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Best of Summit - Voting is Now Open!

by Allison Simson

Happy Tuesday Morning to YOU!

 The Summit Daily News is conducting its annual "Best of Summit" contest and again this year Allison Simson- Summit Real Estate is one of the nominees for Best Real Estate Agent!  We are thrilled to be included and would be so honored to have your vote!

With your support, Summit Real Estate has been voted one of Summit County’s top 3 favorite real estate companies for the last five years in a row!  We'd love to be your favorite again in 2014. THANK YOU! 

It's a fun contest and if you'd like to vote, we've included the online link for your convenience. Click on the icon below!

To begin making your choices for your favorite Summit County establishments, you will need to sign in, or register as a new user. We’ll send you the full report of all the favorites when it comes out!

Kindly click through your choices until you get to the Best of 2014 – Best Real Estate Agent category - Vote Allison Simson –Summit Real Estate Click the Best of Summit Icon below that will direct you to the link to vote.

We appreciate YOU. Voting ends July 16.  Just click on the icon below:


 

We are beyond grateful for your consideration, and who knows?  You might just make our year!

And Here's Your Morning Coffee!

5 Reasons to Sell Now!

by Allison Simson

5 Reasons to Sell Now!

5 Reasons to Sell Now | The KCM Crew

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can buyers qualify for a mortgage?  These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are five of those reasons.

1. Demand is Strong

There is currently a pent-up demand of purchasers as many home buyers pushed off their search this past winter because of extreme weather. According to the National Association of Realtors (NAR), the number of buyers in the market, which feel off dramatically in December, January and February, has begun to increase again over the last few months. These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition Now

Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future. Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the 2014 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. As the market heats up, banks will be inundated with loan inquiries causing closing timelines to lengthen.  Selling now will make the process quicker and simpler.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 19% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate in the low 4’s right now. Rates are projected to be over 5% by this time next year.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market and pricing it so it sells. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Want to Sell You House? Price it Right!

by Allison Simson

Want to Sell Your House? Price it Right!

4.14 BlogThe housing market is recovering nicely. Prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly. Now may be the perfect time to sell your home and move to the dream house or beautiful location your family has always talked about.

The one suggestion we would definitely offer: DON’T OVERPRICE IT!!

Even though prices have increased by more than 10% over the last year, the acceleration of appreciation has slowed dramatically over the last few months. As an example, in their April Home Price Index Report, CoreLogic revealed that home prices actually depreciated by .08% this month as compared to last month’s report. What concerns us is that Trulia just reported that asking prices are still continuing to increase.

Because investor purchases are declining and there are more listings coming onto the market, we believe that sellers should be very cautious when they price their house. The alternative might be that you could lose money by overpricing your home at the start as explained in a research study on the matter.

Bottom Line

Though it is a great time to sell your house, pricing it right is crucial. Get guidance from a real estate professional in your marketplace to ensure you get the best deal possible.

Is it worth it to remodel?

by Allison Simson

Happy Tuesday Morning to YOU!

It's spring and lots of us get the urge to purge and spruce up our surroundings.  

Spring time = Spring Cleaning! 

Where should you spend your $$?  Take a look at some of these sources from the National Associaton of Realtors for some ideas on what pays off and what is best left undone.

Field Guide to Remodeling

What remodeling job has the best return on investment? Where should you start when remodeling an older home? New resources are becoming available and even more important during these times. The home remodeling industry has enjoyed even more growth and will reach new heights in the future. You can't afford to miss this Field Guide if you're planning a home improvement or restoration project. (D. Winchester, Information Specialist)


Selected 2013-2014 Cost vs. Value Report Statistics - Average Nationwide Return on Investment:

Deck addition – 87.4%
Major kitchen remodel – 63.6%
Bathroom remodel – 63.6%
New roof – 63.0%
Basement Remodel – 77.6%

Source: 2014 Cost vs Value Report, (REALTOR® Magazine, Jan. 2014).  Check this one for more specific, location-centric info!


Return on Investment- 10 articles that can help!

