Joyce Bliss REALTOR® 919-308-1215

Archive for January, 2012

Short Sale with over 1600 sq ft, 4 bedrs, 2.5 bathrs, 1 car garage and MORE

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Description
Nice 4 bedrooms, with 2.5 bathrooms. Master had tub and seperate shower with walk-in closet. There is woodburning fireplace in the family room. Vinyl siding for low maintenance upkeep. Close to the RTP.

Features
Bedrooms: 4
Bathrooms: 2.5
Parking Spaces: 1 car garage
Year Built: 2006
Subdivision: South Adams Park
Lot Size: 90x70x70x12x17x52
Garage Size: 1 car
Square Footage: 1630
Agent Name: Joyce Bliss
Broker: Haywood Davis
MLS #: 1818073

Location
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Example of local rates in the Triangle 2012

Interest Rate

Conforming Rates

Jumbo Rates

30-Year Fixed

3.625%

4.25%

15-Year Fixed

2.875%

3.645%

20-Year Fixed

3.5%

4.25%

FHA 30 Year Fixed

3.5%

%

3 Yr. Arm

2.375%

2.625%

5 Yr. Arm

2.5%

2.75%

Fannie Mae Sees 2012 Home Sales Up 3.5% to 4.74 million

Fannie Mae sees 2012 home sales up 3.5% to 4.74 millionby ANDREW SCOGGIN
Mortgage refinances may drop 77% by 2012
Originations Predicted to Fall 20 Percent Next Year: Report
Fannie Mae sees brighter 2011, raises GDP growth estimate to 3.4%
Fannie Mae: Housing starts to triple by 2013 to nearly 1.5 million
Fannie Mae lowers growth estimate as home prices continue to search for bottom
Friday, January 13th, 2012, 2:17 pm

The housing sector will likely take incremental steps forward in 2012, though total originations will fall on fewer refinances, according to economists at Fannie Mae.

The second half of the year should outpace the first six months in terms of growth, though fiscal policy and political uncertainty in Washington will likely drive consumer and business activity, the mortgage giant said.

Chief Economist Doug Duncan said positive consumer activity and challenges in housing and the global economy will equate to moderate growth for the year.

“We’re entering 2012 with decent momentum, especially on the employment side, which is fostering positive household and consumer behavior,” Duncan said in a release. “Unfortunately, we expect this momentum to slow as we move through the first half of the year.”

The report released Friday forecast total home sales to increase 3.5% to about 4.74 million in 2012 from 2011 with another 5% gain in 2013 to nearly 5 million. New home sales could jump 10.4% for 2012.

The Federal Housing Finance Agency home sales price index, excluding refinances, could dip 1.1% for 2012 from a year before, according to the forecast. Economists predicted the 2011 index would finish 4.6% lower than 2010.

Mortgage originations as dollar volume could see a decline as well in 2012, largely on a steep drop in refinances. The Fannie report said total originations will fall to $1.01 trillion in 2012 from a predicted final 2011 tally of $1.36 trillion. Economists expected refinancing to plummet to $540 billion from $894 billion.

Purchase mortgages, however, will rise to $471 billion in 2012 from a estimated 2011 total of $464, according to the report.

Total single-family outstanding mortgage debt will likely drop 1.3% to $10.14 trillion in 2012.

For the U.S. economy as a whole, Fannie researchers predicted real GDP would increase 3.3% in the fourth quarter to finish the year at 1.7% growth. Economists forecast 2.3% GDP growth for 2012 and 2013.

Write to Andrew Scoggin.

http://www.housingwire.com/2012/01/13/fannie-mae-economists-see-2012-home-sales-up-3-5-to-4-72-million

So what is “due diligence” money. First Earnest Money, now this!!! What is a home buyer to do?

Ok, so you knew “earnest money” was to show good faith on your part as a home buyer. Now, there is “due diligence” money. Do not panic, give me a call at 919-308-1215 and let me explain this to you. All home buyers whether new or seasoned needs to know what this new thing is all about.

What you need to know before buying a Home

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

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