Orlando Florida Real Estate Blog

When you are preparing for a major purchase make sure you check your credit scores and credit reports from all three credit reporting agencies: TransUnion, Equifax and Experian. Looking at your scores and reports a few months before your loan application will help you get a complete picture of your credit health. Worried if your credit score makes the grade? If your credit score is above 700 you will probably qualify for a prefferedloan. Under 650, you may have trouble receiving new credit.

Payment history - A good record of on-time payments will help your credit.

Outstanding debt - High balances in relation to your credit limits can harm your credit. Aim for balances under 35%.

Credit account history - An established credit history makes you a less risky borrower. Think twice before closing old accounts before a loan application.

Recent inquiries - When a lender or business checks your credit, it causes a hard inquiry and a slight ding to your credit score. Apply for new credit in moderation.

Types of credit - A healthy credit profile has a balanced mix of credit accounts and loans.

If your credit score is a little low, pay your bills on time, reduce your debt, remove inaccuracies and avoid new inquiries for a few months. Plus, don’t forget that your credit score is not the only factor a lender may look at when they are evaluating your financial standing.

Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs. Please give me a call if you have questions about the Orlando and Central Florida real estate market.

Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011

If you have patience then buying a short sale is the way to go. If you can wait the 3-4 months that it takes to negotiate a short sale then your patience should pay off. A short sale is another word for pre-foreclosure. You are purchasing from a motivated seller and negotiating with a motivated lender.

The seller want to sell to avoid foreclosure and the lender also wants to avoid foreclosing. Foreclosing on a property is very expensive to a lender, sometimes costing the lender up to $40,000 to foreclose on a property. The savings can depend upon many factors like condition of the property, location of the property, the motivation of the lender and seller.

A buyer normally can purchase the property for approximately 10%-20% below market value.

So, if you have the patience and are looking for a great deal on an Orlando area property please give me a call.

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs. Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden, or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.