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Kalleen Foster
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    Years of Experience: 6

    Weber State University, BS, Business Management
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Coldwell Banker Residential Brokerage
2225 Washington Blvd #100
Ogden, UT 84401


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Archive for October 2009

Good News! Tax Credit Extended to Buy a Home in the Ogden Area

Friday, October 30th, 2009

Have you wanted to make that home purchase but you have been hesitant?  Good news!

Today the Senate settled on extending the $8000 Tax Credit for first-time homebuyers to June 30, 2010 and added a $6500 Tax Credit for existing homeowners. This is tentative until the government releases documents with all the find print.

This is exciting and good news.  The $8K which was to expire on Nov. 30th, next month, will be expanded to include contracts finalized by April 30, 2010 and close by June 30, 2010.

For you homeowners who have wanted to move up or just change neighborhoods, the incentive is here with the $6500 tax credit. 

I know in my own neck of the woods, lots are availabe and new homes are being built.  Perhaps now is the time for an existing homeowner to build the home they want.

Or if you are an empty nester and want to get that one level home you have been thinking about, perhaps this is an incentive to make the move. 

Or if you have outgrown that starter home, perhaps this is the time to expand.

And if your kids are looking to buy for the first time, time has not run out yet.

And perhaps you just want to sell because you know more buyers will be interested because of the tax incentives.

Or maybe you, or someone you know, would like to relocate.  This tax credit would also benefit relocating elsewhere.

This is great news!  Whatever your motivation, just let me know.  I would love to help you:) Happy day!!!

What Steps Should You Take to Buy a Home in the Ogden Area?

Friday, October 30th, 2009

Wondering how to take advantage of low interest rates and amazing prices of homes in the area? If you want to be in by Christmas, the buying process takes about 30 to 45 days (minimum) if you are prepared and find a home today to purchase. The following will help you get started.

Check your credit report and make sure it is accurate.  Lenders use credit reports to lock in home loans and determine the lowest interest rates.

Gather your paperwork–verification of employment, copies of any assets (retirement accounts, stocks, bonds, etc.), copy of social security card, and two of the most recent of the following:  pay check stubs, bank statements, and W2 forms.  If you are self-employed, last year’s tax return will be needed. A co-applicant will need all of these too.

Do your homework and determine the most favorable mortgage rate and terms.  Select a lender and get pre-approved.  This serves two purposes.  You will know how much of a mortgage you can afford and it will determine the price range of homes you will be able to choose from.

Next, select a good agent. An agent can show you properties and when you find one you like, can negotiate the best price for you. A realtor will be able to help you step by step through the buying process and eliminate a great deal of stress. 

When you meet with a realtor, know what you want.  This might take some time. Brainstorm what you desire, eliminate one by one wants/needs and then determine what items are most important. This will be valuable information to share with the agent.

This is a synopsis of the preparation process and once you and your realtor find the home you like and an offer is made, your realtor will take it from there.

What is Another Reason to Buy in the Ogden Area?

Thursday, October 29th, 2009

Why is this a great time to buy in the Ogden area?  Not only are interest rates at a 30 year low and an excellent supply of inventory is available and year round sporting activities are at your fingertips, but Mayor Godfrey announced today that new FBI figures show crime rates have fallen dramatically over the past decade.  Recent data suggests a noticeable decrease in violent and property crime.

This is good news because Ogden’s public perception is negative towards safety.  He and city officials pointed out Ogden had 55 crimes per 1,000 population and this was the lowest  since 1997 and out of 12 major cities in Utah, Ogden was the fifth lowest. Ogden implemented a no-nonsense policy after 2004 when the crime rate was higher and the different programs used have seemed to do the trick.

Out here in the country where I live it is pretty quiet and I am glad to know that things are more quiet in the city.  With the Junction and all the fun restaurants, shops, sporting facilities, business and residential buildings, it is comforting to know programs are in place and these programs are working effectively to keep us safe in our community and neighborhoods.

As Mayor Godfrey stated in this morning’s Standard Examiner, “There is no way to eliminate crime. In every Mayberry, there’s crime.  It’s about getting ahead of it”

Is the $8000 Tax Credit working?

Friday, October 23rd, 2009

Hot off the press.  Less than an hour ago, an AP Real Estate writer, Alan Zibel, reported that a report, due out Friday at 10 AM EST, will show strong September home sales. He reports the five percent increase would be larger than Wall Street expected. He further states first-time homebuyers and investors have been buying and taking advantage of the low interest rates and the $8K tax credit which ends Nov. 30th, about six weeks away. Because of the jobless rate, many are still unemployed and cannot afford their mortgages which adds to the supply of homes for sale.  Concerned about the housing market, Congress is considering extending it to June 30, 2010 and including all home buyers. Funding the extention is a major roadblock.

