Local News

BB&T tries to reassure home buyers

Posted October 4, 2008 6:30 p.m. EDT
Updated October 4, 2008 10:54 p.m. EDT

— BB&T (Branch Banking and Trust Company) representatives will be in the Renaissance Park community this weekend hoping to reassure prospective home buyers after recent uncertainty in the housing market and economy.

“If someone just has average credit and some money for down payment, they still can buy a home,” BB&T loan officer April Young Oliva said Saturday.

Bank representatives and community developers said in many cases the key for home buyers is not spending more money than they make.

Danny Young and his wife, Leslie, recently signed the papers to buy their first home.

“My wife’s a number cruncher. We looked at a lot of different angles, price ranges that we can afford and can’t afford,” Young said.

BB&T brought a mobile banking bus to Raleigh to help kick off the 2008 Parade of Homes event this weekend. The Parade of Homes continues every Friday through Sunday until Oct. 19.

“We are definitely apart of the down market syndrome right now, but we are shielded to a certain extent because so many companies are still relocating here,” said Dawn Forrest, of the Wakefield Development Company which created Renaissance Park and other communities.

Developers said this year the Triangle is on pace to sell about 10,000 homes, which is lower than normal.

Melissa Wistehuff and her husband just bought a house in February. She suggests playing it safe when buying a home.

“I’d say if you don’t have to move, don’t move,” she said.