signature

I received this by e-mail earlier today:
Stay tuned for official word from NAR but the bill including the homebuyer tax credit extension and expansion passed the House by a vote of 403-12 after passing the Senate last night 98-0. This is great news for our market.  This will certainly help get buyers off the fence!
Thank [...]

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