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Results For Tag: real estate

Increase Your Credit Score

July 30, 2013 |  Article By :   | 

mortgage appIf you are considering purchasing a home, you will want to have a good credit score. The better your credit score, the better chance you have of qualifying for a mortgage and it may help you get a better interest rate. Credit scores can range from not having one at all up to 850. Below is a rundown of what figures into your credit score. By making sure you are doing what credit reports check, you can increase your credit score.

  • About 35% of your credit score is based on your payment history. Pretty simple really, you get a bill, you pay it on time your score goes up, you pay it late, your score goes down.
  • Another 30% or so of your score is based on your credit utilization. Are you paying down your debt? Is your credit maxed out? Keep you debt to a minimum, pay it down and don’t use all the credit you have available in order to increase your credit score.
  • Some 15% of your score is based on how long your credit history is. The longer you have been paying your bills on time the better.
  • Around 10% is based on using different types of credit. A mortgage, a revolving credit card, a personal loan are all good as long as you pay on time and are paying down the balance.
  • The last 10% is based on report requests. If you are opening up a lot of accounts or purchasing a lot of items that require a credit check in a short time period this will negatively impact your credit score.

What is a good credit score? In general 680-720 is good, over 720 is excellent. Anything much under 600 may keep you from qualifying for a mortgage. If you have a very low score you may want to speak with a banking professional for assistance in repairing your credit.

RE/MAX Is Number One

July 26, 2013 |  Article By :   | 

New survey results prove what you knew from experience, and what your prospective clients need to hear: When asked to name real estate brands, more buyers and sellers think of RE/MAX than any other brand in the U.S. and Canada.

And there’s more: RE/MAX is the brand they think of first.

These are the findings of a third-party survey of U.S. and Canadian homebuyers and sellers completed in March for RE/MAX, LLC.

In the survey’s “aided awareness” results, nearly 90 percent of U.S. respondents recognized RE/MAX when they read a list of real estate brand names. In Canada, the percentage was even stronger at nearly 97 percent.

But the ultimate test of a brand’s strength is “unaided awareness,” when respondents are asked to name companies without being presented with a list of names. In this portion of the survey, RE/MAX was mentioned more than any other real estate brand. RE/MAX also was the brand most often mentioned first – giving it the highest top-of-mind awareness in both the U.S. and Canada.

The phone survey was conducted between November 2012 and March 2013 by MMR Strategy Group. Respondents included recent homebuyers, sellers and those who intended to buy or sell a home. In the U.S., the sample size was in excess of 2,500. A similar methodology was used in Canada with a sample size of more than 600. In both countries, the results were statistically significant to a 95-percent confidence level.

***This information is provided by Remax.net.

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July 2013 Monthly Skinny

July 25, 2013 |  Article By :   | 

Where has the Twin Cities Real Estate Market been and where is it headed. Take a look at the July monthly skinny for a summary of trends and projections for the real estate market in the Twin Cities.

Market Statistics

July 18, 2013 |  Article By :   | 

The Minneapolis Area Association of Realtors has just released the market statistics for the Twin Cities for the week ending July 6.

In the Twin Cities region, for the week ending July 6:

  • New Listings increased 14.3% to 1,105
  • Pending Sales increased 5.7% to 912
  • Inventory decreased 16.4% to 15,249

As always, double click on the image for a larger version.