Uncertain About How Your Credit Score Affects The Financing Process?

As Americans enter the peak time of year to buy a home, a recent survey from TransUnion reveals a majority of those planning on or considering buying a home in the next 12 to 18 months are unsure about actions that could help improve their credit score. A majority was also unsure about what their credit score directly affects in the home financing process.

The national consumer survey found that while nearly three out of four (74 percent) potential home buyers believe it’s important to check the accuracy of their credit report, only 45 percent or fewer correctly understand that their credit score measures the amount of debt they hold, risk of not repaying back a loan, or the financial resources they have to pay back loans.

“As many people across the nation prepare to take advantage of still-low interest rates and look to buy a home, it’s essential they understand their credit score before applying for a mortgage,” says Ken Chaplin, senior vice president at TransUnion.

Despite the fact a majority of consumers recognized the importance of a credit score, one in three incorrectly thought increasing their income (33 percent) or closing old accounts (28 percent) before applying for a mortgage has the potential to help improve their credit score.

While 76 percent of prospective home buyers surveyed were at least somewhat confident (38 percent very confident; 38 percent somewhat confident) that they understand the finance process and the terms of their home loan, many were unable to identify the specific factors that a credit score affects in the home buying process. Only half of respondents correctly identified what a credit score affects, including interest rate (52 percent), the amount they can borrow (53 percent) and their mortgage lending terms (50 percent).

According to the survey, just 22 percent of people correctly identified that they should check their credit score during the three months leading up to a mortgage application. In contrast, nearly one-third (29 percent) of people surveyed believed one month before purchasing a home was a good timeframe to check credit scores. However, a one-month timeframe gives consumers little time to take action if they discover fraudulent activity like identity theft or old, unpaid credit card debt that could negatively affect their score.

To help people better protect their identity and credit, TransUnion offers a credit monitoring tool with a new feature: Instant Credit Alerts. Through these alerts, users will automatically get an email when a creditor requests their TransUnion credit report as part of a credit application.

TransUnion shares the following tips for those preparing to take out a mortgage:

• Start with your credit report. Make sure it’s as accurate as possible, that your scores are where you want them to be, and that no one else has access to your credit.
• Do your homework. Research loans, rates and brokers before you sign anything. Doing this work now will pay off later with a better rate and terms.
• Be realistic on what you can afford. The larger your down payment, the wider your options. Putting more money down, up front, will help ensure you pay less each month.
• “Not now” doesn’t mean “never.” If home ownership isn’t a realistic option for you right now, that doesn’t mean it won’t be in the future. When it comes to a major purchase like a home, timing is critical.

Info from Sharper Agent

Shauna Quick

Realtor

Exit Realty Success

shaunaqsellshomes@gmail.com

www.shaunaqsellshomes.com

801-550-4419

Year of Gratitude- October

"Gratitude opens the door to the power, the wisdom, the creativity of the universe. You open the door to the universe."

-Deepak Chorpa

October:

I am grateful for...

-Beautiful fall colors:
I love to drive in the canyon and around the city and see all the beautiful changing colors.

-Hiking with my family:
I love to take a few hours out of my day and spend time with my family in the beautiful mountains.

-Chocolate (no picture needed)

-Books:

Please share what you are grateful for this month!

Shauna Quick

Realtor

Exit Realty Success

801-550-4419

shaunaqsellshomes@gmail.com

www.shaunaqsellshomes.com

Common, But Easy To Fix Decorating Mistakes

Some would say there are no decorating mistakes—that what you like in your home is what counts. But the very hip home designers at Home and Garden Television (HGTV) believe a number of common but tired decorating traditions are long overdue for an update.

Here are seven of the easy-to-fix practices they recommend for every home:

• No more toilet rugs – Rugs that fit around the toilet base and often have matching seat covers actually make a bathroom look smaller. Opt for a small, rectangular rug placed away from the toilet to open up the room.
• Don’t ignore the foyer – It’s the first glimpse visitors see of your home.  Make it welcoming with an appropriately sized furniture piece, an accent rug well-grounded to the floor, a plant, an umbrella stand or statue, or any other attractive piece that is functional or unobtrusively decorative.
• Too many photos – A dozen or more family photos grouped on a table or shelf make for clutter and are seldom really seen.  Instead, display 5 or 6 of your favorites, nicely arranged on a ‘gallery wall,’ and switch them out every few months.
• Outdated kitchen accessories – If you can’t afford to update cabinets, give the kitchen a new look by modernizing with new drawer and cabinet pulls—and ditch those outdated cookie jars and canisters for a few more modern accessories.
• Uncomfortable chairs – Whether they’re dining chairs or living room chairs, their most important function should be comfort. If they’re not comfy, sit in a few new models and choose the chairs you like best.
• Visible clutter – Unsightly clutter like that treadmill in the corner ruins the look of any space. Hide it behind an attractive screen, and invest in stylish shelves or baskets to keep other must-have eyesores in their place—but out of sight

