Archive for July, 2008
521 Ives Court, Providence Glen, Chapel Hill, NC
July 28th, 2008 categories: Neighborhoods, Real Estate Market
Just on the market! A great condo in the desirable Providence Glen community. This is a second floor unit, model Alexander IV, with great views of the woods from the dining room and master bedroom. There are two bedrooms and two full baths. Being a condo, there is no outside maintenance to worry about so your time is free for other things. There is a community swimming pool as well as a tennis court and playground. Located just southwest of the I-40/15-501 intersection, this community is close to everything, whether UNC, Chapel Hill, or RTP.
There is an elevator for your use and each building has a locked entry. This unit comes with a outdoor storage shed. Come and check out this wonderful condo. For more information give me a call at 919-417-9753.
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Do People Read What They Sign? - The Mortgage Bailout
July 10th, 2008 categories: Real Estate Market, Real Estate News
There is a lot of talk on Washington and some states about enacting legislation to help home-owners that can no longer make their mortgage payments. This is typical feel good nonsense from the politicians. Yes, the real estate market is in a mess, people are struggling, homes values are dropping. But, I have one question. Did these home buyers read what they signed at closing? At every closing I’ve had, the terms and conditions are very clearly spelled out for the buyers. As well as what happens when things take a turn for the worse. It is all there in black and white. There is no gray area.
Now these people are screaming for the politicians to do something. And politicians, being what they are, are more than willing to help out. I have a suggestion. Tell these home buyers to deal with it. They made the choice to get that mortgage and buy that home. Millions of home buyers were very happy riding the real estate bubble. Now that the bubble has burst they are not so happy. Let the market do what it does best. It will correct the problem on its own. It won’t be pretty, but it works. The only thing politicians can do is mess it up.
These people signed a legitimate contract. It is their problem, not anyone elses’. It is called tough love. People need to start reading what they sign and deal with the consequences if they can’t live up to the terms of the contract. They should NOT be bailed out by the rest of the taxpayers. We have problems enough of our own.
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