Before understanding how to repair your credit, it’s important to understand what your score is, and where it comes from.

Your credit score is a 3 digit number lenders use to calculate your eligibility and rate for a home loan. But how is your credit score calculated? The formula takes into account your payment history, how much you owe, how long you’ve had credit, and how often you apply for new credit.

There are several different credit score reporting agencies and each can have slightly different ranges. This is why it is important to take a look at 3 different credit reports in determining what your score range is.

 The following are examples of credit ranges and reporting agencies.

• The FICO score ranges from 300-850
• The VantageScore ranges from 501 – 990
• The Equifax credit scores range from 280 -850
• The Experian Plus ranges from 330-830
• The TransRisk score ranges from 350-850

With all these different credit scores and ranges, the one that is most widely used by creditors is the FICO score. Anything lower than a 650 may impede the process of qualifying for new credit. Because credit scores and credit reports are constantly changing it is important to review them on regular basis.  By checking your credit annually this helps you keep track of any fraudulent activity.

5 tips for improving your credit:

Pay bills on time: late payments and collections reduce your credit score.

Don’t max out credit limit: by keeping your balance below 65% of your maximum allowed credit you can increase your score.

Don’t apply for credit you don’t need: too many inquiries over a short period of time can reduce your credit score.

Don’t close old credit accounts even if they are inactive: this can make your credit history appear shorter which can reduce your score.

Correct any negative inaccuracies on your credit report: inaccuracies can increase your score.

With just these few tips and tricks to credit scores you can help keep your score at a reasonable level, and improve the probability of getting the best rates available for a home mortgage.

In Ideal Homes’ communities as well as other new home communities in the Oklahoma City Metro area there has not been any need to address hazardous icy driveways, sidewalks or porches this winter season. When the next big snow or ice storm hits, be sure to follow Chad Tolle’s, our Director of Customer Care, advice regarding the removal of packed snow and ice covering:

Avoid salt and chemicals when deicing porches, sidewalks and driveways. This includes Calcium chloride, Magnesium chloride, Deicing fluid and all other associated chemicals. These chemicals can penetrate, corrode and disintegrate concrete.

Rock salt (Sodium choloride) releases the highest amount of Chloride ions when it dissolves. These ions can pollute water supplies such as rivers, streams and lakes. They can also corrode metals on your vehicles and prove to be skin irritants. Imagine the damage caused to new landscaping and sod.

Tolle recommends evade all use of chemicals and take an alternative method of using sand. Sand acts as a traction assist and not as an actual deicer. Look for sand that has less dust content to ensure respiratory irritants are not later released into the air through the dust. Use minimal amounts so as not to cause clogging issues with drainage and sewer systems.

For more alternatives check out these Eco Friendly Deicing Options. You may want to contact our Customer Care team prior to using one of the listed options.

Check out our last blog post about avoiding frozen pipes.  If you have tidbits of advice you would like to share, email kboone@ideal-homes.com.

Visit Ideal Homes to learn more about our company, products and communities.

Ideal Homes takes a proactive approach to deter potential home ownership mishaps. Even addressing issues before they happen leaves room for error. Our warranties help eliminate financial burdens that may arise in the event something does go awry.

Our Customer Care Team visits our home owners at 60 days and eleven months after residing in the home. This is to address anything which can be covered under our one-year builder warranty & to ensure all expectations are met.

One thing which helps home owners avoid unnecessary mishaps is education. Frozen pipes can plague even the most savvy home owner.

Tolle states the following in regards to avoiding this cold and costly issue:

Unhook hoses or any applications to exterior faucets during below freezing temperatures.  These can hold water in the faucets causing it to break inside the wall. (See the faucet image.) The next time the exterior faucet is used, water may leak into the wall due to the break. Exterior faucets affected by freeze breaks are not covered under warranty and may become a costly repair expense.

When temperatures drop to freezing level ensure avoidance of frozen interior pipes by leaving a steady drip in water through faucets most affected by the decreased temperature. It is also helpful to open cabinets and circulate the warmer air to keep the pipes warmer. If the air is still too cold, caulk and seal any openings near the pipes.

Check out our last blog post about year round lawn health.  If you have tidbits of advice you would like to share, email kboone@ideal-homes.com.

Visit Ideal Homes to learn more about our company, products and communities.

New home buyers considering Norman, Oklahoma, enjoy a satisfying variety of choices with Ideal Homes. Trail Woods is one of the company’s five new home communities built in Oklahoma’s third largest city, which is also home to the University of Oklahoma.

Situated in the NE part of Norman off Rock Creek Road between Highway 77 and Porter Avenue, Trail Woods offers new homes from the $120’s to the $160’s. Two and three bedroom floor plans are available, with new home designs starting just below 1,000 square feet up to 1,634 square feet.  In addition to the many homesites available at Trailwoods for a family to build on, several homes are already completed and ready for quick move-in. The new home community’s central location provides easy, quick access to I-35, Sooner Road and Highway 9.

