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Cheyenne Wyoming Events and News, Local Information, Cheyenne Photo Galleries, Real Estate Market Information
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Whether you are buying or selling a home, a Real Estate
Agent will negotiate his/her commission with you. It is the same as hiring an
attorney or accountant. They can save you money. A professional agent can guide
you through the pitfalls of the home market. There are two ways one can sell a
home. You can try and sell the home as a “For Sale by Owner” or hire the
services of a Real Estate Agent. In the unpredictable Real Estate market it is
highly recommended to obtain the services of a professional. Not only will an
experienced Real Estate Agent save you a lot of money, he/she can see that the
deal closes successfully.
When selling a home you compete against many foreclosures
and short sales available on the market. To find a buyer that is willing to pay
the fair market value for your home can be easier said than done. The services
of a professional Real Estate Agent are needed in today’s volatile market.
When buying a home you need a true expert that can negotiate
on your behalf. First you have to make an offer and after the home inspection
you may have to re-negotiate. The lender wants to protect the investment by
making sure the mortgagor can repay the money. The lender also wants to make
sure the property has sufficient value. The lender will request an appraisal.
Deals often get cancelled after appraisal. According to the National
Association of Realtors 11% of deals are cancelled from an appraisal coming in
below the price negotiated between buyer and seller. 14% of successful deals
are renegotiated to a lower sales price. You need an expert to keep the deal
together until it closes.
Hire a Real Estate Agent and negotiate the commission. In
this maze of Real Estate complexities your agent will be worth it.
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The items that homeowners use the most are
energy and cleaning products. We are spending so much time on how to survive
and fix the economy that we tend to forget about other important things. We
have a responsibility in doing our share to make the earth a healthier place.
Here are some great tips on how to contribute:
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We use a lot of cleaning products. You can buy
earth-friendly cleaning products. You can also use baking soda, vinegar and
lemon to clean tiles and other surfaces;
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Do not leave lights on if not necessary. You can
help to save energy;
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Do not let the water run for longer as what is
necessary. Preserve water;
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Save money by insulating you home. It keeps hot
air in when cold and the cold air in when hot;
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Make sure there are no cracks and openings by
the window frames and doors’
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A laptop uses less energy than a desktop and it
also saves you space;
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Some paints are toxic. Zero-voc paints are safe
and cost a little bit more than the traditional paints;
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If you are not using an appliance then leave it
unplugged;
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Use free and clear laundry detergent;
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Energy Star rated appliances meet a strict
standard of energy usage;
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Use CFL light bulbs. They last longer and cost a
little bit more initially, but can save money on the long run.
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Wash in cold water and save energy;
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Most cities have recycling centers and bins.
Here you can dump metal, glass, and paper, cardboard and plastic. Do your
recycling and save the environment.
With a little extra trouble we can all contribute
in order to keep the world safe and clean. Every bit helps.
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To all my clients, friends and family: I wish you a happy
and prosperous 2012!
A good score to buy a home:
To buy a home and borrow money, one has to be credit worthy.
It is necessary to have a good understanding about the credit score. A credit
score reflects how you pay your debts. If indicates how you make your payments
every month. The credit score is the judge of your credibility and also shows
your affordability when opening new accounts. The lower your credit score, the
higher is the interest rate the lender will charge you.
How does the score count work?
A credit score ranges from 300 to 900. The score count given
to you can be either good or bad. Above 700 is excellent; from 500 – 699 is average
and below 500 is poor. If you are in the last category, you can start to change
your score.
How do you obtain a sound financial status?
It is easy to maintain a good credit score. You have to be
careful with your finances and control it. Here are some guidelines:
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Avoid opening short term accounts;
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Pay your accounts every month on time;
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Check your financial status on the credit report
regular and sort out any errors that might occur on you credit report;
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Multiple credit cards may result into confusion.
This can lead to missing a payment.
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Avoid too much of debts. Keep your debts to a
balanced limit.
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If you paid an account in full, avoid closing
the account. This account can add to you credit worthiness.
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Bankruptcy can harm your credit score tremendously.
Avoid this option as far as possible.
