Thursday, April 26, 2012

Foreclosure rates drop dramatically in Utah's large metros

SALT LAKE CITY — The number of properties falling into foreclosure is falling dramatically, a new report indicates.


The RealtyTrac Q1 2012 Metropolitan Foreclosure Market Report showed the rate of first quarter foreclosure activity in the state's most populous metropolitan statistical areas declined at least 22 percent from the last quarter of 2011, and at least 42 percent from the same period last year.


  • The Salt Lake City metro area reported a rate of foreclosure filings — default notices, scheduled auctions and bank repossessions — of one in every 163 households, putting the state capital at No. 47 nationally.


  • The Provo-Orem area ranked No. 52 with one in every 174 households reporting a filing — down more than 25 percent from last quarter and 42 percent year over year.



  • The Clearfield-Ogden area, ranked No. 117, reported a filing in one of every 330 households — down more than 26 percent from the previous three-month period and a decrease of almost 56 percent year over year.

Saturday, April 21, 2012

Shadow House Inventory - How does it affect us all ?

Homeowners who have defaulted on their mortgages may have received somewhat of a break during the last year, as most lenders had to stall foreclosures due to a sizable backlog of these properties. Now, some of these homeowners may need to be prepared to undergo the foreclosure process, as some 1.6 million properties begin to enter the market.

Real estate observers have known about this "shadow inventory" for some time, which is what has caused many to couch any optimism about a housing recovery with the reminder that foreclosures are likely to pick up this year.

So just what is "Shadown Inventory?" ....Shadow inventory is not easily defined. It has different definitions depending on who is making the definition. Standard and Poor’s defines it as “outstanding properties whose borrowers are 90 days or more delinquent; properties currently or recently in foreclosure; and properties that are owned by the lender but have not yet been resold, or REO.” Simply put, these are homes that are about to be in foreclosure, in foreclosure, or just foreclosed but not yet resold.

"The low foreclosure numbers in the first quarter are not an indication that the massive reservoir of distressed properties built up over the past few years has somehow miraculously evaporated," RealtyTrac CEO Brandon Moore told Real Estate Economy Watch. "There are hairline cracks in the dam, evident in the sizable foreclosure activity increases in judicial foreclosure states over the past several months, along with an increase in foreclosure starts."

In Utah, foreclosures ranked ninth in the nation through the first quarter of 2012, with one in every 198 properties going through that process. Throughout most of the last few years, Utah has been near the top of the list of states with the highest number of foreclosures, despite its strong economy and employment numbers.

Wednesday, April 18, 2012

Prepare Your House For a "STRESS FREE" Sale - When your Home becomes a

[[posterous-content:pid___1]]Let’s face it: this is your home and you may have lived there many years, perhaps all your life. It is chock-full of memories and the feeling of being uprooted is unsettling. Fortunately there are many ways to cope:

  • Preserve the memory of your home by taking pictures or video taping your house, both inside and out. You won’t be watching them however, because you’ll be too busy whipping your house into shape and, once you’ve moved to your new house, you’ll be too busy with life. The process, however, helps you to say goodbye to your beloved home.
  • Hold a home farewell party to announce that you’re selling and moving soon. This accomplishes three things:
      1. By breaking the news, you and your family are now committed and must get your ‘butts in gear’.
      2. It’s the right audience to ask for help and support.
      3. Your guests may know somebody who might be looking to buy a house. Why not start marketing your house right now?
  • Stay positive. Moving provides you the opportunity to leave old baggage behind and start afresh. Think of what new and exciting possibilities life could bring.

If you’re not mentally ready, you’ll become sick and tired of this whole process very quickly and you’ll quit.

The danger is you’ll end up dumping your house at a fire-sale price out of desperation. Start calling your home a HOUSE. It’s now officially a commodity. You should use the term ‘house’ from now on.

Now you also need to take care of yourself. The home selling  process can be very stressful. I have told my husband we need to move at least every three 3 so I can remember just what you will be going through.

