The Federal Reserve and Mortgage Rates Understanding What Causes Interest Rate Movement The Federal Reserve constantly evaluates the US economy and, when necessary, takes steps to address inflationary concerns and avoid economic recession or depression. The mass media, in turn, reacts by providing a wide range of opinions and interpretations of the Fed's monetary policy. This can make it very difficult for consumers to decipher how such actions will influence interest rates in general and mortgages in particular. And although actions of the Federal Reserve can have a direct impact on the Prime rate, mortgage interest rates are dictated by the trading of mortgage-backed securities, which are similar to bonds and trade on a daily basis. This means that the real dynamic at the heart of in... 09/13/2007

Thursday, September 13, 2007 Over my tenure as a mortgage professional, I have searched time and again for a place to assist my clients in credit remediation. One problem associated with this subject is your credibility. I wanted to avoid aligning myself with someone who could potentially damage my reputation. There are more than 1100 credit repair companies in the United States. The majority of them are fly-by-night companies that take a consumer's money and disappear. Beware of the companies who insist they can remove all negative items from a consumer's credit report. This is almost always impossible. In fact, during research for the creation of this section, I was very skeptical when speaking with Credit Resource Corp. for the first time, especially since they were providing us wit... 09/13/2007

"Raleigh has the potential with some of the initiatives it has undertaken and some it's developing to become the most green community in the Southeast," said Tom Jensen, who oversees the Cool Cities program for the N.C. Sierra Club, on Wednesday. Fabulous quote from a great article highlighting Raleigh's efforts to combat global-warming.......Click on the link for the full article.  Also, take a look at the articles sidebar - among the other cities is Wake Forest and Hillsborough for 2007! Raleigh Called Cool In Fight Against Warming Thanks again for checking in on the blog! Leesa 09/13/2007

What is the likely impact of a 200% tax increase on individuals selling a home in Raleigh?  Do you want to pay additional taxes when you sell your home?  Will the public benefit, or be harmed by such legislation? In case this is news to anyone, let it be known that your North Carolina state legislators have seen fit to attach an increase in the property transfer tax to a Medicaid relief package that was recently approved by the House and Senate and supported by Governor Easley.  A transfer tax tied to a Medicare relief package?  Give me a break!  Is there anyone else who wonders what the heck one of these has to do with the other?!?! The current transfer tax, that item on your closing statement called “revenue stamps”, is .2 percent of the sale price.  A $200,000 home currently has a t... 09/12/2007

If you're like me, you love those Flip It television shows. They're addictive, aren't they?? And, unless you've been living under a rock, you've seen the media coverage about the record number of foreclosures in the United States. These shows, coupled with the increased foreclosure rate in this country, have prompted many new investors to enter the market. In the Raleigh area, and in North Carolina in general, the foreclosure rates are almost certain to climb. Each week, I receive quite a few emails and phone calls from new investors, looking for hugely discounted deals. Flipping is a great way to make a significant amount of money in a short amount of time. However, I believe that buying and holding real estate long-term is also a great way to build wealth.As with any investment, the k... 09/10/2007

Hasentree is a gated golf and more community. It is a Tom Fazio golf course that is breath taking. Just look at this view.                     And the home sites start at $400,000. Then there are the custom homes and villas that are in the upper $800,000.There are so many recreations going on here the list keeps going and going. Here are a few examples. How about a strollers babies walking club. Ok then, how about Kids pizza movie night. Well then what about Cardio Kickboxing. Look when you return form a hard day at work you do not have to leave to engage with other activity you can stay in our community and enjoy.     So, if you are looking for the city activities in the country then I have found it for you. For more information give me a call. 09/10/2007

How Much Money Should You Borrow? While it might be tempting to borrow whatever amount of money your lender is willing to give you, it's important to think carefully about how much you'll actually need to borrow in order to purchase a new home. From the down payment to taxes to insurance and interest rates, there are many factors to consider when making this important, life-changing decision. Contrary to popular sentiment, there is no standard formula for accurately calculating the specific dollar amount you should borrow when purchasing a new home. Many websites do offer special borrower calculators that claim to factor in important variables, and yet final results vary vastly from one site to the next. Other websites offer general rules of thumb, suggesting that you should never borro... 09/09/2007

