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SOLD – 126 Apple Blossom, Murphys

126 Apple Blossom, Murphys

If location matters, this could be your home right in the heart of Murphys. Bright and clean 3 bedroom 2 bath home is move-in ready. There is a large wrap-around deck that is perfect for outdoor entertaining and relaxing. Take a quick and easy stroll to Murphys Main Street dining, wine tasting, shopping and entertainment. Mature trees and established landscaping welcomes you to your personal sanctuary. Home has new exterior paint and a recent section 1 pest clearance. Adjacent vacant lot is also offered for sale.

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SOLD – 865 Santa Fe Ave. Hughson

Park-Like Setting on Over an Acre with House and Granny Flat. Over 2200sf with 4 Bedrooms with a Great Country Atmosphere. Separate Granny Flat of 1200sf with 1 bedroom, 1 Full Bath, Kitchen, and its own Building. Detached Workshop/2 Car Garage. Horse Stables with Room for Corrals and Riding Area. Surrounded by Trees and Views. A Must See!

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Housing market predictions for 2023

Housing Predictions

We’re rounding the corner on 2022 and quickly heading toward a new year. That makes this a perfect time to prognosticate real estate matters for 2023. With mortgage rates escalating higher, home sales — and, in some areas, home prices — hitting the brakes, and increased uncertainty felt throughout the market, many homeowners, prospective sellers and prospective buyers are nervous about next year.

And for good reason. Consider that, at the time of this writing, the average 30-year fixed-mortgage rate is 7.04 percent. The inflation rate is an alarming 8.2 percent. And sales of previously owned homes dropped 1.5 percent in September from August to a seasonally adjusted annual rate of 4.71 million units, per the National Association of Realtors, which means that existing homes are selling at the slowest pace observed in 10 years.

We reached out to several industry experts, each of whom offered interesting forecasts and projections about where mortgage rates, home prices, buyer competition, housing supply, sales activity and home affordability are headed in 2023. Curious what the pros think? Read on for their evaluations and predictions.

Will mortgage rates continue to climb?

With interest rates roughly doubling from their lows in early 2022, it’s a fair assumption that the cost of financing a home won’t be coming down this year. But how about across 2023? Is there any light at the end of this dark tunnel?

Some say no. “Continued inflation, overall higher interest rates, a potential recession, and geopolitical tensions will force 30-year and 15-year mortgage rates up throughout 2023 and will bring the two rates closer together as short-term risks rise,” cautions Dennis Shirshikov, a strategist at Awning.com and a professor of economics and finance at City University of New York, who foresees the 30-year and 15-year benchmark mortgage loans averaging 8.75 percent and 8.25 percent, respectively, across 2023.

Robert Johnson, a professor of finance at Creighton University’s Heider College of Business, shares some of those sentiments.

“By the end of 2023, financial market participants expect that the Fed will have increased the target Fed funds rate by 175 to 200 basis points from current levels. That would translate into 30-year and 15-year mortgage rates at roughly 8.50 and 7.70 percent,” he says.

Rick Sharga, executive vice president of Market Intelligence for ATTOM Data Solutions, which analyzes real estate and property data, is more hopeful. He posits that rates peak at about 8 percent and 7.25 percent for 30-year and 15-year loans in early 2023, “then gradually come down over the course of the year somewhat to hang in the range of 6.0 percent and 5.25 percent, respectively. This is entirely dependent on the Federal Reserve’s ability to get inflation under control and ease up on its aggressive rate increases.”

Three different roads for interest rates

Nadia Evangelou, senior economist and director of Real Estate Research for the National Association of Realtors, meanwhile, envisions three different rate scenarios occurring next year.

“In scenario #1, inflation continues to remain high, forcing the Fed to raise interest rates repeatedly. That means mortgage rates will keep climbing, possibly near 8.5 percent. In scenario #2, the consumer price index responds more to the Fed’s rate hikes, and there is a gradual deceleration of inflation, causing mortgage rates to stabilize near 7 percent to 7.5 percent for 2023. In scenario #3, the Fed raises rates repeatedly to curb inflation and the economy falls into a recession. This could cause rates to likely drop to 5 percent,” she explains.

