market updates: Reasons for Influx of buyers moving to North Carolina in 2015! - 01/13/16 09:53 PM
Why did so many buyers move to North Carolina in 2015?North Carolina consistently ranks very high in the annual United Van Lines Movers Study and in this article we share the reasons why so many buyers moved to NC in 2015.
Guess what?  The population continues to move away from the cold of the northeastern states to warmer areas and a popular destination is the southeastern coastal states of North Carolina, South Carolina,  and Florida as you can see on this map.  Almost every time we speak to someone from the Northeast, we hear comments like “I can’t wait to get away from this brutal cold weather” or … (2 comments)

market updates: November Jobs Report Numbers Better than Expected! - 12/03/15 11:58 PM
211,000 new jobs were created in November, above the 196K expected, while September and October were revised higher by a total of 29K. The report also showed that the Unemployment Rate remained at 5%, a 7 year low, which was inline with estimates. Average hourly wage growth rose 0.2%, which was also inline, while year-over-year wage growth ticked down to 2.3% from 2.5%.
What everyone wants to know right now is “Will the FED raise rates later this month?”:The solid report all but assures a rate hike by the Fed at the two-day meeting on the 15th and 16th.  Fed Fund Futures … (0 comments)

market updates: August 2015 Housing Starts Slow - 09/17/15 03:17 AM
The Commerce Department reported Thursday that August Housing Starts fell 3 percent from July to an annual rate of 1.126 million units. This was below the 1.158 million expected. Housing Starts kept pace above one million for the fifth straight month, however, signaling significant recovery after the housing bubble imploded in 2008.
 
The Housing Starts report measures the beginning of excavation on residential housing structures.
… (1 comments)

market updates: August 2015 Jobs Growth Slows - 09/04/15 08:20 PM
The Bureau of Labor Statistics reported on Friday that U.S. employers added 173,000 new workers in August. This was below the 217,000 expected and below the 245,000 revision recorded in July. It was the lowest number of new workers since March and the second lowest in the past 19 months.
Within the report it showed that the Unemployment Rate fell to 5.1%, lowest since March 2008.
Now the market is waiting to see if the Fed will raise their Federal Funds rate this month.
… (1 comments)

market updates: Existing Home Sales at Eight Year Highs! - 08/20/15 06:54 AM
The National Association of REALTORS® (NAR) reported that Existing Home Sales in July were up 2% from June to an annual rate of 5.59 million units, the highest pace since February 2007. The 5.59 million was above the 5.42 million expected. Since July 2014, sales are up 10%. A spokesperson from the NAR said that tight inventories are driving prices up.
SO...
It is a good time to sell! It is a good time for a first time buyer to purchase before prices go up too much! Rates are good so it is a good time for everyone to buy and sell! … (1 comments)

market updates: FHA reduces the monthly MIP by over 1/3 effective 1/26/15! - 01/15/15 12:05 AM
FHA has just made financing the purchase or refinancing of a home cheaper by lowering the amount of monthly payment of mortgage insurance premium by over 1/3!  The latest announcement by HUD states that the monthly mortgage insurance premium on mortgage terms over 15 years will be reduced by .50. So in English, what does this mean to you as a potential 1st time buyer,repeat buyer, or homeowner looking to refinance?  Lower monthly payments!!!
Historically, FHA has been a program that has more relaxed credit guidelines but recently buyers had to pay a premium to get the loan.  Well this reduction will allow … (1 comments)

market updates: 2015 FHA loan size limits per County or area in NC - 01/12/15 10:34 PM
The Federal Housing Administration or FHA, has announced the loan size limits for 2015 for all areas of each state in the U.S. Most areas stayed the same but there are some changes so make sure that you check these limits when considering an FHA loan. The limits for most counties in NC are the following loan size limits:
One-Family Homes = $271,050
Two -Family Homes = $347,000
Three-Family Homes = $419,425
Four-Family Homes = $521,250
Counties/Areas that have higher loan limits in North Carolina for 2015 are as follows:
Elizabeth City, NC        $625,500      $800,775       $967,950       $1,202,925
    Camden Co., Pasquotank … (0 comments)