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Components Of A Credit Score

by Judi Monday, Your Green Valley AZ Expert

Credit scores are used by lenders to measure the credit worthiness of borrowers. While there are several different companies that offer scores, the FICO, Fair Isaacson Corporation, is the model that is used most often.

There are five key components that determine the overall score or rating. The most emphasis, 35% of the overall score, is placed on payment history which reflects whether the borrower paid on time and as agreed by the terms of the credit. Being late, missing payments or going into default would have adverse effects on this part of the score. FICO score.png

The second largest component, 30%, is credit utilization or the amount owed in relation to amount available. A person might have a $4,000 outstanding balance on available credit of $20,000. This would be a 20% ratio and would be considered acceptable. Owing $15,000 on $20,000 of available credit would be a 75% ratio and would negatively affect this part of the credit score. FICO says people with the best scores average around 7% credit utilization.

The length of time each account has been open and the account’s activity determines 15% of the total credit score. By having a longer credit history, the credit provider has a better indication of the borrower’s long-term financial behavior. Having an open account without activity doesn’t offer a provider much information.

New credit and types of credit each account for 10% of the total score. New credit can adversely affect a score because it is a new obligation without history of how it will affect the borrower’s ability to repay all of their liabilities. Types of credit include both revolving and installment debt. A good mixture of each can indicate less risk for lenders.

The combination of all five areas make up the total score which lenders use to determine credit worthiness. Another confusing issue is that all credit scores are not mortgage credit scores. This particular score determines not only whether the lender will make a mortgage but at what interest rate.

The best place to get your credit score if you’re planning on purchasing a home is from a trusted mortgage professional. This person will be able to suggest things to improve your score if necessary. Buying a home is one of the largest investments in most people’s lives; it is really not a do-it-yourself activity.

Solterra By Fairfield Homes-Built By Dorn Homes

by Judi Monday, Your Green Valley AZ Expert

       

 

Green Valley's Newest Community

 

                   

                                  

                 By Fairfield Homes

 

        Constructed By Dorn Homes

 

Two of the area's oldest and most respected developers, Fairfield Homes and Dorn Homes, have teamed up to bring a building revolution to Green Valley, Arizona.

 

Solterra, inspired from "Sol" for Sun, and "Tierra" for Earth is as unique as its name:

 

  • VIEWS!  Each homesite has been specially created and engineered to take full advantage of the magnificent mountain views from Sunrise to Sunset. 

     
  • UNBEATABLE CUSTOM FEATURESNot your typical home, these are loaded with all the "I Wants", including granite in the kitchen, solar water heater, thermal envelope insulation, and more!

     
  • LIFESTYLE.   Your new home in Solterra includes membership to Green Valley Recreation, Arizona’s most famous recreational campus network boasting over $18 million dollars in facilities including 13 recreation centers, swimming pools, spas, fitness centers with state-of-the-art equipment, racquetball, and tennis. With over 60 clubs to choose from you’ll be able to find the activity of choice, from cultural events to arts and crafts to ceramic studios and woodworking shops. Hundreds of volunteers assist a dedicated staff to help operate year-round programs for the active adult lifestyle.
     
  • FLOORPLANS For Every Taste & BudgetCatalina, Artesa, Estrella, and Cimarron.


 

 
 

 

  Exclusively Marketed By:

                                  

   Call Judi Monday:  520-241-7780

   Or EMAIL:  Judi@JudiMonday.com

 

Desert Creek In Green Valley Arizona

by Judi Monday, Your Green Valley AZ Expert

Desert Creek in Green Valley Arizona is a 55+ community that provides the lifestyle you want.  Offering six distinctive and budget friendly single-story home designs, Desert Creek has a floor plan to meet your specific needs. 

Relocating to Green Valley means you’ll never be more than a few minutes from a year-round golf course. Residents have access to 8 local golf courses and 2 more within easy driving distance of the city. If you'd like to find out more about Golf Opportunities in and near Green Valley, then visit my page dedicated to Golf Courses in the area.

