“Following last week’s euphoria over the European Summit plan, investors are
in a more skeptical mood this week,” said BMO Capital Markets. “In our view,
while the plan will help contain the risk of a European banking crisis and
financial contagion to other countries, it falls well short of resolving the
crisis.”

So Treasuries are starting off the day stronger as more investors are seeking
safety over riskier stocks.  This will allow us to see a little bit of
improvement in rates today.

Rate
update.  Remember these are start rates…credit score, LTV, and other factors
go into final rate.

30yr
Fixed rate 4.125%  APR 4.229%

15 yr
Fixed rate 3.5%  APR 3.765%

5/1 Arm
3.125%   APR 3.207%

30 yr
FHA Fixed 3.75%  APR 4.113%

Have a
fun and safe Halloween!

Chris Blount
Branch Manager
Integrity Mortgage/AES Lending

Courtesy Jeff Dicks Real Estate

Raleigh Homes Market Update

North Carolina recently updated regulations pertaining to firms and individuals performing renovations, repair and painting for compensation, who disturb lead-based paint paint in housing and in child-occupied facilities built before 1978, to be trained and certified. To prevent childhood lead poisoning, they must follow specific lead-safe work practices when disturbing painted or coated surfaces containing lead.

Those individulas who perform renovations for compensation must also provide the pamphlet “The Lead Safe Certified Guide to Renovate Right” to owners, occupants, parents and guardians before beginning renovation work. The regulations apply to renovations in housing such as apartments, homes or in child-occupied facilities such as daycare centers, kindergarten and pre-school classrooms built before 1978

For more information on working with lead-based paint, finding a certified contractor performing renovation,repair and painting activities, contact the North Carolina Division of Public Health, Health Hazards Control Unit, Lead Based Paint Hazard Management Program @ 919-707-5950 or visit

Many folks are going about the home finding process backwards. They go through the entire process of searching, evaluating, and writing an offer on their home, WITHOUT being financially prepared.

Doing a few things up front, BEFORE you go searching, will save you a lot of money, time and hassles. What are those things?

First, find a MOTIVATED lender. One who represents many different products, and can offer you many options for making your loan most affordable.

Here’s an important tip: Ask your REALTOR to refer one or two lenders to you. Why? Because your agent has influence over lenders because they send lots of clients. It’s not just YOU alone talking to them.

After all, your REALTOR and lender both want to see the transaction close. There’s power in numbers and influence. Use it to your advantage.

Now, what you want to do is GET PRE-QUALIFIED with a lender. Better yet, try to get PRE-APPROVED.

Why?

Because the first question any home seller will ask when an offer is presented is “Is your buyer approved for a mortgage?”

And rightfully so! The seller doesn’t want the deal to fall through because you couldn’t get financing. When they accept your offer, their home comes OFF the active market. If you fall through, it costs them time and money.

If your looking for a new or re-sale home in the Triangle area of North Carolina. Please contact (more…)

MCLEAN, Va., May 5, 2011 /PRNewswire/ — Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), which shows mortgage rates drifting lower with the 30-year fixed-rate mortgage matching the yearly low of 4.71 percent, and the 15-year fixed hitting a new yearly low of 3.89 percent.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.71 percent with an average 0.7 point for the week ending May 5, 2011, down from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.00 percent.

• 15-year FRM this week averaged 3.89 percent with an average 0.7 point, down from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.36 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.47 percent this week, with an average 0.6 point, down from last week when it averaged 3.51 percent. A year ago, the 5-year ARM averaged 3.97 percent.

• 1-year Treasury-indexed ARM averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. At this time last year, the 1-year ARM averaged 4.07 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• “Weaker economic data reports reduced Treasury bond yields and allowed mortgage rates to drift lower for the third consecutive week. For instance, real economic growth in the first quarter fell short of the market consensus forecast and represented the slowest pace since the second quarter of 2010. In addition, both the manufacturing and service sectors exhibited growth at a slower rate in April.

• “Data reports on the housing market, on the other hand, were a little more uplifting. The National Association of Realtors^® reported pending home sales rose in March for the second month in a row to the highest index reading since November 2010. Also, the Federal Reserve reported credit standards among commercial banks for prime mortgages were unchanged on net in the second quarter of the year, following two quarters of tightening.”

Get the latest information from Freddie Mac’s Office of the Chief Economist onTwitter: @FreddieMac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

SOURCE Freddie Mac

Related articles

• HELP FOR HOMEOWNERS – HARP extended thru 2012(theraleighmortgageguy.com)
• Home Sales Drop %15.1 in Raleigh North Carolina(theraleighmortgageguy.com)

You are looking at a one-of-a-kind home. This house sits on a sprawling scenic hilltop in North Raleigh, NC . A series of nested spaces all connected by unique rooms and views. This private retreat is surrounded by the beauty of large oaks, Japanese Maple, and azaleas.

The neighborhood is surrounded  by acres of land teaming with wildlife like deer, squirrels and songbirds. The beackyard is smaller with a large deck, and represents a wonderful opportunity for the new homeowner to put their personal touches to. This home although built in the early 1990’s has been updated with all the modern trends.

 6208 Trevor Court Raleigh NC 27613

Raleigh, North Carolina real estate runs the gamut from trendy new condominiums to sprawling homes in golf communities. Diversity is one of the city’s defining characteristics, something that can be evinced in everything from its range of real estate options to its wealth of attractions.

