For what seemed like FOREVER, my husband and I watched as friends, family, even acquaintances bought their first homes, and felt the pang of jealousy. We longed for the day when we could wash our hands of the renting game and finally have a REAL place to call our very OWN. A place that we could paint and decorate and mold into OUR idea of a dream home.

We were sure that the day for us to own a home was, sadly, far away. One day, as I spouted my frustrations over apartment complex living to my parents (who were friends of Susan Russell), they gave us Susan’s phone number and said, “Why don’t you just call her and ask some questions. You might be surprised…”  So, reluctantly, I called, preparing myself to receive disappointing news of how far we really were from buying a home. Susan took down our information and got us together with her lender and we crunched some numbers. I was completely SHOCKED when I heard the news.

We qualified for up to $180,000!!! We were BEYOND excited!! We began searching for “the one”. Susan was wonderful at finding properties that matched the criteria we gave her. And her website was fabulous to use to help in the search. Susan was so great at being available and flexible with our crazy schedules. We saw several great homes with promising features.

I would generally go and see the houses and, depending on how much I liked the home, I would take my husband back for a second look. When I saw the place we now call “home”, I knew the moment I walked in the door I would be bringing my husband back to see it. I loved it instantly, but wanted to see what my husband’s take on it would be. I was tight-lipped about the whole thing, and after he toured the house he was ready to make an offer on the spot.

I was ecstatic that he loved it just as much as I did. To make a long story short, we now own our dream house! The process was an emotional roller coaster for sure, but Susan was so helpful and reassuring the whole way through. And I must say something about her lender as well. Julie Hall was EXCEPTIONAL. So professional, knowledgable, and extremely thorough. She went above and beyond to make sure we got the best rate possible with the best deal her company could offer. She was always so incredibly sweet!

Buying your first home is very intimidating and rather confusing at times with all the paperwork and procedures. It’s so easy to feel as if you’re signing your life away. Julie and Susan made the daunting task of closing on our home feel like a party! Any time I would start to stress (I’m good at that!), I would call either Susan or Julie and would immediately feel a million times better after that conversation.

Susan Russell and Julie Hall together made the PERFECT team. They were always ready and willing to answer any question any time day or night. We were ALWAYS well-informed and at ease after talking to either of them. We have been in our home about 6 months now and could NOT be happier.

The home is perfect, exactly what we were looking for! The neighborhood is fabulous! The school and Church are both within walking distance, we absolutely LOVE all of our neighbors, major shopping and dining are practically around the corner, and we’re smack dab in the middle of both the freeway and Bangerter Highway. We completely love everything about where we live, and we’re looking forward to all the wonderful memories we will surely make here.

We’re so glad that we made that decision to call Susan and “ask some questions”.

Russell and Elisha and their two beautiful kids are a darling family who were referred to me from dear friends Paul and Debra, who live down the street and are previous clients as well. Russell is still going to school to finish his degree and also works full time. Elisha stays home and takes care of their home and family. They had saved for years and now had the 3.5% down payment they needed to buy a home! They started in the Southwest part of Salt Lake County. They had previously been working with a different agent and were not very happy with the results.
Elisha did all the previewing of homes (with me right by her side); we went through homes from Kearns to Riverton and everything in-between. We looked at town homes and older homes, fixed up homes and homes in need of repair. We made offers on short-sales and on bank owned properties. We found that in this price range there is a lot of competition for the best homes, and often we had multiple offer situations where the homes were bid up higher than Russell and Elisha wanted to go. It was definitely a roller-coaster of emotions as we negotiated through the maze of possibilities and homes and offers and short-sales. They were so anxious to move out of the rental apartment that was making life miserable for the kids and everyone in the family! When they found the right home they just knew it was the one. It had all new carpet and paint with all new appliances and a completely finished basement with a walk out entrance! Not to mention the large yard which was just what they wanted for their kids so they could play in safely. This home was definitely the BEST home they’d seen so far in the newest condition and it even had central air conditioning. Here’s what Elisha had to say:
“Susan was such a pleasure to work with in purchasing our home! She put in countless hours helping us find a great place for our family. It was a breath of fresh air to work with someone who is willing to listen to our needs/wants and drive all over to find our home, visiting a few of the places multiple times so we could both see what was out there. Susan will work hard for you and we truly appreciate her and the service she provided to us!”

