**Greetings from Branon Edwards and Jelena Panfilova
from Coldwell Banker in sunny Florida!

The last few months have obviously been pretty amazing here in Florida. Hu=
rricanes
Charley, Frances,Ivan, and Jeanne have all made their presences known acros=
s the state.
Luckily, we have so far been spared anything other than some minor inconven=
iences here
in the Miami area. Our hearts go out to our friends and family across the =
USA who have
been affected by these storms.

As promised, our September Newsletter focuses on the mystical Credit Score,=
thanks to
Coldwell Banker Mortgage's Mike Lutz and MSN MoneyCentral's Liz Pulliam Wes=
ton. This
newsletter will give you a basic overview of where credit scores came from =
and how they
work. Our October newsletter will debunk some of the most common myths abou=
t credit
scores and what you can do to better them.

You may have noticed that Long Term Rates (30-year fixed, 15-year fixed) ha=
ve been
dropping while the short term rates (programs like the 3/1, 5/1, 7/1, 10/1 =
ARMs) have
been increasing. 30-year fixed rate mortgage rates have dipped back to the =
high 5s. And
it appears that over the next couple weeks there may be little difference i=
n rate between a
short term rate versus a 30-year fixed program.

SPECIAL THANKS to all our customers who referred business to us in July and=
August.

Thanks to you, we were named TOP REFERRING AGENTS in our Key Biscayne offic=
e for the
4th month in a row! We were also named one of the top referring agent team=
s in the State
of Florida!

THANK YOU!!

------------------------------------------------
LISTINGS

LAST MINUTE PRECONSTRUCTION DEAL:
Available Immediately at Original Developer Price of $354,900 - contract fo=
r The Plaza on
Brickell for a 12th Floor 2-bedroom/2-bath condo with a Northern Exposure a=
nd partial
bay views, approximately 1200 sq ft + 120 sq ft balcony. Project is SOLD OU=
T, but this
contract just opened up. Last chance to get a unit at The Plaza! CALL US f=
or details.
http://www.InvestFloridaRealty.com/preconstruction/theplaza.htm

FOR RENT:
Beachfront Penthouse on Hallandale Beach with fantastic direct ocean and in=
tracoastal
views. Washer/dryer included, gym, pool/spa, tennis, private beach access, =
24-hour
security and valet, plus secure covered parking. Available unfurnished for=
$2900/month.
Did we mention the direct ocean view?!
http://www.InvestFloridaRealty.com/rental/hallandale-beach.htm

FOR SALE:
Preconstruction resale in Ocean 4. Spacious 2-bedroom/2-bath/2-balcony E fl=
oorplan
with direct West intracoastal view. 15th Floor for $625,000 (REDUCED). 11=
th floor for
$600,000.
http://www.InvestFloridaRealty.com/preconstruction/ocean4-1506.htm

VACANT LAND:
Punta Gorda Isles sailboat access building lot - almost 1/2 acre with room =
to spare in
exclusive Punta Gorda Isles. 50-feet of seawall and a brand new boat dock w=
ith direct Gulf
access and sailboat water. One of the last large waterfront lots in the are=
a. Priced to sell at
just $899,000.
http://www.investfloridarealty.com/listings/pgi.htm

Vacant building lot opportunities in Ocala, Florida with prices from $15,00=
0.
http://www.investfloridarealty.com/listings/ocala.htm
------------------------------------------------

NEW DEVELOPMENT ALERT - AXIS AT BRICKELL VILLAGE

Prices from the $190,000s

This new preconstruction highrise project will be located in Downtown Miami=
and will
feature 2 residential towers with ground floor retail space. Pricing is ver=
y attractive and we
are currently taking reservations! http://www.InvestFloridaRealty.com/prec=
onstruction/
axis.htm

------------------------------------------------

FICO SCORES

FICO® scores were developed by Fair Isaac & Company, Inc. for each of the c=
redit
repositories. The scores are: (Equifax) Beacon®, (Experian formerly TRW) Ex=
perian/FICO
and (TransUnion) Empirica®. They are simply repository scores meaning they =
only
consider the information contained in a person's credit file; they do not c=
onsider a persons
income, savings or amount of a down payment for a mortgage.

The scores were designed to assess risk. They are useful in directing appli=
cations to
specific loan programs and to set levels of underwriting, i.e. streamline, =
traditional or
second review. The scores are objective, consistent, accurate and fast.

Many people in the mortgage business are skeptical about the accuracy of FI=
CO scores.
Scoring has only been an integral part of the mortgage process in the past =
few years;
however, the scores have been in use since the 1950's by retail merchants, =
credit card
companies, insurance companies and banks for consumer lending.

---------------------------------------------------------
WE ARE CURRENTLY ACCEPTING NEW PROPERTY LISTINGS! 
Thinking about selling your property? Now is a great time to get top dollar=
!

Check out our Written Seller's Guarantee:
http://www.InvestFloridaRealty.com/guarantee.htm
---------------------------------------------------------

The data from large scoring projects emphasizes the accuracy, the predictiv=
e quality of the
scores. Large portfolios have been scored for mortgage servicing and invest=
ment groups,
and again, they demonstrate that FICO scores work. The scores were develope=
d from each
repository's database using actual loan performance. A sample of over 750,0=
00 consumers
per repository was used. The repositories have each made great strides to i=
ncrease the
accuracy of their respective database through computer technology and inter=
nal
monitoring. There is a new standard reporting format for credit grantors to=
use when
sending electronic information to the repositories; this is the critical fi=
rst step to providing
accurate data.

