Realty Vision


Posted by Realty Vision on 3/29/2018

Your credit score impacts many of your important life decisions. From your ability to open new credit cards, to taking out loans for cars and houses, your credit will be checked by many companies throughout your life. Credit scores are mostly a mystery to the people who have them. Sure, you can check your credit score for free online, but when it comes to understanding your score, most consumers are in the dark. In a perfect world, we would be taught in high school and college exactly what goes into your credit score, how to build credit, and how to avoid credit missteps. Unfortunately, we don't live in that world and many of us don't find out what makes up a credit score until we're in debt from student loans or credit cards. In this article, †we'll†teach you what a credit score is, what it consists of, and how it is affected by your financial decisions. And, we'll do it in an easy-to-understand way that skips all of the jargon and acronyms that are used by banks and lenders. Read on to learn everything you need to know about your credit score.

What is a credit score?

Simply put, your credit score tells lenders how safe it is to lend money to you, i.e., the likeliness of you paying back your debt to them. In the United States, credit scores are awarded by three major companies. Since they use slightly different methods of scoring your credit, your score can vary slightly between them. What they all have in common, however, is that they put together your score based on your financial history (or lack thereof). How do they come about your score?

Parts of a credit score

Think of an Olympic diver who just took a perfect dive. The judges off to the side are going to score her on a few different factors: her approach, her flight, and her entry into the water. They'll award her a number based on her dive and then those numbers are averaged to give her a score. Credit is scored in a similar way. You aren't judged just based on your payments or just based on how long you've had a credit card. Rather, you're judged based on a combination of five main things. For your FICO score (the score used by the majority of banks and lenders) those are:
  • 35% - payment history
  • 30% - current debt
  • 15% -†how long you've had credit
  • 10% - types of credit
  • 10% - new credit
As you can see, the most important factors that make up your credit score revolve around how much you owe and if you pay your bills on time. Having high amounts of debt or credit cards that are maxed out (meaning you hit the spending limit), your score can be lowered. Similarly, your score can be lowered every time you miss a bill payment. However, if you do miss a payment and your score is lowered, it can be recovered by making on-time payments. Your credit score is also influenced by the length of your credit history (15%): when you opened your first credit card or took out your first loan. The longer you've been making on-time payments†the better. The last two factors that make up your score are the types of credit you have (10%) and new credit (10%). Having many different types of credit (home loan, credit card, student loan, auto loan, etc.) will improve your score so long as you're making on-time payments. However, opening up new credit rapidly is a red flag for lenders that you might be in financial trouble, hurting your score.    




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Posted by Realty Vision on 3/22/2018

Getting a mortgage is one of those things that everyone seems to have quite a bit of advice about. While people surely have good intentions, itís not always best to take the buying advice of everyone you meet. Below, youíll find the wrong kind of mortgage advice and why you should think twice about it. 


Pre-Approvals Are Pointless


Getting pre-approved for a mortgage can give you an upper hand when it comes to putting in offers on a home. Even though a pre-approval isnít a guarantee, itís a good step. It shows that youíre a serious buyer and locks you in with a lender so they can process your paperwork a bit more quickly when you do want to put an offer in on a home. 


Use Your Own Bank


While your own bank may be a good place to start when it comes to buying a home, you donít need to get your mortgage from the place where you already have an account. You need to compare rates at different banks to make sure youíre getting the best possible deal on a mortgage. Youíll also want to check on the mortgage requirements for each bank. Different banks have different standards based on down payment, credit scores and more. Youíll want to get your mortgage from the bank thatís right for you and your own situation. 


The Lowest Interest Rate Is Best


While this could be true, itís not set in stone. A bank with a slightly higher interest rate could offer you some benefits that you otherwise might not have. If you have a lower credit score, or less downpayment money, a bank offering a higher interest rate could be a better option for you. Low interest rates can have some fine print that might end up costing you a lot more in the long term. Do your research before you sign on with any kind of bank for your mortgage. 


Borrow The Maximum


Just because youíre approved for a certain amount of mortgage doesnít mean that you need to max out your budget. Itís always best to have a bit of a financial cushion for yourself to keep your budget from being extremely tight. When life throws you a curveball like unexpected medical bills or a job loss, youíll be glad that you didnít strain your budget to the end of your means. Even though the bigger, nicer house always looks more attractive, youíre better off financially if youíre sensible about the amount of money you borrow to buy a home.




Tags: mortgage rates   Mortgage   bank  
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Posted by Realty Vision on 3/15/2018

If you recently bought or sold a house, you likely will need to pack up your electronics and transport them to a new location in the near future. As such, it is important to pack your electronics correctly to reduce the risk of damage.

Now, let's take a look at three best practices for packing electronics.

1. Follow the Manufacturer's Instructions

In many instances, electronics manufacturers will offer tips and recommendations that you can use to pack your video game consoles, TVs and other electronics properly. Review any electronics product manuals at your disposal, and you can gain deep insights into how to pack these items.

If you lost an electronics product manual, there is no need to worry. Most manufacturers will post information on their respective websites about how to pack various electronics. Or, you can always contact the manufacturer directly or consult with an electronics retailer.

In addition, if you still have the original electronics box, you may want to use this box on moving day. The original box is the perfect size for your electronics, and as a result, will make it simple for you to pack and store your electronics safely until you complete your move.

2. Pick Up the Right Packing Materials

Tape, bubble wrap and other packing materials are essential, particularly for those who want to protect their electronics.

