Utah County Real Estate - Positive Mental Attitude (PMA ) in a Negative Market. It is so important to stay positive in today's Real Estate market.  We have grown accustomed to a volatile market.  Homes sales seem to follow right along with how the DOW is going.  But we need to maintain a positive attitude, Realtor's as well as Home buyers and sellers. We each need to cheer the other one up and keep things going.  I have found that I have my best success during bad times.  So many of my fellow Real Estate agents get caught up in how bad things are going that they go right with the flow.  We need to set ourselves apart from those who get themselves down.  It is important to follow a couple of simple guidelines. •·         Make sure you always have a smile on your face.  This will at least... 08/12/2010

Utah County Homes for Sale - Buyer Agent Commission (BAC) One of the most often used marketing tricks that Listing agents use to attract home buyers is a Buyer Agent Commission (BAC) that is larger than what is generally offered.  Generally speaking most home sellers offer a commission of 6 percent to the agents that assist to sell their homes.  Half of the commission or 3 percent goes to the agent that listed the home for sale.  The other 3 percent goes to the agent who represents the buyer in the transaction.  By offering an inflated BAC, the listing agent is hoping that the agent representing the buyer will show their home before the home that only has a 3 percent commission. Home Buyers Beware Home buyers need to understand that sometimes their agent may be motivated to show them a ... 08/08/2010

Utah County Homes for Sale - Final Walk Through Inspection The final step in the purchase process prior to closing is the Final Walk through Inspection.  Every home buyer should revisit the property to ensure it is in the condition you required in your offer, and to inspect that any required repairs have been performed.  Final inspection should be no sooner than five days before you intend to close.  Make sure this right to do a final inspection is included in your offer to purchase. Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah Homes For Sale  Provo Real Estate WS  Orem Real Estate WS  Utah Homes 4 Sale  Alpine Real Estate  Alpine Real Estate  Cedar Hills Real Estate   Highland Real Estate  Eagle Mountain Real Estate   Springville Real Estate   Utah County R... 07/29/2010

Utah County Real Estate - Home Warranty, Home Buyer Protection Plan As a Realtor who represents the Home Buyer, I have found through the years, the Home Warranty to be a very important factor in the home purchase process.  The last thing a new home buyer wants to worry about after closing is the possibility of something breaking down.  There are many things that could go wrong, for peace of mind; it would be a good idea to get a home protection plan.  I believe it is especially important for First-time home buyers, with little experience maintaining a home. Generally the Seller pays for the Home Protection plan and Home Warranty coverage.  This is not only a benefit for the Home Buyer, but it also protects the Seller, because the home buyer won't be calling and bothering him when things... 07/28/2010

Sold Real Estate in Pleasant Grove stayed about the same but price dropped.  Median price of Pleasant Grove homes decreased 21% and average price dropped 17%.  07/21/2010

Utah County Homes for Sale - Home Buyer Representation During the past 25 or so years, home buyers have been able to choose between Buyer agents or the Sellers agent representing the Seller, to buy a home from. Many buyers didn't even know that they could use a buyer agent or even if they were available. Most home buyers assumed the agent showing the home represented them. Seller agents were obligated to represent the seller's interest unless they had a separate written agreement with the buyer to represent them. The FTC did a study of the Real Estate brokerage industry in 1983 and determined that most home buyers actually thought that the Real Estate agent showing them homes was working in their best interest, the vast majority were wrong. The FTC started putting pressure on the states... 07/15/2010

Utah County Homes for Sale - Loan Application and Documentation When it comes time to purchase new home, your first step in the purchase process is to get pre-qualified for your home loan.  Once you contact a Mortgage loan officer, he will ask you to fill out a Mortgage Loan Application (1003) and supply him with documentation.  The documentation required will vary, but generally you will supply the following: •·         Federal income tax statements and verification of any additional income •·         You're two most recent W2's •·         Current paycheck stubs •·         Recent bank statements Asset and liability information (stocks, bonds, other real estate, etc.) Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah Homes For Sale  Provo Real Estate WS  Orem Rea... 06/29/2010

Energy Audits for Historical Buildings like the Pleasant Grove Town Hall in Pleasant Grove, Utah | Information gathered from any Utah energy audits in the Historic Areas of Utah County, Utah will be used to determine energy efficiency, retrofitting and weatherization projects using funds from the Energy Efficiency and Conservation Block Grants (EECBG). Retrofitting projects will include air infiltration, energy efficient windows and doors, insulation levels, weather-stripping and caulking, and electric base loads.   Using its EECBG formula funding to retrofit and improve the energy efficiency of a number of it's municipal buildings that will result in substantial reduction in energy usage. EECBG Formula grants can be used for energy efficiency and conservation programs and projects comm... 06/22/2010

Energy Audits for Historical Buildings like the Pleasant Grove School in Pleasant Grove, Utah | Information gathered from any Utah energy audits in the Historic Areas of Utah County, Utah will be used to determine energy efficiency, retrofitting and weatherization projects using funds from the Energy Efficiency and Conservation Block Grants (EECBG). Retrofitting projects will include air infiltration, energy efficient windows and doors, insulation levels, weather-stripping and caulking, and electric base loads.   Using its EECBG formula funding to retrofit and improve the energy efficiency of a number of it's municipal buildings that will result in substantial reduction in energy usage. EECBG Formula grants can be used for energy efficiency and conservation programs and projects communi... 06/22/2010

