How to Build Credit

The whole point of credit is to show that you are a responsible adult who will be able to pay a lender back when applying for a loan. Applying for a loan is especially difficult if you do not have credit. It is a good idea to start building credit at a young age. The sooner, the better. It is something that is definitely not taught in school but it should be. This information would have been so much more helpful than geometry in my personal opinion. You will need a few nuggets of advice first before you start your financial journey.

 

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Get a credit card. There is a lot of negativity associated with credit cards and I understand. They are a quick way to debt before you realize it. Despite this, they are also a good way to build credit. The trick is to start off buying small things like gas and then paying it off completely each month. It will show the lenders that you are great at paying back debts. It’s important that you use the credit card every month, not that you have it and it sits in a drawer otherwise it defeats the purpose of having it.

 


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Once you have one credit card, then get another. One line of credit is okay but two are amazing. This can be something small like a clothing store credit card. Get your work clothes from the store and pay it off every month as well. Different lines of credit create variety in your hypothetical portfolio.

 


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Get a small loan. This can be as simple as a student loan. Paying back a little loan will open the doors for you to qualify for large loans such as a loan for a car or house. It may even be beneficial to take out a menial loan just to pay it back almost immediately. This is a quick way to build credit fast if you’re in desperate need of good credit.

 


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Get something in your name. Whether it is a gas bill or auto insurance, a bill with your name on it signifies you have been paying someone consistently. Rent, utilities, and phone bills are all included in helping your credit score grow.

 


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Credit building can be intimidating. Don’t let the details bog you down. Start with these few simple tricks and you will have an amazing credit score in no time.

 

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Interested in building your credit to buy or invest in a home?
Tom Davies with Fairway Independent Mortgage Corporation
can guide you to methods or resources that will work best for growing YOUR credit score.

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Maintenance of the Month

This winter has been brutal. One can only imagine what their house is feeling during the winter months. There are some monthly maintenance items that you can check off the list in order to lessen your poor home’s burden. A few little up keeps can help your home work and look its best despite the dreary weather.

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One thing you can do to help your air circulation is remove your vents to vacuum the dust from them. Just like you remove lint from the dryer, you remove dust from the vents to promote clean air and keep your systems from working harder than they should have to.

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Grouting the floors, showers, and back splashes. I’m sure it has been a cool minute since those cracks have been updated. After years, grout can slowly wear away and collect stains so a new grout job will refresh its look. If your grout is newer then it may be a good idea to give it a scrub down.


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Clean out the gutters. If the seasonal sludge has blocked up your gutters, it may be a good time to clean them. Investing in gutter guards may save you some time and effort in the future.

 

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For safety purposes, check your smoke alarms and carbon monoxide detectors for dead batteries and if they are properly working. “This Is Us” fans will know the importance of this crucial step. Nobody wants another faulty slow cooker situation.

 

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Keep your HVAC cleaned up. Replace the filters on it as well as schedule a routine maintenance appointment for it. It could save you money in the future to do small things to keep it running smoothly now.

 

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Check for rotting wood. The frame of your house is an important structure that needs attention just like any part of the house. Check for rotting wooden beams in the attic, porch, and indoor frame. Have them replaced as soon as you can if they are eaten by termites or moisture.

These are just a few things you can start with now before full blown Spring cleaning commences. A few things each month will keep your home on the right track to a clean, safe and efficient home.

 

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Life Hacks for Energy Conservation

Energy conservation in the home is often overlooked when it comes to budgeting. When done the right way it can be an effective tool to help you unexpectedly save in everyday finances. Here are a few of our recommendations to get you started in cutting those energy costs.


 

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To start small you can invest in energy efficient appliances. This can mean replacing your old washer, dryer, or dishwasher with new energy efficient lean and green machines. Instead of replacing the dryer, you can at least remove the lint from the lint trap every time you dry a load of clothes. A full trap can use up to 30% more energy than an empty one. Two or more loads in a row can also take advantage of an already heated dryer.