All indicators are showing that 2012 is going to be a great year for Utah’s Real Estate! We are finally starting to see dramatic increases in home purchases. I was out showing homes all day Saturday and the buyers are coming out of the woodwork!!! I took buyers to see some great options for new construction homes and the model homes we visited were so busy you couldn’t hardly find a place to park! First time home buyers are especially showing pent up demand and moving forward to get out of their parents basements and small apartments, and in to their own dream homes!

Some facts:
The National Association of Realtors is reporting sales of existing homes in Utah increased 38% per 3rd quarter 2010. that is an incredible increase in demand and, more importantly, points out the psychology change of the buyers out there.
So what’s the catalyst behind this recent increase in home sales?
Mortgage rates on the 30 year at or below 4%
15 year fixed around 3.25%
Home affordability is at an all-time high. Simply put, it’s currently cheaper to buy than it is to rent.
Utah’s resilient economy continues to add jobs and currently has a reasonable 6.4% unemployment rate, which is much better than the national average of 8.6%
One of the issues keeping prospective buyers on the sidelines is the perception that you “can’t get a loan” in today’s market. All of my many, many clients will tell you that is not true at all! There are still first time home buyer programs with 100% financing, special grants of down payment money, special loans for purchasing in more rural areas, special programs for those with low incomes, and many great options for credit repair.

Who do you know that may be wishing they could buy instead of renting? Give me their number and I’ll give them a call and show them how!

Short sales ARE nightmares! That is my mantra for the last 2 years…but today I have a successful story to share!

Two years ago I listed and started a short sale for a single mom, who needed help selling a home that she owed more on that it was worth. This home was, and still is gorgeous! Located in The Bluffs town homes in South Jordan, it had so much to offer! Designer Italian interior paint, vaulted ceilings, granite counters, knotty alder cabinets, stainless steel appliances too! It has 3 bedrooms, 2 and half bathrooms, a huge master bath with separate garden tub and shower and a full unfinished basement and a 2 car garage!  It had so much to offer then and even more now!  We started selling this home two years ago!  We have had 8 offers, and buyers have made offers from $189,000 to its current asking price of $154,000…all those buyers waited in vain hoping to get this home. However, all the previous buyers gave up and finally moved on to another home.  After the last buyer gave up and failed us…I got it back on the market and we currently have 5 offers on this home and had to ask for highest and best.

During this time I received a call from an investor named Devin who saw it and decided to make an offer and put down $2000 Earnest money and allow it to become non refundable if he cancels or quits before the bank responds, for up to 6 months.  This is going to help and we hope this is the successful  buyer that gets the PRIZE~!

The rest of the story is that on the night we first showed him this home, I also showed him two others that were available in The Bluffs complex.  We found out that one of those homes was threatening to go to foreclosure in just 4 days!  The investor decided to make an offer, and the long story short is that…he got an incredible deal on an amazing investment and it has the potential of closing in just a few short weeks!  If he is successful with the first offer as well, he will have two amazing homes in a great complex and be well on his way of securing some truly smart and savvy investments for his investment portfolio.

That is what makes this market so fascinating and challenging.  There are stories of success, stories of tears and anguish, stories of frustration and stories of utter and horrible failures!  They all make up this current crazy Real Estate market.  You really do need a professional and experienced Real Estate Professional to help you navigate through these treacherous waters!  Who do you know that is thinking of investing in Real Estate?

Norman Vincent Peale

“Never allow the excuse that “you don’t have the money” be the reason that you don’t
attempt something that would make your life great. . If you
currently are not experiencing the success you desire, rather than allowing money to stop
or delay your success, figure out what you have not yet learned to achieve that success
and make a decision today to begin learning what is really keeping you from your dreams.
You have all the power to design the life you desire. BEGIN TODAY!!!!!”

This applies to everything in life!  Today I want to apply it to Real Estate!  Are you renting and wishing you could own your own home but think that the “economy” is not good enough?  Do you know of people living in their parents basement just hoping they can some day buy that dream home of their own?  Maybe you are a home owner and have always wondered if you might be able to invest in Real Estate some day?  Do you know of anyone who is still in school and working and just doesn’t think they have the time to find a house of their dreams?

