Monday, November 2, 2009
Alot of changes to tax credits
There still is 80 grants for new construction purchases and the 8,000 tax credit will be extended until the end of March. There is also a possibility of a 6,500 tax credit for anyone looking to buy a new home next year
Tuesday, August 25, 2009
Real Estate market still busy
Remember, if your a first time home buyers the 8,000 tax credit runs out Nov 30 2009. A first time home owner is classified as someone who has not owned a home in the last 3 years. Some poeple think that this credit will continue, based on the response to the success of the other Obama plans I will have to say this is it. Buy now don't wait til the last minute to cash in on this oppurtunity
Monday, August 3, 2009
A great time to buy
It is a perfect time to buy your new home. Interest rates are still at an all time low and the 8,000 tax credit is still available until until november. Rental prices are starting to climb again with people unsure of what the future brings.
Friday, June 12, 2009
Utah Housing interest rates
Utah housing has fantastic rates for first time home buyers, They will also allow you to finance all of your closing costs and down payment. Rates today are 5.375 which are actually better that FHA rates
Monday, June 1, 2009
8,000 is now available for down payment or closing
Just posted today. The 8,000 tax credit is now available to be used towards your down payment or closing costs. This is fantastic news for all first time homebuyers.
Wednesday, May 13, 2009
great news for 1st time byers
HUGE ANNOUNCEMENT!!!
Home buyers qualifying for Federal Housing Administration-insured mortgages may soon use the new first-time home buyer $8,000 tax credit as a down payment, US Department of Housing and Urban Development secretary Shaun Donovan said today.The process of applying the tax credit toward down payment, called 'monetization' in the industry, allows for FHA-qualified borrowers to use the tax credit to obtain a government-insured mortgage.Donovan's announcement came at a National Association of Realtors legislative summit this morning, although HUD's details on the initiative aren't scheduled for official release until next week. The initiative will allow FHA-approved lenders to monetize the tax credit through short-term bridge loans, letting borrowers access the funds at the closing table."We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan said, according to NAR.The tax credit arrived as part of the American Recovery and Reinvestment Act of 2009 for qualifying taxpayers that buy homes in 2009. The law states that qualifying home buyers may claim up to $8,000 - or $4,000 for married individuals filing separately - on either their 2008 or 2009 tax returns. Unlike the previous law - which required recipients of the tax credit to repay the funds over a number of years without interest - the new home buyer credit effective with the passage of the act does not have to be repaid.
Home buyers qualifying for Federal Housing Administration-insured mortgages may soon use the new first-time home buyer $8,000 tax credit as a down payment, US Department of Housing and Urban Development secretary Shaun Donovan said today.The process of applying the tax credit toward down payment, called 'monetization' in the industry, allows for FHA-qualified borrowers to use the tax credit to obtain a government-insured mortgage.Donovan's announcement came at a National Association of Realtors legislative summit this morning, although HUD's details on the initiative aren't scheduled for official release until next week. The initiative will allow FHA-approved lenders to monetize the tax credit through short-term bridge loans, letting borrowers access the funds at the closing table."We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan said, according to NAR.The tax credit arrived as part of the American Recovery and Reinvestment Act of 2009 for qualifying taxpayers that buy homes in 2009. The law states that qualifying home buyers may claim up to $8,000 - or $4,000 for married individuals filing separately - on either their 2008 or 2009 tax returns. Unlike the previous law - which required recipients of the tax credit to repay the funds over a number of years without interest - the new home buyer credit effective with the passage of the act does not have to be repaid.
Tuesday, May 12, 2009
top 5 mistakes sellers make
This is an excellant article from MSN, the top 5 mistakes sellers make:
1. Thinking your home is the exception: It's natural to be emotionally attached to your home, especially if you've lived there a long time. But allowing this affection to obscure the realities of today's real-estate market is a serious mistake. If your local market is declining in value, you'll need to price your home at a compelling level. That will require a painful decision: to price the property at or below comparable homes in the area, even if the price point is less than what you think your home is worth. "There are still sellers out there who think that their house is the exception," says Judy Moore of Re/Max Landmark Realtors in Lexington, Mass. "They think that the other houses that are on the market are really overpriced, yet when you get to their house, they think that it should have a higher price because it is better." Overpricing a home because of an emotional attachment only makes selling it that much more difficult.
2. Not scouting the competition: Another reason sellers might price a home too high is that they're simply unaware of the dynamics of their real-estate market. To sell your home, it's essential to have a firm grasp on the conditions in your area. Sellers should study the pricing trends and sales data in their local market. But the data tell only half of the story. To fully understand the market, sellers should get a first-hand look at the nearby homes that are also up for sale. "I would recommend my sellers go look at open houses so they see how [their homes] really compare," says Ron Phipps, a broker with Phipps Realty in Warwick, R.I.
