Martocchia Realtors®'s Blog
33 Cogswell Ave, Cambridge, MA 02140
One of the most critical aspects of your financial state, when you’re buying a home, is that of your credit score. Credit scores take your entire economic history into account. That means every missed payment, every account opened, and that three-digit number represents every debt you owe. Once you obtain your credit score and assess your finances, if you realize your score needs help, you may feel desperate. The good news is that you’re not helpless. There are plenty of things that you can do to raise your credit score in a short time to increase your chances of getting a better rate on a loan for your home purchase. Read on for some tips on how to improve your credit score.
Keep An Eye On Your Credit Card Balances
One of the most impactful factors on your credit score is how much debt you have. How much debt you have versus how much available credit you have is a significant factor in your score. If you pay your balances in full each month, that’s great. Keep in mind that even if you do pay off your balances that monthly balance amount affects your score as well. Paying off your outstanding credit card balances will have a positive effect on your score.
Remember Some Debt History Is Good
Once you pay off a car or home loan, it can be tempting to want these accounts removed from your credit history. When you’re getting a home loan, the lender wants to know that you’re reliable. If you can show that you have responsibly paid off other loans that can only be a positive thing for you and your credit score. Don’t be so quick to remove old accounts that have been paid off from your report.
Pay On Time
If you pay your bills on time continuously, it can only bring your score up. If our rating needs help, this could be the most critical thing that you can do to raise your score.
Keep Your Payments Equal Over Time
Keeping your payments equal means that you shouldn’t start charging more than you usually would. You also shouldn’t begin to make lower payments than you have been. Keeping your spending and payments consistent can help you to raise and maintain a good credit score.
If you know you’ll be purchasing a home soon; you should check your credit score. If you’re not close to heading out on the home search, you can pull back a bit. While you always want to maintain good credit health, you shouldn’t be so focused on your credit score that you forget about other things like saving for a downpayment. Know that your credit score is essential in buying a home, but understand that there are many moving parts when it comes to buying a home.
A home seller must consider the initial asking price of his or her residence closely. Because if a home seller sets an unrealistic initial asking price, he or she risks alienating potential buyers.
Now, let's take a look at three tips to help you set a realistic initial asking price for your house.
1. Review the Local Housing Market
The local housing market may favor buyers or sellers. Fortunately, if you analyze the local housing sector, you can differentiate a buyer's market from a seller's market – or vice-versa – and price your house accordingly.
In a buyer's market, there is an abundance of quality residences and a shortage of buyers. And if you're operating in a buyer's market, you may need to price your house aggressively to stir up interest in it.
Comparatively, in a seller's market, there is a shortage of quality residences and an abundance of buyers. In a seller's market, you may be able to generate lots of interest in your house, even if you set an above-average price for it.
Regardless of whether you're operating in a buyer's or seller's market, you should assess housing sector data. Find out how your residence stacks up against available houses in your city or town that are similar to your own. Then, you may be better equipped than ever before to set a competitive initial asking price for your home.
2. Conduct a Home Inspection and Appraisal
By performing a home inspection, you can receive comprehensive insights into your house's condition. Following an inspection, you can prioritize home repairs. Plus, you can use an inspection report to help you determine how to price your residence.
In addition, you can conduct a home appraisal prior to listing your residence. Thanks to an appraisal, you can receive a property valuation. And as a result, you can use this property valuation to price your house appropriately.
3. Consult with a Real Estate Agent
A real estate agent understands the ins and outs of the housing market. Thus, he or she can help you establish the right price for your house.
Ultimately, a real estate agent is unafraid to be honest with a house seller. He or she will teach a seller about the housing market and provide unbiased recommendations about how to price a residence. Best of all, a real estate agent will promote a house to prospective buyers and ensure a seller can get the best price for his or her home.
Let's not forget about the assistance that a real estate agent can provide during a negotiation, either. A real estate agent is happy to negotiate with a buyer on your behalf. As such, a real estate agent can help you optimize your house sale earnings.
