Real estate blog entries tagged with sellers by Kim Novak, Broker/Owner (Novak Advantage Real Estate)

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sellers: Renovation Funds for Home Buyers and Sellers - 11/22/10 03:18 PM

I'm excited to announce that I've just completed the real estate industry’s most comprehensive training in the use of the U.S. Government’s FHA 203k Home Purchase and Renovation Loan program. With this designation, I become a member of REbuildUSA, a nationwide organization of real estate, lending and home improvement professionals, working in partnership with Lowe’s, is dedicated to helping more Americans achieve the dream of home ownership, improving our communities and contributing to the health of our economy. The FHA 203k Renovation Loan offers tremendous opportunities for many Americans to enjoy great prices on homes today, yet there is very little … (0 comments)

sellers: Another Accolade for Ogden - 11/17/10 11:29 AM

#11 Forbes Best Places for Business and Career Relocating to Ogden? Click Here to Search for Homes Nearby. … (0 comments)

sellers: Lowe’s & RE-Build USA Working Together to Facilitate FHA’s 203k Rehab Loan Program - 11/17/10 09:02 AM

Lowe's Home Improvement Streamlining the Streamline (and Standard) 203k Program. Teamwork between the lender (approved by FHA), real estate agent (your 203k Specialist) and Lowe's (as the construction consultant and supplier) creates success for both the seller and buyer of a home that needs TLC. Repairs that the seller can't afford to make and the buyer can't afford NOT to invest in can finally be achieved. Contact me to find out if a 203k loan is right for you!
Kim Novak, RE/MAX Masters
kimnovak@remax.net
(801) 726-1443
… (1 comments)

sellers: Don't Be Afraid of 203Ks - 11/17/10 08:57 AM

Yes, they're "harder" than the average mortgage, but the benefits are well worth it! Remodel a house to make it your home ... better than new construction in half the time. 203K Rehab Mortgage. RE-Build USA's 203K Specialist Program & Certification I'm excited to complete this program as a value added service for my current buyer clientele considering "fixer-upper" opportunities and my past clients who want to remodel their current homes - sans credit card(s).
There are two versions of the 203K Rehab Mortgage - Streamline and Standard. Both are quasi construction loans, with the homeowner working directly with their lending … (0 comments)

sellers: Short Sale Market Share in Northern Utah including Salt Lake, Davis and Weber Counties - 11/17/10 08:34 AM

There are approximately 11,500 active home listings on www.UtahRealEstate.com (Wasatch Front Regional MLS) in Salt Lake, Davis and Weber Counties. Almost 2,500 of those home listings, are Short Sales = 21% ... one in five. Additionally, at least 10% of the homes currently on the market are vacant. What does this mean? It means that opportunity abounds for both home buyers and sellers. Yes, I really meant to include "sellers". For buyers, the current market offers unprecedented opportunity to "buy low", in the areas which will most likely rebound first (and yes, the real estate market WILL improve - check back … (0 comments)

sellers: Invitation to Join Facebook Page: Short Sale Strategies, Tips & Resources to Avoid Foreclosure - 12/07/09 06:28 AM

Short Sale Strategies, Tips & Resources to Avoid Foreclosure on Facebook A place for home owners facing mortgage troubles to find the resources & professional insight in to avoiding foreclosure. Both the public & the real estate community are welcomed to share their experiences, start a discussion or ask/answer questions. … (1 comments)

sellers: SOLD!!! $139,900 ... 383 W. 1225 North, Layton, UT 84041 close to Hill AFB! - 06/01/09 05:48 PM

Eligible for $500 Buyer Bonus!
Price Reduced … Again! Beautifully maintained and move in ready. Updated kitchen with brand new appliances, new floor coverings & freshly painted throughout. Walk out from dining area to fully fenced backyard with patio. One-car garage plus RV or 2nd vehicle parking. Automatic sprinkler system. Close to Hill AFB and Layton Hills Mall. 3 bedrooms, 1 bathroom, approx. 1526 square feet, .19 acre lot, built in 1969. Crestview Elementary, North Davis Preparatory Academy Charter School, Central Davis Jr. High, Northridge High School. Hill AFB: 5 minutes, Light Rail Station: 7 minutes, Ogden Historic District: 19 minutes, … (1 comments)

sellers: Showing Feedback, Agency Relationships & Pet Peeves - 06/01/09 12:29 PM

Disclaimer: I use an internet feedback service, FeedbackCentral.com, to obtain input from Buyer's Agents after showing one of my client's homes. This allows the Buyer's Agent the option to uninhibitably hit "delete" if they do not wish to respond, and provides a venue that satisfies my clients' desire to know what potential buyers, and their agents, think about their home in comparison to others that they've just seen.
My #1 Policy: I represent the buyer, so I am not going to share anything with the seller's agent that may negatively affect my client's negotiating strength (just in case they make an offer on the home). I have used a feedback … (8 comments)

sellers: Using First Time Homebuyer Tax Credits with Your FHA Loan - 05/29/09 04:07 AM

