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Chapel Hill and Durham Real Estate Blog

Chapel Hill - Durham Real Estate Blog

Jodi Bakst

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Displaying blog entries 231-240 of 400

Fed Announcement and the Impact on Interest Rates

by Jodi Bakst

The Federal Reserve (Fed) announced last week that it is ending the purchase of mortgage backed securities.  This was a huge statement.  This Fed program has held mortgage rates artificially low.  In other words, the suspension of this program could very likely put upward pressure on interest rates.  In fact, most lenders I talk to think rates in 2010 are going to go back to the 6% range.

With that being said, the time to buy is now.  Interest rates are fantastic.  I just had a client quoted 4.75% for a 30-year fixed loan and 2 other clients are being quoted 5%.  These are tremendous rates.

In addition to rates still being at historic lows, there is excellent inventory to choose from and there are many motivated sellers. 

Here is my latest video.  This is a testimonial from a client that just purchased a home with Team Jodi.  Please listen to what Rob Mazzoni has to say. . .


New Chapel Hill Home for Sale in North Haven

by Jodi Bakst
This is a lovely home in Chapel Hill's North Haven Neighborhood.  The home is over 2,600 sq. ft. with three bedrooms, an office and 2.5 bathrooms.  It is light and bright throughout.  The hardwood floors have just been refinished, there is new carpet and all new interior paint.  This house is located on a cul-de-sac lot and has a large, fenced back yard.  This house is an excellent buy at $395,000.
 Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Interest Rates Are Better Than Ever

by Jodi Bakst

Frank Rexford with Integrated Mortgage Strategies just sent me the most recent interest rates.  Take a look, they really don't get much better than this.

Conforming Loan Scenarios:  Based on 720 FICO score, 20% downpayment, 39% Debt Ratio, $280,000 purchase price, $224,000 loan amount

 

 

Conforming - 30 Year Fixed
 

 

4.875%

 

 

4.997%

 

 

Conforming - 20 Year Fixed

 

 

4.875%

 

 

5.042%

 

 

Conforming - 15 Year Fixed
 

 

4.250%

 

 

4.458%

Conforming - 7 Year ARM

 

 

4.250%

 

 

3.913%

 
Conforming - 5 Year ARM
 

 

3.750%

 

 

3.698%

 

 

Conforming - 3 Year ARM
 

 

3.625%

 

 

3.651%

 

 

Jumbo Loan Scenarios:  Based on 720 FICO score, 20% downpmt for Fixed, 25% downpmt for ARMS,
 

 

45% Debt Ratio, $1,000,000 purchase price, loan amount: $800,000 Fixed, $750,000 ARMS

Jumbo - 30 Year Fixed

 

 

5.875%

 

 

5.933%

 

 

Jumbo - 7 Year ARM
 

 

4.500%

 

 

4.255%

 

 

Jumbo - 5 Year ARM
 

 

4.125%

 

 

4.103%

 

 

 

If you are interested in talking to Frank, here is his contact information:

Frank Rexford, CMPS®    

Certified Mortgage Planning Specialist      

www.frankrexford.com    

direct  919-929-1980       cell    919-360-7864
Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Message to Buyers & Sellers

by Jodi Bakst

I have started a video series and have focused this first video on a message to both buyers and sellers.  Despite the challenging market, it is absolutely possible to get your home sold; all you need to do is make sure the conditions are right.  Team Jodi can help you do this. 

Buyer's -- and particularly first time home buyer's -- make your move while the market conditions are so good.

Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Chapel Hill Homes for Sale - Immaculate & Backing to Green Space

by Jodi Bakst
This home is located in Chapel Hill's Northwood V Neighborhood on the north side of town.  This neighborhood is minutes to I-40, 10 minutes to UNC, 15-minutes to Duke and 15-20 minutes to Research Triangle Park and RDU International Airport.
This home is priced at $464,000
 
Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

For a current list of foreclosures in Chapel Hill, Orange County, Durham, N. Chatham County and Wake County (Raleigh, Cary & Apex)

 

Click here to learn about Team Jodi

Click here to view Team Jodi's listings and Durham homes for saleChapel Hill Real Estate

Click here to search homes for sale in Chapel Hill, homes for sale in Durham and the surrounding area.

The 2009 SAT results are out.  In North Carolina, the Chapel Hill-Carrboro School District's SAT Scores remain the strongest in the State and exceed the national average.  The Chapel Hill-Carrboro School Districts combined 2009 score is 1179 compared with 1006 for North Carolina and 1016 nationally.

All three Chapel Hill-Carrboro High Schools run neck and neck with each other.  Carrboro High's, the newest high school, combined score was 1177, Chapel Hill High's combined score was 1159 and East Chapel Hill High's combined score was 1195.

The most interesting phenomenon is that the percentage of high schoolers taking the SAT went down fairly significantly almost across the board.  In Chapel Hill, in 2007 96.2% of the students took the test, in 2008 this was reduced slightly to 93.1 and in 2009 80.2% of the students took the SAT exam.  Although this number is significantly lower than in the past, it remains higher than all other local school districts, North Carolina as a whole and it far exceeds the national percentage tested at 46%. 

It remains to be seen why this happened.  I look forward to reading the analyses as the results are further evaluated.

2007, 2008 & 2009 SAT Scores for Chapel Hill-Carrboro Schools; Orange County, NC Schools; Durham Schools; Chatham County Schools and Wake County Schools

For all potential home owners, I wanted to let you know about a little known FHA program that allows you to purchase a home and get renovation funds at the same time.  It is called the FHA 203 (k) loan program.

 

Under this program, an owner-occupant can borrow money for the purchase and renovation while putting as little down as 3.5%.

The program requires that the buyer use licensed contractors.  Interestingly, the renovations can be for structural AND cosmetic improvements to the property. 

From what I understand the application process is not easy.  But, I am hearing that it is worth the time and effort.  In 2008, FHA issued about 6,700 of the 203(k) loans.  This year, more than 11,000 loans have already been insured.  Pretty Amazing!

What is even more amazing would be combining this with the $8,000 First Time Home Buyer Tax Credit and/or the Federal Energy Efficiency Tax Credit (up to $1,500).  That would be quite a package.

Click here to learn about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate listings and Durham homes for sale

Click here to search homes for sale in Chapel Hill, homes for sale in Durham and the surrounding area.

Chapel Hill - Carrboro Schools AYP Results

by Jodi Bakst

I am pleased to report that all of the Chapel Hill-Carrboro elementary and middle schools passed the 2009 Adequate Yearly Progress (AYP) goals.  This is excellent news.  Of the three high schools; only East Chapel Hill High met its AYP goals.  Both Chapel Hill High and Carrboro High did not meet the AYP standards.  It is my understanding that this was due to insufficient progress with each school’s economically disadvantaged populations.  It is my hope that both these high schools can focus its resources to help these students and improve overall.  Being the mother of a student at Chapel Hill High, I know it is a school of excellence and a school that I am proud to have my son attend.  I am more than confident that over the coming years these numbers will improve for both Chapel Hill High and Carrboro High.

Chapel Hill Real Estate: Well Maintained Home on .5 Acre Lot

by Jodi Bakst

Beautifully maintained home in Chapel Hill located in the Green Hills neighborhood which is contiguous with Lake Forest.


Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Displaying blog entries 231-240 of 400

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