Tag Archives for " 2011 "

Charlotte Home Prices Continue to Fall

Home prices have continuously fallen in 18 of 20 US States over the past year. This statistic was found by a report made by Standard & Poor’s Case-Schiller Home Price Index released early this month.

The Mecklenburg Times published an article on this data last week. According to that article, home prices in the Charlotte meto area fell 4.8 percent in January from the same month a year ago and the area’s home prices were down 1.1 percent from December to January.

“Keeping with the trends set in late 2010, January brings us weakening home prices with no real hope in sight for the near future,” David Blitzer, chairman of S&P’s index committee, said of the U.S. housing market.

“These data confirm what we have seen with recent housing starts and sales reports,” he said. “The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery. At most, we have seen all statistics bounce along their troughs. At worst, the feared double-dip recession may be materializing.”

Full article

For more information on affordable, available homes visit ShowcaseRealty.net

Charlotte’s Unemployment Rate Dropping…

The Charlotte Business Journal published today that according to the N.C. Employment Security Commission unemployment in the Charlotte metro area dropped to 10.7 percent in February from 11.2 percent in January.

The following is an excerpt from this article detailing employment pertentages in the Charlotte Metro & surrounding areas:

“Mecklenburg County’s jobless rate in February was 10.2 percent, unchanged from the January level.

Here are the February unemployment rates for N.C. counties in the Charlotte region, followed by the January rates:

•Alexander: 11.1 percent, down from 12.3 percent.

•Anson: 12.9 percent, down from 13.8 percent.

•Cabarrus: 10.3 percent, down from 10.8 percent.

•Catawba: 12.2 percent, down from 12.6 percent.

•Cleveland: 12 percent, down from 12.4 percent.

•Gaston: 11.4 percent, down from 11.6 percent.

•Iredell: 11.1 percent, down from 11.4 percent.

•Lincoln: 11.5 percent, down from 12 percent.

•Mecklenburg: 10.2 percent, unchanged.

•Rowan: 11.3 percent, down from 12 percent.

•Stanly: 11 percent, down from 11.8 percent.

•Union: 9.2 percent, down from 9.6 percent.

As previously reported, North Carolina’s unemployment rate dipped to 9.7 percent in February from 9.8 percent in January.”

For the full article: Charlotte-area unemployment dips to 10.7% | Charlotte Business Journal

For an easy way to search for affordable and available homes in the Charlotte Metro & surrounding areas, visit ShowcaseRealty.net.

Showcase Realty’s New Website!

All of the agents and staff here at Showcase Realty are very excited to introduce our brand new website! Same url: www.showcaserealty.net but different layout!

We hope to add to it as we go and continue to supply  all of the viewers with as much information as possible to help make your buying or selling journey a successful and smooth process. Please feel free to check it out and look around.

If you were signed up for a listing alert you will need to sign back up through the new site – and if you weren’t signed up for a listing alert this is the perfect time to do so! You will get email updates on new properties according to your search criteria, you can save your searches and mark favorite listings.

So go ahead and take a look: www.ShowcaseRealty.net

We look forward to sharing our information with you!

February 16, 2011

Still Looking for a Reason to Buy? FHA Raising Annual Mortgage Insurance Premiums

FHA Announcement: Raising Annual Mortgage Insurance Premiums

Are you still in need of one more reason to kickstart the process of buying a home? You could possibly end up saving money if you choose to do so before April 2011.

The Federal Housing Administration (FHA) announced this week that it will be raising its annual mortgage insurance premium (MIP) by a quarter of a percentage point on all 30- and 15-year loans. This increase comes as part of a new premium structure for FHA-insured mortgage loans the FHA is putting in place in response to the Obama administration’s housing finance reforms. The new structure will apply to all new loans insured by the FHA on or after April 18, 2011. Existing and reverse mortgage (HECM) loans insured by FHA are not impacted by the pricing change.

The following is an excerpt from a DSNews article reported on Februay 15, 2011:

“FHA Commissioner David Stevens says the annual payment adjustment will increase borrowers’ costs about $30 per month and will help to strengthen the agency’s depleted coffers.
‘After careful consideration and analysis, we determined it was necessary to increase the annual mortgage insurance premium at this time in order to bolster the FHA’s capital reserves and help private capital return to the housing market,’ Stevens said in a statement.

He continued, ‘This quarter point increase in the annual MIP is a responsible step towards meeting the congressionally mandated two percent reserve threshold, while allowing FHA to remain the most cost effective mortgage insurance option for borrowers with lower incomes and lower down payments.’

The 25 basis point rise was proposed last week as part of the Obama administration’s report to Congress on reforming the nation’s housing finance system, and was detailed in President Obama’s fiscal year 2012 budget released Monday.

According to FHA, this premium change enables the agency to increase revenues at a time when it is critical to safeguard the stability of its Mutual Mortgage Insurance fund, which had capital reserves of approximately $3.6 billion at the end of FY 2010. The new pay structure is estimated to contribute nearly $3 billion annually to the fund.”

Full DSNews Article
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