So things may look grim after this week’s announcement that new home sales slowed by a third in May, but there actually is an upside to this. Rates are still at lows not seen since the early 1970s. So not only can you get incredible values in our Chapel Hill real estate market - you can lock in rates that make the money you borrow CHEAP!
Contact me, Reg Morgan, your Chapel Hill realtor for more information on our Chapel Hill and Durham real estate markets.
The market in Chapel Hill real estate is a good one. We have the University, Duke, RTP and a great quality of life. Relocations to Chapel Hill and the triangle are always strong.
Looks like we have even more reason to be optimistic, judging from an article on CNBC.com, Bill Gross the PIMCO bond guru believes that interest rates will go as low as 3.75% next year. Good news for Chapel Hill homebuyers.
If you have questions about our Chapel Hill real estate market - and it can be complicated - call Reg Morgan.
There has been alot of attention paid in Chapel Hill to some high profile real estate auctions. The Hilltop House at 740 East Franklin Street was the subject of a recent article in the Chapel Hill News. What the article didn’t mention because of early printing deadlines, is that not a single qualified bidder showed up. Many people think of an auction as a last resort when a property isn’t selling. But there are so many other options other then tagging the property as “up for auction.” With the unfortunate alternative as in this case, that locals have seen the sign, the article and know that the house did not generate any interest.
The price is the first thing that should be reevaluated and that should be throughout the sales process. A good realtor will have a sensible price from the start and with a good marketing plan that includes print and internet advertising, staging, and reasonable home improvements the home should attract attention from local realtors and buyers. Their feedback is instrumental in tweaking the home’s interiors/exteriors, marketing and price.
For more information about selling your Chapel Hill home, contact Reg Morgan, your Chapel Hill realtor. Take a look at the current Chapel Hill MLS listings to see what is for sale now.
The Federal Reserve will announce their plans for a rate change this afternoon, and as you know if you follow the Chapel Hill real estate market, any change will impact the rates home buyers will get for their mortgages. Rates are still low now and most experts expect that for its last meeting of the year the Fed won’t make any changes.
Average overnight rates for a 30 year fixed mortgage 5.63% and 15 year fixed is 5.39%. Still historic lows and a great time to get into our local real estate market.
If you are looking for a home in our Triangle area — Raleigh, Chapel Hill, Cary, Durham or Hillsborough, call Reg Morgan to find your place in our local market.
Good news for home buyers. Freddie Mac announced yesterday that mortgage rates fell for the 10th time in less then 3 months. The 30-year fixed-rate mortgage (FRM) averaged 6.30 percent, down from 6.31 percent the week before. The 15-year fixed-rate averaged 5.98 percent — this is the lowest that the 15-year fixed-rate mortgage has been since last March.
“Mortgage rates fell to a six month low this past week, and, not surprisingly, home refinancing rose 18 percent last week, accounting for almost half of all mortgage applications,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. “This is due both to the recent decline in mortgage rates and to homeowners who are refinancing ARMs rather than waiting for them to reset in the future when rates may be higher.”
Great news if you are looking to buy or sell your Chapel Hill home. Call Reg Morgan to discuss the real estate possibilities in our competitive market.
Take a look at the current Chapel Hill MLS listings.
One of the biggest events in anyone’s adult life is purchasing their first home. As a first time home buyer in the Chapel Hill area, you are faced with a daunting array of choices. Which town?   Which school district?   Which neighborhood?  How will my commute be? How do I get the best mortgage?
Your first question should be - how do I find a realtor with the experience and knowledge to guide me through these questions?  Your first call should be to Reg Morgan, a Chapel Hill realtor with over 20 years of experience in buying and selling real estate.  The real estate market is especially complicated right now, but rates are still very low and in many areas of the Triangle, it has really become a buyers market.
Call Reg Morgan to discuss your real estate needs. Check out our local Chapel Hill MLS listings now. On my website you can access listings for the Triangle area of North Carolina. Raleigh, Cary, Durham, Apex, Hillsborourgh, Carrboro, Chatham County - and of course, Chapel Hill are great locations to own your first home!
The Mortgage Bankers Association has released it’s latest numbers and they are good for Chapel Hill real estate. The number of new mortgages was up again from last week’s four year lows.  The seasonally adjusted index of mortgage application activity rose 4.9 percent for the week ending August 4th — and that was before yesterday’s pause in the Fed’s rate hikes!
Here in Chapel Hill we see good activity across the board - but if you are in the market to buy or sell your Chapel Hill home, you need to be smart.  Experience, good marketing and the strength of Prudential Carolinas Realty’s nationwide network will help you to get the very best from your real estate transaction.
Call me, Reg Morgan - your Chapel Hill realtor with over 20 years of experience!
As a Chapel Hill realtor, I try to guide buyers and sellers through complicated real estate transactions. Here’s a quick list from Liz Pulliam Weston of MSN of the top mortgage mistakes — call me so I can help guide you through this important process.
Mortgage Don’ts!
·       Not fixing your credit
·       Not looking for first-time home buyers’ programs
·       Not getting pre-approved for a loan
·       Borrowing too much money
·       Not shopping around for rates and terms
·       Paying junk fees
·       Not planning for closing costs
·       Not having enough cash on hand after closing
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Freddie Mac announced that mortgage rates have fallen for the first time in five weeks.   The average rate on the 30-year fixed-rate mortgage was 6.74 percent for the week ending today, down from 6.79 percent last week. For comparison, one year ago, the 30-year mortgage rate averaged 5.66 percent.
Freddie Mac also said the average rate on a 15-year fixed-rate mortgage fell 6.37 percent from 6.44 percent the previous week. A year ago, that loan averaged 5.25 percent.
Sounds like good news for Chapel Hill real estate! Take a look at some of the current home listings in Chapel Hill.