It might be roiling Washington, D.C. and its suburbs, but, so far, the government shutdown is having little effect on Charlotte’s real estate and banking markets.Read More »
Banking and Finance
A new Homeowner's Bill of Rights, SB 321, aims to eliminate the runaround some homeowners got from banks by requiring lenders to assign homeowners a single person to contact. It bans dual-tracking, in which a bank pursues a foreclosure at the same time a homeowner is working on a short sale. And it eliminates "arm's length" rules, in which banks barred people from buying distressed properties from their relatives or other close associates.Read More »
Foreclosure activity down from last year, but Mecklenburg and York counties see month-over-month spike
Although foreclosure activity in the Charlotte area has declined over the past year, it jumped up between July and August this year in Mecklenburg and York counties, according to a report issued by RealtyTrac.Read More »
The average U.S. rate for the benchmark 30-year home mortgage climbed over the 4.5 percent mark this month for the first time in more than two years.
Tagged with: 30-year home mortgage rate Alan Banks Evans Coghill Homes Grubb Properties Home Builders Association of Charlotte Karla Knotts Keller Williams Pearson Land Corp. Todd Williams Tom Pearson Virginia PopovichRead More »
“The builders will have to be financially qualified with effective business models and financial discipline," said Bill Bickett, who is spearheading the creation of the Charlotte-based division of the bank. "But smaller builders have had more problems getting financing. We’ll be looking at loans from $2 million to $6 million. That’ll be our sweet spot.”Read More »