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Cheryl Ginnings
Broker Associate

    CRS: Certified Residential Specialist
    GRI: Graduate REALTOR® Institute
    Certified New Home Specialist
    OAR Leadership 2005

Direct: (580) 591-6868



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Looking to Buy a House? Why You Need to Get Your Credit Report.

Wednesday, July 29th, 2009

So many times people want to start looking at houses and either know they have bad credit, or don’t want to know what is on their report.

So, why get your credit report?  First of all, what is on your report affects your credit and your ability to shop.  Shopping for a home is one of your greatest pleasures and greatest debt you will incur.  If you don’t know how much you are qualified for, you might look at homes and find one you feel just fits your dreams, but you can’t afford it.  All that time you and Realtors® wasted could be saved.  From the dream to reality is often a huge disappointment.

Second, some credit reports are just wrong.  There is misinformation on reports that was never discovered.  One of the first homes I sold almost did not happen because the credit report was wrong.  It turned out that this woman had charges from  places she never lived.  The name of the person was different.  It belonged to a man, and I was dealing with a woman.  Wow!  Wonder how that happened, don’t you!?  That information is on a report that had never been discovered.

What if you find out the report has wrong information?  Find someone who can legally do “credit repair.”  There are sources who can help you challenge something that is wrong.  If you have paid off something that is still showing as active and negative, it needs to be removed.  Many people call and get no answer from credit unions, then just give up.  That negative report continues to show for years and might not be true.

Negative reporting affects your ability to borrow.  You can sometimes qualify for a credit card or even an auto, but not be able to qualify for a house.  Get your report and make sure it is correct.  Check the name spelling, addresses where you have lived, and the charges that are on your report.  Keep it accurate.

If you need help, don’t ignore it!  Get help from someone who can truly help you move forward.  It will not happen without your proactive input. Save receipts to show something is paid.  If you have a dispute, you have proof.  The better your credit score, the better home you can buy.

Need more help?  Be wary of just any credit repair, make sure it is legitimate.  You could be worse off than before. Don’t ignore it because you have had problems in the past. Take care of getting your bills paid and get credit for what has been paid.  You can get forgiveness for mistakes.

Check out more ideas on servingLawtonOK.com and see if you can find a home you can afford.  It is your credit!  Take care of it.  Also be sure to check out HomesforourSoldiers.com


Are You Ready To Buy a Home?

Monday, May 18th, 2009

Have you ever noticed that some people just have a negative approach to everything in life? REALTORS® really see the best and worst in people. It is sometimes brought on by the news and messages that one chooses to listen to. Take the real estate market, for example.

Most of the news is negative about the housing industry. Foreclosures are on the rise. People loosing homes in every state, city and county in the nation. The economic news adds to the fear and concern that is looming at this time.

When a buyer gets ready to make an offer on a house, they are usually trying to get the best deal in town, but at the expense of the seller. If one stops to think how much the seller pays for the house, how much they have invested in the upkeep or redoing many things to make the house sellable, and factor in the seller’s closing cost that will be about 10-12% of the sales price, they are really suffering.

When a buyer makes a ridiculously low offer on a home, they are just trying to save money, make money or just get a bargain. Who could blame them? Many “specialists” are telling the world to get homes for “pennies on the dollars,” or at tax sales. What about the seller’s perspective? Most sellers are suffering miserably right now.

When you are ready to buy a home, it is in your best interest as a buyer, to get the most you can for the least amount of money. However, think for a moment that “you” are the seller and the tables are reversed. Be reasonable in making offers. Remember there is probably a family on the other side that is seeing their investments at a low price right now.

Our perspective is important in helping the housing market make a recovery. We all need to keep balance in the picture. If one can afford the house, go for it. Get the best deal you can. But think carefully before you make that offer and remember there is another perspective for the one selling. If they don’t jump at your low offer, it could possibly be that they do not have the cash to close on the house at that price.

The Indian proverb about walking a mile in another’s moccasin before jumping to conclusions about others can really make a difference in a sale. As a REALTOR® who tries to keep a perspective for both parties in a transaction, it is often sad to tell sellers what has been offered on their homes. It is a great time to buy a house with the low interest rates, with the stimulus package, and with all the incentives out there. Just remember for all involved, keep a good perspective on the situation, and if necessary, try a new perspective of the others involved.

Get a Credit Check First Before Buying a Home

Tuesday, April 28th, 2009

Many customers wonder what is the first step in finding a home. In fact, some resist the idea that they can’t just go look at all the Lawton houses they see and find one they like, make an offer and then find out if they are qualified for the loan.

Think of the heartache that customers feel when they find a Lawton house they absolutely fall in love with and then they find out they cannot afford the house. Realtors ® used to show houses like that. I used to show houses like that. What would happen? Often they were not qualified for the Lawton house they wanted. After they found out what they were qualified to buy, they were not satisfied with what their money could afford in any given market.

One of the reasons the country is having an economic downturn is the very fact that many homebuyers actually bought homes that were based on dream loans. Remember when someone could qualify for a home that was twice what they should have bought? Stated income loans, loans over the based on more than the value of the home, or 100% loans between the 80% and 20% combination loan programs. What a mistake!!

Many Realtors ® and lenders realize that some people simply cannot afford what they really want. They either to have too much debt already, or they have taste that are way above their pocketbooks. It is time for a reality check.

As for those in the industry who want to help people become responsible Lawton homeowners, let’s start at the beginning and evaluate what a family can truly afford and not be in danger of loosing their home if someone in the family becomes ill, or loses a job.

Families need to budget for the unexpected, because it happens to all of us sooner or later.

If you are in the market to purchase a Lawton home, find someone who will realistically tell you what you can afford without stretching too far. Get help in understanding what the market buys. It is different from the Midwest to the east or west coast. Money goes further where I live than where many buyers are coming from. It is my job as a Lawton Realtor® to help them see different homes in the same price range, and then help them decide what is best for their family.

Get a credit check first! Begin by knowing what is affordable and what is not. Keep dreams in the real world. Buy a Lawton home that you and your family can stay in and enjoy for years to come. That is where most people build equity, not in quick sales. Your home is to enjoy, not lose.

There has never been a better time to buy than now!

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