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What Are Discount Points and Lender Credits?

Getting a Mortgage

A home purchase is one of the most significant financial decisions most people will ever make. Unless you’re paying for a home entirely in cash, which isn’t typical, it’s sensible to meet with your lender to discuss ways to reduce costs. Two methods of reducing how much you pay for your home are lender credit and discount points. But what is lender credit, and what are discount points?

Lender credits and discount points can have benefits, but it’s important to understand the difference between the two. To help you make an informed decision and prepare for a healthy financial future, here’s an explanation of how points and lender credits work.

What Is Lender Credit and What Are Discount Points?

As a starting point, imagine two homebuyer scenarios.

Scenario 1: A young couple decides to purchase a home where they plan to raise their growing family. Their parents are helping with the down payment, and they have sufficient funds for closing. Both individuals work full-time and have promising careers. They’re comfortable, but they’re aware of the expense of raising a family over time, and they’re concerned about their financial future.

Scenario 2: A single parent with two children in college decides to purchase a small home near the city where her children plan to live and work. Her available cash is currently limited, but with her children soon on their own, her expenses will go down. In addition, she anticipates rental income from her current home, although she may decide to sell later.

In one scenario, discount points might be a good choice, while in the other, lender credit might be the better option. Which homebuyer should choose points, and which should choose lender credit? Or neither?

Keep in mind that you’re not required to accept discount points or lender credits when applying for a mortgage but choosing to do so could help you in the short term or over time.

  • Discount points lower the interest rate of your loan by paying a certain amount upfront.
  • Lender credits allow you to lower your upfront costs by getting closing cost credits in exchange for a higher interest rate on your loan.

Among other considerations, your future plans should weigh heavily in your decision to take advantage of discount points or lender credit. Do you anticipate living in your home for the life of the loan or most of it? Is selling possible or likely in a few years? Other possibilities include refinancing later or paying the mortgage off early, both of which can make discount points less impactful.

Choosing between credits and points isn’t complicated when you understand the differences and evaluate your plans or potential lifestyle changes in the future. There is no one-size-fits-all answer, but with careful evaluation, you’ll have the information you need to make a decision.

Understanding Lender Language

In the process of searching for your new home, no doubt you’ve come across unfamiliar real estate terms. Words like pre-qual, contingencies, seller concessions, backup offers, and many others require close attention. In the same way, people who work at banks, mortgage loan companies, and other lending institutions have their own terminology. And those terms can be used in various ways.

With that in mind, mortgage lenders may seem to use points, discounts, and credit inconsistently. While specific programs are referred to with these terms, a lender may also use them in other ways.

For example, a mortgage lender might use the term “points” when talking about both discount points and lender credits. That’s because a “point” can refer to a specific amount of money: one percent of the loan amount.

Likewise, lenders also use terms like credit to talk about some form of compensation or bonus they may offer you, but that credit might not be related specifically to lender credits. For instance, if there is an error during the loan process, they may offer a “credit” to help make up for it. A mortgage lender might also offer a credit or incentive if someone referred you or the lending institution has a promotional offer, but these generally don’t impact your interest rate in the long term.

If a mortgage lender mentions terms like credits or points, don’t hesitate to ask for clarification. You’ll want to be sure of the facts and be able to make a sound decision that sets you up for success in the long term.

What Are Discount Points and How Do They Work?

Discount points allow you to pay more upfront to receive a lower interest rate. That lower interest rate could decrease your monthly mortgage payment or reduce how many payments you need to make before your home is paid off. If you don’t plan on refinancing or paying your mortgage off early, buying points could be a good option.

If you’re interested in buying points, remember that one point is equal to one percent of the loan amount. It’s not one percent of the interest rate, although it’s sometimes confused.

Let’s return to the young couple buying their first home, where they plan to raise their family.

If they take out a $100,000 loan, one point would represent 1% of that amount, or $1,000. They can also buy partial points, so a half-point would be $500, and one-and-a-quarter points would be $1,250.

If they choose to purchase points, the dollar amount will be due at closing, which will raise their total closing costs. However, the points purchased will lower the interest rate on their loan, which means they will have lower monthly payments. How much the interest rate is lowered depends on the lender.

