ATTENTION POTENTIAL SELLERS - There are frustrated buyers among us!!

Why is it so hard to find the right home now days with the interest rates so low and buyers willing to buy.

Would you believe it if I told you the inventory is down, seem almost impossible with all the local and national news stations talking about all the foreclosure happening all around us.

I have been working with multiple buyers looking for the right house and running into nothing but disappointment. The homes that are currently on the market are either way over priced due to the fall in the market and sellers not able to clear title,   short sale  which could take month to complete, or the homes are in need a major work and updating...UGGGH

One thing to remember when making on offer on a short sale not only do they take longer but they are usually in need of major repairs.  A family selling a short sale home has falling into a hardship of some kind. If is comes down to feeding your family or up keep of the home that is heading for foreclosure, they are going to chose to feed their family.

I keep hearing this to will pass.

As you can see  Weber County Utah's new listings for September are down 22% and year to date 15%

and in Davis County Utah's new listings for September are also down 24% and year today 17%

 

With this in mind now is a  great time to put your home on the market. DONT WAIT FOR SPRING!! If your home falls under the $300,000 price range and is in ready to sale condition this is your time to shine

Competition is at an all time low allowing you as a seller to get a higher price for your home, also now as we head into the colder months the buyers who are buying are serious buyers, and have to move. 

Most buyers dont like to move in the cold month and nestle down for a long winter nap. Now think about it not only do you have the most desirable home but you have a number of buyers looking.

If you have been thinking about selling and just can't decide let me tell you NOW is the time!!

DO YOU SEE THE PROBLEM....Notice before you buy your new home!!

Have you ever notice the little things when purchasing a home. It the little things that get you... the paper work...did you notice the toilet paper holder in the photos above

A home is a place of residence or refuge and comfort. It is usually a place where an individual or usually a family can rest and relax, communicate, share, feast and be able to collect and store their personal properties. Therefore it is important that when you consider a place to call your home, it must be a safe and pleasant place to be in.

ONLY IN THE MOVIES....is about all I can say when I saw this homes fanastic bathroom....and no there is not a mirror and yes that is 2 I say 2 toilets seating side by side of the tub ..Notice the differences....now that is privacy at its finest!!!

Buying a house is more often than not, the single largest investment most people ever make; yet all too often it's a decision made in rush without adequate thought and preparation. In this article we will explore some of the house-buying mistakes to watch out for in your property hunt.

Love at First Site: Buying a home should be a business decision, but sometime your emotions get in the way. Make a list just like shopping for Groesry make sure you have all the things your famiy needs such as schools, parks and most of all how you taught about sex offenders and crime in the neighborhood.

Pre-qualified and Pre-approved Financing Being pre-qualified gives you a general idea of how much you can afford to borrow and keeps you from finding the prefect home out of your price ranges. Also it always you to present a stronger offer to the seller

Over-Buying You may qualify to borrow more, but you have to ask yourself again whether you can afford it or not and still enjoy life. My son came to me and told me he could qualify for 200,000 I told him I would help him with 125,000. He found that hard to believe until I should him the payments between the two.. He purchased a home for 125,000

Resale You should avoid buying a home that costs much more than neighboring homes and think before buying the most expensive house in the area. As a first time home buyer this will not be your last home look at your purchase as any other buyer would...What bothers you will bother other buyers. Buy your home thinking that someday you may need to sale it. 

House Inspection It is well worth your money engaging a House Inspector to check out the house to make sure you are not purchasing a money pit. It will also help you understand the workings of the home when your inspector explain the home good or bad. 

Buyer’s Remorse No place is perfect. There will always be surprises. Don’t let a few initial blips spoil the whole ride. And don’t miss a great house waiting for the perfect one! Failing to jump on an opportunity with interest rate being at a 50 year low what are you waiting for. To much shopping around can backfire. When you have done your homework and when you see something  that matches your needs and like, GO FOR IT!!! 

Now is a great time for buying

Mortgage Payment about the same as 30 Years ago!?!?

Do you believe it or not? Well lets take a look back 30 years and see just what you remember....

The Year 1981

MUSIC

• Betty Davis Eyes - Kim Carnes
• Endless Love - Diana Ross / Lionel Richie
• Lady - Kenny Rogers
• (Just Like) Starting Over - John Lennon
• Jessie's Girl - Rick Springfield
  
• One That You Love - Air Supply
• Tide Is High - Blondie
• 9 to 5 - Dolly Parton
• Queen of Hearts - Juice Newton
• Kiss on My List - Hall & Oates
• Being With You - Smokey Robinson
• Celebration - Kool & the Gang
• Tainted Love - Soft Cell

TELEVISION

	The Fall Guy Starring: Lee Majors, Douglas Barr, & Heather Thomas
		The Greatest American Hero Starring: William Katt & Robert Culp
	Hill Street Blues Story of an overworked, under-staffed police precinct in an anonymous inner city patterned after Chicago. We follow the lives of many characters, from the lowly beat and traffic cops to the captain of the precinct himself.
		Falcon Crest Starring: Jane Wyman, Margaret Ladd, Susan Sullivan, Robert Foxworth, William R. Moses, Lorenzo Lamas, Abby Dalton, & Chao Li Chi     General Hospital Luke and Laura get married; the soap-opera is the highest-rated hour in daytime television history.
		TODAY 2011
		Now lets talk about real life the life that has affected all of us for the past 30 years.... Think about life with no smart phone...or even a cell phone at all. What about the Ipod how would be be able to running, exercise or take our music with us every where. What about your home could you afford a home or did you have a home on October 1981 How about the house you lived in back in October of 1981 the mortgage interest rate on average was 18.45% for a 30 year fixed rate according to Freddie Mac. Today the same mortgage rate on average is about 4% for the same loan. Even with house prices increased over the past 30 years and with the interest rates as they are today. YOUR PAYMENTS would be very close. Right now an average homebuyer purchasing a home in todays market with the 4% interest rate, would have a monthly mortgage payment of $698.00. According to Lawrence Yun Chief economist for the National Association of Realtors, in October of 1981 the monthly payment would be close to that at $598.00 THAT IS A DIFFERENCE OF $100.00 FOR THE SAME HOME In 30 years all other household cost have increased.. College Tuition up 693% Medical Care    up 410% Rent                  up 200% Gasoline           up 197% Food                 up 150% Minumum wages in 1981 $3.35 Minumum wages in 2011 $7.25 The only thing that has come down in price this the interest rates Do you see a trend here???   With todays interest rates homes are still very affordable and interest rate can take credit for that. If you look at your monthly mortgage bill, interest is a large part of your payment, higher interest rate higher payment...lower interest rate lower payments Now is the time to take advantage of these lower interest rates. If the interest rate was to go up just 1% this could effect your ablitiy to qualify for a home by $11,000, which could be the difference in being able to afford a home and not. Or if you will even beable to qualify for your new home. **The index which was registered 161 in August means the average family in Utah could qualify to purchase a new home.  Interest rate will not and can not stay this low forever now is a great time to look for that new home. Give me a call today lets talk   Lori Fleming 801-940-9560   **What Does House Price Index - HPI Mean? A broad measure of the movement of single-family house prices in the U.S. Apart from serving as an indicator of house price trends, the House Price Index (HPI) provides an analytical tool for estimating changes in the rates of mortgage defaults, prepayments and housing affordability. The HPI is published by the Federal Housing Finance Agency (FHFA) using data supplied by Fannie Mae and Freddie Mac. Read more: http://www.investopedia.com/terms/h/house-price-index-hpi.asp#ixzz1bCIT33sJ