So if you are planning or anyone you know is planning to purchase a new home in Ogden, please hurry and make that offer.  It could take about 30 days to close, so you have just a couple of weeks to decide.  Please don’t let this opportunity pass  by. With inventories high, interest rates low and an $8K tax credit for first-time homebuyers, now is the time. Why rent when you can own?  Why not move up now?

An Historic Time to Buy Especially in Ogden and Surrounding Areas

Thursday, October 22nd, 2009
Two articles caught my eye this past month.
1. Daily Real Estate News  |  October 6, 2009  |   Share

A Historic Time to Buy
Young people just starting to invest and buying their first homes are potentially the winners in this recession.

First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®

“This is a historic time,” says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. “It’s a great opportunity to make some great gains in the future.”

A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.

“We need to be shouting from the rooftops that this is not the time to get out of the market if you’re young,” says Christine Fahlund, a senior financial planner with T. Rowe Price. “This is the time to be in the market.”

 

2. Daily Real Estate News  |  October 9, 2009  |   Share

Long-Term Mortgages Near Record Low
Thirty-year, fixed-rate mortgages moved closer to the all-time low of 4.82 percent reached in May, falling to 4.87 percent this week from 4.94 percent a week ago, according to Freddie Mac.

Home owners who refinance have an opportunity to reduce their payment on a 30-year, fixed-rate loan for $200,000 by nearly $134 a month from a year ago, when long-term rates averaged 5.94 percent.

Other mortgage averages were as follows:

  • 15-year loans fell to 4.33 percent.
  • Five-year adjustable-rate mortgages dropped to 4.35 percent.
  • One-year ARMs rose to 4.53 percent.

 

I was excited by this news.  A young first-time homebuyer is in a wonderful position to make a difference and prepare for the future. Inventories are high and rates are low.  An historic time indeed. And homeowners who refinance with the record low rates are coming out winners too.

Buying a Home in Ogden With $8K Tax Credit

Sunday, October 18th, 2009

What about the $8,000 tax credit that expires November 30 and buying a home in Ogden?

According to Realtor Magazine (16 Oct o9), “More than 1.8 million home buyers will have used the credit by the end of November, including an estimated 355,000 who wouldn’t have bought a home without it, according to the National Association of REALTORS® and other analysts.

Mark Zandi, chief economist for MoodysEconomy.com, is among those in favor of extending the credit. Zandi would also make it available to all homebuyers. “The most fundamental argument for the credit is that nothing works in the economy if housing is falling,” Zandi said. “[The credit] is a good insurance policy. It’s vital to stem the housing price declines.” ‘

Lawmakers also seek to extend the tax credit.  According to the Associated Press in the Standard Examiner, Business, October 16, 2009.  “The latest proposal would drop the requirement that the credit would only be available to first-time homebuyers, broadening the reach of the program but also adding to its cost, estimated by congressional analysts at $16.7 billion. It would be a stimulus-package tax break that many regard as a significan prop for the still-tottering economy.”

I feel it would be wise to extend the tax credit beyond November 30th and I feel it would be wise to include all home buyers.  I feel this would aid the all phases of home buying and would aid people who are working hard to improve their credit score to take advantage of the low interest rates. 

With interest rates at a 30 year low and an excellent supply of inventory, extending the tax credit would continue to make it a great time to buy a home in Ogden.

Buying a Home in Ogden?

Wednesday, October 14th, 2009

“For climbing the career ladder or speeding down the ski slope, the place to be is Utah!”   I am excited to help you buy a home in Ogden, Utah. I read an excellent article that illustrates my passion for real estate in Ogden.

www.sunraydirect.com/Utah/CBRESUTCorp.htm

It describes the beautiful scenery to enjoy, our economic growth, unique demography, transportation amenities, diverstiy of the economy, strong education system, one of the nation’s healthiest states and leader in affordable healthcare, the oldest state arts council in the nation, outstanding winter sports facilities and year around sport locations and activities, high percentage of home ownership, and the quality of life distinctions that continue to draw businesses.

What a great place live and what a great place to buy a home and all this is in Ogden, Utah. 

What do you think?  Are you ready to buy a home in Ogden? Let me know and together we can make that happen for you!

Seven Reasons to Buy a Home in Roy or Ogden

Tuesday, October 13th, 2009

The Standard Examiner contained a whole section on seven reasons to buy a home NOW.  It was in the Saturday, October 10, 2009 issue. (www.Standard.net).  The following were the headlines on each page:

1. ”Slash your tax bill.  First-time buyers can get an $8,000 tax credit.

