Here is an article that was forwared to me that best describes the new proposal and some recent housing sales statistics. This is Good news and will hopefully also help the existing homeowner that is looking to either up or down size.

http://rismedia.com/2009-10-29/breaking-news-senate-plans-to-extend-and-expand-tax-credit/

Well it has happened I am finally dealing in bank owned REO properties. Through a group of agents that I am associated with and a very generous lending institution that has asked us to market their properties. Approximately 90 of them with the majority of the homes in Salt Lake, Utah, Davis, Weber and Tooele counties. If you happen to be interested in purchasing an REO home get in touch we me and I do my best to get you into one of these homes in Herriman and South Jordan or one in the area of your choice.

I was reviewing sales statistics today in the South Jordan area and found some interesting results. Sellers Beware the statistics I reviewed from the Wasatch Front MLS for the 84095 zip code area showed a serious decline is average selling price down to $270,796 from $327,523. Now the good news average home size also took a serious drop, down to 3058 sq ft from 3637 sq ft. Taking the above items into consideration selling average price per sq ft for September is $89 as compared to $90 for August. What does all this say buyers are turning to the smaller more affordable homes in South Jordan. Just beware we all know what will be written and published in the papers Home Prices drop in South Jordan rather than Average Size of Home Sales in South Jordan drop.

I just went back and reviewed my previous posts and was trying to figure out the best current topic in Real Estate in the South Jordan and Herriman areas to address here and came up with the idea to leave that up to you. I would like to hear your questions and concerns on the current state of Real Estate in South Jordan and Herriman. Do not hesitate to ask value, mortgage, incentive questions, buying and selling. I will do my best to address all your question and answer them to the best of my ability. Looking forward to hearing from you!

By now everyone that knows me has gotten the idea that I am not exactly a supporter of this program. My questions for you is I have two clients currently looking for homes in the South Jordan/Herriman areas both have showed some desire to purchase a new home and take advantage of the credit I have supported their desire researched new home and previewed new homes that are in their price range and am now ready to show them the ones that fit. My question to you is how do you feel about an agent that doesn’t exactly support the program helping clients that are interested in the Utah Home Run 2 New Home Buyers Grant? I will do every thing that is possible to help my clients obtain the home of their dreams, but on the other side what about my listing clients with homes in South  Jordan and Herriman, how would you feel knowing your agent has helped sell a new home versus their home even though their home didn’t fit the buyer clients needs.  Let Me Hear From You!

With the deadline of November 30th fast approaching for the First Time Home Buyer Credit we are now at that point in time if you plan on buying and taking advantage of the First Time Home Buyer Credit you will need to get your agent picked, get pre-approved for your loan ,then most important of all find you home and get it under contract within the next couple of weeks to guarantee that closing will happen prior to November 30th. Remember most likely it will take longer to get a loan closed the closer to the deadline you get due to the rush of others trying to do the same.

Get in touch of me with any questions or assistance you may need to find your home in South Jordan.

As I posted a few days ago, our Governor has brought back the new home purchase program in Utah. It expected to help almost 2000 buyers get new homes. OR IS IT TO HELP BUILDERS AND DEVELOPERS SELL 2000 HOMES. As an agent I should be in support of this program, but I am NOT and who did I see as a major campaign contributor to Governor Herbert yes The Utah Association of Realtors (As reported in the Salt Lake Tribune).

When is our state government realize what this money really does! Did they take into consideration the existing home owner that is trying to sell their home? Hmmm, do you think they just took $4,000 out of the pocket of every one of these home owners? How about the home owners struggling to make their current mortgage payments that wants to keep their home or even downsize or reduce their mortgage payments? Have they helped those people? Want me to keep going?  Lets see how about our banks and lending institutions that have how many thousands of short sale requests, REO properties or mortgages in process of default, did they just take $4,000 away on every one of these homes?

As an Real Estate Agent in Utah specifically working in South Jordan and Herriman I should be loving this, BUT I think not. The only people benefiting from this is the builders and developers and obviously our  Governors campaign fund. According to the Tribune round one has yet to prove an increase in jobs in our state an expert from the article.

James Wood, a University of Utah economist specializing in housing, said the original program helped builders get homes off their balance sheets, but financing for new construction has been tough to get, so the anticipated jobs from the first Home Run Program have yet to be seen.

Construction in the State is down for a reason we still have an over supply of EXISTING HOMES! Lets do something to stimulate the sale of those homes and help those home owners! Help the many not the few! For every existing home sale in this state you are helping 2 families the sellers and the buyers. For a new home sale you are helping the buyer and WHO?

Well if you have read this far thanks for listening!!

Remember I am a Real Estate Professional that is here to do the best for my client and reguardless of my feelings towards this program will do my best to see you get everything you desire!

