Last week’s one housing report gave us the National Association of Realtors Pending Home Sales Index, down 7.6% for January. But year over year, the NAR Index is up 12.3 %.  Also, it’s now at 90.4 and a score of 100 equals the average level of contract activity for 2001, the base year, when activity was at a record high.  So pending sales are still in pretty good territory.

MEANWHILE, a quarterly report from a builders group and a major bank revealed that home prices are at near record levels of affordability.  In the last 3 months of 2009, a family making the median income of $64,000 a year could afford to buy 70.8% of all homes sold during that time!  According to this report, a home is affordable if a family making the metro area’s median income would have to spend no more than 28% of their take-home pay for housing.  Of course, there are variations in affordability around the US, but this is a great overall trend!

Buyers, however, shouldn’t expect great affordability to last forever.  According to a Freddie Mac Index, in the last quarter of 2009 four out of nine regions showed home price gains!  And the NAR’s monthly market forecast, out last Thursday, projected the median price of existing homes UP 2.8% for 2010 with the new home median price UP 2.0 %.  In addition, no one knows what will happen to mortgage rates once the Fed stops buying mortgage bonds at the end of this month.  Smart buyers shouldn’t drag their feet, especially those wanting the tax credit, which requires a signed contract by April 30.

I would love to hear from you to help you buy that new home.

call me @ 801-836-0205 or

email me @ tcolfack@gmail.com

Hope you enjoyed the last tips, here are a few more.

1.  Whenever I purchase a box of S.O.S. pads,  I immediately take a pair of scissors and cut each pad into    halves.  This way you have twice as many and they don’t go to waste.  It also helps sharpen my scissors.

2.  Spray your TUPPERWARE with nonstick cooking spray before pouring in tomato based sauces and there won’t be any stains.

3.  Use vertical strokes when washing windows outside and horizontal for inside windows.  This way you can tell which side has the streaks.  Straight vinegar will get outside windows realy clean.  Don’t wash windows on a Sunny day.  They will dry too quickly and will probably streak.

4.  Place Fabric Softener Sheets in dresser drawers and your  clothes will smell freshly washed for weeks to come.  You can also do this with towels.

5.  To easily remove burnt on food from you Skillet,!  Simply add a drop or Two of dish soap and enough water to cover bottom of pan, BRING TO A BOIL on  stove top.

Just a few fun tips.  Hope they will help you with some of your little problems.

If you need help with the problem of selling you home.  I can help you out with that as well.  Just email me at tcolfack@gmail.com and let me know how I can help.

Have a great day!!

A SEALED ENVELOPE-  Put in the freezer for a few hours, then slide a knife under the flap.  The envelope can then be resealed.

USE EMPTY TOILET PAPER ROLL TO STORE APPLIANCE CORDS.   It keeps them neat and you can srite on the roll what appliance it belongs to.  You can even cover the roll with contact paper to make it look good.

FOR ICY DOOR STEPS IN FREEZING TEMPERATURES:  get warm water and put Dawn dish washing liquid in it.  Pour it all over the steps.  They won’t Refreeze.  (wish I had known this for the last 40 years.)

TO REMOVE OLD WAX FROM A GLASS CANDLE HOLDER:  put it in the freezer for a few hours.  Then take the candle holder out and turn it upside down.  The Wax will fall out.

CRAYON MARKS ON WALLS:  This worked wonderfully! A damp rag, dipped in baking soda.  Comes off with little effort  (elbow grease that is!).

PERMANENT MARKER ON APPLIANCES/COUNTER TOPS:  ( Like store receipt BLUE!) rubbing alcohol on paper towel.

I hope that these tips will be of some help for you.  Some of them can even help when you are trying to get you home ready to sell!

I guess the biggest tip is when you are getting ready to sell your home or buy another one give me a call.  I will be a great help in helping you do both.

I’ll send more tips tomorrow!!

FHA loans which were the original “subprime” loans have come to be known for great options for first time home buyers or buyer’s with bad credit because of their current features:

1.  DOWN PAYMENT: they require very little down payment and that down payment can even be gifted from a family member or employer

2.  CREDIT: you don’t have to have stellar credit (or even a credit score at all with non-traditional trade lines) although most lenders require only 620 compared with Conventional at 680 or higher

3.  DEBT RATIO: you can have higher debt ratio (up to 58%) than conventional (44%)

4.  CO-SIGNER: borrowers who are students with no monthly income can use their “kiddie conco” feature and have a family member co-sign and qualify for the same terms as if the borrower were to qualify all on their own.

5.  STREAMLINE: Borrowers can also “streamline” refinance their loan with no appraisal or income documentation.

Hopefully, these few facts about FHA loans will help you to understand that their are still good loans to be had.

The insentivies are going to be gone soon and interest rates will be going up and so will the cost of homes.  Now is the time to find that dream home that you would love to have.  I would love to help you

Hi Everyone.  Well, I hope that 2010 is going to be better for all of us that 2009.

The housing market is predicted to improve in 2010 as both new construction and existing home sales are forecasted to experience double-digit gains, according to a report by Fannie Mae.

Many factors are contributing to the predicted turnaround, including:

Attractive interest rates

Extended/expanded homebuyer tax credits

Low home prices

How Much Will The Housing Market Improve?

the report forecasts that the housing market of existing home sales will rise by 10% in 2010.  This year, there was a 3.1% gain.

This increase in the housing market for new homes means that new residential contruction is expected to increase 35 percent in 2010.  New home construction dropped 38 percent in 2009.

How Has The Housing Market Been Recently?

The housing market rebounded at the end of 2009, as most markets have experienced rising home sales and declining home inventories.

Hoebuyer tax credits and low martgage rates contributed to this end of the year housing market spark.  In addition, home prices are still great deals, but are starting to stabilize.

