Utah County Homes for Sale - Negotiating - 10/31/10 10:09 AM
Utah County Homes for Sale - Negotiating
When it comes to time to negotiate a real estate transaction, some interesting dynamics take place. Obviously the Seller wants the most money they can get for their home. The Buyer wants the most home for the least amount of money. This is a crucial time to have a professional on your side, who knows and understands how the process works. There is not a right or a wrong way to proceed, but it does involve a lot of give and take. The party with the stronger alternative usually gets more, but a successful negotiation happens when both … (0 comments)
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Utah County Homes for Sale - Sell before you Buy - 10/30/10 09:59 AM
Utah County Homes for Sale - Sell before you Buy
When it comes time to purchase a new home, the question always comes up, should I sell my old home before I buy the new one? Depending on your credit situation and your ability to qualify for two loans, this question could be easily resolved. We will assume you have excellent credit and can do whatever you please.
It is always better to have your present home sold before you make an offer on the new home. If you have an offer with a contingency of selling the old home, the … (0 comments)
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Utah County Homes for Sale - Home Buyers Beware (BAC) - 10/29/10 10:53 AM
Utah County Homes for Sale - Home Buyers Beware (BAC)
One of the most often used marketing tricks that Listing agents use to attract home buyers is a Buyer Agent Commission (BAC) that is larger than what is generally offered. Generally speaking most home sellers offer a commission of 6 percent to the agents that assist to sell their homes. Half of the commission or 3 percent goes to the agent that listed the home for sale. The other 3 percent goes to the agent who represents the buyer in the transaction. By offering an inflated BAC, the listing agent is … (0 comments)
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Utah County Homes for Sale - Foreclosures, Bank Owned and Short Sales - 10/28/10 10:40 AM
Utah County Homes for Sale - Foreclosures, Bank Owned and Short Sales
Properties that are in distress usually are referred to as Foreclosures. Foreclosure usually happens for a number of different reasons. Few home owners choose to go into foreclosure voluntarily. It is often a result of one of the following:
• Loss of Job, laid-off, fired or just quit.
• Unable to work due to medical condition.
• Divorce
• Job transfer
• High debt, unable to make mortgage payments
Foreclosure property can be distributed to the public in a number of different ways. The first step usually takes place … (0 comments)
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Utah County Homes for Sale - Motivated Seller - 10/27/10 10:24 AM
Utah County Homes for Sale - Seller Motivated
When looking for homes for my buyer clients, I have found that the Seller's Motivation can have a dramatic affect on the price of the home. The most common "Motivated Seller" is someone who has already bought his or her next home or is relocating to a new area. They will be under the gun to sell the home quickly or face the prospect of making two mortgage payments at the same time. Since that can drain a bank quickly, most sellers want to avoid such a situation and may be willing to … (0 comments)
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Utah County Homes for Sale - Contingencies - 10/26/10 09:58 AM
Utah County Homes for Sale - Contingencies
When it comes time to make an offer on your new home, occasionally there are a few obstacles that make it difficult. It is sometimes hard to discover all the potential problems that might go wrong, but you might want to anticipate some so that you can cancel the contract without penalty. These are called "contingencies and you must make sure to include them when you offer to buy a home.
One of the more popular contingencies is having to sell a previous home before purchasing a home. Making the closing the sale of … (0 comments)
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Utah County Homes for Sale - Final Walk through Inspection - 10/25/10 10:17 AM
Utah County Homes for Sale - Final Walk through Inspection
The final step in the purchase process prior to closing is the Final Walk through Inspection. Every home buyer should revisit the property to ensure it is in the condition you required in your offer, and to inspect that any required repairs have been performed. Final inspection should be no sooner than five days before you intend to close. Make sure this right to do a final inspection is included in your offer to purchase.
