This Month in Real Estate September 2014

What’s happening in Real Estate September 2014, report by Keller Williams Realty.

For more real estate news related to your specific location please contact me today.

E Patrice Hayes
Licensed Real Estate Associate Broker in NY, CT and GA 
Member of The Institute For Luxury Home Marketing
 
Search luxury properties at www.epatricehayes.com
Search all properties at www.MultiStateRealEstateBroker.com
Download My Mobile App To Search Homes
 
Keller Williams Realty Group
760 White Plains Rd
Scarsdale, NY 10583
Phone: 914.902.3220

  

8 ways the new FICO scoring system benefits small business owners

fico score 8 ways the new FICO scoring system benefits small business owners

8 ways the new FICO scoring system benefits small business owners

FICO Score 9 now available

By now, you’ve probably heard about the new FICO scoring system, called FICO Score 9 which changes how lenders look at your score and how they make lending decisions.

Brian Manson, Credit Manager at Balboa Capital notes that “FICO scores can affect small businessowners’ ability to secure business loans, lines of credit and equipment leasing programs.” For this critical reason, small business owners must be aware of how the new FICO scoring system impacts their bottom line.

Read also: 5 common myths that may be affecting your business credit score

Manson asserts, “Small business owners don’t have the luxury of a large corporation backing them financially, so they are the ones financing their operations.”

“Banks and financing companies will examine a business owner’s personal credit score and credit history when evaluating their his/her loan application,” Manson continues. “This is done to determine the business owner’s level of credit risk. A good FICO score presents business owners with a better chance at getting their loan or line of credit approved. Unfortunately, outstanding medical bills have hurt the credit scores of many small business owners nationwide.”

FICO’s updated scoring system now places less emphasis on unpaid medical bills, beginning this fall, which Manson shares in his own words below, the eight ways the new scoring benefits small business owners:

  1. Entrepreneurs and business owners who have outstanding medical debt will not have their credit scores penalized like they have been in years’ past.

2. Debt collections can last on a business owner’s credit report for up to seven years, but FICO will not include credit-score penalties if a medical bill has been paid or settled with collection agencies.

3. FICO estimates the average credit score of people with outstanding medical bills will improve 25 points, which could put business owners at or above the threshold required by their lender.

4. Business owners will also be able to secure loans and financing with lower interest rates because their scores will improve.

5. Business owners with medical debt will no longer be seen as a credit risk.

6. Debt collections can last on a business owner’s credit report for up to seven years.

7. FICO’s new scoring system will prepare a business owner for success when it comes time to apply for a loan, line of credit, or equipment lease.

8. Lenders will loan more money and business owners will secure more funding, and this will help the economy grow because money will be invested in small businesses.

Read full article at AGBeat.com

E Patrice Hayes

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Search luxury properties at www.epatricehayes.com

Search all properties at www.MultiStateRealEstateBroker.com

Download My Mobile App To Search Homes

Keller Williams Realty Group

760 White Plains Rd

Scarsdale, NY 10583

Phone: 914.902.3220

This Month in Real Estate August 2014

What’s happening in Real Estate August 2014, report by Keller Williams Realty.

For more real estate news related to your specific location please contact me today.

E Patrice Hayes
Licensed Real Estate Associate Broker in NY, CT and GA 
Member of The Institute For Luxury Home Marketing
 
Search luxury properties at www.epatricehayes.com
Search all properties at www.MultiStateRealEstateBroker.com
Download My Mobile App To Search Homes
 
Keller Williams Realty Group
760 White Plains Rd
Scarsdale, NY 10583
Phone: 914.902.3220

  

This Month in Real Estate July 2014

What’s happening in Real Estate July 2014, report by Keller Williams Realty

For more real estate news related to your specific location please contact me today.

E Patrice Hayes
Licensed Real Estate Associate Broker in NY, CT and GA
 
Member of The Institute For Luxury Home Marketing
Search luxury properties at www.epatricehayes.com
Search all properties at www.MultiStateRealEstateBroker.com
Download My Mobile App To Search Homes
 
Keller Williams Realty Group
760 White Plains Rd
Scarsdale, NY 10583
Phone: 914.902.3220

  

This Month in Real Estate June 2014

What’s happening in Real Estate June 2014, report by Keller Williams Realty

For more real estate news related to your specific location please contact me today.

E Patrice Hayes
Licensed Real Estate Associate Broker in NY, CT and GA
 
Member of The Institute For Luxury Home Marketing
Search luxury properties at www.epatricehayes.com
Search all properties at www.MultiStateRealEstateBroker.com
Download My Mobile App To Search Homes
 
Keller Williams Realty Group
760 White Plains Rd
Scarsdale, NY 10583
Phone: 914.902.3220

  

It’s 11/11….and here’s The Top 11 Reasons You Should List Your Home During The Holidays

Holiday-Proof-Your-Real-Estate-Business

The Top 11 Reasons You Should List Your Home During The Holidays

11. By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year for a time convenient for you!

9. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the holidays!

