Posts Tagged ‘Glen Laurel’
Wednesday, March 28th, 2012
To help combat the many foreclosures that homeowners across the country, including those who live in the community of Glen Laurel, are facing, the Bank of America may soon offer the option of a rental as an option to dealing with foreclosure. BofA has launched a pilot program where they are offering some of their mortgage customers who are facing foreclosure the option to be able to stay living in their homes and become renters instead of owners.
The “Mortgage to Lease” program was just recently launched by BofA and is currently being offered to only a small number of customers. Ron Sturzenegger, Legacy Asset Servicing executive of Bank of America, said in a statement, “This pilot will help determine whether conversion from homeownership to rental is something our customers, the community and investors will support.”
Those homeowners who choose to take part of this pilot program will hand over their title to the bank, who at that time will waive any outstanding mortgage debt. The homeowner will then be eligible to lease his/her prior home for up to three years at or below current rental rates. The monthly rental rate will be below what they are currently paying for their monthly mortgage payment. The bank will also waive all taxes on the property or homeowners insurance that tenants may hold.
Now is the perfect time to buy or sell a home in Glen Laurel, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, foreclosures in Glen Laurel, Glen Laurel, home sales in the Triangle area, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team
Posted in Foreclosures, Home Builders | No Comments »
Tuesday, March 20th, 2012
If you have been contemplating selling your home in the community of Glen Laurel now may just be the perfect time to do so. Existing home sales across the country posted their third gain in the last four months. Investors and first-time home buyers are helping to boost the market when it comes to existing home sales, making it the perfect time to sell your Glen Laurel home. According to the National Association of Realtors (NAR) existing-home sales — including single-family homes, townhomes, condominiums and co-ops, went up by 4.3 percent from the month of December to January. This number remains very similar to what we saw during this same period of time last year.
We are also seeing a drop in the number of available homes for sale. Foreclosures still remain a large number of homes available on the market. According to the NAR foreclosures and short sales made up 35 percent of homes sold this past January. 23 percent of all homes purchased in January were bought by investors. First-time homebuyers accounted for 33 percent of all homes purchased in January up from 31 percent in December.
If you are interested in buying or selling a home in Glen Laurel, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, exsisting home sales in glen laurel, foreclosures in Glen Laurel, Glen Laurel, Glen Laurel Schools, home sales in the Triangle area, homes for sale in Glen Laurel, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, short sales in glen laurel, The Geo Team
Posted in Homes for Sale, Housing Market | No Comments »
Wednesday, March 14th, 2012
Good news, Glen Laurel homeowners! If you are underwater on your home mortgage loan and it is held by Bank Of America (BofA), you may be eligible to have the amount you owe on your loan reduced. BofA recently announced that they would be helping up to 200,000 homeowners underwater on their home mortgage loans as a result of the government foreclosure settlement. BofA spokesman Richard Simon said, “The bank made the commitment as part of a $1 billion side deal to the $25 billion foreclosure settlement.”
For some struggling homeowners in Glen Laurel and across the country, the principle reduction on their homes loans as a result of this settlement could potentially leave them no longer underwater on their mortgages. The average reduction anticipated is $100,000. As a result of BofA reducing the principle on those homeowners’ mortgages, it could help them reduce the penalties they face from the foreclosure settlement by $850 million.
Homeowners who have mortgage loans held by BofA and were at least 60 days delinquent on their mortgages as of January 31 are eligible. Loans that are owned and backed by Fannie Mae, Freddie Mac, the Federal Housing Administration or the Department of Veterans Affairs are not eligible. Homeowners who are eligible should be receiving notices from BofA as early as next month.
If you are interested in buying or selling a home in the Triangle area, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, foreclosure help.Bank of America, foreclosures in Glen Laurel, Glen Laurel, home sales in the Triangle area, homes for sale in Glen Laurel, Rodney Geohagan, The Geo Team, Underwater mortgages
Posted in Homes for Sale, Housing Market | No Comments »
Monday, February 27th, 2012
After many years of a struggling housing market in the Triangle Area 2012 may be the end of this housing crisis. A recent report released by Capital Economics is predicting that the housing crisis will end this year. They are basing their prediction on banks loosening their credit standards making home owner ship more obtainable to many.
