By Jim Woodard
Published: May 15,2012
Warm spring breezes often bring thoughts of home remodeling. This is a viable option for homeowners who need additional rooms for a growing family or to accommodate special interest activities. Remodeling activity remained relatively flat in the first quarter of this year, according to the National Association of Home Builders. However, it’s expected to increase [...]
By Jim Woodard
Published: May 7,2012
One of the most frustrating times in the process of closing a home sale is at the closing table when final costs are revealed. Increasingly, those costs are substantially more than their previous estimates. In most cases, the buyer and seller reluctantly agree to the higher costs in the interests of finalizing the transaction. However, [...]
By Jim Woodard
Published: May 3,2012
About 20 percent of mortgages are now underwater, and about 46 percent of bankers surveyed by FICO expect to see the volume of strategic defaults this year exceed 2011 levels. A strategic default is when a homeowner walks away from his home, even though he can afford to make the mortgage payments. In addition to [...]
By Jim Woodard
Published: April 27,2012
A key factor in today's home-selling market is the growing activity by investors, both individuals and institutional investors. They are buying low-cost distressed properties and converting them into income-producing rentals.
By Jim Woodard
Published: April 23,2012
This is the time of year when families begin to think and plan for vacations. Increasingly, that involves the possible purchase of a vacation home.
By Jim Woodard
Published: April 16,2012
A recent survey provided an interesting insight into what motivates today's homebuyers. The buyer's initial feeling about the home, or the gut reaction, motivates the decision more than the home's size, price or investment potential.
By Jim Woodard
Published: April 5,2012
The Federal Housing Finance Agency recently released its final rule regarding private transfer fees. The agency received about 4,200 comments in response to its proposed guidance and is now issuing a rule that restricts Fannie Mae, Freddie Mac and the Federal Home Loan Banks from taking on mortgages “encumbered by certain types of private transfer [...]
By Jim Woodard
Published: April 2,2012
The rental market is the strongest growth element in today’s real estate activity. And, strange as it seems, the growth of rentals might be a major factor in pushing up home sales in future months. The growing demand for residential rentals is also increasing those rents. Median rents rose 3 percent from January 2011 to [...]
By Jim Woodard
Published: March 22,2012
According to the National Association of Realtors, housing affordability conditions have reached the highest level since recordkeeping began in 1970, while mortgage rates remain at near-record-low levels, but they are slowly rising. NAR’s Housing Affordability Index rose to a record-high 206.1 in January, based on the relationship between median home price, median family income and [...]
By Jim Woodard
Published: March 12,2012
On March 6, the acting federal housing commissioner announced significant price cuts to the Federal Housing Administration’s Streamline Refinance Program. The cuts could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11 of this year, FHA will lower its Upfront Mortgage Insurance Premium to just 0.01 percent and reduce its [...]
Sign up today to receive The Mecklenburg Times’ free E-Alerts and be the first to read breaking news.
Sign up or manage your alert.