[[posterous-content:pid___0]]The moving, packing, cleaning and stress can take a toll on your body so I would like to recommend Dr. Clinton Youngberg   | HealthSource of South Ogden | 801-430-9024

I have been to him a couple of time and I am already feeling the results. I no longer have the headaches like I did.

So lets prepare both your home and your body for a very Healthy home sale!!

Sunday, April 15, 2012

What do you as a resident of Rivedale Utah and/or surrounding area feel about this issue.

What do you as a resident of Rivedale Utah and/or surrounding area feel about this issue. The reason I picked Riverdale is because I am a resident of the Riverdale area.


If you have not heard the local sign companies are looking to move the old billboard in the state to electronic sign. This issue has been on the local news with Salt Lake City in the the for front.

Here are my feelings and I would love to hear from you. There are 12 billboards along the  I-15 freeway with in the jurisdiction of the Riverdale City Utah limits  that could be effected by this issue. Some of the concerns with these billboards are


  • The distractions they my cause,
  • The amount of light they put off
  • The number of  times the advertising will change in any given time.

I have driven around Riverdale and the surrounding areas  looking at the billboards along the way,  my personal feelings are that the signs with the spot lights on them are much brighter then the new electronic billboards and are only changing about every 6 - 8 seconds with a different advertisement  appearing up to 6 different time. If these billboards were going to be a distraction they are already in place with the current locations.   The number of signs will not change but can be limited to what is already in place.

Traveling down the freeway at 65 to 70 MPH 8 seconds is only time for the sign to remain on the same ad or changing just one time not causing any more distractions then the billboards that are currently in place.

When it come down to it,  how many of us really pay attention to the billboards that are currently installed? Some of these area there were billboards that were advertising “rent this space” or  are run down creating an eye sore instead of what there intended purpose really is. With the new electronic billboards it will be more cost effect to keep these billboard up to date fresh looking and we would not have the issues of hanging canvass or faded advertising and be able to say up with the time and new technologies.


Second with the world we live in wouldn't it be nice if there was a amber alert (missing child) it could by the flip of a switch all the elecronic signs could turn immeditly to these alert save pressus time and alerting all of us to be on the look out for a missing child,  a current car or the person who may have that child.

All in all I don't see it as being a problem but would allow Riverdale to keep up with the time. What are your thoughts.

Wednesday, April 11, 2012


Flyer.pdf Download this file
HONEY STOP THE CAR!! This is the one. Immaculate 2 story home in a very desirable neighbor in East Layton. 4 large Bedrooms 3 baths bright open kitchen with semi formal eating area. Vaulted Ceilings, Newer carpets and Paint. Large family room off of kitchen great for entertaining. Master suite, huge master bath with large jetted tub, separate shower and walk in closet. Fully landscaped yard with deck, fountain, auto sprinklers, RV parking and shed. Great View of mountains This is a must see.

Monday, April 9, 2012

Utah Limits Time Within Which Banks May Seek a Deficiency After Short Sale | Foreclosure News | Foreclosure Attorney & Foreclosure Defense Information

For those of you in Utah and considering a short sale, this might sweeten the deal for you. On March 8, 2012, Utah enacted S.B. 42, which limits the time to three months after a short sale to seek a deficiency. Before S.B. 42, lenders had six years.

That means the bankers get three months in which they can sue you for a deficiency if you do a short sale. I think this makes a lot of sense — I think a lot of people feel like a short sale is a preferred option to simply walking away or losing the home to foreclosure, and once the three month period runs, they can get on with their lives.

By the way, if you are in Utah and need foreclosure help, or short sale help, talk to Utah foreclosure defense attorney Jonathan Jaussi, who is a regular contributor here on the site. You can visit his firm website at or contact him here.

Sunday, April 8, 2012

Riverdale Utah - Bike/Pedestrian Master Plan Ad Hoc Committee - Get Involved

If you love bike riding and want to get involved here is a great opportunity for you to make a difference.


