In 2009, there were 105 banks in North Carolina that had assets of $2.23 trillion. Today there are maybe 99 banks in the state with assets totaling $1.69 million as of the end of March 2011. Many local experts feel that the trouble the banks are seeing are a result of slower lending along with deposits leaving North Carolina banks to be deposited in larger banks outside of the state.
Similar to the banking industry, the housing industry is still suffering in North Carolina. The number of permits to build new single-family homes throughout the state declined by 27.6 percent over the last year ending in March of 2011. However, permits to build multifamily homes rose by 105 percent during the same period of time. The increased number of multifamily home permits is a positive thing for the housing market in Raleigh.
If you are looking to purchase a home in the Triangle area consider the small community of Glen Laurel located just a short 20 minute drive from downtown in Clayton, NC. Nestled along the Neuse River this community has something to offer anyone. From the award winning golf course to the fully staffed Racquet and Swim Club your family is sure to call this place home.
If you are interested in learning more about short sales or foreclosures in Glen Laurel, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are a lot of questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.
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