We decided to release some of our short videos from our CharlotteForeclosureChallenges.com website to our Bee Home Solutions audience. These videos are created from the top 20 questions that we receive from our customers and/or prospective customers and we’ve provided answers to them here.
The video below discusses the effects of having a foreclosure on your credit report. Please watch and leave us your comments below. Thanks!
take care,
Mike Moulton, Broker
Bee Home Solutions, Inc.
704-885-0488
Although its May, I’m reporting and interpreting the Greater Charlotte, NC real estate market data for March’s activity. This is because April’s activity is not available yet. For March 2010, overall there were 1,900 residential units sold (condo, townhome, house, etc.) vs. 25,526 on the market (7.5% sold in March vs. what was available). This is up 36% from the previous month in February 2010 with 1,397 units sold. The homebuyer tax credit most likely had a large impact on this but we’ll see when we get April’s data since April 30th was the last day to be under contract (this should uptick closings through June 30th which is the closing deadline for that program). Pending status (under contract) was right at 2,498 for March which is up over 500 units from February 2010. What is interesting to note is when the Pending status increases and stretches out from month to month, its a direct indicator of the longer processing times in the mortgage industry. In our business we are still seeing delays with short sale approvals and timing.
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