As I am getting so good in turning recent events into posts here I have one more. Recently while representing a buyer in the South Jordan/Herriman area, I came across a home seller that had listed his home with a discount brokerage. As the buyers agent I feel lucky in the fact he was a very educated and knowledgeable seller, however not experienced and without the support of a professional agent that was familiar with the South Jordan Herriman area was truly at a disadvantage. He let us know the time frame he was up against. He also not directly let us know he wasn’t sure where he stood in the current market. Was he ever lucky my buyers were fair people and also didn’t want to risk missing on his home in South Jordan. He also was lucky to have an agent working for the buyers that wasn’t afraid to help him understand the sales process and get this home closed in the time that both seller and buyer needed.

Once we were completed with the purchase of this home the “seller” contacted me with a nice thank  you in the form of a referral and told me he now understood the value of having a professional Realtor representing him and that he also now realized we just do not put signs up in yards.

In keeping with my pattern here is an article I found on Selling and negotiating on your home in South Jordan and Herriman.

There are many misconceptions when it comes to successfully negotiating the sale of your house. While a seller shouldn’t fully divulge the reasoning behind the sale, this does not mean a rigid demeanor will give you the best results. Follow a few negotiating tips to optimize your final price.

Get Information. Being well informed about your market is the first step to being a shrewd negotiator. Comb all available resources regularly to stay on top of developments and shifts in the marketplace.

A real estate agent is a priceless asset to have for research purposes. Besides experience with your market, an agent also has access to comparable market analyses (CMA). These reports list properties in your location that are currently on the market or have sold. Pay attention to the houses that have sold and what features came with these properties. The amenities your house provides could boost your asking price. Always try to get the latest CMA, as market fluctuations can quickly render your information outdated.

Buyer’s or Seller’s Market. It’s important to know if your house is located in a market favorable to a seller or a buyer. Obviously, a seller’s market is what you want, since these areas will lend more leverage when negotiating. This does not mean you can’t have leverage in a buyer’s market. If you’re selling in a buyer’s market, you’ll need to get information on prospective buyers. If a buyer “falls in love” with your house, or is in dire need to find a home, then you can have an advantage when fielding offers.

Don’t Show Your Motivation. While knowing a buyer’s motivation is greatly beneficial, a buyer knowing yours is equally harmful. Maintain solid footing in the negotiation by not sharing too much information. An empty house with disconnected utilities will point to a seller desperate for an offer. And every buyer or agent is looking for signs that you’re under a tight deadline. Keep your house staged and in good upkeep. And don’t let agents or buyers know your moving timeline or deadline. The negotiations will turn out far better if you do not appear pressured by finances or time.

It seems I am getting good at turning actual events into entries here but while in my office yesterday I was talking with a new agent that was struggling with some of his buyers in South Jordan and Herriman. We sat down went over the steps they had been through then evaluated what he could do better and alot of it came down to educating the buyer on what to look for and how to evaluate the homes they do look at. During this I found the following list that I hope can help you as a buyer in South Jordan and Herriman.

1. Find a REALTOR® who you can relate to. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you choose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.

4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.

1. Do not overprice the home. Buyers today are looking for a bargain, and the seller in the end will likely have to bring the price down to meet market demands. The longer the home sits on the market, the stronger the negotiating position of the buyer.

2. Select Internet-friendly pricing. More than 80% of home buyers begin their real estate searches online. Most real estate sites filter the prices in $25,000 to $50,000 increments. So while a creative price of $555,777 may grab attention, buyers who set their search maximum filter at $550,000 will exclude it. Additionally, prices ending in 000 (such as $500,000) tend to sell at a larger discount than homes ending in 500 (such as $524,500).

3. List the home on a Friday. Most buyers are checking out new listings on Fridays so they can see what is new for the weekend.

4. Occupy or stage the home. Buyers appreciate a home that is well attended. A vacant home typically feels cold and empty, while one that is still occupied has a warm, cozy feel, attracting more buyers. However, keep the personalization minimal; having neutral decor and paint colors will make it easier for a buyer to visualize their own style in the home. If a seller moves to a new residence before selling the old residence, it is a good idea to have the home professionally staged as if someone still lives in it.

5. Monitor local foreclosures.Foreclosures are costing sellers money and have become very aggressive opponents in today’s market. If the seller’s neighborhood has a lot of foreclosures, wait until they are sold before listing the home, if at all possible. Most banks are extremely eager to sell, thus creating an under priced competitor. If the seller cannot wait to list the home, it will need to be priced competitively with the foreclosures, which can dig significantly into the home’s equity.

6. Keep the home neat and clean. With so many foreclosures on the market today, buyers are seeing homes at their worst. If the home is presented in the best possible way, it will attract more positive attention.

7. Keep records. Foreclosures do not come with any disclosures. Sellers who keep updated records, photos and permits handy for the buyer to review will make them feel much more confident about buying the home, giving the seller a competitive advantage over foreclosed properties in the neighborhood.