Before deciding, they will need to ask their lender for specifics on how buying points will impact their interest rate and monthly payments. The more points they purchase, the lower their rate will be.

Your loan amount might not be as simple to work with as an even $100,000. However, your lender will make calculations appropriate to your situation and provide a Loan Estimate within three business days of you completing a loan application.  The Loan Estimate lists details such as the type of loan, the loan amount, discount points, insurance, projected monthly mortgage payments, and estimated closing costs. It’s a good idea to carefully review the Loan Estimate to ensure it fits your expectations.

Keep in mind that a Loan Estimate isn’t an approval or denial of your application, and it does not mean you can’t change the details. It’s intended only as information about the loan package you discussed with your real estate agent. You can also use it to compare other offers side by side.

If approved, and you accept, the specific information relating to discount points you may have purchased will be listed in a Closing Disclosure, which your lender will provide at least three business days before closing. This document provides the finalized details and terms of the loan including lender fees, your monthly payments, and all expenses due at closing.

The exact amount you’ll save per point depends on the type of loan, the current market, your lender, and other factors.

What Is Lender Credit and How Does It Work?

Although not completely accurate, it’s helpful to think of a lender credit as the opposite of points. When you buy discount points, your closing costs go up. However, if you accept lender credit, your closing costs go down. On the other hand, by agreeing to pay points at closing you can get a lower interest rate over the life of the loan, which means your monthly payments will be lower over the term of the loan.

The single parent mentioned earlier, who plans to buy a small house in the city where her two adult children live, might want to understand what lender is? This may be a good option for her, as she currently has limited cash, but no concerns about future income or expenses. In addition, she has uncertain plans and may decide to move to a warmer climate in five or ten years.

By selling the home she plans to purchase, she will pay off the mortgage early. That makes the higher interest rate and higher monthly payment that accompanies a lender credit less impactful over time.

Lender credits are calculated in much the same way as points, and your lender might even call them “negative points.”

Lender credits are listed in your Loan Estimate and Closing Disclosure, just as discount points are. The more credits you choose to take, the higher your interest rate will be. However, other factors such as current interest rates and type of loan can affect the actual number.

Should I Use Discount Points or Credits?

Points may seem the most appealing option for many homebuyers, as even a small increase in the interest rate can add up over a 15- or 30-year mortgage. However, the situation isn’t always so straightforward.

The decision process needs to consider how much the purchase of points lowers your interest rate and monthly payments. What’s more, if you intend to refinance later or pay off the mortgage early, then buying points may not be a wise decision.

On the other hand, opting for lender credit in exchange for higher interest rates may seem unappealing at first. However, the money you save immediately may benefit you more than higher monthly payments will stress your budget in the future.

If you add all expenses incurred during your homebuying experience, including home inspections, appraisal fees, attorney fees, pro-rated property taxes, and lender fees, among others, home buyers need a lot of cash readily available in addition to a down payment. Saving on closing costs can help pay for moving expenses, home improvement, furnishings, and other necessities.

Understanding the differences between discount points and lender credits will help you make the right decision. Evaluating the pros and cons of each according to your own situation is essential.

Pros and Cons of Discount Points

Discount points allow you to reduce your interest rate by paying a certain amount upfront. The cost of a point is equal to one percent of the loan balance, so a point is equal to $1,000 with a $100,000 loan, $2,000 with a $200,000 loan, and so on.

Pros

  • Paying for several points upfront could mean saving much more over the life of the loan.
  • Points may be worthwhile when they help you lock in a lower interest rate if mortgage rates are expected to climb.
  • A lower interest rate can mean a lower monthly payment.

Cons

  • The upfront cost may not prove worthwhile
  • The cost might not be feasible, especially considering other costs associated with homebuying and moving.
  • If you plan to refinance or pay off your mortgage early, you likely won’t see the savings you expected.

