Organizing Your Home – A Great Pre-Selling Idea To Start Now!

If you are one of the many people staying in your home longer than planned due to the current state of the housing market, now is the time to organize your home! If you are planning on moving down the road, getting organized now will make your move smoother, and less stressful on you and your family. Not only will your hard work be appreciated when you choose to move, but people who have organized homes save time and money, and enjoy being less stressed and frustrated. This is easy to understand if you are the unorganized individual always looking for items around your home because you can’t quite remember where you last placed them, and they never seem to be where they are suppose to be!

Wouldn’t it be great to know where all your items are, and to be able to cut the clutter by eliminating items no longer needed? Not only will every day life get a little easier, but come moving day, you will also appreciate your hard work. Transforming your home into a less cluttered, clean environment will be very satisfying when looking back over all you accomplished. The hard part for most people is throwing out, giving away, or selling items no longer needed, or not being used at all. The common thoughts we all have of someday needing those items we know we should throw out, somehow transfers those exact items back in our closets for that one day, years away, we may need it – frustrating!

You can always give this home improvement a try on your own, or turn it into a family project. Either way, it will make you feel a good sense of accomplishment knowing your home is more organized and clean – plus you’ll get a little exercise in the meantime! Also, as an added bonus, if you’ve found items you decide you can part with in the end, try a rummage sale or consignment shop to gain some extra money, or giving those items away to friends, family, co-workers, or the less fortunate, adding an additional good deed to your feat.

Organizing your home will give you a feeling of accomplishment you won’t get from most daily activities. If you find the need to organize your home, but can’t find the time, consider hiring it out. There are many businesses that specialize in organizational tools and ideas to help you get this done – some even personally organize your home for you! Either way, the next time you go to find linen used once a year, or that handy gadget you received from your cousin on your last birthday, at least you will be able to find it . . . . let’s just hope it’s not the one item you chose to give away!

CREDIT SCORES – DO YOU REALLY KNOW WHAT THEY MEAN?

We always hear we need to have good credit scores. So, what exactly is a good credit score and how do you make sure you have a good score yourself? Here you will find some tips, because what you don’t know could hurt you.

Credit scores are produced from the three main Credit Bureaus – each Bureau will give you their own credit score. These Bureaus are Experian, Equifax and Transunion. Your credit score can be easily understood as a numeric grade given to you based on your personal ability to repay a debt, or your creditworthiness. It identifies your ability to repay debt on time, pay debt off completely, not over-extending your credit limits and making sure your report with each Bureau is complete and accurate.

You can purchase your credit report directly from each credit bureau to overlook the information, make sure it is accurate, and dispute any errors you find. You can also get a free copy of your report annually at www.annualcreditreport.com, however, your score will not be disclosed, only the items being reported. This can become important when trying to re-establish credit after things such as Bankruptcies. All these website addresses are listed below for your convenience.

Credit scores are often misunderstood in that consumers believe they have a lot to do with income, amount of debt, or age. None of these factors play a role in your credit score, as it is completely derived from how well, or how poorly, you pay back your debt. These scores will determine what interest rates you will be charged in the future for things such as mortgages, car loans and even credit cards. Your credit score also affects your insurance premiums for things like your home, car, truck, boat, motorcycle, etc.

A good credit score can easily save you thousands of dollars a year. It is important to know what your credit report discloses and make it a priority to check it at least once a year. Stay on top of your debt and make your payments as agreed when you took out your debt originally. Careless behavior when it comes to your debt will be disclosed on your credit report. You hold the key to not having to pay more than the market rate by keeping your credit score high and monitoring your reports regularly. When it comes to your credit report, ignoring it won’t make it go away, and you can’t run from it either. As time consuming as it is to fix it if it needs repair, you need to start now. It can be just as hard to maintain it . . . but either way, your hard work will all be worth it in the end. Â

The Three Credit Bureaus:

www.experian.com

www.equifax.com

www.transunion.com

To Receive Your Free Annual Credit Report:

www.annualcreditreport.com

FHA’s New $7,500 Federal Tax Credit For First Time Home Buyers – Good Or Bad?

With the passing of the new Omnibus Housing Bill recently, first time home buyers that purchased a home using an FHA Mortgage are now eligible for a tax credit of up to $7,500. However, there have been some misconceptions when reviewing this credit and home buyers are being mislead.

Some of the common parts of this bill that are overlooked follow here. The $7,500 is a maximum credit for those who file jointly. This $7,500 again is a maximum, but will be determined exactly at 10% of the purchase price of your new home. If you file single, the maximum credit is only $3,750. Also, this credit is not in all respects a credit, as it is a dollar for dollar reduction in what the tax payer owes. It is also repayable to the government at $500 per year over the next 15 years, or when the home sells. To receive this credit at all you need to have been a first time home buyer, defined as a buyer that has not owned a home in the last three years – and also applies to any co-borrowers on the loan. Some further information that seems to be left out is that the head-of-household need to have adjusted gross income of $75,000 or less to receive the credit. If you file jointly, you need to be at $150,000 or less.

If you look at this credit in depth and from all perspectives, it doesn’t seem as great of a deal as the government and other would like to lead these first time home buyers to believe. In the midst of a struggling economy and housing markets in most areas trying to correct themselves from the problems they have endured, you would think the government could come up with something better for first time home buyers. Instead they came up with this “credit” and take away down payment assistance programs.

Current home values, for your home!

The number one question that I hear from people right now is “How is the market doing here?”  I know that it isn’t doing horrible.  Home are selling, buyers are buying, and properties are moving, all contradictory to the local media reports.  Now I can talk until I’m blue-in-the-face about what is happening and what the home values are.  But, what is it going to help?

We live in an the information age.  People have all, or want all, information at their  finger tips.  Instant, complete, and correct information is what we are striving for.  Your home value should be no different!  So Team Swor has teamed up with HomeInsight to offer you a free home value service. 

Sign-up is free and you will instantly be able to see what current homes are for sale in your area and what recent home sales have been.  It is even available to those looking to buy a home.  It will let you know the same information in the neighborhood you are looking to buy.

To sign-up today click here and fill out the form.  If you have any questions of course you can email or call us at 218-740-3116.

Home Values in Your Neighborhood

FHA Mortgages Are Not Just For First Time Home Buyers!

With all the changes in the mortgage industry since the end of 2007, FHA mortgages have become a popular mortgage product – but not just for first time home buyers. FHA mortgages offer fixed and adjustable rate mortgages, rehabilitation loans, as well as many refinance opportunities. The rates on FHA mortgages tend to be lower than Conventional products . . . and so do the minimum required down payments. In some instances even the closing costs are lower when compared to a traditional Conventional mortgage product.

 

Most consumers believe FHA and home purchases alone go hand in hand, however, FHA also offers refinancing opportunities that are very competitive. The idea of taking cash out of a property, with an easier qualification process, to 95% of the home’s value, can be quite appealing to a homeowner when comparing available options. Also, for some homeowners with less than perfect credit, FHA is an option that may be the difference between a closed loan with a happy homeowner and a frustrating mortgage denial.

When comparing and choosing your next mortgage company and mortgage program, trust an expert. Make sure you’re working with a professional that offers all programs – especially FHA – and has recent experience with these products. Overlooking an FHA option at this time may be one of your biggest mortgage mistakes!