Golf not your thing? Try out one of the cities 13 recreation centers, each ranging from 2,000 to 25,000 square feet. There are 7 Major Centers, which feature a combination of extensive amenities, including: an auditorium; social and meeting rooms; a catering kitchen; swimming pool with a spa; hobby/craft studios, including: art exhibition centers, clay studios, wood shops, and art rooms; a fitness center; tennis courts; racquetball courts; billiards; and shuffleboard. Desert Hills Social Center even has a sauna! Satellite Centers serve smaller neighborhoods and typically feature a pool, spa, and meeting room.

Desert Creek has something for everyone.  Ranging from approximately 1,200 to nearly 2,200 square feet you can opt to buy a new construction home or enjoy the many benefits of owning a resale in this close-knit neighborhood that is located near shopping and dining.  Most of the homes offer open floor plans with a great room concept and split bedrooms.  One of the most distinctive floor plans offered by Desert Creek in Green Valley, Arizona is the Tapatio with its distinctive windowed alcove breakfast nook, like this beautiful resale: 

                     1561 N Rio La Junta

Join Dorn's Home Building Revolution in Green Valley Arizona

by Judi Monday, Your Green Valley AZ Expert

 

Dorn Homes is re-engineering the American Dream in Green Valley, Arizona.  Their revolutionary approach to constructing homes will change the way you shop for your next Green Valley, Arizona real estate purchase.    You'll not only save tens of thousands of dollars in utility bills but you'll be living in a healthier environment. 

Called the Building Science method of home design and construction, Dorn Homes uses a holistic approach to maximize four key components:  Energy Savings, Performance, Health and Comfort.

Energy savings comes with "Building Science By The Numbers".  Each Dorn built home must meet the stringent HERS (Home Energy Rating System) standards set by the Residential Energy Services Network.  HERS is a scoring system that measures a home's energy efficiency and determines if it meets Energy Star guidelines.  The lower the HERS index, the more energy efficient the home.   All HERS certifications are conducted by an independent and leading Arizona energy consultant and certifier. 

On average, Dorn's built homes score between 48 and 61 on the HERS scale as compared to older pre-existing homes with a HERS score of 130.  This significant difference means you could save $12,000 to $20,000 in utility costs over an ownership of 10 years. 

 

And there's more.  Dorn Homes feature a sealed thermal envelope that radically reduces heating and cooling.  A Fresh Air Intake and Full Home Ventilation System creates an environment that contains healthy fresh air, less dust, fewer odors and a comfortable and consistent temperature.  Solar panels on the roof are a standard feature AND your new home may qualify for a $2,000 to $5,000 tax credit. 

Are you ready to join the Dorn Revolution?  For a complete list of the many features engineered into every Dorn home or to find out more about their partnership with Fairfield to build a new green community called Soltera in the Las Campanas area, give Judi a call at 520-241-7780.  I'll make sure you find the perfect home at a price that fits your budget.  

JUDI MONDAY, CRS         

520-241-7780

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Torres Blancas Golf Course Neighborhoods In Green Valley AZ

by Judi Monday, Your Green Valley AZ Expert

Nestled at the foot of the Santa Rita Mountains in the breath-taking Santa Cruz River Valley is the Torres Blancas Golf Course. The 72-par, championship golf course is a part of “The Land of New Beginnings,” the retirement paradise of Green Valley, Arizona.

A variety of picturesque neighborhoods just East of 1-19 offer a number of options for anyone looking to live near the Torres Blancas Golf Course area.  Situated near a grove of pecan trees, The Springs is a beautiful neighborhood for winter picnics, bicycle rides and coffee-get-togethers. The Links is a small, close-knit community of 94 homes. Additional neighborhoods include: The Greens, The Fairways, Sunrise Point, and the Silver Springs Assisted Living Center.  Remember to visit the class catalog to find the current classes being offered by the Green Valley Recreation centers.