Search Utah MLS Listings - Utah's Finest MLS Home Search, Utah County's Exclusive Home Buyer Service … (0 comments)
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Utah County Homes for Sale - Home Warranty - 10/24/10 10:22 AM
Utah County Homes for Sale - Home Warranty
As a Realtor who represents the Home Buyer, I have found through the years, the Home Warranty to be a very important factor in the home purchase process. The last thing a new home buyer wants to worry about after closing is the possibility of something breaking down. There are many things that could go wrong, for peace of mind; it would be a good idea to get a home protection plan. I believe it is especially important for First-time home buyers, with little experience maintaining a home.
Generally the Seller pays for … (0 comments)
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Utah County Homes for Sale - Did you find the Home you wanted? - 10/23/10 10:02 AM
Utah County Homes for Sale - Did you find the Home you wanted?
When you first start shopping for a new home, usually you begin with a list of things that you must have. Many times after you purchase your new home you find that your wish list of features did not quite add up to what you originally wanted.
Most usually want basically the same house. It might include 1200 - 1500 sq. ft., built within the last 5 years, open floor plan and vaulted ceilings. Laundry Room on the first floor, garage, basement, Master Bedroom with a garden tub, … (0 comments)
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Utah County Homes for Sale - The Right Home for You - 10/22/10 10:02 AM
Utah County Homes for Sale - The Right Home for You
There are a number of things to consider when choosing the right home and everyone's priority is different. Where should it be located; neighborhood preference; single or multi-level, number of bedrooms and baths; square footage: yard size; features: quality of school; age of home; interior or exterior appeal; and most of all, price, because if it's out of your budget, it can't be considered.
Make a List
Make a priority list of things important to you. Start with the most important, things you have to have. Then work down the … (0 comments)
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Utah Homes for Sale - Home Inspection - 10/21/10 09:34 AM
Utah Homes for Sale - Home Inspection
Well, you just made an offer on a beautiful new home. You are excited about the possibilities that this new home is going to bring to you and your family. Don't let this dream turn into a nightmare because you decided not to spend a little extra money on a Home Inspection.
A study conducted by the American Society of Home Inspectors and the NAR in 2001 found that 77% of all homebuyers insisted on a Home Inspection prior to purchasing their property, and 97% of that group believes the service was a good … (0 comments)
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Utah Homes for Sale - Home Buyer Mistakes - 10/20/10 10:47 AM
Utah Homes for Sale - Home Buyer Mistakes
Well you have finally decided that it is time to stop renting and that you need to purchase a new home. Be aware that is important to stay calm and think your way through the process; don't get so excited that you overlook a few very important steps.
Failure to get pre-qualified before making an offer on a home:
• The very first step you need to take when considering the purchase a new home is that of interviewing and hiring a Mortgage Broker or Loan Officer. Understanding how much you are qualified … (0 comments)
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Utah County Homes for Sale - Home Buyer Market - 10/19/10 09:47 AM
Utah County Homes for Sale - Home Buyer Market
Are you a present Home Buyer Candidate? How you been waiting for the perfect time to buy a home? Well your time is now, at no other time in recent memory has the real estate market been at a point where you had nothing to lose, and everything to gain. As a full-time Home Buyer Representative, I too like this kind of Home Buyer market. There are so many opportunities out there for my clients that I feel like a little kid in a candy store.
A Home Buyer market comes at a time when the … (0 comments)
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Utah County Homes for Sale - Buying Your First Home - 10/17/10 08:26 AM
Utah County Homes for Sale - Buying Your First Home
Well the time has come; you are finally out making a good living. You are beginning to get tired of paying rent, the number one advise that friends and family are giving you is, Buy a House. By this time you are about to be hitched and have probably saved enough money for a down payment. After a fair amount of thinking about it, you jump over the first hurdle and decide to go for it. Now once you are focused about what you want you then jot down a list … (0 comments)
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Utah County Homes for Sale - First Time Home Buyer - 10/16/10 11:30 AM
Utah County Homes for Sale - First Time Home Buyer
Typically a First Time Home Buyer is considered to be someone who has not had an ownership interest in a home for 3 years or more. Some home loan guidelines are longer than that.
There are many Down Payment Assistance grants, low interest loans and credit assistance programs available for First Time Home Buyers. First Time Home Buyers should consult a Mortgage and Real Estate Professional early in the home buying process to learn all they need to know about is available to them.
