Everyone asks me “how’s the real estate market doing”? Well, here’s what the experts have to say in case you didn’t catch the news yesterday.
Home sale prices in the Triangle are expected to bottom out in the fourth quarter and return to their peak levels by the second quarter of 2013, according to new data and analysis from Fiserv Case-Shiller.
What does this mean to you? If you are a buyer, keep on eye out for bargains. If the
predictions are true, you could find a honey of a deal that won’t be repeated!
As a seller, it’s a good time as people are looking for bargains especially during the waning weeks of the tax incentive program ending April 30th. There may be a large number of buyers, but the reality is that buyers are looking for the best deals.
Foreclosure Help for NC
According to the Business Journal, “Since North Carolina’s “Foreclosure Project” went into action, the initiation of foreclosure proceedings has declined by nearly 50 percent across the state. Foreclosures statewide from Jan. 1 through Feb. 28 numbered 5,324, down by 47 percent from the 10,135 filed during a comparable period in 2008″.
Foreclosure Prevention Resources
- Facing Foreclosure Brochure
- Home Affordable Modification Program (HAMP)
Designed to enable borrowers that meet eligibility requirements to avoid foreclosure by modifying loans to a level that is affordable for borrowers and sustainable for the long-term.
- Second Lien Modification Program (2MP)
Designed to enable borrowers struggling with their mortgage to lower payments on second mortgages.
- Home Affordable Foreclosure Alternatives Program (HAFA)
Provides borrowers that do not qualify for a HAMP modification with options to avoid foreclosure through a short sale or deed-in-lieu.
- Treasury FHA Home Affordable Modification Program (Treasury FHA-HAMP)
Designed to enable borrowers with FHA-insured first lien mortgage loans, that are modified under FHA-HAMP, eligible for certain incentive payments under HAMP.
- All Programs Supplemental Directives Listing
- Supplemental Directives are program guidelines developed specifically for servicers to provide additional guidance and clarify issues that may not have been fullyaddressed by previous guideline documents
Foreclosure Counseling Agencies – Wake County
Consumer Education Services, Inc
3801 Lake Boone Trl
Raleigh, NC 27607-2972
Raleigh Area Development Authority
4030 Wake Forest Rd
Raleigh, NC 27609-6800
5560 Munford Rd, Ste 201
Raleigh, NC 27612-2621