Pros and Cons of Lender Credits

Lender credits allow you to reduce upfront costs by accepting a higher interest rate

Pros

  • Lender credit saves money upfront, which is helpful if your available cash is low, or you have other immediate expenses.
  • Choosing to invest the savings into your home could help you build equity or make your home more livable from the start.
  • If you plan to sell or refinance your mortgage in the coming years, the increased interest rate may not have a substantial effect on you and may justify the initial savings.

Cons

  • A higher interest rate could add up to tens of thousands of dollars over the life of your loan, especially if you’ve chosen a 30-year term.
  • If you don’t refinance or pay off your mortgage early, you’re almost guaranteed to pay more interest than the upfront savings you gained.

Comparing Your Options

Understanding what lender credit is and how discount credits work, it’s important to evaluate your options, given your specific loan type, term, and rate. If you’re considering points or credits, you should ask your lender to help you visualize a few scenarios.

  • Request a side-by-side comparison of your loan as-is, with a chart showing the interest rate and total paid minus one point and another that’s plus one credit.
  • Ask for the same comparison, this time with the number of points or credits you’re considering (make sure they’re equal).
  • Evaluate the same comparison again, but this time using the length of time you expect to keep the loan, rather than the full loan term.

These comparisons will take some time, but it’s essential that you fully understand your options before moving forward. Remember, you can also choose to take neither points nor credits and accept your loan as-is, which may be the best choice for you.

Reducing Your Interest Rate in Other Ways

When you’re almost ready to finalize your loan, buying points is a chance to lower your interest rate. However, If you’re only considering purchasing a home, and you want to be certain you get the best possible rate, it’s important to consider the following.

  • Your debt-to-income (DTI) ratio is directly representative of the risk the lender is taking when approving you for a mortgage. Paying down debt is the fastest way to improve your credit score and reduce the risk the lender perceives, thereby lowering your interest rate.
  • Your credit score is a major factor in the interest rate you’ll qualify for. You can raise your credit score by requesting negative items you don’t recognize (i.e., late payments) to be removed from your report, paying your credit cards on time, reducing balances, avoiding new inquiries, and avoiding new account openings or closures in the year leading up to your mortgage application.
  • Your chosen loan amount will also impact your interest rate and monthly payment, as well as your “front-end DTI.” This reflects the percentage of your income required for housing costs. Choosing a loan for a lesser amount by choosing a more affordable home or making a larger down payment can reduce the lender’s risk and, therefore, reduce your rate.
  • Your down payment amount generally must be a minimum percent of the home’s sale price, which helps the lender reduce their risk because you’re staking your own cash. It also reduces the loan balance.

Get Informed and Take the Next Steps

With this information in your arsenal, you’ll no longer wonder what lender credit is. Knowledge is power, especially when it comes to saving money on your home purchase. Now you’re equipped to confidently decide which avenue is best for your financial future.

Source: capitalbankmd.com ~ Image: Canva Pro

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SOLD – 1337 E Glenwood Ave. Turlock

SOLD

Investment Opportunity!! Own a House on a 26, 200sf Lot (0.60 of an Acre).. Country-Ranchette Property with Approx. 1361sf Home with 3 Bedroom and 2 Full Baths. You Could Own 3 Lots… There’s a possibility of splitting and adding two 5000sf Residential lots (Zoned RL) in the back that would Front Pecan. See maps and check with the City of Turlock. There’s plenty of room to raise your family and animals, and live within the city limits. A Must See!

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SOLD – 1023 Hartwick Ave. Turlock

Alpine Estates. Great Home in North Turlock. Great Curb Appeal…Over 1800sf with a Large Great Room with Brick Fireplace, Open Kitchen, and Easy to Entertain. Newer Appliances, Wood-laminate flooring throughout, and Newer Roof. Attached Sun Room which is set for a Media or Game Room. Master Suite is Huge with Walk-in Closet, Shower Stall, and Double Sinks. Great Open Plan, Large Rooms Throughout, and a Good Flow with 3 Bedrooms, 2 Full Baths, & Inside Laundry. Tool Shed in the Backyard with a Cute Landscaping surrounding the Fence Line.

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Do These 11 Things Before Putting Your Home on the Market

Home Staging

Not sure how to get your house ready to sell? Fortunately, you can take steps before putting your home on the market to increase your chances of receiving a solid offer from a buyer. From cleaning and staging to repainting and depersonalizing, here are 11 things you can do to get a house ready to sell.

