Wayne Folsom

Veterans Day

2011-11-08T21:09:00Z

This Veterans Day,

Make a trip down to Fort Logan National Cemetery.

Spend time honoring those who paid the ultimate price.

Take some moments to understand what they died for.

What freedoms we have,

What we stand for as a nation and what you stand for as an individual.

Our rights and freedoms as spelled out by our founding fathers are the foundation

That has inspired throughout our entire history, families to sacrifice for the greater good of us all.

After giving thanks,

Pledge to not to take for granted those freedoms and our rights,

At the same time take responsibility to understand what they meant to those who given their life’s,

Moreover, how precious they are to future generations.

Every generation of Americans needs to know that freedom exists not in doing what we like,

But in having the right to do what we ought.”

Thomas Jefferson

May your day be blessed with great inner discoveries!

Wayne Folsom

FICO, how do we get it to work for us

2011-10-09T17:42:00Z

Like it or not is here to stay and it keeps on evolving.

Here are 5 Factors That Decide Your Credit Score

Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:

1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com.

Current housing market

2011-09-05T12:35:00Z

What with this I am hoping to accomplish with this weekly blog, is to get some retrospect to some of the issues that come with Real Estate transactions in northern Colorado.

Sunday Sept 4 2011,

With the current housing market, I believe that it is one of the best times to be purchasing Real Estate and I do so because of the following reasons.

Interest rates are still at a low between 4.5 and 5%; this can make a mortgage payment within the comfort zone of most buyers.

Housing prices have stabilized in Northern Colo; unlike many other areas of the country, Northern Colorado did not experience a dramatic price drop in housing prices.

With few buyers and a large supply of homes on the market, this makes it a buyer’s market

Northern Colorado has many things going for it,

Quality of life,

Low crime rate,

That small town feeling with many events and destinations within a 20 to 30 minute drive.

A vacancy rate of 1 to 3 percent for rental property.

Even with the above reasons, one has to evaluate if Real Estate ownership is right for them. And that is something that has to be answered on a personal level.

As a former First Lady put it:

"The future belongs to those who believe in the beauty of their dreams."

Eleanor Roosevelt, First Lady

Wayne Folsom

Colo Real Estate Solutions