Your Good Credit Score Might Not be Good Enough Anymore

CANTON, OH, Aug 25, 2010 - There was a time when a 680 credit score yielded great interest rates for consumers. Today, however, according to Bankrate.com, the best rates and mortgage programs go to those consumers with credit scores over 700. According to Jim Bray, President, of Cutler Real Estate, consumers with less than a 700 credit score may see additional fees of 1% or more and increased interest rates as high as 1% over the base rates. These increased fees and interest rates could mean about $3,500 in extra fees and as much as $134 a month in additional monthly mortgage payments for a new home buyer purchasing a $350,000 home.


“Due to the tumultuous landscape of our current economy, many consumers are finding that their credit scores are dropping...even though they‘ve continued to pay all their bills on time, “says Bray. “This is happening unknowingly to millions of consumers across the country who have good to excellent credit. Unfortunately, there are many factors now affecting consumers‘ credit scores that they are unaware of.“

For example, a consumer might have had their oldest and most established credit card closed by a creditor due to non-usage. Second, two other creditors may have dropped the consumer‘s available credit limits, which negatively impacted their credit utilization ratios (i.e., amount spent each month compared to the credit limit). In each case, these changes occurred for no other reason than the creditors‘overall concern for risk in the marketplace.

So what should you do? According to Bray and the credit experts at ApprovalGUARD (www.approvalguard.com), here are three suggestions to keep in mind:

1. Understand how credit works. Although you may think you understand how credit works (i.e., “As long as I pay all of my bills on time, I will have good credit“), there are many misunderstandings. Understanding how credit reports and scores work to create an excellent credit profile is important and becomes the foundation to strong financial self-management.

2. Credit and debt optimization. Take a snapshot of your current debt profile compared to your current income and liquid assets, then look for ways to optimize your debt. Examples could include strategies to reduce credit card balances owed to lower limits that will help you strengthen your credit scores, reduce interest rates and/or create opportunities to move balances to lower interest rate debt alternatives.

3. Know what‘s going on. It‘s important to review your credit at least three or four times per year. By doing so, you can monitor it for changes that may have occurred without your knowledge. It‘s also a great opportunity to self-monitor your profile for errors or suspect activity such as identity theft. The Fair Credit Reporting Act guarantees you access to a free credit report every 12 months. For more information visit the Federal Trade Commission website at http://www.ftc.gov/. Once on this page, click, “Free Credit Reports“ for information on how to obtain your annual credit report from each of the three major credit reporting agencies free of charge.

“Understanding, building and self-managing your credit is like changing the oil in your car, “says Bray. “If you do it regularly, then the car runs better. If you do it only when the engine has problems, you often find yourself in a challenging situation. “

For more information on today‘s credit climate or to request a free home mortgage pre-approval, please contact Bob Giacomo at Robert.P.Giacomo@mortgageoneohio.com or Cutler Real Estate.

FOR IMMEDIATE RELEASE CONTACT: James Bray 330-491-2700 JBray@CutlerHomes.com How Homeowners Can Increase Their Home's Value in Today's Market CANTON, OH, Aug 20, 2010 - In today’s climate of dwindling home values, many homeowners are wondering if it’s at all possible to increase their home’s value. According to Jim Bray, President of Cutler Real Estate there are steps you can take to build equity despite current market conditions. “To elevate the value of your home, a detailed and specific assessment of your home, and the homes against which it will compete in the market, is necessary,” says Bray. “A professional home inspection-especially for those who are not planning to sell their home soon-can help determine exactly what needs to be done to increase your home’s value and can help you plan for expenses if there is work to be done.” Having your home professionally inspected well before putting it on the market—or when you’re not even planning to put it on the market—has a number of advantages, says Bray: For a relatively minor investment, homeowners will have an opportunity to review an objectively prepared assessment of the condition of their home’s structure, systems and amenities Everything else being equal, the inspection report should be consistent with the report prepared by a buyer’s inspector, virtually eliminating stressful surprises when the home is on the market one day Having an inspection done while their home is not on the market provides owners with an opportunity to decide whether to do the work themselves or to have the work contracted at their convenience and without the pressure of a deadline The greatest value of proactive inspection is that the decision to repair vs. replace will be the homeowner’s alone…not a prospective buyer’s. A buyer may use the replacement of the air conditioner or the roof as a negotiating gambit when a proactive, high-quality repair would have been completely satisfactory. This places homeowners in a much stronger negotiating position in the future “By taking this proactive approach to home inspections, homeowners can increase their home’s value instantly, giving it a strong competitive edge in the market if and when they decide to move,” says Bray. “By addressing major repair/replacement issues now, homeowners diminish competition from newer and better-maintained homes on the market.” For more information on increasing a home’s value, please contact Cutler Real Estate at JBray@CutlerHomes.com, 330-491-2700 or Cutler Real Estate. Cutler Real Estate, founded in 1947, is a full service real estate company serving Stark, Carroll, Tuscarawas, Summit, Medina, Portage and Wayne counties. Cutler Real Estate is the largest locally owned real estate firm in Northeast Ohio and one of the 100 largest in the country. Cutler provides a one-stop shopping approach to the real estate market, and is one of only a few in the state providing in-house consumer resources including relocation, commercial investment, auction, new homes, insurance and mortgage and title services through affiliates Mortgage One and Title One. For more information visit their website at CutlerHomes.com ###