 

pexels-photo-256307.jpegIf that’s a little out of your price range at the moment, another significant step is to replace your light bulbs. Most labels at the office or home supply store can tell you which are the bulbs that will last you for several years and the most energy friendly. They usually consist of LED or CFL bulbs. Don’t forget the outdoor lights as well. It may be a small step but you’ll notice a great change on your bill.


 

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Saving on water can be as simple as changing your shower head. On average it takes a shower 20 seconds to release a gallon of water. Choose a new shower head that flows about 2.5 gallons per minute. If you reduce the temperature of your water by 10 degrees then you can save an additional 3-5% in energy costs.


 

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A little caulk never hurt anyone. Windows and frame caulk can crack over the years leaving your house drafty. A fresh round of caulk is a great way to seal out the draft. This will prevent heat and air conditioning loss thus saving you dollars in the long run.


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Replacing the air filters consistently and cleaning the heater filters is another way to lower your out of pocket expenses over time. As well as replacing the thermostat with a programmable one so that when you’re away you can set the temperature to 7 degrees lower or higher since you don’t need your home to be warm or cold if you are not in it.

We hope that some of these really drive home some ideas to more energy consciousness and financial savings. “Why would I want to save money?” Said no one ever.

 

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Upcoming Event: 2/17/18 – Free Homeowner’s Q+A Sessions – FB Event Link

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Homestead Exemption

Every tax season is a nightmare. This little tidbit of knowledge can help ease the burden of taxes this year. This tax season save money on your home with the Homestead Exemption. It is an exemption of the assessed valuation.

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A homestead is any structure, condominium or home located on owned or leased land as long as the individual lives in it. It can include up to 20 acres as long as it is owned by the homeowner and used for a purpose related to residential use. The exemption removes part of your home’s value from taxation thus lowering your taxes. Not all homes qualify; only the principal residence of the homeowner.


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To qualify you must be a resident of Oklahoma and the homeowner that resides on the property by January 1st with the deed executed before January 1st and filed with the County Clerks Office before February 1st. You may file it for two years up to the delinquency date. Once you have applied for and granted the Homestead Exemption then you do not have to continue applying as long as you continue to occupy the homestead home.


pexels-photo-296886.jpegYou may even be able to apply for an additional exemption if you qualify for the original homestead exemption and are head of the household. There are several options including county, school, disabled, optional percentage and senior tax exemptions. This is potentially another $1000 if your total annual income did not exceed $20,000 the previous year. Apply today from our Oklahoma County Assessor site.

 

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New Year, New House

It’s already the New Year people and it’s time for big ideas and big changes. There is the one thing that has been on your mind for a while now but can’t seem to get started. Now is the time. Those homes you have been eyeballing secretly, following the buyer’s apps, and drooling over those historic district houses, well now is the time to act.

Make your New Year’s resolution to treat yourself
to a well deserved new home.
You’ve survived through 2017 so you’ve earned it.


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Why is the New Year a good time to buy? Tax Deductions. Start this year off right with huge tax deductions that are ready to be taken advantage of. Next year you will thank yourself while filing in February. I know it seems like a long way off now but so did the end of 2017, am I right?


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In addition to the usual perks of buying, the holidays and New Year make everyone a little more jolly. The freshness of the New Year may make people nicer as you start your journey into purchasing. Your real estate agent will be more attentive due to slow traffic; the seller may be easier to negotiate with in the spirit of the season. YOU will be less stressed and more easy-going in light of the exciting prospects of ownership.


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Not many people shop for houses this season so many sit on the market for a long time. This will save you money by getting a great deal in a slow market. Sellers will be thrilled to negotiate and sell to you after waiting a spell on a bid.


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It’s better than renting. On rentals you are essentially burning your money each month. Buying is an investment that will eventually make you money if you ever decide to sell your home.

Make your New Year work for you, make your new year’s resolution to own.

 


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It’s the Most Wonderful Time to Buy

Winter gets a bad rap. It’s known for the cold, bad driving weather and terrible hair days from the elements. Despite the negative connotations, it does have some upsides and one of those include a great time to purchase a home. If you are toying with the idea of purchasing then consider these points.

