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Twitter Updates for 2010-03-08

• RT @ABC11_WTVD: Affiliated Computer hiring another 280 workers in Raleigh! http://bit.ly/bGsZIz http://myloc.me/4A84r #

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Outstanding weather for Raleigh home buyers this weekend

We did 2 open houses this weekend in Garner and in Raleigh… the weather was awesome! We had a great day at Southerby Bluffs on Saturday and had several visitors tour the new townhouses. On Sunday we held our listing at 8741 Camden Park Drive open, but only had 1 visitor… Each weekend is hit or miss around Raleigh when the weather turns for the better. Sometimes folks just say forget it and stay home to do a little spring cleaning or will venture out for lunch and wind up sitting outside or going for a walk ultimately delaying home shopping ’til the next nice weeked. Guess we had a little both this weekend!

Southerby Bluffs will be open this weekend

We will be on-site showing the new townhouses Southerby Bluffs this Saturday doing a little cleaning and setting up for the coming week.  Come for a visit and see our quality, convenient location and custom floor plans!

Directions to Southerby Bluffs:

From 440 Beltline: Take exit 299 Hammond Road and turn left, Follow Hammond and cross Hwy 70 then Hammond turns into Timber Drive,  Travel about 3.5 miles on Timber then turn left onto Aversboro Road, Right onto Heather Park Drive and then Right onto Southerby Bluffs.

From Downtown: Take South Saunders toward Garner and it turns into South Wilmington/ 70 East, Stay left at the 70/401 Split, Turn right onto Aversboro Road, Left onto Heather Park Drive and then right into Southerby Bluffs.

Mortage rate predictions

Here’s a quick update about my earlier post regarding the uncertain future of mortgage rates:

One reason for such bidding wars is that many buyers can qualify for tax credits of as much as $8,000 if they agree on a home purchase by April 30. Meanwhile, economists say mortgage rates — currently around 5% for standard 30-year fixed-rate loans — are likely to be at least modestly higher later this year as the Federal Reserve withdraws support for the market.

Analysts at Credit Suisse in New York say that rate could end the year at 5.10% to 5.25%. Mark Zandi of Moody’s Economy.com predicts 5.75%.*

I just wanted to add a little credibility to my opinion regarding where rates are heading. I think Moody’s has it best in that rates will run closer to 6% by the end of the year.

As far as housing prices are concerned, Freddie Mac CEO Charles Halderman has stated they want to price their foreclosed inventory to sell but want to refrain from putting too much downward pressure on home prices. ** What does this mean for home prices in the Raleigh area? I think they will stay around where they are now. We have seen drops around Raleigh upwards of 15% over the past 2 years (Depending on the area, some are much lower.) 2010 should prove a great time to buy a home in Raleigh.

*James R. Hagerty. Housing market shows signs of healing, but danger remains. Wall Street Journal [Internet]. 2010 Jan 27 [cited 2010 Feb 24]. Available from: http://online.wsj.com/article/SB10001424052748704905604575027370647347644.html?KEYWORDS=james+r+hagerty

**Nick Timiraos and James R. Hagerty. No Exit in Sight for U.S. As Fannie, Freddie Flail. Wall Street Journal [Internet]. 2010 Feb 9 [cited 2010 Feb 24]. Available from http://online.wsj.com/article/SB10001424052748704362004575001042824028862.html?KEYWORDS=james+r+hagerty

Raleigh Real Estate News goes Twitter

You can follow our blog as I write and receive tweets of our new posts. It’s quick, easy and awesome. I surf real estate news and the local city websites looking for blog stories and now I can update you with my posts as well as direct links to the story right from Twitter. You would have to visit 5, 10, and even 15 news sites a day to get all the real estate news I read. Now I do it for you. Rock on.

http://twitter.com/Jason_B_Graves

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