In these unique, uncertain market conditions, determining the optimum time for the sale of your home can be a confusing task, particularly as the prime selling season of spring and summer wanes. But consider these points if you are thinking of listing your home in the next 30 days:
1. Buyers looking for a home during the winter/holidays are generally more serious in their searches. Often these buyers have a very specific time frame and objective so their motivation is high.
2. The inventory of homes generally declines during the latter part of the year so there could be less competition for your home.
3. By selling now, a seller has the opportunity to be a non-contingent buyer during the spring when the inventory traditionally grows.
4. Some buyers have time constraints and will be highly motivated to purchase before the year’s end.
5. Buyers may have a break from work during the holidays and, consequently, may have more time to shop and preview homes.
6. Holiday decorations can make homes more appealing and attractive.
7. Because of the holidays, you can still be on the market but have the option to restrict showings during the peak holiday times.
No matter what time frame you may choose to list your home, be sure to consult with a qualified Intero Realtor to get sound counseling and advice.
Attention all buyers and in particular, first time buyers: Your credit score(s) and credit history will be a significant factor in your home-buying process. Here are some tips to improving your credit and keeping it healthy:
- Pay your debt on time
- Make all your payments on time
- Bring your delinquent accounts current as soon as possible
- Pay your bills before they go to a collection agency
- TIP FOR FIRST TIME BUYERS: Check your credit report for accuracy on a regular basis
- Know your credit history:Check your credit history free of charge once a year (in a 12-month period). Order your free annual credit reports by phone at (877) 322-8228 or online at www.annualcreditreport.com
- Do not close your credit accounts unless absolutely necessary.
- Think twice about jumping on that latest 0% credit card offer.
- TIP FOR FIRST TIME BUYERS: if you don’t have much of a credit history, and you are planning on taking out a mortgage in the future, it would be a good idea to establish a few open credit lines with little or no balance. Although new accounts tend to lower your scores initially, they will improve your score once they have been opened for awhile, somewhat active and paid off with little or no balance.
- Keep your credit balances below 50% of the available credit limit. Keeping your credit balances below 50% of your available limit is very important. Keeping your balances below 30% of your available credit is even better. This is perhaps the single most misunderstood part of credit scoring.
- TIP FOR FIRST TIME BUYERS: Do not close your credit accounts unless it is necessary to do so. It is better to have many open accounts with little or no balance than to have just one or two accounts regardless of the balance.
- Do not concentrate large balances on just a few accounts.
- Call your credit card companies and try to increase your available credit lines if they can do so without pulling a new credit report.
- Longevity in credit improves your scores. The longer your accounts have been opened the higher your score. Here are some good tips for improving credit history:
- Having 3-5 revolving credit cards open is optimal.
- TIP FOR FIRST TIME BUYERS: Having a good mix of auto loans, and credit cards is positive for your score, rather than having a concentration in credit cards only.
- Keep the inquires on your credit down.
- TIP FOR FIRST TIME BUYERS: Multiple auto and mortgage inquiries are treated as only one inquiry if made within 45 days of each other. So, it is better to shop for a car or a mortgage over a two week time-frame, rather than to prolong it over a longertimeframe.
- Don’t apply for a lot of credit or open multiple credit cards at the same time.
- TIP FOR FIRST TIME BUYERS: If you are thinking of applying for a mortgage within the next 90 days or so, it would be good to wait until after your mortgage closes before you apply for any new credit.
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