analysis: The Wrong Mortgage Can Cost You Thousands of Dollars - 07/30/19 01:31 PM
The wrong mortgage could end up costing you thousands of dollars in needless fees, interest and other costs.
Many lenders have a collection of go-to loan types that they use most often. However, your circumstances may require a special product that only certain lenders can offer. Many loan originators prefer to offer loans that give them the highest yield or profit (the loan that will put the most money in their pocket...).
Some lenders will find out what your hot-button is. Is it wanting the lowest interest rate? The lowest fees? The lowest monthly payment? Loans can be configured in many ways. Modifying … (0 comments)

analysis: Rent or Buy? - 02/24/11 08:07 AM
If you are trying to decide whether or not you should rent or buy in today's economy, I ran across this great little tool that can HELP you analyze what might be best for you.
http://www.nytimes.com/interactive/business/buy-rent-calculator.html
I say "HELP" you analyze what is best because in order for it to be anywhere near accurate, you will have to do some research on each of the variables that are required for it to make a calculation. You will also need to have at least some idea about how long you want to "settle" down in the area you are considering renting or … (2 comments)

analysis: Mortgage Shopping Will Soon be a Lot Less Complicated - 11/10/09 11:11 AM
Mortgage shopping will soon be a lot less complicated.
RESPA Reform takes effect on January 1, 2010. While still not perfect, the changes do simplify the ability to compare loan offerings between lenders. The goal was to simplify and improve disclosure requirements for mortgage settlement costs under RESPA. My analysis: Mission Accomplished
Here are some key highlights for borrowers:
The new Good Faith Estimate (GFE) and the New Settlement Statement (HUD1 or HUD1A) now correspond to one another. In the past, there was no direct correllation between line items, making it difficult for a consumer to know whether or not … (3 comments)

analysis: How to "Shop" Loans and Lenders Part 1 of 7 (How to Shop Mortgage Loan Series) - 08/01/09 08:48 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (6 comments)

analysis: How to "Shop" Loans and Lenders Part 2 of 7 (Same Day - Same Time) - 08/01/09 08:46 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

analysis: How to "Shop" Loans and Lenders Part 3 of 7 (Same Facts) - 08/01/09 08:45 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

analysis: How to "Shop" Loans and Lenders Part 4 of 7 (TOTAL Cost) - 08/01/09 08:43 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

analysis: How to "Shop" Loans and Lenders Part 5 of 7 (Friend/Special Deal) - 08/01/09 08:39 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

analysis: How to "Shop" Loans and Lenders Part 6 of 7 (References) - 08/01/09 08:38 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

analysis: How to "Shop" Loans and Lenders Part 7 of 7 (Extras/Additional Information) - 08/01/09 08:36 AM
Many Buyers pay 1-3% too much for their loan in up-front costs, even after "shopping" for lenders. Some choose a lender solely based on which one has the lowest up-front costs, but they end up paying for it by getting an interest rate that is higher than they qualify for. Others unnecessarily pay too much in fees in order to get the lowest interest rate.
Shopping for a loan does not have to be difficult or complicated. The key is to take control of the process, get organized, and make sure you do it right.
Here are some basics on ONE … (0 comments)

analysis: Most homes sold in Salt Lake County (July 2008) were priced $300,000 or less - 08/29/08 04:50 PM
Good news for those hoping to buy (or sell?) homes under $300,000 in Salt Lake County:
The Salt Lake Board of Realtors said this week that 71 percent of home sales in Salt Lake County in July were for properties priced less than $300,000. The most active price range was from $200,000 to $250,000, the board said.(Salt Lake Tribune)
A majority of my clients thus far in 2008 have purchased homes between $250,000 and $500,000.
Here are my thoughts on this "announcement":
It's easier to get a mortgage for homes priced at $300,000 or less There is a higher percentage … (1 comments)

analysis: Salt Lake Real Estate Market Update - 08/29/08 04:31 PM
Well, it's that time of year when OFHEO (The Office of Federal Housing Enterprise Oversight) posts all the real estate data that leads to posts such as this.
It looks like Salt Lake comes in at 1.9% home value appreciation from June 2007 - June 2008. This is pretty much exactly what I was hoping for and expecting about a year ago, as well as what economists were saying was a good thing to happen to Salt Lake's market.
Why was I hoping appreciation would slow to a crawl, and possibly stop?
See, if homes continued to sell for 10-20% higher … (0 comments)

analysis: Salt Lake City Real Estate - 2nd strongest metro price increase in the west - 08/26/08 11:39 AM
Salt Lake area home prices (for homes that actually sell) appear to be relatively flat at this time. The good news is that it would appear that Salt Lake still has some cushion considering that the median existing single-family home price "in the West" was $290,600 and Salt Lake came in at only $234,200.
In the West, the median existing single-family home price was $290,600 in the second quarter, which is 17.4 percent below a year ago. After Yakima, the strongest metro price increase in the West was in the Salt Lake City area, at $234,200, up 0.5 percent from a … (0 comments)

analysis: Salt Lake Real Estate over the past year (April 2007-April 2008) - 04/16/08 05:08 AM

