Right time to Buy?

I’m frequently asked when is the best time to buy or sell? And the answer is always the same, now! If you are sitting on the fence and thinking you will wait and see what happens with the market, you could be waiting a long time. Our local Kenai Peninsula market is still in good shape and hasn’t seen the decreases we hear so much about elsewhere. Interest rates are still near all time lows and the market has shifted from a seller’s market to buyers market. The best time to buy is when everybody else is selling!

Home improvements that pay!

It’s a common misconception that any and all improvements you do to your home are going to increase the value of the home. It’s very possible that the home improvement project you just spent thousands of dollars on will actually decrease the value of you home. An outdoor swimming pool, for example, might be a great investment in Arizona, not such a great idea in Alaska! Over improving your home for your area or neighborhood can also have a negative effect on your home’s value.

Bonus Tips:

Got Credit?

A bad credit score can mean the difference between getting a loan or not getting a loan! If you have bad credit it’s better to start working on it early and get it fixed before you try buy a home. Start by obtaining a copy of your credit report. Once you have a copy of your credit report, review it carefully and look for mistakes. If you find some problems, make sure to dispute them with all 3 credit agencies. Not paying your bills on time is a very common cause of poor credit. Make sure you are caught up on all of your bills and keep paying them on time to increase your credit score.

Bonus Tips!

Why should you be concerned about your FICA score? Your FICA score plays a major role in the interest rate your lender is going to give you.

Click here for your FREE copy of your credit report available from AnnualCreditReport.com. This is the only approved source for your yearly free credit reports. You can receive a report from all 3 credit agencies at once or spread them out over the year.

Skip the toys & new car until after you have closed on your new home. Buying big ticket items before you close on your home can have a drastic effect on your credit and could affect your loan approval.

Credit cards also carry weight when it comes to your credit score. Don’t go open a bunch of new cards in hopes that it will boost your score; it will more than likely have the opposite effect. If you carry a balance each month, try paying those amounts down instead of transferring it to another card. They also like to see your balance between 30 & 50% of your credit limit. If you have a $10,000 credit limit, your revolving balance should be between $3,000 and $5,000 to maximize your credit score. A higher balance will have a negative impact on your FICA score.

Sweet Smells!

While you may have your home looking good, does it smell as good as it looks?  Odors can be a major deterrent to a potential buyer looking at your home.  Garbage disposals are often a source of sour smells.  Try grinding up a lemon and running it through your disposal to neutralize any odors. Want to sweeten things up a bit?  Bake some cookies or bread before a showing.  If you don’t have time to bake, sprinkle cinnamon powder or vanilla extract on a cookie sheet and warm it up in the oven.  If you have pets in your home, you might consider having your carpets & furniture professionally cleaned.  Smokers should also consider a fresh coat of paint in addition to professional cleaning to help eliminate any odors.