AS HOMEBUILDER CONFIDENCE STAGNATES, DEALS ABOUND

Home builder confidence held firm this month, according to the National Association of Home Builders’ monthly Housing Market Index. September’s reading of 13 equaled a 17-month low.

The HMI is on a 1-100 scale. A value of 50 or better indicates “favorable conditions” for home builders.

Broken down, the Housing Market Index is actually a weighted composite of 3 separate surveys which measures current single-family sales; projected single-family sales; and foot traffic of prospective buyers.

None of the 3 September surveys improved from August:

• Single-Family Sales : 13 (unchanged from August)
• Projected Single-Family Sales : 18 (unchanged from August)
• Buyer Foot Traffic : 9 (from 10 in August)

Builder confidence is lower in 2010 than at any point in recorded history.

Read More

 

10 Things That Make Buyers Bite - http://wp.me/p146tm-3n

Impress buyers right off the bat with a beautiful entrance. "I always tell sellers to put a fresh coat of paint on the front door," says real estate agent Theresa Evans of Charleston, S.C.

And if you don't have an entrance at all, make one. "A lot of my buyers have mentioned that they don't like to just go through the front door into the living room," says Los Angeles-based realtor Rhonda Kohn.

This problem, more common in condos and apartments, is solved by cleverly placing furniture to create more of an entryway. "A console table or demilune chest of drawers with something over it creates a welcoming vignette," says designer Sue Adams of Andover, Mass.

2. Hardwood Floors

Realtors agree that most buyers are hunting for hardwood. You can bet that of all types of flooring, hardwood floors will "have the most longevity and will never go out of style," according to designer Linda Applewhite of Sausalito, Calif.

A synthetic wood floor, like Pergo, "is always a good option for those who can't afford hardwood," furthers real estate agent Rhonda Kohn. But know that a laminate floor "won't fool everyone - it has a hollow thud when you walk on it and it doesn't look the same," adds designer Sue Adams.

3. Fab Fixtures

"Fixtures," says designer Linda Applewhite, "are the jewelry of the house." Only the extremely detail-oriented among us will stop to inspect doorknobs, faucets and cabinet knobs, but designers and real estate agents argue that we'll prefer the look of a place that has coordinated fixtures that are a cut above standard developer grade.

"Newer construction is so chintzy with fixtures and fittings," observes Miami-based interior designer Simon Temprell. Replacing knobs and drawer pulls "is the quickest way to make over a bathroom or kitchen," he says. And when it comes to faucets, he adds, "for $60 or $70 dollars you can buy something infinitely better" than what you likely already have.

 

Read More

10 Things That Make Buyers Bite - http://wp.me/p146tm-3n

Impress buyers right off the bat with a beautiful entrance. "I always tell sellers to put a fresh coat of paint on the front door," says real estate agent Theresa Evans of Charleston, S.C.

And if you don't have an entrance at all, make one. "A lot of my buyers have mentioned that they don't like to just go through the front door into the living room," says Los Angeles-based realtor Rhonda Kohn.

This problem, more common in condos and apartments, is solved by cleverly placing furniture to create more of an entryway. "A console table or demilune chest of drawers with something over it creates a welcoming vignette," says designer Sue Adams of Andover, Mass.

2. Hardwood Floors

Realtors agree that most buyers are hunting for hardwood. You can bet that of all types of flooring, hardwood floors will "have the most longevity and will never go out of style," according to designer Linda Applewhite of Sausalito, Calif.

A synthetic wood floor, like Pergo, "is always a good option for those who can't afford hardwood," furthers real estate agent Rhonda Kohn. But know that a laminate floor "won't fool everyone - it has a hollow thud when you walk on it and it doesn't look the same," adds designer Sue Adams.

3. Fab Fixtures

"Fixtures," says designer Linda Applewhite, "are the jewelry of the house." Only the extremely detail-oriented among us will stop to inspect doorknobs, faucets and cabinet knobs, but designers and real estate agents argue that we'll prefer the look of a place that has coordinated fixtures that are a cut above standard developer grade.

