In recent months there has been so much media attention to the housing and mortgage industry and all of it negative. There is a bright side to all this in spite of the media reports. Mortgage lending had gotten out of hand and needed to be reined in. There were individuals in the profession ,who for a nice commission check, put people in homes they could not afford. Now those homeowners have been foreclosed on and the numbers are growing every day. The mortgage loan officer is on to another "profession".
Since we are talking about housing/real estate the old addage of location, location, location is true. Our wonderful area has not been affected as other areas of the country have. Most North Carolina cities are showing growth in home sales and in appreciation and certainly the Wilmington area is one of those "survivor" cities. I have been in the mortgage profession 28 years and I don't believe there has been a better time to purchase a new home. We have an inventory of homes that offers a good selection. Builders such as the builders in Marsh Oaks are offering great incentives. Interest rates are still at record low levels, recently as low as 5% for a 30 year fixed rate.
If you are thinking about a new home, now is the time. Don't wait until interest rates and home prices go up.
BRENDA MCDONALD, VP
Lumina Mortgage Company
219 Racine Dr., Suite A
Wilmington, NC 28403
910-202-8225 Direct
910-452-0997 Fax
http://www.blogger.com/www.luminamortgage.com
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