Happy spring cleaning/purging/remodeling/sprucing!  If you own property in Summit County, and would like some suggestions on what changes you could make to maximize the value of your property, just let us know!  We are experts at staging your home to sell, maximizing your rentals or just enjoying more!

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221 BUFFALO DR

Price: $229,000

Beds: 2

Baths: 2

Sq Ft: 1023

This one has that "tucked in the woods" feeling with Lake views and is just a few minutes to town and great skiing. Low expenses with this roomy condo that is adjacent to open space - trails nearby! Lovely place with cozy fireplace and W/D in unit. ...

View this property >>

And Here's Your Morning Coffee!

Buyer's Market? Seller's Market?

by Allison Simson

Happy Tuesday Morning to YOU!  

We hear a lot about the market in the media - and in basic cocktail conversations, but what does it mean?  Is is a buyer's market?  A seller's market?  Nobody's market???  How do we evaluate this? 
Actually, it's pretty easy.  Here's a quick paragraph that you can use to dazzle your friends and neighbors at the next party:

One Key Metric for Local Real Estate Market Health
How do you know if your market’s recovering or not?
Regardless of what your buyers and sellers hear in the national media, we all know that real estate markets are localized economic systems with complex factors influencing pricing, inventory, and trends.
So how do you know if your market has hit bottom, is still sliding down, or is showing signs of recovery? What key indicator should most influence your opinion?
According to the talented real estate mind of Bernice Ross, there’s one simple, precise indicator: How many months of inventory are on the market? Here’s Ross’ opinion on market health:
More than 8 months inventory = “rocky buyer’s market”
Between 7 – 8 months inventory = “market is more balanced -bottom may be behind you”
Less than 6 months inventory = “good news, early signs of recovery”
To determine “months of inventory” use this equation:
Months of inventory = (total # of active listings)/(average # of monthly sales over the prior 12 months)

In Summit County currently, we are in a recovering market with regard to inventory.  Some segments are still really high and some are super low, but overall, the months of inventory in Summit County is about 7.  Balanced.

If you would like the specifics on a particular segment, just let me know.  I'm happy to give you the stats!   

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195 River Run RD

Price: $389,000

Beds: 2

Baths: 2

Sq Ft: 912

Jackpine- closest building to the gondola -knows how to work every angle. Great floor plan, beautiful upgrades- just steps to the slopes! Granite-stainless-slate-the works! Pretty fireplace to warm every cozy corner. Tucked away, but close to everyt...

View this property >>

And Here's Your Morning Coffee!

A Market Recap That Makes Sense to Everyone

by Allison Simson

Happy Tuesday Morning to YOU

Spring break is in full swing here in Summit County!  We have had countless blue-bird blue skies and tons of fluffy powder!  Ahhhhhh, just another day in paradise!

We hear so much in the media about the state of the market and interest rates that it can be so overwhelming.  I received this quick recap from a lender we work with, Rod Shuster with Universal Lending, that I can UNDERSTAND and is actually pretty INTERESTING!!  I thought you might enjoy it, too.  

MARKET RECAP

The Fed Giveth; Will It Taketh Away?

More than 200 years ago, Mayer Rothschild, founder of the Rothschild banking dynasty, uttered one of the more profound observations on finance and power. “Permit me to issue and control the money of a nation,” said Rothschild, “and I care not who makes its laws.”

Rothschild recognized that money matters, and it matters a lot. Money is, after all, 50% of every transaction. The importance of how much money is in an economy and the interest to be charged on that money cannot be understated.

Because the quantity of money and the interest charged are so important, much time and attention are extended to the Federal Reserve. The Fed is, after all, our central bank and manages our money supply and the interest to be charged on that supply. When Fed officials speak, markets always listen.

Fed Chair Janet Yellen spoke to Congress this past Wednesday, and markets listened, and for good reason: Ms Yellen offered more insight on quantitative easing (QE) – the Fed's purchases of Treasury notes and bonds and mortgage-backed securities (MBS) – and the direction of interest rates. In short, QE is going down and interest rates are going up.