Visit a local convenience store or supermarket to pick up a wide range of packing materials. By doing so, you can purchase the packing items you need to properly secure your electronics.

Furthermore, if you need moving boxes for your electronics, a convenience store or supermarket may be able to help you out. Contact local convenience stores and supermarkets, and these businesses may be able to supply you with free boxes that they no longer need to store a variety of electronics.

3. Proceed with Caution

Most electronics consist of glass and other sensitive materials, so you'll want to do everything possible to protect these items.

It usually helps to wrap electronics in moving pads, sheets or light blankets. You also should wrap electronics in linen or clean paper to minimize the risk of dust damage.

For those who want expert help with packing electronics, you may want to hire a professional moving company. With this business at your disposal, you can receive comprehensive assistance as you prepare your electronics and other belongings for moving day.

Lastly, if you need extra help as you search for a moving company or try to buy or sell a house, you should work with a real estate agent.

Real estate agents are available in cities and towns nationwide. These housing market professionals can connect you with local moving experts, along with provide plenty of support throughout the homebuying or home selling process.

Ready to pack up your electronics? Use the aforementioned best practices, and you can keep your electronics safe as you get ready to relocate to a new address.




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Posted by Realty Vision on 3/8/2018

As a seller, you want to make the right improvements to allow your home to sell fast and at a good price. Many sellers end up making unnecessary improvements to their homes in an effort to sell. Itís important to know what improvements will actually make a difference in how your home is sold. Read on for more tips. 


What Do Buyers Expect


This is a broad question because it depends on a variety of factors. First, a buyers expectations dictates what theyíre looking for. Is a buyer looking for a fixer upper or does the buyer want a move-in ready house? What buyers see also greatly depends on a few factors including the time of year, the location of the home, how hot the market is, and how much inventory is available. Your home will sell based on what kind of real estate market climate itís in.       



Refresh Your Flooring


Buyers see the floors as soon as they get in the door of a home. Itís what either adds to or detracts from the house. Old creaky floors certainly wonít add to the appeal of your home. Itís one less thing a buyer will have to worry about before they move into a house, making it a great improvement. 


Carpets


In the same realm as flooring, you should be aware of the quality of your carpets. Do they need to be ripped up? Should you have your carpets professionally cleaned? If you have simple carpets over hardwood floors, this isnít much of a concern. Wall-to-wall carpeting is where this is a major concern. 


Upgrade Appliances


Upgrading your appliances will always be worth your investment. Buyers love to know that a home is equipped with exactly what they need and ready for them when they move in. No one wants to buy a home knowing that the dishwasher or oven may need to be replaced at any moment. 


Refresh The Walls And Ceilings


Putting a new coat of paint on your walls and ceilings will be very attractive to buyers. You want to avoid buyers seeing things like smoke and grease stains. The wear and tear of everyday living can cause scuffs and scratches to occur on the walls. Fresh paint can really help to fix these cosmetic details.


The same thought process applies when it comes to wallpaper. If your wallpaper is old and tired, you may want to take it down and either replace it or paint the walls. Steering away from wallpaper may be the best practice, but if you canít avoid it at least replace it. 


Remember that buyers want to see themselves in the home. Personal style touches usually arenít the best way to go when it comes to prepping your home. The more neutral and basic the changes you make, the better. 






Posted by Realty Vision on 3/1/2018

Your bathroom can quickly become one of the dirtiest places in the house even after a deep clean. Knowing the most important places to focus on in the bathroom can make or break the appearance of your bathroom. Read on for some tips to help keep your bathroom spic and span. 


Toothpaste Causes Gunk And Build Up


You donĎt want toothpaste gunk to get ahead of you. Use all-purpose cleaners to quickly wipe away any toothpaste. Use baking soda or some other kind of abrasive cleaner to get up any stubborn toothpaste that wonít come up. Remember not to use abrasive cleaners on any surfaces that may scratch easily.


Keep The Toilet Tidy


The toilet is one of the more difficult areas of your home to clean. Keep ahead of the dirt in the toilet by spraying the bowl down with an all purpose cleaner or vinegar and water. The bowl can be sanitized easily with 1/4 cup of bleach or commercial toilet cleaner.


The Shower: Where You Get Clean


You need to get your shower in good shape so you feel clean once you get out of the shower. A gunky shower head can cause hard water due to lime build up. Attach a bag of vinegar over the shower head with a rubber band. Leave it on the shower head for 1 hour. Then, turn the shower on to flush with water. 


In the tub, make a baking soda and vinegar paste, or use an all-purpose cleaner to remove soap scum and grime. Any rust stains can be removed with a stain-fighting cleaner.  


Surface Clean Up


The different surfaces of your bathroom require different cleaning methods. For most surfaces, a damp mop will suffice to start. Many cleaning products can scratch or ruin certain materials so it is always best to err on the side of caution. A mild detergent can be used to help get rid of any dirt and grime on most surfaces. 


Marble and granite can be vacuumed first to remove any debris. You shouldnít use any sort of wax or acidic product to clean these types of stone. 


Tile can be wiped with mild detergents and flushed down with water. You want to avoid using any harsh cleaning products that can ruin the tile. Wax and polish are no-gos on tile surfaces.


The best way to keep your bathroom clean is to do frequent quick cleanings. You donít want to wait for dirt and grime to build up before you bother taking the time to tidy up the area.     

                 




Tags: bathroom   cleaning  
Categories: Uncategorized  




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