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Provo, UT Real Estate News

By Katerina Gasset, Amplify Your Real Estate & Life Dreams!
(The Gasset Group & Get It Done For Me Virtual Services )
The first time I lived in Provo, Utah was in 1980. I was newly married with a young infant. We only lived here for a very short time before moving to be closer to family in California. Then we moved back to Provo in 1987, just seven years later. We lived here until 1990 before moving again to be closer to family — this time in Seattle, Washington. We eventually moved to Florida in 1995, and I lived there for the next 26 years. However, I always dreamed of moving back to the Provo Hills and Provo Canyon. I missed the mountains, the spirit, the people, and my church centrality. In Florida, I lived less than a 5-minute walk to the Wellington Chapel, but the geographical boundaries of our ward were so large. It was hard to connect and be close to each other, living so far from away. Most of...
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By Katerina Gasset, Amplify Your Real Estate & Life Dreams!
(The Gasset Group & Get It Done For Me Virtual Services )
What is Provo Utah Known For? Mountains, Brigham Young University, and Mormons, (members of the Church of Jesus Christ of Latter Day Saints, shortened version: LDS).Over the years, Provo Utah has grown into the second largest city in Utah. Salt Lake City is the largest city in Utah. Mormon Culture in Provo While over 93% of Provo Utah are members of the Church of Jesus Christ of Latter Day Saints, there are still people who are not members of the church who love to live here in Provo. There are other Christian domination churches in Provo. Catholics have churches in Provo and there is also a Buddhist Monastery. Utah itself is ranked by the Gallop Poll as the most religious state which can be quite surprising when you think of the southern bible belt. Provo is ranked as the most religiou...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Private Mortgage Insurance (PMI) Private Mortgage Insurance is used by Home Loan Buyers to insure the lender against default if the borrower has less than 20 percent down.  Private Mortgage Insurance can be a very costly insurance premium that is necessary as part of loan qualifications set by Fannie Mae and most secondary market investors.  With the right loan, it doesn't have to be an obstacle.  How much does Private Mortgage Insurance Cost? PMI increases your monthly payment and could be tax deductible.  PMI varies, but can be estimated by taking about one-half percent of the total loan amount.  With a home selling for $300,000 and 10 percent down or $30,000, the annual cost of PMI on your $270,000 loan would be approximately $1,350 annually or an extra $112...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Getting Pre-Qualified is Your First Step The time has come to start shopping for a home to purchase.  The first thing that you should do is to get pre-qualified for a home loan.  It is very important to understand what your price range is prior to looking so you don't waste time looking at properties that are out of your price range. Where do you begin? Most Realtors work with a trusted network of Mortgage professionals, who can assist you in getting pre-approved for a loan so that you can comfortably begin looking at homes with the assurance that you can obtain the proper financing. Generally, loan officers can help you with a pre-approval by getting some basic information (address, social security number, etc.) over the phone or internet. If you choose to pur...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - 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 Divorce •·    ...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Home Selling Options Today 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 t...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale - Home Buyer's Market 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 homes. The Home Buyer market can be a great opportunity to not only negotiate the price of a new home you want to buy, but it can also be a time for great interest rates, inspection costs, and closing cos...
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By Alan Barker
(Boomerang Leads)
The number of sold homes in Provo UT increased by 14.  Median price fell below $200,000 and average price of Provo houses declined from the mid to low 200s.
