buying: 5.75 Reasons To Buy A Home Now - 01/06/08 11:32 AM
Is This A Good Time To Buy A Home?
Let's Take a Look at the Facts
Interest Rates Are 5.75% (depending on credit score)
Inventory is Ripe
Unemployment is Low
There Are Deals To Be Made
Stop listening to the media.
Dave Fox of KUTV News was involved in a … (4 comments)
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buying: More Reasons For Salt lake Home Buyers To Use FHA - 12/15/07 11:47 AM
Banging On My FHA Drum Again
There have been a couple of changes recently in the lending arena, Fannie Mae and Freddie Mac have added a new risk assessment fee and they are adding "delivery fees"
First let's look at the risk assessment fee for those buying with a … (0 comments)
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buying: Mortgage Rates In Salt Lake City - 12/15/07 11:43 AM
Rates have gone up a little in the last week, or should I say last rates dipped a little below six. There are deals out there.
Conforming mortgage rates mentioned below are considered with loan amounts up to $417,000 for a single family residence and is owner occupied. It is with proving … (0 comments)
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buying: Seller’s Property Condition Disclosure - 12/08/07 07:49 PM
One of the documents used in selling a home is the Seller's Property Condition Disclosure.
Seller is obligated under law to disclose to buyers defects in the property known to seller that materially and adversely affect the value of the property that cannot be discovered by a reasonable inspection by an ordinary prudent … (6 comments)
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buying: Salt Lake County Mayor Peter Corroon - 11/17/07 05:24 PM
Click Photo For Bio
I had the great pleasure of seeing Salt Lake County Mayor Peter Corroon talk at our company's quarterly meeting. Just like the counties web site says "You might be surprised at the number of services we provide. Take a look around SLCo.org to learn more about current events, … (0 comments)
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buying: Mortgage Rates In Salt Lake City - 11/16/07 04:46 PM
The new "FHASecure Progam" may be coming out soon according to my Wells Fargo Bank Lender Reps reports that I have been receiving this week.
This will be a benefit to those who have adjustable ARM mortgages that are not currently an FHA loan and the interest rate has adjusted. If your … (0 comments)
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buying: Average Home Sales For Salt Lake County - 11/15/07 11:20 PM
This graph tells some good things, the number of listings, number of sales and the average home sales for Salt Lake County by quarters.
Number of listings shown by the green line has maintained a pretty consistent with seasonal ups and downs, till 3rd quarter of ‘06, then the inventory started to … (0 comments)
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buying: Salt Lake Real Estate Absorption Rate - 11/14/07 08:44 AM
Here is the absorption rate for Salt Lake County.
We have segments that are not moving.
To understand the Absorption rate, you simply divided the number of active listings by the number of homes that have sold in the previous month.
The key is, the ones that are priced right are selling and the rest … (0 comments)
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buying: How To Evaluate An Income Property - 11/11/07 07:46 PM
Cap Rate
We hear many different ways to evaluate rental property. The one method that is the most effective is called the Capitalization Rate, affectionately called the Cap Rate.
I have heard many variations of the cap rate, things like 100 times the rent. That is called the rent multiplier, takes the rent … (1 comments)
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buying: Salt Lake Real Estate Market's Dirty Laundry - 11/10/07 10:20 AM
Is the Salt Lake Real Estate Market Good Or Bad? The answer is Yes.
I figured since people insist on getting their Real Estate News from TV Reporters I figure I might as well stop fighting it and give it to them that way. So this morning my daughter and I had … (0 comments)
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buying: Mortgage Rates In Salt Lake City - 11/09/07 09:26 PM
The Federal government lowered Prime interest rates to 4.5%. This is an interest rate that is directly related with 2nd mortgages, car loans, credit cards etc.
There is talk of another decrease next month that will lower prime to 4.25%. A lot of people do get confused and think that is the … (0 comments)
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buying: 3 Most Imprtant Things For Selling A Home - 11/04/07 08:37 AM
The three most important factors when selling a home in a NON-seller's market are price, condition and a modern day highly trained real estate agent.
Now that the market in Salt Lake has shifted from a red hot screaming seller's market to a broad market, seller's now have to deal with competition. … (6 comments)
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buying: Rates In Salt Lake City - 10/27/07 04:51 PM
Rates have had some improvements over the last week. It is a great time to do buy or refinance your loans now.
Conforming mortgage rates mentioned below are considered with loan amounts up to $417,000 for a single family residence and is owner occupied. It is with proving your income and a … (0 comments)
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buying: Salt Lake Tribune Newspaper Or Tabloid - 10/24/07 11:04 PM
Is this a silly picture I found or a resume of a Salt Lake Tribune Real Estate Reporter? With Utah's unemployment being below 3% for a year and under 4% for two years, the tribune is feeling it too.