"Newer construction is so chintzy with fixtures and fittings," observes Miami-based interior designer Simon Temprell. Replacing knobs and drawer pulls "is the quickest way to make over a bathroom or kitchen," he says. And when it comes to faucets, he adds, "for $60 or $70 dollars you can buy something infinitely better" than what you likely already have.

 

Read More

In Defense of Home Ownership - http://wp.me/p146tm-3h

It's hard to read the headlines and not conclude that becoming a homeowner is a terrible idea.

Last week, the National Association of Realtors announced that existing-home sales in July had fallen an astounding 25.5 percent from the previous year. Sure, there was a federal tax credit in place last summer. But with single-family home sales at their lowest level since 1995 and unemployment still stubbornly high, home prices may fall further.

In the meantime, millions of homeowners are still far underwater, and government programs to help them have fallen well short of their goals. More foreclosures are coming, casting a deeper shadow over home prices. So it's hardly surprising that the conventional wisdom says that home values will never again rise faster than inflation. But as with stocks and the weather, it is dangerous to assume any certainty in the housing market. And by wallowing too much in the misery of others, people looking for a new place to live run the risk of thinking every home purchase will end in regret, at least financially.

Many still could, if they buy in hard-hit areas where prices could fall further. But a mortgage is still a form of long-term forced savings, after all. This is more important than ever, since fewer people have access to generous pensions than they did during the last big housing slump. A 401(k) or similar plan is no bargain, either, with its erratic returns and employer matches that come and go as the economic winds shift. Social Security is also likely to be less generous, and Medicare will probably cost more. Besides, owning a home isn't just about what shows up on a net worth statement — something that bears repeating after all the "investing" that people thought they were doing when buying homes over the last 10 or 15 years. Many of these more qualitative factors, from living free of a landlord's whim to having access to a good school district or retirement community, haven't changed and probably never will.

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Does Property Value Decline Eliminate the Second Lien? http://ht.ly/2GTtM

"I received a confidential note from a firm claiming that they can eliminate my second mortgage. I am inclined to believe them because the value of our home is now less than the amount of the first mortgage. Is this an opportunity or a scam?"

The answer to your question is not clear, but the misinformation in the note they sent you suggests a need for caution. The note says "that your second mortgage ...may be eliminated due to a significant decrease in property values in your area..." In fact, the decline in the value of your home does not in any way eliminate the second lien on your property, or your legal obligation to pay the second mortgage.

Read More

Top 1o Tips for Getting a Deal on a Home in the Fall - http://wp.me/p146tm-2M

#1: Get the timing right. Most real estate professionals say the spring/summer homebuying season is followed by a lull in real estate activity in September, when homeowners settle in after vacations, go back to work and get the kids ready for a new school year. If a bargain is what you’re after, start shopping for a home in August and September. There may not be as many homes on the market as there are in the spring, but you’ll have less competition from other buyers, and sellers will be more motivated and willing to negotiate.But be sure to keep your local market in mind when house hunting in the fall. Ski-resort towns and areas with temperate climates, such as Florida and California, don’t always have a “down time” when it comes to real estate sales. You may be competing with just as many buyers as you would during the spring, so be prepared to make solid offers and negotiate with sellers.

 

#2: Seek out motivated sellers. If you’re hunting for a bargain, it’s important to distinguish the sellers who are eager to unload their properties from the ones who are just testing the market. Some sellers who list their homes in the fall are on a deadline to sell before the holidays. Working with these sellers is a great way to find a good buy, as they may be willing to come down in price to quickly close a deal. Other sellers who aren’t in a rush most likely won’t budge on price, so work with a real estate agent to find the flexible sellers instead.

Read More...

10 Reasons to Buy a Home

Time magazine is being overly pessimistic in its recent cover piece that called into question the benefits of homeownership. In fact, now is a great time to buy. And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn't changed. 

