Yosemite Gateway Properties

and Lifestyles

January 2006

Ed Note 

How Much is Your Home Worth?

Have you tried one of those ‘free’ home value websites advertised on TV?  Give them your name, property address, e-mail address, telephone number and lots of other information and they will tell you how much your home is worth – NOT LIKELY!

They will, however, put you in touch with someone, or rather, put someone in touch with you.  They sell names and information through a subscription service to local Real Estate Agents.  Once you submit the request you become a marketable “Listing Lead.”  One of their subscribing agents will contact you and provide you with what is usually a good estimate of your home value, in the hope of listing your home for sale.

So, why go to the website to get the information you want?  You can choose your own local information source   If you know an agent that you have confidence in or you know someone who has used a particular agent with good results, you may want to call that agent and ask for a free CMA (Comparative Market Analysis).   Most agents are willing to provide it for you without obligation or commitment on your part.   Agents want to build good will in the community, and are usually willing to help. 

If you don’t know an agent that you wish to use, feel free to call me.  I will be glad to help.

Some Sound Home Advice

Six Steps to Credit Success

Step 1: In the credit world, history means a great deal. Paying your bills on time, every month, improves your history. Remember, many credit cards have eliminated the ‘grace period,’ and if you are late two times in a 12 month period, they can and often do increase your interest rate. So not only is your credit score adversely impacted when you are late, it can cost you money!

Step 2: Too many accounts opened in a short period of time can have a negative impact on your ability to obtain the best mortgage. Your ability to obtain capital for homes and large purchases are tied to your credit score, and the rate in which you open accounts will impact that score. 

Step 3: Try to keep your credit card balances low. Keeping your available credit balances below 50% or so will keep your credit score higher. Remember, the more you charge, the more you pay!

Step 4: Opening multiple accounts means multiple hits on your credit record. Even if you do not charge anything on an account, the ‘hit’ on your record can have a negative effect on your score.

Step 5: Keep an eye on your credit history. Credit fraud is huge and it can take months to clear up issues.

Step 6: Build your savings! Slow down the spending and charging and put more money into savings and or investments. Building wealth is a process and the more you save, even if it is a slight amount in the beginning, will pay off big down the road.

 Please contact Barry Bailey at Northstar Network, Inc., Real Estate Lending

Email: barry@northstarloan.com or toll free at 800-869-0811

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