Quote for today -   The answer is simple: if you want something very badly, you can achieve it.  It may take patience, very hard work, a real struggle, and a long time, but it can and will be done. - Margo Jones

Real Estate Questions:

Would you qualify for a FHA Loan - Here are a few of the guidelines to see if you qualify.

Are you looking for or thinking about purchasing Foreclosures? 

Here is the information you need to know as well as access to all of the areas foreclosures!

To start with here are the links that will show you the full MLS sheet on every property in Foreclosure in the following counties that is actively listed in the MLS system:

Links Updated 8/18/2009

Click here to view foreclosures in Wake County - 132 Available!

Click here to view foreclosures in Franklin County - 26 Available!

Click here to view foreclosures in Granville County - 9 Available!

Click here to view foreclosures in Johnston County - 69 Available!

Click here to view foreclosures in Durham County - 77 Available!

On each of the above links it will take you to a page that looks like the screen shot below.  You will be able to move through each of the listings by clicking on the right arrow as indicated in the screen shot below.  The screen shot below also tells you how to look at the pictures and a virtual tour if available.

You can also request any of these searches be set up for you and have them automatically email you new listings everyday by sending us an email at alice@aliceray.com and letting us know what type of search you would like.

If you are interested in purchasing any of the homes please let us know and we would be glad to assist you as your buyer's agent.  You can call us at 919-556-6459 or email us at alice@aliceray.com.

*These listings are in the Triangle MLS System and are not listed directly by our team.  As Realtors we are able to show you any home on the market and provide information to you.  We will be able to assist you as your buyer's agent in the purchase of any of the homes.

HUD: Tax Credit Can Be Used on Closing Costs

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can't be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.


The first-time homebuyer tax credit was enacted last year--and improved upon earlier this year--to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven't owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

If you are in the market for your first home in the Wake Forest, North Raleigh, or Franklin County Areas, or know someone who is please email or call us today to let our team help guide you in the purchase. As your Realtor we can help you make sure you make the right choices and take advantage of this Great Time to Buy!  Email us at alice@aliceray.com or call us at 919-556-6459!

First Time Homebuyers

 What you need to know!

First off you have made a good first step by visiting our website.  In this blog we are going to try to give you all the information you want without requiring anything of you. No special meeting to attend, no phone  number, and no email address.  In the end we hope you have gained some knowledge and are ready to make that exciting step into homeownership! 

Here is a list of things we are going to cover:

                     1. First Time Buyer Tax Credit

                     2. Getting Pre-Approved for a Mortgage

                     3. Choosing a Realtor to Represent You!

                     4. Searching for Homes

                     5. Making the offer!

                     6. Savings of Owning versus Renting

                     7. Give the Alice Ray Team a Call or Email! 

You can reach us at alice@aliceray.com or contact Alice directly at 919-906-5794!

Ready?  Let's get started! Click on any of the above topics to the specific blog on that section!

Homebuyer Tax Credit of $8,000!

The $787 billion stimulus bill that President Barack Obama signed into law Tuesday includes an $8,000 tax credit to first time homebuyers.  The good news about this credit is that it does not have to be repaid like the previous $7,500 tax credit required.   Here are a few points to remember about the tax credit:

I do not know of a time that has been better than now for a first time homebuyer to purchase their first home.  Even without this $8,000 tax credit the timing would still be perfect with the low interest rates available and low home prices.  Now with the $8000 tax credit it almost does not make sense not to purchase a home!

If you would like more information about the tax credit, mortgage options, and what homes are on the market please give us a call at 919-556-6459 or email us at alice@aliceray.com.  The Alice Ray Team has helped first time homebuyer’s for over 30 years purchase their new home and have the knowledge you need to make sure you make the best choice for you and/or your family.  Start your home search today in the Raleigh, Wake Forest, and surrounding areas by clicking here.

Are you a current homeowner in the Raleigh, Wake Forest, and surrounding areas who is wanting to take advantage of the low interest rates and low home prices?  Call us to provide you with a free Comparative Market Analysis on your home.  Now may be the perfect time to put your home on the market for a potential first time homebuyer to purchase and then you can move up and buy that bigger home!  Email Alice today at alice@aliceray.com or give us a call at 919-556-6459.