Lynchburg, VA Real Estate News

By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Credit reports – know my rights Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by credit bureaus. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your income, debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy. The Fair Credit Reporting Act (FCRA) is designed to help ensure that credit bureaus furnish correct and complete information to businesses to use when evaluating your application. Your rights under the Fair Credit Reporting Act: You have the right to receive a copy of your credit report. The copy of your repor...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
How my FICO Score is calculated The FICO® Score is calculated from several different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how your FICO Score is calculated. Your FICO Score considers both positive and negative information in your credit report. Late payments will lower your FICO Score, but establishing or re-establishing a good track record of making payments on time will raise your score. How a FICO Score breaks down These percentages are based on the importance of the five categories for the general population. For particular groups—for example, people who have not been using credit long—the relative importance of these catego...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
If someone has bad credit and wishes to repair his credit report, the first thing he should do is pay some credit cards down a bit. Doing this shows creditors and lenders that he can be responsible with his accounts, encouraging them to take a chance on him so he can repair his credit score. If he can get his balances below 30% of his limit, that’s good; if he can get them 10% below, that’s better. Do you want to Raise your FICO score? Lexington Law Firm is here to share some information about credit repair services, such as: - Pay Down Credit Cards- Use Charge Cards Gently- Obtain an Installment Loan- Dispute Incorrect Credit Report Items Reduce Credit Card Balances Lightly Handle Charge Cards Be careful, when trying to repair a bad credit history, to avoid holding large balances on t...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
 The world of e-marketing continues to be the most effective and least expensive method of marketing. This is particularly true with real estate agents who have the formidable task of staying in touch with clients and prospects for long periods of time. While agents have a wide choice of platforms to choose from, including commercially available products and proprietary platforms provided by their own agencies, few of these provide any professional content, instead relying upon the time pressed real estate agent to create their own content as well as manage their own mailing lists and delivery schedule. A system that "touches" agents' contacts twice per month with outstanding professionally written articles containing compelling content is the basic strategy of the HomeActions platform...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
< p styl Millions of Americans are now dealing with diminished credit scores that they are trying to correct as quickly as possible, even if doing so isn't always easy. However, one important aspect of this process that many may not consider is just how they'll know when they've done all they have to in an effort to regain a good credit score. Many borrowers who are serious about getting their credit standings returned to normal may take a number of steps to do so, but it's also important that they know when their efforts have reached the point where they cannot be any more effective. While there are a number of ongoing factors that can be vital to maintaining a strong credit standing, other areas only require a finite amount of careful attention. One aspect that's most important to cre...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
The idea of "credit" has become a modern-day Medusa. We have a tangle ofcredit scores, reports and scoring formulas.   We're afraid to look. Only 5 out of every 100 of us pull our credit reports, even though it doesn't cost us a cent. No wonder sizable numbers of consumers got it wrong in a survey on credit scores released last week by the Consumer Federation of America. Roughly 40 percent didn't know their credit scores could affect the price they paid for credit cards or mortgages. A quarter didn't know that if they applied for multiple credit cards in a short period of time, their scores would drop. Stephen Brobeck, the CFA's executive director, made the point in releasing the results that what consumers don't know about credit can hurt them. "Low credit scores will often cost car b...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