Just Announced! HUD Rolls Out Plan To 'Monetize' Tax Credit For FHA Loans
Just Published! Mortgagee Letter HUD 09-15ml Using First Time Homebuyer Tax Credits
Here's the bad news "However, amounts advanced by FHA lenders cannot be used to meet FHA's minimum 3.5% down payment due to a new federal housing law that bars such lenders from assisting borrowers with their down payment. FHA borrowers may use the money to increase the size of their down payment above the 3.5% minimum or toward closing costs."
The good news is that it can be used for closing costs, which is often times … (1 comments)

sellers: HUD Secretary Shaun Donovan Giveth & Taketh Away - 05/28/09 04:41 AM

On Tuesday, May 12, 2009 HUD Secretary Shaun Donovan gave a speech at the National Association of Realtors Real Estate Summit - Advancing the U.S. Economy at which he announced:
...We all want to enable FHA consumers to access the tax credit funds when they close on their home loans so that the cash can be used as a downpayment. So FHA will permit trusted FHA-approved lenders and HUD-approved nonprofits, as well as state and local governmental entities to "monetize" the tax credit through short-term bridge loans...
Click here to hear for yourself (fast forward to minutes 4:33 - 5:14)
Just a … (0 comments)

sellers: Right & Wrong(ed) Use of Limited Agency - 05/26/09 07:34 AM

A fellow Realtor(R) recently told me a very sad tale. He lost a probable Buyer Client because she walked in to a builder's model home on a Sunday and executed a Real Estate Purchase Contract with the agent on duty. This builder's agent disclosed his agency relationship with the buyer as a "Limited Agent", but did not have a corresponding Buyer Agency Agreement with her. Making matters worse (for the Buyer), was that the builder's agent was actually a co-agent ... the "other" listing agent was also the builder! Had the builder's agent handled the situation correctly, the Buyer would certainly have … (1 comments)

sellers: ARRA Financial Assistance for Active Duty Military Who Are Selling Their Home - 05/24/09 01:15 PM

DoD Announces $555 Million Expansion To Homeowners Assistance Program re: HAP
Finally, a financial benefit for Active Duty Military who are struggling to sell their home in today's tumultuous real estate market.
You may be eligible if:
You have Military PCS orders dated 1 Feb 2006 to 31 Dec 2009 Your were the Owner/Occupant of your home prior to 1 Jul 2006 You have experienced 10% or greater loss of home value and county value Retirees are not eligible You must relocate at least 50 miles - installation to installation or home to installation You are/were the Owner/Occupant of your home on your PCS … (0 comments)

sellers: SOLD!!! $225,000 ... 663 W. 2050 North, Clinton, UT 84015 Yale Crest Community - 01/21/09 07:12 AM

Eligible for $1,250 Buyer Bonus! Whether you’re downsizing or a growing family, this home is the perfect one for you. Kitchen with granite countertops, double sized pantry and large dining area. Professional 3-tone paint. 15’x22’' covered patio just off the family room. RV parking with drain. Detached 3rd car garage. Attached two car garage with 220 wired workshop. 5 bedrooms, 3 full bathrooms, approx. 2383 square feet, mostly finished basement, .18 acre lot, fenced backyard, built in 1998. Home faces north. Sunset Elementary, North Davis Preparatory Academy Charter School, Sunset Jr. High, Northridge High School. Light Rail Station: 8 minutes, Hill … (0 comments)

sellers: SOLD!!! $239,900 ... 763 W. 2275 North, Layton, UT 84041 Willow Bend Community - 01/21/09 04:47 AM

Eligible for $1,250 Buyer Bonus! Mature Willow Bend community. Open floor plan features wide hallways & doorways, tile floors, main level laundry and very few exterior steps. Formal living room plus an office. Spacious, open kitchen with big pantry. Economical lawn care & snow removal services available. No HOA fees. 2 bedrooms, 2 bathrooms, approx. 1536 square feet, partly finished basement for lots of storage space, small .15 acre lot, fenced backyard, built in 1997. Home faces north. Lincoln Elementary, North Davis Preparatory Academy Charter School, North Layton Jr. High, Northridge High School. Light Rail Station: 10 minutes, Hill AFB: 3 … (0 comments)

sellers: SOLD!!! $478,500 ... 2276 E. 350 North, Layton, UT 84040 Chadwick Farms Community - 01/21/09 03:46 AM