  1. Research your local housing market

    First and foremost, do your homework on the value of your home. Start by researching the local housing market through Realtor.com. Take a look at comparable sales in your neighborhood to figure out your appropriate listing price. Pay attention to the various comps’ square footage, features and location, and think about how they compare to your home. For example, your neighbor’s home may have sold for $1 million, but if your home is considerably smaller, you’ll most likely need to list your house for less. Of course, a reputable realtor should be able to assist with finding comps and determining a listing price for your home.

  2. Find a listing agent

    Speaking of realtors, we highly recommend enlisting a professional real estate agent to list your home. You should be able to find a realtor through Realtor.com and word-of-mouth recommendations. When interviewing a listing agent, ask about their experience in your neighborhood, connections to potential buyers and social media expertise. The realtor should be able to give you a thoroughly laid out plan for how they are going to sell your home.

  3. Buy more light bulbs

    Go ahead and stock up on light bulbs. When showing your house to potential buyers, all light fixtures and lamps must be turned on. For this reason, it’s important that all lights in your home have working light bulbs.

  4. Give your house a deep clean

    First impressions mean a lot. So, don’t let foul smells, dirty floors or dusty surfaces make a bad one on a potential buyer. Before listing your home (and throughout the selling process), give your home a deep clean. This means cleaning toilets, wiping surfaces, mopping floors, cleaning rugs and scrubbing bathrooms. Consider calling in the professionals (think: Stanley Steamer and a housekeeper) to ensure that your place is in pristine condition.

  5. Declutter the home

    Decluttering and organizing your space will go a long way in appealing to potential buyers. When a home is clutter-free, buyers can focus on the actual home instead of the excess junk, accessories and overflowing closets.

  6. Call a handyman

    When getting a house ready to sell, you should have your handyman on speed dial. Make sure anything and everything that needs to be fixed (think: locks, hardware, leaky faucets, running toilets, cracks in the walls, broken appliances, squeaky doors, etc.) is fixed before listing a home. Otherwise, buyers may think your home hasn’t been well taken care of, which can be a turnoff for many. Here’s why you should hire a handyman before and after your move.

  7. Paint the walls

    Now’s the time to repaint your home. Start by painting over those bright orange and green walls with neutral colors. Stick to whites, light grays, light beiges and “greige” wall colors. These shades will make your home appear bigger, brighter and more welcoming. Adding a fresh coat of paint to your home will also help cover the wall’s imperfections and convey a blank slate to potential buyers.

  8. Stage your home

    According to multiple studies, staging a home really can help it sell faster and for more money. Fortunately, staging your home’s interior can be easy and affordable. Don’t forget to also spruce up your home’s curb appeal when staging the home. After all, the outside of the home is the first thing potential buyers will see when they arrive for a showing. So, make sure that the grass is cut, the yard is landscaped, and the knick-knacks are gone (think gnomes and children’s toys). If your home looks a bit rundown, you should also consider adding a fresh coat of paint to the exterior walls. Here’s our ultimate guide to home staging.

  9. Hire a professional photographer

    Given that many potential buyers search for homes online, it’s crucial to include high-quality, professional photos in your online listing. Without excellent high-resolution images, potential buyers may (sadly) overlook your home. So, before putting it on the market, go ahead and hire a professional photographer to snap photos of your clean and staged abode. Keep in mind that a realtor should be able to help with finding a photographer, so be sure to ask who they use when interviewing real estate agents for the job.

  10. Rent a storage unit

    When getting a house ready to sell, it’s important to declutter and purge your belongings to clear the house of excess belongings. If you’re willing to rent a temporary storage unit before selling a home, this will give you a safe and secure place to store all of your extra stuff when staging and showing the house.

  11. Depersonalize your home

    When selling a home, you want to strike the perfect balance between depersonalization and the appearance of a warm, welcoming home. This means putting away most framed photos, bulletin boards and personal items (think photo albums, magazines, toys, awards, etc.) throughout the home. Leave a few nice, framed photos around the house to make the home more inviting.