Young homeowners living in Trail Woods attend Adams Elementary, Whittier Middle School and Norman North High School, which is a short walking distance south of the community. Also within walking and biking distance from Trail Woods is the Cleveland County Family YMCA.

True to the Ideal Homes’ energy efficiency commitment, all the new homes in Trail Woods are constructed to building codes that offer twice the energy efficiency for heating and cooling costs as standard Energy Star homes.

For homeowners looking for a city with an abundance of entertainment, educational opportunities and athletics, Norman, Oklahoma, has it all. Chocolate lovers rejoice every winter at the annual Chocolate Festival sponsored by the Firehouse Art Center. Lords and ladies gather every spring to celebrate the Medieval Fair. Music enthusiasts listen to the smooth, captivating sounds of Jazz in June every summer. Come fall, it’s time to get some football and tailgating on as the OU Sooners take to the field.

Norman, Ideal Homes and Trail Woods – a true winning combination for anyone looking for new homes in Norman, Oklahoma.

According to a report by the National Association of Realtors, December marked the third consecutive month of rising existing home sales. This upward trend put the housing industry ahead of last year’s numbers.

The chief economist for the NAR, Lawrence Yun said, “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.”

On a 12-month basis, from December of 2010 to December of 2011 existing home sales were higher by 3.6%.  Also in December, housing inventory dropped 9.2 percent to 2.38 million existing homes on the market. This is the lowest level since March of 2005 when existing homes on the market reached 2.30 million.  Yun Said, “The inventory supply suggests many markets will see prices stabilize or grow moderately in the near future.”

As existing home sales rose over the past 3 months, so too did homebuilders confidence which has reached the highest level since June 2007, according to Bloomberg News this rise in builder confidence can be attributed to stronger sales and improved buyer traffic. The confidence measure among builders, which increased for the past 4 months in a row, reflect an improvement in all four regions of the United States.

What do all these statistics mean for buyers? This means many markets will start to see stabilization in pricing and will begin to see some growth. Now is the time to buy a new home.  With less inventory, low interest rates, and a strong indicator that many markets are beginning to stabilize, this would be the time to hop of the fence and give serious thought to following through on that new home purchase you’ve been dreaming of.

Source: National Association of Realtors. 

Our Director of Customer Care, Chad Tolle, is our new homeowner’s best resource for home health advice. Our  E-Newsletter, Tolle’s Toolbox, will circulate bi-monthly and tie back to different tips he and the Customer Care Team share through our blog.

The first tidbits regarding yard maintenance are crucial given this mild temperature we have had so far this winter season. One surefire way to watch a potentially beautiful lawn deteriorate is by not quenching its thirst throughout the seasons.

Tolle states the following in regards to wetting your lawn’s whistle:

Continue to water new sod, shrubs and trees as weather permits.  Grass turns brown and trees lose leaves due to changes in seasons. Make sure to still care for lawn and landscaping.

Winter can bring precipitation, and yet Oklahoma weather is anything but predictable.  If climate dictates no moisture for a week and the temperatures are mild enough to do so, it’s time to water. Watering the grass during winter months can continue to help secure root establishment. This will assist in making  greener, healthier lawns when the season changes.

Another thing to consider – avoid herbicides if your lawn is less than a year old. Herbicide will kill your dormant Bermuda. This will leave your lawn in disarray upon the arrival of spring.

We will post more advice soon. If you have tidbits of advice you would like to share regarding home health, email kboone@ideal-homes.com.

Visit Ideal Homes to learn more about our company, products and communities.

Cooling off and playing around in the neighborhood’s splash pad is just one of the amenities found at Featherstone. Add more than 40 acres of common areas, a playground, gazebo and Victorian lamp posts that dot the landscape, and you’ll find Featherstone to be a quiet new home community full of personality in Moore, Oklahoma.

Located in SW Oklahoma City south of SW 149th on Western, this Ideal Homes new home community offers new homes in Moore, Oklahoma from the $140s to $180s. Three and four-bedroom home designs are available from 1,267 to approximately 2,000 square feet. Keep in mind that all of Ideal’s new home designs, from the smallest to the largest, follow strict construction guidelines that provide twice the energy efficiency in heating and cooling as Energy Star homes. This green feature saves home owners approximately $50 to $80 per month on heating and cooling costs when compared to homes built to standard energy codes.

Whether you’re needing a new home now, within the next 45 days, or have the time to build from the ground up, new homes in Featherstone can accommodate your time frame.

Featherstone offers a quick commute to Oklahoma City’s three major highways – I-35, I-240 and I-44 and Will Rogers World Airport. New home owners living in Featherstone enjoy shopping, dining and entertainment in SW Oklahoma City and Moore, both of which are minutes away.

Moore Public Schools serve the children living in Featherstone. They attend Oakridge Elementary, Brink Jr. High and Southmoore High School, Moore’s newest high school facility.

