Boost Credit Scores with Rental Payment History

Did you know? Experian became the first credit reporting agency to add on-time rental payments to its database. Rental payment data being added to credit files can potentially help renters become homeowners and we can only hope the other credit agencies will follow suit. For many Americans establishing credit can be difficult because many credit card companies and retail stores are not approving credit applications as easily as in past years. Potential buyers are now going to see they will have a credit score and hopefully help them achieve a lower risk category too, Experian says. “Consumer financing rapidly changed during the economic upheaval, and regulatory changes forced lenders to tighten the standards for the underwriting process,” says Genevieve Juillard, president of Experian Consumer Information Services. “This excluded many Americans from the opportunity to attain credit due to a limited or no credit history. Residents who pay their rent on time month after month should be rewarded and not overlooked simply because they rent instead of own the place they call home.”

Experian recently conducted an analysis to determine how the new rental information has aided consumers’ credit files. The study shows that the addition of rental history on a subprime mortgage moved the participant up at least one higher(or less risk) by the addition of the newly added field. What does this mean for potential buyer? It means more affordable credit and additional credit opportunities.

To read more about the lead being taken by Experian click here>>>>>>Experian-rentbureau-credit-for-rent-analysis

 

“Real difficulties can be overcome; it is only the imaginary ones that are unconquerable.”

– Theodore Newton Vail U.S. telephone industrialist

Source: http://realtormag.realtor.org/daily-news/2014/08/08/study-rental-payment-history-can-help-boosts-credit-scores?om_rid=AAEWoH&om_mid=_BT5TNOB87s9Kmy&om_ntype=RMODaily

What Are Benefits of Working with REALTOR® & Rountree Realty

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Experience: The typical REALTOR® has 11 years of experience 80% of REALTORS®  have over 6 years. With an average of 8 transaction sides closed per year, the knowledge your REALTOR®  possesses is invaluable in the success of residential and commercial advertising, appraising, renting, leasing, buying, selling, auctions or exchanges.

Education: Real Estate Associates must complete 63 initial hours of education before licensure and an additional 45 hours before 2 year anniversary. Brokers must have 2 years experience in real estate field and complete 72 hours of coursework to obtain Broker license with an additional 60 hours to completed within 2 years. Also, 30% of REALTORS have a Bachelors or some college experience.

Local Expert: A Realtor that specializes in a local market will know things that are not appearing on the listing information online; they’ll know more about the neighborhood. Letting a Realtor take what is a very emotional decision and apply objective criteria is one of the largest benefits.And when it’s time to write an offer, they’ll know what other properties have sold for and the intricacies of those properties, the differentiating features, so then you can get the best deal for your money.

So I would say it’s ok to shop on your own, but absolutely retain a trained professional REALTOR® for one of the most important purchases that you’ll make in your entire lifetime.Only real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® (NAR) can call themselves REALTORS®. All REALTORS® adhere to NAR’s strict Code of Ethics, which is based on professionalism and protection of the public. That’s why all real estate licensees are NOT the same. “Dedicated to serving America’s property owners at local, state, and national levels, the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, is the largest professional association at 1 million members strong. So, whether you’re buying or selling a home – it pays to work with a REALTOR®. Look for the REALTOR® logo when choosing your real estate agent. -Courtesy of NATIONAL ASSOCIATION OF REALTORS®”

“Perform at your best when you best is required. Your best is required each day.” John Wooden

HOT Sales Activity in Ocala

Today I am going to be talking about a few areas of Ocala experiencing a little heatwave on our “Trend Maps.” Something we have not been experiencing for the last couple weeks here in the Horse Capital of the World, Ocala, Florida. What are trend maps? A trend is a general direction something is going and combined with a map provides a look at “Sales Activity” based on zip codes. The statistical data is overlaid onto a map and provides a more visually geographical representation compared to simple data chart. The trend map included here shows the “HOT” areas for “Sales Activity” right now are 34472(Silver Springs Shores), 34476(Shady Hill area, Ocala), 34481(Leroy area, Ocala) and 34491(Summerfield.)

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Sales Activity Map Trend for Ocala, FL

I also thought it would be interesting to look at the median DOM(Days on Market) to contract, for these same zip codes. Notice the trend for most of the zip codes have gone down from the same time last year. The only zip code experiencing a longer days on market is Silver Springs Shores area due to the higher foreclosure rate and over supply. So we are seeing these areas experience higher sales activity and less days on the market to contract. If your a seller it is a great time to “SELL.” If your on the fence about selling it might be time to talk to a great local REALTOR, me, and find out if the time is right for you. If your a buyer and you want to buy in one of these zip codes, It’s time to get with your preferred lender, get on the phone, text or email me.