In addition to a wide choice of neighborhoods, there is a selection of home sure to fit every taste and budget.  Looking for a home where Southwest Flair Meets Outstanding Floor Plan

Or perhaps a private and serene setting with a home that has soaring ceilings and a 1 bedroom/1 bathroom casita giving your overnight guests the ultimate in privacy is more to your liking.

Whatever your taste and budget, golfers and non golfers alike will appreciate the diverse housing choices and picturesque neighborhoods clustered around the Torres Blancas Golf Club

Before You Say YES To A House

by Judi Monday, Your Green Valley AZ Expert

Two of the buyers that I am currently working with are clients of mine who each bought a house though me less than a year ago.  This is the first time in my relatively short real estate career I have had anyone come back and say they bought the wrong house...and it has happened twice in the last month. It has made me wonder how such a costly mistake could be made and what advice I should give to buyers to help prevent it from happening again. 

First and foremost I would tell anyone thinking about purchasing a home to sit down and create a list of must haves in their new home.  Secondly,  prioritize that list in two ways--things that are cosmetic and therefore can be changed and those items that cannot be changed or "fixed'. 

For instance, you "must" have granite counter tops.  Of course, the best case scenario would be to find that perfect home with granite counters.  But, let's say you find a home that fits all the criteria on your list except for the granite counters.  Given that this is something that CAN be fixed, and, if there isn't another home that fits so perfectly with what want in a home, then the lack of granite counters shouldn't be a deal breaker.

However, let's say a quiet setting is high on your list because you are sensitive to noise.  You find find a home that has granite counters and everything else on your list EXCEPT it is close to a busy highway.  Then this is a house that no matter how perfect it may be otherwise, is one that you should most likely walk away from or risk living each day regretting your decision to buy it.  Perhaps the noise is at a level that can be masked to some degree with a water feature -- then you need to consider if the noise will grow louder over time as the community continues to grow.  Is this a risk you are willing to take?

Lastly I would advise a buyer to make several visits to the home at different times of the day and to use all of their senses each time to evaluate whether this is really the right home.  How do you feel when you are in the home; what noises do you hear; what do you see as you walk around the inside and outside of the home; and what do you smell inside and outside the home? 

In summary, as you begin your home buying adventure, come armed with a list of everything you MUST have in your new home.  Understand which items on the list are cosmetic in nature and therefore could be changed, if necessary, as opposed to those that cannot not be changed or "fixed".  By NOT compromising on the items that can't be changed, chances are you will live happily ever after in the home of your dreams. 

   JUDI MONDAY, CRS         

520-241-7780

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Certified Residential Specialist

San Ignacio Real Estate In Green Valley AZ

by Judi Monday, Your Green Valley AZ Expert

A rare experience awaits those looking to relocate to the area around the San Ignacio Golf Club in Green Valley, Arizona. Rarely can a recreational facility of any kind be said to define the experience of living in a particular area. As part of Green Valley Recreation (a non-profit partnership of 13 recreation centers) the San Ignacio enclave of homes does just that. The neighborhoods and partner facilities making up this exclusive, sporting community represent a quality of life often sought after, but rarely found.

The name San Ignacio comes from the area’s history. Straddling I-19 about a half hour south of Tucson, Arizona, the land was originally part of the San Ignacio de la Canoa Land Grant, a gift from the King of Spain in 1820. In the 1960’s it earned the recognition and favor of many looking to retire from the East Coast. The area’s 25,000 year-round residents, most of whom are 55 or older, who have already discovered the rich community life of the neighborhoods surrounding the San Ignacio Golf Club, and for those looking to relocate, now, it’s your turn.