In later posts I will write about Bryce and Ashley, who have been living in student housing at the U of U and were hoping that in maybe 6 months they could find their dream home…in  1 day we found the home they loved and in 3 weeks they had moved in! Jessica and  Adam had been living in her parents basement to save money, they couldn’t afford much of a house payment, and they really wondered if it they could ever find a home, but with some diligent effort and the ability to see past some “ugly” homes they now live in their dream home!  Dave and Sharon have lived in the same home for the last 25 years and almost have it paid off…they have always wondered if they could buy a rental home and help their kids who were renting.  They are now investors with 3 homes within just a few miles where they live and looking for another one.

Who do you know that might have a question about home ownership that I can  answer?   I can help with 100% financing for first time home buyers, special grants and loans for unique neighborhoods, special programs for people looking to buy their first “2^nd” home and other great ways to invest in Real Estate.  There are programs that make home ownership especially affordable for  professions such as teachers, police officers, fire fighters, Emergency Technicians and more.  Please let me know who you know that I can help!

Jennifer and Aaron (names changed) were referred to me from my neighbors and good friends, Shauna and Gary. Jennifer and Aaron had some unique needs and wants! They hoped to find a home they could rent the basement out to provide extra income. During our search we found out there are A LOT of homes out there that needed a TON of work and repairs but only a few with mother-in-law basements! Many homes had mold issues and water problems and we wondered may have possibly had drug use in the home as well. It would have been easy to get discouraged, but these two had a vision and knew their dream home was out there somewhere!

Bedroom Finished

One important piece of the puzzle that I helped them with was…that they could get a special loan called a 203K which allowed them to borrow some additional money that can be used to fix up the home. This turned out to be exactly what they did! They found a Fannie Mae bank owned home in a really good neighborhood in West Jordan that needed quite a bit of work. They hired a general contractor, Darin Marsh, to oversee all the details and then they got to pick out new cabinets and appliances and colors of paint, and even flooring, just like in a new home! They also put in a lot of their own hard work to fix it up, painting the exterior and the little white picket fence around the front!

It’s hard to believe from the before and after pictures that this is the same home!

Jennifer and Aaron are so happy that they moved forward and decided it was time to buy their first home! Who do you know that it may be time to become a home owner?

Kitchen Finished

In the Deseret News a few days ago I noted an article that references a new program that has been created to STOP child ID theft. The identity theft of children is so insidious as it goes undetected for so many years, often the entire lifetime of the child.  It may not be discovered until they are 17 or 18 years old.   There are stories of parents finding that their children’s social security numbers we being used for years even BEFORE the children were were born, often by undocumented immigrants who pay for these black market numbers and then count on no-one noticing for years.

The Utah Attorney General’s Office has just launched a new program this last Tuesday that will prevent unauthorized use of a child’s social security number.  It is www.idtheft.utah.gov.  The Child Identity Protection program offers a secure online site where parents and guardians can register their children for protection from identity theft at no cost.  Identity thieves know that a lot is being done to protect adult ID, so now they are targeting the children.

Once enrolled, the Trans Union national credit reporting company adds the child’s social security number to a database it uses to alert creditors about potential fraud risk when requests for credit reports are received.  It remains there until the child reaches 17.  Another benefit is that if Trans Union determines that a credit file containing both the child’s Social Security  number and name has been created it purges the file of any fraudulent information and doesn’t allow access until the child’s 17th birthday.

For more information and to learn about protecting your own credit and ID go to http://www.idtheft.utah.gov/ and learn what you can do.

You can’t buy a house without good credit and a valid and clean Social Security record, so I’m here to pass along important information to help you as you and your family and friends prepare for home ownership and perhaps future investments!

Many  first time home buyer clients of mine… that are waiting for a short sale are sooooo patient!  I have several buyers that have waited and waited and waited!  Some of them were told that the bank would guarantee that it would only be 30 days from them sending in the offer before they got an answer.  I told them not to count on that!  Months later, those clients still have NOT received an official answer except…give us a better and higher offer!

