Nearly two weeks ago, President Obama announced a reduction in premiums for new Federal Housing Administration (FHA)-backed loans. The good folks at Prosperity Home Mortgage stripped the news reports to put together an article that explains what that means for the everyday American, especially first-time home buyers. 

Housing just became more affordable!

FMRealty 1603 Carriage Drive FranklintonMortgage lending and credit standards have tightened in recent years. This has helped promote responsible lending practices and new consumer protections, however it has also made refinancing or buying a home more difficult for many homeowners and would-be home buyers.

For this reason, President Obama announced on January 7, 2015, a reduction in annual FHA mortgage insurance premiums (MIP) for new mortgage loans in an effort to help make housing more affordable for more home buyers and homeowners. Purchases AND refinance transactions will benefit from the premium reduction, which becomes effective Monday, January 26, 2015. FHA will lower annual MIP by 0.5% from 1.35% to 0.85%. According to the White House, this reduction should result in a savings of $900 per year for the typical home buyer! Existing homeowners who choose to refinance may see similar savings, as well….

To learn the specifics of this reduction and read the rest of the article, please visit the PHM blog.

The folks at RIS Media also provide prospective home buyers some tips for home buying under Obama’s new FHA policy as well.

When you’re ready to refinance or purchase that new home, please contact one of our FM Lending Mortgage Consultants. They’re here to help you get qualified!

Image of 1603 Carriage Drive, Franklinton courtesy of Image current at time of publishing.


The month of December….well, typically, the holiday season itself…is usually one of the slowest in the year for real estate in general. Families are busy with holiday parties and soirees, buying (and wrapping) gifts, sending out those annual Christmas cards, baking, you name it. BUT, that didn’t stop Triangle families from putting their homes on the market AND selling them last month.

FMRealty Market Minute Report December 2014Our latest Market Minute Report was released this morning and as a whole, the number of Units Sold is UP 8% in the Triangle. This is GREAT news for December Home Sellers and should give a BOOST to Sellers for the remainder of the winter season.

That said, the number of homes for sale (Active Inventory on our Market Minute Report) is still significantly lower than it should be, especially considering the population and economic growth in our market. Active Inventory is down 29% and yet, the buyers are there as evidenced by the number of Units Sold. According to an article published today in the News and Observer -

That inventory levels have remained so low for so long is a sign that many homeowners who bought during the boom have yet to see prices recover enough to where they can sell. The levels also reflect the current rate of new home construction, which has picked up in the Triangle but remains below previous levels.

And that may be true, but if you’re a homeowner who did purchase your home during the boom a few years back AND you’ve been on the fence about selling it now, why not contact one of our Sales Associates to find out how much your home is actually worth and in turn, help you price it right!

(On an aside – KUDOS to our Kelly Cobb for lending her expertise in the above article too!)

As both the News and Observer article and the one produced by the Triangle Business Journal today state, all signs point to 2015 as a better year for home sales (nationally and in the Triangle) as mortgage rates remain low and price growth continues on an upswing, though Economists and industry insiders also say not to expect “boom” levels either.

The KEY (no pun intended) – Buyers are there now and as long as you price your property right (and prepare it for sale), you can anticipate its going to sell.

Please visit our Market Minute – Total Triangle to learn more. If you need specific information for your area, click on any of the Market Minute reports available to you!



The Triangle Begins 2015 With More Accolades!

January 8, 2015

by Lisa Sullivan, Digital Media Marketing Director When a year ends and a new one begins inevitably you can expect to see all kinds of “best of” lists pop onto your computer screen. As 2014 concluded and as 2015 began, we caught seven lists of the sort all pointing toward our part of North Carolina, […]

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Last Minute Holiday Shopping in Chapel Hill!

December 23, 2014

The following contribution is by our Lauren Richardson of Fonville Morisey Chapel Hill. For you last minute shoppers, this ought to give you some GREAT ideas for your gift list. Thanks for sharing, Lauren! Thanksgiving has passed, the family has left town and the serving dishes are happily tucked away where they belong. Then, just […]

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FM Lending: 3% Down for First-Time Home Buyers? Yes, Please!

December 18, 2014

The following contribution comes from our Dan Flynn, Senior Mortgage Consultant with FM Lending based out of our Fonville Morisey Brier Creek office in Raleigh. If you are a first-time home buyer, you REALLY need to see what this program offers. Take a look…and thanks, Dan, for sharing! FM Lending is pleased and excited to […]

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Triangle Housing Market Watch: Median Sale Price UP 5%

December 15, 2014

Fonville Morisey Market Minute Reports for November for the entire Triangle as well as local communities were released today and the results aren’t that surprising. Home sales typically drop off as the end of the year approaches. So, therefore, the decrease by 5% year over year in Units Sold is also not that surprising either. […]

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REALTOR Tip: Holiday Decorating for the Exterior of Your Home

December 10, 2014

It may be mid-December (and only 15 days until Christmas, but who’s counting?!), but we venture to guess in the busiest season of the year there are plenty of you that have not decorated your homes in all their holiday fare just yet. Go ahead. Let’s see you raise your hands! The folks at HGTV […]

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REALTOR Tip: New Year’s Resolutions Every Homeowner Should Make

December 4, 2014

The following contribution is by our Eddie Brown, VP / Sales Manager of our Fonville Morisey Brier Creek office. While it may only be the beginning of December, why not think about these things now because you know 2015 will be here before you know it, right? Thanks, Eddie! New Year’s Resolutions Every Homeowner Should […]

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The 2014 Food Bank of Central & Eastern NC Holiday Meals Drive is in Full Swing – Can You Help?

December 2, 2014

by Lisa Sullivan, Digital Media Marketing Director Picture this… “I deliver food to agencies, each time I deliver there are always people standing around waiting for food. It starts out with 5 or 6 and then grows to as many as 50 or 60 people waiting on a delivery.” ~ Food Bank CENC Driver Unfortunately, […]

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Our Triangle Communities: Treyburn – A Jewel of a Durham Neighborhood

November 25, 2014

The following contribution is by Dina Griggs, Sales Associate with Fonville Morisey Croasdaile in Durham. Dina knows Durham…and she knows her golf! Here she describes living in the Treyburn Country Club community. Thanks, Dina! TREYBURN, A Jewel of a Durham Neighborhood As you drive past swaths of fields, small shopping centers, past old tobacco sheds […]

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