About New Haven County, CT

Understanding Your Credit Score

You've just applied for a mortgage or auto loan and your lender comes back with a three-digit number that summarizes your credit worthiness and you have no clue what that number really means. What is the difference between a 540, a 670 and a 780? If you're not familiar with credit scores then these seemingly random numbers can make it difficult to determine where you stand. And in today's difficult economic environment, you need every point you can get. In this article we're going to find out exactly what these numbers mean to lenders - and to you.

*Range above based on the FICO credit score, which is used by most lenders.

Outstanding: 800+
If your credit score is over 800 then you're pretty much the best of the best as far as the lending and insurance worlds are concerned. With scores this high, you represent an outstanding credit risk, almost non-existent, and you'll qualify for the best deals. Consumers that score in the 800+ range typically have a long credit history with multiple credit accounts that have been paid on time for years. There are no derogatory records such as collections, bankruptcies or charge-off accounts and very little credit card debt. These people are almost immune to the credit crisis.

Very Good: 750 - 799
If your credit score is between the 750 - 799 range, lenders will view you as a very low credit risk and you'll qualify for some of the lowest lending rates available. You manage your credit responsibly by paying your bills on time and keeping your credit balances very low in relation to the credit limits.

Good: 700 - 749
Credit scores in the 700 - 749 range are categorized as a low credit risk. There may be a history of late payments in the past but all of your accounts are currently paid on time and have been for the last several years. You also manage your credit card debt reasonably well and are not close to maxing out on your credit cards. Scores in this range won't always qualify for the best deals but they will definitely qualify you for very competitive rates and terms.

Not Bad: 650 - 699
Now we're starting to get into the riskier credit score ranges. If your credit score is in the 650 - 699 range, lenders and insurers will view you as a moderate credit risk. You probably have older derogatory items on your credit report that aren't hurting your score as much as they used to. A score in this range could also be the result of high credit card balances or too many applications for new credit in the last few months. With scores in this range you should still be able to obtain credit and insurance, but your rates will be considerably higher and the terms would be much less attractive than they would be if you were in the 700+ categories.

Poor: 600 - 649
If your credit score is in the 600 - 649 range, then lenders and insurance companies will view you as a high credit risk. Scores in this range are typically considered "subprime" by most lenders. Your credit score could be lower than average because of derogatory items on your credit report, such as late payments, collections or even bankruptcy and/or you may have high amounts of credit card debt. Scores in this range are less likely to get approved for standard credit products and usually pay very high interest rates and even less appealing terms. It's also important to note that scores in this range have a high possibility of being denied for credit or insurance.

Very Bad: Below 600
Consumers with scores below 600 are considered very poor credit risks and will have a very hard time finding a lender willing to take the risk to approve your applications. If you are approved, you'll be charged extremely high interest rates and/or insurance premiums. Credit scores below 600 are usually caused by chronic late payments, collection accounts, or public records appearing on your credit reports. Combining excessive applications for new credit with large amounts of credit card debt can also lower your scores to this level. It will be difficult for you to obtain new credit without the help of a co-signer, a large down payment or collateral.

No Credit Score
There is one other category that we haven't talked about and that is the ‘no credit' category. In order for lenders and insurers to accurately predict your risk they need to evaluate your credit score. If you don't have a credit score, they can't predict your risk and will typically bet on the safe side and decline your application or price it very poorly. There are a few reasons why you may not have a score:

1. You don't have any credit accounts in your credit files. In this case, having no credit score is better than having very bad credit for the simple fact that there are some lenders that will take the risk and give you a shot at establishing credit with them for the first time. These lenders are typically retail store accounts with smaller credit limits and higher interest rates. Another option could be a secured credit card. With either option, you can establish your credit by opening an account and managing it responsibly. This means making your payments on time and keeping the balances as low as possible. After 3 - 6 months of use, your credit report will be able to be scored.
2. You have credit accounts in your credit reports but you have not been using the credit cards or loan accounts regularly enough for there to be recent information or activity in your credit reports. In order for there to be a credit score, at least one of your accounts need to have been updated within the last 3 - 6 months to show activity. If you haven't used any of the accounts in the last year or so, it might be a good idea to charge something small and pay it off just to show some type of activity on the account in your credit reports.
3. You have a deceased indicator on your credit reports. If you have a joint account with someone who passed away, it is possible that the lender will report the account as belonging to a deceased person. And if you're a joint holder on the account, that notation can show up in your credit files too. If it does, you won't be able to be scored until the deceased indicator is removed from your credit reports.

