If you are like most consumers, you are entering into a season of spending! Can you believe there are fewer than 30 days until Christmas? According to the National Retail Federation, the average American will spend approximately $700 on holiday gifts and holiday treats and goodies this year, totaling more than $465 billion nationwide.  While those numbers can be mind boggling, all this spending actually presents opportunities for you to be responsible, stay within your means and pay off any accumulated debt early. Additionally, this practice during the holiday spending season will help you build good habits, thus continuing tTraditional Christmas tree with ornaments and wrapped gifts o improve your credit score in the future.

Don't Have Credit Yet?  If you envision owning a home someday,  you will need to fix that. You can get your credit started by putting a cell phone or electric bill in your name. Or consider applying for a credit card with a very small limit (such as $1,500 to $3,000) and be mindful of the due date by setting a recurring alarm or iCal reminder in your phone. If your landlord accepts credit cards, then put your rent on your credit card each month and then be sure to pay that off - without fault!  If you are a student, take out a small loan to help pay your college expenses and then be sure to understand the re-payment terms.  Voila! Your credit has been established. 

Do You Have Bad Credit? According to credit experts at Credit.com, credit repair can involve fixing your bad credit in any way, shape or form. It may help to think of your credit score as similar to starting a healthy diet. It may feel difficult at first, but once you see the benefits, it becomes easier to adopt as a routine in your life.  As a result of your hard work and discipline, you will likely have more opportunities to qualify for a home loan, for example, if that is your goal.  A good score to shoot for is 650 or higher, but don't give up if your score is much lower. Time and discipline will pay off. 

Need Your Credit Repaired? According to Credit.com, when most people use the term ‘credit repair’, they’re referring to the process of disputing errors on credit reports. You can go through this dispute process for free with each of the credit bureaus on your own. This involves filing a formal dispute with the credit bureau(s) in question either online or via snail mail.  However, this process is time consuming and so I recommend you work with a qualified, experienced lender and use Rapid Rescore to fix any mistake appearing on your credit report. You can also learn more about disputing such errors here.

Ready to buy?  If you would like to see housing data for Boulder County, there are plenty of statistics to check out in such as "Days on Market", "Total Inventory" and "Newly Listed Homes".  We track all these market statistics for Single Family Homes (SFH) for most of neighboring towns on a monthly basis, including Louisville, Erie, Lafayette and Superior. Check out latest market statistics here.  At Louisville Realty Associates, we have the experience, energy and depth of knowledge to help you list your home for the best price. You can reach me anytime at cory@louisvillerealtyassociates.com.

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