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ONLY THE SUN COVERS CHARLOTTE BETTER! Michele Latham, Broker,ABR,GRI,CRS

FHA's new rule may hurt the purse of some buyers!

FHA's new rule may hurt the purse of some buyers! Starting April 5, 2010, FHA is raising it's MIP from 1.75 to 2.25%, boosting the minimum down payment for borrowers with a credit score lower than 580 up to 10%! PLUS- it's reducing what the sellers can pay towards closing costs by half (down from 6 to 3%)...

For more information, contact me at 704-201-4602

"Only the Sun Covers Charlotte Better!"

JANUARY HAS BEEN GOOD..;)

Lots of listings coming onto the market in pursuit of an April Contract....It's a great time to be on the market, competitively priced , and ready to sell!

If you have questions about the Tax Credit that has been extended thru April, call 704-201-4602!

A great Information for University City Charlotte NC!

Check out this site for more interesting and fun facts surrounding the "what's what" in UC!

http://universitycitypartners.org/

A great resource for Electrolux, Husqvarna and other newcomers to Charlotte NC!

As always, I am here to answer any questions, comments or concerns you may have-704-201-4602!


Warm regards!

Michele Latham

Broker/ Realtor, NC/ SC, ABR, GRI, CRS

"Only The Sun Covers Charlotte Better!"

704-201-4602

Housing Market Demand Increases


Supply and demand drives our economy and determines prices for goods and services. This is especially true in the housing market.

Often, you will hear the housing market categorized as a buyers' market (more houses for sale than demand) or a sellers' market (more buyers than houses for sale). This categorization or type of housing market is determined by looking at the months' supply. Months supply is the ratio of inventory available for sale at the seasonal sales pace in a given month. This figure is calculated by dividing the number of homes for sale by the number of homes sold that month.

According to the National Association of Realtors ® (NAR), the September national months' supply was 7.8 months, down from 9.3 months in August. This means that, at the current rate of sales and available inventory, it would take about 7 months to sell all the homes currently available for sale.

Lawrence Yun, chief economist for the NAR stated, "The current housing supply is the lowest we've seen in two and a half years. If we could continue to absorb inventory at this pace, home prices would return to normal and we'll see modest appreciation patterns next year."

While the national months supply is an average, housing market conditions can vary by region, area, neighborhood and price. For instance, homes under $250,000 are in greater demand because of first-time homebuyers in the marketplace, and therefore have a shorter months' supply. On the opposite end of the scale, the market for homes priced at $1 million and above is virtually frozen at 21 months' supply.

For a true housing market study of your area, ask your Allen Tate Realtor, Michele, for a competitive market analysis (704) 201-4602.

5.3 Acres in Golden Crescent for under $70K!!

Yes- you read that correctly.. I have 5.31 acres that percs for a 4 bd home in the Golden Crescent in Cabarrus County for under $70,000. THAT'S UNDER $13,000/ ACRE!!!!

CALL TODAY- WON'T LAST LONG!

ONLY THE SUN COVERS CHARLOTTE BETTER!

MICHELE LATHAM, BROKER, ABR, GRI, CRS

704-201-4602