Do you believe your negative credit history disqualifies you from buying a home? That might not be the case. And even if you’re not in the position to buy today, there are some simple, effective actions you can take to boost your future prospects.

If you’re like most people, buying a home means securing a mortgage. To secure that mortgage, you need to convince banks you’re a good bet. Here’s how to start on the path to making your dream home a real home:

1. Work towards a 10% down payment: Down payment assistance is very difficult to get without a credit score north of 640. So if you’re below the line, you’re going to help your odds of pre-approval by proving you have 10% down to put on your home. That 10% is especially helpful if your credit score is sub-550. Above 550 you might be able to land an FHA loan with only 3.5% in equity.

2. Make moves to rebuild your credit: You don’t have to be perfect to improve your access to better mortgage terms. Here’s how to put points back on top: 1) Pay down your highest credit card balances first. 2) Get your credit report and look for errors you can correct or dispute. 3) Identify any outstanding debts or collections which you can manage to get cleared either through full payment or negotiated settlement. If you can push your rating above 620 you’ll not only get closer to better terms, but generally you’ll experience less scrutiny during the approval process.

3. Get a realistic picture of your debt-to-income ratio. Focus on doing what you can to bring your debt-to-income ratio below 45%. Mortgages do exist for people with higher ratios, but generally credit scores are well above 600 for this to become a reality.

4. Understand your “seasoning period.” If you’ve experienced a bankruptcy, foreclosure, or short sale scenario, it may not be possible for you to secure a mortgage for at least three years (and sometimes two, depending on the situation). Use this time to work on the three tips above.

If you’d like to begin hunting for your next home, we are happy to help guide you. Or, if you need a referral to a reputable mortgage professional, get in touch! We have a network of trusted folks we work with every year:

Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com

Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com

Ever find yourself overwhelmed by maintaining your lawn? Have you worried about the amount of water it takes to keep things green and growing? What if there was a way to transform your lawn to both make it both ecologically-friendly and strikingly different from every house on the block?

Xeriscaping (or xerogardening) is the practice of landscaping and gardening in ways that reduce or eliminate the need for excess water. Taken from the Greek word, “xeros” (meaning dry), xeriscaping was initially designed to provide landscaping options for areas which are particularly sensitive to drought.

Given that water is the most precious resource on the planet, perhaps you might you might consider this conservationist’s approach to landscaping your home. In addition to reducing the costs of watering and chemical maintenance, well executed xeriscaping can actually improve the curb appeal and value of your home.

Here are a couple of links on the topic of xeriscaping, including the “7 Principles of Xeriscaping”:

“Xeriscapes do not have a single look - almost any landscaping style can be achieved. The principles can be applied to all or part of a yard, in any geographic region of North America.”

Also, check out these Google Image examples of Xeriscaping:

 Xeriscaping can be the perfect way to compliment your new “green home.” If you’re looking for a house with a gentle ecological footprint, get in touch with us today:

Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com

Sometimes people inherit a home they simply need to unload and other times they don’t want to make the effort to make repairs or tune up the home’s curb appeal. For these home owners looking for a quick sale, they often think selling a home “as is” is the way to go. If you’re like most folks, you might think the “as is” sale means “take it or leave it” and “what you see is what you get.”

But an “as is” sale isn’t necessarily a cakewalk. It doesn’t mean you’re completely exonerated from taking some responsibility for the home’s condition. While advertising a home “as is” lets buyers know they’re likely to have to do some work, it also broadcasts that the home is probably going to be a relatively good deal, provided they’re willing to take on repairs.

“As is” doesn’t relieve you from disclosing problems with the home. What you know about, you must disclose by law. Failure to do so could get you into hot water. If you know about a problem but hope it slips by the buyer’s inspector, you’re at risk.

And that’s another thing: “As is” homes still go through the inspection process. While your “as is” sale may indicate your unwillingness to make repairs, it doesn’t mean the buyer won’t ask you for compensation based on condition issues. You may not come out of pocket, but it could come right off the top of your listing price, so keep this in mind. What’s more, once these conditions come to light you generally must disclose them to future prospective buyers if the current one bails.

With any luck, your “as is” buyer will be a cash buyer, but if not, prepare for the appraisal. Banks don’t want to loan money unless they deem the value of the home is acceptable. If the appraisal comes in low, your buyer may find themselves without the funds necessary to meet your price.

While selling “as is” may seem like a viable alternative to bringing a house up to its full market potential, recognize there are some trade-offs. Go in informed and you’ll find the process much easier to navigate.

Whether you’re looking to sell “as is” or not, we're happy to help you get the best price possible for your home. Let’s talk when you’re ready!

Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com

Screen addiction is real, and it’s not just adults who are suffering from the impulse to reach for that phone or tablet. It’s also taking a toll on kids. Even the parents of Silicon Valley giants are raising their kids with a dose of low-tech mindfulness.

If you’re looking for ways to track and manage the amount of time you spend staring into your magic screens, you might want to check out the browser extension “Waste No Time” and the mobile app “Moment.”

According to the website, “WasteNoTime is a browser extension which is designed to help you manage your time spent on the Internet more efficiently. Time Tracker feature gives you reports on what web sites you spent most of your time. Instant Lockdown feature allows you to focus on your work for a period of time with limited Internet access. Time Quota feature automatically block selected web sites when you have spent a preset amount of time on them each day.”

As for Moment, “Moment is an iOS app that automatically tracks how much you use your iPhone and iPad each day. If you’re using your phone too much, you can set daily limits on yourself and be notified when you go over. You can even force yourself off your device when you’re over your limit.”

There’s also Moment Family to “manage your family’s screen time from your own phone and set up time for your entire family to be screen-free using family dinner time.”

If you want to break the cycle of screen addiction, check out these apps.

Waste No Time

Moment

We love to use tech to help our clients improve their lives. We also use it to help market and sell homes. Let us show you how!:

Realty Executives Midwest

1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com