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

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