Money is an essential point in your daily life and it is
crucial to have a good credit score when you plan on buying a home. By
monitoring your financial status and being careful not to misbehave when paying
your every month installments, you can maintain a sound financial status.
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To all my friends and clients:
Wishing
you a joyous Holiday Season and a most prosperous and healthy New Year.
To buy a home and borrow money, one has to be
credit worthy. It is necessary to have a good understanding about the credit
score. A credit score reflects how you pay your debts. If indicates how you
make your payments every month. The credit score is the judge of your
credibility and also shows your affordability when opening new accounts. The
lower your credit score, the higher is the interest rate the lender will charge
you.
How does the score count work?
A credit score ranges from 300 to 900. The score
count given to you can be either good or bad. Above 700 is excellent; from 500
– 699 is average and below 500 is poor. If you are in the last category, you
can start to change your score.
How do you obtain a sound financial status?
It is easy to maintain a good credit score. You
have to be careful with your finances and control it. Here are some guidelines:
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Avoid opening short term accounts;
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Pay your accounts every month on time;
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Check your financial status on the
credit report regular and sort out any errors that might occur on you credit
report;
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Multiple credit cards may result into
confusion. This can lead to missing a payment.
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Avoid too much of debts. Keep your debts
to a balanced limit.
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If you paid an account in full, avoid
closing the account. This account can add to your credit worthiness.
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Bankruptcy can harm your credit score
tremendously. Avoid this option as far as possible.
Money is an essential point in your daily life
and it is crucial to have a good credit score when you plan on buying a home.
By monitoring your financial status and being careful not to misbehave when
paying your every month installments, you can maintain a sound financial status
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High cost of
living, being over indebted or losses of income can worsen the default on
mortgage payments. A short sale deals with the lender when the mortgagor can no
longer keep up with the payments and the outstanding mortgage is higher than
the property market value of the specific area. A short sale must be well
explained for the benefit of the seller and the buyer. This process takes
longer and is not the same as buying a marketable home.
When investing in a short sale thorough
market analyzes and calculations are recommended. The property can be in a
condition where renovations and reconstructions are required or hidden defects
that will impact the repair budget. A contractor is usually of great help to
estimate costs. These costs, together with the cost of maintaining the
property, are an expense one should spread over a reasonable period.
Maintenance, renovations and reconstruction is used to generate sales and can
be seen as an expense. Over capitalizing happens when what one indebted costs
more than the original value of the home.
Each short sale is different and has its
own merits. A lot depends on the lender and on the listing agent. This is a
time consuming process. Banks request a broker price opinion which takes a
while. To convince the bank to accept your offer, the comparable sales have to
support the sales price. The market value is determined by comparable sales of
the same area similar to the home in question and with a similar floor plan.
The expertise of a real estate agent is
essential when buying a short sale property. This is not a process that you
would undertake without being educated, having sufficient knowledge about. For
the best professional assistance we encourage you to contact us.
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To understand “fair market value” one has to look into the
meaning of comparable prices. Comparable
prices are the major factor that determines the market value. When buying a
home in a neighborhood the value is determined by recent sales of homes in the same
area. Houses that are similar in size (floor plan) and with similar rooms e.g.
a dining room, a kitchen, two bathrooms, a lounge and four bedrooms. The most
important factor of the comparable prices is the current market. The market is
found to be able to change over a short period of time. The value of a property
can not be based on historical data.
There are more aspects that can influence the market value
such as the condition and the location of the property. To get an idea of what
to consider, the following list can be of help:
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The proximity to amenities;
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A home with an obstructed view is worth less
than a home with a view of mountains, the ocean or a lake.
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Noise polluted area;
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Is the property situated close to busy roads
where heavy, continues streams of motor vehicle traffic occur;
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The condition of the roof and the exterior of
the house;
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The interior condition of the walls, window
frames, doors, ceiling and plumbing;
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The condition of the electrical compliance;
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The size or square footage of the home;
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The security systems installed;
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A well established garden and swimming pool will
add to the value of the property.
Your Real Estate Agent is fully equipped to calculate the
fair market value of a home. Your agent will guide and assist you to price your
home correctly when selling. When buying a home your Real Estate Agent will
help you to make the right offer.