Don’t keep something you hate – You don’t need to display that ugly vase forever, even if you got as a wedding present. Everyone updates at one time or another, so be brave and ditch it for something you like much better.  

By Barbara Pronin

Shauna Quick
Realtor
Exit Realty Success
801-550-4419
www.shaunaqsellshomes.com
shaunaqsellshomes@gmail.com

Getting Your Home Ready For Fall

Interior Maintenance

1. Check for drafts. Feel for drafts around the edges of windows and doors. A good tip is to use a lit candle and if the flame flickers, there’s most likely a draft. If necessary, replace seals and repair sealing around window and door frames. Consider buying heavier or insulated drapery for especially drafty windows.
2. Have your furnace inspected. Hire a professional to test for leaks, check heating efficiency, and change the filter. They can also check for carbon monoxide to ensure air safety. It’s also a good idea to stock up on extra air filters and change them every few months.
3. Winterize air conditioning. If your home has central air conditioning, (and you live in a climate where you won’t need it any longer,) it may be necessary to cover your outdoor unit for winter. If you use window air conditioning units, remove them or cover to prevent air leaks
4. Test home safety devices. Replace the batteries in all smoke detectors and carbon monoxide devices and test to make sure they’re working properly.
5. Clean humidifiers. Replace old filters and clean inside compartment. Vinegar is inexpensive and works well.

Exterior Maintenance

1. Do a roof check. You should be able to do at least a visual inspection of the roof from the ground. Grab some binoculars to get a closer look or if you’re able and can do so safely, climb on up for a better view. Look for missing, damaged, or loose shingles. If your roof is flat, you may need to remove leaves and debris.
2. Check the chimney and fireplace. If you have a wood fireplace and use it often, have your chimney cleaned and inspected by a professional.
3. Stock up on firewood. Order enough firewood for the season. If you gather your own firewood, make sure it’s dry and ready. It’s best to cover firewood and store away from the house for safety reasons.
4. Inspect siding. Check home exterior for cracks or holes. Repair them yourself or hire a professional.
5. Clean the gutters. Hire a service to clear your gutters or do it yourself. Remove leaves, nests, and debris from gutters and check for leaks.
6. Check water drainage. Make sure rainwater downspouts are clear of obstructions and direct water is away from foundations, walkways, and driveways. Add extensions to downspouts if necessary.
7. Turn off faucets and store hoses. Drain garden hoses and disconnect from the outside spigots. Shut off exterior faucets, and if you have an older home, you may need to turn off the valve inside your home. Store hoses in a dry place so any residual water won’t freeze.
8. Service sprinklers and irrigation system. Depending on your climate, your irrigation system may need to be drained and checked. Have a professional perform any necessary repairs and mark sprinkler heads near snow removal areas.
9. Trim landscaping. Cut back bushes, shrubs, and flowers as recommended for your climate zone.
10. Bring in flowerpots. If you keep plants or flower in pots year-round, bring them inside. If you replace plants every year, empty, clean, dry pots and put away for next spring.
11. Plant bulbs. If you plant bulbs for spring, now’s the time to get them in the ground.
12. Leaf removal. Rake and remove leaves from the yard. Put into a compost pile if you have one. Alternatively, put into yard garbage bags and leave at the curb for community pick up. Check with your local city or town for requirements and pick up schedules.
13. Fertilize lawn. Applying fall lawn fertilizer will help prevent winter damage and spring weeds. Ask a local garden center or check online to find out which type of fertilizer you need and when to apply it. If you have a lawn service, they should do this for you.
14. Put away seasonal furniture. Clean and store seasonal outdoor furniture. Remove and clean cushions. Wash and dry furniture and store in a dry place over winter.