As for QE, it's likely to end by December. The Fed has already reduced its monthly purchases of Treasury notes and bonds and MBS to $55 billion per month effective in April. Should the Fed continue to reduce its purchases at the rate of $10 billion per month, as it has for the past three months, there will be no QE by January 2015.

As for interest rates, Ms Yellen hinted that they could commence rising within six months after QE ends. This means the fed funds rate, in particular, would likely begin to ratcheted up sometime in July 2015. The fed funds rate is currently near zero, and many market participants doubt it will stay there. Futures markets are now pricing a 0.50% fed funds rate by August 2015.

In short, we should expect meaningfully higher mortgage rates this time next year.

As for the here and now, Bankrate.com's and Freddic Mac's most recent weekly surveys actually showed the rate on the 30-year fixed-rate mortgage down week over week. But we need to note that these surveys were winding down just as Ms Yellen was winding up. On Wednesday, rates on most mortgage products moved higher, though not disconcertingly so.

We're even more convinced that we'll likely see 5% on the 30-year fixed-rate loan by this time next year. Note that we say “likely,” not “guaranteed.” Ms Yellen offered her projections with many caveats and hedges based on growth prospects. As it now stands, though, the Fed expects economic growth could run as high as 3.5% annually in 2015, with the unemployment rate falling to as low as 5.4%.

If the Feds more bullish forecasts come to fruition, rising mortgage rates shouldn't be feared. But that means it becomes more urgent to act sooner on locking in a loan rate. The window on the rates that prevail today will close sooner than many borrowers anticipate.

 

Economic
Indicator

Release
Date and Time

Consensus
Estimate

Analysis

S&P Case/Shiller Home Price Index
(January)

Tues., March 25,
9:00 am, ET

13.0%
(Year-Over-Year Increase)

Important. Slippage in price gains will likely be seen in more local regions.

New Home Sales
(February)

Tues., March 25,
10:00 am, ET

450,000 (Annualized)

Important. Weather will have slowed sales for the month.

Mortgage Applications

Wed., March 26,
7:00 am, ET

None

Important. Low purchase activity suggests owner-occupied buyers remain sidelined.

Gross Domestic Product
(4th Quarter 2013)

Thurs., March 27,
8:30 am, ET

2.5% (Annualized Growth)

Important. GDP growth has slowed due in part to atypically bad weather.

Pending Home Sales
(February)

Thurs., March 27,
10:00 am, ET

0.1% (Increase)

Important. The sales freeze in recent month is showing signs of thawing.

 

Enjoy the week! Here is our featured listing of the week: 

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62 TWENTY GRAND CT

Price: $429,000

Beds: 3

Baths: 3

½ Baths: 1

Sq Ft: 1915

In the heart of Wildernest, this gracious townhome was created to very comfortably accommodate a large family- retreat style! Lovely finishes & furnishings w/ pretty hardwood floors that shine. Loads of space for you & all your gear. Tucked away w m...

View this property >>

Thinking About Buying? 5 Reasons to Act Now

by Allison Simson

5 REASONS TO BUY A HOME NOW

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying.

1. Competition is about to Increase

Every spring a surge of prospective purchasers enter the housing market. Like you, they will want the best home available in the best location at the best price. They will be competing with you for the ‘steals’ in the market. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy available today that no longer be available as the market heats up..

2. Price Increases Are on the Horizon

Nationally, home prices are projected to appreciate by 4.5% in 2014 and by over 19% from now until 2018. First home buyers will probably pay more both in price and interest rate if they wait until the spring. Even if you are a move-up buyer, it will wind-up costing you more in net dollars as the home you will buy will appreciate at approximately the same rate as the house you are in now.

3. Owning a Home Helps Create Family Wealth

Whether you rent or you own the home you are living in, you are paying a mortgage. Either you are paying your mortgage or your landlord’s. The Federal Reserve, in a recent study, revealed that the net worth of the average homeowner is 30 times greater than that of a renter.

4. Interest Rates Are Projected to Rise

The Mortgage Bankers Association, the National Association of Realtors, Freddie Mac and Fannie Mae have all projected that the 30-year mortgage interest rate will be over 5% by the spring of 2015. That is an increase of almost 3/4 of a point over current rates.

