March's Real News On Real Estate
Springs Around The Corner!
Make sure you understand your credit score!
Dear friends and family,
It is hard to believe that Spring is right around the corner. I feel so privileged to have started this new year strong in building my Real Estate career and giving back to the community. I want to take a moment to thank everyone who came out to my February volunteer event. Read below for a recap and how to get involved in March. Remember to Spring Your Clocks forward one hour this Sunday, March 9, 2014.
With the Spring comes the start of the Buying and Selling Real Estate season in the Portland-Vancouver area. There are a lot of things both buyers and sellers must be aware of as they prepare to enter the Real Estate Market. One big concern for buyers is obtaining a mortgage with a low interest rate. This months Real Estate blog covers the importance of Credit Scores, often referred to as FICO scores, for obtaining a mortgage.
Whenever someone applies for a loan, be it a credit card or a mortgage, lenders want to be able to asses their risk. Credit reports help lenders make that assessment. Three separate credit reporting agencies keep track of credit use and report scores. When determining whether or not to lend to a homebuyer, the lender will review the buyer’s credit or FICO score to get an idea of the buyer’s payment history, total debt, applications for new credit, and types of credit used. Buyers can improve their credit score in several ways including paying active past due accounts to current status and pay outstanding revolving debt down to as close to zero as possible. For more advice on improving credit, as other information on credit scoring, visit: www.myfico.com/crediteducation.
As the Spring Buying and Selling Real Estate season begins, expect the inventory to increase and the active days on market for houses to shorten. If you are interested in possibly selling your house, or looking into buying a new house, feel free to call me to learn more about the process and get started.
Create a great March!
Erin E. Wright
Your Local Real Estate Agent.
Proudly Serving My Clients and My Community!
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