Do’s…….

• Pay your bills on time. Delinquent payments and collections have a negative impact on credit history.

• Bring missing payments current, and stay current. Credit history improves the longer the payment history reports a current status.

• Maintain low balances on credit cards and other revolving credit. High balances can affect credit history.

• Pay off debt rather than moving it between financial institutions.

• Build new credit history following debt problems. Open new accounts responsibly and pay them off on time.

Don’ts……

·        Establish unnecessary credit accounts with retailers for short-term discounts or rebates.

·        Open new credit just to increase available credit. This approach could backfire and actually weaken your credit history.

·        Open multiple new accounts if you have been managing debt for a short period of time. New accounts will lower the average account age. Rapid account build-up, coupled with a short credit history, may be seen as risky to a credit provider.

·        Submit frequent credit applications. Even the act of applying may cause a creditor concern.

The best advice is to manage credit responsibly over time. Your credit history will begin to improve as the overall credit picture gets better.

Here is a snap shot of the mortgage changes for the week of August 24th, 2006.

August 24th, 2006 mortgage update

Check out the predictions for this week!!

August 21st mortgage update.

Seller’s agent, buyer’s agent, dual agent- who is representing you?? Did you know that in a licensed real estate agent can represent a client three different ways? It is very important that you know how you are being represented and that your interest is the same interest as your agent. Let me explain….The duties of a seller’s agent is to be loyal to the seller, to advise the seller that protect his/her interest, not to disclose confidential information from or about the seller, and take no action that is adverse or detrimental to the seller’s interest in a transaction.   The duties of the buyer’s agent are very similar, to be loyal to the buyer,  advise the buyer that will protect his/her interest, not to disclose confidential information from or about the buyer and take no action that is adverse or detrimental to the buyer’s interest in a transaction. Finally we have the duties of a dual agent, to take no action that is adverse or detriment to either party, to advise both parties that will protect their interest, not to disclose confidential information from or about either party, and take no action that is adverse to either party.

Obviously the duties of a dual agent are ones for all parties to be aware of. To be loyal to neither party but advise/represent both parties?? When the time comes for you to buy or sell real estate know how you are being represented.

You only get one chance to make a first impression – and today’s tech-savvy buyer will likely get their first impression of your home from the photographs they view on the internet. One of the ways to create a positive visual impact via digital media is by having your home professionally staged before you photograph it. This will help with both the online media and also with the actual viewing of your home in person by potential buyers. I like to offer this service to my clients free of charge. Virtual tours, another popular form of online media, will also help to make a lasting first impression. From the comfort of their own home, a buyer can take a virtual walking tour of your home, helping them understand things like the flow of the rooms and get a feel for the spaces. Once you’ve made that first positive impression and a buyer now wants to see your home in person, its really time to sharpen the impact. You can accomplish this by appealing to the senses…how does your home feel, look, sound, and smell?

Let’s start with the look – namely, street appeal. What will a buyer think when they see your home from their car for the first time? Often times they will carry that first impression with them into the home. Does your home look well cared for? Will your home impress their family and friends?

Next, what feeling does your home convey? Will your buyer feel cramped or do the rooms feel spacious? Will your home give your buyer a feeling that “they’ve arrived”? What about privacy and comfort?

Additionally, the odor or aroma of a home is crucial. Any pet, smoke, mildew, or even strong air fresheners are a big turn-off! The aroma of fresh flowers, cookies, or lightly scented candles can help.

Finally, what will your buyer hear? Sounds, such as natural noises made by birds or water flowing outside, light music, or even simple quiet make great first impressions. Road noise, construction noise, city noise, or noise from neighbors can be a detriment.

All of this seems so simple, but is so often overlooked – and in a slower real estate market, can often be the buyer’s deciding factor in making a purchase decision. So make sure you are getting what you deserve from your real estate agent when it comes to making your home’s first impression.

We have finally received a break! Take a look at what the experts are saying.

August 14th mortgage update

The real estate market update for the month of July 2006. Numbers still show a "buyers" market with a shortage of inventory but buyer activity has decreased. 

July06.pdf

Courtesy of First Horizon here is your weekly mortgage update for the week of August 7th, 2006.

Mortgage Rate Update