Tuesday Raleigh Mortgage News 7/1/2014

Gouge Wrestling at Raleigh Brewing
Gouge Wrestling at Raleigh Brewing Company

Raleigh is “Steady Eddie,” Pending Home Sales Up, and Bojangles

July 4th Week! What better way to celebrate your American independence than by cheering on the USA in the World Cup,  realizing the American dream of Homeownership, and eating Bojangles! Their tweet (below) this week was great, and just shows how more companies are “getting it” in regards to social media. That’s the kind of presence I’m shooting for. So if I ever seem drab or robotic, let me know!

Zillow says Raleigh is a stable market, which is true. New jobs, more building, and a competitive real estate market. All good things. Cary knows it’s hot too, as it’s raised the cost of building permits by 5% for the second straight year. Will Cary ever cool off?

Mortgage rates continue to be very good, and if you haven’t refinanced already, now is a great time. Check out my finance calculator below to see how much you could save and contact me for a rate quote, so that you can be as exact as possible.

And as many of you know, I’m heavily involved in the running community in the Triangle. I am helping put on an event Friday, August 1st at Meredith College called the “Sir Walter Miler.” It will be a festival of sorts with a pre and post party at Raleigh Brewing Company, with food trucks, a sub 4 ABV Challenge with Raleigh, Trophy, Fullsteam, New Belgium, Mystery, and Natty Greene’s participating, and a sub 4 minute mile attempt. We’ve got a Kickstarter campaign going on at SirKickstarter.com with lots of great rewards. If running, beer, or food trucks are your thing, check it out!

3 Stories in the Mortgage and Real Estate Headlines

1. Raleigh is nation’s 5th most stable real estate market
“Buying and selling real estate has been a rocky road for homeowners across the nation, but Raleigh’s market has proven one of the strongest in the nation, according to recent research. Because so much wealth is tied to real estate, the state of the market is important for local homeowners. To further explore this element of importance, Bloomberg teamed up with real estate website Zillow.com to study which of the nation’s 50 largest housing markets have been the riskiest over the past 35 years — and they determined Raleigh is the fifth most stable market in the U.S.” Red more from the Triangle Business Journal

2. Pending Home Sales Surge in May
“Pending home sales rose sharply in May, with lower mortgage rates and increased inventory accelerating the market, according to the National Association of Realtors®. All four regions of the country saw increases in pending sales, with the Northeast and West experiencing the largest gains. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 6.1 percent to 103.9 in May from 97.9 in April.” Read more from the National Association of Realtors

3. No tax increases for Cary this year, but permit fees going up 5 percent
“The Cary town council has adopted a $261 million budget for fiscal year 2015 that does not include any property tax increases, but it does increase several fee structures that will impact new construction projects in the coming year. Building permit fees across the board will be increased by 5 percent, according to recommendations from the town council. It is the second year in a row that Cary has increased it building permit fees by 5 percent.” Read more from the Triangle Business Journal

What do I qualify for?

Thinking about refinancing? Maybe a new purchase? Click the link below to play with the numbers.

FinanceCalc

Also…

1. USA plays Belgium in the World Cup today at 4pm. Here’s “What to Watch For”

2. Raleigh’s oldest Dunkin Donuts has closed. Used to be the only one in town; now they’re everywhere!

3. Don’t give an inmate cigarettes, and more NC laws that are now in effect, as of July 1, 2014

Send Raleigh real estate and mortgage news/tips to pat@raleighmortgageblog.com and follow me on Twitter @patpricedotcom

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