Murray Real Estate & West Jordan Real Estate | Buying a Home, Selling a Home, First Time Home Buyers, Real Estate Market, Homes for Sale, Home Listings, Foreclosures » Questions and Answers

GETTING MORE BANG FOR YOUR BUCK

Taylor Nelson — Thu, 25 Mar 2010 21:27:29 +0000

Rates are low and home prices are as low as they have been in years. So what type of home is the best buy??? Obviously it depends on several factors such as city, location, square feet, acres, etc. High end homes and million dollar homes will be a great buy because the value on those homes have gone down the most. Another good buy is the home around $225,000. The Salt Lake Tribune reports, “Buyers are getting more for this amount of money than anytime in the past five years. And even though plenty of houses in this range are selling, there is no shortage of inventory.” To read the full article click here http://www.sltrib.com/ci_14657084?IADID=Search-www.sltrib.com-www.sltrib.com

MORE INFO ON $8,000 TAX CREDIT

Taylor Nelson — Fri, 12 Mar 2010 21:48:54 +0000

Just a reminder that the $8,000 First Time Home Buyer Tax Credit is still available. Homes must be under contract by April 30th of this year and must be bought by the end of June 2010. If you have any questions or would love to get started please contact me at taylornelson@homerealty.com Also if you would like more info on the tax credit below is a great website with lots of questions and answers. http://www.federalhousingtaxcredit.com/faq1.php

2010 HOUSING FORECAST FOR SALT LAKE CITY

Taylor Nelson — Fri, 19 Feb 2010 17:39:57 +0000

The Salt Lake Board of Realtors has released its 2010 Housing Forecast. There are many interesting facts and predictions. We were told that home sales were up 3% in 2009 as opposed to 2008. They also predict that homes sales could rise nearly 10% in 2010.

Many people ask about the price of homes and the Salt Lake Board of Realtors predicts that homes could continue to decrease 3 to 5% before starting to rebound. Even though the Salt Lake Board of Realtors predicts that home values will decrease it is still a great time to buy. Whether you are looking to buy a home in Murray, buy a home in West Jordan, or buy a home in Salt Lake County prices are relatively inexpensive and interest rates are still great. Also remember there is an $8,000 tax credit to all first time home buyers who purchase or have a contract in place by the end of April 2010.

DIFFERENCE BETWEEN A DEED & A NOTE

Taylor Nelson — Wed, 13 Jan 2010 21:49:52 +0000

It is actually very simple. The note is the loan contract and the deed is what helps secure the note to the asset. Things included in the note are: interest rate, terms of the loan, pre-payment penalty. When someone buys a home the deed is recorded with the county giving them title and ownership to the home and creates that security interest, and makes the debt or note secured by a specific asset.

WHAT SHOULD I REMODEL IN MY HOME?, RECOUPING COSTS

Taylor Nelson — Tue, 22 Dec 2009 18:53:13 +0000

So what is the best thing to remodel in your home??? If you are planning on staying in your home then you should remodel based on individual need. If you are remodeling with the intent to sell and trying to see which project will recoup the greatest value financially, below are a few good idea.

The National Association of Realtors did a study for 2009 in 80 markets across the country showing remodeling cost vs. value report. Interestingly 8 of the top 10 projects done in terms of costs recouped exterior replacements that cost less that $14,000. What this tells me is that curb appeal is very important.

The National Association of Realtors reports, “ On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1 percent of remodeling costs compared to 73.8 percent in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3 percent costs recouped.”

From my personal experience I would say remodeling kitchens and master bedrooms/bathrooms would be a great idea in terms of what people are looking for in a home. If you are looking for cheaper ideas to make a home more presentable I would suggest painting, replacing flooring/carpet, and keeping things looking clean and tidy. First impressions go a long way.

Below is a link to the NAR article which is very interested and insightful. http://www.realtor.org/press_room/news_releases/2009/12/exterior_proves

WHAT DOES A TITLE COMPANY DO??? TITLE COMPANIES IN UTAH

Taylor Nelson — Wed, 16 Dec 2009 18:52:48 +0000

Many of you may wonder “What does a title company do”??? There are many things a title company does, but the main one is to be a facilitator during your home buying process. Once an offer on a house is accepted you will pick a title company and make sure they have a copy of the contract. They will also issue you title insurance to insure that when you purchase the property that you own the home free and clear. The title company is also who will prepare all of the closing documents. They will also walk you through those papers when you go in to the title company to sign the documents. Below is a list of many of the responsibilies of a title company.

Preparing the closing documents for all the parties
Paying off the loan of the seller
Walking you through the paperwork at settlement and answering questions
Paying off the seller’s loan
On occasion depositing the buyer’s earnest money check
Coordinating paperwork between all parties involved
Prorating annual property taxes and other items such as rents collected if necessary
Coordinating the funding of the loan
Dispursing checks and commissions
Preparing and recording deeds and other necessary documents