Why is now a great time to buy? Here are 10 reasons:

1. You can get a good deal. Prices are down 30 percent on average. They're at a level that makes sense for people's income. 
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago. 
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place. 
4. It'll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that? 
5. You can get a better home. In some markets, it's simply the case that the nicest places are for-sale homes and condos. 
6. It offers some inflation protection. Historically, appreciation over time outpaces inflation. 
7. It's risk capital. If the economy picks up, you stand to benefit from that, even if you're goal is just to have a nice place to live. 
8. It's forced savings. A part of your payment each month goes to equity.
9. There is a lot to choose from. There are some 4 million homes available today, about a year's supply. Now's the time to find something you like and get it. 
10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply. 

Source: Wall Street Journal, Brett Arends (9/16/10)

UNDERSTANDING THE PRE-APPROVAL PROCESS

Loan shopping is as intricate a process as house shopping, and the terminology is often confusing. The terms “pre-qualification” and “pre-approval” sound like the same thing, but they’re not. And in fact, neither pre-qualification nor pre-approval means a bank actually has to give you the loan. Clear as mud, right? … Read more

6 tips for creating a great home office

ORLANDO, Fla. – Sept. 14, 2010 – A home office is a wonderful asset, so design it carefully. Here are some pointers to keep in mind:

• Privacy is important. Choose a location as far away as possible from children’s play areas, the TV room, the kitchen and other hubs of family activity.

• Do you need proximity to the door? If you expect to receive clients in your office, make sure they don’t have to walk upstairs past the bedroom to attend a business meeting.

• Is the space big enough for office equipment? Before you move in, measure the desk, bookshelves, file cabinets and other furniture to make sure it will fit in the designated space.

• Get electrical assistance. Your home office will certainly need more outlets than it did before it was an office. Don’t rely on power strips. Get expert assistance.

• Add some soundproofing. Consider replacing the drywall with a special soundproofing variety and hang a new solid-core door.

• Decorate thoughtfully. If you’re going to be spending a lot of time in your office, and especially if you’ll have clients there, take time to choose nice decor.

Source: Gannett News Service, Rosie Romero (09/09/2010)

FSU Real Estate Program Ranked No. 2 in the World for Faculty and Research

I [Justin] am a proud graduate of the FSU Real Estate Program and they just keep getting better. Here's a great article on the program and staff. 

08/11/2010 02:23 pm

Research productivity, a measure of the amount of scholarly research conducted by university faculty members and subsequently published in peer-reviewed journals, is widely used as a basis for comparison when scrutinizing the academic quality of similar programs in different institutions of higher education. And according to one such ranking, the real estate program in the Florida State University College of Business is among the very best in the world.

An article just published in the Journal of Real Estate Finance and Economics — a top academic journal for scholarly papers on real estate finance — places Florida State’s real estate program at No. 2 in the world for faculty research published in the three core academic real-estate journals from 1973 to 2008. That represents a major jump from the No. 26 spot that the program held in a previous ranking.

Only the University of Connecticut ranked ahead of Florida State, which was followed by the University of Florida and the University of California-Berkeley.

Caryn Beck-Dudley

Visit SpringerLink.com to download a PDF version of the Journal of Real Estate Financeand Economics article and rankings.

“The caliber of research in the real estate program is of the highest quality,” said Caryn L. Beck-Dudley, dean of the College of Business. “These rankings reflect an immense effort from the internationally acclaimed faculty and a dedication by private donors to enhance our program.”

Fueled by private donations and corporate support to the program, the real estate program has worked to recruit and retain the best real estate scholars in the world. A gift from Harold and Barbara Chastain created the J. Harold and Barbara M. Chastain Eminent Chair, which is now held by C.F. Sirmans, a world-renowned real estate scholar. The Journal of Real Estate Finance and Economics article ranked him No. 1 in the world in individual research productivity from 1973 to 2008, while his brother, G. Stacy Sirmans, the Kenneth G. Bacheller Professor of Real Estate at Florida State, ranked 20th.

“It has been a great opportunity to come to the Florida State College of Business,” C.F. Sirmans said. “The faculty have been able to form a cohesive team that spurs industry-changing research opportunities as well as a fostering an individualized approach to education. The advancement of our real estate program and development of our faculty is due in large part to the support of our private donors to whom we are very appreciative.”

