I see this as extraordinarily good news - the President of the Boston Fed, Eric Rosengren suggested on Wednesday that relief be given to those homeowners who are ‘underwater’ in their mortgages. Current rules do not allow them to take advantage of the historically low interest rates - they are left hanging out there. This would be a tremendous help to the economy and hopefully the housing market.
Let’s do it!
I am amazed at how low mortgage rates are! I have a client that locked in today on 15 year fixed that was BELOW 3%! This is just unheard of - and even with over 22 years in the business I still don’t remember money being so amazingly cheap!
We’re in a new world, Spring was slow, Summer was much better most likely from pent up demand that couldn’t wait any longer to buy. If you can’t wait to buy, call me, Reg Morgan. Our market in Chapel Hill, Durham and Carrboro has taken some hits but we are still strong and the values out there are just incredible.
It’s time to get back in the game!
Wow. Just looking back and realize I have been blogging for more then five years here on this site. When it started I primarily did it as a way to talk about the local Chapel Hill real estate market. Five years ago our market was pretty predictable. Town was filled with newly minted real estate agents and business was, well - booming!
Flash ahead to 2011 and some areas of the Chapel Hill or Carrboro market feel like they have been through the ringer. While Chapel Hill has fared much better then most many neighborhoods are not worth what they were. That’s a big disappointment. The crowds of new realtors have dissipated, this market is not the place to start off, that’s for sure.
I’ve said it before and I will say it again - choose experience when looking for your real estate agent. Reg Morgan has almost 25 years of experience in buying and selling real estate.