Here are 3 well-priced featured homes in the San Ignacio age restricted neighborhoods, which include:  San Ignacio Vistas 1 & 2; San Ignacio Ridge Estates; San Ignacio Heights and San Ignacio Golf Estates:

1997 W Calle Estio, Green Valley, AZ

 

 

1997 W Circulo De La Pinata, Green Valley, AZ

 

 

1513 W Acala Street, Green Valley, AZ

Couldn't find what you are looking for in the featured homes?  Check out all of the listings in the San Ignacio age restricted neighborhoods:

 

 

 

 

 

 

 

 

 

 

Home Buying Checklist

by Judi Monday, Your Green Valley AZ Expert

You've decided you want to take advantage of the great deals that are out there in the Green Valley AZ real estate market.  Here's a handy checklist for you to use as you embark on your home buying adventure:

  • First, figure out how much you can afford and the amount of your down payment.  Most lenders want a minimum of 20% down but there are definitely exceptions for those of you with a stellar credit rating.  

  • If you are planning to finance your new home, get preapproved for a mortgage.  Bring that preapproval with you when you meet with your real estate agent. 

  • Take some time to figure out what you want and need in a home.  Your checklist of desired features should include, # of bedrooms, bathrooms, garages and whether you need a den.  How important is the age of the home to you?  Do you want a single family home or do you prefer a townhome?  Is a view important?  The more you can visualize the home of your dreams in concrete terms, the easier your search will be. In todays' highly technological age you can peruse many websites to get a feel for the type of home that appeals most to you.  Once you've nailed down what you want, sign up for an automated search that will deliver home listings that fit YOUR criteria to your email inbox. 

  • Work with a Realtor who knows the market.  Knowledge of a community and its various neighborhoods is key to finding the right home.  Experience and chemistry are important as well as finding an agent with the advanced training and expertise to skillfully guide you through the home buying process.   What do your agent's past clients have to say about him or her?

  • Once you have narrowed down your search to "the one" then be sure to study the comprehensive market analysis that your agent will provide on that home's neighborhood.  Make sure you understand the comps and where the market is headed before making your offer.  

  • Let the negotiations begin--make your offer and be sure to include any special contingencies that are not spelled out in the contract.  Once both parties agree to the terms then sign the Purchase Contract.

  • Your real estate agent will make sure that all the timelines outlined in the Purchase Agreement are followed such as the number of days you have to get your inspections completed.  At a minimum, be sure to have home and termite (especially in Arizona!) inspections done.  Your home inspector should be able to determine whether you will need more specific inspections for other areas like the roof and HVAC system.

  • If you are financing the property your Lender will require an appraisal. You may want to consider having an appraisal done even if you are paying cash for the property--and use it to renegotiate the price if necessary. 

  • Don't forget to choose a home insurance company.  Work closely with your Lender to ensure everything is completed prior to the contract mandated close date. 

  • Do a final walk through before closing.

  • Begin enjoying your new home!

Not All Home Inspectors Are Created Equal

by Judi Monday, Your Green Valley AZ Expert

After months of scouring various websites to find homes for sale in Green Valley, AZ, and countless hours spent with your Real Estate Agent, you've finally signed a purhase contract and it has been accepted by the Seller.  You may be thinking, it is finally time to celebrate making a great deal on the home of your dreams.

Before you get too excited, make sure your home is as good as it looks from your viewpoint.  Hire a professional...and, not just any professional to perform a comprehensive Home Inspection.   So how do you know if you are hiring the right Home Inspector? 

Take the time to read "10 Questions Buyers Should Ask Home Inspectors" that appeared in Realtor.org. 

The inspection period is a critical component of the home buying process and a well qualified Home Inspector can make the difference between feeling as happy as you felt the day your contract was accepted when you finally move into your new home or feeling like you've make a huge mistake on the biggest investment most people ever make. 

Remember, not all Home Inspectors are created equal so do your homework and choose wisely. 

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Judi Monday
RE/MAX Valley Properties In Green Valley, AZ
210 West Continental Road
Green Valley AZ 85622
Direct: (520) 241-7780
Fax: (520) 648-2221