buying a home: The Buyer Has Always Paid the Real Estate Fees
- 06/09/26 06:58 PM
For decades, homebuyers were told that the seller paid all the real estate fees. This was the truth, but it was not "the whole truth and nothing but the truth." That the seller paid the fees was always just semantics. A shell game to satisfy mortgage underwriting guidelines, primarily. The buyer's cash (or loan) to buy the home is what gave the seller the proceeds with which to pay their agent and other settlement fees. The buyer not only historically already paid for their agent, but they also paid the fee for the seller's agent. A homebuyer has the right to choose their own … (2 comments)
buying a home: Salt Lake County First-Time Homebuyer Course This Week!
- 03/17/25 01:24 PM
š STOP! Donāt Even THINK About Buying a Homeā¦ Until You Take This 1-Hour Crash Course!āWhat You DONāT Know About Buying a Home Could Cost You Tens of Thousands of DollarsāAnd Iāll Prove It in Just 60 Minutes!āš” Taught by Benjamin Clark, Principal Broker of Homebuyer Representation, Inc., an Exclusive Buyerās Brokerage, & President-Elect of the National Association of Exclusive Buyer AgentsĀ š¹Ā Buying your first home? Excitingā¦ but also overwhelming.Ā Between sky-high prices, confusing mortgage terms, and sneaky seller tricks,Ā one wrong move could cost you THOUSANDS. Thatās why weāre making thisĀ fun, informal, and HIGHLY valuable 1-hour crash courseĀ availableāforĀ FREE. Ā What Youāll Learn in Just 60 Minutes:ā Ā Should … (1 comments)
buying a home: Salt Lake County Real Estate Market Update - March 1, 2024
- 03/02/24 11:23 AM
Active listings for Salt Lake County single family homes are up 223 since last year, but down 195 compared to last month. Things are still tight. Ā Homes are selling a little bit faster than January with the average Days on the Market down to 38. Believe it or not, this is still a "fast" pace for sales. You just can't compare it to that time period when many homes were selling in 1 or 2 days. That was a VERY unbalanced market. Ā Sold listings were also up, with 184 more sales in February than January. We attribute some of that to the lower … (3 comments)
buying a home: Utah Real Estate Market Update - January 2024
- 01/23/24 03:03 PM
A LOT has changed in the last 30 days! Letās look at whatās going on in the Utah Real Estate Market and where things are heading regarding inventory, home prices, interest rates and affordability. If you have any questions, just message us or visit http://www.hmbyr.com to learn more. If you are thinking about buying a home in the Salt Lake City metro area, call Homebuyer Representation today at 801-999-8889 for the highest level of representation. Homebuyer Representation, Inc. is a licensed Utah Real Estate Brokerage and an Exclusive Buyer Brokerage. We don't list homes or represent sellers! Homebuyer Representation - The Real Estate Brokerage on … (2 comments)
buying a home: Utah Named "Nation's Happiest State"
- 09/14/23 01:11 PM
Utah is the happiest state in the U.S. according to a yearly study by WalletHub. This is based on 30 different factors like job security, weather, and mental health. Utah ranks high in sports participation, has the lowest divorce rate, is very safe, and people here work fewer hours. Utahns are also the most generous with their time, volunteering the most in the nation. This isn't the first time Utah has been the happiest state, having claimed the title in 2021 as well. Hawaii, Maryland, Minnesota, and New Jersey round out the top five happiest states, while West Virginia is the least … (1 comments)
buying a home: Will Mortgage Interest Rates Go Down?
