The first month of the new year begins with positive real estate news. Mortgage interest rates remain steady to slightly lower, and there’s good news from the FHA regarding mortgage insurance. Also, the selling prices of existing single-family homes continue to edge upward, especially when it comes to one-bedroom homes.
Year to Year Trends in Charlotte’s Real Estate Market
A final look at the 2014 residential real estate market in the Charlotte area yields a number of encouraging signs. For example, the Charlotte Regional Realtors Association reported that 36,191 homes were sold in the region during the year, and this represented a solid 4.8 percent increase over 2013.
Two New Homebuyer Rules Will Benefit Charlotte’s Real Estate Market
There’s good news for prospective Charlotte-area home buyers with good credit. The FHA has lowered minimum down payment requirements and mortgage insurance premiums on affordable homes. Fortunately, Charlotte’s suburbs include many residences that meet the affordable home requirement.
The Joys of Home Ownership in the Charlotte Area
For most people, the decision to purchase a house is the largest financial decision they will ever make. Â Many consider home ownership as part of the American dream, while others look at it as a money pit. When considering home ownership, there are various pros and cons to evaluate before making a purchase.