8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until spring to buy, you need to be on the market during the Holidays to capture that market!

7. Some people must buy before the end of the year for tax reasons!

6. Buyers have more time to look for a home during the Holidays than they do during a working week!

5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!

4. Houses show better when decorated for the Holidays!

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money for you!

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!

And the number One reason why you should list your home during the Holidays…..

1. People who look for homes during the Holidays are more serious buyers!

Now after reading “The Top 11 Reasons You Should List Your Home During The Holidays” what are you waiting for???

Don’t miss out by waiting until the spring, list your home now and sell now!

Contact me today…and yes, I’m working all through the holiday season!!!

914.902.3220

epatrice@epatricehayes.com

www.epatricehayes.com

E Patrice Hayes, Luxury Property Specialist

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Search homes at www.MultiStateRealEstateBroker.com
Search luxury homes at www.epatricehayes.com

Keller Williams Realty Group

760 White Plains Rd

Scarsdale, NY 10583

Phone: 914.902.3220

epatrice@epatricehayes.com

An Important Message – The Real Estate Waiting Game Is Over

An important message from our in house lender Mortgage Master…..

The Real Estate Waiting Game Is Over

If you’re like a lot of homebuyers, you’ve probably found a comfortable spot on the sidelines of the real estate market to simply sit and watch. Who can blame you? Over the past several years, home values have decline considerably, sales volume has turned down, and mortgage rates have dropped.

There’s just one problem: none of that is true anymore. Furthermore, if you wait too long, missing out on today’s real estate opportunities could be more costly than you realize.

While, at one time, waiting out the market seemed the wisest possible play to make, the waiting game is over, and the “opportunity of a lifetime” — once characterized by cheap money and cheap homes — is clearly starting to pull out of the station.

Consider these statistics:

  • Home prices are creeping up. At the time of this writing, the median price for new homes sold in April hit $271,600, according to the Census Bureau. That’s higher than its 2006-2007 peak. April’s median home sales price for existing homes was $192,800, the National Association of Realtors reports, marking a 14-month run of consecutive year-over-year price gains. The last time that happened was from April 2005 to May 2006, at the height of the real estate boom.
  • Inventory is getting scarce. The inventory of existing home sales for April was 13.6% below April 2012’s 6.6-month supply, with current, and now only comprises a 5.2-month supply. New homes are in a similar boat, with a 4.1-month supply of homes at April’s sales pace.
  • Rates are showing signs of increasing. Over most of 2012 and the first half of 2013, the average rate on 30-year mortgages has been below the 4% mark, but that could be changing. In April, the average edged up on 4% with rates in the 3.91% to 3.98% territory, depending on the week and the lender. The last time mortgage rates were at 4% was March 2012.

But most importantly, it costs you money to wait — sometimes, lots of it. When the market starts appreciating, as it is starting to do, it is nearly impossible for your savings to keep pace with market gains.

Let’s take the median existing home as an example: If that home’s current $192,800 price tag increases by 5% over the next 12 months, its value will have gained $9,640 to hit $202,440. Will you be able to save $9,640 over a year, in addition to covering all your additional expenses? That’s a critical question you must ask yourself, because that amount of money could cut into your down payment or costs to close the loan.

Factor in an increase in mortgage rates and today’s deal could quickly elude you in just a few short months. If you are interested in purchasing a home, and don’t want today’s opportunities to escape you, now is the time to start running the numbers.

Call me today and I’d be happy to sit down with you to assess your current buying power and the financing options available to you!

Keep in mind I always offer FREE pre-approvals. If you are already working with another lender, reaching out for a second opinion is always a good idea.

* Mortgage Master is not a credit counseling or financial advisement firm and this information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation or eligibility to secure a home loan.

Christian G Babcock

Senior Loan Officer
www.mortgagemaster.com/cbabcock
Mortgage Master Inc. l 520 White Plains Road l Tarrytown, NY 10591
[o] 914.586.1108 [c] 914.447.9691 l [f] 914.206.9641 I NMLS ID: 181227
CLICK HERE TO APPLY ONLINE
Recognized as Top 1% of Loan Officers in America by Mortgage Executive Magazine
Mortgage Master All Pro Team

_____________________________________________________

E Patrice Hayes

Licensed Real Estate Associate Broker in NY, CT and GA

Member of The Institute For Luxury Home Marketing

Search homes at www.MultiStateRealEstateBroker.com
Search luxury homes at www.epatricehayes.com

Keller Williams Realty Group

Phone: 914.902.3220