By:  Robert A. Hulme - Realtor - Loan Officer Generally speaking the number one criterion a Mortgage lender considers when qualifying a Home Buyer for a mortgage loan is a good Credit Score.  The higher Credit Score, usually the lower the Interest Rate.  Other factors are obviously considered when determining the interest rate, but all lenders look at the Credit Score first.  That being said, it is very important to understand how you maintain or improve your Credit Score before applying for a Home Loan. There are no quick fixes for improving your credit score, but you can raise your score over time by demonstrating that you consistently manage your finances responsibly.  Listed below you will find a number of tips that you should consider when attempting to raise your credit score. •· ... 01/08/2009

By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent Are you a present Home Buyer Candidate?  How you been waiting for the perfect time to buy a home?  Well your time is now, at no other time in recent memory has the real estate market been at a point where you had nothing to lose, and everything to gain.  As a full-time Home Buyer Representative, I too like this kind of Home Buyer market.  There are so many opportunities out there for my clients that I feel like a little kid in a candy store. A Home Buyer market comes at a time when the supply of homes for sale exceeds the demand to buy those home... 01/07/2009

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.  On a year over year, YTD comparison currently (18.35)% of new listings are being sold.        SUMMARY Currently we are not seeing the needed positive price action (along with other indictors) to confirm a market bottom.  This is NOT a good time for conservative buyers to purchase.  High risk tolerant investors and speculators are doing some bottom fishing. For more details or just to chat about market conditions please feel f... 01/07/2009

By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent 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 buy... 12/24/2008

By: Robert A. Hulme - Loan Officer - Realtor With the Federal Reserve cutting the interest rate to an all-time low and Mortgage rates should follow.  Mort gage rates are fast approaching all-time low status as well.  I believe we will continue to see this trend throughout the New Year.  With 30 year rates hovering around 5%, many first time home buyers and investors are considering coming out of the closest.  Should home buyer take action now, or should they wait for further lowering of Mortgage rates?  My belief is that rates will go lower but not much, so what advantage would the home buyer have of waiting for the quarter or half percent that might come.  Now is the time to take action. With an abundance of short sale and bank owned properties on the market, the combination of lower r... 12/17/2008

By: Robert A. Hulme - Realtor - Loan Officer Technology has reached new levels for the Realtor in today's Virtual World.  The home buyer can actually sit in the comfort of their present home and view all future homes just as if they were actually there.  I am just amazed where technology has taken us. Internet Data Exchange (IDX) The Internet Data Exchange is a service available to real estate agents today to display their listings through internet feeds that bring the home search process to new levels.  Services are available to all real estate agents at a very reasonable price.  Realtors are able to actually bring their MLS listings to life. Virtual Earth Virtual Earth is a software program available through Microsoft, that provides Maps and Pictures of MLS listings that can be viewed... 12/12/2008

By: Robert A. Hulme - Loan Officer - Realtor Are you Elderly (Over 62 years of Age)?  Are you considering selling your home to get the money necessary to survive in your retirement?  The Reverse Mortgage (RM) may be a great alternative.  The RM was designed to enable older retired homeowners who are likely to be on fixed income to use the equity in their homes (Most likely totally paid for) as a source of supplemental income while still retaining ownership.  The RM program is available to homeowners who are 62 years of age, who own their home free and clear or nearly so and who wish to use the equity in their homes to cover part or all of their living expenses after retirement. The way the RM works is like this, a lender has the home appraised and then lends a certain percentage of the ... 12/11/2008

We still are having a low percent of new listings being SOLD.  Currently (19.86) % on a year over year, YTD comparison and we need positive % of listings sold, with positive price action to confirm market bottom. Please see data below.                                                                                  PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market) and lower new listings.           SUMMARY  Currently we are not seeing the needed positive price action to confirm a market bottom. This is NOT a good time for conservative buyers to purchase.  High risk tolerant investors and speculators are doing some bottom fishing. For more details or just to chat about market conditions please feel free to contact me. Thank you   12/08/2008

By: Robert A. Hulme - Realtor - Loan Officer When you first start shopping for a new home, usually you begin with a list of things that you must have.  Many times after you purchase your new home you find that your wish list of features did not quite add up to what you originally wanted. Most usually want basically the same house.  It might include 1200 - 1500 sq. ft., built within the last 5 years, open floor plan and vaulted ceilings.  Laundry Room on the first floor, garage, basement, Master Bedroom with a garden tub, Walk -In closet and a decent sized yard with some degree of privacy.  When you find it, you purchase it and you love it. Here is what happens within a week of moving in.  Both cars don't fit in the garage.  Two cars cannot park comfortably next to each other in the driv... 12/03/2008