The average credit score that most lenders are looking for to attain a mortgage at this time is at least 700. This number is quite a bit higher than what we saw prior to the housing crisis. Mortgage lending standards are stabilizing and a credit score of 700 was similar to what was required last year also. We are also seeing a loosening of credit availability among lenders. There are many lenders that are now lending amounts as high as up to 3.5 times the borrowers earnings. This number is slightly up from the 3.2 times borrower earnings we were seeing. Banks are also changing their loan-to-value ratios (LTV), this is the key indicator that Capital Economics is basing their prediction on a recovery on.
The ability to obtain your dream home in Glen Laurel just got easier, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, foreclosures in Glen Laurel, Glen Laurel, home sales in the Triangle area, homes for sale in Glen Laurel, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team
Posted in Homes for Sale, Housing Market, Real Estate | No Comments »
Monday, February 13th, 2012
Home prices in the Triangle area and across the nation are struggling, and a recent report released by Case-Shiller Index showed just how much. Here in the Triangle area the price of homes has fallen 3.1 percent over the past year. The Triangle area fared better than the rest of the country, however, who on average experienced a 5.9 percent price drop according to Fiserv, a company based out of Wisconsin that provides information and software to the financial services industry. In the last three years, we have seen home prices fall by 7.4 percent. Fiserv is predicting that home prices will once again begin to stabilize by the middle of 2012 as a result of home ownership becoming more affordable and a strengthening economy.
Many more Americans are choosing to rent a home. However, it is now cheaper to have a monthly mortgage payment. The current average monthly payment for a mortgage is now $700, which is down 40% from its peak in 2006. The cost of renting is up. The average price of rent in the Triangle area for the month of September was $838, which is up 2.2 percent from a year ago, according to the Triangle Apartment Association and Karnes Research. These numbers show how affordable home ownership is, and there is no better time than now to buy your dream home in Glen Laurel.
If you are interested in buying or selling a home in the Triangle area, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: apartments for rent in raleigh, certified distressed property expert, For Rent in the Triangle Area, Foreclosed homes in Raleigh, foreclosures in Glen Laurel, Glen Laurel, home sales in the Triangle area, Homes for rent in Raleigh, homes for sale in Glen Laurel, interest rates in the Triangle Area, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team
Posted in Homes for Sale, Housing Market, Real Estate | No Comments »
Wednesday, January 25th, 2012
Home sale numbers in the Triangle area for 2011 are in, and they are not as positive as we would hope. Home sales fell 6 percent in 2011 to numbers we have not seen since 2002. The good news is that toward the end of 2011 we saw an uptick in home sales, which could be an indicator that the housing market in the area is on the mend.
Durham, Johnston, Orange and Wake counties had a total of 3,600 homes sold in the fourth quarter of 2011, which was up 10 percent from the same time period in 2010, according to the Triangle Multiple Listing Services data. Pending home sales were also up 12 percent for the fourth quarter of 2010 in the Triangle area. The average price of a home sold in the fourth quarter was $230,000, which is down about 6 percent. The number of existing homes on the market dropped drastically from April to December of 2011, with a 35% drop seen. The number of new homes on the market has also decreased. Compared to 2008 the number of new homes on the market is 60 percent less. If we continue to see the number of existing homes and new homes decreasing, we could see home prices begin to stabilize.
Stacey Anfindsen, a Cary appraiser who analyzes MLS data for area real-estate agents said, “We should be back to the little percentage changes between zero and 5 percent.” He continued, “I don’t foresee anything double-digit in percentage changes from a closing standpoint.”
If you are interested in buying or selling a home in the Triangle area, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home, and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, Foreclosed homes in Raleigh, foreclosures in Glen Laurel, Glen Laurel, home sales in the Triangle area, homes for sale in Glen Laurel, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team
Posted in Homes for Sale, Housing Market | No Comments »
Saturday, January 21st, 2012
Buying a home in the community of Glen Laurel is a big decision, and many new homeowners rarely pay attention to the ins and outs of homeowners insurance on their new home. Obtaining a homeowner’s insurance policy is an easy task. You will need proof of homeowner’s insurance when closing on your new home in the Triangle area. While it may be easy to get insurance on your home, do you really know if you are adequately covered?
Coverage On Your Dwelling
Near the top of your insurance policy, you will see building/dwelling/property, which indicates how much it would cost to rebuild your home if it was completely destroyed. Keep in mind that normal insurance policies tend to not cover earthquakes or floods. You can choose to purchase policies separately that will cover these items. Do not under-insure your home! Review your policy each year to ensure that your coverage is appropriate as the cost of building materials rise.