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale - Buying Your First Home 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.  These days the task of sifting through hundreds of potential houses is not as hard.  With a few mouse clicks, you can see multiple house listings and take virtual tours of houses for sale. The key points to consider ...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Buying Your First Home 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.  These days the task of sifting through hundreds of potential houses is not as hard.  With a few mouse clicks, you can see multiple house listings and take virtual tours of houses for sale. The key points to consider are...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Home Buyer Representation As of 1994, the state of Utah authorized Buyer's Agency.  In Utah County, and throughout the state, buyers can choose an agent to work exclusively on their behalf.  Buyer agency benefits include: •·         Buyer's agents are almost always paid out of the proceeds of the sale by the seller or builder, so we always recommend using a Realtor, as it will cost you nothing extra. •·         Many people do not realize that it is advantageous to have an agent on a new home purchase as well.  I have gone to bat for my clients on a number of occasions when there were problems with home builders.  Salespeople who work for the builder are usually very ethical they are also employees of the builder and are bound by their relationship to their empl...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Good Credit When it comes time to purchase a new home there is nothing more important than having Good Credit.  The first thing a lender will do is review your credit report.  The credit report is a history of money you have borrowed in the past and how you have repaid those debts.  It contains a list of debts such as credit cards, car loans, and other loans.  It also contains other public records such as liens or bankruptcies.  Your credit report is constantly being updated and most of the information is deleted from you record after 7 years (10 years for bankruptcies). This credit information is then used to help generate a computer driven number that indicates your risk to lenders.  This is what is called your Credit Score. No Credit? It is very important to...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate- When to Vacate your Sold Home When is the proper time for the Seller to vacate their property after closing?  This question comes up quite often during the process of the Real Estate transaction.  Just when the proper time is, depends solely on the wording within the Real Estate Purchase Contract.  Unless the property is vacant, generally speaking the seller has until after recording with the county.  Most important is how much was indicated within the REPC.  Usually it takes about a month to close a smooth transaction on a purchase.  If the transaction turns out to be a nightmare, then the closing could go on for an extended period of time.  Another method that can be used is an occupancy agreement between the parties.  If the seller needs more time to move, th...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale - For Sale by Owner or Realtor 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 results usually come out the opposite.  In fact, statistics from the National Association of Realtors report that only 16 % of those who listed their home For Sale by Owner, were successful in selling their home.  The main ...
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Energy Audits for Historical Buildings like the Silver Row in Provo, 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 community wide, as well as ...
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Energy Audits for Historical Buildings like the Provo East Central Historic Distric in Provo, 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 co...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - FHA Loans The FHA (Federal Housing Authority) doesn't actually fund your home loan in any way.  The FHA simply provides mortgage insurance to help consumers become Home Owners.  The FHA actually insures the lender from losses resulting from Home Owner default.  The FHA helps mortgage lenders prepare loans for people who might not otherwise qualify. One of the big advantages of an FHA Loan is that a smaller down payment is possible.  As of January 1, 2009, the down payment for a FHA Loan is 3 ½ percent of the principle loan amount.  In today's market the down payment on conventional loans can be as much as 20 percent.  FHA loans make it possible for many people to enter the Home Buyer market, just with the lower down payment alone.  There are many other good inc...
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Energy Audits for Historical Buildings like the Jessee Knight House in, Provo, 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 community wide, a...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Seller Motivation and the Offer Price When looking for homes for my buyer clients, I have found that the Seller's Motivation can have a dramatic affect 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 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 seller to make a quick deal.  However, when you see a real estate ad that mentions, divorce, motivated seller, relocation, or something to that aff...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale Foreclosure Process Is a distressed Property right for you? Distressed sales are a sad fact of the Real Estate market.  While no one wants to see a homeowner lose their home, these properties also present unique opportunities for buyers.  To determine whether you are a candidate for such a purchase, it's important to learn all you can about distressed properties - and to work with qualified buyer's representative who can guide you through each step of these complex, non-traditional transactions. Foreclosure is a process, with buying opportunities at each stage: Stage 1.  Pre-Foreclosure A period of time that begins with the initial mortgage default and ends when the distressed property is sold Stage 2.  Foreclosure Sale  When the property is auctioned to the h...
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By Alan Barker
(Boomerang Leads)
Price of homes in Saratoga Springs stayed pretty consistent until they jumped in 2005 and even more so in 2006.  Since then, numbers have slightly decreased. Saratoga Springs homes sold increased pretty steadily until 2006 then, like sold price, a decrease occurred.  This decreased lasted for two years then in 2009, Saratoga Springs Real Estate increased to a ten year high.
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By Alan Barker
(Boomerang Leads)
Provo Utah Condos did pretty well until 2007, when numbers turned around.  This eventually led to 2009 being a ten year low for sold condos in Provo.  Price has stayed pretty solid, with small increases and decreases close to an estimated appreciation curve.   Sold Real Estate in Provo Utah witnessed a pretty solid increase from 2000-2006, then an equally solid decrease from 2000-2009.  When only looking at number of Provo homes sold, it seems like nothing has changed in ten years.  Yet change has come in price as median Provo Real Estate prices have increased over time, staying quite close to a 4% appreciation line.  Average price increased more dramatically starting in about 2005, likely because of the number of high-end homes being sold.
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