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 last process that takes place just prior to recording is the closing.  At closing the Title or Escrow company provides the buyer with Title Insurance or an Owner's Policy.  They insure that you have clear title to the property.  If there are any problems later you can always go back to the Title Company and have them clear it up.  During the closing the Title Company also provides a Lender's Policy.  The Lender's policy insures your mortgage lender that there are no liens or judgments against the property and that the property and the mortg... 02/24/2009

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 really nice things about Homeownership is that it helps you by creating an automatic savings account.  Many people are not very good at saving money.  By owning a home you can accumulate savings in two ways.  Every month a portion of your payment goes directly toward principal.  Early in the mortgage very little goes to principal but over time it accelerates. Second, your home appreciates.  The average appreciation on a home is approximately 5%.  Your appreciation will vary from year to year, and in some years it may even depreciate.  ... 02/15/2009

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.     This is NOT a good time for those with low and/or no risk tolerance to purchase.  A strong case can be made that those who are looking for a home for their family with plans to stay long term.  Why not buy now?  Especially if the numbers make sense, i.e. Owning vs. Renting.  Even, if the market retracts more (which is extremely likely) in the future.  Between the coming market bounce and future normal cycle ... 02/08/2009

Spanish Fork home sales decreased by about 30%. Average home prices declined by 6.7%, from $237,200 to $221,315. Median home prices declined by 5.14% from $212,950 to $202,000.  Currently there is 9.7 months of inventory on the 264 MLS houses listed for sale. It is a good time to be a buyer, and there are plenty of great homes in Spanish Fork UT.   These numbers are not official. 01/19/2009

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 (12.86)% 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 The difference between List Price, Sales Price and Appraisal Value is very easy to explain, but not understood completely by some home buyers. List Price - The list price is the amount entered into the MLS by the listing broker and agent.  It is the asking price or offered price for a home for sale.  Usually the list price is determined by comparing like properties that have sold in the vicinity.  Many times the seller needs to sell the home for an amount equal to or greater than the outstanding mortgage on their home.  This is not the best way to price a home especially during times when home values are deflated like the present market.  Sales Price - The sales price is the actual price at which the home sold.  This is the price that is reco... 12/26/2008

By: Robert A. Hulme – Loan Officer - Realtor 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. 12/10/2008

We still are having a low percent of new listings being SOLD.  Currently (16.97) % 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.   12/05/2008

The year is more than half way over. After half a year about 160 homes were sold in Spanish Fork. These homes median price was $205,000 and the average sold price was $231850. Currently there are 325 active Spanish Fork MLS listings. These listings have a median price at $240,000 and an average price of $275,851. The  average home for sale in Spanish Fork Utah has been on the market for 92 days. 07/17/2008

Issues to Consider When Insuring Your MortgageWhen purchasing a new home that requires a mortgage, many consumers default to buying their life insurance from the bank or mortgage company. This type of insurance is called 'mortgage life insurance'.Mortgage life insurance is a type of term life insurance. Term life insurance is insurance that is fairly pure insurance - a set premium in exchange for a set death benefit.With mortgage life insurance, the premiums are generally static - they don't increase over time. However, the death benefit declines as the mortgage balance is paid down. Since the death benefit only covers the mortgage, the smaller the mortgage, the smaller the death benefit.Mortgage life insurance has a number of common faults. In many cases consumers may be better served ... 08/23/2007