In the Garage

1. Service summer power equipment. Empty fuel and clean lawnmower and trimmer. Have lawnmower blades sharpened and oil changed. Have any necessary repairs done now, so that you’re ready come spring.
2. Store summer vehicles. If you have a motorcycle, summer car, ATV or other type seasonal vehicle, now’s a good time to have that serviced as well.
3. Get winter equipment ready. Service snow blower and make sure it is ready to go, especially if you live in an unpredictable climate.
4. Clean the garage. Since you’re in the garage prepping for fall, you might as well purge, organize and clean it while you’re there!

Shauna Quick

Realtor 

Exit Realty Success

801-550-4419

www.shaunaqsellshomes.com

shaunaqsellshomes@gmail.com

Salt Lake City IS The Best Place To Live! Here's Just A Few Reasons Why...

 The Society of Young Professionals Salt Lake City point to five rankings that prove that Salt Lake City is the best place to live. They include:

5. Livability.com ranks Salt Lake City #5 in the nation for favorable downtown amenities.
4. Forbes ranks Salt Lake City as the fourth best city for Young Professionals to live.
3. Time Magazine ranks Salt Lake City as the second friendliest city in America.
2. According to a 2014 Gallop poll measuring job creations through employee reports of job activity in 50 major metropolitan areas, Salt Lake City placed first, beating out other booming cities like Austin, Houston, and San Francisco.

1. National Geographic ranked Salt Lake City as the best U.S. hiking city based on the quantity and accessibility of its hiking trails within a short distance of downtown.

Source: Salt Lake Realtor Magazine, September 2015 issue.

Shauna Quick
Realtor
Exit Realty Success
www.shaunaqsellshomes.com
shaunaqsellshomes@gmail.com
801-550-4419

A Year of Gratitude- September

"Gratitude is one of the sweet shortcuts to finding peace of mind and happiness inside. No matter what is going on outside of us, there's always something we could be grateful for."
-Barry Neil Kaufman 

This month, I am grateful for:
-Campfires:
It's one of my favorite things to do in the summer!  I love to sit around the campfire, talk and make s'mores 

-Beautiful music
-Referrals from my friends, family, and clients
The last few months I have been so happy to help my former clients family members sell and find a home.  I Dave referred me to his brother Scott and sister-in-law Megan.  It was so great to serve them and to meet Dave's family!  Thanks for the referral Dave!
-Old family photos
What more can I say, it's so wonderful to run across old photos weather they are my parents or grandparents.  It is so fun to see them active and full of life!

Share what you are grateful for this month!

Shauna Quick
Realtor
Exit Realty Success
801-550-4419
shaunaqsellshomes@gmail.com
www.shaunaqsellshomes.com

10 Quick Checks a Year Can Keep Your Home in Top Condition

If you live in cold weather, fall is when you put in the storm windows. If you live in a warm climate, summer is when you step up the pool maintenance. No matter where you live, however, checking on – and maintaining – 10 areas of your home each year is one good way to ensure your home stays in peak condition.

From the home maintenance consultants at Home Depot, here is where – and how – to begin:

1. Roof – In early fall, check around vents, skylights and chimneys for cracks or leaks and repair or replace tiles as necessary.
2. Gutters – Clean gutters so leaves won’t clog them, and be sure they drain away from the house.
3. Fireplace – Clean out any leftover ashes. If heavily used in winter, you may want the chimney professionally cleaned. Make sure the damper is closed tightly.
4. Filters – Clean or replace furnace filters once every month or as needed. Check and clean the dryer vent, air conditioner, stove hood and room fans regularly.
5. Safety equipment – Be sure smoke detectors and fire extinguishers are in good working condition. Replace batteries twice a year.
6. Air conditioner – In cold climates, put on waterproof covers when you cover or remove outdoor furniture.
7. Refrigerator – Test door seals once or twice a year to be sure they are airtight. Test by closing the door over a dollar bill. If you can pull the bill out easily, the seal may need to be replaced. If you have a coil-back fridge, the coils should be vacuumed twice a year.
8. Faucets – Check for leaks in kitchen and bathrooms and replace washers as necessary.
9. Windows and doors – Replace seals as necessary to keep heat in and drafts out. If you added up all the tiny cracks where heating and cooling escapes, it could be the same as having a window open.
10. Siding and paint – Look for cracks or peeling areas. Repaint or replace caulk as necessary.

By Barbara Pronin

Shauna Quick

Realtor

Exit Realty Success

801-550-4419

shaunaqsellshomes@gmail.com

www.shaunaqsellshomes.com