The Riverdale City Council recently approved the creation of a Bike/Pedestrian Master Plan Ad Hoc Committee. The purpose of the committee is to assist in creating planning guidelines for making the city a more bicyclist and pedestrian friendly community.

The committee will be made up of a representative from the City Council, Public Works Department, Community Development Department, Police Department, and citizens of the community. The committee will propose recommendations to amend the General Plan, which will then be considered by the Planning Commission.

Residents who would like to be considered for placement on the committee need to print and fill out the application by clicking here. Then return the application to: Riverdale City Community Development Department, Attn. Randy Daily, 4600 S. Weber River Drive.

If you have any questions please call Randy Daily at 801-394-5541 ext. 1215.

The Utah Department of Health has prepared a guide on creating a Bike/Pedestrian plan for communities. To view the guide click here.

Friday, April 6, 2012

WELCOME TO RIVERDALE UTAH-- Boot Barn®, the nation's largest western and work wear retaile

Boot Barn®, the nation's largest western and work wear retailer, will celebrate the opening of their first store in Utah in the Ogden suburb of Riverdale, at 5320 South Freeway Park Drive, just off I-15 and West Riverdale Road. The Grand Opening Sale starts Friday, May 4th at 10am and continues through Sunday, May 6th.

Boot Barn® offers the largest selection of boots, hats, jeans, shirts, outer wear, protective work wear, belts, and accessories for both the western and work customer. For over 30 years Boot Barn® has focused on providing quality, top brand names, including Wrangler, Ariat, Justin, Carhartt, Wolverine, Levi's, Resistol, Timberland PRO, Cinch, Dan Post, and Tony Lama, at the best prices. To celebrate the new Riverdale store, Boot Barn® will host a Grand Opening Sale featuring $20 off regularly priced boots over $100, 20% off all Carhartt quality work clothing, and $5 off all jeans and shirts for the entire family.

"We're very excited to make the move into Utah and be part of the Riverdale community, and we look forward to meeting all of our new neighbors," said Patrick Meany, CEO, Boot Barn®. "At Boot Barn®, we take great pride in ensuring that our customers get the best value in quality western and work boots and apparel each and every time they visit our stores. We want to invite everyone to come on down and help us celebrate the opening of our newest location in Riverdale."

Boot Barn® has been outfitting the West since 1978. With the expansion into Utah, Boot Barn® now operates 87 stores in nine states including Arizona, California, Colorado, Montana, Nevada, New Mexico, Oregon, Utah, and Wyoming, and has online shopping available via their mobile-friendly website, all offering the largest selection, best service and lowest prices -- guaranteed. For more information, call 888-Boot-Barn or visit

Act now! 10 major housing markets with the shortest supply of homes

As you can see below in the article from MSN, Salt Lake and Ogden Utah rank 5 in the nation with the shortest supple of home for all the new buyers on the market.
I am currently working with 5 buyers in all different price ranges and we can not find properties to meet their needs.

The economy is starting to pick up and people are starting to move. This is creating a supple and demand situation for both buyers and sellers. If a home is priced correctly they are receiving multiple offers in less time. Homes are selling for listed price and in some locations above listed prices.

Its important if you are a buyer to keep this in mind so your do not lose out on the home of your dream. The times have past when you could come in with a low ball offer hoping for a counter offer.

Now sellers don't wait NOW is the time to get your house on the market priced right and ready to beat the spring rush or bank owned properties scheduled to high the market.
For more information on local details or numbers of your area give me a call today I will be glad to provide you with more information for your location.  Lori Fleming 801-940-9560

Act now! 10 major housing markets with the shortest supply of homes

By Melinda Fulmer of MSN Real Estate

It's slim pickings for buyers in these 10 housing markets, where resurgent demand is beginning to outstrip supply.

In these areas, the economy has started to pick up, but sellers haven't gotten off the fence because prices are still low. Those who do, however, often get multiple offers, and many sell their home for more than list price.

Of course, these tight markets could loosen up in coming months as banks dispose of more foreclosed properties and owners with equity see how quickly things are moving. For now, however, it's a sellers market, with homes often going under contract the same day they hit the multiple-listing service.

