Are you aware of what affects your credit score?
Below I have listed some do’s and dont’s for what can affect your credit score. Anyone who is struggling with their credit, trying to establish or even reestablish credit and first time home buyers should give this list a good read. You should know just how important your credit score is. It is what helps you apply for loans, have reasonable interest rates and much more! Please take the time to understand your credit score and apply that knowledge.
Do’s:
-Pay your bills on time! There is no reason you should be a month late when paying
-Help lower debts by paying off chunks as often as you can – aka Credit Card bills
-Check for and fix any errors as soon as you can
-Avoid credit scams
-Used secured credit cards
-Try to co-sign when establishing credit
-Try Quick and Rapid Rescore – Do this through a bank or mortgage company
Do Not’s:
-Keep any financial problems to yourself – talk to your creditors
-Close accounts – discuss whatever the issue is with your creditor
-Open a new account unless you Must
-Think that foreclosure or bankruptcy is the answer – it never is and will stay on your credit report for about a decade
Cary Christian School Benefit Auction
Truly from my heart, I have so much fun going to this annual auction/gala at Prestonwood Country Club. The food is wonderful, the band is always top notch and it is fun to watch people spend their money on such a good cause. If you can’t make it this year, go to www.carychristianauction.org and place a bid on as many items as you like. Hope to see and meet you Friday night.
Cary is the #1 Real Estate Market to Watch
Part of 10 Real Estate Markets to Watch in 2012 (an Inman News Special Report) the Raleigh-Cary area was rated as number one! It has a brief summary about the town – population, median sales prices, foreclosure activity, etc. before talking about the area’s market. Below is the word for word article about our area. I hope you enjoy!
“Despite a steep drop in sales, the Raleigh-Cary market saw considerable price appreciation last year, with its median sales price for single-family homes jumping 7.3 percent from third-quarter 2010 to third-quarter 2011.
At $224,300, the Raleigh-Cary metro had the highest median sales price among the 10 markets on this list and was the only market with a median sales price aboce the U.S. median. Nonetheless, its affordability rate stayed above the national level, with 73.6 percet of its homes affordable to households earning the area’s median income, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.”
Pre-Super Bowl OPEN HOUSE this SUNDAY
Foreclosures to Decrease
There is Good News on the Real Estate front! Foreclosures have gone down 34% in 2011, making the lowest annual level since 2007. (According to MarketTrac, an online marketplace for foreclosure properties.)
Chimney Cricket…?
When you receive your home inspection report back, do you understand what it means when a chimney cricket is reported as needed or absent? Well, it has nothing to do with the movie Pinocchio.
A chimney component, called a cricket, will divert water away from the chimney as it travels downward from the roof above. The design is intended to have water avoid the chimney area and instead go directly to the gutter below. It is called a “chimney cricket” by the IRC Building code 1003.20. The device is triangular and required to be installed on the upside of the chimney when the width of the chimney parallel to the ridgeline is greater than 30 inches at the right angle intersection of the roof and the chimney.
If you have a wide chimney without this provision, then it will allow water coming from the roof angle above to pool at the chimney area and eventually penetrate the home! So make sure you pay special attention to the chimney cricket! It may not be Jiminy from Pinocchio, but it could help save you from a whale of a problem later on!
REAL ESTATE IS COMING BACK in 2012
Great post put up by USA Today!
“Optimism is building that the housing industry is nearing a bottom — finally.
Home sales and home building are forecast to rise this year after sliding steeply the past five years in housing’s worst downturn since the Great Depression.
Recovery is expected to be slow, and home prices are widely expected to fall this year. But investors are betting on the start of an upturn, bidding up home builder stocks and causing them to outperform the broader stock market.
Chief executives are more positive. JPMorgan Chase’s Jamie Dimon said last week that housing is near its bottom but could stay there a year. Stuart Miller, CEO of home builder Lennar, said the market has started to stabilize because of low prices and record-low interest rates.
Market researcher RBC Capital Markets has also turned from a “bearish” view on housing to saying that 2012 “will mark a step in the right direction.”
Many economists expect home prices to fall more this year because of foreclosures and other properties sold at very low prices.
As foreclosures pick up this year, “prices will drop,” says Stan Humphries, Zillow chief economist. He says home prices won’t bottom until later in 2012 or next year.
On average, prices have fallen by about a third since 2006.
“This year will feel a lot better to builders, investors and real estate agents than to consumers,” says Jed Kolko, economist for real estate website Trulia.
