Utah County Home Selling and getting your Home ready to Show

Showing your home is probably the most important part of the selling process. Consider the following carefully as you prepare your home for viewing:

1. First impressions mean a lot and often prospective buyers make a decision almost immediately.
2. Curb appeal is important since many buyers search by themselves and then call their Realtor about property they have only seen from the street.
3. Showing your home is probably the most important part of the selling process. Consider the following carefully as you prepare your home for viewing.
4. First impressions mean a lot and often prospective buyers make a decision almost immediately.
5. Curb appeal is important since many buyers search by themselves and then call their Realtor about property they have only seen from the street.
6. Fresh paint on your house’s exterior and interior is one of the easiest and best improvements you can make to enhance that first impression. It makes your house look bright and clean. If you paint, use whites, creams, or neutral colors on the interior and exterior colors that will blend with the neighborhood. If you don’t paint everything, at least paint the places that need it most.
7. Get rid of clutter. Clutter doesn’t sell. Sometimes clutter can be described also as too much décor, too much furniture, too much stuff on the mantle, etc.
8. Don’t cook fish prior to showing your home. Not that you need an air freshener, but you don’t want that first impression to be a bad odor.
9. Keep yards and vegetation mowed and trimmed.
10. Keep pets out of the house when showing.
11. Open blinds and curtains so rooms are bright and inviting.
12. If your house is shown by an agent it is best that you are away. If you cannot leave, remain in a separate part of the house and allow your agent to work for you. Refrain from attempting to point out special features, or initiating idle chat. Do not follow them around. Buyers are uncomfortable in the presence of sellers and it could spoil their tour. Take the dog for a walk or go outside. Trust the skills of your agent to present your house for you. Prior to showing, discuss with your agent everything you would like to convey to the buyer. It is in your best interests.
13. Be flexible. Your house could be shown at any time. Agents do everything possible to arrive within a certain schedule, but sometimes this isn’t possible. So too, they may call at a moment’s notice which means your house should be ready for viewing at any given time. This eliminates the need for panic and will help reduce your stress level
14. Fresh paint on your house’s exterior and interior is one of the easiest and best improvements you can make to enhance that first impression. It makes your house look bright and clean. If you paint, use whites, creams, or neutral colors on the interior and exterior colors that will blend with the neighborhood. If you don’t paint everything, at least paint the places that need it most.
15. Get rid of clutter. Clutter doesn’t sell. Sometimes clutter can be described also as too much décor, too much furniture, too much stuff on the mantle, etc.

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What Should You Discuss with your Utah County Listing Realtor?

www.HomeSellingUtah.com
www.UtahCountyHomesForSale.net
www.UtahHomesNow.com
www.UtahCountyRealEstate.us
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Utah County Real Estate and working with a 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 my clients on a number of occasions when there were problems with home builders. Salespeople who work for the builder are usually very ethical they are also employees of the builder and are bound by their relationship to their employer. They do not specifically represent the home buyer like I do.

·         Buyer’s agents have certain responsibilities that are defined by the Utah Real Estate commission, which regulates all Utah Realtors. First and foremost, we are required to place your needs above our own when representing you in a real estate transaction. I owe you:

o    Loyalty

o    Obedience

o    Disclosure

o    Confidentiality

o    Reasonable Care & Diligence

o    Accounting on all Matters

The buyer’s agent must treat all parties in the transaction honestly and fairly.

Buyer’s agency is usually provided at absolutely NO COST to you, the home buyer.

Remember when looking to purchase a new home always consider using a Buyer’s agent during the transaction.

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Utah County Real Estate Foreclosures and record Bank Owned Listings 2012

It has come to my attention that many Utah County Banks have been holding a large inventory of homes to be released early in 2012.  Due to this excessive influx of bank owned homes, I anticipate a drastic decrease in Home selling prices. 

What a great opportunity for all of my Utah County Home Buyers.  Interest rates are hovering below 4% and this trend should continue throughout the coming months.

Banks are not in the business to hold onto an inventory of homes. They want to get rid of these homes yesterday. This makes for a great opportunity for you, the home buyer or investor, because most of these homes are well below market value. Once the bank owns the property they will handle eviction if any, take care of some repairs, pay past HOA and/or other maintenance dues, and then will negotiate with the IRS, removal of tax liens, if any.

