Western Massachusetts Real Estate and Community News

March 22, 2019

COMING SOON!- 95 Powell Avenue, Springfield, MA

🌟COMING SOON!🌟 An Absolute Gem! Welcome home to this lovely 3 bedroom Cape! A true beauty. Do not wait to see this home!! 

Call Kathleen Brenner today for more details and to make this one yours! 📞 (413)433-0290

#ComingSoon #NewListing #Wilbraham#TheATeam #SellingHomesLikeABoss#BrendaCuocoAndAssociates

Get a free home value estimate today! 
https://www.wmasshomebuyer.com/cma/property-valuation/
March 22, 2019

SOLD- 62 Wales Road, Monson, MA

So excited to announce this Lovely Home is SOLD! And a Big Congratulations to Shannon for her first transaction with our team! 🎉 Are you or anyone you know looking to Buy or Sell? We have the expertise to get your home SEEN & SOLD!💥 Call Shannon today! (413)519-3928🗝

#Sold #Monson #BrendaCuocoAndAssociates#TheATeam #SellingHomesLikeABoss

Get a free home value estimate today! 
https://www.wmasshomebuyer.com/cma/property-valuation/

March 20, 2019

BCA- LOCAL & NATIONAL AWARDS WINNER

Thank you to everyone who helped us succeed in becoming 🌟NATIONAL & LOCAL🌟 Award Winners for 2018. With over 100 homes SOLD we're we still able to still manage obtaining our Customer Service Award of 98% customer satisfaction and we are more than thrilled with just that. 

Out of thousands of Agents Nationwide we were named #2 in homes sold and #11 in Gross Commission Income. We were also recognized for the 2018 Team of the Year Award for Real Living Realty Professionals franchise and also the Wilbraham Office Team of the Year, along with many other awards.

In total we brought home NINE local & National Awards 🏆🎉 and we are humbled by this and ever so grateful to all of our past clients, present clients, raving fans, cheerleaders, friends, family, our team leaders for the unwavering support we've received 🙌

If you know anyone looking to BUY OR SELL, we'd ❤️ your referrals. We have the strong expertise, market knowledge, marketing power and a full concierge staff that works hard for all of our clients. Pass our name along and let them know you referred us!! And if your reading this and thinking about selling or buying, call us today.. We have the RESULTS you need to sell or buy your largest investment!!! BOOM! 🏡 413-333-7776

 

March 20, 2019

WANT TO INCREASE YOUR FAMILY’S WEALTH? HERE’S HOW!?

 

WANT TO INCREASE YOUR FAMILY’S WEALTH? HERE’S HOW!

Want To Increase Your Family’s Wealth? Here’s How!

Everyone should realize that unless you are living somewhere rent-free, you are paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth.

Every month that you pay your mortgage, you are paying off a portion of the debt that you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equityAs your home’s value increases, you also gain home equity.

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists. They are asked to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

The latest data from their Q1 2019 Survey revealed that home prices are expected to round out the year 4.3% higher than they were in January. For the next 5 years, home values will appreciate by an average of 3.21% a year.

This is great news for homeowners!

For example, let’s assume a young couple purchased and closed on a $250,000 home in January of this year. Simply through their home appreciating in value, those homeowners can build their home equity by over $40,000 over the next five years.

Want To Increase Your Family’s Wealth? Here’s How! | Keeping Current Matters

Let’s look at the potential equity gained over the same period of time at some higher price points:

Want To Increase Your Family’s Wealth? Here’s How! | Keeping Current Matters

In many cases, home equity is a large portion of a family’s overall net worth.

Bottom Line

Whether it’s your first or your fifth, if your plan for this year includes buying a home, meet with a local real estate professional who can help you understand where prices are headed in your area.

 

Contact Brenda Cuoco & Associates today! (413)333-7776

 

 

source: https://www.keepingcurrentmatters.com/2019/03/18/want-to-increase-your-familys-wealth-heres-how/

March 19, 2019

NEW LISTING- OPEN HOUSE- 1076 Stony Hill Rd., Wilbraham, MA- 3/23, 12-1:30pm

Be Nimble, Be Quick! Jump into this adorable four bedroom cape. This home is ready and waiting for you! 

Join Danielle Barton at the Open House this Saturday, March 23rd from 12-1:30pm and make this one yours! Call Danielle for more details at (413)320-6829

March 19, 2019

NEW LISTING- OPEN HOUSE- 27 Porter Lake Dr., Longmeadow- 3/24- 1-2:30pm

🗝️NEW LISTING 🌟OPEN HOUSE: 3/24 1-2:30pm 🌟

A Fabulous value awaits you! This Sun-Drenched Cape home offers an open floor plan concept highlighting a fantastic remodeled kitchen! 

