Mortgage News in the Carolinas
Posts tagged The Today Show
Practical Advice : How To Help Your Home Sell Faster
0473 days
by Geoff Brown
in Home How To
In December, home sales reached an 8-month high, recovering from the losses of last summer. Market momentum is positive across Carolinas , but that doesn’t mean every home is selling quickly — only some of them are.
So, if you’re a home seller and want (or need) to get your home sold quickly, take a listen to this 3-minute interview from NBC’s The Today Show. It’s loaded with practical sales advice for sellers.
As examples:
- How to price your home relative to comparable homes for sale
- Using home inspections to keep your contract on-track for closing
- How much should be spent on your “home photos” that are shown online
The interview also covers about the 3 key places of a home on which to spend money — the kitchen, the living area, and the front facade. And for good reason — they’re emotional hooks for buyers that help sell homes.
In any market, selling a home can be a challenge. It can be easier by applying common sense.
Better Credit Scores Get Better Mortgage Rates
0565 days
by Geoff Brown
in Credit Scoring
This week marks the start of the Refi Boom’s 7th month; rates have been falling since early-April 2010. Whether you’re looking to refinance or buy a home, however, know that not everyone will qualify for today’s low rates.
Mortgage approvals are primarily based on good income, good equity and strong credit, and, without all three, the best rates of the day remain out of reach. Now, you can’t always ask for a raise and equity is a function of the housing market, but you can do something about your credit score.
In this 4-minute segment from NBC’s The Today Show, you learn some credit basics to help propel your score higher:
- There’s no “quick fix” for credit. Time + Good Credit Behavior = Better FICOs.
- Pay every bill when it comes due. Even one late payment can damage your score.
- Don’t close old credit cards
Also among the segment’s advice is to stop worrying about whether rates have bottomed. Refinance today if it makes financial sense. Then, if, by chance, rates fall in the future, just refinance again. Don’t be greedy, we’re told.
Avoiding Common Mortgage Scams
0583 days
Despite tougher mortgage guidelines and better loan disclosures for consumers, mortgage fraud is on the rise, according to the FBI.
Fraud has many varieties and it’s estimated cost to the nation is between $4-6 billion annually. Today, common mortgage fraud scams target homeowners behind in their mortgage payments and/or facing foreclosure. And, despite the hordes of legitimate organizations that dedicate themselves to helping consumers, mortgage fraudsters proliferate.
In this 3-minute piece from NBC’s The Today Show, you’ll learn to spot common frauds, and to avoid them.
Some of the frauds highlighted include:
- The Rent-to-Buy arrangement
- The Bait-and-Switch
- The “Phantom fees”
With respect to mortgage paperwork, it’s always wise to read what you’re signing, and to take time to understand what it means. If you’re uncomfortable reading mortgage documents, ask for an attorney’s help. And don’t worry if you don’t have the budget — many states offer free or discounted help via advocacy groups.
Rent A Home Or Buy A Home : The Case For Both Sides
0611 days
by Geoff Brown
in Budgeting
Is it better to rent a Charlotte home, or to buy one? The answer may not be as clear-cut as you think. In this balanced, 3-minute joint interview from NBC’s The Today Show, you’ll hear the case for both sides.
From the pro-renting part of the talk, there’s valid points about the economic impact of low credit scores and/or no cash for downpayment, and the ongoing, annual cost of home maintenance — estimated at 2% of a home’s value. Plus, renters have the ability to “follow a job” to a new town or region whereas a homeowner may be restricted, somewhat.
From the pro-purchase part, however, there’s excellent points that were made, too:
- Mortgage rates are low and each 1% drop to rates equates to a 9% drop to home price
- Buyers can zero in on a particular area with particular schools or walkability, for example, better than renters
- A home can a piggybank over the long-term; a place for “forced savings” for families that want it
- You can fully enjoy a home and change it into whatever you want.
The segment then closes with 5 of the best cities in which to rent, and 5 of the best cities in which to buy.
Whether buying or renting, don’t try to go at it alone. There’s lot of resources online and I would be happy to refer you to a real estate professional.
