The Week in Review
…your Wilmington Connection
April 26th, 2008
Relay for life this week in Wilmington and what a beautiful day for it, the sun was shining and and it was 84 degrees. Not bad for spring time.
Today was the first day of the 21st annual parade of homes in Wilmington,North Carolina area is one of the largest in the southeast, and this years event promises to be better than ever.
It will be running this weekend and the following weekend on Saturday and Sunday, May 5th and 6th. This year’s Parade of Homes covers a larger area – the four-county area of New Hanover, Brunswick, Pender and Onslow, and there is something for everyone and in every price range from $130,000 to 4 million
Here is what has been happening in the real estate market this week in Wilmington
Joseph A. LaVorgna, chief economist at Standard & Poor’s said in a note to investors
Tuesday that falling home prices aren’t such a bad thing, “On one hand they are causing negative wealth effects and forcing some new mortgages underwater; but on the other hand, this is a necessary, albeit unpleasant, prescription for restimulating housing demand,” he said.Sales were expected to drop 1.6% to a seasonally adjusted annual rate of 4.95 million units, down from 5.03 million in February, according to the consensus forecast of Wall Street economists surveyed by Thomson Financial.Lawrence Yun, the chief economist of the National Association of Realtors, said that a tightening of lending practices was stymieing some home shoppers, counterbalancing relatively low mortgage rates.
Mortgages going green
Going green is becoming easier as the options to do so increase. Sun Trust Mortgage offers a green, or energy efficient, mortgage through the Fannie Mae, FHA and VA programs, allowing individuals to upgrade their home’s energy efficiency and finance the cost.
“If you express an interest in an energy efficient mortgage, part of my pledge is that I triple check all information before printing, and I’ll email the customer versus faxing back and forth in order to conserve paper,” said Sun Trust mortgage planner Steve Rassin. “Additionally, we recycle all our paper, thereby saving energy and [environmental resources].”
Sun Trust’s energy efficient mortgages are available for new construction or existing propertie
…until next week in the Week in Review
Tina