For a home seller who wants to determine the right price for his or her house, it helps to prepare as much as possible. If you take advantage of the aforementioned tips, you can establish a competitive initial asking price for your home and boost the likelihood of enjoying a fast, profitable house selling experience.
The fight to sustain planet earth has gone beyond the responsibility of just a few to the responsibility of all inhabitants. Diminishing energy sources, limited human resources, pollution, and other environmental concerns sit at the top of the to-do list of every country across the globe. Experts have awakened to the need to sustain planet earth and unearthed little hacks that would play a role or two in the sustenance of the environment. Fortunately, going green does not have to cost you much money or time. Little hacks to your daily routine can add up quickly to a substantial change in the ecosystem.
Here are three little green living hacks that can help you protect your family and the environment.
Go for EnergyStar-Rated Appliances
A report from the United States Energy Information Administration stated that an average American home incurs about $112.59/month as electricity bill. Worse, this ridiculous amount does not include natural gas and other transportation costs. To reduce the excess energy consumed in your home, experts advise that you opt for EnergyStar-rated appliances designed to complete the same task with a minimum amount of energy.
Save Energy with LED and CFL Lights
Replacing the traditional incandescent bulbs with light-emitting diode (LED) and compact fluorescent lamp (CFL) bulbs is yet another good way to save energy and protect the environment. LED and CFL provide many advantages over incandescent bulbs. LED and CFL bulbs utilize seventy-five percent less energy than do traditional bulbs—and, they emit less heat as well. Furthermore, they last longer than incandescent bulbs, which means saving the environment and a few bucks too.
Save Water with High-Efficiency Showerhead
Yes, water covers seventy-five percent of the earth, but our homes use only about one percent. A large percentage of earth's water resides in oceans and is too salty for at home use. A substantial amount of earth's water, located in aquifers beneath the ground, is also inaccessible by humans. Unfortunately, human activities pollute the small percentage of clean water made available for use daily. And the unpolluted fraction does not have a means for conservation, which is why experts recommend high-efficiency showerheads designed to save up to three thousand (3,000) gallons of water per person each year.
Adding energy-efficient fixtures and light bulbs to your home can increase its value. Ask your local realtor about high-efficiency homes available in your area.
Artificial Intelligence, or AI, is the latest technology hitting shelves and being brought into homes. We now not only have the ability to control various devices in our home from an app on our phone but we can also create reports to gain insight into how we use them. Data enthusiasts unite!
The Nest learning thermostat is every Dad’s best friend. You now have the hard data to back up why everyone needs to keep the house temperature exactly where you set it. And if anyone does turn it up you can turn it back down right from your phone.
If you are a data enthusiast you can use reports to see how much energy you’ve used throughout the week and/or month. Let’s be honest that’s enough to make us all data enthusiast converts.
Nest Cam IQ allows you to keep watch over your domain. It has face recognition capabilities and high-quality footage to recognize family members, frequent visitors, and intruders. When you add the Nest Aware feature you can even get updates right on your phone of the comings and goings of your home.
With microphone capability, you’re able to speak to those in the room, even if your two towns over. Keep your home safe, dogs off of the couch and teens from breaking house rules. And night mode utilized LED lights to get clear pictures for 24/7 film coverage.
Nest Protect is the smart smoke and carbon monoxide alarm you wish you always had. It recognizes the difference between smoke and steam which means no more obnoxious false alarms when cooking. You can use your towels solely for drying your hands again.
If that alarm happens to go off when you aren’t home it alerts your phone so you’re in the know at all times. It even warns you when the alarm is about to go off so it does scare the bejeezus out of you. As in it actually says “Heads up. There’s smoke in the kitchen” (or whichever room it’s installed in).
Nest Protect even has a motion detector and nightlight. So it knows to give you a little light as you walk by at night. You don’t have to choose between stumbling in the dark or fighting bleary-eyed through the brightness of normal lighting.
One last thing: if you upgrade to a Rheem water heater you can sync it up to your Nest Protect. Why would you want to do that? If one of your alarms does go off you can set up a trigger reaction where your water heater will shut off. It can also sync up to your Nest thermostat and turn the heat off as well.