Housing’s outlook is brightening with signs of a better economy. Last month, U.S. employers added 200,000 jobs, and the unemployment rate fell to 8.5%, lowest in nearly three years.
While an economic shock could derail progress, “there’s now more evidence of improvement in the economy, and housing will follow the economy,” says David Crowe, chief economist at the National Association of Home Builders. More improvement is expected for:
•Sales. Existing home sales will rise 12% this year after a 2% increase last year, and new home sales, coming off a horrid year, will jump 74% this year, Moody’s Analytics predicts.
November’s existing home sales hit their highest mark in 10 months, and new home sales were the year’s second best, IHS Global Insight says.
•Construction. Single-family housing starts will rise 37% this year, Moody’s predicts, after falling 9% last year.
Home builder stocks are on a run. The S&P 1500 homebuilding index is up 38% since mid-October, vs. 7% for the S&P 500.”
Copyright © 2010 USA TODAY, a division of Gannett Co. Inc.
Crime during Christmas Time
Believe it or not, crime rates pick up during the Holiday season. Be careful so that you are keeping everything safe and sound during that time. Here are a few tips so that you won’t fall victim this year.
1. Pay Attention. Make sure you are aware of your surroundings, especially when leaving the store after it gets dark. Do not leave any packages visible in the car. This way, they are less likely to try to break into your vehicle.
2. Make Sure you Sign for All Packages. Criminals do not just stay in mall lots, but in neighborhood streets as well. They sometimes follow FedEx and UPS trucks so that they can snatch up boxes left unattended at the door. When you order a package, make sure you ask for a signature so that the package won’t be left outside.
3. Have Your Home Well Lit. Make sure you have some lights on or else you are flashing a huge sign to say that no one is home. Please lock up everything tight and leave a few lights on.
We hope you do not fall victim to any crimes this Holiday Season. Have a safe and fun Merry Christmas and Holiday.
The Mistakes of Home Buying
Watch out for these common mistakes, don’t fall pray to them!
1. Remorse – Don’t sweat the small stuff, not every home on the market is perfect. You’ll have to fix a few things, but don’t let it get you down
2. Resale – Just because it’s the biggest one on the block, does not mean you should buy it. If anything, the smaller houses will weaken the value of your own.
3. Review – Love at first sight does not mean “buy without checking”. Make sure the home has everything that You need; number of bedrooms for children, backyard for playing, off the main road due to traffic, etc.
4. Fine Print - Make sure you read all the information before you make the contract legal and binding. Don’t let anything sneak up on you down the road.
5. Buying Alone – Bring a whole team with you to get an idea of the home better. Have a lender, lawyer, insurer, and inspector. Ask questions before you buy as well.
6. Loan No More – Just because you can be approved for more, does not mean you should. Make sure that your total monthly debt is no more than 36% of your income before tax.
7. Trust – Ask questions, do some research, and don’t be afraid to speak up. There should be trust between yourself and your agent, as well as with the lender and seller.
8. Get Pre-Approved – There is no need to look at houses without knowing the limit. You may want one for $250,000, but your approval is only $100,000.
9. Know the Appraisal – If it is lower than the sale price, then your loan could be declined. Obtain adequate hazard insurance, get a thorough home inspection, and make sure there is equity in the home.
10. Get it in WRITING – If the seller offers to give you something along with the house (like a sofa), make sure it is in writing.
Does your house suffer from Stinky House Syndrome?
There are some houses that you walk into and get overwhelmed by a certain smell. You can not put your finger on what exactly it is, but there is no mistaking that it is there. How does one deal with this phenomenon? Below I have compiled a few tips that will help make Stinky House Syndrome a thing of the past.
1. Burn Scented Candles (do not leave where flame is unattended)
2. Put out dishes of dried Lavender or Rosemary
3. Try spraying perfume on a light bulb (on that is not turned on!) When heated, the scent will carry
4. Burn incense
5. Dried eucalyptus not only looks pretty, but smells great
6. Bake cookies, cakes, bread, etc.
7. Simmer apple slices or orange peels along with cinnamon sticks on the stove
8. The magic that is Febreeze
9. Leave carpet deodorizers on the carpet and then vaccum
Hide these next few from view!
10. Plug-in fresheners
11. Bowls with sponges and vanilla extract poured on them
12. Use fridge baking soda boxes to catch bad odors
And the simplest one of all: Open your windows. Getting some fresh air flowing through the house can do so much more than just getting a lovely breeze in the living room.