2.  Pride of ownership.  Home feels better when it is actually yours.

3.  Make it your own.  Owning a home gives you freedom.

4.  Paying yourself.  It’s a big piggy bank.

5.  Low interest rates.  U.S. keeping rates low to spur home buying.

6.  Putting down roots.  Owning a home provides a sense of stability.

7.  It’s a buyers market.  More choices, better deals to be found.” 

I thought is was a great article because it stated all the reasons in a very concise way.  And–there are so many ways to finance a home.  For those who are improving their credit score, a Lease Option to Purchase might work.   Check with any lender for financing options and how to qualify for the $8K tax credit and the $4K grant from the State of Utah.

And–follow this web address to start looking for homes in Roy and Ogden: www.utahhomes.com.  When you find one you would like to see, let me know and lets go look at it:-) Once again, it is a great time to buy.

Great Time to Buy a Home in Ogden

Friday, October 9th, 2009

 

Former US secretary for HUD, Henry Cisneros, is visiting Utah.  He spoke today at WSU’s 11th Annual Diversity Conference.  The theme of the conference is the economy and diversity according to the Standard Examiner on Thursday, October 8th (www.standard.net).

While he was in Utah, he was interviewed yesterday by Candice Gale of Fox 13 News.  The link  and interview follow:

 

 

HERRIMAN, Utah – “Folks who are in the market and maybe have been standing on the sidelines waiting for this moment, this is probably the time,” said Former HUD Secretary, Henry Cisneros, when talking about the Utah home buyers. The Utah Board of Realtors concurs with Cisneros and says that this is the best time to buy in the last two years. Cisneros says that the federal tax credit, lower house prices, and lower interest rates all culminate into making a great time for home buyers to invest. And Utah has its own state assistance program to pad an even bigger down payment for first-time buyers.”
And if you purchase a home in certain areas of Ogden, the “Own in Ogden” down payment assistance program is another incentive. For information, the link is:

 

With interest rates at a 30 year low and an excellent supply of inventory, now is the great time to buy a home in Ogden. Please contact me and I would love to assist anyone who is interested in buying or selling a home in Ogden and  surrounding areas.

Building an Office in Your Home

Thursday, October 8th, 2009

I read an interesting article the other day given to me by Gary Boyer of Republic Mortgage in Ogden.  It describes how to create a home office.  I work out of my home most of the time and found it very useful and I wanted share some of the points with you. 

Layout – Before you buy any new furniture, make sure you measure and plot where each piece will go, and don’t forget to account for electrical and cable outlets.

Furniture – A desk that’s roughly 60-inches wide, 30-inches deep, and 29-inches high is not only conducive to work, but it’s highly functional in terms of storing the items you use regularly. Your chair should be comfortable, but its primary function should be to promote healthy posture. Good posture will facilitate strong mental focus and will help to alleviate back and neck pain.

Lighting – Don’t underestimate the importance of quality lighting. If you have a window in your office, this should serve as your primary light source during the day. Large lights like floor lamps and ceiling lights should have the ability to be dimmed. Also, make sure your desk lamp is equipped with a light bulb that’s easy on the eyes.

Storage – Identifying the type of items you need to store, as well as the quantity, will help you to determine an appropriate course of action. Here are a few helpful hints.

  • Closets are great for storage. Not only can they house filing cabinets, but they are perfect for storing the items you don’t need to access on a regular basis. This helps to maximize the actual workspace of your office.
  • Shelving is one of the most versatile options for storage. Shelves can be purchased cheaply and come in a variety of sizes. They are easily installed and take up zero floor space.
  • Don’t forget about your garage. When it comes to older files or anything that is rarely accessed, a garage can provide ample storage space. Sometimes the garage can be a dirty place. Plan accordingly by storing paper items in boxes and wrapping equipment in protective plastic.
  • Visit a store that’s dedicated to home organization.  You’d be surprised at some of the inexpensive, space-saving storage options available.

Wall Organizers – Dry erase boards, chalkboards, corkboards, and magnetic boards are great for keeping clutter off your desk.  There are even combination boards that provide countless options.

Cords – Power strips provide the ability to plug multiple devices into one outlet. The better power strips also provide surge protection to the equipment that’s plugged into them. Cord covers are a great way to not only hide cords but to keep them from becoming a tangled mess.

Décor – Don’t overlook decor. Certificates, diplomas, awards, trophies, and pictures not only complement an office, but they also help to personalize it.

I hope these tips will help you create and organize your own home office. Thanks Gary!

Gary may be reached at 801-479-0600 or gboyer@repmtg.com.

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