North Carolina foreclosures fell almost 42 percent in the first quarter from the same period last year. For the month of march foreclosure filings fell 40 percent from the same period last year.
from the previous month February fillings were down 3 percent.
All good stuff ...but I wouldn't pop the champagne just yet, and a very stark contrast to California (birthplace of our pain) where lenders started foreclosure proceedings on a record number of homes in March.
The number of California homes subjected to notices of default -- the first step in the foreclosure process -- surged 29.3 percent from February to March, to 54,268. That's a 26.3 percent increase from a year ago, and 25.8 percent above the April 2008 peak.
Across the country foreclosure filings rose 24 percent in the first quarter.
So move to North Carolina!!
Friday, April 17, 2009
Tuesday, April 14, 2009
Time to Buy?
It would appear that while rates are at an all time low, and there is $8000 available for first time home buyers, people are being guarded at the moment.
To further encourage people, in our county, Johnston which is just east of Raleigh the whole county is eligible for the USDA program which offers 100% financing.
I believe the job losses and instability in the job market are making people wait and see what tomorrow brings.
Looking to the future my wife is a labour and delivery nurse who is crazy busy these days with babies being born, and some day they will need to buy houses!
We just re-financed our own mortgage today to a rate south of 5% which is remarkable.
To further encourage people, in our county, Johnston which is just east of Raleigh the whole county is eligible for the USDA program which offers 100% financing.
I believe the job losses and instability in the job market are making people wait and see what tomorrow brings.
Looking to the future my wife is a labour and delivery nurse who is crazy busy these days with babies being born, and some day they will need to buy houses!
We just re-financed our own mortgage today to a rate south of 5% which is remarkable.
Friday, April 3, 2009
Forbes rates Raleigh #1
Forbes has ranked Raleigh the No. 1 best Place for Business and Careers for the third straight year. Durham came in at at No. 3. In fact six cities in North Carolina made the list, Asheville, Wilmington, Winston-Salem and Charlotte round out the list.
Research Triangle Park was named along with the many colleges and collage grads who live here as factors, along with the great weather. The low cost of doing business and business friendly government is seen as key to the success of the area.
The report quotes Matthew Martin, economist at the Federal Reserve Bank of Richmond:
"Raleigh is holding up better than any place in North Carolina."
Research Triangle Park was named along with the many colleges and collage grads who live here as factors, along with the great weather. The low cost of doing business and business friendly government is seen as key to the success of the area.
The report quotes Matthew Martin, economist at the Federal Reserve Bank of Richmond:
"Raleigh is holding up better than any place in North Carolina."
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