Here, ranked by their plunge in inventory, are the 10 tightest housing markets among the nation's 50 most populous metros,


Decline in inventory: 42%

This mountain-high city never experienced the highs and lows in home values that its coastal counterparts did. And now, with rents rising and vacancy of just 2%, more apartment-dwellers are taking the plunge into homeownership, local broker Gary Bauer says.

This city's inventory in February was down 42% from the same period a year earlier, at just 10,086 units. The number of homes going under contract spiked 19% between January and February of this year as buyers raced to take advantage of low interest rates and relatively low prices.

Portland, Ore.-Vancouver, Wash.

Decline in inventory: 38%

The number of available homes in these beautiful Northwest markets slid 38% in the last year to 7,113, as buyers scrambled to pick up a bargain. Downtown condos are becoming scarce, as are homes in coveted Portland neighborhoods such as Irvington and Alameda.

"People are snapping up everything there as quickly as possible," says Niels Brownlow, a broker with Coldwell Banker Barbara Sue Seal in Portland.

A year ago, buyers could wait three months and still find the same home sitting on the market, but that's no longer the case with decent listings. "If (buyers) are not there the first day it comes on the market, it's gone," he says. Prices aren't shooting up, but many properties are selling at list price or above.

Seattle-Bellevue-Everett, Wash.

Decline in inventory: 36%

Seattle came late to the housing bust, and it might just leave early.

The number of homes listed for sale dropped 36% since February of last year to 7,042, as buyers have returned to the market to scoop up lower-priced homes. Some desirable inner-fringe neighborhoods were even tighter.

Jed Kliman, managing broker at Windermere Realty in Seattle, says there's a "frenzy" to get in at what most people think is the bottom. Just how long this frenzy will last is anyone's guess, Kliman says, but the competition has already started to nudge up prices.

San Jose, Calif.

Decline in inventory: 34%

High-tech job growth and rising rents have fueled an increase in buyer demand in the Silicon Valley.

In February, 3,957 homes were for sale in San Jose, a 34% drop from February 2011. That's because it has now become cheaper to buy an entry-level home than to rent in this pricey area, says Rick Turley, president of Coldwell Banker Residential Brokerage San Francisco Bay Area.

It's unclear how long this trend will last. Prices for modest homes are on the upswing, especially in coveted areas of Palo Alto and Mountain View.

Salt Lake City-Ogden, Utah

Decline in inventory: 31%

The recovery is officially beginning in this mountain market. Low- to middle-priced buyers are out in force, trying to take advantage of low interest rates and affordable prices, says Dave Winters of Re/Max Associates in Salt Lake City.

"They know we've hit bottom and are moving up again," Winters says. "There's no longer a complacency among buyers."

Salt Lake City and Ogden had 6,743 homes available for sale in February, a 31% drop from February 2011. The scarcity of homes at the lower price points has prompted multiple offers and sales over list prices. Higher-end homes are the ones lingering.

The strong demand is even prompting some owners with equity to list their homes, knowing that they can get a lower price on a move-up home and that they won't have to wait long for their property to sell.

Sacramento, Calif.

Decline in inventory: 30%

California's capital city is once again bouncing back, after taking a starring role in the foreclosure crisis several years ago. The number of listings here dropped 30% between February 2011 and February 2012, to 8,433.

Even higher-end homes are moving again, says Laurel Davies, an agent with Century 21 M&M Associates. A $700,000 golf-course home she sold recently received six offers in its first few days on the market. "(People) are speculating that interest rates may rise after the election," she says, "They are trying to buy an upscale home while they still can."

Entry-level homes are selling briskly too, as more workers can now afford them. Even short sales, which many buyers used to avoid, are now receiving multiple offers, Davies adds, which is nudging prices up a bit in many neighborhoods.

San Francisco

Decline in inventory: 29%

As of February, 3,533 homes were for sale in San Francisco, a 29% drop from the same time a year ago.