    Tips for buying your first house or condo . When searching to purchase your first home, it’s difficult to know what you really should be looking for. First time homeowners have an abundance of questions that they need to have answered before they can take the leap into the real estate purchasing pool. Here are some tips for making that leap easier. Be patient The first, and maybe the most important tip, is to be patient. Buying a home is not something a first time homebuyer should rush into. You want to ensure that the home has all of your requirements and amenities that you desire. You are going to see a large amount of different homes, some in which you will love but are out of your budget, and some that you just could not stand to see yourself living in. A home is a huge investm...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Great news for the economy and real estate is that home builders are gaining confidence in current and future market conditions for new homes. Sadly, they are also seeing below-average foot traffic in new homes. Which might be due to the bargain prices that are available for existing homes. And I am not just talking about foreclosures! The May 2013 National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) increased by three points to 44 compared to 41 back in April 2013. The HMI measures builder confidence in current sales conditions for newly built homes, buyer foot traffic in new homes and builder expectations for future sales conditions. Builder Confidence In Future New Home Sales Highest Since February 2007 The HMI reading for current sales conditions for...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
WASHINGTON, DC--(Marketwired - May 16, 2013) - Realtors® who specialize in commercial real estate expressed optimism and confidence in the market during a forum at the Realtors® Midyear Legislative Meetings & Trade Expo. Despite a slow turning economy, commercial practitioners believe the market is not only better off than it was a year ago, but also will continue to improve.  National Association of Realtors® chief economist Lawrence Yun joined several Realtor® commercial practitioners on a panel to discuss the economy and regulatory issues and their impact on the commercial real estate market. Through a live polling of the audience, a majority of members expressed that their local economy is either a little better or showing a major improvement from a year ago. "Right now we are exper...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
It sounds like something dreamed up for “The Jetsons” — flying vehicles flitting through the skies, transporting everything from medical devices to Chinese food, no pilot required. But in two years, New Jerseyans may see these airborne robots soaring above them on the Turnpike, a cause of concern for some and a source of wonder for others. Drones, or unmanned aerial vehicles, have been used by the United Statesmilitary for years to hunt down suspected terrorists in Afghanistan and Pakistan, so much so that their use in warfare has prompted a fierce debate in Congress. They come in all shapes and sizes: Some can fire deadly missiles from far above the clouds; others are low-flying spy planes equipped with cameras and heat sensors. They can be controlled half a world away, like a video ga...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
WASHINGTON, DC--(Marketwired - May 13, 2013) - Realtors® from across the nation will be meeting with regulators, lawmakers and industry leaders in Washington this week to address critical real estate issues affecting individuals, communities, and the nation as the Realtors® Midyear Legislative Meetings & Trade Expo begins. More than 9,000 Realtors® and guests are expected to attend the meetings, which will run here through May 18. "Realtors® are leading advocates for homeownership and private property rights, and want to ensure that their point-of-view on important housing and investment issues is heard at all levels of government," said National Association of Realtors® President Gary Thomas, broker-owner of Evergreen Realty, in Villa Park, Calif. "Coming to Washington this week gives...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
NAR Member Survey Shows Realtor® Business and Income Continue to Improve SOURCE: National Association of Realtors     May 13, 2013 10:23 ET WASHINGTON, DC--(Marketwired - May 13, 2013) - The business activity and income of Realtors® are up for the second year in a row following nine years of decline, according to the 2013 National Association of Realtors®Member Profile.  The study's results are representative of the nation's Realtors®; Realtors®are members of NAR and account for about half of the approximately 2 million active real estate licensees in the U.S.* Many non-member licensees are inactive or part time. Realtors® go beyond state licensing requirements by subscribing to NAR's Code of Ethics and Standards of Practice and committing to continuing education. NAR members also have...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Commercial Real Estate Investment Firm Bentley Forbes Looks Ahead to a Promising Future LOS ANGELES, CA--(Marketwired - May 14, 2013) - In many ways, the U.S. economy is still very much in the recovery phase, following years of tumult and unrest -- but according to the California-based, nationally-focused real estate investment and development firm Bentley Forbes, things are starting to look up for the commercial real estate sector. The company is hardly alone in thinking so; in fact, to illustrate its point, Bentley Forbes points to a recent article from the San Antonio Business Journal, which suggests that, despite "a sluggish economy and looming legislative and regulatory issues," the country's foremost real estate brokers still anticipate positive trends in the commercial sector. B...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
What It Takes to be Number One "Winning is not a sometime thing; it's an all the time thing. You don't win once in a while; you don't do things right once in a while; you do them right all of the time. Winning is a habit. Unfortunately, so is losing.There is no room for second place. There is only one place in my game, and that's first place. I have finished second twice in my time at Green Bay, and I don't ever want to finish second again. There is a second place bowl game, but it is a game for losers played by losers. It is and always has been an American zeal to be first in anything we do, and to win, and to win, and to win.Every time a football player goes to ply his trade he's got to play from the ground up - from the soles of his feet right up to his head. Every inch of him has t...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