:)
Matt

Toll Free: 888-NCFIXER (623-4937)
Toll Free Fax: 888-FAX-4020 (329-4020)
Local: 860-282-6181
330 Roberts Street 4th Floor
East Hartford, CT 06108

credit repair company

Mortgage bond prices had another volatile week with rates pushing higher the beginning of the week only to bounce back towards the end. Thursday's employment report was mixed. Non-farm payrolls fell 467,000 in June and the unemployment rate stood at 9.5%. Estimates were for jobs to decline 365,000 and the unemployment rate to stand at 9.6%. Fortunately the payrolls figure gained most of the attention along with falling oil prices and we recovered about 1/2 of a discount point Thursday morning. Oil was under $67/barrel Thursday morning, which helped alleviate inflation fears. The bond market was closed Friday for the holiday. For the week interest rates were near unchanged. The additional debt supplied tied to the US Treasury auctions will be the most important data this week. The trade data may also move the financial markets. LOOKING AHEAD

Weather The mortgage interest rate markets are subject to an enormous number of factors. Most analysts agree that weather can have an effect on market activity. Although the effects are seldom long lasting, they can be quite significant. The United States is the world's largest exporter of corn. Last year, relatively rainy weather across the Midwest portions of the United States delayed the planting of corn. This caused corn prices to escalate. This year corn farmers planted more acres of corn than analysts expected. Larger corn crops recently caused prices to fall. This is one bright spot amid heightened inflationary fears. Lower corn prices likely will result in lower food prices for some items. The weather also has the potential to directly alter fuel prices. As we enter the hurricane season, many oil and gas fields in the Gulf along with refineries along coasts are susceptible to damage. If this were to occur, oil prices would almost surely rise sharply. Rising oil prices would do little to help mortgage bond prices already pressured by inflationary fears and competition for investor funds from record debt levels. The result would most likely be higher rates. The economic effects of various weather occurrences may cause only temporary changes in economic activity. However, those times of change can have a lasting impact on people obtaining mortgages. Despite the rate volatility seen recently, mortgage interest rates remain historically favorable for borrowers. Now is a great time to take advantage of rates at these levels. For more realestate news and information visit www.HomeMarketingToday.com

Every pirate movie ever made has a peg legged member of the scallywag crew. And who could forget Captain Ahab who lost his leg to the great white whale Moby Dick. Argh.

Yes sir the peg leg has been around a long time and has served its purpose well. Actually the peg leg is still around today in another duty. Not as a limb replacement for obsessed whale hunting seamen, but as an important part of gas piping.

Natural gas or propane is referred to often as the clean fuel and for the most part that is essentially true. When feeding gas through a network of pipes and holding devices some dirt is bound to find its way in the system.

Gas burners like the ones on a water heater have small orifices which can clog fairly easily. Because a miniscule amount of debris can be in those pipes a simple yet effective device must be added to the piping just before the water heater, the drip leg.

The drip leg is nothing more than a length of pipe fitted from the bottom of a pipe Tee. The gas comes in the top of the Tee and out through the middle into the water heater. The drip leg is the bottom pipe with a cap. Drip legs would also be found on gas furnaces and boilers.

Looking at the first photo you can see that this water heaters piping is missing its drip leg. The bottom photo is a nice example how a good install should look with the drip leg.

So next time you're watching Pirates of the Caribbean think to your self, does my water heater have a leg to stand on.

James Quarello
NRSB #8SS0022
JRV Home Inspection Services, LLC

To find out more about our other high tech services click on the links below:

Branford Connecticut has become a very popular destinations with its great selection of fantastic restaurants to tempt every cuisine and taste. Whether it's pizza, seafood, Mexican, Asian, Italian or just a quick bite for lunch, here is a list of some of the favorite Branford CT restaurants for you to enjoy.

Assaggio's Restaurant - 168 Montowese Street - (203) 483-5426

Born In America Restaurant - 4 Brushy Plain Road - (203) 483-0211

Branford Townhouse Diner - 91 N. Main Street - (203) 483-0211

Darbar India Restaurant - 1070 Main Street - (203) 481-8994

Dockside Seafood & Grill - Block Island Road - (203) 488-3007

Donovan's Reef - 1212 Main Street - (203) 488-5573

Eli's on the Hill - 624 W. Main Street - (203) 488-2700

Foe - An American Bistro - 1114 Main Street - (203) 483-5896

Hole in the Wall Deli - 328 E. Main Street - (203)

Humphrey's Bar & Grille - 5 Sycamore Way - (203) 481-7735

Il Forno Restaurant - 765 W. Main Street - (203) 488-0573

Jalapeno Heaven - 401 W. Main Street - (203) 481-6759

Kampai Japanese Restaurant - 869 W. Main Street - (203) 481-4536

Lakeview Tavern & Grille - 249 W. Main Street - (203) 483-5553

La Luna Restaurant - 168 N. Main Street - (203) 483-9995

Lenny's Indian Head Inn - 205 South Montowese Street - (203) 488-1500

Lo Monaco's Ristorante Italiano - 990 W. Main Street - (203) 481-9990

Lynn's Deli - 318 E. Main Street - (203) 488-3232

Mangos Bar & Grille - 988 Main Street - (203) 483-7700

Marco's Pizzeria & Restaurant - 313 E. Main Street - (203) 483-1544

Margarita's Mexican Restaurant - 377 E. Main Street - (203-483-7557

Nellie Green's Restaurant - 50 Maple Street - (203) 483-8400

P & M Fine Food Delicatessen - 401 Main Street - (203) 488-6183

Pacileo's Apizza & Pasta - 312 Harbor Street - (203) 481-5930

Parthenon Diner - 374 E. Main Street - (203) 481-0333

Pasta Cosi - 3 Linden Avenue - (203) 483-9397

Pasta Fair Restaurant - 420 E. Main Street - (203) 488-9437

SBC Restaurant & Brewery - 850 W. Main Street - (203) 481-2739

Shoreline Foods - 1274 Main Street - (203) 488-2600

Su Casa Mexican Restaurant - 400 East Main Street - (203) 481-5001

Tommy Sullivan's Cafe - 240 Main Street - (203) 488-8454

U.S.S. Chowder Pot - 560 East Main Street - (203) 481-2356

********************************************************************************************

Written and Posted by:

Guilford CT Real Estate Market Report June 2009- Guilford CT 06437

Understanding the general direction of the current Guilford CT real estate market conditions is of vital importance to both buyers and sellers in order to help you make a more informed decision when buying or selling a home in Guilford.

There are currently 205 homes for sale in Guilford ranging in price from $199,000 to $6,750,000.

In the month of June 2009 there were 22 homes that closed which is a decrease of 9 homes as there were 31 homes that closed in June 2008.

The average sales prices of the homes sold in June 2009 was $527,831 versus $523,035 for those sold in June 2008.

The averages days on the market for June 2009 was 99.

The average days on the market for June 2008 was 106.

Median sales price for June 2009 was $447,500 with an average 54 days on the market.

Median sales price for June 2008 was $400,000 with av average 78 days on the market.

Below is a summary of the Guilford CT real estate market that provides a more in depth view of market conditions over the past twelve months.

For the period of January - June 2008 there were 136 homes sold with an average sales price of $485,425, a median sales price of $392,500 and an average days on market of 109 days.

For the period of January - June 2009 there were 112 home sold with an average sales price of $396,614, a median sales price of $382,500 and an average days on market of 94 days.

The average sale price to list price ratio for January - June 2008 was 95.80% and for January - June 2009 was 91.80%.

In reviewing this comparison of year to year market data, there has been a significant decrease in the average sales price and a moderate decrease in the median sales price indicating we are still experiencing a continued weakness in the real estate market. The number of homes sold has seen a decrease in the year over year and average days on market has been decreasing.

The data for the Guilford CT real estate market report for June 2009 is based on statistics provided from the CTMLS (private sales are not included nor are mobile homes).

Homes For Sale in Guilford CT by Price Range

$10,000 to $250,000

250,000 to $500,000

$500,000 to $700,000

$700,000 to $1,000,000

$1,000,000+

*****************************************************************************************

Contact Donna Bigda, ABR, SRES, e-PRO, Realtor®, RE/MAX Alliance Licensed Realtor® in the State of Connecticut at 203-488-1641, ext. 214 to list your property for sale or to purchase a property in Branford, Guilford, Madison, East Haven, New Haven and the rest of shoreline area in New Haven County Connecticut.

If you're thinking about buying a home in Guilford CT there are many great buys in today's market while interest rates remain low. For more information on Guilford CT real estate homes or condos, see Guilford CT real estate or sign up today to get access the hottest new listings here Guilford CT homes and condos.

If you're considering selling your Guilford home, we'd be happy to provide you with a Pin-Point Price Analysis of your home which will help you determine what it might sell for in today's market.

To keep up to date on the current state of the Guilford CT Real Estate Market & other information about Guilford CT, subscribe to my blog via email here or visit online at www.connecticutshorelineblog.com.

If email is your communication preference, email me at donna@donnabigda.com.

Copyright © 2009 by Donna Bigda, All Rights Reserved ...*Guilford CT Real Estate Market Report June 2009 - Guilford CT 06437*