Dickson Realty Truckee Tahoe Newsletter December 2014

Dickson Realty – December 2014 Newsletter

Truckee | North Lake Tahoe

News You Can Use

The Dickson Truckee Team11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s December 2014 Newsletter

One of the main factors that will determine your loan rate is your credit score. Established credit is required to get a loan. If you have no credit score from lack of established credit, a lender will not give you a loan. If your score is low, your rate is affected negatively and it can cost you thousands and thousands of dollars over the life of a 30 year mortgage. If your score is below 600 or if you have had major as a previous foreclosure or short sale, a lender may not give you a loan. It is important to know if you have good credit scores prior to going house shopping or trying to refinance your loan.

Below are some steps to establish credit and keep your credit scores high.

If you want to buy a home, it is important to make sure you establish credit. If it is the first time you are establishing any credit we suggest going to your bank and getting a secure credit card such as MasterCard or Visa. The bank may have you secure the card with cash if they are concerned about your ability to repay. Lenders are usually looking for 2-4 credit lines (aka trade lines) minimum from well-known lenders (such as MC, Visa, American Express or large department stores) on your credit report. They want to see you have used credit and used it wisely prior to giving you a loan.

How do they tell if you are using it wisely? Lenders look at a client’s credit score to determine rate. If you have used credit wisely and for a long time your credit scores will reflect that with high scores. The best rates are provided to those with scores of 740 or higher. Lower credit affects the rate negatively. If a 740 score would get you a 4% rate, then a 700 score may be .25% higher in rate, 680 score may offer .50% higher, and a 600 score may worsen your rate by a full percentage point. Below 600, a lender most likely will not offer you a loan at all. If you had a foreclosure or short sale, guidelines change often so you want to check with your lender to see if it is possible to get a loan given the time frame from the event.

Good Credit – and how to get it



Two best practices to show the lender that you are using credit wisely include showing a long term history of good credit, and keeping your current balances below 30% of the high balance limits.

Establishing newer credit, such as when you go to a department store and they offer to start credit for you to give you 10% off can affect your score negatively. It’s a new credit line and there is no history of established payments. Having a card for 2 years or more is a positive. The next step is using it wisely. Use those cards to show that you know how to use but keep the balances below 30% of the high balance limit. If your limit is 10,000 then don’t carry a balance of over $3,000.

As a lender we are always happy to help our client’s see what their credit scores are prior to them getting into contract on a house or in our annual reviews. We offer a complimentary report for our client’s. This allows us to help with any minor changes needed to assist in getting the best rates. If you have any questions on a home purchase or refinancing please give us a call. It’s important to keep in mind that you have to have established credit to get a loan. If you have no credit score you can’t get a loan.

If you want a complementary analysis on your specific situation please call the Rice Conway Mortgage Team at 530-582-9992 or email us at [email protected]



Life doesn’t stop simply because you are on the move. Mobile devices have grown in to a main source of real estate information for consumers.

Dickson now has a mobile app to aid in your search!



Dickson Realty can now go everywhere you go! Our GPS enabled mobile app is fast, powerful, and easy to use. Your agent’s contact information, favorite listings, market data and more are always just a tap away on your iPhone, iPad or Android phone or tablet.

Search active, sold and open house listings via criteria, maps or your current location, quickly save favorite properties and compare them using real time charts, and share properties via Facebook, Twitter, email, and text.

The App includes• Map search including current location (GPS Required)• Search active and open houses• Search for offices and agents by name• Search by address, property type, price and more• Mark and save favorite properties• Share properties via Facebook, Twitter, e-mail and text• Search by map using our Polygon mapping tool• Contact us with a touch of a button• View full property details and full-screen color photos• Anything you save on your mobile device will automatically sync when you log into your account on your computer too!• And so much more…

Download it today via your App store!

DICKSON ON THE GO!



December 2Farm to School Fundraising FeastFireside Pizza Company, 1985 Squaw Valley Road5-8pm, $10 donationTahoe Food Hub's Farm to School fund buys fruits and vegetables from small, local farms for school meals. Your donation will provide farm fresh ingredients to grow happy, healthy young minds!Information: www.tahoefoodhub.org

December 450/50’s 2014 Eclipse Release Party50/50 Brewery, 11197 Brockway RoadEnjoy tastings of 2014 and previous years' Eclipse, plus other 5050 barrel-aging projects, commemorative bottle of Eclipse, gourmet cheeses, artisan breads, charcuterie and beer inspired appetizers. Information: www.fiftyfiftybrewing.com

http://www.tahoefoodhub.org/

http://www.fiftyfiftybrewing.com/



EVENTS

December 4, 11, and 18Noel NightsVillage at Northstar5-8pmEnjoy holiday activities both in the Village Center and within the retail stores throughout the Village. Offerings include sleigh rides, face painting, craft making, live music, ice skating and more. And make sure to come to get your annual holiday photo with Santa! Information: http://www.northstarcalifornia.com/events/event-detail.aspx?year=2014&month=12&eventview=calendarview&eventName=Noel-Nights

December 5First Fridays Historic Downtown Truckee5-8pm. Free.Most of downtown’s unique shops, boutiques, art studios, and eateries will keep their doors open later and offer special promotions, activities, demonstrations, food and beverages, music, and more! Participating shops and restaurants will display First Friday Flags so the public will know where the fun is.Information: www.historictruckee.com

http://www.northstarcalifornia.com/events/event-detail.aspx?year=2014&month=12&eventview=calendarview&eventName=Noel-Nights

http://www.historictruckee.com/



December 6Fourth Annual Sierra Handmade HolidaySierra College, 1101 College Trail11am-4pmThe fair has attracted over 400 people in past years and offers a great opportunity for holiday shoppers to purchase locally, handcrafted items. Information: www.sierracollege.edu

December 6Christmas at the Railroad Museum#5 Kidder Court, Nevada CityFreeEnjoy Santa and his elves, refreshments, raffle, silent auction and weather permitting, seeing our steam engine run and riding on the Railbus.Information: www.ncngrrmuseum.org

December 7Sierra Senior Services Pancake BreakfastSierra Senior Center, 10040 Estates Drive, Truckee8 to 11am, $7adults/$3 kidsA fundraiser for Sierra Senior ServicesInformation: www.sierraseniors.org

http://www.sierracollege.edu/

http://www.ncngrrmuseum.org/

http://www.sierraseniors.org/

December 7, 14, and 212014 Victorian ChristmasNevada City1:30-6pmEach year the town’s picturesque quaint, Gold downtown transforms into a genuine Christmas card come to life. It’s a magical setting of hilly streets outlined with twinkling white lights and authentic gas lamps, wandering minstrels and carolers dressed in Victorian attire, and a myriad of visitors sharing holiday cheer and good tidings.Information: www.nevadacitychamber.com

December 10 and 172014 Victorian ChristmasNevada City5-9pm

December 14Nevada City Winter Craft FairMiners Foundry Cultural Center 10am – 6pm, $3 for adults/children are freeAn independent, juried craft fair began in the summer of 2010 by a group of local young crafters, artists and social do-gooders who were inspired by the independent entrepreneurship and creative talents in their community.Information: www.minersfoundry.org

http://www.nevadacitychamber.com/

http://www.minersfoundry.org/

December 18Alpenglow Winter Film SeriesSquaw Valley Conference Center 7pm, FreeHear from locals and athletes as they share stories of their incredible adventures in the mountains. Many of these shows are a rare opportunity to meet and hear from these talented athletes. December 18th host is Chris Davenport.Information: www.squaw.com

http://www.squaw.com/

Dickson Realty Truckee Tahoe Newsletter December 2014

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