Several criteria are considered when evaluating the … (0 comments)
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Utah County Homes for Sale - Home Buyer Agent - 10/15/10 11:20 AM
Utah County Homes for Sale - Home Buyer Agent
As of 1994, the state of Utah authorized Buyer's Agency. In Utah County, and throughout the state, buyers can choose an agent to work exclusively on their behalf. Buyer agency benefits include:
• Buyer's agents are almost always paid out of the proceeds of the sale by the seller or builder, so we always recommend using a Realtor, as it will cost you nothing extra.
• Many people do not realize that it is advantageous to have an agent on a new home purchase as well. I have gone to bat for … (0 comments)
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Utah County Homes for Sale - Choosing a Buyer Representative - 10/14/10 10:15 AM
Utah County Homes for Sale - Choosing a Buyer Representative
When it's time to buy a home, it's also time to select a buyer agent to represent your interests in this all-important transaction. But how do you choose one? Here are some of the most significant issues to consider and questions to ask when interviewing your Accredited Buyer Representative.
Questions to ask:
Experience and Credentials
How long have you been a buyer's agent? How long have you been an Accredited Buyer Representative? What other real estate designations or credentials do you hold?
References
Can you share the names and contact details … (0 comments)
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Utah County Homes for Sale - Home Buyer Representation - 10/13/10 10:52 AM
Home Buyer Representation - Buyer Agent vs. Seller Agent
During the past 25 or so years, home buyers have been able to choose between Buyer agents or the Sellers agent representing the Seller, to buy a home from. Many buyers didn't even know that they could use a buyer agent or even if they were available. Most home buyers assumed the agent showing the home represented them. Seller agents were obligated to represent the seller's interest unless they had a separate written agreement with the buyer to represent them.
The FTC did a study of the Real Estate brokerage industry in 1983 and determined that … (0 comments)
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Utah County Homes for Sale - Foreclosure Process - 10/12/10 10:30 AM
Utah County Homes for Sale - Foreclosure Process
Is a distressed Property right for you?
Distressed sales are a sad fact of the Real Estate market. While no one wants to see a homeowner lose their home, these properties also present unique opportunities for buyers. To determine whether you are a candidate for such a purchase, it's important to learn all you can about distressed properties - and to work with qualified buyer's representative who can guide you through each step of these complex, non-traditional transactions.
Foreclosure is a process, with buying opportunities at each stage:
Stage 1. Pre-Foreclosure
A period … (0 comments)
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Utah County Homes for Sale - Renting Downside - 10/11/10 09:03 AM
Utah County Homes for Sale - Renting Downside
There are certainly some advantages and disadvantages to renting versus owning your own home. When you rent, you are normally limited on what you can do to improve your home. You have to get permission to make changes or improvement to the home. It really doesn't make sense to paint, put in new carpet, tile or window coverings when the main person who benefits is the landlord.
The landlord wants to keep expenses to a minimum and will probably not be spending much to improve the property as well. When you own the … (0 comments)
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Utah County Homes for Sale - Closing Costs - 10/10/10 08:38 AM
Utah County Homes for Sale - Closing Costs
Closing on a property is a very challenging time for a would-be homeowner. Being informed, either through your mortgage broker, Realtor, or through self knowledge is the best thing you can be when going through this procedure.
A good Realtor can help you tremendously. They should know the local market well enough to help you save money in whatever way they can. Since closing costs are handled differently in different areas, having a professional with experience in that area is your best bet. They can give you a better idea of what costs … (0 comments)
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Utah County Homes for Sale - What Can You Afford? - 10/09/10 12:32 PM
Utah County Homes for Sale - What Can You Afford?