A year ago Salt Lake was seeing appreciation rates in the 15-20% range. Today, appreciation is somewhere between 0 and +3% (My best guess - Official Data won't be out until the 20th).
There was a 6 month stretch with fewer home sales, making it harder to find comparable sales for new contracts and appraisals.
Many Buyers went into hiding while at the same time many owners decided to put their homes on the market. This is also true of Builders. Historically builders would list one or two homes with the intent of bringing buyers into their office. Then they would … (0 comments)

analysis: To Buy Or Not To Buy? This is the Answer (Salt Lake City, Utah) - 02/17/08 01:49 PM
Salt Lake Market in a Nutshell (February 15, 2008):Number of Homes Listed: UPNumber of Homes Sold: DOWNList Prices: DOWNSOLD Prices: UP
To Buy or Not to Buy: BUY
It's a Buyer's Market. What are you waiting for?
If you are thinking about buying a home in the Salt Lake area, make sure you get an agent on YOUR side.
Homebuyer Representation, Inc. is the only Real Estate Brokerage representing Buyers ONLY in Salt Lake City and the Surrounding Areas. We do not list any homes. We never represent Sellers. We work for BUYERS ONLY on the Buyer's side of the transaction.
We work to get BUYERS the Best Price and Terms when … (3 comments)

analysis: Ummel Case - National Association of Exclusive Buyer Agents Statement - 02/09/08 04:46 PM
Being an Exclusive Buyer's Agent and a member of the National Association of Exclusive Buyer Agents (Disclosure: I'm also on the Board of Directors), I was excited to see the following article on FoxBusiness.com:
Buyer Agent Organization Comments on Ummel Home Buying Case
The Association's position is simply that part of a Buyer's Agent's due diligence is to prepare comparative market analyses on properties being considered for purchase. (Certainly before submitting an offer on a property.)
As stated, all the details of the case are not readily available, but when a consumer hires a Buyer's Agent to help them with their home purchase, they believe … (6 comments)

analysis: Salt Lake County - 2007 Total Year Real Estate Sales Report - 01/22/08 11:26 AM
I ran this report for 4th Quarter 2007 and thought that some of you would be interested in looking at the entire year's statistics.
Report Generated from the Wasatch Front Regional Multiple Listing Service
Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage serving Salt Lake and surrounding areas. We do not list homes and we don't represent Sellers. We work for BUYERS ONLY on the Buying side of the transaction, to get the BUYER the Best Price and Terms... "We're the Real Estate Agents who Represent the Home Buyer" TM
For more information, just call us at (801) 969-8989 or contact us via the link … (2 comments)

analysis: Salt Lake County 4th Quarter Comparisons 2004-2007 - 01/22/08 11:04 AM
Looking at the Fourth Quarter of 2007 for the Salt Lake County Market reveals some interesting facts.
Keep in mind that this information is not necessarily comprehensive as it only takes into account data from the Wasatch Front Multiple Listing Service, but most homes in Salt Lake County sell by Multiple Listing and this data is probably pretty representative of the market at large.
Look at the data and we will analyze it below.
First, DOM - Days On Market increased. In the 4th Quarter of 2006 homes that were priced near enough to market value to sell were selling in 33 days. In … (1 comments)

analysis: Salt Lake County 4th Quarter 2007 Days on Market Report - 01/22/08 10:32 AM
This graph shows how long homes took to sell in the 4th quarter of 2007.
This is only for SOLD homes. As you can see, for homes that DID sell, the average time on the market was 44 days.
The percentage of homes selling in 30 days or less was 43.7%.
The percentage of homes selling in 60 days or less was 72.3%.
The percentage of homes selling in 90 days or less was 88%.
The percentage of homes selling in more than 90 days was 12%.
This sounds good if you are a Seller. However, remember, this is only the time on the market … (1 comments)

analysis: Salt Lake County 4th Quarter 2007 Sales Activity Trend Report - 01/22/08 10:16 AM
Here are some numbers from 4th Quarter 2007. I'll only use the final number in other calculations but I thought some people might be interested in seeing it broken down by Price Range as seen in the table below. (This data is for SOLD homes.)
Data from Wasatch Front Regional Multiple Listing Service
Homebuyer Representation, Inc. services home buyers in Salt Lake City, Utah and surrounding counties.  We work for Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
Exclusive Buyer's Agents do not list homes and don't represent Sellers. If you are thinking about Buying a … (0 comments)

 
Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) Rainmaker large

Benjamin Clark

Buyer's Agent - Certified Negotiation Expert

Salt Lake City, UT

More about me…

Homebuyer Representation, Inc.

Address: PO Box 701481, SLC, UT, 84170-1481

Office: (801) 969-8989

Mobile: (801) 999-8889

Email Me

Insights and information from Salt Lake City's only Exclusive Buyer Brokerage (Exclusive Buyers Agents work for BUYERS ONLY!) Find out why you should always make sure you get an Agent on YOUR side of the transaction when buying a home!Finally! Real Estate Agents on the Buyer's Side™
Salt Lake City Real Estate - Trulia
Subscribe to Buying a Home near Salt Lake City, Utah? CLICK HERE! - Exclusive Buyers Agent Blog by Email


Listings

Links

Archives

RSS 2.0 Feed for this blog