HOPE...

I was reminded today by a dear friend about why I love selling real estate so much...it's my opportunity to make a difference in someone's life each and every day by how I act/react to their wants and needs in the real estate department!  I am reading Dave Ramsey's new book, EntreLeadership (have you read it?) and he says that HOPE is the core goal of everything he does.  When  he ships a book, he's creating HOPE to help someone get out of debt; when he sells a ticket to one of his events, he's selling HOPE to someone needing to hear what he has to say.  I've long thought that there's too many naysayers in this business...let alone life.  My purpose in this crazy economic real estate climate may just be to create HOPE with those that I work with.  That their house, which is for sale, will find favor with just the right buyer out there...Godly favor. God is no respector of persons; in spite of the economy, our office has been extremely blessed this year.  I've met lots of sellers out there whose agent simply didn't know what to tell them.  They've told them that "nobody's buying."  Well, that's just not true... 

Buyers today ARE more selective than they were, say, 5 years ago.  They are looking at all their choices in the market.  Wouldn't you?  They want to get the best deal out there.  Wouldn't you?  They want the most updates for the least price.  Wouldn't you?  If you're selling or thinking about selling, you need to think from this perspective.  What can I do to de-clutter my house?  To give it a fresh, clean look?  As Realtors, we can give you advise of where to focus your attention to get the most bang for the buck.  Just ask, we're glad to help.  

We need to articulate HOPE.  Life is good.

How to polish up and improve your credit score to take advantage of the real estate buyers' market.

With the economy and job market just coming out of a "down" period, a large percentage of the population is concerned and wondering how less-than-perfect credit scores might affect their ability to take advantage of the current buyers' market in purchasing a home.

In order to know what you need to do to position yourself favorably, you need to understand the different components making up the big picture that is your credit score. Here are the key components, with the percentages that each component contributes to your total credit scoring and a tip on how to improve each one:

•Payment history contributes 35% to your credit score: Make sure to obtain and analyze your credit report yearly. You can get a free copy of your report once a year. Look to make sure that the information is accurate. If you find errors, dispute them until they are corrected or removed from your credit history. If you’ve had a significant hardship such as bankruptcy, make sure that accounts that were involved are showing as paid accounts.
•Amount of debt that you owe contributes 30% to your credit score: Control the amounts that you charge to your credit cards to less than 30% of the total amount of credit available for each card. Paying down the card or cards that are the closest to their limits is a great strategy for increasing your score. Use the free services and tools that some credit card companies offer, like text or e-mail alerts, to track and control your card balances.
•Length of time in credit history contributes 15% to your credit score: If you have an old credit account that you’ve paid off and don’t use, consider using it to pay for a monthly "necessity expense" to keep an aged account active. Active accounts are considered above inactive accounts for scoring purposes, so if you need to use a card, use the ones that you’ve had the longest and then, if possible, pay the balance off at the end of each month.
•Recent credit history contributes 10% to your credit score: Refrain from opening new accounts or from consolidating debt from several cards to one card. Generally speaking, lower balances on a number of cards are better than a much larger balance on just one. And, of course, it goes without saying, paying your bill on time is critical. Just one late payment can have a significant negative effect on your score. If you’ve had major issues with your finances, such as a bankruptcy, opening a new credit account and managing it well and paying on time will help you re-establish a good credit history.
•Number of types of credit being used contributes 10% to your credit score: Again, stating the obvious, don’t open new credit accounts for anything but necessities. Before using credit for purchases or opening new credit, always do a self check to ask yourself, “Is this a want or a need?” Use the answer to that question to guide you into making better financial choices and decisions.
Be persistant and consistant! The accumulation of making better decisions and establishing better financial habits will ultimately lead to higher credit scores. Higher credit scores will lead to significant savings, as a result of qualifying for better interest rates, when it comes to obtaining a mortgage for your new home.

Have your own observation or tip for scoring better credit? Tell us in the comments.