I ams going to work part-time with Prestige Lending he can probably give you the lowest rate available on a number of different loan options, especially in regards to re-financing. Now is a very good time to refinance as rates are at all time lows. There is a lot of misinformation out there regarding the ability to get a loan, but the fact is that if you have a good credit score and job history, money is available. There are even first time homebuyer down payment assistance programs that are still available as well.

Weekend rates are as low as:  5.125 % for a 30 year fixed rate loan*** when you have a credit score of at lease 739 and are currently employed with a good employment history

***Loan Amounts <$150,000 and 80/15/5 combo’s are slightly higher.
***Investor loans available.  Call for quotes.

So, if you are interested in lowering your house payments or need to cash out some of your home equity for a worthwhile purpose, give Art a call or you can email him at artpoling@kw.com.

The Sky is Falling, the Sky is Falling! Or at least so said Chicken Little. If one listens to the main stream news organizations one might conclude the same about the real estate market – even in the Triangle area of North Carolina.

Don’t get me wrong, Raleigh area home sales have been dramatically impacted by the national real estate marketplace and the national economy. Wake County home sales continued to decline in September 2008 as compared to September of last year. Yet, Triangle Area homes appreciated an average of 4.8% this year.

While this is not the double digit gains of the past California boom times, the rate is significant when compared to the national average appreciation which is a negative 4.8% for this year.

Read my Raleigh real estate market update and check out the statistics for each of the four major counties by clicking here: Raleigh Real Estate Market Update

While I will not attempt to “predict” the future, everyone understands that one wants to purchase low and sell high. Now is a great time to purchase a home in the Raleigh, NC area.

Contact The PolingTeam or email me to learn what opportunities there are to invest in Raleigh residential real estate.

The cities of Raleigh and Cary, North Carolina are among MSN’s pick of 66 cities where buying makes sense.

The decision to purchase a home verses continuing to rent is dependent upon a number of factors that are directly influenced by one’s credit record and credit score. A potential home buyer with a good credit history might obtain a 6% mortgage loan and they will pay a third less in monthly payments than someone who qualifies for an 8% loan. This can make a huge difference on the monthly payments and for those who are credit challenged it may make more sense to continue to rent.

So what are the returns that are projected should you buy a Raleigh, NC or Cary, NC home? One way to look at this is to project the equity that you would have in four years. Here are MSN’s projections:

How much equity you’d have by 2012 if you bought a low-priced home today…

*Source: Center for Economic and Policy Research and the National Low Income Housing Coalition

These numbers are not as large as areas in Texas, Greensboro-High Point, N.C. , or even Tampa-St. Petersburg-Clearwater, Fla.  “Of the 100 most populous metro areas, 57 have average three-bedroom rental costs higher than the cost of a 6% loan for a typical low-priced house, including Little Rock, Ark., and Akron, Ohio. (The study’s authors defined low-priced as 75% of the area’s median.)”

With the lower interest rates that came about in the last several days as a result of the Freddie Mac, Fannie Mae bailout and the high inventory levels it is a great time to buy a Raleigh or Cary, NC home.

We love to help buyers – especially first time home buyers. Give us a call to obtain our high level of personalized service!

Vist our website at http://www.polingteam.com

The bailout of Fannie Mae and Freddie Mac has already brought lower interest rates, but it may not be as large a benefit to the real estate marketplace as one might expect. Because of the tightening credit requirements (which are absolutely justified – non conforming loans were how we got into the mortgage crisis) there are fewer buyers who can qualify for a mortgage loan.

Speaking of home mortgage rates, one of our recommended lenders has a 30 year fixed conventional loan rate of 5.75% with no origination fee and 0 points. Their 30 year fixed FHA loan is at 6.0%. This is good news for home buyers and home sellers who may need to refinance their homes.

Many of the first time home buyer assistance programs are going away as of October 1^st. There are some that will still be available but the PolingTeam recommends that you have an experienced lender help you navigate the process.

Since interest rates are low and there is plenty of homes on the market, it is a great time to buy a home. Contact Us and we will be glad to help. We love first time home buyers!

You can search all active listings in the Triangle Multiple Listing Service on our website at Find Your House with Your Mouse

The Housing and Economic Recovery Act of 2008 which was passed this week provides a $7,500 tax credit to first time home buyers.

