RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Who Can Provide The Best Advice On The ROI Of Home Repairs?

April 12, 2017 12:57 am

I was recently drawn to a Kiplinger report that affirmed home sellers can get some of the best advice on repairs they could make to sell their home faster, from their own REALTOR®.

According to the Kiplinger report by Pat Mertz Esswein, your agent can recommend the improvements that he or she thinks will provide the most bang for your buck, the quickest sale, or the highest asking price.
The article also suggests if sellers have any doubts, they can verify their agent’s advice by attending open houses of comparable homes in their market.

One Denver Realtor® told Esswein that if a seller anticipates a major home system is reaching the end of its useful life, the seller should pay to have it inspected and serviced.

Dana Dratch at bankrate.com unpacked another source - the inaugural Remodeling Impact Report from the National Association of Realtors and the National Association of the Remodeling Industry.

Similarly, that study examines 20 home renovation projects, analyzing what they potentially return at resale. The big surprise in that report is that neither kitchen or bathroom remodels came in at the top.

The winning remodels in terms of ROI? Replacing old siding with new vinyl siding costs about $12,000 and returns about 83 percent of what is spent, the study finds. Dratch talked to David Pekel of NARI who is president / CEO of Milwaukee's Pekel Construction & Remodeling.

He says for many street-facing homes, a new garage door “has traditionally ranked as one of the highest returns on investment." At an average cost of $2,300, according to the report, that project returns about 87 percent at resale.

Published with permission from RISMedia.


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How to Improve Your Credit Score

April 12, 2017 12:57 am

Many Americans hope to improve their credit score. Whether you’re planning on applying for a mortgage or a loan in the future, or just want to do your financial due diligence, the experts at Experian offer the following tips for improve your credit score.  

Review your credit report regularly — Your personal credit report is an easy-to-read record of your credit accounts and total indebtedness. Be sure to obtain a copy of your credit report once every 12 months (and especially before major purchases) and dispute any information you believe is inaccurate. You can request a copy of your report directly from Experian or once every year from Annual Credit Report.

Check your credit score — Credit scores can play an important role in your financial journey. They translate the information in your credit report into a number reflecting the risk of doing business with you. To check your risk, request a credit score when you order your credit report. You will receive an explanation of what the score means and which details from your credit report are most affecting it.

Keep your utilization rate low — Your utilization rate, or balance-to-limit ratio, should never exceed 30 percent of the credit limit. Your total credit card balances should never be more than 30 percent of your total credit card limits, and you don't want any one card to have a balance of more than 30 percent of its limit. Both can hurt you. Remember, 30 percent isn't a goal; it's the maximum your balances should ever be. The lower your utilization rate, the better.

If you have missed payments, get current and stay current — Late payments, called delinquencies, may have a major negative impact on credit scores. To see the fastest improvement in your scores, catch up on late payments and pay down your balances. Late payments are the most important indicator of credit risk, so they have the greatest and longest-lasting impact. The more recently the missed payment occurred, the greater that impact will be, and the more missed payments you have, the longer it will take to recover. If you fall behind on your payments, contact your lenders to see if they can improve the terms of your debts.

Source: Experian

Published with permission from RISMedia.


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