Tips for selling your house quickly and efficiently

Now that your home is ready to hit the market, here are a few tips for getting it sold quickly and efficiently.

  • Invest in good listing photos – First impressions matter, so make sure your home’s listing photos highlight the home’s best features. Invest in a professional photographer who has experience with real estate photography. Your realtor should be able to help you enlist a qualified photographer so that you don’t have to search for one. Remember: You don’t need photos of every single room and closet in the home. Photos showcasing the home’s best features and selling points are a great way to entice buyers to schedule a showing.
  • Plan an open house – If you’re willing, host an open house with your realtor to create buzz around the new listing. Open houses are a great way to attract all sorts of buyers and buyer’s agents. If you end up with multiple bids – or even one great offer – in one day, you might not have to show your home over the course of multiple weeks.
  • Be flexible with showings – Showing a home to buyers is never convenient. But if you want to sell quickly and maximize your selling price, it’s important to remain flexible and accommodating when showing a house to qualified buyers. We recommend keeping your house as clean as possible and having a place where you can quickly dump clutter when needed, such as a car, outdoor shed or portable storage unit.
  • Market your home effectively – In today’s housing market, your realtor must have a good deal of marketing know-how, such as using social media channels, emails, mailers and events to stir up interest in your home. A good realtor should be able to harness different marketing strategies to find potential buyers.
  • Avoid over-improving your home – While it’s important to get your house in top condition when listing it, you shouldn’t tackle costly additions and improvements – especially if you want to sell the home quickly. Renovations can take months to finish. To sell quickly and efficiently, try simple improvements, such as decluttering, repainting, and fixing obvious issues, such as holes in the wall.

Putting your house on the market FAQs

Keep reading to find answers to the most ask questions about putting your house on the market.

What should you do to your house before you sell it?

What you do to your home before you sell it depends on its current condition, any necessary improvements that need to be made, and your chosen listing price. For instance, if you wish to list your home for a high price, you may need to make certain improvements to get your price. On the other hand, if you wish to sell a home as-is and not make improvements, then you may need to compromise on the price. We recommend asking your listing agent for guidance on both price and preparation for listing your home. You can also follow our checklist above to get your house ready to sell.

What should you not do before selling your house?

Most realtors advise not undergoing costly renovations or long, time-consuming changes to your home unless it’s necessary. You also do not want to choose the wrong real estate agent to list your home. Be sure to interview multiple agents and consider their pitches before choosing a realtor for the job. Choosing the right realtor will set your home sale up for success.

Don’t forget to also assess the local housing market to get a sense of your competition and your home’s value. The last thing you want to do is list your home too high or too low. The wrong listing price is probably the biggest mistake you can make when selling a home.

Finally, it’s important to declutter and clean when selling a home. Many sellers overlook the importance of a clutter-free home when showing a house. Don’t let your things (and mess) distract buyers from the house itself.

How long does it take to sell a house?

According to the National Association of Realtors (NAR), it takes an average of 18 days for a home to go under contract from the time of listing. Of course, the amount of time a home sits on the market depends on a number of factors, including location. According to Realtor.com, homes located in the top 10 hottest zip codes of 2021 were under contract within three to nine days from the listing day.

When is the best time to sell a house?

In general, the best time to sell a house is considered the month of May, when homes tend to sell faster and for more money. Of course, the best time for you depends on a number of different factors. Your location, life circumstances and the overall economic climate all affect whether it’s a good time to sell a house. Before you list your home, make sure you’re really ready to sell it and go through the process of showing it to strangers.

How do I get a messy house ready to sell?

Cleaning a home before showing it to potential buyers is a no-brainer. First impressions matter and a dirty home may be a deal-breaker for many. To get your house ready to sell, we recommend first decluttering and purging items you don’t need. Whether you’re throwing it away, donating it or storing it, get as much clutter out of your house as possible. Once you’ve decluttered, you should be able to organize and straighten up your house more easily. You may also want to give your home a deep clean (or, at the very least, a light clean) to put your best foot forward.

How do I make my house look good enough to sell?