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If life gives you a hundred reasons to cry, show life
that you have a thousand reasons to smile. Moving away from the place you
called home for so long can be a sad experience. Your financial situation
deteriorated and you are forced to take corrective action. This can be a
positive experience by demonstrating the right attitude. By making decisions in
the right direction, you can become stress free. If your mortgage payment
became a burden and you can no longer keep up with the increase of living
costs, get professional help, guidance and assistance from your real estate
agent.
Definition (Thesaurus) of Foreclosure: to deprive
(a mortgagor) of the right to redeem mortgaged property, as when payments have
not been made and to bar an equity or a right to redeem (a mortgage).
Definition
(Thesaurus) of a Short Sale: occurs when
a property is sold and the lender agrees to accept a discounted payoff, meaning
the lender will release the lien that is secured to the property upon receipt
of less money than is actually owed.
In
the process of foreclosure the bank now owns the property. This is usually
caused by default on mortgage payments and ends up in a forced sale at a public
auction. With short sales,
the bank does not own the property, as is the case with foreclosures. However,
the bank does need to approve the sale since the bank, and not the seller,
incurs a loss on the property (which is usually sold below market value).
According to a cover story
in the Washington Times some time ago Zillow reported that more than one-fifth
of Americans owe more on their mortgage than their home is worth. For
homeowners who can not pay their monthly debts, being underwater is unpleasant
and worrisome. Contact your lender as soon as you recognize you will have a
problem paying your mortgage and continue to pay your mortgage as long as you
can; even partial payments are better than no payment at all. Get in touch with
your Realtor who can do an accurate market analysis and price your home
according to its true market value. A short sale can be a better solution
because the long-term consequences are less painful than a foreclosure
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For first time home buyers the home
market can be confusing and overwhelming under the best conditions. Endless
tips on "not make an offer to purchase too high or too low"; "how to buy"; "how
to sell"; "now is a good time to sell"; "now is a good time to buy";
complicated market indications of current market trends and surveys are
scattered all over the net. To add to this "do" and "do not" list there are
many warnings about crime rates that needs to be investigated and proximity to
amenities that has to be checked. Then there are the different mortgage options
to lead to more confusion, especially for first time home buyers. Trying to
understand all the legal terms when signing documents at the attorney's offices
often adds to this bewilderment. The truth is you do not have to do the market
research and most certainly do not have to stare at graphics that makes no
sense. This saying explains it best: no one can whistle a symphony: it takes an
orchestra to play it.
Real Estate Agents are trained to give
you all information you will require to make an educated decision on buying a
home. They know the area of interest best. Discuss and explain all your
specific needs with your agent.
Real Estate
predictions for 2012:
According to the NAR's chief economist,
Lawrence Yun, the housing market is slowly recovering with a predicted 4%
increase in sales for 2012. Celia Chen of Moody's Analytics projected sales to
increase over 20% in 2012. The next six months will reflect if the rumors about
the possibility of a loss of consumer confidence hold water. Consumer
confidence, as measured by the University of Michigan, has seen modest
improvement in the last few months after taking a dip over the previous months.
A hit in consumer confidence can have an impact on the Real Estate rebound.
Prices are predicted to
decrease through the first two quarters of 2012. Decreased prices will force
more homeowners into a position of negative equity. Being underwater is one of the
reasons that cause people to strategically default on their mortgage payments.
If this continues, there will be an increase in the number of foreclosures and
cause a setback in consumer confidence
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Celebrate Christmas and join us for refreshments,
cooking demonstrations, entertainment and much more! Saturday, December 10th,
2011 from 1:00-4:00 p.m. Admission is free. Open to the public. For additional
details, please contact Kimberly Rais at (970) 674-5517. Contact Information:
Kimberly Rais (970) 674-5517 send an email (read more)
MIL MAC is the advocacy group of the Military Affairs
Committee. Members work on promoting new and expanding missions for the
Cheyenne military. MAC membership is required. Call 638-3388 for more
information. Location: Chamber Offices 2nd Floor Board Room Contact
Information: Dale G. Steenbergendales@cheyennechamber.org (read more)
About Laramie County: Laramie County is located in the
southeast corner of Wyoming and shares a border with Nebraska to the east and
Colorado to the south. It is at the crossroads of two major interstate highways
and two major railroads. Residents enjoy a stable, growing economy, a
high-quality of life, excellent educational system and a low tax structure.