November was an especially positive month for sales of existing homes, which increased 7.4 % to the highest level in 3 years.

October was also a good month for the housing market, as existing home sales rose 10.1%, while new home sales gained 6.2%

Home prices are in the early stages of stabilizing, and with the expansion of the tax credit to additional buyers through the middle of the year, home prices should rise between 3 & 5% in 2010.

Forty-two percent of Americans believe the country is back on the right track, more than double the number last year (16 percent)

Lets make 2010 a great year.  Together, we can find you that perfect home and help you sell the one you’re in now.

1.  Will someone always be home to answer the phone?

2.  are you prepared to spend evenings and weekends at home to meet prospects?

3.  Will you know about the latest financing methods?

4.  Will the prospects tell you the truth about their financial status?

5.  Can you get them to sign the purchase agreement?

6.  Who will draft the purchase agreement and insure that all legal forms and requirements are done correctly?

7.  Will you really save money selling your own home?

QUESTIONS TO ASK YOURSELF:

1.  What questions do I need answered already before buyers look at my house?

2.  What questions should I ask potential buyers as they are looking at my house?

3.  How do I determine what my house is worth in today’s market?

4.  Is it true that I save the commission if I sell it myself?

5.  Do I have the time to sell it anyway?

6.  What are my best sources of buyers?

7.  How can I improve my home’s marketability?

8.  How can I make my home more presentable during the showings?

9.  What should I say during the showing of my house?

10.  How will I pre-screen buyers?

11.  How do I know if a buyer is financially qualified?

12.  How do I get involved in my buyer’s financing?

13.  What do I need to know about a written real estate contract?

14.  What happens during the contract negotiations?

15.  Can a Realtor negotiate better than me as a 3rd party?

16.  What do I need to do between contract and closing?

17.  What are my closing costs?

18.  How can a Realtor actually save me more money?

19.  Do FSBO”S ever eventually list with a Realtor before they are sold?

There are many aspects about selling a house.  I do it every day.  I have sold hundreds of houses, I have 20 + years of experience.  You do what you do best and I promise you I will do what I do best; I will sell your home for the most money the market will bear and the least effort on your part.  I will negotiate and protect you so that selling your home will be a good experience for you.

Please call me at 801-836-0205, email me @ tcolfack@gmail.com or blog me.  I would love to interview with you.  Thanks,

A For Sale sign by owner in a yard is an invitation to anyone to ask to see your home.

There have been many instances where thieves have posed as prospective buyers to learn what might be of value in the home… or worse, how to gain access to the home while someone is alone.  People with felonies or criminal intent do not take the risk of being accompanied by a licensed real estate agent who could later be a witness against them.

Before a professional agent puts anyone in the car to see a listing, they have each buyer pre-qualified as to their needs, desires and financial capabilities. 

Since you don’t have this opportunity, you must be very careful about who you show you home to and have more than one family member home during the showings.  Do not explain too much about how your alarm system works or what your family’s work and life habits are.

Never allow people looking at your home to be alone.  Always go with them from room to room.

Be certain that all jewelry and other small valuable items are well hidden

Be certain that you know the location of your keys at all times.  Shoud one turn up missing, change that lock as soon as possible.

Never leave a minor child alone in the home.

If there are two or more parties being shown the home, be certain they stay together.  Never allow one to go off by himself.

Never, under any circumstances, indicate that you will be alone in the home at night.

Please be careful.  Selling ones home has many aspects to it.  Use a professional.

Call, email or blog me.  I will be happy to help you.

What do we do for our commission that you cannot do?  First, and most important, we have more prospective buyers coming to us.  Another important fact is that we act as a third party.  This is very important when you start negotiating.  People will be more candid with us than to the seller directly.  If they make a ridiculous offer or make a less than flattering comment about something, you might be offended and end the sale before it started.  Through comparisons, we can show the buyer your home is worth the asking price.  You only have one home to show.  When your phone rings, how do you know what the person on the other end is interested in buying?  This is a great community but  we are not above crime.  We professionally market your home, for the highest market value, while protecting you, your property and your interest.

If you would like some help selling your home, please call, email or send me a blog.  I will be happy to help you.

The U.S. Congress has approved a bill that extends and broadens tax credits that were set to expire this month.  The bill extends the credit for contracts signed by April 30th and closing by June 30th.  Income limits are expanded to cover more affluent buyers; couples earning up to $225,000 and individuals earning up to $125,000 annually now qualify.  It  also creates a new $6,500 credit for buyers who have owned their current home for at least five (5) years.  Homes worth more than $800,000 wouldn’t be eligible.

Please contact me with any questions or needs.

Tammy K. Colfack    801-836-0205 or tcolfack@gmail.com or blog me.

There are many factors to consider in selling your home.  It is not an easy task.  You will hear stories of people that sell their house for more money than what a Real Estate company said it was worth and  in only a few days.  This has happened; however, not very often.  I can tell many more tales of how people have tried and failed.  If it is that easy to sell your home, why are there so many Real Estate companies? 

BUYERS LIKE WORKING WITH REAL ESTATE AGENTS      

You, as a “For Sale By Owner.” are likely to be dealing with a more sophisticated, bargain hunter type buyer.  First time buyers feel more secure with Realtors.  Sincere and serious buyers appreciate our resources for finding a variety of homes in their price range, as well as our expertise in negotiating and following through on the preocess of the transaction.  We charge no fee to the buyers.  We drive them around and cater to their every wish.  When you bought your home, did you use the services of a real estate company?  Most people do. 

There are many more reasons to use a realtor.  I’ll tell you more next time.  

If you want more information on buying or selling a home.  Please call, email or blog me.  Hope to be hearing from you soon.