What You Should KNow About Your Credit Score

Buying A Home with A Mortgage: What You Should Know About Your Credit Score!

If you are planning on buying a home and and getting a mortgage, knowing your credit score before you start looking is a critical piece of information, particularly in today's low inventory environment. When mortgage lenders review your credit they are focused on a variety of things such as your timeliness in making your payments, have successfully paid your debts, how much credit you are using and more. Your Credit Score Will in Large Part Determine Your Mortgage Rate.

While your credit score isn't the only deciding factor when being considered for a mortgage, it is most definitely a significant one. Your credit score is commonly referred to as a FICO score and can…

209 Views, 0 Comments

While the promise of profitability beckons, the journey through the maze of purchasing a foreclosed property is filled with uncertainty. We want to outline some of the precautions buyers must take when considering the purchase of a foreclosure. Whether you are looking for an investment property, or you find a home that meets your criteria in distress, foreclosures frequently promise opportunity, but provide headaches instead.  Often the perceived benefits are overshadowed by the realities. Here are some of the reasons why foreclosure sales are rarely, "A Deal."

1. Foundations for Frustration

Foreclosed homes or distressed homes may have signs of distress beyond owners who were delinquent in making payments, there are issues that result from…

64 Views, 0 Comments

The concept of sharing a home with extended family members has gained a lot of traction post pandemic. From grandparents and parents to other relatives, more and more buyers are considering the benefits of multi-generational homes. If you've ever considered this living arrangement, you're not alone. Costs of childcare are high and so are many retirement communities, making homes with capabilities for many generations under one roof are appealing. Here are some of the top drivers for the trend and considerations if you are considering buying for multiple generations in the Triangle.

Embracing Multi-Generational Living

According to the National Association of Realtors (NAR), affordability is a key factor influencing the decision to choose a…

87 Views, 0 Comments

We have a message for those homebuyers who feel locked in by current mortgage rates, but who are also looking to upsize or consider multigenerational housing, the time is now to consider a new home. There are so many benefits to new homes and we understand that it can be a confusing process, but you are far from alone. With such limited inventory in The Research Triangle Park, we are seeing many new developers offering their own favorable financing structures, good deals, and terms worth moving now for. Here are even more statistics and considerations for moving into a new construction home.

Near-Record Percentage of New Home Inventory:

According to the latest report from the National Association of Home Builders (NAHB):

"Newly built homes…

76 Views, 0 Comments

The "American Dream" foundation is often, homeownership. It signifies stability, independence, and attainment of a place of ones own. However, for Generation Z, born between 1997 and 2012, there are significant barriers to homeownership in the present market and making this dream a reality can be quite challenging because of higher mortgage rates and higher home prices than previous generations. This should not deter a whole generation from homebuying, because even outside of the "dream" it is a great way to stabilize your finances and build wealth and owning your first home can be attainable with the right strategic planning and resourcefulness.

Down Payment Assistance Programs

While home prices are not on the meteoric rise that they had been…

178 Views, 0 Comments

If you are putting off moving because you think that home prices will go down, you may want to rethink this strategy. There are a number of factors that have all experts predicting home prices continuing to rise. While the market may cool, and prices will likely not be going up by the soaring amounts that we saw in 2020 and 2021, {locally upwards of 20%}, make no mistake they are continuing to rise. Let's discuss the factors that come into play, latest data, and what strategies we think will be winners in the last quarter of 2023, and into 2024.

But what if prices drop?

If you put off moving because you're worried home prices might drop, you may want to rethink this strategy. Despite a massive increase in prices and the market correction in…

224 Views, 0 Comments

It might be hard to believe, but we are seeing incredibly high demand for homes. It is not something new and housing experts have predicted that we would be seeing housing constriction for some time, but when homes come to market, they sell quickly, and generally for great terms. More significant than the demand for homes, is the constriction of inventory. For those contemplating the idea of listing their home, this presents a true advantage if your home is priced correctly. Let's dive into the all-important question. Will more homes be coming to market?

Spring, Summer, Fall Trends, in Reverse?

Traditionally, the peak of the housing market occurs is the spring buying season, and sellers in turn prepare homes to sell in the fall or winter months.…

217 Views, 0 Comments

Purchasing a home is one of the most important financial decisions you will ever make. In the current real estate landscape, where we are post pandemic, low inventory, and with fluctuating interest rates, it is imperative that you have an expert guiding your hand in a decision of this magnitude. Whether you're a first-time buyer or a seasoned seller, partnering with an expert who has decades of experience analyzing historical data in addition to block on block local knowledge will be essential to making sound decisions and protecting your investments.

Experience is Key

No one is perfect and no Realtor is a mind reader, however, Realtors with more experience have the ability to put mortgage rates, home negotiation and pricing, and discussions…

245 Views, 0 Comments

There's no doubt about it that the housing market this year has felt extremely uncertain. From mortgage rates to a slower pace in home sales and fluctuating prices, homeowners, sellers, and buyers have been grappling with a landscape that requires reassurance. The Triangle area is still a great place to buy and definitely it's a great time to sell, if you have the right team and guidance. Don't take our word for it, let's take a look at the current state of the housing market, drawing insights from experts and industry projections, to shed light on what the rest of the year might hold for prospective homeowners, first time home buyers, and investors.

Mortgage Rates and Financing

The year 2022 witnessed a doubling of interest rates, a trend that…

256 Views, 0 Comments

Inspections play a critical role in ensuring the safety and, in turn, the value of a property. It is important to understand the distinction between permit inspections and home inspections when buying or selling real estate. Often buyers and sellers confuse permit inspections for home inspections. These two types of inspections are both important for different reasons. To best protect your investment, you should understand the difference to make informed decisions during the buying or selling process.

Permit Inspections: Compliance with Building Codes

Permit inspections ensure that construction or renovation work adheres to local building codes and regulations. These inspections take place during or after construction projects, such as home…

288 Views, 0 Comments