04 Feb Mortgage and Real Estate News Summary for February
Top real estate experts have named Charlotte as a city to watch in the real estate industry. Meanwhile, home loan lenders in the Wilmington area have an optimistic outlook in spite of the issues they experienced in 2018. Here is more on the mortgage news stories we are watching:
The ‘Queen City’ is Trending in the Real Estate Industry
Charlotte made the list of growing real estate hot spots that are among the 2019 industry trends to follow. These promising cities and regions were determined by the 15-member Forbes Real Estate Council to help bring notice to some of the top places to watch. Experts believe 2019 will be another strong year for the “Queen City” in the residential real estate market. Charlotte continues to be perceived as affordable and a place where people enjoy a high quality of life, both of which are appealing to a skilled workforce. In addition, employment opportunities abound in Charlotte, with the economy being able to handle more growth in renters. All these factors are helping Charlotte remain a top relocation hub for national and international companies.
The Mortgage Industry is Moving Forward
Mortgage lending experts in the Cape Fear region are feeling positive about what 2019 has to bring for the homebuying industry after some setbacks last year that included Hurricane Florence and a partial government shutdown. The biggest obstacle at present is lack of available homes for sale, which results in most starter homes being on the market only a short time. Now that the federal government is back open, at least for the short-term, all mortgage loan programs are operating per usual. Fortunately, in this region, the government shutdown really only had an impact on USDA loans. Most mortgage professionals predict that activity will pick up in the springtime, as the winter is not typically the boom time. Another reason for optimism is the fact that FHA and conforming loan limits have risen, letting more potential buyers enter the market this year.
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Callison, Jenny. “Lenders Busy Despite Hurdles.” Web blog post. WilmingtonBiz. 1 February 2019. Web 1 February 2019.
Forbes Real Estate Council. “2019 Predictions: 15 Prime Real Estate Locations Investors Need To Check Out.” Web blog post. Forbes. 31 January 2019. Web 31 January 2019.