utah: Mortgage Shopping Will Soon be a Lot Less Complicated - 11/10/09 07:11 PM
Mortgage shopping will soon be a lot less complicated.
RESPA Reform takes effect on January 1, 2010. While still not perfect, the changes do simplify the ability to compare loan offerings between lenders. The goal was to simplify and improve disclosure requirements for mortgage settlement costs under RESPA. My analysis: … (3 comments)
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utah: Glut of Overpriced Homes Hurts Everyone - 06/29/09 01:39 AM
People who don't really need to sell their home should not put them on the market at ridiculously high prices.
Prices don't go up 20% just because Sellers LIST their homes at 120% or more of market value. In order for prices to stabilize and/or improve, inventory levels need to … (0 comments)
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utah: RE BarCamp - You will leave wanting more! - 05/08/09 06:24 PM
RE BarCamp is a fabulous FREE day of sharing and learning.
What makes a BarCamp the best event you'll attend this year? YOU set the agenda. YOU come to learn and to share only the things YOU are interested in!
The main focus of the Salt Lake BarCamp on June … (5 comments)
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utah: 5 Reasons Utah is Weathering the Economic Storm - 04/13/09 02:19 PM
A recent ABC4 news report points out some reasons why Utah is weathering the economic storm better than other states. Diversification seemed to be the main theme. All of Utah's eggs aren't in one basket.
Here are 5 of the examples given:
International Exports
Tourism
Alternative Energy Research & Development
Technology … (1 comments)
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utah: Owning Becomes More Attractive as Rent's Rise, Home Prices and Interest Rates Fall - 04/10/09 01:48 AM
Demand for rental homes and units in many parts of the country is on the rise as many homeowners who are unable to refinance their mortgages to today's lower rates because their property values have declined have sold their homes "short" or left them altogether after foreclosure. Increased restrictions for obtaining … (1 comments)
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utah: Utah Once Again Nations "Best State" to Live - 03/23/09 01:11 PM
Utah once again ranked as the Best State to live in overall based on a Forbes.com report of a recent Gallup-Healthways poll.
Utah ranked first for both Well-Being and Work Quality, and ranked second for Life Evaluation. It also ranked in the top 10 for Physical Health, Emotional Health and Basic … (1 comments)
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utah: Home Buyers in Sandy, Utah Value Having an Agent on Their Side - 03/12/09 08:29 PM
We recently purchased our first home in the Salt Lake area. In choosing a realtor, we considered several options, but ultimately chose to work with Benjamin Clark based on positive recommendations we'd received.
We weren't very familiar with the concept of an Exclusive Buyer's Agent (EBA) at the outset, but during … (2 comments)
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utah: Think the Seller Pays the Real Estate Fees? Think Again! - 02/25/09 06:27 PM
Most Buyers are told that the Seller pays all the real estate fees. This is not exactly true.
That the Seller pays the fees is semantics. Your cash (or loan) to buy the home is what gives the Seller the proceeds with which to pay their agent and other settlement fees. … (3 comments)
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utah: Key Details of the $8,000 Federal Tax Credit for Salt Lake City, Utah Area Homebuyers - 02/19/09 01:18 PM
Key Details of the $8,000 Federal Tax Credit for Utah Homebuyers
Buy a home between January 1, 2009 and December 1, 2009.
Get $8,000 Federal Tax Credit when you file your 2009 Tax Return (or sooner, see below).
This does not have to be repaid. (UNLESS: You sell the home within … (9 comments)
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utah: First Time Home Buyers Recommend Hiring a Broker on Your Side - 01/31/09 12:29 AM
My wife and I were looking to buy our first home. We knew the area we were interested in and that was about it.
My wife read about real estate brokers and how they are able to represent the buyer which led us to Ben. Right from the start he was … (4 comments)
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utah: Homebuyer Representation, Inc. - The Homebuyer's "Best Choice in Utah" - 11/15/08 11:56 PM
Homebuyer Representation, Inc. was recently named the "Best Choice in Utah" by NAEBA's Consumer Inquiry Program.