The capital of North Carolina and seat of Wake County, Raleigh is second only to Charlotte in population size and is the 15th fastest growing city in the country. It sprawls over an area totaling 115.6 square miles and, as of mid-2008, has a population of 380,173 people.

Raleigh, North Carolina real estate is spread out over the city’s different neighborhoods. If you’re looking for an urban lifestyle with a strong strain of historic charm, head downtown. Downtown, also known as Old Raleigh, is where you’ll find condos as well as rows of historic homes and buildings.

In search of new developments? Head north to the Northern Raleigh area, which has experienced a bit of a building boom in recent years. Both new and established neighborhoods in North Raleigh are generally composed of spacious single-family homes on wooded lots, townhomes and estate-like residences, with newer developments offering a greater mix of all types. Some of the most desirable neighborhoods in the area include North Ridge, Bent Tree, Falls Village and Stonebridge. Just north of Raleigh in Wake Forest there is the award winning community of Heritage. Heritage Wake Forest began construction in early 2000. It continues to grow along with fabulous new amenities and close to 100 new homes have been sold in the 1st quarter of 2011. You owe it to yourself to see this community and it’s offerings.

As a whole, the Triangle has been experiencing stable, steady growth in the past two or so decades. Building permits issued for single-family new home construction surged by at least 25 percent from 1996 to 2007. By avoiding the skyrocketing kind of growth that other markets across the country underwent, Raleigh has also managed to sidestep the bursting of the housing bubble.

Whether you want a home in a more urban setting or a place of residence where you can wake up everyday to the music of the outdoors, Raleigh and its surrounding areas will have something for you.

No one knows Raleigh, North Carolina real estate better than Jeff Dicks of Keller Williams Realty. Should you wish to have more in-depth information on Raleigh home sales, Raleigh investment properties and real estate in other areas in the region, please feel free to give him a call.

In our previous commentary we talked about what’s happening in the Real Estate Market. Not to be forgotten is all real estate markets are local. What’s happening in the Cleveland market isn’t the same as our’s the Raleigh area.

Now not to be discouraged, there is a solution to the madness; and believe it or not, there is a pricing strategy that works almost every time to get homes sold fast at a great price… and that is to price your home low and the the demand the low price creates raise the final selling price.

If you’re observant, you” notice that foreclosures are getting a lot of buyer activity..now why is that?

It’s simply because buyers view them as a deal; and as one person put, if they think they buy one, they’ll pay a wholesale price rather than a retail price..even if such is not the case.

Price your home like the banks do( 5-10 percent below everyone else) and get the demand o drive the your price up.  If you don’t, you’ll be taking your chances with everyone else and will most likely sell your home for 5-10% below market value anyway, because almost every buyer is low-balling prices.

Mortgage rates are low… but people see them beginning to rise. The fear of higher rates will force potential buyers to make purchases. This surge of sales could allow homebuilders to drastically beat earnings estimates in 2011. Optimism, is beginning to surge among those whom have been waiting, and waiting for a great entry point into the housing market.

Having looked at a mortgage rate chart dating back to the early 1900’s housing is the most affordable it’s ever been.

Jeff Dicks a Realtor in the Triangle area of North Carolina launches new and improved website. To view go here

What I can tell you about myself is I’m a relocated northener to the Triangle area. Tired of the long winters, I migrated south with my wife and two children, and we now reside in Wake Forest. I have to tell you we absolutely love it here! The easy access to the mountains, ocean, forests, and superb golfing adds a unique quality to life. Schools, amenities and friendly neighbors are abundant in the Triangle area and helped make our decision easy.

I am uniquely positioned to assist clients with their move whether across town, across the country, or from another country. I bring my experience and insight into the many details and complexities of moving, to my job as a realtor. I know that real estate can be exciting and overwhelming and I am committed to making the real estate process clear, easy to understand, and smooth for my clients.

I am a dedicated and knowledgeable Raleigh, Durham, and Chapel Hill real estate agent who can provide you with the highly specialized information that will help you make the right decisions. It’s the combination of this unique market-knowledge and excellent negotiating skills that enable me to get you the optimal price for any property you plan to sell or buy.

As a real estate expert in the Triangle area, I can provide you with helpful insights about the area, and can show you why Raleigh, Durham, and Chapel Hill living is truly something to be desired. With a professional yet friendly approach, I help clients feel comfortable about what can be a stressful decision.

Trust is hard to come by in today’s fiercely competitive real estate market. I am here to provide you with the professionalism and integrity needed to ensure that you feel secure in what can be one of the biggest decisions of your life.

If your relocating to Raleigh,NC. Durham, Chapel Hill or other locale in North Carolina. Please use this website as a resource for all your Triangle Real Estate needs, and if you have any additional questions, don’t hesitate to contact us today!

Committed to Your Success !!

Jeff Dicks

The Capital City Real Estate Group & Keller Williams Realty

Quite frankly we seem to be hearing this alot lately. Some homeowners are entering the death spiral as they want to throw in the towel. Well ……not so quickly.

Two factors basically contol the sale of a home. And to be frank you can’t just blame the market. Price & Condition are completely in the control of the seller.

We have seen this time and time again so let’s start with a whole new plan and strategy for the times.

We’ve just produced a report available in print or video.

In this report, you will learn…

About the most dangerous real estate trends that are keeping homes from being sold in today’s market, and how to avoid them

How to price your home to sell…

How to position your home as a “deal” to buyers so you get flooded with buyer showings and offers, and

A lot more…

Please contact us by e-mail or phone for your FREE copy!