How do Utah County Banks sell REO’s (Real Estate owned by the Bank)

Most banks have an REO department that handles the sale of these properties. They certainly would like to get the best price of course. When you make an offer, the banks will usually make a counter offer. Don’t be surprised to get a higher counter offer than you might expect. Banks want to show their shareholders and investors that they are trying to get the highest possible price for the house. You should counter the counter offer. Your offer will likely be reviewed by an approval panel. Even after they accept your offer they include wordings like “subject to corporate approval”.

Condition of the Property

These homes are almost always sold “as is” with the right to inspect. You incur the inspection expenses (termite, general home inspection, mold, etc.). An inspection contingency period must be included in your offer that will allow you to terminate the sale if any of the inspection reveals damage that the bank will NOT correct.

Make sure you have someone representing you who understand this process, when you are trying to negotiate on a Bank owned property. It is important that you have someone who knows how to handle repairs and all the steps necessary for a smooth closing.

Check out the IDX Websites with Homes for Sale in the following locations:

State of Utah homes for sale – Home Selling Utah

Homes available for Sale in UtahCounty

Alpine Homes for Sale

American Fork Homes for Sale

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Eagle Mountain Homes for Sale

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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’s 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’s Representative.

Questions to ask:

Experience and Credentials

How long have you been a buyer’s agent? How long have you been an Accredited Buyer’s Representative? What other real estate designations or credentials do you hold?

References

Can you share the names and contact details for three past buyer-clients who can provide references?

Knowledge

What are your areas of specialized knowledge? Which types of housing or neighborhoods do you know best?

Representation

Please explain what representation choices I have as a buyer. What is meant by fiduciary duties? Do you practice dual representation?

Services Provided

Please explain how you will assist me at each stage of the transaction. Do you have a written buyer representation agreement that details our obligations to each other?

Compensation

How will you be compensated? If I hire you as my buyer’s agent will I be subjected to any additional costs in my transaction?

Finding Properties

Do you have full access to the Multiple Listing service (MLS)? Will you try to find suitable properties beyond the MLS?

Personal Support

Will you handle all aspects of my transaction, or will I be working with assistants? Who will be explaining the various forms, agreements and steps required to reach closing?

Negotiating

Will you counsel me on a negotiating strategy and appropriate contingencies? How will you package my offer to the seller? Will you personally present my offer?

Financing

Will you provide guidance on affordability, mortgage options and how to choose a lender? Why should I consider becoming pre-qualified or pre-approved on a mortgage?

Related Service-Providers

Can you provide referrals to providers of other services related to my transaction, including home inspectors, surveyors, movers, etc.?

Check out the IDX Websites with Homes for Sale in the following locations:

State of Utah homes for sale – Home Selling Utah

Homes available for Sale in UtahCounty
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Alpine Homes for Sale

American Fork Homes for Sale

Cedar Hills Homes for Sale

Eagle Mountain Homes for Sale

Highland Homes for Sale

LehiHomes for Sale

Mapleton Homes for Sale

OremHomes for Sale

Provo Homes for Sale – Provo Home Selling

Payson Homes for Sale

Pleasant Grove Homes for Sale

Saratoga Springs Homes for Sale

Spanish Fork Homes for Sale

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Utah County Real Estate and what is a Short Sale

With the present Utah County Real Estate market in turmoil and many home owners are having a hard time trying to sell their home, because they owe more than it is worth. I keep getting the question from my buyers about what is a Short Sale and how does it work? Well I will try and address that question here. I hope I am accurate, I am sure I will hear about it if I am not.

What is a Utah County Short Sale?

A Utah County Short Sale occurs when a property sells for a price that is insufficient to pay back the loans secured by the property (or any other liens against the property, such as delinquent property taxes, Homeowners/Condominium Association fees, etc.), as well as standard sales closing costs. In order to complete such a sale, the Seller must either:

·        Come to the closing with sufficient cash from other sources to cover these shortfalls,

·        The seller’s lender must agree to forgive all or a portion of the amounts the Seller is “Short” or make other arrangements for repayment (such as execution of a promissory note). This second alternative is commonly known as a Short Sale. The Seller’s lenders will generally not allow the Seller to receive any proceeds or otherwise obtain any monetary benefit as part of a Short sale.

Is a Utah County Short Sale a “Better Deal” than other properties?

Buying a property through a Utah County Short Sale may be a “good deal,” but that is not always the case. First, there is no assurance that a Seller will obtain approval of the sale from the lender. Each lender has its own requirements to qualify. Most lenders will not allow the Seller to pay for repairs or to provide repair credits. As such, your best, and perhaps only, opportunity to purchase a Short Sale property will be on an “As-Is with Right to Inspect” basis (which allows you to inspect the property and cancel the contract if repairs exceed an agreed upon amount). Also, lenders will typically limit or not allow closing costs and other credits to be given to a buyer on a Short Sale. While you may consider purchasing a property that is subject to Short Sale approval, there may be other properties available through a traditional transaction which you may find better satisfies your goals.

