Provo Real Estate, 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: Come to the closing w... 11/02/2008

Utah County Real Estate Strong Future Home Demand Despite the fact that we have housing problems throughout the country, Utah has a few points of interest which make the prospect for tuture home demand strong.  Utah's strong job growth and wage appreciation has landed It as the envy of the country.  Utah leads the nation in many other indicators that will contribute to continued job and wage growth. Strong high school graduation rate of 76.7% of their students, compared to a national average of 69.6%. College graduation rate is sixth in the country. Home ownership rate is near 70%. Utah is the only state where the home ownership rate has never fallen below 60%.  These factors help build a culture of success, and we know that success is contagious. Another statistic that Utah leads the c... 11/01/2008

The good news is that the Prove real estate market is about the most healthy market in Utah County. The bad news is that Utah County Real Estate is really unhealthy. From the second quarter results, Provo has nearly 10 months of active real estate inventory. There is also a huge difference in average list price vs. sold price. The average home that has sold in Provo in the first half of 2008 has sold for 34% less than the average list price. This huge disparity most likely reflects a high surplus of multi million dollar homes for sale, as the difference between median sold price and median listing price is only 12%. Nevertheless, the median price of the 350 homes that have sold in Provo is $196,500. The median list price of homes for sale in Provo is $222,900. With the exception of the ... 07/17/2008

Proper screening avoids a lot of problems.  I tell plenty of people that their application is denied.  It saves me a lot of problems later and protects my properties and the owners from expensive repairs.  It sounds harsh but I can't care about everyone's problems.  If they have to explain their situation to me I most likely will not rent to them.  I'm not willing to make other peoples problems my problem by taking them on as a tenant. A good way of finding out if a tenant will be a problem is by letting them talk.  A lot of renters don't realize landlords are essentially looking at a renter as a business partner.  They think landlords are in the business of providing housing.  That is not the case.  Landlords are in the business of making money from cash flow and appreciation.  This ca... 06/24/2008

I just thought that this was interesting. It looks like the median value of home is Utah county and Salt Lake county are still rocketing upward.  I love living in this area of the country, and I am excited moving into 2007 for the growth that we are going to exoerience here.  I am trying my best to position myself to be a trusted advisor and to make sure that I am up to date on all the latest products and lenders in the market to provide my clients with the best information possible. http://extras.sltrib.com/HomePrices/Index.asp?County=Utah  03/02/2007