For years, both buyers and sellers have both been sitting on the fence. Buyers have been waiting for the market to bottom out, so they can purchase at the best price. Sellers have been waiting for prices to improve, so they can sell at a better price.
With the housing recovery underway, 2013 is shaping up to be the perfect time to resolve those concerns.
Buying or selling, here are some top-of-the list resolutions you should consider.
Resolutions for buyers
• Monitor your credit - Stop paying for a credit monitoring service and do-it-yourself. You get one free credit report from each of the big three credit reporting agencies - Experian, Equifax and TransUnion - as well as from any smaller credit reporting agency regulated by the Consumer Financial Protection Bureau.
If you begin in January getting a report from one agency, get the other two over the course of the year, ideally four months apart - January, May and September - effectively creating your own credit monitoring service - at no charge.
Your credit report is free, but you should also buy your credit score - a numerical rendition of your credit report.
Dayle Snyder with Snyder Group Luxury Real Estate in Las Vegas, NV, says look at your credit score from the lender's perspective. The least expensive loans are available at a score of 670 and above.
If you have blotches on your credit report, take action to correct mistakes, rectify late and missing payments and pay down bills, all to improve your score. It takes time to improve your score and fix credit issues, so don't procrastinate, especially if you plan to buy a home this year, says Snyder.
Landlords, employers, insurance companies and others also consider credit scores.
• Rent to own. Prices are rising and if you aren't quite ready to buy, better position yourself to buy by renting a home with an option to buy it.
Thomas Myers with Foreclosure.com says, "Think of it as home-ownership-in-training."
In a rent-to-own deal, you pay rent, but a portion of your monthly payment goes into a down payment to buy the home.
If you don't have pristine credit at the onset of the rent-to-own deal, you'll have time to get you and your credit standing ready for a purchase.
With some lease options, you can lock in at today's low prices for a purchase down the road, when price could be higher. You'll build equity while you wait to buy. Source Realty Times
For more information on buying or selling Denver homes, or for rent to own homes in Denver, call 303.990.9320 or visit the websites at www.MyDenverHomeAgent.com or www.RentToOwnDenverHomes.com.