ABC News interview with Donald Trump regarding the nations real estate market.  Sorry about the commercial in the begining:

http://abcnews.go.com/Video/playerIndex?id=5576708

Thanks Joel Carson!

You've got to watch this!  Very interesting clip by CNBC regarding the housing crisis.  You might be suprised by what he says.  Spread the word!  Less gloom and doom we hear, the quicker this market can correct itself!  Thanks Annie H. for sending this to me:

http://www.cnbc.com/id/15840232?video=780461999

Utah House For Sale

JUST LISTED!

RARE FLORENTINE VILLA's

Centerville, Utah!

If you any clients  looking to move to the Salt Lake City area please refer this listing.  Wonderful Centerville home only a 10 minute drive from downtown Salt Lake.  Twenty minutes to Salt Lake International airport. 

Live next door to HOA pool, new city park and library. 3-bed mom-in-law down with sep entrance, full laundry, kitchen with oak floors. Mstr on main. Corian counter tops, wood floors, maple cabinets. Location!Location!  Owner/agent

Here's a link to the virtual tour

Here's a link to my web site.  You can find more photos and an Internet brochure

$468,800

2005 Ivory Homes

3,535 sq feet (basement 100-percent finished

6 bedrooms / 3.5 baths

2 kitchens

2 laundry rooms

Downstairs 3-bed Mother-in-law apartment

Just a quick note letting know of a company I co-own.  We call it Text IT. Here's a sneak peak: Buyer pulls up to a lisitng, text's the house number and wham!  Back comes a message and a link to view the property!

But before you check out the site, pull out your phone and text RDEMO to 41513 and watch the demo I set up just for you! :)

Here's the web site

By Jeff Farr
Prudential Utah Real Estate

Home-price adjustments in markets around the country have opened doors of opportunity for many renters. If you are transitioning from renter to homeowner, the prospect of making such a large investment may be exciting, while at the same time overwhelming. But it doesn’t have to be. Here are six common mistakes to avoid.

1. Not understanding the homebuying process. Educate yourself. Find a homebuyer seminar that you can attend or research online. The U.S. Department of Housing and Urban Development Web site (www.hud.gov) has an entire section devoted to homebuyers with common questions of first-time homebuyers, mortgage and home-buying programs information, downloadable tools such as a wish list and home-shopping checklist, tips on selecting a real estate professional, etc. Likewise, Prudential Real Estate’s popular Web site, prudential.com/realestate, offers consumers brand-new tools for the homebuying process, such as free home environmental reports, Value Range Estimates and Property Profiles, among other resources.

2. Not asking questions. There are many facets and intricacies to the homebuying process, so although you may gain a basic knowledge, you will still have questions. Don’t hesitate to let your real estate professional know that you are new to the process. Make sure you choose a sales professional who is willing to spend time with you and walk you through the entire process. He or she will expect you to have questions at each step—from house hunting, to making an offer to the closing. Remember, this is one of the largest financial transactions of your life, so you want to have a clear understanding of what’s going on.

3. Buying on impulse. Don't feel pressured into making an offer on the first home you see. Buyers, especially first-timers, may be impressed by the first two or three homes they view. Look at a good selection. List the positives and negatives about each home. Narrow the prospects to three or four and then return for a closer look. When you decide to make a bid on a property, work with your real estate professional to get all of your questions answered before making an offer. But don't wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.

4. Looking outside your price range. Before beginning your home search, consider getting pre-qualified to so get an idea of how much you may be able to borrow. Use this information as a starting point in determining your price range. Then take into consideration other factors that will affect your monthly budget once you are a homeowner, such as property taxes, homeowners insurance, utilities, private mortgage insurance (PMI) and maintenance.

5. Not planning ahead. Think about personal changes you are planning in the next five to seven years. For instance, are you starting a family, and if so, is the home large enough and will it continue to be? If this will be a starter home or if you think you’ll be relocating in a few year, you’ll probably want to pay closer attention to appreciation and resale value. If a double-income is necessary to qualify for financing and to make your payments, do your plans foresee an income sufficient to continue making payments?

6. Failure to focus on location. Don’t just focus on the house. Examine the community. Does it suit your lifestyle? Is the area safe, well-maintained, close to work, stores and schools? Find out about zoning and what new construction is planned on vacant land in the immediate area. Also consider the property marketability when it’s time to sell.

Above all, remember knowledge is key. No question is a silly question. Your real estate professional can be an invaluable asset throughout the process. Making smart home buying decisions will make the home-buying process less scary and your first home purchase a rewarding experience.

I found a fantastic article today I wanted to share with all of you.  It was written by Dian Hymer for Inman News on Tuesday May 27, 2008...

Homes take longer to sell today than they did in 2005. This is due to a slow home-sale market that has resulted in a build-up of the inventory of unsold listings. Although there are exceptions, this situation is expected to continue until late 2008 or 2009 -- at least. What options do sellers have whose homes aren't selling quickly enough?