First of all, someone moving in winter probably needs to leave his or her property quickly for job relocation. These owners are more willing to negotiate which benefits the buyer because the buyer can get a better deal. To say what everyone is thinking, they are desperate. Which is good news for you. On the flip side, do not list your house in the winter if you are trying to get the most out of the sell. Bargain hunters are on the prowl for a good fixer upper.

House prices are annually at an all time low in the winter season. The buyer will get more purchasing power and get more bang for your buck by purchasing at the end of the year. This is due to lower level of listings and preoccupation with more pressing motives such as holidays and family.

Touring homes in winter can be rewarding. Right away you can tell if the windows are drafty, if the central heating and AC are working, or if your feet are already freezing on the hardwood floors. This can save you costs in the future and make huge impacts on your future daily life.

Winter may just be your season this year.

 

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Stage the Scene

One of the most important items to check off the list when selling a home is to stage the home. Not many people realize this or would even know how or where to start. You want the buyer to see the home as you once saw it. Somewhere they can hang their hat and relax on the couch with Netflix after work. A place in which they can host dinner parties and drink wine with old friends. Professional stagers can get expensive and add extra costs to an already large project. These are some DIY tips for doing it without dipping into the funds too much.


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The goal is to give the buyer an idea of what the home would look like if it were theirs and not yours. Pack away all personal items and store them. The upside to this is that it gives you a chance to begin packing and stage the house. Two birds, one stone. Family photos and pet products can make it distracting to the potential buyer so they won’t be able to imagine living there. Clear any clutter from the counters as well as children’s toys. Decluttering the home increases the buyer’s interest because they aren’t focused on your interests. Orderly stack your boxes in a corner of the garage to minimalize clutter and unsightliness. This is an extremely cheap way to stage your home without extra effort or costs.


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If the home hasn’t had a good clean paint job in years then its time to break out the can and brush. This will give a new feel to your walls and also create a new home smell. Go with a neutral color like white, off white, or beige. It sounds outdated but it is actually sound advice. Not everybody will enjoy your guacamole colored bathroom as much as you did.


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Clean the house. I know, I know. You lead a busy life so it is hard to keep it pristine. The fact is buyers don’t want to smell little Billy’s stinky baseball cleats or your precious Taffy cat’s litter box. Get rid of any potentially off putting odors. Temporarily hide or put outside the litter box and spray some Febreeze. Even better bake cookies or place some cloves and cinnamon sticks in a crock-pot with water. Either have the house professionally cleaned or take a day off to really get down and dirty. That includes carpets, baseboards, and ceiling fans. Then when you think you’re done, do it again.

Now that you are a semi-professional home stager, you can charge your friends to stage theirs while selling your own. Best of buyers to you.

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Simple tips for selling your home during the Holidays!

A Welcoming Curb Appeal

Maintain a polished look by keeping gutters clean and shrubs trimmed. Be sure to also remove any hazards by shoveling, sanding, and removing any ice or snow from the driveway, walkways, and sidewalks. To engage buyers on a gloomy day, keep the front porch well lit, use potted evergreens or berry branches, a wreath on the door, lanterns, and a seasonal welcome mat.

Simple and Elegant Holiday Decor

Do not overdo! Buyers want to see the home’s permanent features and a fireplace or window covered with too many ribbons and stockings will distract from key focal points. Instead, incorporate elegant finishing touches such as mercury glass votives and ornaments for some sparkle paired with candles, pine cones, berries and twigs.

Create Warmth With Lighting

Use modest lighting as an accent to create an inviting ambiance. Scatter a few lightly scented tea lights in votives, candles in varying heights on beautiful pillars or lanterns and soft white string lights on the front porch, entry stairway or fireplace.

Splashes of Minimal Color

Too much traditional green and red can compete with existing decor and command a room’s attention. A couple of red plaid throw pillows or a red wool blanket draped on the sofa will add just enough festive pop. We also love using silver and gold paired with fresh, white seasonal flowers to complement freshly painted neutral walls that appeal to nearly all buyers.

Keep It Bright

With shorter days, let in as much natural light as possible by opening blinds and curtains. Make sure that all lights are working, light bulbs have been changed, and be sure that the property is well lit both inside and out for late afternoon showings.