Cutler Real Estate Accepted for Membership in RISMedia's Exclusive Real Estate `Information Network®

New Network identifies leading companies providing leading information to consumers.

NORWALK, CT Aug 09, 2010—Recognizing the need to identify those real estate brokerage firms most committed to serving consumers, RISMedia recently launched its Real Estate Information Network® (RREIN), a network of leading companies providing leading information. Cutler Real Estate is proud to announce its membership in RREIN, signifying the firm’s leading position in Northeast Ohio.

As its name suggests, RISMedia’s Real Estate Information Network® is exclusively reserved for only those real estate firms committed to providing consumers with the critical information necessary to make the best possible real estate-related decisions. As required by RISMedia, which has provided the real estate industry with leading-edge news and business-development strategies for 30 years, each member of RREIN must provide consumers with timely and relevant real estate content, as provided by RISMedia and other information sources.

“Consumers today have an inadequate level of understanding about the process, opportunities and risks facing them in real estate transactions, and they badly need a network of trusted real estate firms they can rely on,” said RISMedia President and CEO John Featherston. “RISMedia’s Real Estate Information Network® is designed to meet this critical need for consumer education and to help consumers identify those real estate companies who can deliver relevant information, a full suite of real estate services, and a sales force of experienced, professional real estate agents.”

RREIN is a formalized network of real estate brokerage firms that have earned elite status within their respective marketplaces. Membership is granted to only those North American real estate firms that demonstrate proven leadership in their respective regions and are committed to providing consumers with relevant real estate-related information.

“Through RISMedia’s Real Estate Information Network®, leading real estate firms can now benefit from the unparalleled information resources of RISMedia, enhancing our value proposition to both consumers and our sales associates,” said Jim Bray, President, Cutler Real Estate. “Through its unique, consumer-facing programs, RISMedia is allowing leading real estate companies and their sales associates to better serve and educate consumers in today’s challenging real estate environment.”

For more information on Cutler Real Estate, please visit Cutler Real Estate.

Cutler Real Estate Named to National “Top 100”

Northeast Ohio real estate company, Cutler Real Estate was honored by REALTOR Magazine with inclusion in its list of the “Top 100” real estate companies in America. Cutler’s ranking was based on closed transaction sides.

“The hard work of approximately 300 trained Realtors consistently enables Cutler Real Estate to rank in the “Top 100” real estate companies in America as reported by REALTOR Magazine. Cutler Realtors ranked in the top 85th percentile of the “Top 100” list based on the number of closed transactions per Realtor per year. Cutler’s world-class education, training and career opportunities enables our Realtors to attain these outstanding results”, said Jim Bray, Cutler Real Estate, president and partner. “We are pleased to be one of only three Ohio based real estate companies to be named to the REALTOR Magazine list”, continued Bray.
“Spotting and seizing new opportunities in the face of market difficulties has paid dividends for our company”, said Bray. “The face of real estate has changed immensely and our ability to adapt and grow has been a huge part of our success. Our award winning website, CutlerHomes.com is responsible for generating a large number of transactions for our Realtors. Our mantra, “Be Where the Buyers Are”, has positioned us to be one of the leading websites in our market, continued Bray”.