Thanks For A Great Year

Here we are at the end of another year and what a great year it has been. At The Top Properties is a little over a year old now and has grown and blossomed. We have added 4 great agents and have increased our market share as well as having a prominent position right in the heart of Pearland at 3419 E Broadway Suite G.

In addition, At The Top Properties has also agreed to sponsor a softball team called "The Vamps" and our company logo is on all of their t-shirts. We are quite proud of the team and their recent victory in New Orleans.

In the coming year, we are excited about the prospect of gaining more market exposure with increased advertising as well as adding 1-2 more agents. I feel it is important to keep our company small so we have that familial feel as we all work towards a common goal. If you are considering changing direction in your career and would like to speak with us about joining our family, contact me anytime. We offer full Broker support, Efax, wi-fi as well as providing signs and business cards.

Finally, I would like to thank the great folks of Pearland for their support and we look forward to helping you with all of your real estate needs in the coming year.

Sincerely,

Mike Gonzales

mytopagent.org

Buyer Update

With the changing economy some banks are also changing their lending practices. Once upon a time, even if you had a FICO score of 600, you could easily qualify for a loan. Recently, many banks have raised their minimum scores to a 640, which has removed the possibility of homeownership for some. Now, due to higher foreclosure rates, most banks require the buyer at have at least a 620 score.

Unfortunately, with many folks finding themselves with less available cash than before, many aren't able to keep up with their minimum monthly payments on their loans, and even one late payment can bring your score down considerably. It is a good idea to check your score at least twice a year. If you can afford it, an even better idea would be to subscribe to a credit monitoring company so you get updates on your score regularly. If you find yourself unable to make your payments, speak with your lender to see if you qualify for an extension of your payments. Always try to be proactive if you are behind and try to make the payment by the agreed-to date. Too many folks ignore the creditor out of embarrassment rather than call and try to resolve the issue up front.

If you find that your score is below a 620, don't give up. There are some reputable credit repair agencies out there. Keep in mind however, that no one can remove a valid debt from your report. The credit repair guys can help you remove old debt and advise you of how to clear up any inconsistencies on your report.

If you will be looking for a new home in the next few months, it would be a good idea to hold off on any big purchases until after your close on your new home. Lenders look very carefully at how much available credit the buyer has and if they have been seeking credit lately. In addition, once you have applied for a loan and have been approved, the lender will typically run a second report on you before closing. This can get a buyer into trouble if they have increased their debt between loan approval and closing.

If you haven't been pre-approved for a mortgage, this should be your first step. You need to know the amount you qualify for and how much your payment will be. This will help put you in the right direction when looking for a home. If you have questions about the home buying (or selling process), call or email me, I will be happy to help. Good luck!

Regards,


Mike Gonzales