Read Dian's article it its entirety here

Before you start searching for your dream home, you first need to determine a price range you can afford. According to the Federal Housing Administration (FHA), depending on the consumer’s current debt ratio, most people can typically afford to pay 31 percent of their gross monthly income for mortgage payments. For example, if you earn $50,000 annually, then your monthly income is about $4,167. Thirty-one percent of that is $1,292.

There are several online tools to calculate a monthly mortgage you can afford using factors such as your current monthly expenses, down payment and the interest rate. You can also work with a lender to get pre-qualified for a loan. This estimate will help you gauge how much money you may be able to borrow and the monthly mortgage payments.

However, the amount you are able to afford for a home loan should not be your only consideration for determining your price range. With homeownership come other housing expenses.

Utilities

The most obvious of additional housing expenses are utilities—gas, electricity and water. But don't forget about telephone, trash collection, and cable or satellite bills.

Taxes

As a property owner, you are responsible for property taxes. The rate will vary from city to city. In our community, the tax rate is (6.6%) percent. That means for a home with a market value of $200,000, yearly taxes will run ($13,200). To get a general idea on how much the tax bill will be for a property, ask the seller for a copy of the previous year's tax assessment. Your real estate professional can help you refine these figures.

Association Dues

Another cost you may incur is homeowner association (HOA) dues. Most condominiums and some (residential developments/subdivisions/neighborhoods) have HOAs, which are legal entities, created to maintain common areas and enforce deed restrictions. As a property owner, you are required to pay the established monthly or annual homeowner association dues. Be sure you factor this cost into your budget.

Maintenance

You also need to consider the upkeep of your home. You should budget for seasonal maintenance such as lawn care, pest inspections and carpet cleaning, as well as unexpected repairs. The amount you budget will depend on the age of the home, as older homes tend to require more repairs such as installing a new roof, painting and replacing older appliances.

Insurance

Depending on the type of coverage and your area, the costs for homeowners insurance each year can be anywhere from a few hundred to thousands of dollars. And, if you live in an area that has high risks for flooding, earthquakes, hurricanes, etc., you may need supplemental insurance.

Remodeling/Upgrades

Unless the home you purchase is picture perfect, you’ll more than likely be adding your personal touch. Therefore, you need add to your housing budget the costs for remodeling and upgrades. According to “Remodeling Magazine’s” 2007 Cost vs. Value Report, the national average for a midrange minor kitchen remodel is $21,185; a bathroom remodel averages $15,789.

Even minor cosmetic fix-ups such as light fixtures, window treatments, carpeting and decorative cabinet knobs can begin to add up.

By determining all the costs associated with homeownership, you can go into your home search with a reasonable price range that will allow you stay within your budget.

People always ask me, what's the housing market doing?  Why is it in this downturn?  Why isn't my house selling?  When will it come back?  For answers to these questions, I've found a easy to understand video by John Burns, a real estate consultant.  It explains everything with a historical perspective.  Click the link below and learn more about our housing market and what to expect in the near future.

Have a great day!!

Click HERE!

MUST SELL SITUATION

Large condo in the heart of Murray/Midvale. Orig Owner. New flooring, carpet and paint. Two fireplaces. Lots of room to grow. Private, oversized backyard with custom Trex deck. Maintenance free yard! Pool and clubhouse. In the heart of Union Park -  Must see! Close to hospital and schools. Ten minutes to the Salt Lake International Airport. Virtualy no maintenance.

$249,900

2,479 sq feet
4 bed / 3 bath
Jetted tub in master
Bay/box window
22' ceilings
Larger than normal back yard
Custom Trex deck
2-car garage
Two kitchen pantries
Mature trees
Clean, clean, clean!
HOA of $170 monthly includes:
Expanded basic cable T.V.
Swimming pool
Clubhouse
Sewer
Yard maintenance
Snow removal
Exterior car and repair
Garbage removal

Make sure you check out the virtual tour and many more pics at http://www.JeffWillSellit.com

Hello!  I wanted to plug a new listing I have in Syracuse.  Today we had the local Davis County Realtor tour.  This 5,200 sqare foot house was one of two I had on the tour.  the agents who toured this home overall think its a great house in a great neighborhood with a fair price at $519,000.  Make sure you check out the virtual tour on my web site : http://www.jeffwillsellit.com/.  -Jeff

Here are some of the specs:

Wonderful formal entry with dark hickory floors leads to a romantic hickory staircase.  Large formal dining and front room.  Lots of light. Cherry cabinets in kitchen with stainless steel appliances and upgraded granite.  Etched glass pantry doors.  Huge master suite with fireplace and balcony. Upgraded fixtures. Watch the main fireplace from the kitchen or family room.

Stately 2 story, formal dining, formal living, see-through main fireplace, cherry wood and granite kitchen, 22 foot ceilings, dark hickory wood floors, fireplace and balcony in master suite, high end granite on all countertops, upstairs laundry, oversized garage, large deck patio and balcony.