The scores use a multiple scorecard design. Each repository uses 10 individ=
ual scorecards,
and the models at each repository are the same. This increases accuracy and=
optimizes the
predictive variables for each subpopulation. (For example, a borrower with =
two 30-day late
payments will be scored against a population with some minor delinquencies.=
) This feature
may cause a borrower with delinquencies to score in the same range as a bor=
rower without
delinquencies. Scorecards are reviewed and updated every twenty-four months=
.

------------------------------------------------
FEATURED PRECONSTRUCTION PROJECTS

Axis at Brickell Village (from $190,000)
http://www.InvestFloridaRealty.com/preconstruction/axis.htm

The Venture at Aventura (from $249,000)
http://www.InvestFloridaRealty.com/preconstruction/venture.htm

Everglades on the Bay (from $278,000)
North Tower Available NOW!
http://www.InvestFloridaRealty.com/preconstruction/everglades.htm
------------------------------------------------

The actual scoring process is proprietary, and the algorithms are copyright=
ed. We can
share the predictive variables, the portion of the credit file considered a=
nd the weight as
provided by Fair Isaac.

They are:

-Previous credit performance (35%)
Trade line information specific to payment history

-Current level of indebtedness (30%)
Current balance compared to the high credit

-Time credit has been in use (15%)
Opening date

-Types of credit available (15%)
Installment loans, revolving accounts, debit accounts

-Pursuit of new credit (less than 5%)

Inquiries
FICO has changed the way it factors credit checks or inquiries. These chang=
es should
minimize the "negative" effects that aggressive rate shopping or the normal=
mortgage
process can have on a mortgage applicant. In the new Beacon version, the de=
-duping
process has been expanded beyond seven days. One variable counts the number=
of days
within 365 days of scoring. If there has not been an inquiry, the de-duping=
mechanism is
not activated. If there is a consumer originated inquiry within the past 36=
5 days from
mortgage or auto related industries, these inquiries are ignored for the fi=
rst 30 calendar
days from scoring; then, multiple inquiries within the next 14 days are cou=
nted as one.
Each inquiry will still appear on the credit report.

---------------------------------------------------------
Are you or anyone you know thinking about buying or selling?

We consider referrals to be the most sincere compliment
that our customers can give us.

Check out our Written Seller's Guarantee:
http://www.InvestFloridaRealty.com/guarantee.htm

Is your house a TALKING HOUSE?
(if we're your Realtors, then it would be - FREE)
http://www.MiamiTalkingHouse.com
---------------------------------------------------------

Scores should not change significantly because the variable in the model us=
ing inquiries
contributes less than 5% of the predictive power of the model. According to=
Equifax
statisticians, an average of 5% of the credit reports in the Equifax consum=
er credit
reporting database (over 200 million consumer files) will see a change in s=
core due to this.
Fewer than 5% of those will see a change significant enough to effect a loa=
n decision.

In order to get a score a borrower must have the following conditions in hi=
s/her file:
-No "Deceased" indicator on the credit file

-At least one undisputed trade line that has been updated in the last six m=
onths

-One trade line open at least six months

Scores range from 350 (high risk) to 950 (low risk). A scorecard of 660 wil=
l be 660 on
Beacon 96, Empirica and Experian/FICO if the data on each file is the same.=
However, each
repository is likely to contain different data.

---------------------------------------------------------
Live in Miami-Dade or Broward County?
Thinking about selling your House?

Contact us for a FREE Video about selling your home.
mailto:branon@...?subject=TALKINGHOUSE-FREEVIDEO
---------------------------------------------------------

Every score is accompanied by a maximum of four reason codes. Reason codes =
identify the
most significant reason that a consumer did not score higher. They are not =
red flags.
Consumers with scores in the 800 range get reason codes just as consumers w=
ith scores
in the 500 range. The reason codes may be used in describing to the consume=
r the reason
for adverse action.

Scores are not part of the credit file and are not covered by the Fair Cred=
it Reporting Act.
Scores, if disclosed to the consumer, must be related to the credit file - =
using the reason
codes - since the score has no meaning in itself; the meaning or risk level=
is assigned by
the lender and the investor. When applicants have erroneous information rep=
orted,
document the inaccuracies. The easiest way to do that is to have your credi=
t-reporting
agency upgrade the merged in-file to an edited mid-range report or to a Res=
idential
Mortgage Credit Report.

As always, thank you for the opportunity to earn your business. We look fo=
rward to
hearing from you.

All the best,

--Branon A. Edwards, Licensed Florida Realtor®
--Jelena Panfilova, Licensed Florida Real Estate Agent

Branon Direct: 786-417-4910
mailto:Branon@...

Jelena Direct: 786-417-4911
mailto:Jelena@...

Our Private Fax: 786-524-5747

VISIT OUR WEBSITE:
http://www.InvestFloridaRealty.com

---- Office Information ----

Coldwell Banker® Residential Real Estate, Inc.
328 Crandon Blvd, Suite 127
Key Biscayne, FL 33149 USA

Is Your House a TALKING HOUSE?
http://www.MiamiTalkingHouse.com