The story's headline, which said, "Utah's housing boom now a bust," was misleading … (2 comments)
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buying: 8 Reasons Why You Should Use An FHA Approved Lender - 10/22/07 05:18 PM
8 Reasons Why You Should Use An FHA Approved Lender
1. FHA Approved Lender Can Offer You Conventional Products, But A Non FHA Approved Lender Cannot Offer You FHA 2. FHA Approved Lender Has To Have A $250,000 Net Worth, 20% Has To Be Liquid 3. FHA Approved Lender Has To Have … (1 comments)
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buying: When Buying A Home, Should I Get A Home Warranty? - 10/20/07 10:56 PM
Home Warranty 101
A Home Warranty is an insurance policy against mechanical defects of the home. If a mechanical item breaks down the home owner then calls the Home Warranty Company. The company then sends out a technician to look at the defects. The home owner will pay a $55 deductible and … (1 comments)
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buying: Things You Need To Know When Buying A Home - 10/17/07 08:31 AM
The Basic Process Of Buying A Home Well the first one seems to obvious but it starts here. The decision to buy a home.
There are many reasons to buy a home, the two most common.
Investment (read Homeownership As A Savings Plan).Security Knowing you have a place that is yours and can … (2 comments)
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buying: Property Appraisal - 10/17/07 08:23 AM
The Bank Qualifying The Property
As I mentioned in Things You Need To Know When Buying A Home the Bank qualifies the borrower AND the property. Let's talk about qualifying the property, for the most part it means an appraisal. When you are borrowing money the bank will require it. If paying … (1 comments)
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buying: 3rd Quarter Statistics For Salt Lake and Surrounding Counties - 10/17/07 08:17 AM
Average price is up in all but a few zip codes. Volume is down and days on market are up. We have cooled somewhat but we are actually in a good market. You cannot use the info of the talking heads from national TV. Why because real estate is local in nature. … (0 comments)
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buying: Why Real Estate Works - 10/13/07 08:19 AM
Here is a part of a Robert Kiyosaki newsletter someone had emailed me about 6-7 years ago, hard to remember now. I had retyped it and have it saved in a small book with other prices I will share. Obviously the principles of investing haven't changed.
Why Real Estate Works"Real estate is the … (1 comments)
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buying: Home Ownership As A Savings Plan - 10/13/07 08:09 AM
Home Ownership As A Savings Plan Home ownership is one of the things that make this country great. There are not many places on the planet you can with little or no money own land and then resell it for a profit and through proper planning not pay taxes.It serves as … (2 comments)
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buying: Important HUD ruling on FHA Down Payment Assistance - 10/10/07 06:23 PM
Important HUD ruling on FHA Down Payment Assistance:· On October 1, 2007 HUD published a final regulation that establishes that a prohibited source of down payment assistance is a payment that consists, in whole or in part, of funds provided by any of the following parties before, during, or after closing … (5 comments)
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buying: Limited Service Real Estate Brokerage May File For Bankruptcy - 10/08/07 09:32 PM
Foxtons a large 800 Pound Gorilla in the New York and New Jersey Markets.
The firm according to an article in Newsday.com announced they are releasing 350 of their 380 employees "and may be filing for bankruptcy protection in order to close the business in an orderly fashion."
In a statement, … (0 comments)
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buying: Furnace Time - 10/08/07 09:26 PM
It is that time of year again. Cold damp and the furnaces are coming on.
Change or clean your furnace filterWhen was the last time you changed or cleaned your furnace filter? Failing to check the filter regularly can be costly: dust and dirt can work their way into the blower and … (0 comments)
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buying: College Savings Plan - 10/08/07 09:20 PM
Gov. Jon Huntsman Jr. has declared September as "College Savings Month" from an article in the Salt Lake Tribune, to encourage Utahns to save for their children's education. You can get information about "The Utah Educational Savings Plan" at www.UESP.org or calling 800-418-2551.
This must be the law of attraction or something … (0 comments)
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buying: How Much Earnest Money Should I Put Down? - 10/08/07 09:17 PM
This is a really great question. I think the more you put the better.
When you are making an offer I am assuming you want to negotiate the best deal possible.
So with that said let's look at why more EM can help you. For starters, the EM goes towards your down payment … (2 comments)
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buying: Should I Sell Then Buy or Should I Buy Then Sell???? - 10/08/07 09:10 PM
Here you sit knowing that the family is moving. You, your spouse, 4 kids, a dog and a hamster. You're moving out of state and have to be there is 60 days to start working.
Do we go to the new area and start house hunting and buy a house contingent upon the … (0 comments)
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