utah: Utah - Still a Good Deal - A Look at Salt Lake County's "Cycle"
- 10/01/07 01:23 PM
Most real estate markets go through what are called "cycles." When the right market conditions align, home prices appreciate at a higher rate. If allowed to go un-checked, that same market will "bubble" meaning that the going prices have risen above what the rest of the market conditions can bear, and eventually the market will need to slow down and allow the other market conditions to catch up, or the bubble will burst and prices will fall. The Salt Lake Valley is a huge valley. Home to about 30 cities and towns and over 1 Million inhabitants. When I started my real … (0 comments)
utah: Who Does the Appraisal REALLY Protect?
- 05/17/07 04:21 AM
Most Utah Homebuyers believe that the appraisal is being done to protect the Buyer. Although it may ultimately do so, the appraisal is really to protect the lender. Appraisers are hired to protect the Buyer's lender(s). A main part of their job is to determine if there is enough collateral value in the property to protect the lender's lien-holder position. In some markets, appraisals may be routinely performed before presenting offers. In Utah, it is more common to order an appraisal after a contract price has already been agreed to. In this case, most Buyers will include an appraisal contingency in their offer, allowing them to … (9 comments)
utah: The Appraisal Contingency
- 05/17/07 04:04 AM
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 this contingency in their offers. Leaving it out could subject you to the possibility of not only paying more for the home than it is worth, but also the chance that you would need to come up with Thousands of Dollars out-of-pocket to pay for the difference in price up front. (Your … (1 comments)
utah: Does Your Offer Have a Financing Contingency?
- 05/17/07 03:56 AM
In Utah, THE FINANCING CONTINGENCY in an offer is a protection to the Buyer if their financing falls through. It allows the Buyer to cancel the contract without forfeiting their Earnest Money. If not included in the offer, and the Buyer's financing falls through, the Seller can either cancel the contract and retain the Earnest Money deposit as liquidated damages, or return the Earnest Money and sue the Buyer for not performing thier duties of the contract. They can also pursue other legal remedies, if available and if they have chosen not to retain the Earnest Money as liquidated damages. If the financing … (0 comments)
utah: How Earnest Money Protects the Buyer
- 05/17/07 03:30 AM
Most people think of Earnest Money only as a protection for the Seller. In some cases a Buyer gets cold feet. Other times, a Buyer ties up the property and is ultimately unable to perform after all contingencies have passed. The Earnest Money is widely considered to be a fair sum, to pay the Seller back for lost time on the market or other inconvenience. What many Buyers do not know, however, is that: In Utah, the Earnest Money Deposit is also a protection to the Buyer. In Utah, Section 16 of the standard Real Estate Purchase Contract states: "If Seller defaults, in addition to … (1 comments)
utah: Your Credit Might Not Be As Bad As You Think
- 05/14/07 05:00 AM
Many buyers in the Salt Lake City, Utah area have been unsure of their standing in the credit department. This has led them to agree to pay a higher interest rate, convinced that they should, when in reality, their credit may not have been low enough to merit the higher rate. Those who believe their credit score is excellent are often correct. Many who are unsure are often surprised to find out that their credit actually is still great or excellent. Some don't understand how scores are calculated or they may have had a late payment or two a while back. This usually isn't … (1 comments)
utah: How to Know About the Newest Homes on the Market Each Day
- 05/14/07 04:54 AM
Get Technology Working For YouWith our Preferred Buyer Search, Salt Lake City Area Buyers help us program our database to search the entire inventory of listed homes for sale. Our computers will easily find the homes that match YOUR specifications. This search accesses the Wasatch Front Regional Multiple Listing Service's mainframe database (The MLS). You'll know about new listings the day they are entered into the Multiple Listing Service (MLS). We can program the database to flag new listings, price reduced listings or otherwise changed listings that match your criteria and email them to you that same day! (And daily thereafter!)No matter what style of home … (3 comments)
utah: Different Types of Agents - Say What?
- 05/08/07 06:13 PM
A VERY Brief Explanation of Different Types of Agents in Utah Listing or Seller's Agent: Sometimes referred to as a "traditional agent", the most common real estate agent works on behalf of the Seller and represents their interests during the sale. Buyer's Agent: Usually a traditional agent who assists the Buyer during a transaction. Exclusive Buyers Agent: An agent who represents Buyers only and never Sellers in a transaction. Dual-Agent or Limited Agent: An agent who works to assist in negotiating a mutually acceptable transaction. The agent cannot provide both parties with undivided loyalty, full confidentiality and full disclosure of all information known to … (7 comments)
utah: Which Loan is REALLY the Best?
- 05/08/07 10:28 AM
With so many lenders, loan types and loan programs, how can you REALLY know which loan is best? At Homebuyer Representation, our Exclusive Buyers Agents can assist you in looking at your financing options and possible sources of financing. We are not lenders. Our only goal is that you understand the total cost of each loan, loan type, or loan product or configuration which you are considering. With this in mind, we created the TOTAL COST OF THE LOAN EVALUATOR®. Our TOTAL COST OF THE LOAN EVALUATOR® allows you to understand what you are really paying for your loan based on the actual dollars … (2 comments)
utah: The wrong mortgage can cost thousands of dollars in needless fees, interest and other costs
- 05/08/07 10:17 AM
The wrong mortgage can cost thousands of dollars in needless fees, interest and other costs.Many lenders have a handful of loan types that they use with almost all of their customers. You may qualify for special programs, but never hear of them. Many lenders use the loans that are most similar to what the Buyer is familiar with, but which provides the lender with the highest yield or fees (the loan that will put the most money in their pocket...) Others will find out what your "hot-button" is: lowest interest rate, lowest fees, lowest payment (to name a few). They will quote you … (2 comments)
utah: Buying a Home (Smarter, not Harder)
- 05/07/07 05:27 PM
Utah's smartest homebuyers have found that the best way to buy a home is to make sure the agent working for them, works ONLY for them! Think about it:In Utah, the Seller's Agent is bound to get the Seller the best price and terms. Can the Seller's agent prepare a market analysis for you and recommend that you make an offer well below the list price? NO. Will the Seller's Agent recommend that you ask the Seller to make repairs, or ask the Seller to pay your closing costs? And then do thier best to negotiate with the Seller on your behalf and get them to … (0 comments)
utah: Three Good Reasons to Use an Exclusive Buyers Agent (EBA)
- 05/07/07 04:48 PM
1. You Become A Client, Not A Customer Without the benefits of using Homebuyer Representation as your Exclusive Buyers Agent, you become just a customer to the Seller and their agent. According to the National Association of Realtors, "As a customer, a buyer is not represented by an agent... the agent cannot negotiate on the buyer's behalf nor reveal to the buyer any confidences of the client, the client is the seller." 2. You and only you are being represented By signing our exclusive buyer agency agreement, you establish a contractual relationship with us. This makes us accountable to you and not … (2 comments)
utah: I have the best clients!
- 05/04/07 12:43 PM
I had to post some comments from recent clients. I have also posted them to my Testimonial Page. Thanks Clients! I really enjoy working with you too! "We wanted someone who would work with us and not be constrained or biased by their own listings or those from colleagues in their same office or group. Benjamin was extremely responsive and even did virtual walk-throughs with us via video on the web. With his help, we found the ideal home."Benjamin came up with a brilliant approach that gave us a real advantage in the negotiations. We closed at a price well below the original asking price. We … (2 comments)
utah: Exclusive Buyer's Agents mentioned in Kiplinger's Personal Finance
- 04/02/07 07:29 AM
An article in the March 2007 edition of Kiplinger's Personal Finance shares some of the benefits of hiring an Exclusive Buyer's Agent. The point of the article (and it's title) was: Hire your own AGENT Just as two sports teams would not use the same coach, and two parties with conflicting interests would not use the same attorney in a court of law, there are real differences of interest between a Buyer and a Seller in a real estate transaction and I believe that each party should seek independent representation. Exclusive Buyers Agents work exclusively for the Buyer. My job is to protect … (2 comments)
Most real estate markets go through what are called "cycles." 
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