Besides decluttering, organizing and cleaning, it’s important that you stage your home with furniture and accessories. Not only does staging a home make it look more appealing, but it also helps buyers picture themselves living inside your home. The “2021 Profile of Home Staging” by the National Association of Realtors states that 82 percent of buyers’ agents claimed that staging a home helped buyers visualize the property as their own. By staging a home, you’re increasing the likelihood that it will sell faster and for more money.

How do I decide on my price?

Pricing your home right is the most important thing you can do when selling a home. If you overprice the home, it could sit on the market for a long time. If you underprice the home, you’ll leave money on the table. A seasoned real estate agent should be able to give you expert price guidance. If you want to price and sell the home yourself, take a look at comparable sales (comps) in your town and neighborhood. When comparing your home to other listings, pay attention to the square footage, location, features and amenities that it offers. You’ll need to look at a wide range of comps to determine a fair asking price for your home.

Ready to move?

So, you’ve spruced up your home, put it on the market and sold it. Congrats! Now it’s time to start planning your move. To find a reliable and trustworthy moving company, check our extensive network of movers. We make it easy to compare quotes from hundreds of long-distance movers and local movers near you – free of cost. All relocation companies in our network are licensed and insured, so you can rest assured that your move will be in good hands. Best of luck and happy moving!

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SOLD – 2021 Spring Valley Dr. Turlock

SOLD

North Turlock, Gated Community, 55+ Community. This Charming Home has Approx. 1148sf with 2 Bedroom and 2 Full Baths. Very Comforting Floor Plan with lots of windows throughout. Great Corner Lot near the Entrance and Exit, has some space. New Fence in the Backyard with Pavers, Tool Shed, Patio, and Garden. Master Bedroom has Double Closets, Double Sinks, and a Large Shower Stall. Big, Open Kitchen with Formal Dining Area. Front Living Room with Lots of Windows with Views. Inside Laundry, Lots of Built-in Cabinetry, many Garage Cabinets, and More.

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SOLD – 107+AC E Linwood Ave. Turlock

SOLD

Water, Water, Water…Young Almonds in the City of Turlock Urban Reserve Designation. Approx. 107.85 acres of TID Ground, Water, and Power.  Block #1 is 56 Acres of 4th-year-old Independence that produced 90,000 pounds last year.  Block #2 is 51 acres of soon-to-be Independence (planting in the next two weeks). Tree spacing is 21×16. 150hp Deep Well with 1500gpm to run the Ranch, One-Set, Double line Drip.  The owner will be installing Micro-sprinklers on the 4-year trees in the next couple of weeks.  75hp Booster Pump from the TID District Water. Great Soil, Great Water, and Near the City Sphere of Influence.

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How Is Your Credit Score Calculated and Why Is It Important?

Your credit score affects whether you can get a credit card, rent an apartment, buy a house, start a business, or even get a cell phone contract.

You know credit scores exist. You might even know what yours is. But do you know how it’s calculated and why it’s important?

Your credit score affects whether you can get a credit card, rent an apartment, buy a house, start a business, or even get a cell phone contract.

A low credit score can limit your choice of loans or determine if you can get one at all — and if you can, it might have a high-interest rate.

“There’s a huge cost to having a low credit score that happens to people, an actual true financial cost to them, and it’s a shame that people don’t learn about this or know about it or pay attention to it until usually it’s too late,” said Colleen McCreary, consumer financial advocate at Credit Karma.

Here’s a look at how you can create healthy habits to avoid having a low credit score:

WHAT IS A CREDIT SCORE?

A credit score is a mathematical formula that helps lenders determine how likely you are to pay back a loan. Credit scores are based on your credit history and range from 300 to 850.

“It’s a score that is going to determine how comfortable people are to lend you money,” McCreary said.

If your credit score is high, you can borrow more money. But if it’s low, you can borrow less or no money, or borrow money with a high interest rate, which can then create more debt.

Banks, landlords and insurance companies look at your credit score to determine the type of credit card that you can get approved for, whether you are the right fit for an apartment, and your insurance rate, among other things.

“Essentially, the bank will say ‘Hey, you don’t have a great credit score. Instead of a 2% interest rate, we’re going to give you a 3% interest rate,'” said Kristin Myers, editor-in-chief of The Balance, a personal finance website. “It might mean that you’re paying out more money over the lifetime of a loan every single month.”

