We have all been bombarded recently with talk about credit scores.  It seems as though it affects every aspect of our purchasing power, from where and how we live, to the rates on our car insurance.

A credit score, or more accurately a FICO score, (named after the company that developed the system, Fair Isaac & Company) is comprised of one’s credit accounts, payment history and other information.  The FICO score is a closed number rating system which starts at 300 and maxes out at 850. 

Most experts say the best number to have is 720 or above.  At 720, you are viewed as a safe risk and typically receive a loan without problem and at a low interest rate. However, if your number is below 700, you may want to consider making some changes before trying  finance a new loan a refinance a current loan.  If you do not know your credit score, the web site myfico.com will sell you a comparison of your three credit reports from the three main companies:  Experian, Equifax and TransUnion along with your FICO score for $40.

Basically your FICO score is created based on your past history in the following categories:

·         35 percent Payment History: “Having a long history making of payments on time and no missed payments on all credit accounts is one of the most important items lenders look for.”

·    30 percent Amount Owed: “This measures the amount you owe relative to the total amount of credit available. Someone closer to maxing out all their credit limits is deemed to be a higher risk of late payments in the future and this can lower their credit score.”

·    15 percent Length of Credit History: “In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts.”

·    10 percent New Credit: “Opening several new credit accounts in a short period of time can lower your credit score. Also multiple credit report inquiries can represent a greater risk, but this does NOT include any requests made by you, an employer or by a lender who does so when sending you an unsolicited, “pre-approved” credit offer. Also, to compensate for rate shopping, the score counts multiple inquiries in any 14-day period as just one inquiry.”

·    10 percent Types of Credit in Use: “Your mix of credit cards, retail accounts, finance company loans and mortgage loans is considered.

Now that you know what a FICO score is and how to obtain it, the next step for most is how can you raise the score.  If you are considering a loan or refinancing sometime in the near future,  it really is never to late to try to raise your score.   Six months of “good behavior” can have an impact on your score.  Because payment history comprises the largest part of your FICO score, making a habit of paying bills and other payments on time is obviously going to have the largest positive impact.

While there’s no question that having a good credit score is essential, it’s also important to point out that FICO scores do not take your age, income, assets or employment history into account. Specific lenders may pay closer attention to income, assets and employment history. Also, FICO scores treat all late payments equally. However, an auto finance company, for instance, can look at customized scores tailored for their industry. If you’ve been late on credit card payments but never missed a car payment, they may take this into consideration.

Please contact us at www.overlandproperty.net for your real estate needs.

In today’s real estate market, buyers are internet savvy.   Often by the time they meet with a real estate broker, they have already narrowed their search on-line to a few homes or commercial properties which fit there needs. Thus, many services a buyer’s broker used to perform, such as searching properties for sale and narrowing the field for potential buyers,  are now being completed by the buyers themselves. 

In a nut shell, we are willing and able to provide a buyer’s rebate program because we are not spending as much time, energy, and expense up front helping a buyer find property.  Not to mention, with a slowing economy and much competition amongst brokers, we would be lying it we did not say we also are doing it to stand apart from the pack! 

A buyer’s rebate program works as such:  a home sells for $300,000.  The Seller typically pays a commission of 6% of the selling price, which is split between brokers representing the buyer and seller. On a $300,000 home with a 3% cut for the broker representing the buyer,  the broker earns $9,000 and pays 25% of that, or  $2250, as a rebate to the buyer.  This amount would be credited at closing to the buyer.  Visit our website at www.overlandproperty.net for more information and restrictions. 

Now is a great time to incorporate a New Year’s resolution into your home selling experience.  Look at your property with a very objective eye.  As we pass through the same doors day in and day out of our homes and commercial properties,  our senses become numb to the details around us.  In visiting many, many properties over the last several years there are a few items that seem to be a reoccuring issue. 

1) Cobwebs seem to be the number one item home owners neglect to clean.  Take extra care around front and back porches.  It takes 5 minutes to just take a broom the sweep around the front and backs doors.  Also check for any spider webs in the corners of rooms and again, just take a broom or duster and sweep in the nooks and crannies.  

2) Clutter!  Need we say more?  Well, we will.  Less can sometimes be more as the saying goes.  Try to clean off your counter tops, put away unused items and make your home inviting, not overwhelming.

3) Presence of pets.  If you have pets, especially cats, please try to make sure you lessen their presense.  Make sure to clean the litter box daily!

