Welcome to May.  80 degrees today!  

I'm curious whether people read the newsletter intro.  So if you see this, send me an email or text me at 616-293-6240.  One lucky winner will recieve a limited edition keybox.  

Homebuyers tend to move like a herd – they stampede together and they graze together. Signs your market is easing may include showings with fewer offers, longer days on the market (tracked by our multiple listing service) and more questions, contingencies and demands from buyers.  Also rising interest rates will impact home pricing.

I can help you with sales and staging strategies and bring offers from qualified buyers. So what can you do to help?

Make your home pristine.
There’s a huge difference between a home that’s “move-in ready” and one that “needs work.” Show pride of ownership by putting your home in top move-in condition so that your home is more appealing to buyers than any other home in your area and price range.  And think about how your home looks to buyers as they walk through.  The photo is from a house I showed.  While the homeowner probably thought it was cute, a prospective buyer taking a quick glance might not appreciate a silhouette of a rat running up the stairs.

Price and stage it right for the prospective buyer.
Homes that are priced fairly and in pristine condition will be treated with respect and enthusiasm by buyers. Consider pricing slightly below market value to attract more interest from buyers.  Give an adequate time for buyers to see your home.  While it might be fun to tell that your house sold 17 minutes after the sign went up, was it the best possible buyer for your property?  If your house is perfect for first time buyers, include a washer and dryer in addition to the stove and refrigerator.  One less thing that they need to put cash out for after they just extended themselves to buy your home.

Consider purchasing a home warranty. 
If a buyer uses most of their available cash to buy a home, they don't want to have unplanned major expenses.  A home warranty can give peace of mind so that if the unexpected happens, the buyers aren't financially devastated.  And normally, an increased sales price will more than make up the cost of the warranty. 

Right now there is a historic shortage of homes available in the greater Grand Rapids area.  While it is great for sellers, it can be brutal for buyers.  Often there are many showings in popular price ranges which generate multiple offers.  Is this self-sustaining or will it change?  The short answer is yes, it will change.  The exact time hard to predict though.  Besides rising prices, interest rates are heading up also.  They are going up about 1/4% every 3 months, which means 1% annually.  Unless a buyer's income increases, the amount of mortgage will be reduced.  Which means that the price available to pay for housing is reduced.

 

If you love your home and it fits your lifestyle, stay where you are and don't move.  You live in one of the best places in the country.  Not just my thoughts but many national surveys and studies back that up.    

 

But if the time is right to move to a different floor plan or rightsize, I want to sell your home.  You will receive top dollar to transition into the next chapter of life.  And you will help someone to fulfill their homeownership dream.

FICO scores, the Fair Isaac Corporation credit-scoring system, are used by lenders to determine your creditworthiness. The lower your scores, the more risk you pose to lenders, resulting in higher interest rates or loan denial.

Scores fluctuate for many reasons, including your debt-to-income ratio, making minimum payments only, credit inquiries and other factors. But nothing impacts credit scores like a missed rent or revolving credit payment. And, for the best-scoring consumers, the drop in credit scores is the most punishing.

Making timely payments is one of the easiest things you can do to show you’re using credit responsibly, which is why your payment history accounts for the largest part of your FICO score—35 percent.

Late payments remain on your credit report seven years from the original delinquency date, regardless if the payment is made and the account is current or if the account is closed and the payment is never received, according to Experian.com.

The more recent the late payment, the more it can impact your scores. If you’re late or missed a payment, make the account current as quickly as possible. The length of time it takes to recover will depend on whether the late payment is an anomaly or part of a habitual pattern.

Establish a current history of on-time payments. Use at least one credit card, paying in full each month to avoid finance charges.  

On-time payments will add positive activity to offset negatives from the past, and over time your credit scores will rebound.