Tuesday Raleigh Mortgage News 3/17/2015

North Hills Run Club starts Monday, March 30th!
North Hills Run Club starts Monday, March 30th!

Triangle home sales up, Raleigh on many “top” lists, but is it boring?

Happy St. Patrick’s Day! Have you spotted a leprechaun today? Spring is here and the weather is great (high today in Raleigh is 80)! Also, Zillow says that the best week to list your house is the 3rd week in March. Guess what this week is? So far, this looks true, as inventory is finally trending up.

Local news this week includes Charlotte Observer columnist, Mark Washburn, taking a shot a Raleigh in his “humor” column, “Boredom takes flight in Raleigh.” While I believe most of it is in jest, in this day and age of reading the headline, then commenting, it certainly has ruffled some feathers. As a Charlotte native, and 13 year Raleigh resident, I think this is all in fun.

This past weekend, I had the pleasure of pacing the Tobacco Road Marathon. It was a beautiful day, and even “Rudy” showed up. Next up, Rock ‘n’ Roll Raleigh. Looking for a new running group this Spring? We’ll be starting up the North Hills Run Club on Monday nights, beginning March 30th. We’ll congregate in front of World of Beer and have 3 and 5 mile routes. More info here. (And feel free to read a quick interview with local standout runner, Jarett Prady, that I did for Runologie).

Finally, the mortgage market has been somewhat volatile of late, and looks to continue that trend. That being said, rates are still very low in comparison to this time last year, and refinancing is still a great option for many. If you would like to see if you could save a few hundred dollars a month, let me know!


6 Stories in the Triangle Mortgage and Real Estate Headlines (and more)

1. Triangle home sales up nearly 5 percent in February
“Activity among the Triangle’s residential real estate agency firms picked up in February with the number of home sales increasing 4.8 percent compared to the year before, according to a report by Triangle Multiple Listing Service. Home sales totals were up 6.7 percent from January to 1,816 sales in February. The average home price for a house sold within the 16 counties in the greater Triangle region tracked by Triangle MLS also rose 4.7 percent in February – compared to the year prior – to $237,192. The median home price rose 1.5 percent to $197,913.” Read more from the Triangle Business Journal

2. Raleigh rated one of top 5 hottest housing markets in nation
“Potential home buyers—both millennials and baby boomers—are flocking to the state of North Carolina and one of its most vibrant cities, Raleigh, named one of BUILDER’s hottest housing markets for 2015. The state was one of the country’s top destinations for Americans on the move last year, according to United Van Lines, and Wake County, where Raleigh is located, is growing by about 66 residents a day.” Read more from Builder Magazine

3. Cary approves 186 homes, Google Fiber budget
“Town Council members approved a pair of proposals Thursday that will bring 186 new homes to western Cary, but some construction won’t begin until next year. The Cary Town Council unanimously approved a rezoning request that allows up to 138 senior living spaces on 46 acres on Indian Wells Road. Separately, the council voted 4-2 to allow 48 homes on 15 acres at the intersection of Turner Creek Road and N.C. 55.” Read more from the News & Observer

4. Raleigh ranked #1 city for tech startup, outside of San Francisco and Silicon Valley
“Raleigh is home to software maker Red Hat as well as an IBM campus. That undoubtedly contributes to its high local share of engineers and scientists. At 8 percent, that share is the highest among our Top 12 metros. Local startups are hiring at a faster clip than elsewhere in the Top 12, utility patents per 1,000 people are fairly high, and venture capital is proving accessible.” Read more from SelfStorage.com

5. Raleigh-Durham on Wall Street Journal’s list of “6 Great Small Cities for Food Lovers”
“Whereas once the national conversation around dining centered on culinary capitals like New York and San Francisco, now cities of all sizes are on the table. To back up that claim, we went looking for six of the most vital contemporary restaurant genres in six markets of varying size, none of which are well known for their dining scenes—yet. What we found was very good eating.” Read more from the Wall Street Journal

6. Updated standards for credit scores a positive for borrowers
“The top three credit agencies will change the way they handle errors and list unpaid medical bills due to a giant industry overhaul, an article in The Wall Street Journal said. One noteworthy change that the article said was that credit-reporting firms will now have to wait 180 days before adding any medical-debt information to consumer’ credit reports. This will give consumers time to clear up any discrepancies and catch up with other unpaid bills.” Read more from HousingWire

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Send Raleigh real estate and mortgage news/tips to pat@raleighmortgageblog.com and connect with me on Twitter, FacebookLinkedIn and Google+

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