December 2010 Lake Norman Foreclosure Real Estate Market Update

Lake Norman Foreclosure Homes
At the end of December 2010 there were 116 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 28% decrease from the 161 foreclosure, preforeclosure & short sale properties for sale in November 2010. Prices range from $27,209 for a double-wide to $2,445,000 for a waterfront home in Cornelius.

Twenty-eight foreclosure/short sale homes closed in December 2010. This was an increase of 33% from the 21 foreclosure homes sold in November2010. The average home was a 3 bedroom/3 bath with 2,920 square feet and an average sale price of $345,970 The average sales price decreased $40,648 or11% from the previous month. The average days on the market were 138, a 15 day increase from November 2010. Continue reading December 2010 Lake Norman Foreclosure Real Estate Market Update

Interest rates continue to climb!

NEW YORK (TheStreet) — Mortgage rates continued to sail higher for the fifth consecutive week, according to Freddie Mac, with the most popular mortgages inching further toward 5%.

Traditional 30-year fixed mortgages cost 4.83% on average, for the week ended on Thursday, with a discount of 0.7 point. Though still below year-ago levels, those rates jumped significantly from the previous week’s 4.61% rate and the 4.17% low hit in early November; 30-year fixed rates haven’t been this high in seven months.

Mortgage Rates by RateZip.com

Continue reading Interest rates continue to climb!