Liability Coverage
Liability coverage should come standard on your homeowners insurance policy. For instance, if someone visiting your Glen Laurel home were to get hurt and choose to sue you, your insurance company should step in and pay for the cost of an attorney to represent you. However, there is a limit to how much the insurance company will pay. $300,000 is a customary amount that is covered, but you do have the option of adding additional liability coverage, which is called an umbrella policy.
Deductibles
The amount you pay as a deductible is something that you get to choose. A deductible is the amount of money that you will have to pay out of pocket if you need to file an insurance claim. The higher your deductible, the lower your annual insurance rate will be.
Extra Items
Typical insurance policies will not cover things such as jewelry, paintings, and other items of high value. If you have items of meaning that you want to have insured, do not forget to mention these things to your insurance agent when signing up for a new policy.
If you are interested in buying or selling a home in Glen Laurel, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home, and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, foreclosures in Glen Laurel, Glen Laurel, home insurance, home sales in the Triangle area, homeowners insurance, homes for sale in Glen Laurel, mortgage insurance, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team, Triangle Mortgages
Posted in First Time Home Buyers, Home Improvement, Homes for Sale | No Comments »
Friday, January 13th, 2012
Mortgage rates in the Triangle area have been down for some time now, but it appears that they are continuing to trend downward. Across the nation the average rate on the 30-year fixed mortgage dropped to 3.91 percent last week according to Freddie Mac. This rate matched the historical low number we saw a few weeks ago. Those looking for a 15-year fixed rate loan will be happy to know rates have dropped to 3.23 percent – down slightly from 3.24 percent the week prior. The number is up slightly from a record low we saw a few weeks ago of 3.21 percent. The average rate listed does not include any extra fees or points.
Mortgage rates have historically followed the yield on the 10-year Treasury note, which has fell 2 percent last week. Many economists are predicting that the Treasury note will continue to fall even lower in the future if the Fed chooses to launch another round of bond purchases. Many economists are predicting that the Fed will go ahead with another round of bond purchases in the near future.
Decreased mortgage rates are a wonderful thing if you are looking to buy a new home in the community of Glen Laurel, or to refinance your current Glen Laurel home. Low mortgage rates across the country have done little to help the housing market at this time. Interest rates hovered around 8 percent for the last eight weeks in 2011, and many who are eligible to refinance their homes have done so.
Take advantage of these low interest rates and buy a new home in Glen Laurel. Contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: certified distressed property expert, foreclosures in Glen Laurel, Glen Laurel, home mortgage interest rates, home sales in the Triangle area, homes for sale in Glen Laurel, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team, triangle home interest rates
Posted in Housing Market | No Comments »
Friday, January 6th, 2012
The economy of the town in which you live plays a large role in many aspects of your life. Living in Glen Laurel, you can rest assured that the city of Clayton, North Carolina, is growing stronger. After three years of seeing an economic downturn, recent development projects in the city of Clayton show that its economy is now improving.
Many new developments have helped play a role in strengthening the local economy. The promises of the N.C. 42 West corridor, the growth and resumed development of local subdivisions, large retailers moving into the area and the effort to promote residents to shop locally have all played a part.
Town Manager Steve Biggs said, “We are well-positioned to take advantage of two things. As the Triangle improves, people move here, and local employers and industries continue to prosper.”
The subdivision of Summerlyn, which is located on Glen Laurel Road in east Clayton, was stalled in building as a result of the down economy, but this past fall has once again started building. Chandler’s Ridge, another subdivision that suffered from bankruptcy, will also resume building soon.
On the industrial side, the city of Clayton saw the addition of the Coca-Cola Bottling Co. after consolidating from its downtown Raleigh location. Biggs is hoping that with the pending Coca-Cola site other large corporations will choose to call Clayton home.
The Chamber of Commerce and the town have been encouraging everyone to shop locally through their campaign called, “Think Clayton. Think Shopping.” Shopping locally keeps residents’ money in town and helps keep our local economy strong.
If you are interested in buying or selling a home in Glen Laurel, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.
Tags: buy a home in clayton nc., certified distressed property expert, clayton nc economy, clayton nc shopping, foreclosures in Glen Laurel, Glen Laurel, home sales in the Triangle area, homes for sale in Glen Laurel, homes in clayton nc, Raleigh Homes For Sale, Raleigh Real Estate, Rodney Geohagan, The Geo Team
Posted in Housing Market, Neighborhood | No Comments »
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