C.F. Sirmans

The real estate program is well known and respected throughout the country. This year, U.S. News & World Report ranked the undergraduate portion of the program No. 9 among public institutions in the United States, and No. 12 among both public and private institutions.

“The success of our faculty and their various areas of expertise have created a real estate program that is unlike any other,” said Dean Gatzlaff, the Mark C. Bane Professor of Business Administration and director of the Center for Real Estate Education & Research at Florida State. “We are able to offer an education that carries the weight of international expertise while providing the individual attention that allows students to truly succeed.”

http://www.fsu.com/News/FSU-real-estate-program-ranked-No.-2-in-the-world-for-faculty-research

 

5 Great Neighborhoods in Orlando

Orlando's quintessential 'old money' neighborhood, Winter Park is characterized by nice homes, cobblestone streets and oak trees covered in Spanish moss. Claudia Zequeira

NORTH

Winter Park

An independent city created for northern snow birds, Winter Park is Orlando's quintessential "old money" neighborhood. Posh boutiques and museums dot this charming enclave where the women are just a little bit blonder and a little bit thinner than anywhere else. Cobblestone streets are the norm here, as are wonderfully old oak trees covered in Spanish moss. Rollins College is the town's cultural center, with its chapel serving as the backdrop of a popular classical musical series.

Neighborhood residents -- largely well-to-do families -- have more than a few cultural gems in their own backyard, such as the intimate but stunning Charles Hosmer Museum of American Art, which holds a respectable collection of works by Louis Comfort Tiffany. Fine dining options and specialty shops are abundant here, particularly along well frequented Park Avenue, but residents may also enjoy less expensive fare: a Saturday farmers market at 200 W. New England Ave. offers fresh produce, exotic spices, baked pies and homemade jellies, among other treats. Wonderful ethnic options are also available, such as Sazon436 on Semoran Boulevard (State Road 436), which was voted Orlando's Best Puerto Rican restaurant in a recent Orlando Sentinel survey.

Read more 

 

Market Pulse: September 2010

	September 2010
Members of the Orlando Regional REALTOR® Association reported completed sales on 2,429 homes in August, which is a 10.91 percent increase over the August 2009 mark of 2,109. To date, Orlando area home sales are up 36.12 percent over this time in 2009. > Read the Media Release   > Read the Talking Points

For a printable version of this report, please click here 

ORRA Originated Sales
August 2009	5.26%	16,361	4,232	3,324	8,237	436	787	1,259	2,190*	94*
Sept. 2009	5.09%	15,967	4,030	3,858	8,790	857	846	1,014	2,292*	96*
October 2009	5.02%	15,743	4,165	3,864	9,050	857	924	646	2,319*	92*
Nov. 2009	4.95%	16,002	3,758	3,023	8,633	1,007	636	1,047	2,329*	85*
Dec. 2009	5.03%	15,549	3,485	2,984	8,163	875	1,419	916	2,410*	89*
January 2010	5.05%	15,911	4,279	3,579	8,590	956	691	1,048	1,820*	89*
Feb. 2010	4.96%	16,051	4,586	4,043	9,462	960	601	1,064	1,973*	91*
March 2010	4.99%	16,223	5,282	4,662	10,179	1,195	680	1,233	2,610*	91*
April 2010	5.12%	15,766	5,116	5,221	10,832	1,331	579	1,540	2,644*	81*
May 2010	4.89%	15,963	4,304	3,669	10,351	1,161	553	1,187	2,783*	83*
June 2010	4.84%	16,304	4,470	3,736	9,625	1,343	743	1,294	3,059*	85*
July 2010	4.67%	16,563	4,388	3,793	9,133	1,224	709	1,182	2,516*	84*
August 2010	4.61%	16,535	4,146	3,892	8,945	1,277	613	1,285	2,429	84

* Monthly revised sales. Complete stats and data may be found under Housing Statistics at orlrealtor.com. Comments or suggestions? Contact Mike Blinn, Statistician. Market Pulse™ data represents all listings taken or sold by ORRA brokers, regardless of location and is exclusive to residential property, which includes townhomes, duplexes, single-family homes, and condos. It does not include vacant land or commercial transactions.