- 08/14/23 02:02 PM
In general, it looks like buying now and refinancing when rates drop later is a reasonable expectation. Ā If rates do drop in the future, we would expect prices to rise again, possibly at an accelerated pace due to the shortage of housing units in many markets and the backlog of hesitant buyers that will all be jumping back into the market at the same time. Ā Mortgage Rate Forecasts from leading research firms. Source: FORTUNE 8-13-2023 š Your Relocation Solution š Moving to a new state without a real estate connection?Ā Worry not! Our RepRelocationā team ensures you get connected to the best real estate agents in … (2 comments)
buying a home: Challenges to Assuming a VA Loan when Buying a Home
- 08/03/23 05:09 PM
In this new episode of Real Estate Short Cuts, we discuss with loan expert Dave Nichols from NBKC Bank some of the realities of trying to buy a home with an assumable loan. Click Here to Watch While the dream of getting a loan with an interest rate much lower than today's is possible ā it's not without its challenges! With the recent rapid rise in interest rates, assuming a seller's existing loan at its much lower interest rate could save you hundreds of dollars a month in mortgage interest. But of course, with great rewards come some challenges. Assuming a loan is a time-intensive process: … (1 comments)
buying a home: Why You Should Have a Buyer's Agent When Buying Your Home
- 07/26/23 05:33 PM
Whenever you buy a home, one of the most important decisions you'll make is whether or not you will have an agent on your side to make the process smoother and more enjoyable. Your Own Real Estate Expert Sellers almost always have a professional on their side to get them the best price and terms. You should hire a personal real estate expert to look out for you. A Buyer's Agent will help you find the best house and help you get it at the best possible terms. Making Home Hunting Easier A Buyer's Agent can help you cut through all the clutter and help … (5 comments)
buying a home: Interest Rates in Utah are around 7%. Should I buy a home now or wait?
- 07/17/23 03:55 PM
I'm not usually one to suggest that "now is the perfect time to buy" a home. In fact, the perfect time to buy a home is almost always "years, if not decades ago". That's because in spite of crashes and corrections, we are likely never going back to the $80,000 homes of the 1990s or the $3,000 homes of the 1940s.Ā There is no doubt that real estate is a proven LONG-TERM investment. Housing is not getting less expensive Prices do occasionally go down, but not generally over the long term. Ask yourself how long will you need housing? Here is a list of … (1 comments)
buying a home: Utah is Ranked the #1 Best State In America
- 05/15/23 06:13 PM
Utah has claimed the prestigious No. 1 spot in U.S. News & World Report's Best States rankings. It edges out Washington state which had held the title for the previous two consecutive years. The newly released analysis highlights Utah's outstanding performance across Ā over 70 metrics spanning eight categories, including the economy, healthcare, education, and the natural environment. Utah's rise to the top can be attributed to its #1 rankings in the economy and fiscal stability categories. Utah's consistent rankings within the top 15 in six of the eight measured categories propelled it to the forefront, showcasing its strength as a great state … (3 comments)
buying a home: What Utah Buyers Should Consider When Viewing Homes that are "Staged"
- 09/30/19 03:38 PM
When you see a staged home, what you see is a performance - a home that has been made to look better than it actually might be. Staged homes are nice to look at, but homebuyers need to be careful to not get caught up in the presentation and lose sight of what is "real" in the home.Ā Not all staging is done to "cover" something, but staging may strategically distract a buyer from seeing something undesirable. Unless you are buying a home that is fully furnished and decorated, you will be buying the same walls, floors and layout you would … (0 comments)
buying a home: Who does the Appraisal Really PROTECT?
