Every once-in-a-while I write an eclectic article for my readers with miscellaneous business and real estate news that has accumulated in a stack by my desk. Here is just such an update!
North Carolina and Lake Norman Area Business:
- North Carolina ranks fourth in CNBC’s recent survey: America’s Top States for Business: The Charlotte Business Journal ran an article on July 13th.
- The Palm City Florida based firm Policom recently ranked the Statesville-Mooresville area 15th among 576 Micropolitans nationwide in terms of economic strength according to a recent article in The Statesville Record and Landmark Newspaper.
- Today’s Mooresville Tribune says that the Iredell County jobless rate dropped to 11.6%
- Lennar,one of the nation’s leading home-builders, recently announced that they will be building town-homes in a brand new community in Cornelius adjacent to Harborside. It will be called Harborside At Lake Norman
Housing and Real Estate:
- According to the National Association of Realtors, 10 – 14% of all pending home sales don’t close. (Very interesting!)
- A Wall Street Journal article on July 26th reported that “Foreclosures Reduce Home Values by 27%“.
- “Foreclosure starts hit a record high for Fannie, Freddie loans” according to an article today in Inman News. It went on to say that in all loans, 30-day delinquencies were down 1.4% from May, 60-day delinquencies rose 2.4%, 90-day delinquencies were down 3.9% and loans in foreclosure were down .4%.
- The Federal Trade Commission has amended rules governing free credit report offers to prevent deceptive advertising. The only authorized source under federal law for a free credit report is: AnnualCreditReport.com or 877.322.8228.
- Note to home buyers and sellers: HUD has clarified it’s rule regarding fees to Real Estate Brokers for Home Warranty Plans. Real estate brokers and agents may NOT be compensated by Home Warranty Companies. I don’t take the fees and have always thought they were unethical and/or against the RESPA laws regarding kickbacks so now it is official!
- The number one source for home searches, REALTOR.COM is in the Beta testing mode of a vastly improved site: http://www.beta.Realtor.com which was launched on June 15, 2010. It looks to be a truly major different and exciting!
There you have it…my stack of news is now much thinner and I can go back to analyzing our Lake Norman housing market!