Housing news

Housing Trends

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

From The Economist Mar 25th 2010

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.

From an appreciation standpoint, you may be dissatisfied with the price your house could fetch especially if you bought it in the past few years.

Foreclosure Help for NC

The often heard projections for this year have been record foreclosures.  Since foreclosures sell for lower than market prices the net affect is downward pressure on the market.  The good news for NC is the $95M award that the NC Housing Finance Agency received to help forestall foreclosure.

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

Foreclosure Counseling Agencies – Wake County

Consumer Education Services, Inc
3801 Lake Boone Trl
Raleigh, NC  27607-2972
(919) 785-0725

Raleigh Area Development Authority
4030 Wake Forest Rd
Raleigh, NC  27609-6800
(919) 807-8400

Telamon Corporation
5560 Munford Rd, Ste 201
Raleigh, NC  27612-2621
(919) 239-8156

Housing Market Future?

The graph shown above says a lot about the housing market showing builder confidence along with consumer sentiment.
Also from the March 20th edition of The Economist, “America’s weak labour market deserves much of the blame. Job losses continue to drive loan defaults. Foreclosures declined from January to February, but remained above 300,000 for a 12th consecutive month. Bank sales of foreclosed properties are depressing prices further and dampening the industry’s hopes (see chart). The latest data show declines in both builder confidence and new housing starts”.

The severe winter contributed to the decline.  Spring has always been the best real estate season and the numbers should show some improvement.

Interest Rates Climbing

According to BankRate.com interest rates are the highest in 6 months.
As the economy improves, rates increase.

5 year interest rates - BankRate.com

The National Association of Realtors promotion that has been running during the tax incentive program, “now’s a great time to buy a house”!!!
Download brochure

About trianglegreenhomes

EcoBroker, Realtor, Environmentalist and tireless advocate for green housing. Helping clients find a high performance home or make their current home more energy efficient, environmentally friendly and improve the indoor air quality.
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