Joe Worth's Real Estate Blog

Is it time for a turnaround?

Fri, 14 Jan 2011 11:45:16 0300

With home builders underbuilding over the past few years, the inventory picture is starting to improve dramatically. You can check http://www.fathomraleigh.com/ to check on local market trends. What were seeing in Fuquay Varina is that the market is picking up. So is now the time to buy? Maybe. Rates are up significantly over the past few weeks, so maybe it's time to get out and start looking. If prices stay low and rates correct, you could get ahead of the market by pouncing on the right one at that time.

In Fuquay Varina real estate is a critical part of the economy. Many homebuilders live in the area, and contractors are abundant. When the recovery takes hold it is evident around town. We are beginning to see those signs, as projects that have been on hold are being resumed. So why not start looking yourself? Now is a fantastic time to get ahead of the recovery. You can read on and monitor the recovery best articles every day at The Housing Recovery or continue to monitor this blog about North Carolina and the Fuquay Varina area.

This Winter May Be The Time To Buy

Mon, 20 Dec 2010 19:58:45 0300

The Fuquay Varina market may be ripe for investment or owner occupancy purchase.

How Foreclosure Affects Your Credit Score

Fri, 23 Apr 2010 12:09:58 0300

If you or someone you know is headed for foreclosure, you might be wondering how this will change your credit score. A recent article from CNNMoney.com breaks it down like this: 30 days late: 40 - 110 points; 90 days late: 70 - 135 points; Foreclosure, short sale or deed-in-lieu: 85 - 160; Bankruptcy: 130 - 240... However, this may not be the case for everyone. For example, I know of someone who lost their home to foreclosure about 2 years ago. This person always paid their bills on time, and had a decent credit score of around 700-730. Until they lost their job (at this time their home was also up for sale and under contract as a "short sale", but the bank would not approve it). At that point they decided to let the house go, since the mortgage was too much to keep up with, but kept paying all of the other bills on time, such as car loans and credit cards. This helped tremendously. Just a couple months after the foreclosure had finalized, this individual was able to land a well-paying new job, lease a new car, rent a home, and maintain a credit score of about 690. Unfortunately, they will not be able to obtain a new home loan for another year, but just so you know, there is still hope after foreclosure. Note: Don’t stop paying your bills because you think a foreclosure will ruin your credit.

There is still value in home ownership

Tue, 6 Apr 2010 10:52:44 0300

"Nearly two-thirds of Americans would still prefer to own a home, although the recent housing market turmoil and uncertain economy have made them a little more cautious about how and when, according to a survey released Tuesday." CNNMoney.com

Watch out for falling home prices

Mon, 1 Mar 2010 10:09:27 0300

NEW YORK (CNNMoney.com) -- Despite signs that the real estate market might be lurching forward, prices are expected to fall further this year and next. The average home price in the United States will fall by about 6% by September 2011, according to a joint report between Fiserv and Moody's Economy.com. And that's after plunging more than 27% in the past three years.

Foreclosure filings up and down... what is going on?

Fri, 12 Feb 2010 14:27:42 0300

"First, the good news: Foreclosure filings dropped nearly 10% between December and January. That's a total of 315,716 notices compared to 349,519 in December, according to RealtyTrac, which issues a monthly report on foreclosure activity." CNNMoney.com

Where your time & money is best spent when remodeling

Mon, 8 Feb 2010 10:15:47 0300

"According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment." CNNMoney.com

Update on Obama's Loan Modification Plan

Fri, 29 Jan 2010 09:33:34 0300

Okay, we promised to keep you updated on President Obama's HAMP, so here's an article from CNNMONEY.com summing up the latest news. "The new policy will make it harder for troubled homeowners to start the process, but it should make it easier for them to qualify for permanent assistance under President's Obama foreclosure prevention plan."

You can now file for your $8,000 tax credit

Tue, 19 Jan 2010 09:51:03 0300

1st time homebuyers can now file for their $8,000 tax credit using new form 5405.

How to: Invest in REITs

Wed, 13 Jan 2010 10:17:09 0300

"Most financial advisers suggest you should have a good 5% of your portfolio in real estate now."