Many factors come into play when you attempting to figure out how much you can afford in a new home. In addition to your monthly mortgage payment, there are closing costs, moving expenses, plus purchases and maintenance for the new home. The rule of thumb is generally considered, your gross income multiplied by 2.5, will give you an approximate amount for the price of home you can afford. The amount will vary depending on how much you have as a down payment, your debts, financial situation, and credit history and rating. … (1 comments)
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Utah County Homes for Sale - Good Credit - 10/08/10 10:52 AM
Utah County Homes for Sale - Good Credit
When it comes time to purchase a new home there is nothing more important than having Good Credit. The first thing a lender will do is review your credit report. The credit report is a history of money you have borrowed in the past and how you have repaid those debts. It contains a list of debts such as credit cards, car loans, and other loans. It also contains other public records such as liens or bankruptcies. Your credit report is constantly being updated and most of the information is deleted from you … (0 comments)
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Utah County Homes for Sale - Buy or Rent - 10/07/10 09:39 AM
Utah County Homes for Sale - Buy or Rent
It is pretty much common knowledge that the current housing market is in turmoil all around the world. Many couples, families and individuals who have planned to purchase homes and residential properties are putting off their plans to try and wait out the storm. But the questions continue to come up every day, Should I rent? Or Should I buy?
Since many of the homes available today are priced less costly, many factors continue to be troublesome to home buyers, including falling general property values, security and fluctuating interest rates. Due to … (1 comments)
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Utah County Homes for Sale - Improving Your Credit Score - 10/06/10 10:40 AM
Utah County Homes for Sale - Improving Your Credit Score
Generally speaking the number one criterion a Mortgage lender considers when qualifying a Home Buyer for a mortgage loan is a good Credit Score. The higher Credit Score, usually the lower the Interest Rate. Other factors are obviously considered when determining the interest rate, but all lenders look at the Credit Score first. That being said, it is very important to understand how you maintain or improve your Credit Score before applying for a Home Loan.
There are no quick fixes for improving your credit score, but you can raise your … (0 comments)
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Utah County Homes for Sale - Homeownership - Tax Savings - 10/05/10 10:39 AM
Utah County Homes for Sale - Homeownership - Tax Savings
With the Housing Market taking a tumble recently, the fact that Homeownership is still one of the best investments goes unnoticed. Income tax deductions basically allow for the Federal government to subsidize the purchase of your home. All of the interest and property taxes you pay in a given year can be deducted from your gross income to reduce your taxable income.
Property taxes are also deductible. Whatever property taxes you pay in a given year may also be deducted from your gross income, lowering your tax obligation. Remember to consult … (0 comments)
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Utah County Real Estate - Homeownership - Forced Savings - 10/04/10 10:00 AM
Utah County Homes for Sale - Homeownership - Forced SavingsOne of the really nice things about Homeownership is that it helps you by creating an automatic savings account. Many people are not very good at saving money. By owning a home you can accumulate savings in two ways. Every month a portion of your payment goes directly toward principal. Early in the mortgage very little goes to principal but over time it accelerates.
Second, your home appreciates. The average appreciation on a home is approximately 5%. Your appreciation will vary from year to year, and in some years it may even … (0 comments)
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Utah County Homes for Sale - Offer Price Factors - 10/03/10 09:09 AM
Utah County Homes for Sale - Offer Price Factors
There are many factors to consider when you are trying to determine what price to offer for a new home. Gathering and analyzing information form comparable sales helps to establish the range of prices you should consider. More weight should be given to the most recent sales of like properties in the local area. Other factors to consider include condition of the property, improvements, the current market, and the circumstances behind the seller's decision to sell.
Search Utah MLS Listings - Utah's Finest MLS Home Search, Utah County's Exclusive Home Buyer Service … (0 comments)
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Utah County Homes for Sale - Supply and Demand - 10/01/10 09:57 AM
Utah County Homes for Sale - Supply and Demand
The Supply and Demand factor can play a major role in the Utah Home Market. When the supply of available homes is greater than the supply of buyers, appreciation may slow and prices may even fall as happened during the early 1980's and early to mid 1990's.
If you are lucky enough to purchase a home during a slow period, you can be reasonably certain the economy will begin to show strength again. Real estate values may even surge drastically. In many regions of the country, this is precisely what occurred in … (0 comments)
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