Membership 8-10 8-09 ORRA 8,748 9,070 Affiliates 301 279 Applicants 121 134
Unemployment Rate Orlando MSA July 2010 11.7% July 2009 11.0%
Market Pulse  printing instructions For a printable version of this report, please click here
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Home Sales Are Back On The Rise After A 2-Month Pullback

Just one week after reports of Existing Home Sales and New Home Sales plunging, the housing market is signaling that auturm may fare better than did summer. The number of homes under contract to sell rose 5 percent in July. The data comes from the July Pending Home Sales Index, as published by the National Association of Realtors®. By definition, a “pending home sales” is a home that is sold, but not yet closed. Historically, 80% of such homes close within 60 days which makes the Pending Home Sales Index an excellent, forward-looking indicator for the real estate market. Indeed, the nationwide drop in home sales this summer was foreshadowed by the Pending Home Sales report.  The index dropped 30 percent in May. Then, two months later in July, it was shown that Existing Home Sales volume dropped 29 percent. That’s a strong correlation. Now, to be fair, the July Pending Home Sales Index is still relatively low; the second-lowest on record and well below last year’s numbers. But, the tick higher last month shows how housing may be stronger than than what the headlines report. It appears that buyers in Lake Mary took advantage of rising inventory, cheap financing, and stagnant prices, and pushed the market forward. We should expect similarly promising numbers when September’s Existing Home Sales data is released.

How To Change A Showerhead

There’s plenty of reasons to want to change a showerhead in your head. Perhaps you’re trying to fix a leak in the faucet; or, remodeling your bathroom; or, trying to conserve water via a low-flow showerhead.  Whatever the reason, changing a showerhead can be a basic do-it-yourself project. The tools aren’t complicated and the job is a quick one. In this 2-minute video from AOL, you’ll learn: What tools you’ll need to change the showerhead How to remove your old showerhead How to firmly attach your new showerhead to prevent leaks If you get stuck, or just want to outsource, call a professional handyman to finish the job. Changing a showerhead should take less than a hour to complete.

Home prices gain 3.6% in past year

By Les Christie, staff writer

August 31, 2010: 9:53 AM ET

NEW YORK (CNNMoney.com) -- Despite a recent spate of bad news coming out of the housing industry, home prices show signs of stabilizing.

National home prices jumped a substantial 3.6% in the past year, according to the S&P/Case-Shiller Home Price Index released on Tuesday. Prices also climbed 4.4% in the second quarter compared with a 2.8% plunge in the first quarter.

"While the numbers are upbeat, other more recent data on home sales and mortgages point to fewer gains ahead," said David M. Blitzer, chairman of the Index Committee at Standard & Poor's. "Even with concerns about near term developments, we recognize that the housing market is in better shape than this time last year."

Of course, the positive report was buoyed by the government's tax credit program, which refunded as much as $8,000 for homebuyers. With that program now over, markets could cool.

"We all know what happened to housing after the homebuyers tax credit ended," said Mike Larson, real estate analyst for Weiss Research. "It's been an Acapulco-sized cliff-dive."

QUIZ: Are you an All-American homeowner?

And because this report is a lagging indicator, Larson adds that "it would be foolhardy to think that this report tells us that prices will continue to rise." Instead, he expects prices to slowly deteriorate over the next several months.

In fact, home prices across the country could be substantially lower a year from now, according to Pat Newport, an analyst with IHS Global Insight. "It's now apparent that the demand for housing is a lot weaker than anyone thought," he said.

That has resulted in a glut of inventory, which a slew of bank repossessions of foreclosed properties is only making worse. Plus job gains are still proving elusive.

"These three factors are enough to bring home prices down," Newport said.

Winners and Losers

A market basket of 20 metro areas tracked by the S&P/Case-Shiller home price indexes showed that prices gained in all markets but one. The index is up 4.2% year-over-year, well above a 3.1% forecast from industry experts as compiled by Briefing.com. The month-over-month gain was 1%.