The recovery here started at least a year ago, as job growth and demand swelled. But because the flow of distressed properties from the banks has slowed to a trickle, not much is available to buy. And few traditional sellers are listing their home, because they don't think they'll be able to turn a profit.

Still those attractive homes that do hit the market sell quickly, typically with three to five offers, Turley says.

Birmingham, Ala.

Decline in inventory: 29%

Homes in this Southern city are moving briskly, with more higher-priced homes and new construction starting to sell. Inventory here dropped 29% in February from the same time a year earlier, to 7,191 homes.

Homes aren't disappearing from the multiple-listing service, as they are in some other cities, but the number of days a home spends on the market has declined as prices have stabilized and buyers feel more confident about the market.

Memphis, Tenn.

Decline in inventory: 29%

Who knew Memphis was so hot? Low prices in this river city are bringing out a new crop of first-time homebuyers, as well as foreign investors looking for rental property, agent Rita Driver says.

"I'm winding up with more multiple offers now than I have had in the last five years," Driver says. And, unlike in years past, more of these buyers are armed with big down payments.

In February, 4,916 homes were for sale in Memphis, a 29% drop from the same period a year earlier. It's not just first-time homebuyers looking for a bargain, Driver says; even higher-priced homes are moving again. "Our market has pretty much returned back to normal" in terms of sales, Driver says. Prices? Well, that's going to take some time.

"We are starting to see a leveling off overall," Driver says, with a modest uptick of 2% in the most desirable neighborhoods.

Richmond-Petersburg, Va.

Decline in inventory: 29%

Buyers are out in force in the Richmond market. Unfortunately, there's not a lot to choose from. In February, a total of 5,530 homes were listed in Richmond and Petersburg, a 29% drop from February 2011.

The area, which has an unemployment rate lower than the national average, has posted month-over-month sales increases since last July. "We are definitely headed in the right direction," says Laura Lafayette, CEO of the Richmond Association of Realtors.

Prices are still low, and homes in every price range — even million-dollar homes — are moving. But it's the bargain entry-level homes that are getting multiple offers, Lafayette says.

Thursday, April 5, 2012

Dealing with a Home Disaster with Less Stress

Dealing with homes

Your home is a place or safety and security, a refuge from the storms of life.  However when and if disaster does strike, you may need a little know-how to get through the process of filing an insurance claim and you will likely be surprised at the amount of time consumed with such a process.  Obviously, you will have as one of your key concerns the costs involved with the restoration of your home in regards to what your homeowner’s insurance may cover.

While this process is one you can research on your own or with the help of an adjuster from your insurance company, you may find that turning to an additional public adjuster for aid in documenting your insurance claim to be very helpful. A public adjuster works independently from your insurance company and can evaluate your home and damage and coverage to determine the best means of reporting your loss.

Here are some steps to follow when hiring a public adjuster:

  1. Only interview and hire an adjuster who is licensed and ask about their level of experience.
  2. Make sure you speak directly to the adjuster who will be evaluating your loss each time you call regarding your property, to lessen the risks of misunderstandings.
  3. Question the adjuster’s experience and credentials and call past client referrals and ask for details. Your adjuster should be willing and able to supply you with this information easily.
  4. Double check that the adjuster you are working with is local and will work with any contractors you want to hire, if necessary.  Ask if they will help you in calculating living expenses, if applicable, or just with damage estimation.
  5. Educate yourself.  Since public adjusters work on contingency fees ranging from 5% to 15% of the insurance proceeds, it is wise to negotiate these fees and have them defined in a signed contract.

When you have the go from the insurance company and need a company you can rely on… I recommend Deon Hahn with Advanced Restoration They t guarantee to Build you up after Property Damage. Deon has been in business for many year and know all the in and outs to help you deal with this stressful time of your life. Don’t take my word for it give him a call.

If you want to learn more, click here.

