About Issaquah's Downtown Issaquah

Even if you pay your bills on time...

12-08-11

Brian Leavitt: Real Estate Agent in Issaquah, WA

view my blog
Office: (425) 837-4700

Mobile: (206) 999-2289
Secondary: (800) 806-3145

You could be bringing your credit score down without realizing it. The main factors considered in creating your credit score is whether you pay your credit cards and bills on time but some factors that can shave points from your score are not as obvious and not as well known. They include:

* Ordering several new credit card accounts in a short period of time. Maybe you're just taking advantage of low-interest offers, but to credit scorers, it looks bad. Better yet, avoid credit cards altogether.

* Transferring a balance to a new card, and then closing the old card account. It's OK to transfer the balance, but keep the old account open. If you close it, you won't have as much total credit and your credit-utilization ratio will increase. The amount of debt you have is calculated for balances on individual accounts, as well as your overall credit limit.

* Charging a lot to a department store credit card. Say you have a $4,000 credit limit. You are buying new furniture, so you charge $3,500. Before that, you only owed $100 on your store card. Now, you owe $3,600 on a $4,000 card, which means available credit on that account will be way down. It's not good for your credit score. And the store charges high interest rates. Here's a better solution. Save for the item and pay cash. Cash talks, you can almost always negotiate a discount for cash so you avoid the credit card debt and save money as well.

* Other situations you might think are not related to your credit score include library book fines, parking tickets, back rents, medical bills and any other fees or charges you put off paying. In time, they will be turned over to a collection agency. Even after you pay them, the collection will stay on your credit report for seven years.

Remember to review your credit report on at least an annual basis. You can do this for free at https://www.annualcreditreport.com. There are lots of so called “free” credit report sites out there but this one is the real deal sponsored by the credit bureaus and is completely free with no membership or service fees required. Also, if you are turned down for credit because of anything revealed in your credit report you have the right to a free copy of your report. For more information on your rights under the Fair Credit Reporting Act go to http://www.ftc.gov/os/statutes/fcrajump.shtm

4 Comments

Eastside Waterfront Homes Show Big Sales Gains in March

04-06-11

Sam DeBord - Seattle Real Estate Broker

view my blog

Mobile: (206) 658-3225

Sales of Eastside waterfront homes in March showed a marked improvement in terms of sales volume. There were 11 significant waterfront sales on the Eastside, including 8 sales over $1 million. This is nearly three times the sales volume last year in march, and a 57% increase over the 7 waterfront real estate sales last month.

The waterfront real estate market continues to improve in the Greater Seattle market, and it seems to be a bit strong on the Eastside and Mercer Island. We're seeing a higher number of cash purchases and homes selling in less than one month on the market.

March 2011 Waterfront Real Estate Sales, NWMLS

Address City Price Beds Baths SqFt

18184 SE 41st Place	Issaquah	$840,000	5	2.5	3,000
2955 224th Place SE	Sammamish	$895,000	5	3.3	3,313
8855 NE Juanita Lane	Kirkland	$950,000	4	3.5	2,870
856 W Lake Sammamish Pkwy NE	Bellevue	$1,072,000	3	1.8	2,440
16301 Inglewood Rd NE	Kenmore	$1,075,000	4	2.3	3,250
480 W Lake Sammamish Pkwy NE	Bellevue	$1,195,000	3	1.8	1,620
667 East Lake Sammamish Pkwy NE	Sammamish	$1,200,000	3	2.3	2,750
1625 10th St W	Kirkland	$1,390,000	4	2	2,110
5188 NW Lake Sammamish Rd	Issaquah	$2,198,000	5	4.5	6,376
701 Shoreland Dr SE	Bellevue	$2,550,000	3	1.5	2,030
1913 E Lake Sammamish Place SE	Sammamish	$2,800,000	4	3.8	7,327

1 Comment

A Fourplex in Issaquah Washington

10-17-10

The Phil Leng Team, Bank Owned Property Experts 206-409-6600

view my blog
Office: (206) 409-6600

Mobile: (206) 409-6600
Secondary: (425) 285-3200

A Fourplex in Issaquah Washington

We met back in May of 2010. A working couple. Ready to make a real estate investment.

Since then we have looked at foreclosures, short sales, multifamily investment properties. Even student housing in a town an hour and a half away.

The months rolled on.

Finally I got a call last week. We would like more information on that fourplex in Issaquah that you presented to us at our very first meeting.

I freely admitted I could not remember the property. He (an engineer) had done careful research. I looked it up and did my own research. It was a quality property in an attractive area. So my clients made an offer on a fourplex in Issaquah Washington.

I went out and took this video before my clients made their offer on a fourplex in Issaquah. My rules of investing in real estate include some of the following:

1. Make sure it is reasonably close to where you live or work. Preferably not more than 5 miles away. Definately not more than 20 minutes away.
This fourplex in Issaquah Washington checked out.

2. Your property will determine what kind of renters you get. Make sure the property you choose does not eliminate the renters you want, and only attract the renters you do not want.This fourplex in Issaquah Washington checked out.

3. The condition and maintenance of the property needs to be appropriate to your skill level, your time available and your desire level. This fourplex in Issaquah Washington checked out. My buyers are both busy, and the property was well maintained.

4. The price you pay, and terms you get need to leave you with a property that will truly cash flow. Even if you can afford negative cash flow, that is a dangerous game to play, because sometimes income goes away or tragedies come along. Our offer made sure that this fourplex in Issaquah Washington would cash flow. If you are going to pay for management you need to incorporate that expense into your proforma.

5. Make sure you are prepared to be a landlord. My buyer had done a lot of research and were ready to make an offer on this fourplex in Issaquah Washington.

6. Of course, bring in a real estate agent who is knowledgeable in investments and investment properties. There are many, many ways to make money in investment real estate. Make sure your agent has experience.
My buyers chose to work with me to make an offer on this fourplex in Issaquah Washington, so they were in good hands!

So now to present the offer and see if buyer and seller can come together to make a mutually beneficial transaction!

If you are looking for investment property, give me a call!