Join Maria LoPriore at the Open House this Sunday, March 24th from 1-2:30pm and make this one yours! Call Maria for more details at (413)218-2358

March 19, 2019

WHAT CREDIT SCORE DO YOU NEED TO BUY A HOUSE??

WHAT CREDIT SCORE DO YOU NEED TO BUY A HOUSE?

What Credit Score Do You Need To Buy A House?

There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed!

Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:

  • 16% Very Poor (300-579)
  • 18% Fair (580-669)
  • 21% Good (670-739)
  • 25% Very Good (740-799)
  • 20% Exceptional (800-850)

Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said,

Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low FICO® scores,”

There are many programs available with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a minimum FICO® score of 580 if you want to qualify for the low down payment advantage. The US Department of Agriculture (USDA) does not set a minimum credit score requirement, but most lenders require a score of at least 640Veterans Affairs (VA) loans have no credit score requirement.

As you can see, none of them are above 700!

It is true that the average FICO® score for all closed loans in January was 726, but there are plenty of people taking advantage of the low credit score requirements. Here is the average FICO® Score of closed FHA Loans since April 2012 according to Ellie Mae:What Credit Score Do You Need To Buy A House? | Keeping Current MattersAs you can see, that number has been dropping for the last seven years. As a matter of fact, the average FHA Purchase FICO® Score reported in January 2019 was 675!

One of the challenges is that Americans are unsure about their credit score. They just assume that it is too low to qualify and do not double check. Credit.com confirmed that only 57% of individuals sought out their credit score at least once last year.

FICO® reported,

Since October 2009, the average year-over-year FICO® Score has steadily and consistently increased, from a low of 686 in 2009 to the latest high of 704 as of 2018.”

Here is the increase in the average US FICO® Score over the same period of time as the graph earlier.What Credit Score Do You Need To Buy A House? | Keeping Current Matters

Bottom Line

At least 84% of Americans have a score that would allow them to buy a house. If you are unsure what your score is or would like to improve your score in order to become a homeowner, sit down with a real estate professional that can help you to set a path to reach your dream!

 

Contact Brenda Cuoco & Associates today with any questions you have! (413)333-7776

 

source: http://www.keepingcurrentmatters.com/2019/03/19/what-credit-score-do-you-need-to-buy-a-house/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost 

March 16, 2019

ACCEPTED OFFER!- 95 Rondeau St., Palmer, MA

Danielle did it AGAIN! So excited to announce this Lovely Home has an Accepted Offer! Are you or anyone you know looking to Buy or Sell? We have the expertise to get your home SEEN & SOLD!💥Call Danielle today! (413)320-6829🗝

#AcceptedOffer #Palmer#BrendaCuocoAndAssociates #TheATeam#SellingHomesLikeABoss

Get a free home value estimate today! 
https://www.wmasshomebuyer.com/cma/property-valuation/

March 15, 2019

COMING SOON!- 1076 Stonyhill Rd., Wilbraham, MA

🌟COMING SOON!🌟
 
Be Nimble, Be Quick! Jump into this adorable four bedroom cape. This home is ready and waiting for you!
 
Call Danielle Barton today for more details and to make this one yours! 📞 (413)320-6829
 
#ComingSoon #NewListing #Wilbraham #TheATeam #SellingHomesLikeABoss #BrendaCuocoAndAssociates
 
Get a free home value estimate today!
https://www.wmasshomebuyer.com/cma/property-valuation/
March 15, 2019

7 THINGS TO AVOID AFTER APPLYING FOR A MORTGAGE?

7 THINGS TO AVOID AFTER APPLYING FOR A MORTGAGE

7 Things To Avoid After Applying for a Mortgage!

Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.

Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious, but some may not!

1. Don’t change jobs or the way you are paid at your job! Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.

2. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

3. Don’t make any large purchases like a new car or new furniture for your new home.New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher debt to income ratios… higher ratios make for riskier loans… and sometimes qualified borrowers no longer qualify.

4. Don’t co-sign other loans for anyone. When you co-sign, you are obligated. As we mentioned, with that obligation comes higher ratios as well. Even if you swear you will not be the one making the payments, your lender will have to count the payment against you.

5. Don’t change bank accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is consistency among your accounts. Before you even transfer money between accounts, talk to your loan officer.

6. Don’t apply for new credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.

7. Don’t close any credit accounts. Many clients have erroneously believed that having less available credit makes them less risky and more likely to be approved. Wrong. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both those determinants of your score.

Bottom Line

Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. They are there to guide you through the process.

Contact Brenda Cuoco & Associates today for your real estate needs! (413)333-7776

 

source: http://www.keepingcurrentmatters.com/2019/03/13/7-things-to-avoid-after-applying-for-a-mortgage/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost