Triangle Area Fraud Alert

Triangle Area Fraud Alert! Beware Homeowner Benefit Agreements!

Recently My NC Homes was made aware by one of our preferred real estate attorney's and a local Register of Deeds of a worrying practice occurring in North Carolina. We would like to warn our clients, prospective clients, and the public of this practice before they are impacted. Here is what to know about Homeowner Benefit Agreements and what they really mean.

What are Homeowner Benefit Agreements?

As inflation impacts many homeowners there are those who need extra cash and who fall prey to predatory lenders and or real estate firms/brokers offering them quick cash with out any loan documents. A Homeowner Benefit Agreement binds the signer who owns a property to a certain…

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Your Guides to Buying or Selling a Home This Fall

If you are considering buying or selling a home this fall, you probably have a lot of questions. Mortgage rates have been rising, inflation concerns have some worried about investing in real estate, and rents continue to rise. For many waiting until they feel more comfortable with the market, may not an option. The reality in real estate and in life is that there really is no absolute perfect time to buy or sell. In real estate there's an old saying, "The best time to buy a home is right now or 20 years ago." Hindsight is always 20/20 and the best we really can do is educate ourselves with the necessary information so that we make a smart; informed decision. The great news is while it is still a…

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Will my Home Still Sell in This Market?

The past few years have been a really wild ride for sellers and buyers. During the pandemic, mortgage rates were at record lows, supply shortages compounded already constricted inventory levels, and buyers were buying anything and everything that came on the market. The market has now cooled off a bit and to combat inflation, mortgage rates are up. What does that mean for today's seller? We pride ourselves on providing honest estimations of what our clients should do as buyers and sellers, and we are offering this market analysts to help you make the right decision, for you and your family at this moment. If you would like to discuss your unique case, contact us to strategize further.

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Think home prices in the Triangle will be falling? Think again. The past two years have witnessed incredible equity gains nationwide and in some areas, well in the double digits. Prices must slow, right? The increase in interest rates will slow down buyers, right? We address these questions regularly with our clients and the indicators point to continued gradual gains in equity and interest rates that are likely to increase, but home prices are far from at a free fall. Let's discuss.

Home Price Appreciation 2022 vs 2021

According to data from CoreLogic, the rise in home prices over the past year and a half show a dramatic increase in the rate of home price appreciation in 2021, where home prices are still rising in 2022, they show a more gradual…

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We go over many of our buyer concerns on our blog and usually, one of the most common ones is, "Is right now a good time to buy", accompanied by, "Is right now a good time to borrow?" Depending on what your finances look like and how much you have saved for a down payment, it is almost always a good time to invest in real estate. Even with limited inventory, inflation, and increasing interest rates. Let's talk about why this is the case and why you should not necessarily delay home ownership plans in the face of inflation.

First, housing is an asset that over time grows in value so if you have cash and would like someplace to put it so it does not lose value, housing is a great option. Ali Wolf, economist at Zonda posits "If you have cash and are…

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Rents are skyrocketing, and while the labor market is strong, salaries are not keeping pace with inflationary pressures combined with ever increasing rents. Whether you're looking to buy for the first time and saving for a downpayment or those looking to sell and then rent, the challenge of renting is unstable housing  costs. Ideally you could budget a specific amount of money per month for housing however volatile rental costs are making this extremely challenging. Below we review the state of the market and offer some common sense ways to stabilize housing costs through homeownership.

State of the Market

According to the ATTOM Data 2022 Rental Affordability Report, owning a home is more affordable than renting in the majority of the…

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Are you sitting on a large holiday bonus? Have you had a windfall financially and are considering paying off your mortgage early? This is a common question our clients ask us and many are often a little surprised to hear us tell them that it isn't always the best idea and that depending on a variety of individual factors it may not be in their best interest to focus exclusively on paying off their mortgage. There are a number of consideration when considering whether you should pay off your mortgage particuarly if they have other debts besides their mortgage.


Prepayment Penalties

Did you know you can be penalized for prepayment? Lenders count on the interest of your loan, so paying off early to save on the interest may require…

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It occurred to us as we head into the holiday season, that our recent market coverage content is similar to A Christmas Carol by Charles Dickens. A cautionary tale for the Seller waiting for prices to rise another 15-20%. While home prices continue trending upwards right now, they are decelerating or slowing as the Fed has made it clear that it intends to raise interest rates in the next few months. For those looking to sell their home and buy another, sooner may be better than later before rates start to increase. But you do not have to take our word for it. This week, we assembled the top real estate expert predictions for the housing market in 2022.

In our research we came across a wide array of “expert” opinions on the real estate market. Which…

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We are seeing home after home sell quickly to buyers making offers well over the asking price, often without contingencies, and with great terms for our Sellers. Buyers continue going to great lengths to ensure that their offer is sufficient to win in multiple offer situations; or are buying new construction homes, depsite the lack of flexibilty that builders are offering and the uncertainty of delivery date due to supply side issues. From 2020 on we have seen month after month of price increases which begs the question, will we have an adjustment in The Triangle and if so; what will it look like. We have compiled information from the leading sources on inflation, mortgage rates, and what the market did in October to help explain prices. Let’s look at…

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Understanding Appraisal Issues

I know this post is likely to generate a lot of negative comments from appraisers and mortgage lenders but I am willing to take the heat and be honest. Appraisals have always been "A necessary but pointless headache" for Buyers, Sellers and their Realtors.

Here's the bottom line, an appraisal is nothing more than one person's opinion of valuation. It may or may not be a well-reasoned, educated valuation; regardless of whether it is a well done appraisal or not; at the end of the day, it's meaningless other than to the Lender in terms of what they're willing to lend a buyer.

For context and to understand I'm not some upset Realtor indulging in a rant; I have been a full time Broker for more than 40 years. My…

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