The new “Top Ten” that might turn off a home buyer!

1. Boldly Painted Walls

Decorators often tout black or another bold paint color as the perfect backdrop to metallic accessories or appliances in modern home design.

The reality is that people prefer the exterior and interior walls of a home to be neutral. Even though repainting is cheap and relatively easy to do, it’s still a pain and buyers might not want to bother.

When decorating, your best bet is to stick to an appeasing hue for the walls and use accessories to provide pops of color.

2. Wallpaper

Bold, graphic patterns increasingly are being incorporated into interior design, often in the form of wallpaper.

But wallpaper—even if it’s only on one wall—is an extremely personal choice and time-consuming to remove if it doesn’t appeal to the buyer

Consider replacing wallpaper with a neutral paint for broader appeal.

3. Lavish Light Fixtures

While potential buyers want rooms that seem airy and bright, beware of installing a showpiece light fixture that is too modern or ornate.

Fixtures should enhance your home—not steal the spotlight.

4. Gleaming Gold

Designers may be mixing silver and gold to give homes star quality, but it might be wise to change out fixtures if they have the wrong metallic sheen.

Gold can give a home an outdated, ’80s feel. Switching out the faucet and door handles with a more appealing finish—such as brushed nickel—is relatively inexpensive and can help make your home appear sleek rather than out of style.

5. Converted Garages

People want a covered parking space so that they have a safe place for their car—especially in areas where street parking is at a premium. Additionally, people often use their garage as storage space.

If you convert your garage into a space tailored your specific needs, such as a music practice room, it may not suit your potential buyers.

6. Converted Bedrooms

Like with the garage, people want rooms built for their original purpose.

If you’ve converted an unused bedroom to an office, walk-in closet, or a game room, make sure you can easily convert it back to a bedroom when you’re ready to sell.

7. Carpets

While designers love to play with the texture of shag carpeting as it feels soft underfoot, the majority of home buyers prefer hardwood floors.

People assume carpets trap dirt, germs and odors, and they don’t want to go through the hassle of steam cleaning their home before they can move in. Potential buyers also don’t want to spend time removing carpet to expose hardwood floors.

If someone really loves carpet, it’s much easier for them to add it themselves—after the purchase.

8. Too-Lush Landscaping

The “outdoor living room” is all the rage, and you may be tempted to build out your backyard into a lavish wilderness of flowers.

But potential buyers may be hesitant to buy a home with an overly landscaped property requiring a lot of maintenance.

Focus on creating or maintaining a nice and neat outdoor space that people can enjoy without too much fuss.

9. Pools and Hot Tubs

A pool may seem like a luxurious feature, but it can be a big turnoff for buyers.

Pools are perceived to be expensive to maintain and potential safety hazards, especially for families with children. Above-ground pools are eyesores and can leave a dead spot in the backyard.

These sentiments extend to hot tubs, too. Many people see hot tubs as breeding grounds for bacteria, and they are not a feature easily removed from the deck or back yard.

10. Fancy (or Not) Pet Products

Sales of pet products are expected to increase nearly $3 billion from last year, and there’s an increasing market for luxury pet items.

But even animal lovers don’t want to see another family’s pet paraphernalia in a potential home. Even if your home is immaculate, the presence of pet-related items will give the impression that it’s dirty.

Be sure to remove all traces of your pet—including toys, food dishes and photos—before listing your home for sale.

How your Realtor establishes your home’s “comps.”

One of the first things an Agent will do is run an analysis of current market data and Comparable Market Analysis, or CMA. These are known as “comps.”

Your agent will use the value of nearby properties of comparable size and quality to determine a ballpark price for your home. Comps in your neighborhood are houses of lesser and greater value that your agent takes into consideration to determine a fair median value for your property.

Your agent will work with you to establish a listing price. The process includes a walk-through of the property and/or a preliminary appraisal by a professional appraiser. With comps as the starting point, a walk-through will show the agent the parts of your home that add value. These might include upgraded appliances, hardwood floors, a new roof, a landscaped front and backyard (succulent garden, anyone?), and close proximity to schools, nightlife, restaurants, public transportation, etc.