By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent The Real Estate Purchase Contract involves more than just price.  You will have to discuss personal property possession, rent, tests, inspections, closing dates and more.  The one term that throws most buyers, especially first time buyers is Earnest Money Deposit.  What is it?  Why do I need to pay it?  Why do I have to pay so much? Not the Down Payment Many buyers show up to write their offer and announce to their agent that they do not have to put an earnest money deposit because they are getting down payment assistance or 100 percent financing... 12/02/2008

New Home Wants and Needs By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent There are many homes available in today's buyer market.  At times it may become difficult to find the right home.  There are some very beautiful homes, but which one is just right for you?  Here are some ideas to find the best home for you. •·         Write down everything that you want in a new home and everything you need (absolutely have to have).  Do you want a large kitchen?  What about an attic?  Do you want a back yard, but do you need a large back yard?  What about a driveway or a garage? •·         Write down wha... 12/01/2008

Home Buyer Representation - Buyer Agent vs. Seller Agent By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent 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 ... 11/15/2008

Understanding Mortgages, Getting the best Rate. By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent As a home buyer, it only makes sense to try and get the lowest rate possible when obtaining a Home Loan.  After all, the rate is the primary factor in determining your house payment.  But how do you get a low rate when applying for a home loan?  This is the primary question that most home buyers want to know.  I would like to explain some important ideas that you need to keep in mind. Credit Score One of the primary factors in helping to determine your interest rate is your credit score and financia... 11/14/2008

Common Buyer Mistakes - Utah County Real Estate By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent When it comes time to shop for a new home in Utah County, many new experiences start to happen.  It can be a very emotional time.  It can also be very time consuming and usually comes with a myriad of details.  Some buyers however, get caught up in the excitement of buying a new home that they tend to overlook some items.  Their home purchase turns into an expensive process.  Common mistakes generally fall into three areas. Paying too much Losing a dream home to another buyer Buying the wrong home W... 11/12/2008

Kitchen, Rated the Most Important Room by Buyers By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent As I travel with buyers in Utah County Real Estate home searches, my clients continue to emphasize to me the importance of their kitchen.  Homework is done there, games are played there, families gather there, business is done there, oh yeah, by the way, meals are served there too!  Here are some of the best features you need to look for in a kitchen. Cupboard and counter space continue to be at the top of the list.  Most kitchens look big until you start to put things away in it.  So you want to m... 11/10/2008

For Sale by Owner vs. Realtor By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent When it comes time to sell your home, one big decision needs to be made.  Can I sell my home by myself or should I use a Realtor?  Everybody wants to make as much money as they can when it comes time to sell their home, but it is necessary to maintain realistic expectations if there is to be a successful sale transaction.  The For Sale by Owner option is often perceived to be best way to make the highest profit when selling a home.  In theory, that makes a lot of sense, but there are so many variables that the result... 11/07/2008

Buying your First Home By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent Well the time has come; you are finally out making a good living.  You are beginning to get tired of paying rent, the number one advise that friends and family are giving you is, Buy a House.  By this time you are about to be hitched and have probably saved enough money for a down payment.  After a fair amount of thinking about it, you jump over the first hurdle and decide to go for it.  Now once you are focused about what you want you then jot down a list of things you want in a house.  That being done the search begins.  ... 11/06/2008

Home Selling Options Today, in Our Real Estate market, selling a home is not as easy as it has been in the past.  You may find yourself without a single interested buyer and forced to rethink how you want to approach your dilemma.  Sure, you could spend hundreds of dollars on marketing and advertising fees just to promote your home.  But at this point, it would be encouraging to cut your losses if you see no possible buyer in sight. Delay the sale of your home It is possible that today is not the right time to sell because of market conditions.  You could wait until the inventory of homes drop and the demand goes up.  Most of the time, spring it the best season to put up your house for sale. Refinance Maybe not the best option in this type of market due to the fact that most homes are n... 11/05/2008

To Buy or to Rent, that is the question? It is pretty much common knowledge that the current housing market is in turmoil all around the world.  Many couples, families and individuals who have planned to purchase homes and residential properties are putting off their plans to try and wait out the storm.  But the questions continue to come up every day, Should I rent? Or Should I buy?  Since many of the homes available today are priced less costly, many factors continue to be troublesome to home buyers, including falling general property values, security and fluctuating interest rates.  Due to these uneasy situations it is really logical and practical to tighten our belts and postpone any investment or acquisition transaction. The decision to buy or to rent a home should be influence by ... 11/04/2008

Utah County Real Estate - Buyers - Getting Pre Approved Buying your first home?  , maybe your second, well this can be a wonderful experience for you or this could be a disaster.  It all depends on how prepared you are when the process starts.  Your first step is getting Pre-Approved. Financing a home can be a difficult process for you, especially finding the right loan.  What you need to be concerned about is not getting the financing, but getting the right financing.  You will want to find the best terms at the lowest cost.  You will want to meet with a loan officer to review your financing options;  you will need to meet with a lender who can explain all of the different types of loans that you will be able to afford as well as the program that will help you meet your goals.  Once yo... 11/03/2008