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Mark Watson's Blog

By The Watson Group | Agent in 28277
  • Lower Mortgage Rates Can Only Do So Much

    Posted Under: Home Buying, Home Selling, Financing  |  September 14, 2012 11:01 AM  |  131 views  |  No comments

    Federal Reserve chairman Ben Bernanke launched a new program Thursday aimed at pushing mortgage rates even lower But even given the lower rate industry insiders are skeptical about how much good this action will do.

    The Fed announced it will buy up additional mortgage-backed securities at a rate of $40 billion a month until the economy recovers in hopes  that this program will decrease pressure on mortgage rates.

    Rates are already low at an average 3.55% for a 30-year fixed-rate mortgage.  As important as lower interest go,it  is even more important for a Home Buyer to qualify for a loan.  This can  be a difficult task for some.  It is important to have an informed Lender who can offer a variety of mortgage programs.  This is why working with a knowledgeable Realtor is critical in today’s market.

    Mark Watson

    The Watson Group

    Keller Williams Realty

    www.MarkSellsCharlotte.com

    Broker/Realtor/Pilot

    704-641-6605 (Mobile)

    704-717-5756 (e-Fax)


  • FINALLY!! A timeline for short sales!

    Posted Under: Home Buying in Charlotte, Home Selling in Charlotte, Financing in Charlotte  |  April 19, 2012 9:32 AM  |  228 views  |  No comments

    The short sale set out to help hurting home owners, but the process has proven to be lengthy and frustrating.  60… 90 days without response from your bank, no information provided on the REAL ramifications, and I couldn’t find one single positive review on the web from anyone that has been through it.  It’s such an emotional time for home owners, and even when you seek help from a Realtor or attorney that specializes in short sales… we’re all at the mercy of the overwhelmed bank.

    Last year Freddie Mac completed 45,623 short sales, a 140% increase since 2009. 

    Fannie Mae’s short sale completions shot up by 101% over the same period, totaling around 79,800 in 2011.

     Starting June 15th, 2012 homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days.  The new timelines require services to make a decision within 30 days of receiving either an offer to purchase a short sale home, or a borrower requesting short sale consideration.  If more than 30 days are needed, services must provide the borrower with weekly status updates and come to a decision no later than 60 days from the date the offer was received/ borrower submitted request.

     Great news for struggling homeowners and the agents that strive to help them through the tangled web of the short sale.  A short sale is an effective foreclosure alternative when keeping your home is no longer an option. 

     As a home owner that is considering a short sale, or a buyer that has interest in all the incredible deals on the market right now, you’ll need a strong agent to help you navigate this market.  Please give me a call if you have any questions or check out my website to access ALL the Charlotte, NC real estate available.

    Whether you’re buying or selling a home in Charlotte NC, Mark Watson and his Keller Williams team has the experience you'll need to have a smooth and successful transaction. Charlotte is a thriving, diverse city and Mark works with people from across the country and around the world. If you’re looking for lake property or water front communities in Charlotte, you’ll find Lake Norman in north Charlotte or Lake Wylie in south-west Charlotte. If you prefer older, close-in neighborhoods with mature tree-lined streets and craftsman style design, you’ll surely love homes in Dilworth, Plaza Midwood, Elizabeth and Chantilly. For those in search of lofts and warehouse type dwellings with modern design, Uptown Charlotte and Southend is where you’ll be drawn. South Charlotte real estate offers buyers larger, newer homes in areas like South Park and Ballantyne. Give Mark a call! The Charlotte NC real estate market is robust and having a strong, professional real estate agent to guide you through buying or selling a home makes all of the difference in the world.

     
    Mark Watson
    Broker/ Realtor/ Pilot
    The Watson Group
    Keller Williams Ballantyne
    Mark@MarkSellsCharlotte.com
    www.MarkSellsCharlotte.com
    704-641-6605

     

     

     

  • Interest Rates On The Rise!

    Posted Under: Market Conditions in Charlotte, Home Buying in Charlotte, Financing in Charlotte  |  December 21, 2010 7:03 AM  |  329 views  |  No comments
    For all of you prospective home buyers out there, if you haven’t been watching, mortgage interest rates starting going up last week.  Just seven days ago, they jumped from the low 4% range to 4.67%.  Today they’re sitting at 4.97%.  Rates are expected to make a couple of more sizable leaps this week alone.  So, if you’ve been on the fence about purchasing home a home, now is definitely the time to act.  With rates still very reasonable, you may be able to afford more home than you realize.  Don’t consider a particular price of home but think of what you want your monthly mortgage payment to be.  With rates where they are, you may be able to afford more home than you realized.  As interest rates climb, the amount of home you can afford will go down.  Make since?  Now get to buying!
 
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