Small little items like this can make a huge first impression. 

If saving money is top on your list for 2008, sign up with us to list your home.  Flat rate listinsgs in general save sellers thousands of dollars in real estate commissions.  Visit www.overlandproperty.net for more information on the services we offer!

The holidays can be a stressful time for all homeowners who have their house on the market.  Now you have the added pressure of a down turn in the economy, winter weather and making sure your home is still spotless.  Take the worry out of dinner for tonight and make a very easy brisket.  Your house will smell great and your family will enjoy a great meal together!

Add some vinegar, salt and pepper and water to a Pyrex dish-enough to cover a 3 to 5 pound brisket without spilling over the sides of the dish.

Add the brisket to the dish and place alumimium foil tightly over the brisket.

Bake at 275 degrees for about 8 hours.

Add any BBQ sauce and perhaps a bit of brown sugar to the brisket turn oven up to 350 degrees and bake for one more hour.

When serving, cut brisket against the grain

Should serve enough for 6 people with some leftovers even!

Happy Holidays from all of us at Overland Property Services, Inc!

Many property owners would like to know “What is a flat fee listing?” 

Answer:  In a traditional full service brokerage relationship, a seller pays a commission based on the sales price of the property, to the seller’s brokerage firm, which is then split between a buyer’s broker and a seller’s broker.  Though there is no set commission fee amongst competing brokers, commissions usually add several thousands of dollars to the cost of the real estate transaction.  Services rendered for this fee vary greatly and are often hard for the property owner to quantify and verify. 

With a flat fee listing service you pay, what in almost all cases, amounts to be a fraction of a commission cost up front to a brokerage firm such as Overland Property Services, Inc.  For your reduced fee, you receive almost exactly the same marketing services as our full service competitors (and in some cases it is even more inclusive!). 

The main difference between a limited service or flat fee listing versus the full service traditional listing is the listing broker’s involvement in the contract process. If you have a traditional full service contract with a broker, part of his/her service is to ideally provide assistance once your property goes under contract through the close of the property.  In a flat fee service listing, the seller or landlord maintains control of the contract/leasing process.   You may choose to self manage the deal or you may choose to have Overland Property Services, Inc. provide for a sales contract or commercial leasing process. If you do choose to purchase the transaction management option we provide, there still is a substantial savings to the seller or landlord versus paying for a traditional full service brokerage package. 

 For more information on flat fee real estate listings in Northern Colorado please contact us at info@overlandproperty.net or 970-631-8987.

We would like to take a moment to introduce Overland Property Services, Inc.   We are a real estate brokerage firm in Northern Colorado that serves Fort Collins, Loveland, Windsor, Greeley, Longmont, Berthoud, Wellington, Eaton, Severance, Ault, Milliken, Johnstown and Timnath. 

 We offer two types of brokerage services: flat fee and full service.  There are many choices when it comes to full service brokerage firms in Northern Colorado but we are one of the only local firms to offer flat fee real estate listing services for both commercial as well as residential real estate.   We are a local firm with experience in and knowledge of the local market. 

Flat fee listings are beneficial to the property owner for many reasons.  We would like to highlight our flat fee services for your consideration.

Today, in this global economy, local, regional and national exposure for your property is key!  à With the changing real estate market, most buyers and sellers do all of their preliminary sales research on-line.à Driving around looking for “For Sale” signs no longer draws the same attention as it did in the past.à Overland Property Services, Inc. offers real estate packages for clients who wish to keep real estate commissions at a minimum. à We have several options for sellers of residential properties and for sellers/landlords and commercial properties (including land parcels). With a flat fee service you pay, what usually amounts to be a fraction of what a full commission would cost, up front to a brokerage firm such as Overland Property Services, Inc.  à For your reduced fee, you receive almost exactly the same marketing services as our full service competitors (in some cases it is even more inclusive!).à We also have a thorough and varied list of a la carte options a seller or landlord may wish to purchase in addition to our basic listing packages. à Lastly, our listing term is for a full year!  Nearly all of our competitors for flat fee provide an initial 6-month listing period. 

We invite you to explore our web site and view all of the options we can provide you in terms of real estate services for a fraction of what you would pay in a traditional brokerage relationship.

 Many questions you may have about how this brokerage relationship works are addressed in the Frequently Asked Questions (FAQ) of our website, but should you need further information or wish to speak with us directly, please do not hesitate to contact us at info@overlandproperty.net. We look forward to working with you!  

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