5. Buy Low, Sell High

Most would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’ compared to where it will be next year. It’s time to buy.

 

Summit County Scoop

by Allison Simson

Happy Tuesday to YOU!

We were fortunate to attend the "State of the County" meeting hosted by the different town managers a week or so ago.  Here are some of the highlights and tidbits about what is happening around the county:

Silverthorne - Ryan Hyland

  • Smith Ranch - 50 acre parcel; town is working with Summit County Housing Authority to build affordable housing.  There will also be an additional 11 acres of commercial space next to the road
  • Built a new Xcel substation
  • Pavilion Revenue up 36%, lots of events and shows being held there
  • Rec Center trying to expand space without expanding the walls; this means the racquetball courts will be going away
  • A new brewery will be going in the old Village Inn building
  • Want a place that is economically viable and supported by the community
  • Hampton Inn applied to build a hotel in Summit Place shopping center (next to Mountain Sports Outlet) was approved –sort of... with 22 conditions- it may not be happening anytime soon!

Frisco - Bill Efting

  • The so-called "Christmas tree lot: was sold to Gerald Hines, an Aspen Developer, no plans have been submitted
  • Whole foods currently hiring – Grand Opening end of April / beginning of May
  • Step up Main Street: starting in the fall – narrowing main street and widening the sidewalks; improving the drainage of 6th and 7th Avenues; re-doing curbs
  • Revenue at the Frisco Marina is up due almost entirely to stand-up paddle board rentals
  • Best Western sold for $7.3 million – gave real estate tax huge boost in 2013
  • Frisco Adventure Park – $1.3 million in revenue just from the tubing hill, might put in another Frisbee golf course – trying to create a long term plan for the area
  • Frisco BBQ Challenge will be the 2nd weekend of June, the competition spots sold in 25 minutes!

Dillon - Joe Wray

  • Sales tax revenues up 7% - putting money in the reserves and savings
  • Petco should be opening in the late spring or early summer in the old Borders building
  • Putting another $300,000 in the marina to finish the parking lot this year and add more slips - currently have 300, adding a few 100 more
  • Over 100 events during the year – concerts (thinking of adding some Wednesday/Thursday nights) and Friday Farmers’ Market.
  • Dillon BBQ will be expanded to become more of a summer festival rather than just a BBQ – more music
  • April 1 ballot issue for pot – over the next few weeks there will be public forums held to discuss regulations
  • As of right now there can be no churches in the center of Dillon, changing that – One Community (which has been meeting in the movie theater) will be located in the ground floor of the La Riva complex

Breckenridge – Tim Regan

  • Want to expand the arts and culture at the River Walk Center – plans to start using it year-round
  • Almost all improvements at Breckenridge Ski Resort are taking place at Peak 8 and Peak 6 this year
  • Changing the Colorado chair to a six-pack this year
  • Opening of Peak 6 terrain
  • In the first 3 weeks, one marijuana retail store made $1 million, $60,000 in sales tax
  • 80% of pot buyers are from out of state, most of the purchasers are 60-70 years old
  • Possible roundabout at French St
  • CMC Breckenridge – considering dormitories/housing especially  for 4-year students 
  • Only 45% of people who work in Breckenridge live in town - don’t want to become an Aspen where everyone has to live elsewhere due to costs

Summit County – Gary Martinez

  • Revenues up overall 12.5% - first up since 2005, this means that A-Basin, Keystone and Copper are starting to come back
  • Property values down 17% overall; however, the next period looks strong - so far seeing an 8% property value increase in most recent tax evaluations
  • Summit County building department was busiest ever 2013 - $96 million in permits (includes any and all permits)
  • New South Ranch library in old CMC building in Breck planning for opening November/December
  • Working with Frisco to buy parcel from Forest Service along Dillon Reservoir to built affordable housing
  • Old Dillon Reservoir: Stocked with golden trout (not native to the area but isolated in Old Dillon), went from 50 acre feet to 300 acre feet; currently half full, expected to fill up with the run-off this spring
  • Talking about extending bike path over Leadville through climax.
  • Vail pass path also improved – joint effort between Summit and Eagle counties
  • After Iron Springs changes to Hwy 9, the bike path will be able to go all around the lake
  • Dillon Reservoir is 4ft to 5ft down, usually lower this time of year but Denver Reservoirs are full so they are not drawing water from Dillon right now
  • 2014 Spring Break supposed to be the largest Summit County has ever seen
  • By the end of 2015, CDOT is are hoping to have a “hard shoulder” on I-70 that can be used as an HOV/Toll Lane during peak traffic times! 

