The Venture

Understanding your credit score

The Five Things That Count Listed below are five main categories of information on a credit report that Fair Isaac & Co evaluate, along with their general level of importance. Within these categories is a complete list of the information that goes into a FICO score. Please note that:

• A score takes into consideration all these categories of information, not just one or two. No one piece of information or factor will determine your score.
• The importance of any factor depends on the overall information on your credit report.
• Your score only looks at information on your credit report. Your FICO score does not reflect your income
• Your score considers both positive and negative information in your credit report.
• Your score does not consider your ethnic group, religion, gender, marital status and nationality.

The score itself can range from 300 to 900. The formula for exactly how the score is calculated is proprietary information and owned by Fair Isaac. Here is an approximate breakdown of how it is determined:

1. 35% of the score is based on your payment history. One of the primary reasons a lender wants to see your score is to find out if and how timely you pay your bills.
2. 30% of the score is based on outstanding debt. How much do you owe on your loans? How many credit cards? Are they at their limits? A good rule is to keep your cards at 30% or less of their limits.
3. 15% of the score is based on the length of credit history. More information about your past payment history gives a more accurate prediction of your future actions.
4. 10% of the score is based on the number of inquiries. These may be bad for your score because they indicate that you may be in some kind of financial trouble or may be taking on a lot of debt. FICO scores only count inquiries from the past year.
5. 10% of the score is based on the types of credit you currently have. What kind and how many of each? The credit mix usually won’t be a key factor in determining your score- but it will be more important if the report lacks other information on which to base the score.
You can have access to your credit report using Equifax

Port St. Lucie

In Port St. Lucie, one of the fastest growing cities in South Florida, this 1/4 acre lot awaits your new home.
Located in the sought after area of Torino this lot is surrounded by gorgeous homes and it is high and dry ready to build.

Please contact Raquel J.
(954) 362-0980 X 2011
raquelj@rightabouthomes.com

Hiring the right real estate agent in a buyer's market

With a shift in market conditions, what used to be a tilted scale for buyers and sellers has now become a fair ground for negotiations. Homes that are priced right and marketed properly continue to sell and buyers have the opportunity to negotiate basic terms.

In a market where sellers need to make a greater effort in order to sell their homes and buyers can get creative when constructing offers, it only makes sense that you hire a competent real estate agent to help you do so, but the question is how do you know who's competent and who's not?
When you hire a real estate professional that you decide to be loyal to, you can be certain that they will be loyal to you too and bear your best interest in mind, so before you go out and "tie the knot" with a real estate agent, ask some questions:

1. Are you a Realtor? Not every real estate agent is a Realtor. A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, and voluntarily adheres to a strict Code of Ethics and Standards of Practice and pledges to maintain incomparable knowledge of the real estate processes, becoming the experts of residential and commercial property transactions.
2. Do you work as a full-time Realtor®? The felixibilty of schedules in the real estate field tempts a lot of agents to keep their full-time jobs and sell real estate "on the side". While this may work for some agents, others tend to keep real estate "on the side of their minds" as well, relegating the clients' needs.
3. Do you have an assistant or partner? When a Realtor has someone they can rely on to take care of the myriad of details that a real estate transaction requires, they can spend more time on what really matters, like finding a buyer for your home or a home for their buyers.
4. What area and in what aspect of the market do you specialize?
5. Do you have a written marketing plan specifically designed to sell my house or help me find the right home for my family?
6. How do you market properties to buyers?
7. How many properties have you sold in the last three (3) months?
8. What kind of marketing materials will you produce to market my home ?
9. Do you have a written business plan and mission statement?
10. How often will I get an update on the efforts to sell my home or find a home?
11.In what ways do you encourage other Realtors® to sell my property? How do you network?
12. What can I do to help sell my property? A Realtor should have a list of ideas to help you spruce up your home.
13. How many listings do you have? What percentage of them sell?
14. What is the market trend now?
15. Based upon what you know about my situation, should I sell/buy? Why?
16. If I give you the listing, what are the first seven (7) things you will do in the first week to sell my property?
17. What methods do you use to communicate?  Pager  Phone  E-mail  Direct mail  Personal visit
18. What kind of internet presence do you have?
19. What kind of tools on your website are available for buyers / sellers?
20.How soon will my property be featured on your site?
21. On how many different sites will my property be found?
22. Why are you worth the commission?
30. Do you have any buyers for this home now?