Wednesday, April 4, 2012

Ask Anna...: Tips for a Stress-Free Move: Packing checklist & more

Tips for a Stress-Free Move: Packing checklist & more

Reader Question:
"Do you have any helpful tips for moving?  I hate the last minute rush of packing where nothing is organized and unpacking is a nightmare.... I'm planning on starting to pack this week and I have a few weeks before we will be able to move, so there is lots of time to get organized and have a plan... but I'm not quite sure where to start. Any ideas on how to stay organized in the process and not go crazy on moving day?"

It is so important to have a plan when you are packing and moving.  We moved twice in one year (the same weekend in May both times!) and both times we moved everyone helping with the move commented on how organized and easy the move was!  Every time we move we are done after only a couple hours and the whole moving crew ends up sitting around eating pizza, drinking beer and hanging out.  It usually ends up being a pretty fun day!

So how do you do that?

Start packing as early as possible.  When we move I usually start packing 2-3 weeks before the moving date.  You aren't always using everything in your house and there are things you can definitely live without for a couple of weeks.

Also remember when you are packing to throw away, or donate, things that you haven't used in awhile.  There is no point in moving something you never use!  If you find something and didn't remember that you owned it you should probably just get rid of it.  Moving is the perfect time to de-clutter your home!!!

It's also important to pack like things together.  Don't mix 'n match your boxes because it will make unpacking extremely frustrating.  I hate it when I help people move and they are just throwing random stuff into boxes at the last minute.  Have a plan and label your boxes well.

Here is how I pack:

1. Start with the closets
* Bedroom closets: Start by packing all the random stuff that sits on the closet shelves.
* Linen closets: For the couple weeks leading up to your move just rewash the sheets and towels that you are currently using so that all the other linens get packed up.
* Entry closet
* Game closet

2. Under the bathroom sinks
There a few things under there that you probably use every day, so leave those out, but the rest of it can be packed up.

3. Books
Books are super easy to pack and are something you can definitely live without for a couple of weeks.  Remember to pack books in small boxes because they get heavy really quickly.

4. CDs and DVDs
These are super easy to pack and a quick thing to cross off your list!

5. Pictures and decorations
I LOVE having pictures in every room of the house but when it's moving time the walls and shelves in our house are totally naked.  These are simple things to pack and even though your house will look sad for a couple of weeks it's totally worth it in the end.

6. The garage
Pack up tools, garden stuff and whatever other random stuff that you have out in your garage.

7. Toys
When we moved last time it was the first time we'd moved having a child.  About a week before the move I picked out a few of Malea's favorite toys and books and then packed the rest.  It's amazing how kids don't really need that much to entertain themselves. :)

8. Next is the kitchen
Leave out only the things you know you will need the last week in your home and then pack up the rest.  This is where meal planning comes in handy because if you know what you are going to cook the last week in your house then you will know exactly which pots and pans you will need and which ones you won't.

Here are a few other areas to start packing up in your kitchen:

* Cooking utensils
* Cookbooks
* Spices
* Pantry
* Silverware (leave out 1 or 2 of each but pack up the rest)
* Dishes (leave out 1 or 2 of each but pack up the rest)
* Glassware (leave out 1 or 2 of each but pack up the rest)
* Platters, serving bowls

Leave out only the bare essentials.  When we moved the last time I had a "Kitchen" box that I left open on the bar and as I used something (and knew I wouldn't need it again) I'd put it in the box. 

After all of those things are packed the only things that should be left are the bare essentials plus any large artwork and your furniture, oh and your cleaning products {you have to leave those out so that you can clean the place after you move out!}.  Next put all of the boxes together in one location {like the garage} so that they are in one place ready and to be thrown into the moving van on moving day.

I promise you if you have a plan, like this one, and stick to it, your moving day will be a piece of cake.  Moving is a big deal but it doesn't have to be hard.

Good luck and happy packing!


April_Newsletter_.pdf Download this file

Tuesday, April 3, 2012

New mortgages open housing market to thousands of buyers

Utah Governor Gary Herbert and the Utah Housing Corporation announced the availability of new mortgage options to help prospective home buyers.