HOW IS MY CREDIT SCORE CALCULATED?

While the idea of credit scores is simple, the way they’re determined is more complicated.

Credit scores can come from several credit reporting agencies. The three most used are Experian, Equifax and TransUnion. Each has its own model to calculate credit scores.

While we know generally what factors into credit scores, the agencies don’t share their specific formulas with the public. But each produces a slightly different score.

“One is scoring like a basketball game, one is like a football game and one is scoring like a hockey game,” said McCreary, who added that you shouldn’t worry if one agency gives you a few points less than others.

Since you don’t know which agency your lender is going to use to check your credit score, McCreary also recommends that you check all three of them before requesting a large amount of credit.

Here are the factors that are frequently used to calculate your credit score:

— Bill payment history

— Length of credit history

— Current unpaid debt

— How much of your available credit you’re using

— New credit requests

— If you have had debt sent to collection, foreclosure, or a bankruptcy

One thing that doesn’t affect your credit score is how much money you make, said McCreary. But you still need to take care to only borrow the amount you can afford to pay back.

Other aspects that don’t affect your credit score include your age, where you live and your demographic information such as race, ethnicity, and gender, according to Experian.

HOW DO I FIND OUT MY CREDIT SCORE FOR FREE?

There are several ways that you can check your credit score for free. A great place to start is to check if your bank offers this service for its customers. Additionally, each of the three credit reporting agencies allows you to check your credit score for free.

Everyone is entitled to one free credit report a year from the three agencies at annualcreditreport.com, according to the federal government.

Other companies such as NerdWallet, Credit Karma and WalletHub also offer this service for free.

WHAT IS A GOOD CREDIT SCORE?

You are considered to have a good credit score if it’s 670 or higher. If your credit score is over 750, you’re considered to have a great credit score, said McCreary.

“There is this sort of dream scenario of having an over 800 credit score, that is a very high credit score and very few people get there,” said McCreary.

“Fair” credit scores are considered to be in the 580-669 range, a credit score below 580 is considered a poor credit score.

HOW CAN I IMPROVE MY CREDIT SCORE?

The journey to improve your credit score is different for everyone. But some steps that can help you tackle credit card debt include paying at least the minimum monthly payment and, if you can, paying just a bit more over the minimum so you pay less interest over time.

Additionally, McCreary recommends that you try to keep a balance between your credit or loans and the amount you can afford to pay back.

You can read more experts’ recommendations on how to increase your credit score here.

DOES CHECKING MY CREDIT SCORE LOWER IT?

Checking your credit score does not lower it unless you are making a “ hard inquiry,” which is only done when requesting a line of credit.

Soft inquiries, where you want to know your credit score, do not affect your score and it’s a good habit to check your credit often to make sure it’s accurate.

On the other hand, lenders make hard inquiries when you apply for credit like a mortgage or a car loan, and those do show up on your credit report.

McCreary recommends not making several requests for credit at the same time since this could hurt your credit score. It’s best to know beforehand what your credit score is and then apply when you are confident that your loan will get approved.

HOW CAN I CREATE HEALTHY HABITS WITH MY CREDIT SCORE?

The first step is to check at least once a year to make sure you are comfortable with your current credit score.

If you are planning to request a large credit line, you want to check your score a few months prior and see how you can start improving it. If you are currently trying to increase your credit score, it’s recommended that you check it often to see if your actions are making a difference.

If you feel you need help from a professional to improve your credit score, a good place to start is the National Association of Personal Financial Advisors ‘ search engine for registered advisors. If you notice a mistake in your credit report, you can dispute it by contacting the respective credit reporting agencies.

Being aware of your credit score and maintaining healthy habits around it is crucial to having a good credit history. However, it is important for people to know that their financial worth shouldn’t be attached to their credit score, Myers said.

“It doesn’t mean that you’re a bad person or terrible with money and that you need to constantly beat yourself up,” she said.

Source: usnews.com ~ By: ADRIANA MORGA, Associated Press ~ Image: Canva Pro