Bellemont at Cary Park

Bellemont is located in Cary’s new community Cary Park. This luxurious community built by Piccola Builders, features single family custom built homes with first floor master bedroom starting from $300’s. HOA dues are $173.65 semi-annually. Amenities include 28 acre lake, talking trail, club house with 2 pools & slide, sidewalks, kids R kids quality learning center, and shopping center. Close to RTP and top school district (www.wcpss.net).

Call to view the available homes.

$393,500 (site no. 3)

5 bedrooms, 4.5 bath, 2999 heated sq. ft, 189 unfinished sq. ft, 2 car garage.

www.deepbrar.com

Avalon Springs

Avalon Springs is a new community by Homes of Dickerson.  These are custom built homes in Fuquay Varina by McCale Development, with houses starting from $260’s.  The community offers amenities including swimming pool, clubhouse, side walks, and walking trails.  Swimming pool and the club house will be available the summer of 2008.

Monthly HOA dues are $50

Currently, many home-sites are available.  Contact Deep Brar to schedule your appointment

www.deepbrar.com

What are Points?

Points are up-front fees paid to obtain a better interest rate on a loan. One point equals one percent of the loan amount. A lower interest rate may result in a lower monthly payment, but it is important to consider how long you intend to be in the loan, and to compare current rates to historical market trends.

If you take out a $200,000 mortgage and decide to pay one point, this translates into an up-front closing cost of $2,000. Paying a point up front saves $100 a month but it will take 30 months to recuperate the cost of that point. If you decide to refinance or sell the home before the 30-month mark, your money is lost. In this case, you would benefit financially by remaining in the home longer than the 30 months.

Rates run in cycles. When rates are at historical lows, it is sensible to pay points if you plan to live in the home for an extended period of time. It is unlikely that rates will go down; hence, there will be no need to refinance.

When rates are up, there is a strong likelihood that they will come down. This is no time to pay points. The chances of refinancing in the future are extremely high, and you will likely not be in the loan long enough to recuperate the cost of the points.

Twin Lakes

Twin Lakes is a beautiful single family and townhouse community, featuring Martha Stewart homes, built by KB Homes located in Cary, North Carolina. Cary is ranked as the “most desirable place to live in the eastern United States”.

Prices starting from $220’s, the community features great amenities including swimming pool, tennis court, volleyball court, walking trails etc.

The single family homes include ranch style, as well as, two-story homes. It features homes ranging from1553 sq ft to 3872 sq ft. There are 8 models and 19 floor plans available with 3-6 bedrooms, 1-2 car garage and 10 year Limited Warranty.

Twin Lakes also offers various style of townhouses.

The community is conveniently located near the RDU airport, RTP, Raleigh downtown, Hwy-40 and many more other places of interest.

Several move-in-ready homes available. Call Deep Brar to schedule your appointment to visit the community.

www.deepbrar.com

12 Oaks

A Charming new golf community in Holly Springs brought to you by Wakefeild development company, with a wealth of amenities for people of all ages, including pool, clubhouse, fitness center, parks, trails, golf course, etc.  Located conveniently right off of Hwy 55 bypass.  Features great school district, new  shopping centers, close to Raleigh, Cary, Airport, and some major highways including hwy 401, US-1, I-40, I-440, and I-540.

Some of the well-known builders of this community include:  1st American builders, Bedford Builder Group, Chesapeake Homes North Carolina, W&W Partners, and Homestead Building Company.

Do not miss out the great opportunity.  Call today to make your appointment to view the available properties at 12 Oaks.

www.deepbrar.com

Brier Creek

Want to experience a luxury living in Raleigh area? Then Brier Creek is the place for you. Raleigh is considered one of the top areas to live in United States. Brier Creek provides townhouses, condos, apartments and luxurious single family homes by variety of builders. Toll Brothers, Standard Pacific Homes, Gateway homes are some of the builders to name at Brier Creek.

Lennox at Brier Creek by Standard Pacific Homes: Great collection of luxury townhomes available in inventory as well as pre-sales. This community features townhomes anywhere from approximately 1500 sq. to 3000 sq. ft. It has wonderful amenities to offer including swimming pools, club house, fitness center and much more.

The Townhomes are located off or Brier Creek Parkway and right behind Wake Medical Center. It is only minutes away from great restaurants, shops, movie theater etc. all located in Brier Creek Commons Shopping Center. Major highways like I-540 and Hwy 70 are also at a very convenient distance, yet not close enough to bother with the traffic noise.

Proposed Changes to Mortgage Process by HUD

Within days, the federal department of Housing and Urban Development plans to unveil sweeping proposed changes to the American mortgage application process and real estate settlement system.