Just Listed!1No Photo AvailableRaleigh Real Estate Listings$126,500City: KnightdaleSubd: RUTLEDGE LANDINGMLS#: Design: Design - 2 StoryRooms: 5SqFt: 1474Bedrooms: 3F/H Baths: 2 / 1Acres: 0.11Year Built: 2004Parking: 1 GarageJust Listed!2Ralegh Real Estate Listings$99,900City: RaleighSubd: Worthdale ParkMLS#: Design: Design - One StoryRooms: 7SqFt: 1997Bedrooms: 3F/H Baths: 2 / 1Acres: 0.25Year Built: 1964Parking: Parking - DW/ConcreteJust Listed!3No Photo AvailableRaleigh Real Estate Listings $39,900City: DurhamSubd: NoneMLS#: Design: Design - 1.5 StoryRooms: 6SqFt: 1476Bedrooms: 4F/H Baths: 1 / 0Acres: 0.386Year Built: 1952Parking: Parking - DW/EarthJust Listed!4Raleigh Real Estate Listings$62,500City: DurhamSubd: NorthBrook Section 2CMLS#: Design: Design - One StoryRooms: 5SqFt: 1025B... 09/08/2007

Home Search: To set up an automated search for the home of your dreams, click Triangle Home Search and enter your dreams! Your Home’s Value: If you are planning on selling your home, it would be our pleasure to provide a no-obligation valuation of your home.  Click Your Home’s Value and enter the requested information.  Neighborhood Update: If you would like to receive email notification of real estate transactions in your neighborhood or other neighborhoods, click Neighborhood Updates and we will add you to the system.  You may select as many neighborhoods as you wish.     09/06/2007

Staging your HOME can make all the difference when selling you HOUSE. Home staging is essentially the "art&science" of preparing your property to offer maximum buyer appeal. Staged homes sell faster and for more $. Staging will ALWAYS cost less than the first price reduction taken on your listing. STAGING SPACES will always be more objective than the homeowner who is emotionally attached to the the home. We know what will give your home/listing the edge it needs in todays softened market. We will make appropriate recommendations and obtain items needed at affordable prices. We will always use the homeowners belongings before purchasing new items. Fees always depend upon the size and condition of the property. Consulations range from $150-$450. FULL STAGING CONTRACTS AND ADDITIONAL SERVI... 09/06/2007

Still looking for a park near you. Raleigh Parks and Receration department has a great site to pull up those sites. And one of those parks is Lake Johnson Park. It has a 150 plus acre lake that has double the size of land around the lake. There is more that 3 miles of paved trails and almost 2 miles for more trails that are unpaved. You are viewing part of the park and lake. Can you imagine what this will look like this fall with the tree leaves changing their color? What a great way to get out and look around.                                                                           What another great view.Just look at this trail what a great picture and breath taking for a walk. You can even ride you bike out here, but only on the paved trails the unpaved trails are for nature walks.W... 09/06/2007

¿Qué es amortización negativa? Un préstamo con amortización negativa es una hipoteca con una tasa ajustable que le permite al consumidor utilizar el "valor líquido" de la propiedad por medio de varias opciones de pagos mensuales. El prestatario tiene a su disposición hasta un 25% adicional de la cantidad original del préstamo. Esta flexibilidad le sirve a aquellos consumidores con ingresos temporales, o quienes desean tener un mayor control sobre el flujo de su efectivo. No obstante, el prestatario debe tener un nivel de disciplina económica. Cada mes, el prestatario elegirá la cancelación de un pago total amortizado, un pago de interés solamente, o un pago con una tasa de introducción baja. El pago de amortización total es mayor, e incluye el pago hacia la deuda hipotecaria (principal)... 09/05/2007

It the process of accepting a listing, the agent must map-quest and/or drive the route so they can enter in on the MLS the directions section.I am not just writing this Post for the new agents but also for those who have been around.I know that if your listing address takes to many turns to get to the home that you run out of room on the directions in the MLS area and you have to make abbreviations everywhere to make it work out.But, this next comment is not for those who say they know the area and do not need GPS. I am asking something very simple.             I would like to see in the directions that the home is on the right or left or cul-de-sac. Again, this is not for those who say they know the area as good as the back of their hand. This comment is for those who enjoy going down ... 09/05/2007