3. Not checking your agent's references: An effective, experienced real-estate agent can be a big help in selling your home in today's sluggish market. But finding such a broker may not be easy. "[Real-estate] agencies these days are pinching pennies, too," says Joshua Dorkin, founder and chief executive of BiggerPockets.com, a real-estate networking and information site. "A lot of them think you can just put something on Craigslist and it [will] sell, and that's not how it works anymore." To ensure you're doing business with a solid real-estate professional, contact some of his or her previous clients and ask about their experience.
4. Not prepping the property: Since buyers have many options these days, home sellers need to ensure that their property is in tip-top condition for showings. That means making any and all home repairs, ensuring that the indoor and outdoor portions of the property are immaculate, and removing clutter. "It is a very picky buyer right now, and they are ready to seize on any little thing that they see," says Elizabeth Blakeslee of Coldwell Banker Residential Brokerage in Washington, D.C. "You want your house to look cared for."
5. Being present during open houses: It's important for the sellers to be away from the home during open houses, as their presence can be unnerving to would-be buyers. "Some sellers have the mistaken idea that they are the best people to sell their house, and that is absolutely not the case," Blakeslee says. If a seller remains at home during an open house, she says, "buyers will have an uneasy feeling, and that is the feeling that they will take away from the house."
Home affordability calculator
Yearly gross income $
Monthly debt payments $
Cash available for purchase $
6. Taking negotiations personally: The negotiation process can be tough on sellers, as buyers may demand concessions such as price reductions or help with closing costs. Although such requests might be irksome, it's important that sellers consider them just another part of a business transaction. "It is not meant to be personal; the buyer is looking to buy as carefully as they can and pay as little as they can," Phipps says. "It is not about you, it is about them."
7. Sneering at offers: Even if you aren't crazy about a buyer's offer, don't dismiss it out of hand. "You need to be willing to negotiate with anyone and everyone who puts in an offer, even if it is one of those low-ball offers," Dorkin says. "Don't ignore it, because those people might really want the property."
1. Thinking your home is the exception: It's natural to be emotionally attached to your home, especially if you've lived there a long time. But allowing this affection to obscure the realities of today's real-estate market is a serious mistake. If your local market is declining in value, you'll need to price your home at a compelling level. That will require a painful decision: to price the property at or below comparable homes in the area, even if the price point is less than what you think your home is worth. "There are still sellers out there who think that their house is the exception," says Judy Moore of Re/Max Landmark Realtors in Lexington, Mass. "They think that the other houses that are on the market are really overpriced, yet when you get to their house, they think that it should have a higher price because it is better." Overpricing a home because of an emotional attachment only makes selling it that much more difficult.
2. Not scouting the competition: Another reason sellers might price a home too high is that they're simply unaware of the dynamics of their real-estate market. To sell your home, it's essential to have a firm grasp on the conditions in your area. Sellers should study the pricing trends and sales data in their local market. But the data tell only half of the story. To fully understand the market, sellers should get a first-hand look at the nearby homes that are also up for sale. "I would recommend my sellers go look at open houses so they see how [their homes] really compare," says Ron Phipps, a broker with Phipps Realty in Warwick, R.I.
3. Not checking your agent's references: An effective, experienced real-estate agent can be a big help in selling your home in today's sluggish market. But finding such a broker may not be easy. "[Real-estate] agencies these days are pinching pennies, too," says Joshua Dorkin, founder and chief executive of BiggerPockets.com, a real-estate networking and information site. "A lot of them think you can just put something on Craigslist and it [will] sell, and that's not how it works anymore." To ensure you're doing business with a solid real-estate professional, contact some of his or her previous clients and ask about their experience.
4. Not prepping the property: Since buyers have many options these days, home sellers need to ensure that their property is in tip-top condition for showings. That means making any and all home repairs, ensuring that the indoor and outdoor portions of the property are immaculate, and removing clutter. "It is a very picky buyer right now, and they are ready to seize on any little thing that they see," says Elizabeth Blakeslee of Coldwell Banker Residential Brokerage in Washington, D.C. "You want your house to look cared for."
5. Being present during open houses: It's important for the sellers to be away from the home during open houses, as their presence can be unnerving to would-be buyers. "Some sellers have the mistaken idea that they are the best people to sell their house, and that is absolutely not the case," Blakeslee says. If a seller remains at home during an open house, she says, "buyers will have an uneasy feeling, and that is the feeling that they will take away from the house."