How long will it take to get a Utah County Short Sale approved?

Every Short Sale situation is different and depends upon many different factors such as the Seller’s individual circumstances, the nature of the loan(s) and other liens against the property, and the Seller’s lender criteria and staffing. Many lenders will not even begin to review a Seller’s request until a contract for sale has been executed, which may further delay the process. In addition, many lenders will require the Seller to provide detailed financial information and may also perform appraisals of the property to determine whether it is in fact worth less than the outstanding mortgage. While some lenders are able to review Short Sale requests quicker than others, many lenders can take several weeks or more.

What should I include in my contract for a Utah County Short Sale property?

Because the Utah County Short Sale approval process may take several weeks or longer, it is important that you include your offer to purchase provision that limit the time that the Seller may have to obtain approval for a Utah County Short Sale, as well as other protections that address when the time periods provided under the contract will begin, and what the seller may or may not do should other offers be presented before the contract has been approved by the Seller’s lender(s).

If these protections are not in your contract for a Utah County Short Sale property, you may be tied up in a contract for a significant period of time or may lose out on the ability to purchase the property because the owner submits other offers to their lender(s) for approval which may be accepted.

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Provo Homes for Sale and 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.

Provo Homes for Sale and Foreclosure is a process

Pre-Foreclosure
A period of time that begins with the initial mortgage default and ends when the distressed property is sold

Foreclosure Sale
When the property is auctioned to the highest bidder, someone who also meets the terms of the sale.

REO (Real Estate Owned)
If a foreclosure sale is not successful, property ownership is transferred to the lender

Provo Homes for Sale and what is a Short Sale?

This is a situation in which a seller owes more on their loan than a sale of the property will produce, and they are unable or unwilling to make up the difference at closing. The seller may or may not be in pre-foreclosure. Banks may consider a short sale to a new buyer to reduce their losses.

Provo Homes for Sale and Questions to ask

Your buyer's representative can give you specific guidance based on your situation and the type of distressed property you want to purchase. But for starters, consider these questions:

• Are you flexible on timing? Can you make a quick decision and/or accommodate months of possible delays?
• Is your purchase limited by any contingencies, such as needing to sell your current home first?
• Have you already secured financing?
• Do you have resources to repair and rehab the property, if needed?
• If you are buying the property for investment purposed, what is your action plan? Do you intend to rent or resell? Or perhaps inhabit the property until market conditions improve?

Provo Homes for Sale and the final step.

Your buyer's representative can assist you further in answering these and other questions which will help you determine whether this path to homeownership is right for you.

Check out the IDX Websites with Provo Homes for Sale in the following locations:

State of Utah homes for sale – Home Selling Utah

Homes available for Sale in Utah County

Provo Homes for Sale – Provo Home Selling

Utah County Homes for Sale and your 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 record after 7 years (10 years for bankruptcies). This credit information is then used to help generate a computer driven number that indicates your risk to lenders. This is what is called your Credit Score.

No Credit?

It is very important to establish some kind of credit long before you ever consider purchasing a new home. Perhaps you should apply for a credit card or two, then use them very carefully and pay them off each month. Next, apply for credit at a Department Store. Next, apply for a car loan. Each one of these purchases, along with paying regularly on them, will help your credit rating. After time and a good payment record you should be able to qualify for the best rates available when attempting to purchase that new home.

Bad Credit?

It could take some time to repair bad credit. Most important is the recent activity, credit scores will go up the longer you fulfill all of your obligations. Never pay less than what is due, in fact is best that you pay a little more than the minimum, the credit rating usually reflects this in its rating.

One of the best things you can do is make a budget to help with your monthly expenditures and then live by it. Also, start a savings account and make it part of your budget. You will need money for a down payment as well when it comes time to purchase that new home.

Check out the IDX Websites with Homes for Sale in the following locations:

StateofUtah homesforsale – HomeSellingUtah

Homesavailable forSale inUtahCounty

AlpineHomesforSale

American ForkHomes for Sale

Cedar Hills Homes forSale

Eagle MountainHomesfor Sale

HighlandHomesforSale

LehiHomesforSale

MapletonHomesfor Sale

OremHomesforSale

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PaysonHomesfor Sale

Pleasant GroveHomes for Sale

Saratoga SpringsHomes for Sale

Spanish ForkHomesfor Sale

SpringvilleHomes forSale

Utah County Homes for Sale and Bank Owned Foreclosure Homes Provo

Banks are not in the business to hold onto an inventory of homes. They want to get rid of these homes yesterday. This makes for a great opportunity for you, the home buyer or investor, because most of these homes are well below market value. Once the bank owns the property they will handle eviction if any, take care of some repairs, pay past HOA and/or other maintenance dues, and then will negotiate with the IRS, removal of tax liens, if any.

