Eight Ways to Improve Your Credit #RealEstate #Realtor #Homes #credit

Courtesy of Patti Duty, REALTOR® Eight Ways to Improve Your Credit   Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for.   Check for and correct errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management. Pay down credit card bills. If possible, pay off the entire balance every month. However, transferring credit card debt from one card to another could lower your score. Don’t charge your credit cards to the maximum limit. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year. Don’t order items for your new home you’ll buy on credit—such as appliances—until after the loan is approved. The amounts will add to your debt. Don’t open new credit card accounts before applying for a mortgage. Having too much available credit can lower your score. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management. This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation. To obtain a complete copy of the publication, Knowing and Understanding Your Credit, visit http://www.homebuyingguide.org/ Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

The Pros and Cons of Condos

Courtesy of Patti Duty, REALTOR® The Pros and Cons of Condos Condominiums and townhouses offer an affordable option to single-family homes in most areas. But consider these facts before you buy. Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongs. Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you hate yard work, this may be perfect option for you. Amenities. Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home. Maintenance. Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you’re not home. Security. Many condos have keyed entries and or even doormen. Plus, you’ll be closer to other people in case of an emergency. Reserve funds and association fees. Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you’re interested in the amenity or not. Resale. The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar. Single-family homes are usually more individual, so ever if there are others for sale in your area, they probably won’t be exactly like yours. Freedom. Although you have a vote, the rules of the condo association can affect your ability to use your property. For example, some condos prohibit home-based businesses. Others prohibit pets. Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer. Proximity. You’re much closer to your neighbors in a condo or town home. Look at profile of other owners be sure you’ll be comfortable. If possible, try to meet your closest prospective neighbors. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Obama Waives Refi Requirement .. #RealEstate #Realtor #mortgage #Tax #bills #budget

#Obama #Waives #Refi #Requirement

from lowermybills .com 

June 2014: Obama gives homeowners a bailout. If you owe less than $625,000 on your home, use the President's Refi Program. You'll be shocked when you see how much you can save. CALCULATE NEW HOUSE PAYMENT

 

In the President's State of the Union address, he told homeowners that if they refinanced at today's historically low rates, they could save up to $3,000. This statement can be found in the State of the Union transcript - http://www.whitehouse.gov/the-press-office/2012/01/24/remarks-president-state-union-address. Additionally, homeowners who refinance from 30 year fixed mortgages to 15 year fixed mortgages can save up to $145,000. Further information for this can be found at http://www.nytimes.com/2011/08/21/realestate/exploring-the-15-year-loan-for-refinancing-mortgages.html

Under provisions of the Making Homes Affordable Act (a.k.a. HARP 2.0), signed into law by President Obama, Fannie Mae has removed certain loan refinance requirements for qualifying loans including the Loan-To-Value (LTV) ceiling for fixed-rate mortgage, property appraisal, minimum credit score & credit check, and eliminated & lowered certain fees for borrowers making it easier to refinance into a lower rate mortgage, effectively reducing the amount of interest paid (and owed) over the life of the loan. More info: http://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Fannie-Mae-and-Freddie-Mac-Announce-HARP-Changesto-Reach-More-Borrowers.aspx

LowerMyBills, Inc. is not acting as a lender or broker. The information provided by you to LowerMyBills is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors. LowerMyBills does not offer its matching services in all states. This loan may not be available for all credit types, and not all service providers in the LowerMyBills network offer this or other products with interest-only options.

 #lower #my #bills

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Your Property Wish List #Realtor #RealEstate #homs #forSale

Courtesy of Patti Duty, REALTOR Your Property Wish List   While your opinions on the type of home you want to own may change during the homebuying process, use this easy checklist to help you set your prioritize and make the shopping process less time consuming. How close do you need to be to (a) public transportation _____ (b) schools _______ (c) airport ___________ (d) expressway _________ (e) neighborhood shopping________ (f) other________. What neighborhoods would you prefer? What school systems do you want to be near? What architectural style(s) of homes do you prefer? Do you want a one story or two-story house? How old a home would you consider? How much repair or renovation would you be willing to do? Do you have special facilities or needs that your home must meet? Do you require a fenced yard or other amenities for your pets? Prioritize each of these options into Must have Would Prefer Yard (at least_________)     Garage (size________)     Patio/Deck     Pool     Bedrooms (number_________)     Bathrooms (number_________)     Family room     Formal living room     Formal dining room     Eat-in kitchen     Laundry room     Basement     Attic     Fireplace     Spa in bath     Air conditioning     Wall-to-wall carpet     Hardwood floors     View     Light (windows)     Shade       http://www.wiseagentonduty.com/articles/Your-Property-Wish-List Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.

 

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How Big A Mortgage Can I Afford? #Tax #budget #home #realestate #realtor

Courtesy of Patti Duty, REALTOR® How Big A Mortgage Can I Afford?   Not only does owning a home give you a haven for yourself and your family, it makes great financial sense, too. This calculation assumes a 28-percent income tax bracket. If your bracket is higher, your savings will be too. Rent: _________________________ Multiplier: X 1.32 Mortgage payment:__________________ Because of tax deductions, you can make a mortgage payment—including taxes and insurance—that is approximately one-third larger than your current rent payment and end up with the same amount of income. To determine what your monthly mortgage payment would be on various loan amounts, visit http://www.realtor.org/realtororg.NSF/pages/FMCalculators?OpenDocument&Login Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved. GET MORE TIPS AT: www.WiseAgentOnDuty.com

