real estate: 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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real estate: Salt Lake County Rental and Vacancy Rates - 12/02/07 04:51 PM
Now Is A Good Time To Buy Rental Properties In Salt Lake
Salt Lake County Rental Rates have risen and are expected to rise again. Along with the money tightening and the endless stream of what would be first time home buyers, that enter the market every year they … (0 comments)
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real estate: 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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real estate: 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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real estate: 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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real estate: 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 … (4 comments)
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real estate: Hotsheet for Sellers - 11/06/07 06:17 PM
We all have the tools to allow buyer's to get updates of new listings either when they come on the market or at leas on a daily basis. I know in my MLS it is called the Auto Hotsheet. It will send new listings or if any property went under contract, closed, … (8 comments)
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real estate: Run Don’t Walk To Magna The Last Affordable Frontier In Salt Lake County - 11/05/07 05:56 PM
Run Don't Walk To Magna The Last Affordable Frontier In Salt Lake County
Magna is located right off of highway 201 and you can be down town Salt Lake City in 15 minutes and to the airport in 10 minutes easy.
Magna is little town that is different than most Salt Lake City … (1 comments)
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real estate: Remodeling? Make sure you are covered - 11/05/07 05:53 PM
I asked Kirk Chester my insurance agent, what happens when people remodel, what does that do for their insurance? He sent me an interesting article.
I will find out about all the equity increse we have experienced over the last few years.
The National Association of Home Builders Estimates that 26 million homes are … (0 comments)
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real estate: Why Is There A Lot Of Remodeling Going On In The City of Cottonwood Heights? - 11/05/07 05:49 PM
Why There Is A Lot Of Remodeling Going On In Cottonwood Heights (84121)*?The prices have gone up so much in the last three - four years that selling and replacing the house is not much of an option.The average Sq Ft price in September 2004 was $94 and has gone … (0 comments)
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real estate: Money Laundering or Assistance - 11/04/07 08:44 AM
Below is an update on the Down Payment Assistance Front. Recently HUD stated that they were going to do away with the DPA. A DPA is where a seller contributes 3% of the purchase price plus an administration fee to the DPA and the DPA will gift the buyer the down … (5 comments)
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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: Monopoly, Birthday and Christmas - 10/18/07 04:46 PM
I have always loved the game monopoly. Being in the Real Estate Industry for some time has brought me to appreciate it more and I like to play with my children. I want them to learn Real Estate from a very early age.
I have always liked the movie A Christmas … (2 comments)
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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: Let's All Congratulate Active Rains Missy Caulk - 10/09/07 06:21 AM
Hi All,
Missy Caulk has been named in the top 12 woman bloggers by SELLSIUS. along with some other familiar names in the blogging world.
So let's honor Missy here and say congratulations and let people know how she may have helped you along the way.
For me personally she has just stopped … (1 comments)
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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: 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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real estate: Did You Know That FHA Does Not Use FICO Scores? - 10/08/07 09:01 PM
Yep it's true.
FHA is NOT based on your FICO Score.
Before you decide to stop paying all your bills and then apply for an FHA loan, that's not what it meant.
FHA is still based on credit history just not the way the credit bureaus report it. Typically a low score is based … (0 comments)
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real estate: 362,790 Reasons FHA Is Roaring Back To Life In Salt Lake County - 09/16/07 10:55 PM
362,790 Reasons FHA Is Roaring Back To Life In Salt Lake County
For the last few years people used conventional loans, (actually non government loans is a better description, some of them were not conventional) to buy homes. FHA was almost non existent and most lenders and most agents have not done … (0 comments)
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real estate: 26 Ways the Yellow Pages Can Help Your Business, No Really - 09/15/07 01:33 PM
26 Ways the Yellow Pages Can Help Your Business, No Really
We all know that for most Realtors that the lion's share of their business comes from marketing to their Sphere of Influence to get Repeat Business and Referrals. The idea for an agent to advertise in the Yellow Pages is absurd, … (7 comments)
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real estate: How Your Deadlines Can Help or Hurt You When Making an Offer In The Salt Lake Market - 09/14/07 08:40 PM
How Your Deadlines Can Help or Hurt You When Making an Offer In The Salt Lake Market
When making an offer to purchase a home using the Standard Salt Lake Board of Realtors Real Estate Purchase Contract "REPC" pronounced rep see. There are task that the buyer and seller have to do to help … (0 comments)
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real estate: Why Would I Want To PAy An HOA Fee On A Salt Lake Condo? - 09/13/07 05:03 PM
Why Would I Want To Pay A Home Owners Fee For A Salt Lake Condo?
In my career I hear this a lot about condominiums. People often object to Home Owner Association Dues known as HOA fees. I found that most people don't really know what they really are and why you pay … (1 comments)
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real estate: Salt Lake County's City of Cottonwood Heights Makes MONEY Mag Top 100 Best Place To Live - 09/13/07 04:53 PM
2 Years Old and in the Top 100 Cities, Cottonwood Heights A Salt Lake City Suburb RocksCottonwood Heights the City Between the Canyons is the newest city in Salt Lake County. Was just recently named by MONEY Magazine as one of the top 100 Places to live in the entire … (2 comments)
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real estate: Realtors what's in a word? - 09/07/07 07:43 AM
Listening to Earl Nightingale he talks about vocabulary and language. He claims the only direct correlation to making money is vocabulary. Not education, not geography, not your bloodline, but vocabulary. Although those items may lend themselves to some successes, they are not the direct connection.
He states, that you can dress … (7 comments)
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real estate: Free Information Good or Bad for the Realtor - 09/05/07 10:00 PM
I think technology is a tool and will change things. However as more and more information is available the value of a Real Estate Professional becomes more important.
Remember when interest rates were posted and they were good for the day even two. Remember when you had an offer and there were … (3 comments)
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real estate: Discount is not a bad word - 09/04/07 02:21 PM
Discount is not a bad word
Why do people go to places like Costco or Sam's Club? To save money, they get a discount. I shop Costco and I appreciate the prices I get there. So the word discount is not a bad word except to the Real Estate and Lending … (6 comments)
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real estate: Reverse Offers - 09/01/07 02:51 AM
With inventory starting to accumulate in the higher prices. A technique that could help sell is called a reverse offer. If you have a buyer that has come back for a second look. Prepare a written offer of your rock bottom line including any concessions any personal property and present it … (5 comments)
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real estate: Governments Double Edge Sword - 09/01/07 02:48 AM
Regarding the Federal Goernments FHA Secure Program
A double edge sword for the gov.if they do nothing and the economy foils (which I am a big fan of free market playing itself out) then more money could be lost for everyone.
if the gov helps, and the economy moves along then everyone has … (2 comments)
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