North & South Carolina Real Estate Podcast with Bill Burns Bill Burns

Inventory is down in the Charlotte market, so here’s what you need to do to have a good chance at getting the home you want. Selling your home? Get a free home valuation Buying a home? Search homes for sale on the local MLS What’s been going on in the Charlotte market lately? Today we'll give you a quick breakdown. Our supply of homes dropped 50% during the month of January. We went from roughly a fourth-month supply to a supply of just 2.4 months. A big problem for us right now is days on market because the average is only 13 days. This being the case, it’s doubly important to be well-informed about the kind of property you’re searching for. To that end, a useful feature our team offers is a list of ‘coming-soon’ listings. This tool can allow you to be the first one to find out about a property that fits your needs so you can be the first one in the door. If you’d like to receive a copy of this list, just send us an email we’d be happy to provide it to you. “ It’s crucial to be well-informed about the kind of property you’re searching for. ” As far as mortgage rates go, there’s been some fluctuation since the election and the Federal Reserve raising funding rates near the end of 2016. However, they’re still holding pretty steady between 4% to 4.5%, depending on your loan product. With our short supply of homes, the biggest problem people have is not being able to make an offer before the house they’re interested in goes under contract. If you’re a buyer, the best thing you can do for yourself is get pre-approved early so you have your pre-approval letter in hand and you’re ready to make an offer the instant you find the house you want. If you would like to get pre-approved through Terry, you can reach him on his cell at (704) 267-4086 or email him at terry@fairwaync.com. If you have any more questions about our market or have a topic in mind you’d like to see me discuss in a future video, please don’t hesitate to give me a call or shoot me an email. I’d be happy to speak with you!

The $15,000 down payment assistance loan through the North Carolina Housing Finance Agency is one of the best loans out there available to home buyers. Selling your home? Get a free home valuation Buying a home? Search homes for sale on the local MLS Today I’m joined by Terry Whitesell, a senior mortgage planner at Fairway Independent Mortgage, to talk about a special down payment assistance program that can help you become a homeowner. There are a number of down payment assistance loans out there that are available to you. Right now, according to Terry, one of the best ones is the $15,000 down payment assistance loan that’s available through the North Carolina Housing Finance Agency.  “ This is one of the best loan options available for home buyers. ” Borrowers that meet certain credit and income guidelines can certainly qualify for this loan. The best part about this loan is that the forgiveness period is very short. If you live in the house for five years, the loan is totally forgiven. If you’re interested in down payment assistance and would like to know more, you can call Terry at (704) 267-4086, email him at TerryW@FairwayNC.com, or visit his website. If you have any other questions or have a video topic in mind, please feel free to send me an email or give me a call. I look forward to hearing from you!