Five Factors that Decide Your Credit Score

Courtesy of Patti Duty, REALTOR® Five Factors that Decide Your Credit Score Scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score. Your Payment History. Whether you paid credit card obligations on time How Much You Owe. Owing a great deal of money on numerous accounts can indicate that you are overextended. The Length of Your Credit History. In general the longer the better. How Much New Credit You Have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly. The Types of Credit You Use. Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example. For more on evaluating and understanding your credit score, go to http://www.myfico.com/?lpid=NARI3.   GET MORE TIPS AT: www.WiseAgentOnDuty.com

Tips on Buying in a Tight Market #RealEstate #REALTOR

Courtesy of Patti Duty, REALTOR®

Tips on Buying in a Tight Market

Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps.
Get prequalified for a mortgage. In this way, you’ll be able to make a firm commitment to buy and make your offer more desirable to the seller.
Stay in close touch with your real estate sales associate to find out first about new listings that come on the market. And be ready to go see a house as soon as it goes on the market.
Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by the neighborhood frequently. Maybe you’ll see a brand-new “for sale” sign before anyone else.
Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.
Bid competitively. You may not want to start out offering the absolutely highest price you can afford, but don’t try to go to low and get a deal. In a tight market, you’ll lose out.
Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell you house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.
Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy anything. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights

reserved.

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Buying a Home? Budget Basics Work Sheet #RealEstate #Realtor #Tax #Budget #homes #buy #sell #ForSale

Budget Basics Work Sheet

 

The first step in getting yourself in financial shape to buy a home is to

know what you make and what you spend now.

List your income and expenses with link below.

 

http://www.wiseagentonduty.com/articles/Budget-Basics-Work-Sheet

#RealEstate #Realtor #Tax #Budget #homes #buy #sell #ForSale

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www.WiseAgentOnDuty.com
 

 

 

Selling a Home? Sell a Home, Not a House

For Sellers

Sell a Home, Not a House

One of the great ironies of selling your house is that you must get it in such great condition that you may ask yourself why you would even want to move out. Your focus right now may be on your own dream home, but consider your current house as someone else’s dream home, and start preparing it for them. Putting a little work into it now makes the entire process of selling your house much more profitable for you in the long run.

Who Else Do You Need On Your Team?

While a great real estate agent is key to selling your home, you will actually be employing a team of specialists to get you through the process. Your real estate agent is well-connected and in many cases they will be able to recommend people who will handle all the services that go with fixing-up and selling your home, including: lenders, pest control specialists, home warranty companies, inspection companies, contractors, and plumbers.

Timing It Right

When you are selling your home and buying a new one at the same time, the ability to juggle the responsibilities of both can protect you from headaches. Avoid having to handle two giant chores at once by starting early. Make a list of whom you need to notify about your change of address, including utility companies and credit card companies. Start packing the knick-knacks and off-season items you won’t be needing before the move. If you can start doing repairs around the home as early as possible -- even a full year prior to the sale of your home -- you will be able to avoid a huge bill right before the sale.

Lighten The Load

As you begin packing to move to your new home, the realization will probably hit you like a ton of bricks: You have a ton of stuff. Rather than packing it all and lugging it to your new house just to stuff it into the garage and closets, lighten your load and make your move easier. A garage sale is a great way to unload lots of your little-used items and make a little extra cash to spend on decorating your new home. You can also sell some of your rarer possessions on auction sites such as Ebay. You may get a pretty penny for old toys and books which might have sold for a lesser price at your garage sale. Also consider donating furniture and clothing to charity. You’ll be doing something good for yourself and for others

Consumers Remain Optimistic About Real Estate

Consumers Remain Optimistic

About Real Estate

Americans’ outlook toward the housing market continued to improve in

April, perhaps foreshadowing an increase in housing activity in the

coming months, according to results from Fannie Mae’s April 2014

National Housing Survey. The share of respondents who believe now is

a good time to sell a home increased for the third consecutive month to

an all-time high of 42 percent, an encouraging sign since many potential

homebuyers will need to sell a home before entering the purchase

market. In addition, the share of respondents who say now is a good

time to buy a home remained steady at 69 percent following a gradual

climb since the beginning of the year.

Notably, although consumers remain generally split regarding their ability

to get a mortgage, fewer respondents are concerned about losing their

job – which may encourage potential homebuyers to enter the market.

Source: Fannie Mae National Housing Survey polled 1,000 Americans via live telephone interview to

assess their attitudes toward owning and renting a home, home and rental price changes,

homeownership distress, the economy, household finances, and overall consumer confidence. See

/www.fanniemae.com/portal/research-and-analysis/housing-survey.html for more information.

Rain in Wise County!

Wise County Rain Fall

woooohoooooo!

 

 

So earlier today as I was driving to appointments, I got a few drops of rain on my windshield.  At the time the sun was shining brightly and it was trying to rain again.  Now as I am looking out the window at the overcast sky, it appears that we may get some more of this thing that they call rain?  LOL. Anyway this time of year it almost always seems to allude Wise County. So I am so proud see that we got good numbers over the weekend and I must say that I am enjoying this cooler temperature as well.
Here are the statistics from the weekend as reported by the Wise County Messenger.

"RAINY START TO THE WEEK – Much-needed rain fell in Wise County Sunday morning and then again this morning. Rainfall totals as of 7:30 a.m. included 2.01 inches in Bridgeport, 2 in Cottondale, Greenwood and Alvord, 1.5 in Paradise, 1.43 in Decatur and 0.92 in Rhome. The rain should end later this morning."
So everyone I hope you enjoy your week and what a great way to start of the week with cooler temps.