Got this from UAR (Utah Association of REALTORS®). How slow are short sales? What a great question! If you’re thinking about selling your home short (briefly defined as the lender(s) will take short of a full payoff) or purchasing a short sale, how long will it take? Here’s a list recently published by Deutsche Bank [...]
Good News! Quick Utah Real Estate Market Stats
What is going on in Real Estate? In these uncertain economic times, it’s always nice to hear some positive news. Here are some quick facts about the market that you can actually feel good about. Hat tip to the Utah Association of REALTORS®. Area housing affordability remains high: Nearly three-quarters of all homes sold in [...]
Why today’s marker isn’t Always a Screaming-Deal Buyer’s Market
So many buyers are under the impression that they can steal a home for easily 30-50% under market because there are so many homes out there including short sale (pre-foreclosure) and bank-owned (foreclosure) homes out there. What they probably don’t know is the total inventory of homes has dropped by nearly 30% between August of [...]
The New Tax Stimulus Bill as it Relates to Real Estate Explained in English
Thanks to Don McClure from Bank of America who shared this great information with me regarding some exciting news for those considering buying their first home; or for those buying up if they’ve been a home for some time. Tax Credit for Homebuyers First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned [...]
FHA Condo Approval UPDATE
Looking to purchase a condominium or townhome for yourself or for an investment property? Before you do, please check with your REALTOR and lender to make sure the community meets the Federal Housing Administration‘s guidelines for resale purposes/considerations in the future. Here’s the latest news about new FHA rules. This update contains the temporary changes [...]
Good news! Banks can’t negotiate REALTOR Commissions in Short Sales
In the world of preforeclosure sales-often referred to as short sales-banks have put REALTORS® into a difficult dilemma: either cut commissions they’ll be willing to pay to approve a sale as THE third party to a transaction, or walk away from the deal. Let’s start at the beginning… A completed short sale is a real [...]
