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news: Freddie Mac and Fannie Mae - 09/12/08 06:29 PM
I am sure you are hearing in the news about the Government stepping in to provide stability to Fannie Mae and Freddie Mac.  I received the information below from Robbie Oakes, a lender with Corporate Investors in Chapel Hill.  It is a great explanation of why this needed to happen. 
I did want to let you know that there has been an immediate effect on mortgage rates.  Today, they dropped about a .5 point and they could go lower.  Today's rates are:
5.375 for 15-year fixed
5.625 for 30-year fixed
Please read below if you want a great explanation for why this … (0 comments)

news: The Mortgage Report - 09/03/08 06:40 PM
The Good News
According to the Federal Reserve, American homeowners saw their net housing equity-or the values of their property minus mortgage debt-grow from $6.2 trillion to $9.6 trillion from 2000 to 2007.
According to the National Association of Realtors, America is adding close to 1.5 million new households per year which will create an increasing demand for homes.
The Bad News
According to the Office of Thrift Supervision, nearly 2.3 million homes totaling 3 percent of the nation's housing stock, are vacant and on the market.  This represents over a 10-month supply given current sales.  Foreclosures and mortgage payment delinquency … (0 comments)

news: Oversupply of Luxury Housing - 08/22/08 06:46 PM
Residential housing priced at $500,000 and above is currently oversupplied, according to the Second Quarter 2008 Triangle Area Residential Realty Report published by S.M.A. Publications, Inc.  The report uses data from www.realtor.com,   Durham, Orange, Chatham and Wake County Revenue Departments to support their findings.
The 2005 market on the fringe of having an oversupply in the luxury sector, and by 2008 luxury inventory grew 130% and sales simply couldn't keep up.  Realtor.com showed 991 luxury listings at the end of he second quarter in 2005, and by the same time in 2008 those listing had increased to 2,279.  Between 2005 and … (6 comments)

 
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Team Jodi - Chapel Hill Real Estate, Durham Real Estate

Chapel Hill, NC

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Jodi Bakst, Broker @ Chapel Hill Realty

Address: 6011 Farrington Road, Ste 102, Chapel Hill, NC, 27517

Cell Phone: (919) 697-5014

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If you are buying or selling in Chapel Hill, Carrboro, Durham, Hillsborough, Durham or Orange, Durham or Chatham Counties, you have come to the right place. Jodi Bakst and her Team of Real estate specialists provide seamless customer service for our buyer and seller clients throughout their relocation or move.


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