Laramie County ranks first in population and fifteenth in area when compared to
the other twenty-two counties in Wyoming.
Improve the
marketability of your home:
As with structure, making major changes to the
interior of a home can be costly, but there are some cheap projects that can
really change the perceived value and quality of a home. A few weekends spent
on the following projects can not only improve the marketability of your home,
but make it much more enjoyable for you to live in. Look for a house that will
allow you to do most of the following, as one with all of them done already
will probably be selling for a premium:
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Add nice, modern-looking light fixtures
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Add fresh earth-tone paint
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Replace beat-up light switch covers
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Re-finish hardwood floors
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Replace linoleum with tile
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Add a backsplash in the kitchen
Here
are some of the features most people want, but won't be cost effective for you
to add:
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Central air conditioning
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Nice kitchen cabinets (or cabinets that will be
nice when refinished)
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Fireplace
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Garage
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Energy-efficient windows
For expert advice on buying or
selling your home, we encourage you to contact us.
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Financial advisers are all saying that
it makes perfect sense to buy a home now. Trustworthy and educated sources of
information like: Forbes Magazine (The Next Mortgage Crisis); Wall Street
Journal (It's time to buy that house); Market Watch.com (Now might be the best
time ever to buy a home) and JP Morgan Market Insights (Housing: a time to buy)
suggest that now is one of the best times ever in history to buy a home.
Home ownership is better than renting.
According to Zillow.com information provided, the median home price is
$121,700. With a 20% down payment at 4.12% mortgage rate, the monthly
installment is $470 per month. To rent the house could be $1,100 per month.
According to The Federal Reserve's recent "Operation Twist" the average 30-year
mortgage rate hit record lows down to 4.01%. The difference between a 4% rate
and a 5.5% rate on a home of $200,000 is $200 per month and can save a
homeowner about $60,000 on the entire loan for the loan period. Case Shiller
recently announced that real Estate values have returned to 2003 prices. In
2003 a 30 year mortgage stood at 5.88%. Today it stands at 4%. On a home
purchased for $250,000 the difference in monthly costs is: in 2003 an interest rate of 5.88% calculated a
monthly payment of $1,478.84 and today an interest rate of 4.00% calculates a
monthly payment of $1,193.54. You buy the home for the same price today, but
with the cost of $100,000 less.
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Home ownership is better than renting. By owning a home one
invests into the property, so the money that you would normally use towards
rent now goes into ownership. Once you know which home you want to buy, you
should make an offer. Your real estate agent can assist you with the offer.
Factors to consider are: The price should be in line with prices of similar
homes in the area; the condition of the home (will it cost you a substantial
amount of money to refurbish); has the home been on the market for some time
now (the seller may be eager to accept a lower offer); make sure you can afford
the offer. The closer your offer is to the asking price, the more likely your offer
will be accepted. Offers often get rejected. The real estate agent will
negotiate on your behalf.
When families enter into a contract to
buy or sell a house, two things are true:
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The buyer wants to
own the home.
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The seller wants
to sell the home.
In order for both these things to take
place, the transaction must be completed. That is not an easy task in the
current market. The National Association
of Realtors (NAR) released their Existing Homes Sales Report yesterday. In the
report, NAR announced that one out of every three contracts to purchase a home
in October never made it to a closing table.
How does that ratio stack up against previous numbers? Cancellations
have more than quadrupled in the last 14 months! According to NAR, cancellations are caused
by: "declined mortgage applications, failures in loan underwriting from
appraised values coming in below the negotiated price, or other problems
including home inspections and employment losses."
Having someone who truly knows the
market is crucial if you are planning to buy or sell a home. This expert should
know what is happening in real estate, understand why it is happening and be
able to simply and effectively explain each point to you and your family. There can be consequences if you don't have a
true industry professional on your side.
