Home Construction Rebounds From Six-Month Low
Home building rebounded from a six-month low in November, with improvement in new home construction in all sections of the nation, according to a government report issued today.
http://money.cnn.com/2009/12/16/real_estate/
housing_starts_November/index.htm
Homebuyers Need Good Credit Score Even with 20 Percent Down Payment
Five years ago, if your application for a mortgage included a 20 percent downpayment, your bank would have approved your loan by sundown. But in this new era of tight credit, having a big downpayment no longer guarantees you’ll qualify for a mortgage.
http://www.usatoday.com/money/perfi/columnist/block/2009-12-15-ym15_ST_N.htm
Big Decision Looms on Fannie, Freddie
The U.S. Treasury faces a decision by year end on whether to increase its bailout of Fannie Mae and Freddie Mac beyond the $400 billion it has already committed. So far, the companies have taken $112 billion in capital infusions from the government, and most analysts believe they are unlikely to use up the full $400 billion. But other analysts say the Treasury and regulators should take precautions, in case losses run higher than expected.
http://online.wsj.com/article/SB126092704547993061.html
More Borrowers Drawn to 15-Year Mortgage
Lured by rock-bottom interest rates, a growing share of borrowers looking to refinance are opting for a 15-year mortgage instead of the traditional 30-year one. In October alone, 15-year fixed-rate loans accounted for nearly 20 percent of refinance applications, up almost 10 percent from a year earlier.
http://online.wsj.com/article/SB1000142405274
8704825504574583830566113064.html
Impact Fee Struck Down by NC Court of Appeals
Last week the North Carolina Court of Appeals invalidated Union County’s impact fee ordinance. The North Carolina Association of REALTORS® played a key role in this litigation as the Association’s Legal Action Fund helped pay for a “friend of the court” brief in the case and Director of Government Affairs Rick Zechini assisted in its preparation. After years of unsuccessfully seeking impact fee authority from the legislature, Union County adopted a so-called adequate public facilities ordinance (APFO), which would allow the County to analyze a proposed development and determine whether it would lead to a school being over “capacity”. If so, then the development would not be allowed unless an impact fee is paid to the county. The NC Court of Appeals found that Union County did not have the authority to adopt such an APFO. This is a great victory for the real estate community and calls into question other APFOs across the state.
15 Tools to Help Manage Your Social Networking Profiles More Efficiently
Managing multiple social media profiles can take up quite a bit of your time. In order to keep up with an ever-growing group of friends and business associates across all of your social networking sites, you might find it helpful to use some of the online social networking tools available. Follow the link below for a list of 15 of the most innovative and popular social networking tools available today.
http://blog.huddle.net/15-tools-to-help-manage-your-social-networking-profiles-more-efficiently
(For more information on these or related news, join our LinkedIn group today at http://www.linkedin.com/groupRegistration?gid=90965)
Homes4NC Donation Helps Families and More
In this tough economy, more families than ever are struggling to find safe and affordable housing. That’s why your support of Homes4NC is so important. Not only will your contribution help families in crisis situations, it also will help more potential homebuyers get into the market. Help your community and the business you’re in by making your tax-deductible contribution today at www.homes4nc.org.
Did you know that the NC Homeowners Alliance is building a database of homeowners from across the state? REALTORS® can help by including postcards in their closing packets that educate people about the Alliance and ask them to become part of the database. By signing up, homeowners will receive information effectively and efficiently about issues that impact homeownership and property rights in North Carolina. For more information and to get your postcards, contact Julie Woodson, NC REALTORS® Director of Public Affairs, at 1-800-443-9956 or by e-mail at jwoodson@ncrealtors.org