Days On Market To Contract
 

 

CHOOSE A SEASONED REALTOR PROFESSIONAL TO SELL YOUR HOME

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WHY CHOOSE A SEASONED PROFESSIONAL? WE HELP YOU SELL YOUR HOME FAST AND FOR TOP DOLLAR….

There’s nothing wrong with saving a few cents here or there, but when it comes to seeking medical help, building a decent stock portfolio, or dealing with something as ugly as an IRS audit, it’s better to seek out a professional’s advice.

Buying or selling real estate also fits in that category. Remember, you’re dealing with one of the largest assets you’ll ever own! Don’t waste time doing it the “self-service way.” This is an important and life-affecting decision! To insure a fast sale for top dollar or to find a home that matches your criteria for a reasonable price, work with a seasoned professional.

I have nearly 13 years of experience working with buyers and sellers right here in Marion County, and I’ve earned several of advanced learning designations including Graduate REALTOR Institute, At Home With Diversity, GREEN  available to real estate agents. In fact, I’m one of just a few agents in the area with a broker’s license. What does that mean for you? My advanced education and experience helps me zero in on your highest priorities, create innovative and effective marketing programs guaranteed to attract attention to your home, and put transactions together for a worry-free closing day.

I have lived in the Marion County area since 1986, and my family has owned property on Lake Kerr & we vacationed here since the early 70’s. I have a passion and desire to be the TOP RESIDENTIAL REALTOR® in the area.

Over the years, I have helped hundreds of families buy and sell real estate. I will be happy to provide you with a long list of satisfied clients who attest to my professionalism, my expertise, and my attention to every detail.

 Call me today at 352-572-1739 for a FREE, no-obligation report on “How to Prepare Your Home for Sale.” No hard sale, just solid ideas to put more money in your pocket.

 John Wayne “DUKE” Rountree / GRI, TRC, AHWD, GREEN

 

Deerback Lake w/ White Sand Beaches

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Beautiful Lake Front 1990 Manufactured Home with 2 bedrooms and 2 baths on Springfed Deerback Lake located 7 miles North of Fort McCoy and only 35 minutes from Ocala.  Relax under the Oaks trees and watch the spanish moss blow in the breeze. Catch largemouth bass, bluegills, catfish and so much more. 1036 Living Sq. Ft. with central A/C and Heat and wrap around deck. Loaded with upgrades like Metal Roof, Hardwood Floors, Fireplace and Extra Large Screened Porch and Deck overlooking lake. Lighted Dock With Water. Move In Ready! Bring The Boat, Skis and The Fishing Pole. Listed for $99,999

 

 

 

 

 

 

 

 

 

Ocala, Florida Area Local Market Report 2011 – 3rd Quarter

TODAYS MARKET…. Median Price and Existing home Sales

All real estate is local and every market is unique. Remember that when you hear reports from the major new networks. We are seeing some positive signs in the Ocala / Marion County Market with the Median Home Price now at $80,900 with 1-year Appreciation at -1.6% and a 3 year Appreciation of a whooping -40.1%. This relatively recent correction in local home prices wiped out most of the equity gained over the last 7 years. State Existing Home Sales(2011 Q3 vs 2010 Q3) is at +10.6% for Florida and Nationally 17%.

FORECLOSURE info by type…

The market share of Foreclosures by type is 88.3% are Prime Loans, 5.1% are Sub-Prime Loans and 6.6% are Alt-A Loans. There has been a decline of both 60 and 90 day delinquency rates over the most recent 6-month period suggests a decline in local foreclosure rates in the near future.

AFFORDABILITY….

Based on Ratio of Local Mortgage Servicing Cost to Income, Ocala has typically been more affordable than most markets. For example the Monthly Mortgage Payment to Income for Ocala is 6.6% compared to 15.5% in the United States for 2010 and 5.7% locally for 2011 and 13.9% nationally with the historical average at 11.3% locally and 22% nationally. The price to income ratio has fallen as well and is below the historical average.

So what does this all mean?

Well it could mean we are close to reaching the bottom of the housing value slide. But it will take a strong economy and more local jobs for the housing market to continue gaining traction. There is less inventory on the market with an increase in buyer activity, compared to the same time last year. We are a long way from seeing appreciation in our homes but hopefully close to reaching the bottom and no more depreciation of value.

“Until Next Time”