So much going on in our lovely little Summit County! 

Here's a tasty listing in Keystone for you to check out:

 

Image Unavailable

120 Tennis Club Road RD

Price: $195,000

Beds: 1

Baths: 1

Sq Ft: 933

A very happy, simply delightful getaway tucked among the pines and lush with beauty. Gorgeous wooded setting that is infused with lots of light. Superb clubhouse. Free shuttle line & minutes to the slopes. Big closets and extra ski storage make room...

View this property >>

And Here's Your Morning Coffee!

Summit County Market Update

by Allison Simson

Happy Tuesday Morning to YOU!

What's the Summit County real estate market up to? 

January 2014 Highlights:

  • Market Analysis by Area for January: The first month of  2014 was decent and very comparable to January 2013 with $52,155,100 in gross sales and 102 transactions. The average transaction price was $514,524. The average residential Price/square foot was $302. Frisco had a very high end commercial sale ( Best Western) that closed in January.
  • Market Snapshot for 2014 vs. 2013:  Values are as follows: Single Family -2%, Multi- Family +1% and Vacant Land -15% for the Average, and Median indicators: Single Family +17%, Multi- Family  -8% and Vacant Land +35%.  We are only comparing one month to the full year of 2013 at this time. 
  • Market Analysis % Change showing years 2004-2014 YTD: January monetary volume ($52,155,100) was down 2% from January 2013. Transactions (102) were down 6% from January 2013. 
  • Residential Market Sales by Price Point : Residential volume in January had 83 transactions with $38,988,500 gross volume.  There were 7 properties that sold for $1M and above in January.  The most active price points in January continue to be between $200K -$300K.   January had 26 Single family, 57 Multi-family and 7 vacant land transactions.
  • 2014 Average Price History: Average residential pricing continues to be consistent as of January - Single family is $736,719, Multi- family is $347,961  and Vacant Land is $276,643. Our market is holding value!!
  • Loans vs Cash: There were 627 loans in January, 48%  were related to sales and 52% of the sales were cash at closing.
  • Buyer Highlights:  In January, the majority of second homeowner real estate transactions continue to be the Front Range demographic at 48% of our market, only 22% are local and 30% are out of state buyers YTD. (Information courtesy of Land Title Guarantee Company)

For a more in-depth look at the individual towns in Summit, please click below!! 

1) Summit County Update
2) Breckenridge
3) Dillon
4) Frisco
5) Keystone
6) Wildernest_Silverthorne

And Here's Your Morning Coffee!

Check out this really great property in Wildernest:

Image Unavailable

102 TWENTY GRAND DR

Price: $495,000

Beds: 4

Baths: 3

Sq Ft: 2034

This huge duplex boasts 4 bedrooms + den, oversized 2 car garage, tons of windows & sleeps 15! Gorgeous views all around, from the lg master deck in front, to the lovely views of Buffalo & Red Mtns from the private hot tub & deck in back. Lg master ...

View this property >>

Credit Scores De-Mystified!

by Allison Simson

Happy Tuesday Morning to YOU!

Credit.  It's one of those things that I'd really rather not think about....and yet it does come up from time to time and can be a bit of a mystery! Credit is one of the 4 factors that lenders care about a great deal! One of our local lenders, Wendy Paulus, recently sent out a "Credit FAQ" that I found interesting...hope you like it, too!

How accurate is the credit report?

