Credit scores
Most people who have obtained credit from a bank or retailer
have a “credit score”.
When applying for a mortgage loan, a credit report is always
required.
Although a mortgage underwriter will look at the entirety of an
application, the credit score and history are extremely important.
Here is a guide to scoring that may help you if you obtain a report:
Excellent credit: 750-850
Good credit: 660-749
Fair credit: 620-659
Poor credit: 350-619
If your credit report is at or below the “fair” range you could be at risk
for a denial or you may be forced to pay a higher rate.
For more information on your credit score, please feel free to call.

Whether buyer, selling, remodeling or building new, LaBeau and Associates, ReMax Advantage Plus and Ratzlaff Homes, Inc. have a team to help you with all your real estate needs. Call today....952-898-5800.

First time home buyers and home ownership

Over the past 2 years, housing affordability has improved, with incomes rising, home prices failing, and conforming mortgage rates at near historic lows.
Never has there been a better time to obtain the dream of homeownership.
If you are a first-time homebuyer, this is, certainly, a dream come true!
For the first time, in a long time, house prices are affordable and payments are manageable. Buyers are excited and surprised to realize that their new mortgage payment is comparable to what they pay in rent!
We have been in the business of helping folks, in this area, for over 20 years. Being familiar with the area, certainly, has it’s advantages!
To find out more about the benefits of homeownership, contact us. We truly want to help your family obtain the dream this year. http://www.labeauandassociates.com/

Merry Christmas!
Christmas Gift Giving Season Is Nearing Are you wondering what to give the special people on your Christmas gift list? What's going to be 'hot' for 2008? Below is a small selection of the most searched for Christmas products and gifts. These products are likely to be the top selling christmas gift ideas this year.Don't just guess this Christmas! Amazons prices are updated every hour so you will always be able to buy the most popular gifts at the cheapest prices. Don't panic. Online gift shopping is a good start.No need to fight the traffic and the crowds. No carrying a tonof presents. No searching for a parking space. You can actuallykick back with your favorite drink or snack and let your fingersdo the work.You can uncover a plethora of fancy, funny, entertainingchristmas ideas, without even leaving your comfort zone.Who cares if it rains or snows, how crowded the malls are or ifthe traffic is moving at a snails pace. You can be in your jammies keeping life simple. No need to ante up big bucks to show your appreciation whenbuying multiple gifts for those special friends and loved ones.The internet has something for everyone and the prices areusually lower than real world shopping. We have done the research and discovered the most searched for and purchased gifts for the top 10 christmas toys for 2008. Don't know any kids? That's okay, we also have a list of gifts that teens are goingcrazy over. You will find suggestions and gift ideas for all agegroups. Something for him or her. There is a galaxy of choice presents ready and waiting for you.Don't resort to a tie for dad or cheap perfume for mom. With the huge selection of christmas gifts online, you can spend just a bit of time and find the special unique off the wall gift thatthey will love. Online shopping has become very popular in the last few years.Christmas especially. Some gifts sell out very fast. So if the present you have selected is a must have, don't neglect to order now to miss the seasonal rush. Of course, there are quite a few gifts on the list of ChristmasToys 2008 got to-haves. Take a little time and be the best Santa you can.

And a great time to buy that home you have been looking for with interest rates at an unbelievable low rate. For additional information, look at www.labeauandassociates.com and give us a call!

Investment with big return!

Want an investment that can pay a guaranteed rate of return in the double digits? The average American household carries $9900 of debts on cards with a typical rate of 14%. Paying it off is like giving yourself a 14% return! What’s more, credit card companies are cutting their credit limits, which can hurt your credit score if you don’t reduce your spending. Charge only 30% of your limit to keep from hurting your credit.

If you would like additional information, contact the LaBeau and Associate team at 952-898-5800 or visit our website at www.labeauandassociates.com.

Deer hunting

Traditionally traditional deer camps in Minnesota and around the country have been dominated, to the point of almost exclusivity, by males. However, more and more women are taking to the woods, rifle or bow in hand, during Minnesota’s deer hunting season.
We know that deer hunting participation among women is actually increasing in the state. The numbers of women in the field is growing, particularly among young girls who seem to feel deer hunting is not just for the guys.
Here are some stats about deer hunting in Minnesota that you may not be aware of:
Minnesota deer hunters spend 4.6 million days in the field.
Deer hunting alone generates $236 million annually in retail sales, and 5,000 jobs each year in Minnesota.
Hunting is a tradition passed on from generation to generation, stimulating a stewardship ethic for habitat and wildlife, and promoting positive values.
The two largest whitetails by body weight killed in North America were both taken in Minnesota, one in 1926 near Tofte, by Carl J. Lenander Jr., and one in 1981 by George Himango on the Fond du Lac Indian Reservation. Both animals weighed 402 pounds field-dressed, with estimated live weights of about 511 pounds
In 2002, Minnesota Governor Tim Pawlenty began hosting the Governor’s Deer Hunt. Governor Pawlenty’s support and presence at the deer opener is a valuable endorsement and brings statewide and even national and international attention to this outdoor sport in Minnesota. This media attention helps Minnesota promote the tradition of deer hunting in the state. The Governor’s Deer Hunt is intended to celebrate Minnesota’s deer hunting heritage and tradition; showcase its impact on economic development and tourism; and highlight Minnesota’s quality natural resources.
The Minnesota Governor’s Deer Hunting Opener celebration is a unique event in the entire country; paid for by sponsorships, not state dollars.
deer camps in Minnesota and around the country have been dominated, to the point of almost exclusivity, by males. However, more and more women are taking to the woods, rifle or bow in hand, during Minnesota’s deer hunting season.
We know that deer hunting participation among women is actually increasing in the state. The numbers of women in the field is growing, particularly among young girls who seem to feel deer hunting is not just for the guys.
Here are some stats about deer hunting in Minnesota that you may not be aware of:
Minnesota deer hunters spend 4.6 million days in the field.
Deer hunting alone generates $236 million annually in retail sales, and 5,000 jobs each year in Minnesota.
Hunting is a tradition passed on from generation to generation, stimulating a stewardship ethic for habitat and wildlife, and promoting positive values.
The two largest whitetails by body weight killed in North America were both taken in Minnesota, one in 1926 near Tofte, by Carl J. Lenander Jr., and one in 1981 by George Himango on the Fond du Lac Indian Reservation. Both animals weighed 402 pounds field-dressed, with estimated live weights of about 511 pounds
In 2002, Minnesota Governor Tim Pawlenty began hosting the Governor’s Deer Hunt. Governor Pawlenty’s support and presence at the deer opener is a valuable endorsement and brings statewide and even national and international attention to this outdoor sport in Minnesota. This media attention helps Minnesota promote the tradition of deer hunting in the state. The Governor’s Deer Hunt is intended to celebrate Minnesota’s deer hunting heritage and tradition; showcase its impact on economic development and tourism; and highlight Minnesota’s quality natural resources.
The Minnesota Governor’s Deer Hunting Opener celebration is a unique event in the entire country; paid for by sponsorships, not state dollars.

