Home Buyers
With the expiration of the First Time Home Buyer Tax Credit at the end of April, we will be holding a FREE seminar to go through the Home Buying process. This class will be held twice at the Salt Lake Community College Miller Campus in Sandy on MARCH 23RD and MARCH 30th.
This exciting new [...]
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If you are looking to buy a condo, a recent change to FHA loan requirements may just have made your condo purchase more difficult.
In order to get a FHA/VA loan on a condo, the condo development must be FHA approved. If the development has not been approved, it needs to go through a certification [...]
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Impending changes by the FHA (Federal Housing Authority) and HUD (Housing and Urban Development) could cost you thousands extra if you wait rather than taking the plunge and buy now.
These changes which are due to take effect between the March 31st expiration of the Federal Reserve Board’s mortgage backed securities purchase program (this is one [...]
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The homebuyer’s tax credit that was due to expire at the end of November has been extended to April 30th 2010. In addition to this a new tax credit has been introduced for current homeowners who want to sell their home and buy another.
The amount of tax credit for new homeowners remains the same [...]
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There is now a new Utah State incentive of $6000 dollars for home buyers, but it comes with limitations and in my opinion a major drawback. Unlike other incentives introduced at the federal level, the State incentive is limited to new construction homes. Now this is great if you are looking to buy a new [...]
In a recent study by the Utah Association of Realtors, when people were asked what are the top three challenges in the Utah Housing Market, the number one response was ‘lack of housing affordability’. Second was the ‘current state of the economy’ and third was ‘difficulty in getting a loan’.
The question is, is this [...]
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Now that the real estate market has slowed, lease to buy options are now being accepted by some sellers. If you are having problems obtaining a loan due to poor credit and the tightening of the lending guidelines, a lease option maybe the answer to your problems.
A lease to buy option allows you the buyer [...]
At the start of this month, Fannie Mae changed its policy regarding declining markets. Previously if you were in a declining market you had to put 10% down in order to obtain a loan. Now the policy has changed so that regardless of the state of the local real estate market buyers only need to [...]
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If you are looking for a place to rent, Salt Lake is an expensive place. Rents went up 8.8% from 2006 to 2007, with a further 6 to 8% rise expected this year. This coupled with a vacancy rate of just 4.5% means tough times for those looking for a rental property.
These are not my words, they are from a recent article in Forbes Magazine. According to the magazine article, Salt Lake is the sixth most recession proof city in the U.S. This is based on the fact that the city’s unemployment rate is low, that we are still creating jobs and that the housing market [...]