News from Carla Griffin, Broker, B & A Realtors

Volume 29

October 2011

Greetings from B & A Realtors

Greetings!

How is Your Credit Score?

The media, newspapers, internet are full of incorrect information regarding Credit.    Here are some certain facts that will affect everyone and any financial decision that you have made or about to make.

MYTH: Always pay your credit card balance in full and that will give your the best credit.   The problem is if you have no balance and you pay it in full every month, you will have no payment history.   You will want to leave a small balance every month (Ideal amount is 1%) to show that you can pay on time.   Don't just pay off a balance and leave it as a zero balance account ongoing because after six months it is typically looked at as an inactive account and may be closed due to inactivity. Leaving a very small balance, that will help you!

MYTH: Too many accounts will hurt, therefore you must close accounts.   This is a HUGH myth! 15% of your score is based on the average age of your accounts.   Fact, the OLDER the revolving account the BETTER! This does not mean run out and open several new accounts...It is also a good idea to carry a small balance to keep the account open.

MYTH: A co-signer is not responsible. In all actuality, a co-signer is as responsible as the signer on the account. This will affect the "co-signers" credit report due to the fact it will show up on their credit report as a joint account and if the person that they co-signed for fails to make payments it will have a very negative effect on their own credit score and late payments will appear on their report.

MYTH: "I don't need to check my credit because I pay my bills on time." The reality is that 85% of credit files contain errors, and often are merged with someone with the same or similar name. So you need to check your report often for errors as well as Identity Theft.

MYTH: Consolidating into a low interest credit card will increase your score.   The interest rate of your cards have no effect on your score.

MYTH: "As long as you pay off your credit card balances, your score will go up." The reality is that if your card is maxed out, the way you are paying on it will just affect your payment history and most likely it will remain the same.   As you pay credit cards down, then the score will get better.

MYTH: Using debit cards will help you build credit. This is completely FALSE. Debit cards are just like your bank account, they do not get reported to credit reporting agencies in any way.

MYTH: The credit bureaus are government agencies. Completely FALSE. Credit bureaus are for profit companies.    They collect data to sell to lenders and providers.   They are governed by the Federal Trade Commission.

If you would like a review of your credit report, please contact a Certified Credit Specialist.

Prices are at the Mid-1990 offerings!

Now is the time to purchase, don't let an opportunity to purchase with low interest rates and low prices pass you buy. Prices are rising in The Villages so don't wait as today is the BEST day to purchase.

We have Villas and homes currently being offered from $130,000 to $745,000. CALL today at (408) 274.8766 for a tour and find your home in this "hidden gem" in Santa Clara Valley.

Why do online real estate valuations fail?

These are computer programs! The computer can't necessarily distinguish nuances in a property's condition or aesthetics, nor does it always correct for whether the house two blocks over was a short sale or a foreclosure. The listings provided by the sites can be very useful for homewners trying to stay on top of what homes around theirs are selling for...NOT listed for, but actually selling for.

When it is time to actually list your home or get an opinion of value, consult with a living, breathing local real estate professional who sees and sells all the different specimens of homes in your neighborhood and see first-hand what ready, willing, qualified buyers actually pay for them, day in and day out. I think it's important for sellers interviewing listing agents to discuss the online comparables with prospective listing agents, but not as a counter-augument to what the listing agents recommend you list your home for.

Rather, it's a smart way to see what the agents know - and what you can learn - about the other properties in your neighborhood.

Become a Fan at B & A Realtors. I welcome you, your family and/or friends to become my new neighbors in this beautiful
gated community.

Sincerely,

Carla

Oh, By The Way
I'm never too busy for your Referrals

Client/Business Associate Testimonial:

"Our two very complicated real estate transactions were made easy by Carla's attention to detail, positive attitude & extremely competent expertise. She kept everyone on schedule, including us and all could not have gone any smoother. It is with pleasure that we recommend Carla." - Ernie and Andrea Nassimbene, Village Glen Arden, The Villages Golf & Country Club

Quote for the month:

"You should never be content with so little when you can reach out for something big." - Charles Allen

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