www.labeauandassociates.com

Remodeling? Or Selling?

With a softer market in the Twin Cities area, many people who considered selling are now contemplating remodeling their current home. Adding on, finishing a lower level or redecorating the living area.

Ratzlaff Homes, Inc has a full-time decorator/stager on staff who can help answer your decorating and/or finishing questions. With a combined experience of over 60 years, the LaBeau and Associates team has significant experience with buying, selling, remodeling and building. Let them help you make the right decision.

Ratzlaff Homes, Inc. decorator also helps sellers stage their home to maximize that “first” opinion by buyers. In addition, can help increase the selling price of the home.

So – whether you are buying, selling, would like to remodel or build a new home, We are ready to help you!!!

Call today!

CREDIT FACTS

• The first widely accepted plastic charge card was issued in 1958 by American Express
• The average interest rate across all existing credit card accounts was 13.46% as of May, 2007
• The medium US household income is currently $43,200
• The typical family's credit card balance is now almost 5% of their annual income (ouch!)
• 8.3% of households owe $9000 or more on their credit cards
• Only 40% of credit card users pay their balance off monthly
• 25% of households have NO credit cards
• Less than half of all consumers have ever been reported as 30 days or more late
• The overall average number of credit cards per consumer is four
• One out of every 7 families in the United States have filed bankruptcy
• The average "retiree" in the US has less than $50,000 saved for retirement
• Nearly one in three purchases in the US are made by credit cards (and debit cards)
• The average ticket for Visa purchases is consistently more than cash
• Men, on average, save more than women
• The average savings rate in America is near zero

HOW DOES THIS AFFECT REAL ESTATE?

Zero down products are now gone, rates are now being affected by credit scores (and credit scores are often affected by high credit card balances).

FHA now offers financing with only 3% down. This will be changing in 2009. If you have more Questions about your credit or how to obtain your first home, give us a call!

Foreclosures

Home owners typically avoid facing the fact that they could lose their home. When they purchased the home, they certainly didn’t have any plans of going into foreclosure.

There are extenuating circumstances that force home owners to stop making timely mortgage payments. A few examples:

Job loss
Sudden illness or medical emergency
Death in the family
Divorce
Excessive debt obligations
Unexpected major home maintenance expense

These are just a few examples.

But how can you avoid going into foreclosure? Lenders prefer not to foreclose, but will file a Notice of Default to protect their interests. The first thing you should do when you are having a problem meeting your payments is to call the lender. Many home owners are embarrassed and would rather ignore it! Sooner is better!

A couple suggestions….Talk to your lender and ask to have some time to make up your payments – possibly spread them out over a longer term. Talk to your lender about changing the terms particularly if your current mortgage is an adjustable rate, the lender may consider freezing the interest rate. Add back payments to the loan balance.

Talk to a Realtor about selling your home to avoid the foreclosure. The realtor can give you an opinion of market value and an approximate time frame for selling your home. Some people in this situation may be tempted to hire a discount broker, but realize that you need the exposure and marketing that a full service broker offers.

For more information, please contact our team.

Count your blessings

As the lakes cool down and the leaves fly off the trees, it is time to sit back and welcome the upcoming fall season.

All the ads and holiday cheer should never mask the real reason we celebrate this time of year. We celebrate because we live in the best country on earth. We celebrate because we enjoy freedom, prosperity, safety and abundance.

We give Thanksgiving because the poorest of us would be the richest in many places of the world.

Owning one's home has long been considered a part of this "American Dream."

Home ownership not only helps many American accumulate wealth, it fosters community involvement and is the cornerstone of a healthy society. It enhances the quality of life and secures the family structure.

Over the past 2 years, housing affordability has improved, with incomes rising, home prices falling and conforming mortgage rates at near historic lows.

Never has there been a better time to obtain the dream of home ownership.

For the first time, in a long time, house prices are affordable and payments are manageable. Buyers are excited and surprised to realize that their new mortgage payment is comparable to what they pay in rent!

When you look around you, count your blessings. We truly have much more to celebrate this season than some would want you to believe.

To find out more about the benefits of home ownership, contact us. We truly want to help your family obtain the dream this year.

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