"Las Vegas was the only city to record a fall in prices during June (-0.6%), compared with a month earlier. All 19 other markets were either up or flat, with Chicago, Detroit and Minneapolis the biggest winners. Each gained 2.5%.

Fifteen of the 20 cities recorded 12-month price rises, with San Francisco leading the way. Its 14.3% increase was one of three cities posting double-digit gains, with San Diego prices jumping 11.2% and Minneapolis 10.7%

 

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Just Reduced

Reduced to $699,900 on Tuscawilla Golf Course.

6 quick fixes for your credit score

Q:  What do you advise a financially fit homebuyer to do to increase their credit score or make themselves more attractive buyers, to qualify for the lowest mortgage rates?

A:  A FICO score of 700 (FHA)/740 (Conventional) or better qualifies you for the lowest rates. In fact, it qualifies you just as well as a higher score, so if you’re at or over 700/740, there’s no loan qualification rationale for investing effort into boosting it.  But these are firm breaking points. The difference between a score of 698 and a score of 700 (in an FHA loan scenario) can cost you a quarter of a point in interest, or thousands of dollars over the life of your mortgage.

I’ve found that people asking about how to boost their credit to qualify for the best interest rates is similar to people asking me how to lose weight: I tell them the truth, then their eyes glaze over when I give them the straight dope, no magic bullets.  No one wants to hear: eat vegetables, cut the sugar, and exercise; similarly, they don’t want to hear pay your bills on time, every time. 

But I’ve been asked this question a lot recently, so here goes, anyway!
    
1.    Pull your reports online – get them for free, no strings attached, at the government authorized website AnnualCreditReport.com.  This doesn’t get you your actual FICO scores, but it does get you the content of your report. Look for errors that could be depressing your score, like accounts that don’t belong to you, balances that are actually lower than reported, old debts that are paid off that should have been removed entirely (7 years for credit cards, 10 for bankruptcies). 

2.      Consider reopening accounts you thought were open but have been closed because you haven’t used them in so long - it will help boost your utilization ratio, one element of your credit score that is dependent on how much available credit you have.

3.      Pay down some debt.  This both decreases your debt-to-income ratio (36% is the goal, including the proposed mortgage payment) and increases your credit score, if you do it right (see the next tip).

4.     Don’t close any accounts.  Instead, spread your debt out. The ideal utilization ratio is about 20-30% of your available credit overall, and on any given account.  Closing accounts reduces the amount of credit that is available to you, so it makes it look like you’re closer to being maxed out. 

So if you have one card that’s near its max and several others that have zero balances and you’re trying boost your score a bit, quickly, consider balance transfers to spread our your debt more evenly, aiming for 20-30% of the available credit on each card.

5.     Use your credit regularly – and pay it on time, every time:  Having a good FICO score doesn't happen because you have sound personal finances, including no debt. FICO scores are a measure that shows that you have a history of responsibly using andmanaging and repaying your debt on an ongoing basis. 

6.      Finally, check in with your mortgage broker.  Have them pull your report and score, as the report they pull is the one they’ll have to go by in the final analysis.  If you’re really close to a score level higher, that would empower you to qualify for a lower rate, they can actually run a credit diagnostic on your score and generate some recommendations for which actions you could take to raise your score by the needed few points. Then many of them can do what’s called a ‘Rapid Rescore’ – once you’ve paid that bill off, they can actually submit a request directly to the credit bureaus to update that information and your score in just a few days.

None of these tips will get someone with a 500 credit score to a 700 (other than a massive debt reduction program).  But if you’re trying to get a little boost to get you over a credit score hump, these can be potent, and save you beaucoup bucks in interest.

6 quick fixes for your credit score

Q:  What do you advise a financially fit homebuyer to do to increase their credit score or make themselves more attractive buyers, to qualify for the lowest mortgage rates?