Utah County Real Estate - Taking Possession The Real Estate transaction is considered "closed" once the deeds have been recorded with the County.  You then own the home.  However, it is not always possible for you to occupy it immediately.  It is customary to allow the seller up to a maximum of three days to turn over actual possession and keys to the home. When the transfer of possession actually occurs should be clearly laid out in your offer to purchase to prevent confusion later. Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah Homes For Sale  Provo Real Estate WS  Orem Real Estate WS  Utah Homes 4 Sale  Alpine Real Estate  Alpine Real Estate  Cedar Hills Real Estate   Highland Real Estate  Eagle Mountain Real Estate   Springville Real Estate   Utah County R... 06/17/2010

Utah County Homes for Sale - Taking Possession The Real Estate transaction is considered "closed" once the deeds have been recorded with the County.  You then own the home.  However, it is not always possible for you to occupy it immediately.  It is customary to allow the seller up to a maximum of three days to turn over actual possession and keys to the home. When the transfer of possession actually occurs should be clearly laid out in your offer to purchase to prevent confusion later. Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah Homes For Sale  Provo Real Estate WS  Orem Real Estate WS  Utah Homes 4 Sale  Alpine Real Estate  Alpine Real Estate  Cedar Hills Real Estate   Highland Real Estate  Eagle Mountain Real Estate   Springville Real Estate   Utah Count... 05/29/2010

Like many other cities in the county, Pleasant Grove real estate experienced a solid increase up through 2007 then decreased in 2008.  Sold homes in Pleasant Grove increased again in 2009 so increasing numbers have definitely been the standard over the past ten years.  Sold price of Pleasant Grove homes has seen mostly increases over the years as well but a slight decrease has happened over the past two years. 05/26/2010

Utah County Homes for Sale - Short Sale The time to consider a Short Sale is when your Mortgage is considered to be in default, one or more payments have been missed.  There are a number of solutions available to remedy the situation: •·          Short Sale/Payoff •·          Forbearance agreement •·          Loan Modification •·          Deed in Lieu of Foreclosure A Short Sale occurs when a borrower sells their property for an amount that is less than the amount owed to the lender.  To qualify for assistance the borrower needs to prove that they are experiencing a substantial financial hardship.  A hardship is a situation that has life changing effect for the borrower that results in an in-ability to pay the mortgage debt in either, short or long term: •·          Separation or Divorc... 05/19/2010

Utah County Real Estate - Refinance or Purchase With the Utah County real estate market going through all the changes it is presently going through, many new questions start to come up.  Should I buy a new home?  Should I re-finance my present home?  Should I rent out my present home and Upgrade to a new home?  The scenario I see quite often these days is the later.  Many of my home buyers are looking into renting their present home due to the high demand that there is for rentals.  Once they find a good qualified renter, the next step is to take advantage of the great deals available on new homes and the low interest rates that make it possible to upgrade and keep their payment reasonable. The re-finance scenario is more difficult to accomplish, due to the decline in the home values an... 05/10/2010

Utah County Real Estate - Loan Origination and Discount Points Origination points are a fee paid to the originating lender which is part of the profit margin for the services that they provide.  Both are measured as a percentage of the loan amount and both are factored into the loans APR.  Generally, points are deductible as long as the seller didn't pay for them and origination fees are tax deductible provided they are expressed as a percentage. Discount points enable you to lower your loans interest rate.  They are basically prepaid interest, with each point equaling 1 % of the total loan amount.  When you pay a point on a 30 year mortgage, you can lower your interest rate by .125 of a percentage point.  When comparing loan rates, ask lenders for an interest rate with 0 points and the... 04/14/2010

Utah County Real Estate - Short Sale What is a Short Sale? With the present Real Estate market in turmoil and many home owners are having a hard time trying to sell their home, because they owe more than it is worth.  I keep getting the question from my buyers about what is a Short Sale and how does it work?  Well I will try and address that question here.  I hope I am accurate, I am sure I will hear about it if I am not. What is a Short Sale? A Short Sale occurs when a property sells for a price that is insufficient to pay back the loans secured by the property (or any other liens against the property, such as delinquent property taxes, Homeowners/Condominium Association fees, etc.), as well as standard sales closing costs.  In order to complete such a sale, the Seller must either: •· ... 04/02/2010

Annual Percentage Rate (APR) and Utah County Homes for Sale As a Loan Officer here in Utah County, I have found that many consumers don't fully understand the term Annual Percentage Rate.  Probably no other disclosure is as baffling to the average consumer as APR is.  Few understand how the APR can be higher than the interest rate.  The APR is the finance charge expressed as a numerical percentage, which is an expression of the annualized finance charge.  The APR includes the interest rate plus all of those items that are included in the finance charge. Although few mortgage lenders actually do it, lenders are required to disclose the APR when inquiries are made orally.  The APR also has to be fully disclosed on any advertising materials.  Search Utah MLS Listings Utah County Real Estat... 02/01/2010

A lot has been said about the Federal Housing Tax Credit. This is a great program that allows borrowers to get into homes. How it works: First time home buyers purchase a home before April 30, 2010 You get up to $8,000 depending of the value of your home. This video will help explain how this program can benefit you. Here is some FAQ about this program: Tax Credit FAQ To learn more Contact Kyle at 801-753-8886 www.KyleCastle.com 01/20/2010

We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.    SUMMARY Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperien... 11/08/2009

Utah County Home Seller Motivation (Motivated Seller) - Utah County Real Estate Utah County Home Seller Motivation can have a dramatic effect on the price of the home.  The most common "Motivated Seller" is someone who has already bought his or her next home or is relocating to a new area.  They will be under the gun to sell the Utah County Home quickly or face the prospect of making two mortgage payments at the same time.  Since that can drain a bank quickly, most sellers want to avoid such a situation and may be willing to give up thousands of dollars to avoid the possibility. Family crises can be a motivation for a Utah County Seller to make a quick deal.  However, when you see a real estate ad that mentions, divorce, motivated seller, relocation, or something to that affect, beware.... 09/14/2009