Effective October 1, 2008 the way real estate agents disclose their income to prospective buyers will change… you see sellers sometimes offer bonuses, trips, gas cards, shopping sprees to get properties sold. 
After October 1, 2008 - all of that has to be disclosed to the buyer (I think in WRITING) as they are viewing the […]

I was speaking with a friend today who sells real estate in Johnston County.  She has a buyer who is looking at everything available online - then deciding if they will go out to see the home.  She said, “if that puppy doesn’t have good pictures of the inside of the house… I can’t even […]

I might be wishful thinkin’ here… The new Housing Bill has a $7500 tax credit (for more info on this click here) for First Time Homebuyers!  This is great news, if it leads this group of folks to feel more comfortable buying.
We need qualified first time homebuyers to get off the benches and buy that […]

The Home Energy Rating System was designed to work in a similar way to “miles per gallon.”  It’s a consistent, and unbiased way to rate a home’s energy efficiency.  The report is required by HUD if you are applying for an Energy Efficient Mortgage (EEMs).  The EEMs gives homebuyers incentives to “remodel” their existing homes to […]

For the past many months we’ve been watching gas prices (and lemons, and muffins, just about everything) soar!
We’ve been trying to figure out what we could do, as a mortgage company to reduce our dependant, almost addictive habit of waste.  As a company we met with area Waste Management experts, and Energy Experts from Green […]

In the last 2 weeks we’ve talked to several people hoping to build a new home on property they already own. 
Because there are multiple places to purchase lots, in subdivisions, where you can “bring your own” builder - it’s becoming an increasingly popular option.
With the number of homes in this area that are ALREADY built […]

The Case Shiller report came out today with lower than expected housing prices on existing homes.  I thought this was a good summary…
“Home prices continue to decline at a steep rate.  This morning July 29, 2008 the Case Schiller Index was just issued this morning and the index for May has dropped again another 15.87% […]

The new Housing Bill has some interesting quirks to it.  While it eliminates DownPayment Assistance Programs and increases the Downpayment required for FHA loans - it also makes available a $7500 tax credit for first time homebuyers who have a combined household income of less than $150,000.
Here’s how it works:
Tax credits are different and far […]

Stated Income Stated Asset loans are the ones that are now considered the “head winds” of the Mortgage Meltdown.
But are they “BAD” loans?  No… if you are in a business that has a ton of “paper” writeoffs, if you work multiple jobs, if you are commissioned and those are moving quickly to the higher side […]

According to the local “News and Disturber” (as our family has long described it) Unemployment in the Triangle, as seasonally adjusted by Wachovia, hit 4.7% in May.  While pointing out that we are in a much better position than others in the State - or even as you compare the Triangle to the National Unemployment […]