NAEBA is the National Association of Exclusive Buyer Agents and the Consumer Inquiry Division fields calls from Homebuyers nationwide. After research, most buyers choose to work with an Exclusive Buyer's Agent who will pledge undivided loyalty to … (0 comments)
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utah: Home Warranty Companies Affected by Slowdown: Adjusting Prices/Coverage - 10/17/08 12:01 AM
It seems that the slowdown in the real estate market has Home Warranty companies that service the Salt Lake City real estate market adjusting their premiums and coverages to keep profits up.
Over the past 45 days prices have gone up by about 18% and deductibles (service fees) are up about … (2 comments)
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utah: Real Estate Negotiation Skills a Must for All Salt Lake Area Home Buyers, Especially in the Current Market - 10/13/08 01:33 PM
SALT LAKE CITY, UTAH - Benjamin D. Clark has been awarded the Certified Negotiation Expert (CNE) designation, achieved by real estate professionals who have successfully completed formal training in the art of negotiation. Agents who receive this certification are in the top 1% of all agents nationally.
Buyer's agents with … (4 comments)
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utah: Buying "Small" in Salt Lake - 10/03/08 03:53 PM
With all the plusses that come with more square footage, the smart buyer will look at the additional costs.
Whether you are buying a home as an investment, or planning on living there a long time, there are many reasons some Buyers choose to buy "small" rather than buying "large" homes. … (3 comments)
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utah: Are Builders Partially to Blame for the Real Estate Crisis? - 10/03/08 03:20 PM
Can you blame builders for getting sucked into the hype?
When you are taking orders for homes as fast as you can build them, why not decide to build a ton of "spec" homes?
Still, builders should have seen an end coming at some point, and those who did, planned accordingly … (1 comments)
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utah: Are Downpayment Assistance Programs Bad? - 10/03/08 02:49 PM
So were (are?) Downpayment Assistance Programs bad?
I don't think DAPs are bad in and of themselves.
But coupled with additional items from the lender's bags-of-tricks, they likely contributed to a number of defaulted mortgages, including some that will continue to default as adjustment dates and balloons come due.
(Click Here … (0 comments)
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utah: Downpayment Assistance Programs (DAPs) or, The "Money-Go-Round" - 10/03/08 02:37 PM
Downpayment Assistance Programs are being allowed less and less. One "stated" reason is that they likely helped contribute to the breakdown of the real estate market.
Here's how a downpayment assistance program (DAP) usually worked:
The Seller would give 3% plus some "administration fee"...
(sometimes 1% of the Purchase Price)
… (0 comments)
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utah: Military Family Relocating to Utah Benefits by Hiring an Exclusive Buyer's Agent - 09/21/08 01:01 AM
Our family was relocating to Utah after 5 years in Japan. Although we had done lots of internet searching for houses we really had no idea as to neighborhoods, schools, shopping, etc. The "house hunting" experience was old even before we left Japan.
In doing our initial research into rates, … (0 comments)
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utah: Provo-Orem and Salt Lake City, UT at top of 2008 Best Performing Cities Index - 09/15/08 04:19 PM
The Milken Institute ranks metropolitan areas by how well they create and sustain jobs, wages and salaries and technology.
Their report, dated September 10, 2008 shows Utah's Largest Metro Areas strong atop the list of over 200 Large Metropolitain areas nationally.
Provo-Orem comes in at #1 with Salt Lake City at … (0 comments)
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utah: Why fewer housing starts in Salt Lake is a good thing. - 08/19/08 09:44 PM
I know you know this, and I know this, but the media doesn't seem to get this...
Fewer housing starts are a good thing!
(Well, at least for now.)
Remember how builders overbuilt and there was a glut of inventory on the marketplace?
Remember how builders were offering the craziest incentives … (1 comments)
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