Top 3 Tips to Increase Your Credit Score!

By Caroline Abkar, REALTOR®, B.Sc.Eng.
5/29/2020

 

Why is it important to increase your credit score? A high credit score means a better interest rate when it comes to applying for a mortgage loan. And a better interest rate means you pay less every single month to own your home!

There are several factors that affect your credit score, but these top 3 tips are the ones that will increase your credit score most.

Tip #1 to increase your credit score: Pay your bills on time.

Tip #2 to increase your credit score: Keep your credit card balance and utilization ratio as low as possible.

Tip #3 to increase your credit score: Don’t apply for a new credit card if you will be applying for a loan in the near future.

Watch the video for all the details around these 3 tips.

As always, if you have any questions or need help buying or selling a house, please reach out!

~~~
🏡 Caroline Abkar, REALTOR®, B.Sc.Eng.
Your Trusted Realtor and Advisor For Life
Windermere Homes & Estates
DRE# 01998434
Cell: 619.808.4804
www.yoursandiegorealty.com

About the author: Caroline Abkar is an established San Diego Realtor and Bay Park resident who is absolutely passionate about the community as well as representing her clients in selling and acquiring the biggest investment of their lives. A former successful engineer & project manager, she is very detail-oriented and will go above and beyond for those who place their trust in her. You can contact her anytime at 619-808-4804.

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Posted on May 29, 2020 at 9:14 pm
Caroline Abkar | Category: Real Estate Tidbits | Tagged , , , , , , , , , , ,

Top 3 Things To Look For in a Realtor!

By Caroline Abkar, Realtor

5/12/2020

👩🏻‍💻👨‍💻👩🏽‍💻🧑🏿‍💻👨‍💻🎥 There is one thing you can do right now if a move is in your future, and that is leveraging video calls to interview and identify your dream team, including your Realtor & lender! In this video, I share the 3 very important things to look for in a Realtor!

 

About the author: Caroline Abkar is an established San Diego Realtor and Bay Park resident who is absolutely passionate about the community as well as representing her clients in selling and acquiring the biggest investment of their lives. She will go above and beyond for those who place their trust in her. You can contact her anytime at 619-808-4804.

 

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YouTube: My YouTube Channel
Facebook: My Facebook Business Page
Instagram: My Instagram Page

Posted on May 12, 2020 at 7:35 pm
Caroline Abkar | Category: Real Estate Tidbits | Tagged , , , , , , , , ,

Should You Remodel or Move?

By Caroline Abkar, Realtor | January 14th, 2020

Are you wondering if you should remodel your existing home or sell it and buy something new instead? I made this video to help you answer just whether you should remodel your home or move. It is chock full of all the information you need to consider when making this important decision.

 

There is so much that goes into the thought process of figuring out the right answer for you when it comes to remodeling vs moving. You need to first have all this data in hand with the help of your Realtor and lender:

  1. Remodel bid(s)
  2. Current loan balance on your home
  3. Fair market value of your home (appraisal or comps analysis from your realtor).
  4. How much savings you would put toward your remodel/new home
  5. What options do you have for a remodel loan including qualifying amounts (cash out refi, rehab loan, HELOC, etc)
  6. What you qualify for, for a new home.
  7. Net sheets if selling and buying.

Once you have all this information, you will need to determine what it would cost to buy a comparable home to your remodeled home in its future state. In other words, you are now going to figure out if you can get a turnkey home that you will love just as much as your remodeled home, without having to go thru the remodel, which for many people is an extremely stressful event.

 Here are a set of tips and questions to think about for this step:

  • Use your remodel specs (To-Be) as search criteria for a new home
  • Review list of homes for sale or have sold that meet that criteria
  • What is likelihood you will find a home like your To-be that is all done that you love?
  • Do you love your current location?
  • What is the after remodel value of your future home (ARV)? Don’t overbuild.
  • Where will you stay during remodel?
  • Impact on quality of life during remodel
  • Include a $ buffer for unknowns during remodel

 

Hopefully all this data crunching and analysis will give you a good idea of an apples to apples comparison in order to determine if you should remodel, or move!

Caroline

About the author: Caroline Abkar is an established San Diego Realtor and Bay Park resident who is absolutely passionate about the community as well as representing her clients in selling and acquiring the biggest investment of their lives. She will go above and beyond for those who place their trust in her. You can contact her anytime at 619-808-4804.

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Posted on January 14, 2020 at 9:40 pm
Caroline Abkar | Category: Real Estate Tidbits | Tagged , , , , , , , , , , , , , ,

Selling to an iBuyer ? Here’s What You Need To Know!

By Caroline Abkar, REALTOR | October 8th, 2019

 

 

You may have heard the news and seen their ads everywhere. What an iBuyer is, is a company that will offer to buy your property very quickly, all cash, with an online offer, sight unseen. Think Zillow Offers, Redfin Now, Offerpad, Opendoor. These are all iBuyers.

Now why do they do this? Why do iBuyers offer to buy your home sight unseen, all cash? Well, it’s because their model is based on providing you as a seller all the convenience, compared to the traditional models. That way, you can sell very quickly and they claim that it’s almost hassle-free. There is a risk with this model that they need to bear and account for. iBuyers are volume based companies, buying a lot of homes and they’re buying them all cash, but they’re also making their profit up front. They’re not making the profit when they resell the house later on with a markup. Making a profit up-front at the time they purchase the home means that for you as a seller will be netting much less for your home compared to the traditional model. Research shows that we’re talking up to 15% less.

So if you’re a seller who desperately needs the cash, you’re moving out of state, out of country, you absolutely need to move and you cannot wait the 30-45 days or however long it may take on the open market, then you may really be considering an iBuyer’s offer. But again, you need to understand that that convenience absolutely comes at a cost. Take this example provided by Fidelity Title:

iBuyer vs Open market

iBuyer vs Open Market

 

What this shows is that the net difference between using a Realtor in a traditional open market model vs an iBuyer is $93,217 for a home that it worth $680,000. That is how much less you walk away with as a seller in exchange for a quick close. Therefore, it’s very important to understand the cost of that convenience and remember as well that if what you’re looking for is a quick all cash offer, a good established Realtor will have partnerships with local investors who will offer all cash and no contingencies for your home as well to make it hassle free. So don’t forget that option, and make sure that you’re doing your homework and you’re thinking of all the possible scenarios in order to make the best decision for yourself when the time comes to sell your home.

Caroline

About the author: Caroline Abkar is an established San Diego Realtor and Bay Park resident who is absolutely passionate about the community as well as representing her clients in selling and acquiring the biggest investment of their lives. She will go above and beyond for those who place their trust in her. You can contact her anytime at 619-808-4804.

Posted on October 9, 2019 at 4:08 am
Caroline Abkar | Category: Real Estate Tidbits | Tagged , , , , , , , , , , , , , , , , , ,