Thursday, November 10, 2011

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

Nothing_but_air
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.

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

Davis_
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!!

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Wednesday, November 9, 2011

Buy Michael Jackson's Final House and All Its Glitzy Contents - On the Market - Curbed National

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Buy Michael Jackson's Final House and All Its Glitzy Contents

Wednesday, November 9, 2011, by Sarah Firshein

The Beverly Hills, Calif., estate that Michael Jackson rented at the end of his life is on the market, and many of its fancy-pants things will be auctioned on Dec. 18, including tons of fine art, some worth as much as $30K, an armoire estimated at $6K, a bunch of Louis-style antiques, upholstered seating, and, reports AOL Real Estate, the very bed where Jackson died in 2009 under no-longer-sketchy conditions. The 17,000-square-foot French chateau-inspired manse was designed in the early aughts by architect Richard Landry; it has six bedrooms, a wine cellar and tasting room, a movie theater with velvet-clad loveseats, a pool and spa, and a guest house with another bedroom. The home is owned by Ed Hardy CEO Hubert Guez, who tried unsuccessfully to unload the manse after Jackson's death, later blaming its failure to sell on the random woman capitalizing on the fame by peddling celebrity maps outside. At the time, Guez said, "Potential buyers are bothered upon approach by the quite visible and annoying constant illegal stopping and/or parking of cars in front of the home on what otherwise would be a quiet residential street." Consider yourself warned, map-seller Linda Welton. The active listing hasn't hit Redfin yet but Movoto currently has it asking $23.5M.

· One Hundred North Carolwood Drive [Julien's]
· Michael Jackson's Former Home—and Belongs—Up for Sale [AOL Real Estate]
· 100 N Carolwood Drive, Los Angeles, Calif. [Movoto]
· Michael Jackson Death House Owners Sue Holmby Hills Star Map-Seller [Curbed LA]

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28.6 percent of homeowners nationwide owe more than their home is worth, report says | Deseret News

SALT LAKE CITY — A new report shows that 28.6 percent of homeowners owe more on their mortgages than their homes could sell for. That's nearly three out of every 10, nationwide.

The quarterly report from the real estate Zillow indicates the 28.6 percent is worse than the second quarter number, which was 26.8 percent, and about the same as the first quarter number of 28.4 percent.

Dave Anderton, a spokesman for the Salt Lake Board of Realtors, said last month roughly two in 10 people in Utah are underwater in their mortgages.

In this May 9, 2008 file photo, a foreclosure sign stands outside an existing home on the market in Denver. A new report shows that 28.6 percent of homeowners owe more on their mortgages than their homes could sell for.

Associated Press
In this May 9, 2008 file photo, a foreclosure sign stands outside an existing home on the market in Denver. A new report shows that 28.6 percent of homeowners owe more on their mortgages than their homes could sell for.

"About 20 percent of Utahns are in a negative equity position, we call it, or owe more on their mortgage than what their home is worth or what someone is willing to pay for it," he said.

Home prices, which have been declining for four years after peaking in 2007, are a factor. Nationally, Zillow says home prices dipped 0.2 percent from second quarter to third quarter this year. Year-over-year, though, home prices have dropped 4.4 percent.

Of the 157 metropolitan areas covered in the Zillow Real Estate Market Report, 105 showed quarterly home value depreciation and 26 metro areas saw quarterly home values go up, and the remaining 26 metros saw no change.

"In (Salt Lake) County, home prices are still falling," Anderton said. "We're just hoping we see an end to the falling prices, especially for homeowners."

Zillow chief economist Stan Humphries predicts home values will go down another 3-5 percent before reaching bottom in 2012 at the earliest. He thinks the foreclosure market will remain "robust" for the next two to four years.

Experts say another reason the number of underwater homeowners appears to have increased from 2008 and 2009 is a change in how long the foreclosure sale process takes. The "robo-signing" scandal surfaced in 2010 when people were signing off on foreclosure paperwork in large numbers without properly reviewing the files.

That has changed, but experts say as a result there are added delays to foreclosure sales. That has boosted the number into the 26-28 percent range, instead of the 21-23 percent range prior to 2010.

Elsewhere around the nation, Zillow says more than 66 percent of homeowners in Phoenix are underwater in their mortgages. In Atlanta the rate is 58.7 percent and in Riverside, Calif., the rate is 51.4 percent.

via deseretnews.com

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