Author Archives: Carol Morgan

Special Deals for the Ready to Buy in HUD Homes

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HUD Homes can be great for ready homebuyers or those eager for investing

HUD Homes can be great for ready homebuyers or those eager for investing

Those looking for the inside scoop on some lesser known real estate deals should consider HUD homes, where those that are ready to buy can scoop up great deals. HUD homes are often popular for those interested in

investing, but they can also be a great path for cash-strapped but savvy homebuyers. The Equifax Finance Blog explores how these homes are different in a recent article, “

How To Buy A HUD Home.”

A HUD home is a special kind of

foreclosure which has been repossessed from Federal Housing Agency loans. In an effort to get these homes back with people living in them, HUD homes are often competitively priced with special incentives for owner-occupiers. These special incentives include a special 30 day window of opportunity for owner occupiers to put in offers.

The offer period and many other facets of HUD homes are different from traditional homes, so it is more important than ever to have an experienced HUD real estate agent when looking for a deal with these homes. The agent can help your tell good from bad in these homes, help you strategize through the online offer process, give you sound advice throughout the entire process and more.

For information about HUD homes as well as

real estate predictions and news, explore the frequently updated Equifax Finance Blog.

North Carolina Cities Make the 10 Fastest Growing U.S. Cities List

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Charlottecity

According to the U.S. Census Bureau, Charlotte’s population has grown 64.6 percent between 2000 and 2010 making it one of the 10 fastest growing cities in America. Despite the recession and housing market, Charlotte has record population gains despite the national average of 10 percent population growth.

Initially recognized as a transportation center, Charlotte is now the “second largest financial center in the nation, after New York,” said Bob Morgan, president of the Charlotte Chamber of Commerce.

Jobs at big banks like Bank of America, Citi, Ally Financial, JPMorgan and Wells Fargo have helped the city grow tremendously.

Because of this population growth, there was an increase in demand of Charlotte new homes.

Another North Carolina city that has overcome the odds despite economic instability is Raleigh with a 63.4 percent growth between 2000 and 2010. Because of the high percent of population growth, there has been an increase in building Raleigh new homes.

Named after Sir Walter Raleigh who popularized tobacco use, the city of Raleigh once depended on the tobacco crop for economic success, but now Raleigh is known for its intellectual hub of many technology firms. These firms include Red Hat, an open source software company and Etix, a web-based ticketing company for sports, entertainment and travel.

For a complete list of the 10 fastest growing U.S. cities visit CNNMoney. For more information on Carolina real estate, visit the website.

Carolina Real Estate Agents Can Attend Specialized Training Course for Distressed Homeowners

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ToolsThe Charfen Institute is offering a Certified Distressed Property Designation course to provide agents the perfect tools, processes and education to help distressed homeowners avoid foreclosure. Due to a high demand for property education courses, North and South Carolina local area REALTOR® Associations will offer industry-leading Real Estate Short Sale courses.

The North Carolina Association of REALTORS® and Greensboro Regional REALTORS® Association will meet June 14 and 15 in Greensboro, N.C.. If you are in the Cary, area, the Raleigh Regional Association of REALTORS® will meet August and August 2. In addition, the Coastal Carolina Association of REALTORS® will meet in Myrte Beach, S.C. on August 7 and August 8.

This is an excellent opportunity for local real estate professionals to learn how to help homeowners facing financial hardships, while also earning their Certified Distressed Property Expert® (CDPE) Designation. Agents with this certification better understand homeowners’ circumstances and can better navigate foreclosure alternatives.

Since 2008, unemployment, underemployment figures and mortgage delinquency have been at a record high. Recent estimates show that more than one in five homeowners nationwide owe more on their home than it is currently worth.

To find out more about these events in the Carolinas and nationwide visit http://www.cdpe.com/schedule.

Struggling homeowners can get free assistance from a CDPE-designed rate estate agent in their area by visiting http://www.cdpe.com/find/cdpe. For more information on Carolina real estate, visit our website.

Greenville Ranked Ninth Fastest Growing City

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According to a CNNMoney report, Greenville was the ninth fastest growing city in the U.S. with a 32.5 percent growth between 2000 and 2010.

According to the report, Greenville has become an “international powerhouse” for companies globally. Greenville, once known for textile manufacturing, is now grouped with Spartanburg, Anderson and other towns as “The Upstate,” the northwestern region of South Carolina.

Because of the increasing job opportunities, real estate builders are expected to meet the growing population.

With over 250 international firms, including BMW (Germany), Michelin (France), GlaxoSmithKline (United Kingdom) and Kyocera (Japan), Greenville is becoming the manufacturing hub where people come from all over the world to buy, sell and study the manufacturing industry.

“That’s the highest international investment per capita in the nation,” said Nancy Whitworth, Greenville’s Director of Economic Development.

Eight out of the 10 fastest growing cities are in Southern states. Greenville, Spartanburg and Anderson’s total population is approximately one million.

Looking for new homes in Greenville? Visit our website for all the latest South Carolina real estate news.

Make Way for Multi-Family Homes

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City buildingsAccording to the U.S. Census Bureau, who recently released data concerning construction permits issued by localities in 2011, Raleigh, N.C. was the third top city with the most construction activity with 13.66 construction permits per 1000 housing units.

Why is multi-family building becoming more and more popular? According to the Trulia Rent Monitor, rents rose 5.6 percent nationally in 2011. Construction of multifamily buildings has increased because people could not necessarily afford to purchase or own a home during the recession. Therefore, more and more families are transforming their homes to become more multigenerational friendly.

While Texas and the Carolinas hold the position for the highest rate of construction in metro areas, New England, the Great Lakes, South Florida and Coastal California hold the lowest rate.

There are many factors that explain the sporadic growth in housing developments. One factor is whether there is long term employment growth in the area. Another factor is that many of the metros have had above-average job growth within the past ten years, and that there weren’t any huge home price declines during the crash.

For the U.S., one-third of construction permits in 2011 were for multi-family units, making builder trends change to meet the demand of multifamily construction.

Why does the builder market look more and more like a seesaw, up and down? First, construction activity is bet on future growth. It is a risky guess for builders to decide where to develop in areas where they are expecting a demand for housing. Also, housing units last for a long time, so they inevitably shape the metro areas they are in.

If you’re looking to buy or rent in the Raleigh area, make sure you visit our site for all of the latest North Carolina real estate news.