Well, tonight I heard from the bank on another of my clients offer on a short sale home! They have been waiting for about 4  months!  They had an offer of $138,9000 on a darling home in Eagle Mountain with almost 2,000 square feet, a 2 car garage and nice size yard with a fence!  We were in first position,  which means that no other offers were given to the bank until we get the chance to take their counter offer or reject it.  Well, I advised them not to just wait for this one, and we kept looking!  Just last month we found another home they could love, also in Eagle Mountain with over 2,000 square feet, nice yard and a quiet tree lined street!  This one is  a bank-owned.  This one we were able to make a reasonable offer and the bank accepted it and we were under contract with them within a day!  They got the home for $144,500, with a great 2 year home warranty and 3.5% closing costs paid for them by the bank!  They were hanging on to the possibility of the short sale home as it was a little less, but we just heard from the bank tonight that they had to up their bid by $10,000 or lose it!

When you make an offer on a short sale home…the bank can take months and months to review…they can either reject, accept or counter your offer with their own higher offer.  In this case the   bank countered that the price had to be $149,900, and only 3% closing costs would be paid and no home warranty.  So this price is too high and if they had been waiting all this time for this one house, they would be out of luck with just one email from the bank!  THAT IS WHY SO MANY PEOPLE SAY THAT SHORT SALES ARE NIGHTMARES! Luckily my darling first time home buyers have a great Real Estate Agent (Me!! he,he) that took care of them and they listened to my advice to keep looking and found another great home with even more to offer them.    A happy ending to this clients SHORT SALE NIGHTMARE!

Now, who do you know that would like to get a great deal on their first home?  Hmmmm….I wonder who you could refer them to???

So, this is going to be another side of the Short Sale story…The happy buyer! I am talking about a great home in Heritage Farms Riverton, that was originally being sold for $540,000 but was now listed for $400,000.  There were several offers placed on this home, one of the original ones came in about $50,000 below asking price.   But, even those low ball offers can help out a seller, because you cannot submit a “short sale” package until you have an actual offer on the table.  So, this lovely home had been on the market for over a year now, had several offers on it when a woman walks in and within just a few minutes…says ‘This is the home!”

She shared with me that she and her husband had been looking at tons of homes…all over the south end of the valley…and that THIS was the home that felt so RIGHT!  I explained to her that there was already an offer on the “table” and that these first buyers had been patiently waiting for months and months, but these new buyers decided to put their “back-up” offer in too!   To make a long, long story short…These new buyers not only got the home of their dreams that felt so right…but they also got closing costs paid by the bank as well.  It is really quite rare to have banks pay closing costs for buyers,  (but it does seem to be happening a little bit more frequently lately).   To try to facilitate these buyers…as I was the listing agent as well as their buyers agent, I was calling most every evening from 6pm until 10pm to try to get hold of this “negotiator” and trying to get things to “move-along”!

Short Sales are such a frustrating process, because you have a motivated seller, you have a motivated buyer, you have 2 motivated Real Estate Agents and a bank that doesn’t “give a hoot” about anyone or any buyer or any seller or anything at all.  It is often so “mind-boggling” that banks (lenders) take so long and lose buyers and lose great opportunities to sell the property to a buyer that wants and will take care of the home.   We have been told that many banks have “negotiators” that have over 100 files (that means houses) to juggle!  That is why we as Real Estate Agents try so hard to be the “squeaky wheel” that gets the grease…and why so many banks make it almost impossible to even speak to a real live negotiator (person).

So, this last buyer, the one that said “This is it!!” made a higher offer than  the previous offer, and within a few short months was able to close on this home with closing costs being paid for them!  A sweet deal and a sweet miracle!  The seller was able to finally get a “huge gorilla” off their back…and the negotiator for the bank was able to move on to file number 99!

There is still so much more information on Short Sales that I will be sharing with you!  Be sure to sign up for future posts…right there on the top right hand corner!   There are good deals to be found in short sales…but remember the percentages…only about 15-17% of people making offers on short sales, actually end up with a short sale home!  Most of them get so frustrated and sick and tired of the games and delays and lack of communication,  and lack of progress, that they move on to a motivated buyer that is  NOT in a short sale status  and are able to move in to a great home in a month or less!