In addition, to a number of other goals the new housing act attempts to stimulate home buying, reduce excess supply in housing markets and shore up home prices. See the National Association of Home Builders article that gives more information on what is available to those looking to purchase their first home at:  First-Time Home Buyer Tax Credit

This tax credit is available only until June 30, 2009. So if you have been thinking about purchasing a new home this is another great reason to make your move now.

Interest rates are still low and there are a number of great mortgage programs for first time home buyers.

Want to know more? Contact the PolingTeam and we’ll help make your move easier!

136 Brereton Drive

The Poling Team will be doing an open house in North Raleigh, tomorrow afternoon and we would love to have you stop by and tour this lovely 3222 square foot brick home that located on a landscaped lot of almost an acre located close to I 540.

The home features a two story foyer with hardwoods that opens to large formal living room. The family room has gas log fireplace that opens to the breakfast area & kitchen. 1st floor laundry rm. Master has vaulted ceiling with a huge bathroom with whirlpool tub, separate shower and skylights. There are3 additional bedrooms each with generous closets. Deck overlooks garden and buffer.

Come and see!

Directions: North on Six Forks Road, cross over 540, take 1st right on to Brereton Dr., Home is on right..

You may have been wondering why I haven’t blogged in some time. It is because that in addition to being full time helping our clients with buying and selling real estate, I have taken on teaching real estate. I have always enjoyed teaching and I felt this would be a great way to share what I know. In my short time at teaching, I have found that it also has made me a better real estate broker.

I teach at Legacy Real Estate School which just opened this year. If you are interested in getting a North Carolina real estate license, I will be teaching pre-licensing July 9 to August 7.

If you are a real estate broker with a provisional license, my next Post Licensing course is Broker Relationships and Responsibilities and is offered on Monday’s and Tuesday’s, June 16 – 24. 

You can see all the courses Legacy Real Estate School offers at www.visitlegacy.com

If you are thinking of snapping up a bargain buy in the current real estate market downturn you should recognize that timing a market is risky and prices alone may not be the best way to determine a good opportunity.

Money magazine recommends that you consider the market where you purchase. “They’d be smart to look for markets where job growth is strong, foreclosures are relatively low and inventory is high. With these factors in place, buyers can still dictate terms of sale and negotiate prices, but aren’t as exposed to the economic and lending risk problems that have sunk many markets around the country.” Then they say, “What you need is a buyers’ market, where there is healthy job growth and more houses available than people to buy them. This is not due to foreclosures and economic downturn, but to overbuilding that should balance out in time.”

Read the full article: Best Cities for Bargin House Hunters

The current Raleigh, NC residential real estate market matches these criteria and it is a good time to purchase a home. Interested in investing in a home? Give the PolingTeam a call and we will help you through the process of identifying and finding a good investment.

1. Get a Home Inspection: In a buyer’s market, it pays to be pro-active. Home defects or outdated systems can hold up a sale or result in price reductions later on. By getting a home inspection before putting your home on the market, you’ll be able to address problems that might otherwise turn off knowledgeable buyers. Contact us about our free home warranty program that may help with the cost of repairs.
2. Set Pricing Accurate to the local Market. Setting a realistic asking price is the best way to ensure a timely sale. It’s no longer enough to simply check current comparable listings in your area and match their asking prices. It is necessary to research both the price and the time on the market of the current comparable listings. It is important to study the absorption rate (comparing the number of homes on the market verses the number of homes sold in the last year).
3. The PolingTeam pays close attention to any properties that have sat unsold for an extended period of time and we study statistical data on local home buying trends.
4. Depending upon the location, the PolingTeam might even recommend hiring a professional appraiser to give you more definite idea of your home’s value.
5. Keep your mind open to the possibility of a future price reduction should your initial listing not generate the kind of response you desire. You do not want to constantly be behind the market. In a strong buyers market, it is important not to make the price reduction too small if the market prices are dropping.
6. Consider waiting on listing your home if you are in an area with high inventory and if you have the time to wait. Yes, I really did say potentially wait – even if it means we don’t have the opportunity to list your home now. We always recommend what is best for our clients.
7. Call the PolingTeam to obtain our professional advice with absolutely no obligation.