Every year Provo celebrates the 4th of July in style. There are several events planned. Beginning as early as February with the celebration of President Lincoln’s birthday at the Provo Library Academy, the 2009 celebration is packed with events for everyone. Downtown Provo turns into a Freedom Village. The Provo Tabernacle grounds is filled with local merchants, vendors and others and booths are set up for face painting, hair braiding, food, rock climbing, and more.

Other activities fill the calendar during these months. The famous Essay Contest took place on March 17th in different Utah schools, the Speech Contest is April 29th at the Provo City Building and the Baby Contest is scheduled for June 6th at Utah Valley University. Contestants must exhibit this year’s theme: “To celebrate, teach, honor, and strengthen the traditional American values of family, freedom, God and country”. Winners are recognized in the Grand Parade on July 4th. Check here for 2009 event calendar.

The Grand Parade is the highlight of the Freedom Festival. It draws thousands from all over and it is truly a sight to behold. It is considered the best of its kind in Utah with carefully crafted floats, music, dancers, displays and entertainment.

On the evening of July 4th is the Stadium of Fire held at the Lavell Football Stadium at Brigham Young University. Attended by about 50,000 people inside the stadium, with over 100,000 more watching from in and around Provo, the show is capped by fireworks. Last year Miley Cyrus and the Blue Man Group entertained the huge crowd. This years’ guest of honor will be the Jonas Brothers. The show has hosted famous performers such as Mandy Moore, Corbin Bleu, Beach Boys, The Osmonds etc. The United States Department of Defense has broadcasted the Parade and Stadium of Fire to the Armed Forces for four years.

While in Provo please check out some exciting homes for sale and contact us ahead of time to schedule your private tour of these homes. We have a great selection of homes for sale available all over Utah County. Whether you are looking for a small home, a luxury home or a mansion, we have them all.

While the housing crisis seems to be easing a little because more buyers have stepped up in the market, more and more foreclosures are in process as the number of mortgage defaults keep rising. Caused by several factors, for most of these homeowners it may be too late.

Provo, Utah is no exception. On April 22nd, 2009, a new foreclosure report showed Provo & Orem Utah area as seeing a surge in foreclosure homes, ranked 37th in the first quarter foreclosure home fillings. This means that more homes are coming on the market as foreclosed, bank owned homes.

How to buy a bank owned home:

1. You can buy a bank home as a short sale (pre-foreclosure). This is done when the owner still owns the property. The sale goes through the bank for approval because the purchase price is usually lower than what is owed by the seller (borrower). The bank becomes a third party in the sale. This is usually done to avoid foreclosure. It is a win-win situation because it can mean great savings to the buyer and lender (who doesn’t have to pay an attorney to foreclose on the home). It is also less damaging to the seller’s credit than a foreclosure per Fannie Mae guidelines as of July 2008
2. You may also buy the home at a foreclosure auction. Provo Utah foreclosure auctions are held at the County Courthouse in Provo. Please call me if you need to know the time and exact address for auction on a bank property. You will need $5000 in money order or cashiers check to register to bid. If you win the bid then you are required to pay in full the following day. Failure to pay will cause you to lose the $5000. If you do not win the bid, your $5000 is refunded to you.
3. Probably the easiest way to buy bank owned property if you do not have cash is after the foreclosure. If the bank is unable to sell the property at the auction they will put it back on the market as a public listing with a foreclosure agent, also known as REO agents. These agents work directly with the banks to market bank reo or properties bought back by the banks. These bank owned properties are often sold at great discounts but you need an experienced agent to determine if the price is good or not. Contact Grace before you buy. Just because it is an REO does not mean that it is a great deal. The offers go directly to the bank and you can close very quickly.

If you are interested in a property that is going into foreclosure please call me right away so we can be ready to submit and offer as soon as it comes back on the market with an REO agent.

Please search for homes, luxury homes and mansions by clicking here.

The Bureau of Economic and Business Research at the University of Utah estimates that the rate of foreclosures in Utah will increase at least 3% in 2009. That means about 13,000 more Utah homes will be foreclosed on, doubling the previous high of 6,800 homes in 2002. Up to now most foreclosures have been in the new construction market due to investors, speculators and builders gambling on continued rising prices. Most of these homes are also the upper end, Luxury Homes that are too expensive for the average Utah family.

In 2009 we’re beginning to see the market being hit from every housing sector. Lower priced homes are still selling well in Utah although at reduced prices from a year ago. We’re seeing an influx of foreclosures in the upper end, Luxury Homes market. These homes are being sold at great discounts, most going as short sales or foreclosures. For example a two-year old luxury home that was listed for $559,000 just sold for $325,000

This unfortunate situation provides buyers of Luxury Homes the opportunity to purchase a home at a great price. For those who need to move up into a bigger home, this is a great time. Check out beautiful homes at: www.buyutahmansions.com

The real estate market is just like any other market. It is driven by supply and demand. A buyer’s market simply means that there are more inventory of homes for sale than the number of buyers actually buying homes. This provides a wonderful opportunity for any buyer who is ready and able to purchase a home.

High Inventory: Buyers can pick and choose and sellers realize that they have to make their homes competitive by doing all that they can to present their homes in top shape.

Seller Incentives: Because of high inventory, sellers are more negotiable on prices and terms. They are offering incentives to attract buyers. Some of these might be free home inspections, home warranty, furniture included, pre-paid homeowner’s association, and the top one is seller paid closing costs.

Builder Incentives: Builders are sellers and they hate sitting on inventory of unsold homes. Their incentives may include free landscaping, big screen TV, etc.

Low Interest Rate: The cost of financing a home cannot be under stated. A point lower in interest rate can mean savings of thousands of dollars over the life of the loan. A low interest rate also means lower monthly payments making home purchases more affordable.

Build Equity: Right now you can buy a home with good amount of equity. With the economy showing signs of recovery (we‘re already seeing home prices creep upwards in the past month), there’s opportunity for today’s home buyers to gain record appreciation within just a few years.

For questions or more information please feel free to contact me.

Ever wanted to own a luxury home in Utah? Now may be your best opportunity. The real estate boom brought many outstanding builders into Utah a few years ago. They built some of the most beautiful homes and mansions in the country and earned Utah a top spot as the state with the highest number of luxury homes and mansions.

Now that the tide has turned, Utah is offering a once in a lifetime opportunity for those home buyers with taste, and style. Utah’s selection of luxury homes and mansions is unmatched! From the suburbs of Salt Lake City to Park City to the prestigious home of Brigham Young University, that is Utah County; including Provo, Orem, Alpine, Highland, Lehi, American Fork etc. Utah is packed with amenities. Prices have never been better. To view some, click here.

We have a great number of foreclosed luxury homes and mansions now available for sale at rock-bottom prices. Some of these homes are brand new or built within the past couple of years.

Search for homes, click here.