Featherstone is quickly becoming one of Moore, Oklahoma’s most popular new home Communities.

We recently talked about the trend toward smaller more economical homes, but small doesn’t need to be cramped and, in-fact, with some well-planned design elements a small space can feel even roomier than poorly planned big spaces.

Many new home layouts include open airy floor plans, high soaring ceilings, large windows and nice storage nooks. As builders move toward creating smaller spaces, this has given rise to smaller furniture as well so shopping for your home should be a snap. The following tips and tricks can help you make the most out of your floor plans and create a comfy cozy home.

1. Define a Space with Open Shelving – A great way to define two adjacent rooms in an open floor plan is to create a shelving unit that can store some of your knick-knacks. A floor to ceiling open unit provides spaces for items while still leaving the airy feel that an open floor plan has to offer. You don’t lose any of the light and yet can create two distinct spaces while adding more storage.

2. Turn Nooks into Usable Space – do you have a space between two walls or a tiny alcove? Make this into usable space with storage benches, shelving or desks to create lounging, storage, or workspaces.  This goes for spaces under stairs, in bay windows, or even between two closets in a bedroom.

3. Avoid Dark Colors – To keep spaces open and bright and to give a larger feeling, decorate with lighter hues both for your wall colors and for your furniture. Dark colors can make rooms appear smaller and more cramped.

4. Floor to Ceiling Window Treatments – Increase the flow and create a larger look to your room with floor to ceiling window treatments. This creates the effect of an extensive bank of windows, and draws the eye up to the high ceilings in the space creating a spacious feel.

5. Use Mirrors to Enhance Space – This is one of the oldest and most effective tricks in the book. A well-positioned floor to ceiling mirror can extend the space visually and bounce the light around a room and brighten the space as well.

Just a few small implementations can create big results in turning your small space into a grand statement.  Let us know if you have any tricks and tips that work for you!

Gone are the days of the McMansions.  At one time Americans were trending toward large homes filled with soaring ceilings, rooms for every occasion, thousands of square feet and skyscraper like windows.

As the housing industry changes, so too do the demands of buyers. In today’s market conditions, economy is the key.  Builders are building smarter, not larger.  Money is saved when clever builders take the time to analyze the space and make full use of it verses adding superfluous square footage along with higher prices.  Larger houses sit on more land, and use more materials to build. This is a double whammy on the pocketbook.

According to the National Association of Home Builders, the average home in the US measures out at about 2390 square feet. This number is expected to drop further to 2150 square feet by 2013.

With efficient space planning, multiuse rooms, the use of energy saving materials, and the downsizing of the home, builders are providing homes that are more budget friendly while still providing ease of livability. The trend toward downsizing and one-story homes can be attributed to the aging baby boomer population. Living on one level, or in easier to maintain townhomes and condos allow the older generation more freedom and escape from costly house payments, pesky stairs, high maintenance requirements, and create a more convenient over all living experience.

Even today’s designs are trending more toward smaller homes.  Furniture is starting to scale down in size, decorating shows and magazines are focusing on small spaces, and space saving ideas are popping up all over.

Stay tuned for some great multipurpose decorating tips for small spaces. Space planning doesn’t mean losing any luxury or details that makes your house a home.

Buying a new home is sometimes like one of those other resolutions on your list — losing weight, being more productive, getting more involved with friends and family…truth is old habits die hard. Ever heard the saying better the devil you know, then the devil you don’t?  How about, “if you always do what you’ve always done, you’ll always get what you’ve always gotten.”

If you’ve been considering buying a home of your own for a while now, but continue to sit on the fence because you just aren’t sure you want to make that change you are not alone.  Just as millions make resolutions every year to lose the weight and get in shape and only a savvy few stick to it and make that change, so too does this happen to would-be new home purchasers. All too often potential new homeowners deter themselves with their own negative self -talk. Change can be scary.  Change can be difficult. Sometimes not changing is an easier decision and the path of least resistance.  But ask yourself where that decision is getting you? Ask yourself these questions and do some soul searching.

Do you want to continue to be a renter in someone else’s home? Do you constantly want to ask for permission to make changes such as wall colors, floor coverings, and bathroom tiles, and landscaping? Do you want to continue to improve another person’s property because you can’t make the leap to be doing this work on your own investment?

Are you going to continue to allow someone else to get the income your monthly rent allows verses the tax advantages you’d receive if you were paying into your own mortgage instead of rent?

Mortgage rates continue to be favorable in purchasing the most house for the least amount of money.  Builders are building in great locations, their neighborhoods are chocked full of amenities not found in older communties, and competition is fierce causing them to provide the biggest bang for your buck.

There are so many advantages to home ownership. A new home beats a used home every time!

What are you waiting for? If your resolution is to own your own home, you can do it, and it’s a lot less hard work than getting that body you want.  The devil you don’t know yet, is the peace and sense of home ownership you’ve been abdicating to your landlord.  Break out and do something new for the New Year, and get what you really want.