WASHINGTON--(BUSINESS WIRE)--As the spring home buying season begins, the American Land Title Association (ALTA) reminds consumers of the importance of title insurance when purchasing real estate and protecting their rights to property. “For most Americans, our home is the single largest financial investment we make” "For most Americans, our home is the single largest financial investment we make,” said ALTA president, Frank Pellegrini. “More importantly, it’s where we raise our families, share time with friends and live our lives. Whileownership of our home may seem very straightforward, our rights to enjoy our property aren’t always as clear.” Homeowners can purchase, for a one-time fee, an owner’s title insurancepolicy, which insures that consumers are protected in the case of known...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
5 Ways You May Need to Change Your Real Estate Mindset When I first started thinking about becoming a real estate investor, I knew I would have to learn many new things.  Over the years as I learned, practiced and became successful something unexpected happened – I noticed my mindset was changing.  I began to think about and see the world in ways I had not before. My background was typical I think.  I went to school.  I went to college, got advanced degrees.  I rose to the top of my profession in local government.  I thought I had learned and knew a lot.  Real estate investing however opened my eyes to how much I did not know and had not learned in all that time. Here are five mindset changes: Risk is bad / Risk is good – Having gone to school and worked for the government for most of ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
If the housing market continues at its current rate of appreciation — a combination of strong demand from buyers and dwindling supply of homes for sale — prices could be back to their boom-time peak within seven years, according to a new analysis of data by the Herald-Tribune. But market watchers are split about whether the volatile market — now driven by baby boomers and institutional investors snapping up foreclosures — can sustain its current trajectory. "Prices are definitely going up everywhere right now," said Shannon Moore, broker and owner of Green Lion Realty in North Port, who represents foreclosure investors. "I see that continuing for at least the next three years."   This rise in values has been fanned by sales that in February rose to a pace of 983 existing single-family ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Remember 2007 and 2008 when housing prices were soaring upward in double-digit increases. Well, that is not happening now, though our local real estate market is experiencing a slow steady gain based on a variety of indicators.One indicator of local real estate market confidence is the number of sales, which increased in the first quarter of this year compared to last by 3.6% — up to 721 in 2013 from 696 in 2012. An additional piece of good news to add is that the number of foreclosure sales dropped to 180 from the 2012 number of 230, a decrease of 22% in foreclosed properties sold.Another sign of market improvement is that the dollar value of all the first quarter real estate sold in 2013 compared to first quarter 2012 increased by 11% — about $145 million compared to $133 million.Whil...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
11 common property investment finance mistakes to avoid – Part 1 Navigating the rocky seas of property investment finance can be a challenging task for home buyers and investors. And it’s made even more difficult by all of the misconceptions about home loans that are out in the ether. If you get your property investment financing wrong, it can cost you thousands, sometimes tens of thousands of dollars over the life of your loan. Get it right though and the benefits can be enormous, including saving thousands on interest repayments and excessive fees and charges. For real estate investors, structuring your finance correctly is even more critical as it can mean the difference between building a lucrative, wealth generating property portfolio and never progressing beyond the first one or ...
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By Christopher Shearer, MBA, “San Diego Mortgage Man”
(Mortgage Solutions FCS )
Opinion split on where rising real estate prices will take us By JOSH SALMAN Sarasota Herald-TribuneApril 21, 2013, 8:57:53 PM EDT Published: Sunday, April 21, 2013 at 4:28 p.m. Last Modified: Sunday, April 21, 2013 at 4:28 p.m. If the housing market continues at its current rate of appreciation — a combination of strong demand from buyers and dwindling supply of homes for sale — prices could be back to their boom-time peak within seven years, according to a new analysis of data by the Herald-Tribune. But market watchers are split about whether the volatile market — now driven by baby boomers and institutional investors snapping up foreclosures — can sustain its current trajectory. "Prices are definitely going up everywhere right now," said Shannon Moore, broker and owner of Green Lion...
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