Back in the 1990's there was a purchase of 55 acres of land for a park. This park location is close to I-540 and the Airport.Funding for this park took place after 2000 actually until 2003. This site is south of Leesville Elememtary, Middle and High Schools.The terrain is all about streams and mature trees, with three sides being residentual homes.This site is to have a community center and library. The library branch is expected to open 2009. What exciting times are ahead of us on this one. There is going to be paved trails throughout this park. You will also see playgrounds and shelters. There will be an outlook place.Not everything will be completed by 2009 there are phases so you must stay tuned to future developments.   09/04/2007

Forbes Magazine just loves the Raleigh NC Real Estate market!!  They are endlessly ranking our community as the best to live, best for jobs, best for singles, etc.  However, this ranking is a new one!! I wasn't sure I read the text correctly.  Best Place to Flip A Home ???? Your kidding me, right? Forbes ranked the Raleigh Market the #3 Market in the County To Flip Homes!! #2.  The irony of this story is that the Raleigh NC Real Estate Market has never been a flippers dream.  There have been so many markets in the country appreciating at a much faster pace than the Raleigh Market which made "Flipping" a non-starter in this area. Ladies and gentleman- the tide has turned!! The slow down in the real estate market across the country has lead to FLIPPERS starved for new business opportuniti... 09/03/2007

New to the area and would like to ride your bike on a great fun trail. Look no farther William B Umstead State Park has those trails.These trails can be accessed from different points. You can enter the trails by either the Reedy Creek Park Road (for the Reedy Creek section) or Ebenezer Church Road (for the Crabtree Creek section). So for your convience you can pick a trail and you will be lead to the park. Please use the bike trails only when on your bike. Respect the other trails for the different uses that they are for.The trails are in access of 15 miles, so you should have plenty of fun for a good days work.There are many more activities that happen out at this park and it if very breath taking. It is a must see. They also in April hold biking activities. It is a must to check out.  09/03/2007

I should have posed this question last spring. Is participating in the HGTV Buy Me Program as a listing agent worth the effort? One of the producers of the HGTV Buy ME program visited Raleigh looking for a few colorful  agents to use their listings for the HGTV program.  To participate in the program your clients had to allow the HGTV Buy ME crew to follow the clients around and get their feedback on the selling/buying process.   At the time I really didn't have any listings that I thought would fit the bill.  Hind sight is 20/20.  Our own local News and Observer did a featured article on one of the programs.  That said, Raleigh will be featured in 10 upcoming HGTV Buy Me slots, the first of which aired tonight at 8:30pm featuring none other than the Fonville Morisey Falls office.  I kn... 09/03/2007

Raleigh Flat Fee Lisings For Sale By Owner packages starting at $395 for limited service.Today I was asked by a seller if at anytime they wanted to switch to Full Service if there would be a credit.I said absolutely. For Sale By Owner in Raleigh is not for every seller. It takes time and committment. I would recommend if you want to try selling your property on your own sign up with the $395 package and in a few weeks or so if you need more assistance we will upgrade to the full service listing package. Please view my website NC List for Less Realty Incorporated for all of the options. 09/01/2007

In Part 2 of this series I discussed the impact of the mortgage meltdown on clients wishing to buy a home in Raleigh and surrounding areas.  Today’s final installment will cover what this means to the average Raleigh home seller.  I will also attempt to address the reaction of financial markets to the mortgage meltdown and speculate on whether we’re done, or if there is more bad news to come. Selling a Home in Raleigh The Raleigh real estate market is very good right now.  Forbes magazine reports that Raleigh is the #1 seller’s market in the country.  Well prepared, professionally marketed Raleigh homes that are accurately priced are easily selling in 4-6 weeks.  Some even quicker.  Let’s talk about why the ability of Raleigh home buyers to obtain financing changes things for sellers. I... 09/01/2007

My next 50,000 points. I will have at least 2 featured posts.I will use more pictures.I will put more than and planning in to each post.I will comment more.I will be invited to play with the Popular kids!!I will boost my google ranking(it is working) SEO?I will use spelcheq on every blog. I will hyperlink more often Raleigh Real EstateI will only speak positively and professionally. Thank you AR for letting me be a part of this, I feel I learn a little more each day. Thanks I just wish AR could count towards my required CE classes.  08/31/2007