The HomeAgain and Score Loan programs offer down payment assistance to previous home buyers and buyers with credit scores as low as 620.

“We’re helping first-time home buyers. We’ve been doing as many of those loans last year and the year before as we did for most any of the 30 years we’ve been in existence. But a lot of the people [were] just simply shut out of that market because they don’t have that down payment,” said Grant Whitaker of the Utah Housing Corporation.

Read more about the Utah Housing Corporation loans in this press release:

New mortgages open housing market to thousands of buyers

Just when we thought housing couldn’t get more affordable, Utah Housing Corporation is launching new mortgage options to help buyers who need down payment assistance and/or have credit scores of 620 or more, even if they have owned a home before.

The Utah Housing Corporation HomeAgain Loans and Score Loans open up the possibility of home ownership for many Utahns who were shut out of the market during the Great Recession.

The new loans also dramatically expand Utah Housing Corporation’s mission.  Since its establishment in 1975, Utah Housing has provided mortgages for first-time homebuyers with low or moderate incomes.   Now, Utah’s trusted community partner is expanding its target audience to include previous home owners.   Utah Housing is one of the first housing finance agencies in the country to create paths back to home ownership for those who have owned a home before.

Governor Gary Herbert joined with Utah Housing Corporation President Grant Whitaker to announce the new mortgages in front of a Salt Lake home that is on the market.   Home shoppers, realtors, builders and mortgage lenders all gathered to celebrate.

“These new Utah Housing Corporation mortgages are critical tools in Utah’s economic recovery,” Governor Herbert said.   “Home ownership is the heart of financial stability. I am encouraged that more Utahns will now have that opportunity. This helps families and builds our economy.  We are fortunate to have one of the leading housing finance agencies in the country at the forefront of mortgage innovation.”

The HomeAgain Loan is virtually the only mortgage available for previous homebuyers to get down payment assistance.   Before the Great Recession, most buyers had cash or home equity that enabled them to move up into their second home.  Now, many people need help with their down payments to get into the market.  

The Score Loan provides down payment assistance, and is available to buyers with credit scores as low as 620.   Credit scores are based on history that helps lenders evaluate a buyer’s credit risk.

To find out more about Utah Housing Corporation down payment assistance mortgages, call 801-988-5340 or go to  Utah Housing will help home buyers find one of the one of nearly 40 mortgage lenders throughout the state that provide Utah Housing mortgages.

State housing finance agencies are among the few lenders that can still provide down payment assistance.  Utah Housing Corporation and housing finance agencies in other states have demonstrated responsible stewardship of their mortgages.  The loan approval process is thorough and loans are serviced locally by Utah Housing Corporation throughout the life of the loan. Borrowers can communicate directly with local customer service agents.  The result is low default rates compared to state and national averages.

When combined with historically low interest rates and house prices, the Utah Housing Corporation HomeAgain and Score loans are expected to draw thousands of buyers back into the market and take Utah’s economic recovery another big step forward.

About Utah Housing Corporation

Utah Housing Corporation is the state’s leader in creating affordable housing solutions. The Utah Legislature established it in 1975 as an independent public corporation of the state.  No tax dollars are used.  More than 65,000 Utah families have purchased homes with Utah Housing Corporation mortgages.

Pending Home Sales Ease in February but Solidly Higher Than a Year Ago

Under contract sales are down in the month of February but still higher then last year....I think this is because of the number of homes for sale on the market ….this falls back to inventory.

Listing confidence is what is holding us back, we need that confidence! This effects all of us, currently in the market we  have first time home buyers looking for properties...first time home buyers purchasing the homes that allow the families who have out grown their property  to move to the next level...which in return allows the couples who kids have  grown and now their home is to big to moving into there retirement home and allow them to travel and enjoy their life's and grandkids.

So do you see the importance of getting your home on the market giving you this opportunity to move either up or down depending where you are in your life's.