- 08/16/19 03:37 PM
Most Utah Homebuyers believe that the appraisal is being done to protect the Buyer. Although it may ultimately do so, the appraisal is really done in order to protect the lender. Appraisers are hired to protect the Buyer's lender(s). The main part of the appraiser's job is to determine if there is enough collateral value in the property to protect the lender's lien-holder position (risk). In some markets, appraisals may be routinely performed before presenting offers. However in Utah, the appraisal is typically ordered after a contract price has already been agreed to. In this case, most Buyers will (should) include an … (0 comments)
buying a home: How to Determine How Much Earnest Money to Put Down
- 08/16/19 03:28 PM
Determining how MUCH Earnest Money to put down when making an initial offer is VERY IMPORTANT! The amount of Earnest Money you include with your offer is highly important. It sets the stage for negotiations and the strength of your offer. The amount you choose to put up as Earnest Money has both advantages and disadvantages, protections and exposure. If you were working with the Seller's Agent (the agent who listed the home that you are offering to buy), they would likely try to get you to put down a very large sum of money. This might be because if you were to … (0 comments)
buying a home: The Appraisal Contingency in Utah May Protect the Buyer
- 08/12/19 02:34 PM
In Utah, THE APPRAISAL CONTINGENCY allows a Buyer to cancel the contract and have their Earnest Money returned, if the property under contract appraises for less than the contractually agreed price. This contingency has deadlines by which the appraisal and cancellation need to be made. Almost ALL Buyers should include an appraisal contingency in their offers. Some cash buyers who plan to live in the home a long time, some investors, and some other buyers may decide to forego an appraisal contingency. Usually even these buyers will only do so if they are extremely confident in their valuation and if after … (0 comments)
buying a home: What You Need to Know About Earnest Money
- 08/06/19 12:39 PM
Once Homebuyer Representation has shown you all the available homes on the market that fit your budget and match your criteria and you have decided on the one you want to make an offer on, it's time to get serious! In Utah, in order for your offer to be valid it is required to be backed by what is termed "good and valuable consideration." In most cases, this means that your offer must be backed by a monetary deposit, calledĀ Earnest Money. The larger your earnest money, the stronger your offer. When the transaction comes to a successful close, your earnest money deposit is … (0 comments)
buying a home: Finding the Newest Homes on the Market Each Day
- 08/06/19 12:34 PM
Get Technology to Work For You At Homebuyer Representation, we program our database to search the entire inventory of listed homes for sale in the Salt Lake Area. Our computers instantly find homes that match what you are looking for. We set you up with access directly to the Wasatch Front Regional Multiple Listing Service's mainframe database (The MLS). You can know about new listings the day they are entered into the MLS. We program the database to flag new listings, reduced price listings and changed listings that match your criteria and notify you so you can always be aware of new homes … (0 comments)
buying a home: How to Know Which Loan is BEST for You
- 07/30/19 03:07 PM
There are so many lenders, loan types and loan programs, so how can you REALLY know which loan is best for you? At Homebuyer Representation, our Exclusive Buyers Agents will assist you by looking at your financing options and possible sources of financing. We are not lenders, but because we have helped hundreds of clients buy homes over the years, we are very familiar with many lenders, and most loan types and loan programs. Our only goal is that you, as a homebuyer, understand the total cost of each loan, loan type, or loan product or configuration which you are considering so … (0 comments)
buying a home: 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)
buying a home: PRE-APPROVED not Pre-Qualified
- 07/30/19 01:09 PM
ALL Homebuyers should be PRE-APPROVED, not pre-qualified BEFORE they make an offer. Being pre-qualified means that the buyer knows what the price of the home is and what the payments would be if they purchased the home. But this does not mean that the lender is willing to lend them that money to buy a home. Lenders have very specific guidelines they need to follow in order to lend money to homebuyers. Being PRE-APPROVEDĀ means your credit has been checked and that your loan has been approved with some normal conditions (such as appraisal, no change in employment, etc.). It also means that the … (0 comments)
buying a home: Credit Scores - Know Yours!
- 07/30/19 12:39 PM
Don't be one of the many buyers that areĀ unsure of their standing in the credit department! Not knowing could lead to an agreement to pay a higher interest rate. Knowing your credit score could help you get the best interest rateĀ available. Most of those who believe their credit score is excellent are often correct. Many who are unsure of their score, are often surprised to find out that their credit actually is great or excellent. According to Experian.com, a score above 670 is considered good and a score above 740 is very good. To be considered exceptional, your credit score should be … (0 comments)
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