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    Has the Market Stablized in the Salt Lake Area?    

Real Estate Articles

10 Big-Impact, Low-Cost Remodeling Projects
Are you thinking about selling your home?
Here are some ideas that will help you sell your home fast and for top dollar.
This is a list of budget-minded enhancements you can make to your home that will help it stand out from the competition.

Short Sale Guidelines from the Government
Government Announces Short Sales Guidelines
The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.

Move up Home Buyer Tax Credit
Good News - The new bill signed into law provides a Move up Home Buyer Tax Credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

$8000 First Time Home Buyer Federal Tax Credit Extended and Expanded President Obama signed legislation today that will extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure will apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

Foreclosures of the Rich and Famous
You are not alone.  Although the rich and famous are rich and famous, it doesn't mean that they are impervious to the popping of the real estate bubble. Many have succumbed to real estate woes as of late.

Two New Programs Available
Two very exciting things that happened this last week.
First :  The $8,000 Federal Tax Credit can now be used to as a down payment to purchase your first home.
Second : The Utah Home Run2 Grant is available again.

Short Sales with Bank of America
In a time when the banks and mortgage companies should be doing everything possible to help move the short sale process along, why are they drawing it out and making it difficult to sell the home?  This is another article about the frustrations of completing a short sale and trying to buy a bank repo.

The Devastating Effect that Short Sales Have on Both Buyers and Sellers.
The problem with a short sale is the devastating and emotional effect that this lengthy process can have on both Buyers that are trying to buy a house and Sellers that are trying to sell a house that is going through the Short Sale process.

Currently there are 19,540 homes for sale in our 4 county metro area. 18% of those are short sales. (3,575). 

Short Sales are an Option to Stop Foreclosure
Utah foreclosures made the top ten in States with the highest foreclosure rates.
If you need Short Sale Help in Utah don't drag your feet. Call us today. Don't be one of the many foreclosure statistics.
Foreclosures have increased despite intervention  FULL STORY ->

Short Sale Options Have Improved - Loan Modification Options
New provisions give some homeowners a second shot at a home-saving loan modification, while other homeowners may now be able to take the short sale escape route from foreclosure.  Now, mortgage modifications can include second mortgages -- not just first mortgages -- and cash incentives are sweetening short sale deals, thanks to new efforts by the Obama Administration. FULL STORY - >

Housing Markets, Top Rising and Falling
It's always fun to compare different markets, but this report doesn't mention our Salt Lake City Real Estate Market.
What we're seeing locally, is more homes are being sold, but the prices are still creeping downwards. However, not as much in other Real Estate markets. We don't take the huge increases in good markets and as a result, we also don't take the huge decreases.

Do you want to sell your Utah home and get out from underneath a heavy mortgage, but don't have enough equity in your home to pay commissions and closing cost? I can help! Utah Short Sales. Our professionals have the experience and knowledge to make your Short Sale process go through quickly and as easily and painlessly as possible. The first step is to give us a call.

First Time Home Buyers Have An Effect on The Real Estate Market
Lower Interest Rates and Federal First Time Home Buyer Rebate

First-time Home buyers accounted for half of all purchases nationally during the first quarter of 2009 as reported by the National Association of Realtors. 134 out of 152 metropolitan statistical areas1 reported lower median existing single-family home prices in comparison with the first quarter of 2008, while 18 metros had price gains.

First-time home buyers were reacting lower prices caused by foreclosures and short sales, The enticement of the $8,000 Tax Rebate and lower interest rates got a lot of First Time Home Buyers out on the streets for their dream home. Their sales had a dramatic impact on metropolitan area median home prices in the first quarter.