As the Lending Market continues to recover, Private Mortgage Insurance is once again becoming affordable. Recent changes to FHA rules make them more expensive, and the Mortgage Insurance now runs for the life of the loan. Without a refinance borrowers may be paying MI for 30 years, even when they have a large amount of equity. WalletHub recently published a detailed report on this effect, and you can see the details at the link below. Be an aware consumer and see the details. If you need a good lender to guide you, just let us know Wallet Hub Report on PMI
Well the results are in and it’s another win for Raleigh, NC. Forbes just published their “Best Places for Business and Careers 2014″ report. Not surporisingly for those of us who live in Raleigh, we came out #1. Forbes Reasons were:
“Fueling Raleigh’s consistent results are business costs that are 18% below the national average, and an adult population where 42% have a college degree, the 12th best rate in the U.S. (30% is the national average). Raleigh is home to North Carolina State University and nearby schools include Duke University and the University of North Carolina at Chapel Hill. The area’s appeal has led to a strong inflow of new residents to the city, which boasts the sixth fastest net migration rate over the past five years.
Research Triangle Park continues to fuel significant development in the area. The park is located at the core of the Raleigh-Durham-Cary Combined Statistical Area, and it is the largest research park in the country. It features roughly 170 companies that employ 39,000 full-time, mostly high-tech workers. There have been 1,800 start-up companies created at RTP since 1970.
Networking giant Cisco Systems announced plans last month to add 550 jobs in RTP by the end of 2017, in addition to the 4,600 already in the area. “By expanding our presence and hiring the best talent, we will continue developing technology solutions that will enable the Internet of Everything and fuel innovation here in RTP,” said Cisco President Gary Moore in a statement announcing the news. Other top employers in the park include IBM, GlaxoSmithKline , Fidelity Investments ,Biogen Idec, Credit Suisse and BASF .”
If you want more information on living in Raleigh or the surrounding towns in the Triangle Contact us.
The numbers for May have just been released by the National Association of Home Builders (NAHB). It’s good news, the seasonally adjusted annualized rate rose to 504,000 in May. That’s a 18.6% increase year on year and the highest rate since May 2008. There are more signs that buyers are getting off the fence and recognizing that now is a great time to buy a home. Home Affordability is expected to decrease as prices and interest rates rise faster than salaries. The original numbers from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau can be viewed here: Home Sales for May 2014.
Open flowing light filled home. Both Master Bed and Guest are oversized. Two Further Bedrooms. Large Living Room wired for speakers. Separate Dining Room. Secluded Deck. 15 Minute to Duke. 15 Minutes to RTP. 15 Minutes to Brier Creek. Large lot. Laminate floors throughout Living, Dining, Breakfast, hallway. Tile in Kitchen. Washer, Dryer + 2 Refrigerators convey. Just move in!
It seems that the Housing Market Downturn is certainly over. See this article from CNN Money which talks about the Case Schiller index which is widely regarded as the gold standard for tracking nationwide home pricing. If you have been thinking about buying, there may never be a better time to afford a home than now.