A:  A FICO score of 700 (FHA)/740 (Conventional) or better qualifies you for the lowest rates. In fact, it qualifies you just as well as a higher score, so if you’re at or over 700/740, there’s no loan qualification rationale for investing effort into boosting it.  But these are firm breaking points. The difference between a score of 698 and a score of 700 (in an FHA loan scenario) can cost you a quarter of a point in interest, or thousands of dollars over the life of your mortgage.

I’ve found that people asking about how to boost their credit to qualify for the best interest rates is similar to people asking me how to lose weight: I tell them the truth, then their eyes glaze over when I give them the straight dope, no magic bullets.  No one wants to hear: eat vegetables, cut the sugar, and exercise; similarly, they don’t want to hear pay your bills on time, every time. 

But I’ve been asked this question a lot recently, so here goes, anyway!
    
1.    Pull your reports online – get them for free, no strings attached, at the government authorized website AnnualCreditReport.com.  This doesn’t get you your actual FICO scores, but it does get you the content of your report. Look for errors that could be depressing your score, like accounts that don’t belong to you, balances that are actually lower than reported, old debts that are paid off that should have been removed entirely (7 years for credit cards, 10 for bankruptcies). 

2.      Consider reopening accounts you thought were open but have been closed because you haven’t used them in so long - it will help boost your utilization ratio, one element of your credit score that is dependent on how much available credit you have.

3.      Pay down some debt.  This both decreases your debt-to-income ratio (36% is the goal, including the proposed mortgage payment) and increases your credit score, if you do it right (see the next tip).

4.     Don’t close any accounts.  Instead, spread your debt out. The ideal utilization ratio is about 20-30% of your available credit overall, and on any given account.  Closing accounts reduces the amount of credit that is available to you, so it makes it look like you’re closer to being maxed out. 

So if you have one card that’s near its max and several others that have zero balances and you’re trying boost your score a bit, quickly, consider balance transfers to spread our your debt more evenly, aiming for 20-30% of the available credit on each card.

5.     Use your credit regularly – and pay it on time, every time:  Having a good FICO score doesn't happen because you have sound personal finances, including no debt. FICO scores are a measure that shows that you have a history of responsibly using andmanaging and repaying your debt on an ongoing basis. 

6.      Finally, check in with your mortgage broker.  Have them pull your report and score, as the report they pull is the one they’ll have to go by in the final analysis.  If you’re really close to a score level higher, that would empower you to qualify for a lower rate, they can actually run a credit diagnostic on your score and generate some recommendations for which actions you could take to raise your score by the needed few points. Then many of them can do what’s called a ‘Rapid Rescore’ – once you’ve paid that bill off, they can actually submit a request directly to the credit bureaus to update that information and your score in just a few days.

None of these tips will get someone with a 500 credit score to a 700 (other than a massive debt reduction program).  But if you’re trying to get a little boost to get you over a credit score hump, these can be potent, and save you beaucoup bucks in interest.

Oviedo Traveling Tuesdays via PickingWildFlowersBlog.blogspot.com

This is a post I just did on a friend of mines blog for her Traveling Tuesday Posts. She asked me to give the 411 on Oviedo/Orlando, so here is my post. Check out her blog as well: pickingwildflowersblog.blogspot.com

Name: Justin Core (and his wife, Megan Bevis Core)

Occupation: Realtor

Blog: CoreRealEstateGroup.blogspot.com 

Location: Oviedo, FL (Orlando)

What major cities or landmarks are your city close to? Anytime I'm asked this question, Disney is the obvious answer and out-of-towners assume I venture there on a weekly basis. Truthfully, I could not recall the last time I made it to the "happiest place on earth" until we decided to go last weekend for my wife's birthday. After a morning full of the classic rides at the Magic Kingdom with surprisingly reasonable wait times, we hopped on the monorail for a quick trip over to Epcot to drink around the world. We began in the UK with a beer sampler, stopped in Germany for a Flight of Wines, and ended gracefully with Margaritas in Mexico. Disney is a good 45 minute drive from Oviedo and well worth the drive but expect it to be an all day adventure.

