Buy a House

WHAT ARE INTEREST RATES AT???

Wednesday, March 3rd, 2010

People always want to know what mortgage rates are at. The Salt Lake Board of Realtors reports that the national average on a 30 year fixed rate is 5.05% These are some of the lowest rates we have seen in a long time.

Remember that mortgage rates can go up or daily on a daily basis. If you are interested in buying a home the best thing to do would be to talk to a lender. They can tell you what you are approved for and what rates are at that time. If you don’t have a specific lender I can direct you to a lender that is knowledgeable with lots of experience.

Tags: Mortgage Rates, Mortgage Rates in Utah, What are Mortgage Rates
Posted in Buy a House, Mortgages | No Comments »

$8,000 TAX CREDIT

Thursday, February 4th, 2010

Many of you are wondering about the $8,000 tax credit. This is just a reminder that if you are a first time home buyer and you purchase by April 30th, 2010 you will receive the $8,000 tax credit. In cases where you have a signed contract by April 30th and you purchase by the end of June you are still eligible for this tax credit. Whether you buy a home in Murray, buy a home in West Jordan, or buy a home in Salt Lake City, it is a perfect time to buy. Don’t miss out!!!

Tags: $8, 000 tax credit, 000 Tax Credit Extension, First Time Homebuyers
Posted in Buy a House, First Time Home Buyers | No Comments »

MILLION DOLLAR HOMES

Wednesday, December 2nd, 2009

One part of the market that is really struggling it high end homes. There are several reasons why this is the case. One reason is because several years ago new construction and million dollar homes were being built at a rapid pace. With a slow down in the market there are more million dollar homes than people are buying. Another reason these home might not be selling is because it is harder to get a loan today than it was a few years ago. This is even more true with Million Dollar Homes.

The Salt Lake Board of Realtors reported that “In the first nine months of 2009 in Salt Lake County, there were 40 sales of homes at $1 million or greater. That is down 34 percent compared to 61 sales above the million dollar mark during the same January through September period a year ago (there were 71 home sales at $1 million or greater in Salt Lake County for all of 2008). In 2007, the year home prices peaked in Salt Lake County, there were 134 homes that closed at $1 million or greater. In 2006, there were 133.”

The news that million dollar homes are harder to sell in this market it not good for current home owners, but at the same time this can be good for those that are in the market for a high end home!!

Tags: High End Homes, Million Dollar Homes, Salt Lake County Million Dollar Homes
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WHAT ARE THE DIFFERENT TYPES OF LOANS??

Wednesday, November 25th, 2009

One of the first steps to buying a home is getting qualified for a loan. This is a very important step because once you are qualified for a loan you will know how much you are approved for, what type of loan you need, and how much you will need to bring in as a down payment.

Here are a few different types of loans:

FHA LOAN

An FHA Loan is a loan insured by a government agency called the Federal Housing Agency. Typically on this type of loan a buyer would need to bring in about 3% of the purchase price for a down payment. There are also still some programs out there today where you can get a loan for virtually nothing down. An FHA loan is very common today and is good to do if you do not have enough for a big down payment that other types of loans may require. One important thing to remember on an FHA loan is that there are limits on the amount of the loan.

VA LOANS

VA Loans are for those that are qualified by military service or other entitlements. This type of loan is not extremely common, but may be a good option for you if you have served in the military.

CONVENTIONAL LOANS

Conventional Loans are also another popular type of loan. Typically you need a 5% down payment so many people opt to go with an FHA loan. This type of loan in not guaranteed or insured by the Federal Housing Agency, but typically these types of loans offer good interest rates.

This is just a brief overview of loans. There are so many types of loans such as an ARM, 15 year, or 30 year loan. If you have questions feel free to ask or I can direct you to a loan officer who would be well qualified to answer your questions.

Tags: Conventional Loans, FHA Loans, Types of Loans, VA Loans
Posted in Buy a House, First Time Home Buyers, Mortgages | No Comments »

$8,000 FIRST TIME HOME BUYER TAX CREDIT, SETS RECORD

Friday, November 20th, 2009

So the $8,000 tax credit was put in place to help stimulate the economy and help home sales. It looks like it is working. During the last year there have been more first time home buyers than ever before. The National Association of Realtors reports that ”the number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year’s study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991.”

For those of you that own a home hopefully this $8,000 tax credit will help keep home prices stable and help keep home sales moving. For those of you that are looking to buy a home and take advantage of low prices & low interest rates remember the first time home buyer tax credit expires the end of April 2010. Also, remember it doesn’t matter if you buy a home in Murray, buy a home in West Jordan, or buy a home in Salt Lake, you are eligible for this tax credit. To check out more info about this article I have attached a link. http://www.realtor.org/press_room/news_releases/2009/11/survey_record

Tags: $8, 000 tax credit, First Time Home Buyer Tax Credit
Posted in Buy a House, First Time Home Buyers, Housing Market | No Comments »

$8,000 TAX CREDIT EXTENSION

Thursday, November 12th, 2009

It’s true folks. The $8,000 first time home buyer tax credit has been extended until April 30th 2010. 1st time home buyers who buy a home, condo, or townhome will be eligible for this credit.

Remember there are income restrictions. Single buyers who make over $125,000 and and married couples who make over $225,000 will not be eligible for this tax credit. Also, this credit is only for homes purchased that are under $800,000.

There is also a $6,500 tax credit for current home owners buying a home that have lived in or owned their property for 5 years. Let me know if you have any questions about these programs. Remember this tax credit is available if you buy a home in Murray, buy a home in West Jordan, or buy a home in Salt Lake City. It is a nation-wide program.

For more info regarding this program read this article from the National Association of Realtors http://www.realtor.org/HOME_BUYERS_AND_SELLERS/2009_FIRST_TIME_HOME_BUYER_TAX_CREDIT

Tags: $8, 000 tax credit, 000 Tax Credit Extension, BUYING A HOME
Posted in Buy a House, First Time Home Buyers, Uncategorized | No Comments »

HOME SALES REBOUND

Friday, November 6th, 2009

I always hear the question Is the market rebounding??? We still have a ways to go, but the short answer is YES!!!! The National Association Reports Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months. To read the entire article click here http://www.realtor.org/press_room/news_releases/2009/10/rebound_shows

Tags: Home Sales in Murray, HOME SALES REBOUND, HOMES SALES IN WEST JORDAN
Posted in Buy a House, First Time Home Buyers, Homes for Sale | No Comments »

$4,000 HOME PURCHASE GRANT IN UTAH

Thursday, October 29th, 2009

This is just a reminder about the $4,000 Home Purchase Grant in Utah. As of today, 10/29/09, there are only 492 grants left. This grant is for buyers who purchase new construction. Remember this program ends when funds are gone or Nov. 30th 2009 or whichever occurs first. It doesn’t matter whether you buy a home in Murray, buy a home in West Jordan, or buy a home in Salt Lake, you are eligible for this grant when you purchase new construction. If you would like more info on the grant you can contact me or go to this website. http://b2b.utahhousingcorp.org/cgi-bin/R?P=HOMERUN2_INFO The $4,000 grant can be used as part of a down payment, to help with closing costs, or just to keep for something else!!!

Tags: $4, 000 grant, 000 HOME PURCHASE GRANT, Add new tag, UTAH GRANT
Posted in Builders, Buy a House, Home Builders | No Comments »

SUCCESS STORY! $8,000 TAX CREDIT AND $6,000 GRANT IN UTAH

Friday, October 23rd, 2009

So a friend of mine recently bought a gorgeous townhome in Salt Lake City and was able to get the $8,000 tax credit as well as the $6,000 Home Run Grant that the state of Utah was providing. Click below to see a tour of her new townhome!!!

I had always dreamed about and looked forward to the day when I could call a place my very own. After 10 years of paying rent, I knew I was ready to take that scary leap and finally buy a place of my very own. I wasn’t sure how I was going to be able to do it all, buying a house can be very expensive. I initially didn’t have a lot of money to put towards a down payment. But with the help of a $6,000 housing grant that was being offered by the state and the $8,000 tax credit from the Federal government, I was able to purchase my first home and pay for new appliances, washer and dryer, window coverings, and all of the other little expenses you don’t think about when buying a new home. And I still had some left over! I’m so happy I finally decided to take that leap, it has been one of the best decisions I’ve made. -Elizabeth Jarvis

If you have questions about the $8,000 tax credit or grant money in Utah please contact me for more info. Remember in order to get the $8,000 tax credit you must purchase your home before Dec. 1st of 2009.

Tags: $8, 000 tax credit, BUYING A HOME, GRANT MONEY IN UTAH, VIRTUAL TOUR
Posted in Buy a House, First Time Home Buyers, Homes, Townhomes | No Comments »

TOOLS TO START YOUR HOME SEARCH. BUYING A HOME IN MURRAY, WEST JORDAN, & SALT LAKE CITY

Tuesday, October 20th, 2009

So many people are interested in buying a home and they just don’t know where to start. First, you need to decide if buying is exactly what you want to do. One way to do that would be to contact a loan officer. They would be able to tell you how much you are approved for and how much your monthly payment would be. Many people find their home, put an offer in, and then decide later on that they just can’t afford it. Another good way would be to contact a real estate agent. Agents have lots of experience and can answer almost all the questions you will have about buying a home.

The National Association of Realtors had some good stats on information sources used in home seaches. The list below is what percent of people used these items in their home search.

Internet: 87%

Real estate agent: 85%

Yard sign: 62%

Open house: 48%

Newspaper ad: 47%

Home book or magazine: 30%

If you are thinking about buying there are many tools to help you get started. I would love to help by getting a feel for what you want and then I can also start emailing you listings so you can see what is out there. My website is another good tool to start your home search whether you are buying a home in Murray, buying a home in West Jordan, or buying a home in Salt Lake City. My website has a mortgage calculator so you can put in the price of a home you may want and it can tell you what your monthly payment would be. My website also has a link where you can start looking for homes by yourself. If also has a link to show you information about schools in certain areas.

Tags: BUYING A HOME IN MURRAY, BUYING A HOME IN WEST JORDAN, STARTING YOUR HOME SEARCH, TOOLS TO BUYING A HOME
Posted in Buy a House | No Comments »

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WHAT ARE INTEREST RATES AT???

$8,000 TAX CREDIT

MILLION DOLLAR HOMES

WHAT ARE THE DIFFERENT TYPES OF LOANS??

$8,000 FIRST TIME HOME BUYER TAX CREDIT, SETS RECORD

$8,000 TAX CREDIT EXTENSION

HOME SALES REBOUND

$4,000 HOME PURCHASE GRANT IN UTAH

SUCCESS STORY! $8,000 TAX CREDIT AND $6,000 GRANT IN UTAH

TOOLS TO START YOUR HOME SEARCH. BUYING A HOME IN MURRAY, WEST JORDAN, & SALT LAKE CITY

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Taylor NelsonRealtor

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Taylor Nelson
Realtor