Bob Reilley
March 2020
Buying or Selling? I can save you Time and Money

4 Tips to Give Your Home a Fresh, Exciting Feel
Does your house still excite you as much as the day you bought it? When you spend time there, do you feel refreshed and excited, or just plain bored? 
      After a few years of ordinary living, it might be time to give your house a facelift. We’re not talking about a full makeover that will set you back thousands of dollars. These tips are simple, yet effective when it comes to freshening up the space where you spend so many hours of your life. 
      Let’s dive in.
      1. Brighten Up Your Wall Colors  Natural light is essential if you want to feel calm and refreshed in your own home. If there are
Mortgage Rates
U.S. averages as of March 2020:

30 yr. fixed: 3.45%
15 yr. fixed: 2.95%
5/1 yr. adj: 3.2%

are certain parts of your house that seem a little dark, it might be that the wall paint isn’t reflecting light enough. 
      Additionally, rooms with fewer
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Senior and Veterans Discounts! Low selling Fee!

5 Appliance Repairs That You Can Do Yourself (and 2 You Shouldn’t)
     Appliances are integral to our daily lives, and when they stop working the way that they should, it can be a serious problem. Many appliance repair jobs tend to cost a lot of money, and can be time consuming to schedule. In many instances, however, it’s possible to do the repair yourself, sometimes in just minutes. The following five repairs can be done by most homeowners, while the last two should always be left to the pros. 
      Replace the Thermostat in The Dryer If the dryer isn’t getting hot, it could be the thermostat. The thermostat often breaks and when it happens, the dryer won’t heat up. You can purchase a new thermostat at most hardware stores for under $80, which is a pretty big savings on most dryer repairs, which cost

Credit Inquiries: When They Really Matter and When They Really Don’t
     A credit inquiry is when an individual or a business requests a credit report from one or all of the three main credit repositories. These repositories are Experian, Equifax and TransUnion and all three use the very same algorithm when calculating the crucial credit scores.
      For most mortgage loan programs, a minimum credit score is required. There are five factors that go into calculating these three digit FICO scores and they are someone’s payment history, account balances, types of credit, how long someone has used credit and requests for new credit, referred to as an inquiry.
      There are two primary types of inquiries, a hard and a soft inquiry. A hard inquiry will have a direct and almost immediate impact on credit scores whereas a soft inquiry will not. A hard inquiry is one where the individual has made a direct request for new credit. The request can be for a new automobile loan, installment loan or a

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Looking to Buy a Home This Year? Credit Score Changes Could Make It More Challenging.
     First-time homebuyers are often surprised to learn they can qualify for a mortgage, especially if they don’t have great credit. But, changes to the way FICO measures credit scores are set to make it more difficult for many people to qualify. If you’re looking to buy a home this year, or anytime thereafter, here’s what you need to know.
      What is the new scoring system? “Fair Isaac Corp., commonly known as FICO®, has built a new suite of scoring models that will be available from all three credit reporting agencies (Experian, TransUnion and Equifax) to lenders by the end of 2020,” said Experian. “The new models will treat late payments and debt more severely, but will also now consider historical information about your credit card balances and payment amounts. Your FICO® Score will likely change as a result.”
      Just how could this impact borrowers? Consumers with high FICO scores who continue to manage their finances well may actually see an increase in their scores. “This change will create greater separation in the 600s,” said Forbes. “If you are in the lower 600s

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3 Tips for Buying a House That Will Support Your Lifestyle
How Much Will New Home Upgrades Cost?
“Mattress Money” and Mortgages
Five Valuable Think-Ahead Home Projects

Bob Reilley CREA Real Estate Broker
Cell: 630-533-0011

American Realty Network Inc.
800 Lee St
Des Plaines Il.60016

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