The University of Central Florida is also minutes from downtown Oviedo but somehow the 50,000 students who flock to the campus every fall and their brand new stadium do not spoil the quaint feel of small town Oviedo.

downtown Orlando from across the beautiful Lake Eola

How long have you lived there? I've lived in Oviedo since 1994, with the exception of my 4 year stint for college in Tallahassee (FSU).

If you moved here after living in a different city, where did you move from? I was born in Huntsville, Alabama and moved to Florida when my dad was transferred for work. All of our family is still in Huntsville so we have always visited regularly. Although Huntsville is not a small town, it has many small town tendencies and aspects. We found the same thing in Oviedo when we came here and it is really what has kept us here for so long. Although Oviedo doesn't have a lot to offer, in the way that a town like Orlando does, it does have a very quaint atmosphere. 


For instance, Oviedo is known for chickens that roam freely throughout the downtown. There are bumper stickers all throughout Central Florida that say "I brake for Oviedo Chickens," and that's how our town is known. Growing up in a town like Oviedo, you do everything you can to find your way out. I did find my way out for four years and at some point during that time began to fall back in love with the town for all new reasons. I did move back and began to see it in an all new light. It has something for everybody because it is a small town that is so close to a major city and all of the tourist attractions that go along with that. 

What's the climate like? Hot, humid, and muggy. Winter is cool and dry but short, and fall is nice but hurricanes are frequent. Spring is the time of year to come if you are going to the parks and summer is the time of year if you are coming for the beach. 


Personally, I find cold weather miserable unless I'm in the Rockies skiing and to me. There are a few weeks in late January and February that are bitter cold, but it is not uncommon to venture over to the beach New Year's Day to enjoy the occasional warm sunshine. When it is cold however, I dream of the days of the scorching summer heat, but I seem to remember once again how HOT it can really get once summer rolls back around. Late summer, around July and August, we have temperatures over 100 degrees with 100% humidity. That's hot!

What are some of your favorite weekend things to do in your town? The best thing about this area is that there truly is something for everyone. For a relaxing Saturday morning, the Winter Park Farmers Market is a must. Just off Park Avenue there is a farmers market that draws vendors from all over Central Florida on a weekly basis. The streets get crowded so make sure to get there bright and early to beat the crowds and the heat. 

Winter Park Farmer's Market

New Smyrna Beach is a local favorite and still remains a hidden treasure, unspoiled by the heavy tourist population that invades the Florida coastline every summer. New Smyrna's Flagler Avenue is just two short blocks from the beach and is truly a relaxed beach town. You can drive on the beach and stop on your way out of town to visit a long-time local favorite Frozen Gold for a sweet ice cream treat. You're guaranteed to enjoy yourself at the beach, the food, and the atmosphere.

For the sports fans (or those just looking for a good time), an Orlando Magic game (during season) is a must. The Magic have always had a great fan base, atmosphere, and venue, but all of that has increased as of late. The Magic have played in two straight Eastern Conference Championships and are putting their final touches on their new state-of-the-art Amway Center. The intensity is higher than it has ever been and the entire City of Orlando is ecstatic about the outlook of the team. 

What is your town known for?

Free Roaming Chickens! And we love it.

What are some of your favorite restaurants in your city?

Oviedo:

Breakfast - Big John's Country Cookin' & Townhouse Restaurant (in a close second)
Lunch - Tijuana Flats 
Dinner - Gino's Pizzeria, Froggers

Winter Park/Orlando:
Breakfast - Uncle Henry's Country Grill, First Watch
Lunch - Four Rivers Smokehouse
Dinner - Dexter's, Boston Fish House, & anything on Park Avenue in Winter Park

Tell us why you love your city? Oviedo is everything you could want from a small town within minutes of a larger city. It is close enough to the tourist attractions to venture often but not so close that it feels like one itself. Oviedo loves it's high school football team, sweet barbecue, quiet backroads, pick-your-own strawberries, and you'll never forget the smell of orange blossoms in bloom. On any given day you eat a $3 breakfast at Big John's and spend a bundle on dinner at one of the top tourist destinations in the world [Disney] or walk on the most famous beach in the planet [Daytona Beach]. Oviedo is a great place to live and vacation.