City of Sanford Commits $4.2 Million for Affordable Housing

(memo from City of Sanford) Sanford City Council has committed to spending $4,268,444 for four transformative community initiatives as defined by the American Rescue Plan Act (ARPA). *$690,444 – to provide and protect affordable housing. The City of Sanford will contract with Brick Capital Community Development Corporation to provide home buyer education. The City willContinue reading “City of Sanford Commits $4.2 Million for Affordable Housing”

FHFA Adopts New FICO Scores

FHFA Announces Framework to Adopt New FICO and VantageScore Scores October 25, 2022 Fannie Mae & Freddie Mac (GSEs), Credit Policy By: Ken Fears (National Association of REALTORS®) The FHFA announced(link is external) that it will implement a framework for adopting two new credit scoring models by Fannie Mae and Freddie Mac. The framework will likely take several yearsContinue reading “FHFA Adopts New FICO Scores”

Fayetteville City Council Meeting Report October 24

The following agenda items were discuss and voted on as they pertain to real estate. Case P22-36 Conditional rezoning from Single-Family to Mixed-Residential Conditional Zoning for no more than 160 units. The property is 15.14 acres and is located on 7009 Fillyaw Road. The developer plans to build 125 units. The property is owned byContinue reading “Fayetteville City Council Meeting Report October 24”

NC REALTORS ® Legislative Agenda for 2023-2024

The NC REALTORS® 2022 Legislative Committee met this week to review the 2023/24 legislative priorities for the NC General Assembly. (from NC REALTORS® report) – This plan outlines anticipated advocacy activity for the 2023-24 Legislative Session. It identifies issues that the Governmental Affairs team is proposing to address. Short Term Rentals (STR) – Property ownersContinue reading “NC REALTORS ® Legislative Agenda for 2023-2024”

Fayetteville City Council Update

The following agenda items were voted on by the Council as they pertain to the real estate industry. *Rezoning of property from Office Institutional to Limited Commercial located at the intersection of McArthur Road and Stacy Weaver. The city’s paperwork does not state the commercial development. This rezoning PASSED. *Annexation APPROVED along the western sideContinue reading “Fayetteville City Council Update”

Cumberland County Commission Update

The following rezoning’s were voted on as they pertain to the real estate industry. Wayne Younts Realty & Construction requested a rezoning from A1 Agricultural District to R40 Residential District for 35.83 acres. The property is located adjacent to Wade Stedman Road and Royal Williams Road. The planning board and staff recommended APPROVAL. The purposeContinue reading “Cumberland County Commission Update”