No one can guarantee you won't face
challenges. However, the best agents and mortgage professionals know how to
manage the expectations of all the parties involved thus dramatically
increasing the chances your deal will close and you and your family will be
able to move on with your lives.
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Welcome to the new economy. In the modern world of real estate, words
like "foreclosure" and housing crisis are all too common. You hear
about them every time you turn on the TV. A lot has changed over the last
couple of years. That is exactly why Modern Real Estate Guide created this website - to provide current real estate information
for home buyers and sellers.
To understand something about Real Estate when you want to buy or sell a
home, can be overwhelming. On this website, you will find modern real estate
advice to help you make sense of the current housing market. They tackle the
tough questions that consumers are asking these days: What kind of credit score
do you need to buy a home these days? Which types of mortgage loans is the
safest option these days? How can you avoid becoming another foreclosure
statistic down the road? How can you reduce your debt to increase your chances
of getting a mortgage loan?
You'll find answers to these questions and more as you travel throughout
this website. Whether you're buying a home, selling a home, or just trying to
improve your financial situation, the real estate tips and financial advice
collected here will help you succeed.
Helpful Real Estate Tools: In addition to the real estate information
and advice provided through this site, you'll also find a variety of helpful
real estate and financial tools. For example, you can use the convenient
web-based tools provided below to order your credit information, get mortgage quotes and more.
A great Realtor is reputable, honest,
transparent and reliable and acquires an overall positive friendly attitude.
Here we hold these qualities in high regard and encourage you to contact us
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Mark your calendar for the 26th of November 2011: This is the event not to
miss! Cheyenne Christmas Parade begins at 5pm at Carey Ave and 17th.
Ends at the Depot on Capitol Avenue (approximately 1.5 hours) Christmas tree Lighting Ceremony with
Santa and the Mayor, Plus Awesome Music and an Entertainment Surprise! Directly
after the parade: Santa and
Mayor Kaysen will be there! Bring your
cameras.... This will be a time to remember!
Where can you find the perfect Christmas
tree?
Murdoch's
Ranch & Homes Supply 3773 East Lincoln way, Cheyenne,
WY 82001
River
Bend Nursery & Landscaping 8908 Yellowstone Road, Cheyenne,
WY 82009-1130
Real Estate
Agents are trained to give you all information you will require to make an
educated decision on buying a home. We know the area of interest best. Discuss
and explain all your specific needs with us.
This is a good
time to buy a home:
A matter of
interest: the Mortgage Bankers Association forecasts mortgage rates will be
close to 6 percent by the end of 2012. Home prices can decrease, but with
increased mortgage rates the mortgagor can pay more for a home. Jed Smith (managing director of quantitative
research for the National Association of Realtors) said: "In terms of
affordability, now is definitely a good time. Prices are fairly low and
interest rates are hovering at historic lows. Real Estate is very local. It is
not just a question of state or city, but ZIP code." The best option is to
obtain assistance from our professional Real Estate agents who are
knowledgeable in regards to the specific area.
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Typically
spring and summer are the active months for selling your home. It shows the
best with all the plants and trees in full bloom and really showcases your
landscape. Getting into late fall and winter is a whole new game. Those lush
beautiful trees are bare, the plants have all turned brown and the grass is
just dried out and brown. Here
are some thoughts, tips and recommendations for Selling in the Off-Season:
For
Thought:
- Chances are that folks who are
looking in this time-frame are serious buyers.
- Less competition during this
time. There are fewer homes on the market.
- Tech Savvy Buyers are on the
lookout for homes year-round
- New Tech-Tools allow the buyer
to receive emails automatically when new homes go on the market. Yours could be
one of them!!
To
Help:
- Provide summer photos of your
home as well so buyers can see the full picture.
- Decorate inside for the
seasons (autumn - winter).
- Take the time you used to
spend outside and ORGANIZE for maximum appeal.
- Showcase winter warmth with a
fire, scented candles and warm decorations.
When
it snows:
- Be sure you shovel all walks
and paths
- De-ice paths and the driveway
- Plow or snow blow the entire
driveway to showcase the amount of parking space available
- Make sure outside lights work.