How do banks sell Utah County REO’s (Real Estate owned by the Bank?)

Most banks have an REO department that handles the sale of these properties. They certainly would like to get the best price of course. When you make an offer, the banks will usually make a counter offer. Don’t be surprised to get a higher counter offer than you might expect. Banks want to show their shareholders and investors that they are trying to get the highest possible price for the house. You should counter the counter offer. Your offer will likely be reviewed by an approval panel. Even after they accept your offer they include wordings like “subject to corporate approval”.

Condition of the Utah County Property Provo

These homes are almost always sold “as is” with the right to inspect. You incur the inspection expenses (termite, general home inspection, mold, etc.). An inspection contingency period must be included in your offer that will allow you to terminate the sale if any of the inspection reveals damage that the bank will NOT correct.

Make sure you have someone representing you who understand this process, when you are trying to negotiate on a Bank owned property. It is important that you have someone who knows how to handle repairs and all the steps necessary for a smooth closing.

Utah County Bank Owned Foreclosure Properties

Utah County Short Sale Properties

Check out the IDX Websites with Homes for Sale in the following locations:

StateofUtah homesforsale – HomeSellingUtah

Homesavailable forSale inUtahCounty

AlpineHomesforSale

American ForkHomes for Sale

Cedar Hills Homes forSale

Eagle MountainHomesfor Sale

HighlandHomesforSale

LehiHomesforSale

MapletonHomesfor Sale

OremHomesforSale

ProvoHomesforSale–ProvoHomeSelling

PaysonHomesfor Sale

Pleasant GroveHomes for Sale

Saratoga SpringsHomes for Sale

Spanish ForkHomesfor Sale

SpringvilleHomes forSale

Utah County Homes for Sale, Renting versus Buying?

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 Utah County 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 these uneasy situations it is really logical and practical to tighten our belts and postpone any investment or acquisition transaction.

The decision to buy or to rent a home should be influence by several factors. There is a need to assess your cash and spending capability. If you have enough savings, and do you have enough spare money for allotted necessities. It is not safe to get such an investment if you cannot guarantee yourself that you can have sufficient amount of money to shoulder monthly amortizations.

You should also look at the difference between the monthly rent and the deposit or monthly payments to banks. Usually, Utah County homebuyers prefer to buy rent-to-own homes because required monthly payments are almost always in the same price range as the monthly rent or leased homes. Why would you not opt to own a home you are renting? Buying such a house is practical because it gives a sense as if you are renting: but after a few years, you will fully and legally own the home.

For a sense of security of tenure, buying a home is ideal. If you are scared of being easily evicted from your apartment, you should opt to instead buy and own your own home, where no one can evict you. If you think you will not enjoy the location of the home as well as the company of neighbors, renting will be a more ideal and recommended measure. If you are renting your home, you can easily decide to leave the place and move to a better and more conducive one, whereas if you own the home, you have no choice but to endure and be patient for life.

Owning a home will spare you from Utah County residential market situations. Landlords will always set rents at par with the usual rates prevailing in the market. When demand is very stiff and high, expect your monthly home rent to go along with the climb. The good thing about this is that when demand is not robust, rental prices can also step down. Monthly amortizations for acquired homes under installment have fixed prices. Thus, you are to pay a fixed cost even if demand rises or falls.

As you weigh the pros and cons of buying and renting a Utah County home, you should also ask yourself, which one will be more advantageous in the long term?

Check out the IDX Websites with Homes for Sale in the following locations:

StateofUtah homesforsale – HomeSellingUtah

Homesavailable forSale inUtahCounty

AlpineHomesforSale

American ForkHomes for Sale

Cedar Hills Homes forSale

Eagle MountainHomesfor Sale

HighlandHomesforSale

LehiHomesforSale

MapletonHomesfor Sale

OremHomesforSale

ProvoHomesforSale–ProvoHomeSelling

PaysonHomesfor Sale

Pleasant GroveHomes for Sale

Saratoga SpringsHomes for Sale

Spanish ForkHomesfor Sale

SpringvilleHomes forSale