It is estimated that 80% of credit reports have inaccurate information.  Some of the inaccuracies are critical failures and some are simply recording errors.  It is always wise to check your personal reports annually with the 3 main repositories – Equifax, Experian, and TransUnion

Will you pulling my credit report lower my score?

When you pull your own credit, it is called a soft pull and there is no impact on your scores. Also your personal scores are not the same as the ones that lenders see.  When I, as a lender, pull your scores, it will have no impact on your score initially.  If you allow multiple lenders to pull your credit, the drop in score could be painful.  (as long as they are all done within 45 days, the systems sees them as 1 pull and you are ‘shopping’, not many pulls)

Does my income have any influence on my credit score?

Income is totally irrelevant to the scoring models.  The algorithms used only care about derogatory data; it is assumed you will pay on time and does not know where that money comes from.

Why are my scores different for the 3 repositories?

Each of the bureaus use somewhat different scoring techniques (usually based on the Fair Isaac model) but the biggest difference is caused by the vendors who report data.  If a vendor only reports to one of the bureaus, or 2, rather than all 3, then those bureaus will have different data to work with.  Frequently small banks will only report to 1 bureau.   All of the large banks report installments and revolving (credit cards) data to all 3 bureaus.   In order to get that, I usually suggest obtaining loans and cards from the larger institutions when you are trying to establish credit. 

Is using a debt settlement company a good idea?

These companies CAN help you to settle obligations, often for less than due, for a fee.  What they cannot do is effect any changes to the report like getting derogatory data, like late payments, collections, judgments etc., removed from the report.  Derogatory data remains for 7-10 years, depending on type, at which time it will disappear from the report.  The impact to the score will dissipate over time.

I pay cash for everything which improves my score right?

Wrong.  Unless you use credit, you can’t build credit.  And without credit, it is extremely difficult to buy things, particularly a home.

Should I close some/all of my credit cards?

Please don’t do that.  Your credit cards account for about 35% of the scoring model calculation.   If you close one or all, you remove good historical data from the algorithm and your score will go down in most instances.   Keep major credit cards open and use wisely.   You don’t have to let them roll over (making only a minimum payment) from one month to another to get the good effects on your credit score.   Charge things and pay the card in full each month to avoid interest.  But do use them occasionally.  I tell clients to charge a tank of gas a month and pay it off.  Put it in your drawer in between if you have temptation issues.

Does smart management of my bank accounts impact my score?

No. Banking information is not part of a credit score or report.

If I dispute negative information on my report, will it be removed?

If the negative information is inaccurate, yes it could be removed.  For instance, you paid your car loan on time but the vendor shows you as late.  You can provide your bank info showing the posting of your payment in a timely manner to the bureaus  and the bureaus will contact the vendor for a correction. If you contact a bureau asking for a review or correction, they are required to reach out to the vendor and respond to you within 30 days.  If you think you can just post ‘In Dispute’ on a credit report to counteract a derogatory, that won’t have any affect on the scoring.

I don’t have a credit score.  How do I get one?

There are still people who believe in using cash and not taking out loans or credit cards.  Unfortunately lenders are hesitant to lend to people without any systematic ‘track record’.  I suggest to noncredit users that they should obtain 2-3 tradelines and usually the easiest route is credit cards.  They don’t need to be high limit cards; even $500 works.   The scoring models don’t care about the dollar amount, just the timely payment and keeping the amount used at 35% or less of the high limit.  (the higher the percentage of use of the high limit, the more negative impact on the score).  Most lenders really want to see 3-4 open/active tradelines on a credit report with history for 12 months.

Can I get negative data taken off of my report?

Sometimes you can.  Let’s say you were late 1 time on your credit card, legitimately so.  Many vendors will allow you a 1-time courtesy removal.  Ask!  Worst they can say is no.  Ask on a Friday afternoon when people are upbeat and looking forward to their weekend.  Don’t call Monday morning! 

More questions? Wendy can be reached at:

Wendy Paulus, Branch Manager
970-668-1188 Dillon
303-233-5626 Denver
www.wendypaulus.com

I wish for you a day filled with blue skies, green lights and a perfect credit score! 

Displaying blog entries 1-10 of 32

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker