When multiple revolving balances have exceeded their credit limits, credit scores drop substantially. Credit scores are affected when one or more revolving loan balances exceeds 50% of its limit. The risk increases when multiple revolving accounts exceed 50% of their credit limit ratio. The more loans, the greater the impact on our credit scores.
Depending on the number of accounts, the payment history, and the type of lender, your score can drop 100 points or more when multiple accounts have high debt ratios.
I have heard of an individual that had a 750 credit score that was on the verge of going down to a low 600 score because of the high ratio on credit cards.
Since credit scores can quickly drop to low levels, consolidating by refinancing the debts with a new loan is unlikely. By avoiding this dangerous credit risk, we can avoid having a low score for a lengthy period of time. The only real solution to the problem is to pay down the balances. Don't let multiple balances exceed 50% of the limit and especially 100% of the credit limit. It is a sure path to credit destruction.
For all your Utah Real Estate Needs
The Bronson Barber TEAM
801-712-1607
bronsonbarber@gmail.com
"Buyers are far more discriminating, and a large percentage of the homes listed for sale don't sell the first time. It's more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money."
Remember not so long ago, when you could make your fortune in real estate. It was nothing then to buy a home, wait a short while, and then sell it at a tidy profit. And then do it all over again. Well, as you probably know, times have changed. As good as the market is right now, home prices are still below what they were at their peak. Buyers are far more discriminating, and a large percentage of the homes listed for sale never sell. It's more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money. |
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The 9 Step System to Get Your Home Sold Fast and For Top Dollar
Selling your home is one of the most important steps in your life. This 9 step system will give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home selling process:
1. Know why you're selling, and keep it to yourself.
The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What's more important to you: the money you walk away with, or the length of time your property is on the market? Different goals will dictate different strategies.
However, don't reveal your motivation to anyone else or they may use it against you at the negotiating table. When asked, simply say that your housing needs have changed.
2. Do your homework before setting a price.
Settling on an offering price shouldn't be done lightly. Once you've set your price, you've told buyers the absolute maximum they have to pay for your home, but pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn't compare favorably with others in the price range you've set, you won't be taken seriously by prospects or agents. As a result, your home will sit on the market for a long time and, knowing this, new buyers on the market will think there must be something wrong with your home.
3. Do your homework.
(In fact, your agent should do this for you). Find out what homes in your own and similar neighborhoods have sold for in the past 6-12 months, and research what current homes are listed for. That's certainly how prospective buyers will assess the worth of your home.
4. Find a good real estate agent to represent your needs.
Nearly three-quarters of homeowners claim that they wouldn't use the same realtor who sold their last home. Dissatisfaction boils down to poor communication which results in not enough feedback, lower pricing and strained relations. Another FREE report entitled, "10 Questions to Ask Before You Hire an Agent" gives you the straight, to-the-point questions you should be asking when you interview agents who want to list your home. You can obtain a FREE copy of this report from my website.
5. Maximize your home's sales potential.
Each year, corporate North America spends billions on product and packaging design. Appearance is critical, and it would be foolish to ignore this when selling your home.
You may not be able to change your home's location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor. Clean like you've never cleaned before. Pick up, straighten, unclutter, scrub, scour and dust. Fix everything, no matter how insignificant it may appear. Present your home to get a "wow" response from prospective buyers.
Allow the buyers to imagine themselves living in your home. The decision to buy a home is based on emotion, not logic. Prospective buyers want to try on your home just like they would a new suit of clothes. If you follow them around pointing out improvements or if your decor is so different that it's difficult for a buyer to strip it away in his or her mind, you make it difficult for them to feel comfortable enough to imagine themselves an owner.
6. Make it easy for prospects to get information on your home.
You may be surprised to know that some marketing tools that most agents use to sell homes (e.g. traditional open houses) are actually not very effective. In fact only 1% of homes are sold at an open house.
Furthermore, the prospects calling for information on your home probably value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent, or an unwanted sales pitch. Make sure the ads your agent places for your home are attached to a 24 hour prerecorded hotline with a specific ID# for your home which gives buyers access to detailed information about your property day or night 7 days a week without having to talk to anyone. It's been proven that 3 times as many buyers call for information on your home under this system. And remember, the more buyers you have competing for your home the better, because it sets up an auction-like atmosphere that puts you in the driver's seat.
7. Know your buyer.
In the negotiation process, your objective is to control the pace and set the duration. What is your buyer's motivation? Does s/he need to move quickly? Does s/he have enough money to pay you your asking price? Knowing this information gives you the upper hand in the negotiation because you know how far you can push to get what you want.
8. Make sure the contract is complete.
For your part as a seller, make sure you disclose everything. Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers in writing. If the buyer knows about a problem, s/he can't come back with a lawsuit later on.
Make sure all terms, costs and responsibilities are spelled out in the contract of sale, and resist the temptation to diverge from the contract. For example, if the buyer requests a move-in prior to closing, just say no. Now is not the time to take any chances of the deal falling through.
9. Don't move out before you sell.
Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten, simply not appealing. It could even cost you thousands. If you move, you're also telling buyers that you have a new home and are probably highly motivated to sell fast. This, of course, will give them the advantage at the negotiating table.
For all your Utah Real Estate Needs Contact
THE BRONSON BARBER TEAM
801-712-1607
Condition is the most important factor in selling a home.
Then next factor is.....
You must let everyone know your home is in the best condition.
A house doesn't sell because of location, location, location. It sells because of...
Emotion, Emotion, Emotion!
You never know what triggers a buyer's "hot button" to make them decide to buy
The buyer's emotions account for at least 80% of the sales.
Here are some truths about real estate...
People never buy what they say they are going to buy.
People don't buy what they need.
People buy what they want!
New Homes
Go to a new home subdivision and walk through the model homes. The builders use top notch interior decorators, top notch furniture....and they create a lifestyle. They use the best appliances, top of the line carpet, and they leave the lights on. They even have soft music playing in the background. They also beautifully landscape the model home.
Now ask yourself this question. "Why would any builder spend $50,000 - $100,000 or more just on décor or "atmosphere"? Because it sells homes!
Vacation Resorts
You need to create a getaway for buyers to sell your home. Ever go into a hotel and have a dirty or cluttered room. NO, of course not. The rooms always have great décor. They play on your emotions! What do you do when you first get in a hotel room? You look around try to get a feel for the place.
Staging homes and Feng Shui (good chi) are the new "miracles" for selling homes.
Make your home stand out
For all your Utah real estate needs
Contact The Bronson Barber TEAM
801-712-1607
Utah Select Realty
Our VIP Seller Service provides you with timely, online, direct feedback from prospective buyers -- Your home will sell FASTER and for MORE money!
Let me share an ugly truth about selling real estate. Most real estate agents are usually far more concerned about generating new listings than they are about selling the homes they've already listed. After you list your home with them, they become much more difficult to contact. The time it takes for them to return your call goes from minutes to hours or days (if you're lucky). Providing you with timely feedback on the progress they are making is a very low priority item. If they're not making progress on selling your home, you're the last person they want to talk with. The truth is they often just assume that eventually your home will sell just because they've put it into the MLS, even if it takes several months and a couple of price reductions to do it.
We're different. Our automated client Home Feedback System is just one way that we will provide you a much better home selling experience ending with the results you need.
Here's how it works:
1. Each time your property is shown to a prospective buyer, the details of the showing are entered into my Home Feedback System.
2. My system then automatically follows up with each showing agent up to three times to solicit his buyer's comments on your home (Most agents don't have time to follow-up even once, let alone three times). Once received, these comments are automatically entered into the system.
3. As my client, you will receive emails regarding to the Home Feedback System:
What does this mean to you?
For All Your Utah Real Estate Needs
Contact The Bronson Barber TEAM
801-712-1607
Unlike the experience of buying a first home, when you're looking to move-up, and already own a home, there are certain factors that can complicate the situation. It's very important for you to consider these issues before you list your home for sale. Not only is there the issue of financing to consider, but you also have to sell your present home at exactly the right time in order to avoid either the financial burden of owning two homes or, just as bad, the dilemma of having no place to live during the gap between closings.
Six Strategies
In this report, we outline the six most common mistakes homeowners make when moving to a larger home. Knowledge of these six mistakes, and the strategies to overcome them, will help you make informed choices before you put your existing home on the market.
1. Rose-colored glasses
Most of us dream of improving our lifestyle and moving to a larger home. The problem is that there's sometimes a discrepancy between our hearts and our bank accounts. You drive by a home that you fall in love with only to find that it's already sold or that it's more than what you are willing to pay. Most homeowners get caught in this hit or miss strategy of house hunting when there's a much easier way of going about the process. For example, find out if your agent offers a Buyer Profile System or House-hunting Service, which takes the guesswork away and helps to put you in the home of your dreams. This type of program will cross-match your criteria with ALL available homes on the market and supply you with printed information on an ongoing basis. A program like this helps homeowners take off their rose-colored glasses and, affordably, move into the home of their dreams.
2. Failing to make necessary improvements
If you want to get the best price for the home you're selling, there will certainly be things you can do to enhance it in a prospective buyer's eyes. These fix-ups don't necessarily have to be expensive. But even if you do have to make a minor investment, it will often come back to you tenfold in the price you are able to get when you sell. It's very important that these improvements be made before you put your home on the market. If cash is tight, investigate an equity loan that you can repay on closing.
3. Not selling first
You should plan to sell before you buy. This way you will not find yourself at a disadvantage at the negotiating table, feeling pressured to accept an offer that is below-market value because you have to meet a purchase deadline. If you've already sold your home, you can buy your next one with no strings attached. If you do get a tempting offer on your home but haven't made significant headway on finding your next home, you might want to put in a contingency clause in the sale contract which gives you a reasonable time to find a home to buy. If the market is slow and you find your home is not selling as quickly as you anticipated, another option could be renting your home and putting it up on the market later - particularly if you are selling a smaller, starter home. You'll have to investigate the tax rules if you choose this latter option. Better still, find a way to eliminate this situation altogether by getting your agent to guarantee the sale of your present home (see point number 5 below).
4. Failing to get a pre-approved mortgage
Pre-approval is a very simple process that many homeowners fail to take advantage of. While it doesn't cost or obligate you to anything, pre-approval gives you a significant advantage when you put an offer on the home you want to purchase because you know exactly how much house you can afford, and you already have the green light from your lending institution. With a pre-approved mortgage, your offer will be viewed far more favorably by a seller - sometimes even if it's a little lower than another offer that's contingent on financing. Don't fail to take this important step.
5. Getting caught in the Real Estate Catch 22
Your biggest dilemma when buying and selling is deciding which to do first. Point number 3 above advises you to sell first. However there are ways to eliminate this dilemma altogether. Some agents offer a Guaranteed Sale Trade-Up Program that actually takes the problem away from you entirely by guaranteeing the sale of your present home before you take possession of your next one. If you find a home you wish to purchase and have not sold your current home yet, they will buy your home from you themselves so you can make your move free of stress and worry.
6. Failing to coordinate closings
With two major transactions to coordinate together with all the people involved such as mortgage experts, appraisers, lawyers, loan officers, title company representatives, home inspectors or pest inspectors the chances of mix-ups and miscommunication go up dramatically. To avoid a logistical nightmare ensure you work closely with your agent.
For All Your Real Estate Needs Contact
The Bronson Barber TEAM
801-712-1607
We don't sell homes we offer solutions to peoples problems! Whether it is getting into a home or getting out of a home we have a solution for you.
Our vision is to provide you, the consumer with the most resources available and always have new exciting ideas to better serve you. As you navigate your way through this website you will discover that we are not your average real estate team. We don't follow the same path as our fellow real estate agents.
We understand that consumers want more and we stood up and gave you what you want. These days everyone has access to the MLS. We feel that is just one tool that is used to get your home sold. Or if you're a buyer that is one resource that you can find anywhere to look at properties.
We concentrate on the education of the consumer. Why? Because that is where you are going to find the best deals. Once you become educated you will make better choices on your real estate transactions.
Think of us more as a consultant that guides you through you lack of knowledge and understanding. We are here to guide you not just show you houses.
We also understand that real estate is constantly changing due to the Internet and how people buy and sell real estate. That is why it is a requirement that everyone on our team spend at least 10% of his or her time learning so that you the consumer will have a better experience with us. We want all of your transactions to go smoothly.
Having a team whose one goal is to provide you with the best possible real estate experience will do two things: Make you happy and keep you coming back with your friends.
We understand that you might need a mortgage broker, contractor, title company, inspector, home stager, painter, electrician, plumber, landscaper, credit repair, and the list goes on. We can provide recommendations for almost any service that you need, saving you time and energy.
Sellers
Making the decision to sell can definitely be challenging and that is why we offer several solutions that I know will be beneficial to every homeowner.
We have a complete home selling book that will show you exactly how we sell homes. It covers every aspect of our business and is available to you for a very good deal. You will learn how to effectively prepare your home, market and advertise, negotiate contracts, work with and pre-qualify buyers, and complete the rest of the home selling process with confidence knowing that you have a guide to follow.
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If you decide to sell using our team you can do that as well. You will have an entire team working for you to get your home sold.
Our TEAM excels in selling hard to sell homes which provides sellers a way out of their home. We go beyond the normal mentality of real estate professionals. We bring high energy levels to every problem that a homeowner is having with selling a home. We also bring in a positive and a confident attitude that we can get your home sold.
What Makes Our Easy Listing Program So Great?
Sell your property yourself, while it is listed with us, and pay no commission!
Your benefit: Having the ability to contribute and get compensated for your efforts. You can run ads and hold open houses if you wish. You only pay us a commission if we sell your property.
Cancel the listing at anytime.
Either you or our Real Estate TEAM can cancel your listing anytime simply by faxing or e-mailing a note stating, "I want to cancel the listing." It's that simple. The cancellation becomes effective 24 hours after required notice. However, please allow five business days to have the sign removed and the listing withdrawn from the MLS and the Internet.
No advanced fees of any kind.
You only pay a commission if our Real Estate TEAM produces an offer that is acceptable to you.
"No Pressure" presentation.
Our Real Estate TEAM will never allow you to be "pressured" by the buyer's agent and you will never be pressured by us. We make recommendations to you and then let you make the decision. If you want we will just email the offer to you so you can make your decisions privately.
This program does not allow you to display any sign other than ours.
We are so confident that we can sell your home that we are offering this unique program.
You can also discover on this website how you as a homeowner can become a bank and make more money than you normally would. I will guarantee that if you follow the techniques that we suggest, you will make more money and sell faster than anyone in your neighborhood!
To find out more about this technique go to our Seller Finance section on our website by clicking here
Buyers
As you know buying a home can be challenging at one point or another. That is why we offer several solutions for you. We want buying a home to be a simple process where you can feel comfortable knowing that you chose the right people to work with and that you are getting the best deal.
We understand that buying a home can be a hard thing to do. You may not understand how to begin the process or maybe your last buying experience wasn't a good one. That is why we offer a solution for you! We offer a book that will be your roadmap which gives you the most complete information possible with techniques that will save you both time and money. In this book we reveal how the rich and famous buy homes while saving both time and money and how you can do it too!
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What we offer our buyers:
We teach you how to work with a mortgage broker and find the correct loan and terms that will meet your needs. This is one of the largest mistakes that homebuyers make. Buying with the right loan is just as important as buying at the right price.
We go over every specification that you want and need in a home. We want to save you the most time possible. By establishing what you want we can quickly and efficiently find properties that fit your needs. We will never show you properties that don't meet your needs or wants.
After we have established your needs and wants we set you up as a VIP Buyer. This will enable you to receive the hottest new homes on the market delivered right to your email on a daily basis. This will save you incredible amounts of time as you won't have to search through thousands of homes on the Internet looking for those that meet your particular criteria.
We will have multiple agents working for you, which will provide greater flexibility in being able to quickly show you any property that you want to see.
Negotiations. We have years of experience in negotiating contracts with the buyer's best interest in mind. We will do what it takes to get you into a home at a price that is acceptable to you. We will show you different strategies that we have learned over the years that will be beneficial to you.
Since we have been doing this for many years we understand the process and all the questions that you will have along the way. So please ask us any questions that you might have during your home buying experience with us!
We look forward to fulfilling your dreams of owning a first, step up, or dream home!
If you are unsure about your ability to qualify for a loan, don't worry! We have you covered! We work with sellers that are willing to be the bank for you. For more information about this program go to our SELLER FINANCE SECTION in our website by clicking here.
My wife and I LOVE our new home. Bronson was incomprehensibly patient with us during our exhaustive search for a new house. Bronson was always very flexible and willing to drive my wife around to multiple house locations even though they were often located more than 30 minutes away from his office.
Ryan and Mandy Angus
I worked with Bronson for my out of state move to Utah. We purchased new construction from a builder, and Bronson was invaluable in facilitating the purchase agreement, attending multiple meetings with the builder, coordinating dates, and essentially making numerous arragements that I was unable to do living out of state. Bronson looked out for my interests every step of the way, and was very proactive in working with the builder. He also caught some items needing to be addressed by the builder, and ensured they were corrected to his client's (my) satisfaction. I wouldn't hesitate to use Bronson again for my real estate transactions.
Brian and Jamie Bare
We would like to personally thank Bronson Barber for making our first home buying experience the best possible. We always used to think that we would never be able to get into a home, but Bronson made that happen and we absolutely love our new home. It seemed like everything just fell right into place for us. Bronson called us and we went to look at the house and within a matter of a few short weeks, we were signing the papers and moving into our home. He was able to make this transition as easy as possible and we will always be grateful for that. I used to be afraid of buying a home but now I have a wonderful experience to look back on. Thank you Bronson!
Becky and Tongia Vaitaki
We would like to express our thanks to Bronson for helping us so much during the biggest change in our lives. After being in our starter home for over 12 years, we were not sure if we were ready for such a big change, but Bronson's professional and caring attitude helped us so much through the process. He kept us updated constantly from the beginning to the end, so we always knew what the next step was. Not many people sell their existing home, buy and move into their new home in three weeks. Quite amazing. Thank you again
Chad and Julie Whittle
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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