We care about you. With the Festive Season
around the corner: please drive safely. A road tip to our readers who sometimes
have to drive during bad weather conditions:
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Make sure you
can see.Replace windshield
wiper blades. Clean the inside of your windows thoroughly. Apply a
water-shedding material (such as Rain-X) to the outside of all windows,
including the mirrors. Make sure your windshield washer system works and is
full of an anti-icing fluid. Drain older fluid by running the washers until new
fluid appears: Switching fluid colors makes this easy.
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If you are among the millions of Americans who are
drowning in credit card debt or facing foreclosure, there is one thing you need
to know.....there is light at the end of the tunnel. You can rebuild you credit
and get back on your feet!
Newspapers, radio, TV and the internet are filled
with ads that promise to erase all negative information in your credit
report in exchange, of course, for a fee. Companies, marketers, attorney
affiliated individuals, attorneys, books, etc., boast about their savvy or
legal credit repair services.
However, the truth is the scam artists who run
these ads not only don't deliver, they can't deliver. Moreover, the law prohibits credit repair
companies from charging up-front fees before performing the promised services.
Credit repair companies normally advertise
something like: "We work with
specialized companies that will repair your credit" "We can increase your
credit score in 30 days - guaranteed!"
"Credit problems? No
problem!"
"We can erase your
bad credit - 100% guaranteed"
"Create a new credit
identity - Legally"
"We can remove
bankruptcies, judgments, liens, and bad loans from your credit file forever!"
Once you contact them, they normally:
Want you to pay for
their credit repair services before any services are rendered (under the
"Credit Repair Organization Act", a credit repair company cannot charge you
until they have completed the promised services)
Don't tell you your
legal rights and what you can do yourself - for free
Suggest that you
try to invent a "new" credit report by applying for an Employer
Identification Number (EIN) instead of your Social Security Number (SSN)
Advice you to dispute
all negative information in your credit report
Regardless of what these individuals tell
you, it is a federal crime to make
false statements on a loan or credit application, to misrepresent your
SSN, and to obtain an EIN from the IRS under false
pretenses. If you follow illegal advice and commit fraud, you may be subject to
prosecution. You could be charged and prosecuted for mail or wire fraud.
So, you can do either one of two
things: you can throw away your money and be scammed by a credit repair company or you can learn how to repair your own credit.
Understand, however, raising your credit score is a bit like losing weight.
Only time, a deliberate effort, a plan to repay your bills, and the steps shown
here will improve your credit. There are no quick fixes. In fact, quick-fixes offered by credit repair
companies can backfire.
CREDIT
REPORT vs. CREDIT SCORE:
Although many people often
interchange these terms, credit reports and credit scores are not the same
thing:
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Credit report:It shows a
detailed description of your credit history including your identification,
employment information, open and closed accounts, existing debts you need to
satisfy, accounts in positive and negative standing, inquiries, public records
(e.g.: bankruptcies, foreclosures, tax liens, etc) and more.
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Credit Score:It is the
actual number calculated from your credit history. Your credit score is your
financial GPA. The details from your credit report are used as data points in a
mathematical equation; the resulting score is primarily used to help lenders
determine how much interest to charge you.
USING YOUR CREDIT SCORE:
The higher your credit score is; the more
financially responsible you appear to lenders; thus, making you eligible for a
low interest rate.
Moreover, credit reporting companies also sell the information in
your report to insurance companies, employers, and other businesses with a
legitimate need for it. For example, employers can use the information to
evaluate your application employment or a promotion; a landlord can use it to
consider you as a tenant; and insurance companies can use it to determine on
what terms they will approve your insurance policy.
As you can see, a good credit score is very
important to get ahead in life but be cautious not to let the obsession of
always having a high credit score ruin your life.
We care about you. To all our readers and clients
who need to drive in bad weather conditions:
- Drive slowly. Everything takes
longer on snow-covered roads. Accelerating, stopping, and turning -
nothing happens as quickly as on dry pavement. Give yourself time to
maneuver by driving slowly.
- The normal dry pavement following
distance of three to four seconds should be increased to eight
to ten seconds. This increased margin of safety will provide the longer
distance needed if you have to stop.
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