Eligible for $1,750 Buyer Bonus! Private, upscale community near the Layton/Kaysville border. Incredible views of the mountains, lake & valley. Kitchen with granite countertops, island. Formal living room & dining room, private office on the main floor. Laundry on bedroom level. Ideal layout in basement for home theater. 5 bedrooms (4 upstairs with guest bedroom downstairs), 4 bathrooms, approx. 4460 square feet, fully finished basement, 3-car garage, .28 acre lot, fully fenced, built in 2005. Home faces north. Whitesides Elementary, North Davis Preparatory Academy Charter School, Central Davis Jr. High, Layton High School. Light Rail Station: 8 minutes, Hill AFB: 13 … (0 comments)

sellers: A Marketing Strategy That Works ... Step 5 "An Incentive for Everyone a.k.a. Show Me The Money" - 01/21/09 03:35 AM

Step 1 ... "Admit that it is a Buyer's Market"
Step 2 ... "Price Your Home to Sell and Plan on Negotiating"
Step 3 ... "Target Realtors® Working with Ready, Willing and Able Buyers"
Step 4 ... "Make Waves and Just Say No to the Status Quo"
Step 5 ... "An Incentive for Everyone a.k.a. Show Me The Money"
The fifth and final component of the Marketing Strategy That Works are incentives. This segment is short, sweet and to the point.
1. Buyer ... I offer a cash bonus to the buyer at closing, ranging from $250 to $2,000, depending on the price of the home.
Who … (0 comments)

sellers: A Marketing Strategy That Works ... Step 4 "Make Waves and Just Say No to the Status Quo" - 01/21/09 03:32 AM

Step 1 ... "Admit that it is a Buyer's Market"
Step 2 ... "Price Your Home to Sell and Plan on Negotiating"
Step 3 ... "Target Realtors® Working with Ready, Willing and Able Buyers"
Step 4 ... "Make Waves and Just Say No to the Status Quo"
As of 6:04pm on January 2, 2009, there were 4,183 active MLS listings for homes for sale in Davis and Weber Counties, Utah, 601 homes under contract and 1,211 that have sold in the last 90 days. That means that we currently have 9 months and 1 week worth of "inventory" on the market … (0 comments)

sellers: A Marketing Strategy That Works ... Step 3 "Target Realtors® Working with Ready, Willing and Able Buyers" - 01/21/09 03:30 AM

Step 1 ... "Admit that it is a Buyer's Market"
Step 2 ... "Price your Home to Sell and Plan on Negotiating"
Step 3 ... "Target Realtors® Working with Ready, Willing and Able Buyers"
The MLS remarks section is ground zero for distinguishing my client's homes from the hundreds of others on the market. Trite descriptions are ineffective and puffery is simply annoying to other agents when it is in the MLS. This is the place where I have the opportunity to tell other agents why my client's home should "make the cut" when they are screening houses to show their … (0 comments)

sellers: A Marketing Strategy That Works ... Step 2 "Price your Home to Sell and Plan on Negotiating" - 01/21/09 03:21 AM

Step 1 ... "Admit that it is a Buyer's Market"
Step 2 ... "Price your Home to Sell and Plan on Negotiating"
Price your home to sell ... When I prepare my pre-listing market evaluation for my clients, I assess the "current" market value using the following criteria:
1. I use sold comparables no older than 90 days, the more recent the better, and then adjust for the appreciation/depreciation rate for the most recent quarterly statistics for the community. Since distressed sales (short sales and foreclosures) are so prevelent right now, I incorporate these comparables according to their percentage of the market.
… (0 comments)

sellers: A Marketing Strategy That Works ... Step 1 "Admit That It Is A Buyer's Market" - 01/21/09 03:15 AM

I have spent a great deal of time analyzing what is happening in our local real estate market. Here is a summary of my research based on MLS data, discussions with other agents and the feedback I've received from my own buyer clientele.
1.      Buyers absolutely will NOT buy a home right now unless the BUYER feels that it is an UNBELIEVABLY PHENOMENAL "deal".
2.      Buyers EXPECT sellers to pay their closing costs which are calculated at 3% of the purchase price.
3.      Buyers will WALK AWAY from any seller counteroffers that in any way indicate that the seller is trying … (0 comments)

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