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

Two reports today offer some positive news for the future of this year’s real estate marketplace. Since the major news media often is negative news, I thought it important to report good news in our blog. The first comes from the Jumbo lender Thornburg Mortgage Inc. reported Tuesday that the company bounced back from a billion-dollar third-quarter loss to return to profitability in the final quarter of 2007. In the company press release, the company states, “that we expect our portfolio margins and spreads to continue to improve in the near term.”

In addition, according to a release from Business Week yesterday, the Shares of Thornburg Mortgage Inc. rose Wednesday after Jefferies & Co. analyst Richard Shane Jr. upgraded the stock to “Buy” from “Hold,” saying the lender’s liquidity position has improved.

Also today, the National Association of Realtors® reported that it expects “A continuation of soft market conditions is forecast for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased.” They also reported, “Areas with a high prevalence of subprime lending will continue to feel downward price pressure. Where builders have cut construction sharply, and in most areas with improving affordability conditions, we’ll generally see moderately higher home prices,”

Try out our new home search tool BestHome Pro on our website at http://www.PolingTeam.com

The main financial event of last week was the lowering of the Federal Funds Rate another .50%, on top of Federal Reserve’s surprise .75% cut just eight days before. This brings the Fed Funds Rate down to 3.00% and will lower rates for business and consumer loans as well as Home Equity Lines of Credit and Adjustable Rate Home Loans.

This is good news for Raleigh area home owners with those Home Equity Lines of credit. It is still uncertain how this will affect long term mortgage rates, but most of the lenders that we work with are recommending moving forward with a refinance or locking in a loan now.

Please give the PolingTeam a call or click Contact US to discuss how this may help you.

I am always amazed at the amount of negative news that is out there on almost every topic. As we have seen over the last months real estate has been talked down by just about everyone. Home selling stats are used to generate uncertainty and that uncertainty generates fear and fear affects what is bought and sold.

I do not mean to downplay the effect of the national downturn in real estate, but some in the news media jump on every statistic and then spin the worst case scenario. Today, I am happy to report positive news regarding real estate.

Today, the Mortgage Bankers Association (MBA) released the results of its Weekly Mortgage Applications Survey for the week ending November 30, 2007 and the mortgage volume soared after Thanksgiving. There had been an error in reporting due to Thanksgiving shortened week and the numbers had to be revised.

Read the full article: Weekly Mortgage Application Survey

Most of this increase appears to have been a result of refinancing as a result of lower interest rates. However, this still is good news for home sellers and home buyers. Lower interest rates are a good thing for real estate sales.

Visit our website and see our new home search tool or try in out by clicking here: Best Home Pro Search
 

The third of the three bond issues to consider is a $92 million bond for the Wake Technical Community College.

The bond will be used for:

• A new building at the Northern Wake Campus. This building will be used to offer classes in financial services, pervasive computing and information.
• Expand Health Sciences Campus to train more nurses, radiology/MRI technicians and other allied health professionals.
• Renovate Public Safety facility for law enforcement, EMS and fire safety officer training.
• Acquire property and design for a permanent Western Wake Campus.
• Repair and renovate several builings on the Main Wake Community College Campus.

You can read more on the Wake County website: What’s on the ballot

All three bonds will raise your Raleigh, NC homes’ taxes approximately 2.25 cents per $100 of valuation. This is the tax valuation of your home, not the current market value.

If you would like to know your homes present tax value, The Poling Team would be happy to find it for you just click  Contact Us

We would also be happy to provide a free market analysis of your home. Find Your Home’s Value

 

One of the many questions a Raleigh, NC home buyer must answer is, “should I buy a “new” (new construction) home or should I buy a home that is “new” (re-sale home) to me?

Let’s consider a few pros and cons:

New home: You can design the landscape and other items to your own taste. If you purchase new construction before it is too far along, the buyer can usually negotiate to choose the paint colors, the grade of carpet, cabinets, etc.

Existing home: The landscaping is mature and established. With the large inventory of re-sale homes now listed in the Raleigh market, you probably can find a home that fits your taste.

New home: You can enjoy the new feeling. It may take longer to get into a “new” home if construction is not complete.

Existing home: Move in time is often shorter – as soon as the sellers can move out. Also, an existing home will already have settled. Foundation problems aside, if a home is not showing significant cracks, there is less chance of future cracking.

So if you are planning to buy a Raleigh, NC home, contact us and we’ll be happy to help find you a home that will be just right for your family’s needs.

You can search for Raleigh, NC homes at:  Raleigh, NC Home Finder Search

 

 

As I mentioned the other day in my blog, you should take a look around your home before you put it on the market. Remember when you first bought your home? Try to think like a home buyer and look for a few places where a little bit of work or a little expenditure of money or effort would make a big difference.

Here are some more simple tips that can bring big returns on the sale of your Raleigh, NC home?

1. Do some work in your yard. You will be surprised how far $1,000 can go to add curb appeal to the landscaping of your home. If you only have a limited budget, use it to beautify the front entry area. Trimming the shrubs, fresh flowers, and mulch can help make your home stand out to the buyers.
2. De-clutter – If want your home to sell and if you want to receive the highest price, the clutter has got to go. Consider renting a storage unit. You should box up all extraneous books, kids’ toys, furniture, yard tools, etc. Clutter can make a home look small and drop the value in the eyes of almost every buyer.

You may even want to consider some more expensive home improvements. Ask the Poling Team about what the return on investment is for various home improvement projects.

The Poling Team will have more suggestions in the days to come.

So if you are thinking of selling your home, we can help you receive the highest dollar for your home. Contact us and we’ll also give you a free home market analysis to determine your Raleigh, NC home’s present value.

 

 

The home buying process might seem a little confusing if you haven’t gone through it before. However, it can actually be a lot easier than you think, particularly if you’re working with someone who’s got a lot of experience helping people with their real estate needs.

We’ve been helping home buyers realize their dreams for years. We can speed up your home search, help arrange financing, help you negotiate a good deal, and make sure everything’s signed, sealed and delivered on the closing date.

So if you’re interested in finding out more, please call or email us any time.
You can use your mouse to find your house on our website by clicking Raleigh, NC  Home Finder.

P.S. Would you like The Poling Team to send you a Community and School Report that includes detailed community and school information for any area or zip code in the U.S.? If so, just let me know.

 

 

I visited Trader Joes in Cary today. I had to be on Kildaire Farm Road for a closing, so it was convenient to stop in. As I toured the isles with their unique offerings, I was reminded of one of the our recent relocation home buyer clients.

They were relocating to the Raleigh, NC area from California. The fact that Cary has a relatively new Trader Joes was a major consideration for their home purchase.

They actually ended up purchasing a home in North Raleigh, but the lady of the house was happy that she could still shop at a Trader Joes.

Incidentally, our closing today was for our listing -  Lot 3 in the Hillcrest Farm subdivision outside Wake Forest. 

Now we have only one lot left where you can build your own home or bring your own builder. Lot 22 is a unique lot that has spectacular views of a pond and a farm. You can view our listing on our website at Featured Property or at the website I have built for this listing at http://www.2004Monthaven.com
 
You can use your mouse to find your house or other properties on our website by clicking Raleigh Home Finder.
 

The Poling Team works in all these areas and our experience can help.
 
We have a free relocation handbook that we would be happy to send to you. It helps with information on how to start the moving process, how and when to break the news to the kids, a moving scheduling guide, and information about getting settled.

We also have a free Triangle Area, NC Relocation Package – just click here:  Free Relocation Package Remember to include your current mailing address.
 
You can use your mouse to find your house on our website by clicking Raleigh Home Finder.