Why Can’t I Get a Mortgage?

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This question is central to both anxious home buyers and investors who are on the fence waiting for an economic recovery.   Even with historically low rates and with the first-time buyer tax credit  which the government hoped would inspire buyers to take the plunge — the number of new home purchase loans is expected to fall 4.6% this year, according …

Be aware of closing costs when buying property in North Carolina

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Closing costs are simply the fees associated with           1) purchasing a home, 2) borrowing money, and 3) preparing paperwork to finalize the sale. Your total closing costs will vary depending on where your new home is located, what type of property you are buying, the price of your home and the complexity of the transaction. It is extremely important that …

Tread Carefully When Making a Low-Ball Offer for Homes in the Mountains of western North Carolina

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These days it’s easier to make a low-ball offer than it used to be, but with short sale properties, foreclosures and overall prices at historic lows it’s important to be offer smart.  Here are some things that a potential buyer should consider when making such an offer: 1. Use foreclosures as comps carefully. Look realistically at the prices of foreclosures if …

Great News for Highlands and Cashiers Homebuyers

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Bank of America has cut interest rates on jumbo mortgage loans in the hopes of expanding its share of what the bank sees as an underserved market for loans too big for purchase or guarantee by Fannie Mae and Freddie Mac. Not everybody will qualify for the 30-year, fixed-rate loans of up to $3 million that Bank of America has …