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 |  | What's the Score? |  | | | Making the Market Work | | | | Work It |
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I am pleased to present you with the latest issue of Life@Home. Delivered to home buyers, sellers and owners on a monthly basis, this electronic newsletter is designed to give you the real estate information that is important to you. In each issue, you will find practical tips and articles related to buying, selling or owning a home, as well as the latest news on real estate trends. I hope that you enjoy this issue of Life@Home. If I can be of any assistance, please do not hesitate to contact me. |
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| What’s the Score?
 Banks and lenders want to loan money to people who have the ability to pay back the debt. That’s why they will look closely at your credit score or FICO score during the application process. The score is a number, generally between 300 and 850, that indicates how much risk is involved in lending you the money. It is determined using a statistical model and is based on your credit history. The higher your FICO score, the better.
So now you may be wondering, what causes someone to earn a low FICO number? Here are five things that can adversely effect your rating.
1. Late Payments – Failure to pay your bills on time can drag down your score. This includes credit cards, utilities, school loans and other debts. The later the payment the more damaging the effect. It is also important to note that late payments stay on your credit history for a period of seven years.
2. Maxed Out – If you are carrying a lot of debt or are close to your credit limit on several accounts, you could be seen as high risk. In other words, the lender sees you as someone who is spread too thin and may not be able to make future payments.
3. No Track Record – Lenders also look at the length of your credit history. If you’ve only had accounts open for a short period of time that could hurt you. Lenders want customers with a proven track record, where history shows they are able to pay back debts over a significant period of time.
4. Not Diversified – One credit card, also called a revolving account, used consistently and paid on time may not be enough for some lenders. A good mix of credit, like car loans, other mortgages, school loans in addition to revolving credit is viewed more favorably.
5.Too Much? – If you’ve opened several new accounts recently, it may raise a red flag. Your score will factor in the number of new accounts versus more established ones.
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| | | | Making the Market Work
 Real estate can be one of the best ways to put your money to work. Historically speaking, real estate investors who do it right have seen steady returns. If you are considering buying as a business enterprise, consider these four points.
1. Do your homework –Know your finances inside and out before you buy. Although you may be able to count on rent to defer some of your costs, be sure to factor in renovations, emergency repairs, vacancies, recurring costs and other expenses.
2. Know your strategy – Is your plan to buy a home, renovate then sell it for a profit? Do you plan to hold onto the property for the long term? Come up with a specific plan with benchmarks that will help you determine if you are meeting your goal.
3. Location – Whether you are buying residential, commercial or vacation property, pay special attention to location. It is often better to purchase a mediocre property that can be renovated in a prime location than to buy in a less desirable area.
4. Know the tax implications – There are definite tax benefits to owning a second property, but there are also repercussions when it comes time to sell. Capital gains tax must be paid on profits from a real estate sale. If you plan to use the proceeds to buy again, look into a 1031 tax deferred exchange. This provision allows you to defer capital gains and roll-over the funds into other real estate investments.
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Work It
 Is your office or work station a distracting mess? Improve the situation by dedicating 10 minutes each day to organizing your desk. Also, take time daily to manage your inbox. Delete emails you don’t need and create a folder system for action items. Twenty minutes of maintenance can make a difference. |
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Family Ranch for Generations
• lot / land
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SALE PENDING
$3,606,050
- 1030 Hill Country Acres
Llano, Llano County
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This ranch extends up the side of Cedar Mountain and then to the west crossing Legion Creek. Excellent wildlife habitat. Elevation changes of over 600'! Two nice stock tanks, some granite outcroppings and a nice small hunting cabin. This is a special offering that has been in the same family for many generations
Property information
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Acreage with cabin
• ranch
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$347,000
- 86 Acres Bullhead Creek
This property has great sandy loam soils and could be placed in improved grasses. Gently rolling terrain with one stock tank. There is a nice building site surrounded by majestic live oak trees. This property borders Bullhead Creek, has county road frontage, and a small cabin. Electricity is in place and there is one well.
Property information
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Close to Lake Buchanan
• ranch
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$720,000
- Best View in Llano Co.
One of the highest mountains in the area,"Indian Lookout Mountain", Views, rough, remote, and private. Large ranches surrounding property. Minutes from Lake Buchanan. Fencing, unimproved. Great hunting! The views will take your breath of lake and mtns. GOOD WATER WELL $4,000 PER ACRE
Property information
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REDUCED
• 3,500 sq. ft., 3 bath, 2 bdrm ranch "Llano River Frontage"
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$699,000
- 66 Prime acres
Metal 2/3 home an RV port, garage, workshop and barn all under one roof on 66 beautiful hill country acres. 100 GPM well, oaks, good fencing, solar gate, and excellent hunting. Room, room, room! RVers dream!
Property information
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Boathouse/workshop
• 1,530 sq. ft., 2 bath, 3 bdrm manufactured home
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MLS®
$199,500
- 100' of Waterfront
Kingsland, Llano County
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3/2 Manufactured Home (1998) on 2 lots w/ 100' of Channel waterfront; Retaining Wall & Boat deck, Boathouse/workshop(lift has been removed) Split bedroom plan, large Master suite,Fireplace, Wood deck, many large trees, city water & sewer
Property information
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Great Views Waterfront
• 2,137 sq. ft., 4 bath, 3 bdrm 3 story
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MLS®
$399,900
- Two Boat Houses
Highland Haven, Burnet County
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Beautiful 3 bedroom, 4 bath waterfront home located in nice neighborhood on Lake LJB. Great views of lake from 2 upper decks, nice covered patio leading to two bathhouse with decks on top. Lots of extras. Two Living Areas, Loft, 2 upper decks, covered patio, two separate boathouses with decks on top, small yard to maintain.
Property information
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5.17 Acs
• 1,570 sq. ft., 1 bath, 3 bdrm single story
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$215,000
- Llano River Frontage
Spacious Home 3BR/ 1 and 1/2 Bath, metal roof, huge 4 carport, large covered patios. All fenced, garden area, shed, good well. Great riverfrontage, with plenty of room to expand.
Property information
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One Stall Boat House with Lift
• 1,297 sq. ft., 2 bath, 2 bdrm 2 story
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MLS®
$299,900
- Waterfront Lake LBJ
Sunrise Beach Village, Llano County
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Great weekend lakehouse nestled among trees on large lot in Sunrise Beach. Two living areas with rock fireplace in downstairs living plus a bonus room. Large air-conditioned storage building. Lake pump, boathouse, trees, storage building.
Property information
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