Washington, March 26, 2012

Pending home sales were down slightly in February but remain notably above the pattern in the first half of last year, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, eased 0.5 percent to 96.5 in February from 97.0 in January but is 9.2 percent above February 2011 when it was 88.4. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, said we’re seeing the continuation of an uneven but higher sales pattern. “The spring home buying season looks bright because of an elevated level of contract offers so far this year,” he said. “If activity is sustained near present levels, existing-home sales will see their best performance in five years. Based on all of the factors in the current market, that’s what we’re expecting with sales rising 7 to 10 percent in 2012.”

The PHSI in the Northeast slipped 0.6 percent to 77.7 in February but is 18.4 percent above a year ago. In the Midwest the index jumped 6.5 percent to 93.8 and is 19.0 percent higher than February 2011. Pending home sales in the South fell 3.0 percent to an index of 105.8 in February but are 7.8 percent above a year ago. In the West the index declined 2.6 percent in February to 99.3 and is 1.8 percent below February 2011.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.


# # #

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

NOTE: Existing-home sales for March will be reported April 19 and the next Pending Home Sales Index will be released April 26. The Investment and Vacation Home Buyers Survey, covering transactions in 2011, is scheduled for March 29; all release times are 10:00 a.m. EDT.

Information about NAR is available at This and other news releases are posted in the News Media section. Statistical data in this release, other tables and surveys also may be found by clicking on Research.

Monday, April 2, 2012

What To Expect From Closing Costs

This is some great information regarding closing cost. These cost are sometime over looked and can make or brake a deal.

The average price for closing cost are 3.5% to 4% of the purchase price. As a home buyers you should expect somewhere around 7% in order to purchase your new home - 3.5% down payment and 3.5% to 4% for closing cost, closing costs can be paid for by the seller if negoicated in the offer.

This is one reason it is important to have an Agent looking out for you needs and MONEY

What To Expect From Closing Costs
What to Expect From Closing Costs

Sellers often pay most if not all closing costs for VA borrowers.

First-time homebuyers are often shocked when they discover that the list price isn’t exactly what a new home will end up costing.

Securing a home loan comes at a price beyond the loan amount. That price comes in the form of closing costs, which are fees and charges you pay in order to obtain a purchase or refinance loan.

But what exactly are closing costs and how will they affect your purchase?



What Are Closing Costs?
There are a host of types, including fees to the lender, a title company, an appraiser, a pest inspector and others.

But borrowers also have to worry about prepaid costs, which are up-front payments for things like homeowners insurance, property taxes and homeowner association dues. Together, closing costs and prepaid costs can add up to more than 5 percent of the loan amount.

Your closing costs can vary from your neighbor’s depending on a number of factors, but these often include things like:

  • Title Policies
  • Origination and underwriting fees
  • Notary Fees 
  • Attorney Fees
  • Recording Fees
  • Transfer Taxes (City, County & State)
  • Appraisal Costs

Who Pays Closing Costs?
Closing costs cannot be financed into your loan. They have to be covered at the closing table.

Now it’s time for a deep breath and some good news: Veterans typically pay only a fraction of those costs. This is one of the most dynamic aspects of a VA loan. Sellers can pay most or all of the buyer’s closing costs and prepaid items.

But just as the VA caps what a veteran can pay in closing costs, so, too, does the agency cap what a seller can pay for a borrower. Sellers can pay no more than 6 percent of the loan value in closing costs and concessions. The positive side is that this 6 percent limit is generally more than enough to cover the fees.

You may be asking yourself why anyone would want to pay thousands of dollars in closing costs when they aren’t obligated to and the simple answer is because they want to sell their home. Current conditions truly make for a buyers’ market so don’t be afraid to ask the seller to cover these costs.

If the seller is unwilling to cover your fees but you don’t have the cash on hand, consider increasing your offer by the cost of closing costs so the seller can cover it automatically, provided that works with your preapproval amount and ultimately the home appraisal.

Hopefully this rundown helps demystify closing costs and explains some of the different options you have for covering them without breaking your budget.

Sunday, April 1, 2012

This goes out to my oldest son I love you