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Market
↑ Months of unsold inventory: 18.9
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Months of unsold inventory in December 2007: 10.7
↓ Rate of foreclosure filings (state):1 per 1,443 households
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Rate in November 2007: 1 per 992 households
↓ Percentage of Raleigh-Durham-Chapel Hill home purchases financed with multiple loans: 4.4 percent (DataQuick)
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Percentage in October 2007: 13.1 percent
↓ Average Raleigh-Durham-Chapel Hill first-mortgage amount: $191,769 (DataQuick)
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Average in October 2007: $200,520
↑ Percentage of sales with FHA-insured financing: 22.6 percent
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FHA-insured financing in October 2007: 5.5 percent
↑ Median monthly housing costs: $1,393
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Median monthly housing costs in 2000: $1,218
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U.S.: $1,402
↓ Median sales price: $188,900
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Median sales price in December 2007: $194,700
↓ Properties sold: 1,089
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Properties sold in December 2007: 2,108
Industry
Licensing: Mortgage brokers must obtain a license from the North Carolina Commissioner of Banks, pass state and federal background checks, submit fingerprints, pass coursework and an exam, pay a filing fee, and post a surety bond of $50,000 or any appropriate deposit of cash or securities in lieu of any required bond. The annual renewal fee cannot exceed $625.
Number of brokers:
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Raleigh, Durham and Chapel Hill: 157
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State: 411
State association: North Carolina Association of Mortgage Professionals
Résumé
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Demographics: 67 percent white, 23 percent black,4 percent Asian, 6 percent other; 9 percent identify as Hispanic or Latino
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Top area private employers: Duke University and Medical Center, IBM, WakeMed Health and Hospitals, Wal-Mart, GlaxoSmithKline PLC
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Home to nine four-year colleges
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9th-best U.S. city (Raleigh) for jobs in '08 (Forbes)
Darrick Meneken is an associate editor at Scotsman Guide. Reach him at (800) 297-6061 or darrick@scotsmanguide.com.
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