Park Ridge TodayPark Ridge Illinois Real Estate and More

Much like the Google Algorithms, how FICO scores are calculated has been a closely guarded secret.  Also like the Google Algorithms, some things are known to help or hurt a score. So how does FICO come up with your credit score?  Here are 5 main criteria used to calculate your score.

1. Payment History: 35 Percent of the Total Credit Score
2. Debt Amounts — 30 Percent
3. Length of Credit History — 15 Percent
4. New Credit – 10 Percent
5. Credit Mix – 10 Percent

For the entire article, please click here.

Information provided by creditcards.com

I hope everyone had a nice Easter holiday.  April is a busy month and usually, the start of increased home buying and listings.  With the tax credit expiring this month, expect a flurry of transactions that will drive numbers up for the year.  REALTORS are certainly hoping that the tax credit will be extended after the month expires as it has done some very good things for the lagging market.

It has to be Spring because we are going to crack 70 degrees this week – The Cubs and Sox start their seasons in the next couple days and real estate activity is starting to pick up again.  The weather really does have an impact on Real Estate, certainly in our part of the country.  The National Association of REALTORS issued their latest report stating that the weather had impacted showings last month.  Flip that to our recent weather and things are looking better for Real Estate. 

We haven’t heard much about extending the tax credit yet, but there will be a flurry of activity this month to try and meet the 4/30 deadline.  Here’s to Spring!!!

After checking the weather reports, I’m so happy to see that we are headed for at least 10 days of weather over 40 degrees! This has been a long, hard, snowy winter and I think we are all happy to see the sun again. Good weather seems to affect people and soon we’ll start to see people walking around, washing their cars, and even grilling (probably this weekend).

Then, of course, comes the Real Estate season.  Spring and early summer are the busiest times for most REALTORS.  I’m hopeful the tax credit will be extended again, but we never know for sure. On top of that – Mortgage companies are talking about a future FED increase.  I’m expecting a lot more activity in the next 6-8 weeks and then even more after that.

For now, let’s enjoy a sunny, somewhat warm weekend.

I just saw this today and thought I would pass it on from Market Watch:  What buyers look for today in a new home.

1. Large Kitchens, With an Island – The Kitchen is still King!

2. Energy-Efficient Appliances, High-Efficiency Insulation and High Window Efficiency – Not to mention, tax credits and resale value

3. Home Office/Study – More and more people are working from home or trying to make that switch

4. Main-Floor Master Suite – Not sure about this one

5. Outdoor Living Room - BRR – They even said in Canada – but here in Park Ridge, they’re great for spring/summer

6. Ceiling Fans - Easily installed by professional if you want one

7. Master Suite Soaker Tubs – Next to the kitchen, bathrooms make big impressions

8. Stone and Brick Exteriors – Always a nice feature

9. Community Landscaping, With Walking Paths and Playgrounds – We all want something that connects the neighborhood

10. Two-Car Garages – At least