Home affordability calculator
Yearly gross income $
Monthly debt payments $
Cash available for purchase $
6. Taking negotiations personally: The negotiation process can be tough on sellers, as buyers may demand concessions such as price reductions or help with closing costs. Although such requests might be irksome, it's important that sellers consider them just another part of a business transaction. "It is not meant to be personal; the buyer is looking to buy as carefully as they can and pay as little as they can," Phipps says. "It is not about you, it is about them."
7. Sneering at offers: Even if you aren't crazy about a buyer's offer, don't dismiss it out of hand. "You need to be willing to negotiate with anyone and everyone who puts in an offer, even if it is one of those low-ball offers," Dorkin says. "Don't ignore it, because those people might really want the property."
Wednesday, May 6, 2009
Real Estate market in Utah
My opinion,
The market is really hot with many people looking to sell, as the school year comes to a close. It is a buyers market, with interest rates still hovering around 5%. Most people looking to sell are willing to give up a little on the sale of their home, hoping to get a better return on the home they are buying. People are looking to move while the kids are out of school, not to mention the warm weather.
If you have a question or would like some help buying or selling give me a call!!!
The market is really hot with many people looking to sell, as the school year comes to a close. It is a buyers market, with interest rates still hovering around 5%. Most people looking to sell are willing to give up a little on the sale of their home, hoping to get a better return on the home they are buying. People are looking to move while the kids are out of school, not to mention the warm weather.
If you have a question or would like some help buying or selling give me a call!!!
Tuesday, April 28, 2009
Excellant Time to Purchase a home
Interst rates are still exceptionally low. I have recieved rate quotes today at 4.875%. If you have questions chances are I have answers, give me a call with any questions, or help in purchasing a new home.
Wednesday, April 1, 2009
Optimize the selling potential of your home
Here are a few items that will help in promoting your home.
Atmosphere
Create a warm and welcome feel in your home for buyers. Make sure the temperature in your home is comfortable; cooler in the summer, warmer in the winter. If your home has a fireplace turn it on, this will make it seem warm and inviting.
Appearance
Clean everything!!!!!!!!!!!!!!!!!!!!!
Cleanliness signals to the buyer that the home is well cared for and in good repair.
Let in the fresh air.
Get rid of smells that are unpleasant or unfamiliar. Most people are offended by tobacco,pets,cooking and old laundry. I recommend if you have time, make some cookies for the prospective buyers. You not only get the smell but it serves as a reminder to the buyer.
Open the drapes.
Raise the shades and open the blinds. bright rooms feel larger and are more inviting
Just a little info to help in selling your home.
Another piece of advice: I'd call me to help
Atmosphere
Create a warm and welcome feel in your home for buyers. Make sure the temperature in your home is comfortable; cooler in the summer, warmer in the winter. If your home has a fireplace turn it on, this will make it seem warm and inviting.
Appearance
Clean everything!!!!!!!!!!!!!!!!!!!!!
Cleanliness signals to the buyer that the home is well cared for and in good repair.
Let in the fresh air.
Get rid of smells that are unpleasant or unfamiliar. Most people are offended by tobacco,pets,cooking and old laundry. I recommend if you have time, make some cookies for the prospective buyers. You not only get the smell but it serves as a reminder to the buyer.
Open the drapes.
Raise the shades and open the blinds. bright rooms feel larger and are more inviting
Just a little info to help in selling your home.
Another piece of advice: I'd call me to help
Tuesday, March 24, 2009
FHA Update
I have had a lot of questions lately about streamline refinances for FHA loans. These are a truly great product if you are currently in an FHA loan. Here are a few points that I'd like to point out to help you in your decision as to whether or not your should do a streamline refinance.
1. There is no origination, appraisal, processing or underwriting fees which makes your costs a lot lower.
2. The lender doesn't re-verify your income or most other items on your application so there is very little effort on your part.
3. Depending on how long you've had your loan, you usually won't have to come in with much more than one month's payment and FHA will refund a portion of your up-front mortgage insurance and put it to your new loan. If you've had the loan for a while, there's a good chance you won't have to come in with anything. You also typically get to skip a month's payment after the refinance so many borrowers find that it's worth it.
4. Current rate for a fairly straight forward streamline refinance is around 5.5%. There are credit score requirements and other underwriting guidelines in order to get that rate, but if you have good credit your rate would be right around there. Please let me know if you have any more questions about refinancing.
Friday, March 20, 2009
Governor Huntsman has just signed a bill giving anyone who purchases a new construction home $6,000! This is in addition to the $8,000 First Time Home Buyer's Grant from the Federal government.
Interest rates are BELOW 5%.
NOW is an excellent time to purchase!
For more information on this bill, click here:
http://www.ksl.com/index.php?nid=148&sid=5904617
Interest rates are BELOW 5%.
NOW is an excellent time to purchase!
For more information on this bill, click here:
http://www.ksl.com/index.php?nid=148&sid=5904617
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