The rule changes are the end-product of HUD’s five-year effort to streamline mortgage disclosures, promote comparison shopping by loan applicants, and to stamp out eleventh-hour surprises at closings — where fees come in hundreds or thousands of dollars higher than initial estimates.

Realty Times obtained a point by point summary of the proposals in advance of their official release by HUD. The changes are designed to radically overhaul the current, much-criticized “Good Faith Estimates” (or GFE) disclosures and the “HUD-1″ closing procedures.

Among the key changes in the 250-page HUD proposal:

1. Transformation of the GFE into a consumer education and shopping tool. The GFE will now explain in detail to an applicant how a particular loan works, how high monthly payments could rise, disclose any potential fees such as prepayment penalties, and provide information about escrow items.

2. New, strict limits on how much settlement charges can depart from the Good Faith Estimate stage — within three days of the loan application — to the HUD-1 closing stage. Total settlement charges could not be more than 10 percent above the initial estimates, absent tightly-defined “unforeseen circumstances” limited to acts of God, war and disasters, among others.

3. The Good Faith Estimate and the HUD-1 forms are aligned with each for easy comparison, with similar categories and graphic displays of loan origination charges and settlement cost items on both.

4. All fees paid to mortgage brokers by a lender in connection with the interest rate charged to the consumer must now be disclosed and listed on the Good Faith Estimate as a “credit to the borrower.” Brokers are likely to oppose this strenuously, arguing that competing loan originators — such as retail bank personnel — are not required to disclose fees they receive in connection with higher note rates.

5. All settlement agents will now be required to “read aloud” a new “closing script” to mortgage borrowers. The script walks consumers through the various charges on the revised HUD-1, and whether and why they differ from earlier estimates. Finally, the script requires the settlement agent to explain the loan terms and mechanics as stated in the mortgage note itself.

The proposals will have a 60 day period for industry and consumer comment, after which HUD is expected to issue them in final form with a period of months set aside to allow lenders, title companies and attorneys to gear up for the new forms and procedures.

Autumn Park

Autumn Park is a fairly new subdivision by Beazer Homes located right off of Avent Ferry Road intersecting Hwy 55. There are many resale properties available in the subdivision, although all the construction by the builder has been completed since a while ago. Living in Autumn Park has its own advantages including High School, Middle School, and Elementary School, all walking distance from the subdivision with inside path leading to the schools for children. New grocery stores, strip mall etc. are on their way which will be less than half a mile from the subdivision. There is already a new super Wal-Mart within 2-3 miles distance which is attracting a lot of business in the area.

The monthly HOA dues for Autumn Park are $66/quarterly. It is a very family oriented neighborhood with people walking dogs in the evening, children playing in the streets, neighbors getting together on occasions like Thanksgiving, Halloween, etc. and arranging activities together. The community also features two children’s playgrounds, a small lake with a fountain at the entrance, and side walks.

For any questions regarding the subdivision, or available properties, please contact Deep Brar at deep@deepbrar.com

Weston Place in Cary

Weston place offers a luxury lifestyle all brick townhouses at very reasonable price by none other than McCar Homes, one of the prestigious builders in the nation today.  The community, located in Cary, offers townhomes with 2 car garages, amenities including swimming pool and club house, and very spacious floor plans with high quality material.  It is conveniently located off of Cary Parkway, very close to Preston, with easy access to Hwy 40.  Excellent school district and close to the RTP.  

Monthly HOA fees are $140.  Currently offering some inventory homes and pre-sales.  Townhomes are going away quickly.  So hurry to book your luxury home today.  Call Deep Brar for more details.

www.deepbrar.com

Brier Creek

Brier Creek is one of the most wanted communities located in Raleigh, offering luxurious single family homes, townhomes, condos, and apartments. Standard Pacific homes, and Toll Brothers are some of the successful builders of Brier Creek. It is conveniently located near I-540 and the airport. Some of the other features of Brier Creek include Wake Med, Brier Creek shopping Center, excellent schools, and short distance to RTP, Durham, Chapel Hill and Raleigh.

Brier Creek at Country Club: A luxurious golf community by Toll Brothers with a wealth of amenities. Currently offering single family homes and condos in new construction. There are some townhomes available for resale!! Monthly HOA $250 with $2500 initiation fee. The fees may differ from single family homes to townhomes and condos.

Lennox at Brier Creek: Beautiful townhomes available in many different floorplans by Standard Pacific Homes!! Amenities offered are two pools, private parks, pool-side picnic areas, clubhouse with a gathering place, business center, recreation and fitness center. Located off of Brier Creek Parkway. Monthly HOA is $128.

Currently many inventories and pre-sales available. Call Deep Brar for more information!!

www.deepbrar.com