Real Estate Info in Utah/West Jordan UT/Daybreak UT, Buying a Home, Selling a Home, Short Sales, Foreclosures, First Time Home Buyers
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Direct: (801) 520-0834
@ Home Realty Network
7985 S. 700 E.
Sandy, UT 84070
And the answer is YES!!!!! Interest rates are still an all time low and home prices are low. What better time than the jump in and buy a new home.
It is also a great time to sell your home. Buyers are still out there and with interest rates still low buyers are able to afford more and buy your home.
So give me a call if you are interested in buying or selling as I have some incredible ideas for you.
Tags: buying a home, buying a home in Daybreak UT, buying a home in Utah, buying a home in West Jordan UT
Posted in Buy a House | No Comments »
It isn’t too late to buy a home in West Jordan, UT & Daybreak (South Jordan) and get the $8,000 tax credit. The deadline is fast approaching but there is still time to find your perfect hom.
So if you are a 1st time home buyer please give me a call and I can help you find an awesome deal. There are many desperate sellers, short sales and bank owned homes that are available for you.
So don’t let this incredible time to buy a home in Utah to pass you by. Interest rates are still amazingly low.
Tags: buying a home, buying a home in Daybreak UT, buying a home in salt Lake, buying a home in Utah, buying a home in West Jordan UT, first time home buyer tax credit in utah
Posted in First Time Home Buyers | No Comments »
Hello!
As your trusted realtor I wanted to let you know of some proposed changes to the FHA mortgage coming up this April 2010 and it’s affects it will have on your home purchase.
First time home buyers that want to take advantage of the current FHA guidelines need to move quickly. Changes are coming in the early months of 2010.
Changes that are being considered:
Down payment Minimal of 5% (could be higher)
Sellers concession to be no more than 3%, perhaps even lower.
Insurance Premium which is now at 1.75% of loan could go to 3% of the loan. Premium is due at closing.
Annual Premium insurance which is currently at.55% of the loan amount and is part of the FHA monthly mortgage payment could be going up.
Credit scores could be a minimal of a 620 FICO score.
If you’re a first time home buyer who is currently looking to purchase, now would be the time.
The closing cost and down payment would be what is affected the most. The scenario would look something like this for a home purchased at $300,000 with current FHA standards you would need $10,500 down payment which can be gifted, $5066.00 for the upfront premium insurance. You would be allowed up to 6% in a sellers assist (help with closing), in this case that would be $18,000, this would cover most of the closing cost depending on your state.
With the new proposed guidelines the scenario would look like this $300,000 purchase price would mean 5% down or $15,000 (there isn’t talk about changing the gift portion). The upfront insurance premium due at closing would be $8550.00. The seller assist would be around 3% (some would like to see this at 2%) or $9,000.
Closing cost are more than your down payment and insurance, there are title fees, recording fees, attorney fees, upfront real estate taxes and other miscellaneous fees. Depending on the state you reside would not cover most closing cost.
It’s going to be costly in the future for FHA applicants, credit scores will be have to be higher and out of pocket expenses are going to be higher as well.
If you have been house hunting, and are going to be using FHA financing, this would be the time to move forward with your home purchase. Waiting could potentially mean needing thousands of dollars more in the near future to purchase a home.
As always, keeping you updated. If you or anyone you know is looking at purchasing a home with an FHA mortgage please let them know. If you have additional questions please feel free to contact me.
Tags: buying a home in, buying a home in Daybreak UT, buying a home in West Jordan UT
Posted in Buy a House | No Comments »
Well I can help!!! I just had a client that couldn’t get financing for 18 months BUY A HOME.
She got seller financing. This is where the seller agrees to be the bank and they will allow you to make the payment and then when you can get regular financing then you just refinance.
The great thing about Seller Financing is the Title changes into your name. So you technically own the home and qualify for the tax credit.
All you need to do is let me know and I can email you a list of homes that offer Seller Financing. There are more out there than you think.
So STOP renting and get into your own home NOW.
Give me a call, Jennifer at 801-520-0834 or email me at jenyates@homerealty.com. I look forward to hearing from you!!!
Tags: buying a home in West Jordan UT, Daybreak Homes, Seller finance, Seller Financing in Daybreak, seller financing in Salt Lake, Seller Financing in Utah, Seller Financing in West Jordan
Posted in Seller Financing | 8 Comments »
Well the word on the street is it will be extended until April 2010. So, 1st Time Home Buyers that didn’t take advatage of this tax credit should be EXCITED!!!!
When I get the final word that it is for real I will post it ASAP.
Again, Give me a call if you are ready to start looking for your new home. I would lOVE to help you!
Tags: buying a home in Daybreak UT, buying a home in Utah, buying a home in West Jordan UT, Daybreak Homes, daybreak utah, Living in Utah, West Jordan Homes
Posted in First Time Home Buyers | No Comments »
Question: How Many New Construction Grants are Left?
Answer: As of today 10/26/09- 626 grants are left for the new construction. (243 approved last week alone). So they are going FAST!!
Remember you just need to go under contract to get the $4,000. You don’t have to have your new home built yet.
Tags: buying a home in Daybreak UT, buying a home in West Jordan UT, Buying in Daybreak, Daybreak Homes, Home Run Grant in daybreak, Utah Home Run Grant
Posted in Questions and Answers | No Comments »
Attention First Time Home Buyers!!!! Time is running out to take advantage of the $8,000 tax credit.
The combination of reduced home prices, motivated sellers, low home loan rates, and the potential of a juicy tax credit is too great an opportunity to miss.
Remember you have to close on your home by Nov. 30th, 2009 so you need to be finding your perfect home right now so we can get all the financing in order and close by the deadline.
A First Time Home Buyer is anyone that hasn’t owned a home in the last 3 years.
So give me a call or email me if you want to take advantage of the free money.
The $8,000 can also help you with your down payment so you don’t have to bring any money to the table. Ask me for details.
Tags: Buying a home in Daybreak, buying a home in West Jordan UT, daybreak tax credit, Daybreak UT, first time home buyer tax credit in utah, west jordan tax credit
Posted in First Time Home Buyers | No Comments »
The decline in Utah home sales slowed in the second quarter with existing home sales close to year-ago levels, according to a Utah Association of REALTORS® report released Thursday. In the second quarter, Utah REALTORS® sold 8,021 homes and condos, down 3 percent from the 8,232 properties sold in second quarter 2008. While sales were down overall, the decrease was much slower than the double-digit drops seen over the past two years and the 23 percent decline in the first quarter. Percentage-wise this was the best quarter for Utah year-over-year home sales since second quarter 2006, when sales were up 3 percent.
A separate report suggested sales improved as the quarter progressed. In June, Wasatch Front home sales were up 9 percent compared to June 2008, the first year-over-year monthly rise for Salt Lake, Utah, Davis, Weber and Tooele counties since September 2008.
Over the quarter, areas with the highest home sale gains were Grand County (up 53 percent), Wasatch County (up 52 percent), Washington County (up 29 percent) and Utah County (up 18 percent).
Tags: buying a home in Daybreak UT, buying a home in West Jordan UT, Daybreak Homes, daybreak utah, utah daybreak, utah home sales, Utah Housing market, West Jordan
Posted in Housing Market | No Comments »
Let’s review our home buying steps up to this point. You’ve got your finances in order, been pre-approved for a certain type of mortgage, found a good agent, and narrowed your search to a few select neighborhoods. Excellent! You’re ready for one of the most exciting steps to buying a home — the house hunting process. As an agent I will email you every morning the homes that have just come on the market or just lowered the price in your criteria so you will have the most up to date information. I also have a Home Scouting Report Program that I will register you on. This program is a password protected site that you can go on 24/7 and find homes that fit your criteria. This program allows you to save your favorites in a notebook so if anything changes on the home you will be notified. You also can look at birds eye views of the home which were taken in real time. Awesome site! Please let me know if you would like me to get your registered.
Once you find a home you like, make an offer on it. For this home buying step, work closely with your agent to determine a reasonable offer amount based on recent, comparable sales in the area (referred to as “comps”). As an agent, I will help you structure your offer to your needs. If you need closing costs paid for by the seller, I will make sure you get them. I also work hand in hand with your lender to make sure the offer is asking for everything that you need to get a mortgage.
To be honest, there’s not much you need to do for this next home buying step. Your lender will arrange for the appraisal, and you basically have to stand by and watch (while hoping that the home appraises for the price you’ve agreed to pay). If for some reason the home doesn’t appraise for the purchase price we can negotiate with the sellers to have them lower the price to make it work.
Having a home inspection is a crucial step in the home buying process. It should not be skipped and I make sure all my clients get one done. After all, it will give you the peace of mind of knowing what condition the home is truly in. You never know what is wrong with the home unless you get an inspection. I once had a client that didn’t want to have one because it was just more money to put down. After I convinced him to have one done, he found out that the roof was leaking, the garage was not fire rated, and some outlets didn’t work. Because of the inspection, we were able to get the sellers to make the repairs and save my client a lot of money. It also let my client know he was buying a good home. I have heard horror stories of buyers not getting an inspection and after they move in they find out a ton a major problems with the home and wish they hadn’t bought it. OUCH!
Lastly, after all the paperwork, inspections and appraisal have been completed you get to meet at the Title Company and sign the final documents. This is called the Settlement. After both sides of the transaction have been completed and it funds and records, then you recieve the keys to your new home. YEAH!!! This is called the Closing. This is the most exciting time and part of the process. It usually takes a day to fund and record so plan on moving into your new home the next day after your sign.
Tags: buying a home in Daybreak UT, buying a home in West Jordan UT, daybreak, Daybreak Homes, Daybreak living, steps to buying a home, West Jordan Homes, West jordan living
Posted in Buy a House | 1 Comment »
One of the first home buying steps should always be a good review of your financial situation. You can bet that a mortgage lender will put your finances under the microscope, so you should do the same. Having a good credit score and savings for a down payment (unless you get 100% financing) is a must have in today’s market.
The next home buying step is choosing a type of mortgage loan. This part of the home buying process requires careful consideration on your part, because your mortgage will stay with you for some time (until you sell, refinance or pay the mortgage off). Meeting with a mortgage lender will help you with this step as he/she will explain all the types of mortgages available.
The will be choosing a mortgage lender and getting pre-approved. Pre-approval will help you greatly during the home buying process. For one thing, it will show sellers that you are serious about buying their home (and financially capable). This can make a big difference in whether or not they accept your offer. Another reason is to make sure you can get a loan. I have had some clients where we find their perfect dream home and come to find out they don’t qualify for a loan. So we are all devastated and feel we have wasted lots of time looking at homes they can’t get financing on.
Next you will need to find a qualified real estate agent to help you through the remaining home buying steps. The home buying process can move pretty fast, and there’s a lot at stake financially. So having a skilled agent on your side can help you avoid making costly mistakes, especially if it’s your first time buying a home. Also many people think they can do it on their own and save money if they don’t have an agent and that is not true. If you buy a home and don’t have an agent, the listing agent will just get double commission and you don’t save any money. So it is best to be represented with an agent. And remember, having me be your agent for buying a home is FREE for you. The seller will pay me a commission.
Some buyers will neglect this particular home buying step, rushing off to look at houses without doing the proper research on neighborhoods. Which neighborhood you choose is almost as important as which home you choose. Neighborhoods have a direct influence on quality of life, social and recreational satisfaction, property values, commute time, educational opportunities and more. So doing a little neighborhood research is a crucial step to buying a home.
The Last 5 steps to buying a home will be in the next post.
Tags: buying a home, buying a home in Daybreak UT, buying a home in Utah, buying a home in West Jordan UT
Posted in Buy a House | 1 Comment »
Avg. Sales Price: 165,000
Avg. Days on Market: 116
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