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... 07/22/2010

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. 07/21/2010

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 ... 07/21/2010

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... 07/21/2010

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... 07/19/2010

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... 07/14/2010

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... 07/12/2010

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 ... 07/03/2010

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 ... 06/23/2010

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... 06/23/2010

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... 06/20/2010

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... 06/17/2010

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... 06/15/2010

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... 06/04/2010

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. 05/27/2010

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. 05/27/2010

Energy Audits for Historical Buildings like the Utah County Courthouse in the Historic Provo District in Provo | 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... 05/25/2010

Provo Real Estate followed a similar trend that several other Utah County cities experienced.  Sold homes went up a decent amount and median and average sold price of Provo UT homes decreased. 05/24/2010

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 listingsand higher percent of new listings being SOLD.   SUMMARY Has the Utah Real Estate Market bottomed? 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 investor with low and/or no risk tolerance to purchase.  Investors with a long term buy and hold strategic.  Opportunities are starting to make sense.  Contact your property resource specialist for information to make an inform... 05/16/2010

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: •· ... 05/08/2010