Have you been surfing the web looking for the perfect house to make a home for you? I bet you have been looking for several weeks now and if you’re like me when I bought my first home you may feel that you don’t know where to start.  

When my husband and I bought our first home I felt like a deer in the headlights.  All I knew was how much we qualified for and generally what I wanted in a new home.

Not ONE of the real estate agents we talked to sat down with us and explained the importance of a CMA, market statistics, home inspections, closing costs, negotiating the offer or anything!

Now that I am a Realtor and know these things, I realize the importance of educating my clients of these and other very important things.  Buying a home is a huge investment and I don’t want anyone looking back (as I do now) and wishing they had someone on their side!

Here are my top 5 reasons why you need a great agent looking out for your best interests!

1. I can recommend great financing options that will help you with your purchasing goals.  (Low to zero down, no MI etc.)  Working with proven lenders really can be the difference between moving into your new home vs. not even closing on the loan.
    
2. I can educate you on the process of buying a home and what it really takes to jump into this rapidly changing market.
    
3. I can provide price counseling via a CMA to give you power to make an educated offer on the home.
    
4. I can negotiate on your behalf, working hard to get you the lowest price and best incentives (i.e. home warranty, seller paid closing costs, etc.)
    
5. I will help you reach your home buying goals and what’s best for your situation.

According to the Salt Lake Board of Realtors, here are top 5 best selling cities:  (Info taken from fourth quarter of 2011.)

1.  Kearns/Taylorsville
2.  Lehi
3.  South Jordan
4.  Farr West
5.  Clearfield.

Over this time last year prices have dropped 10% and sales have increased by 18%!

BOTTOM LINE:  It's a great time to buy a home!

Short sales ARE nightmares! That is my mantra for the last 2 years…but today I have a successful story to share!

Two years ago I listed and started a short sale for a single mom, who needed help selling a home that she owed more on that it was worth. This home was, and still is gorgeous! Located in The Bluffs town homes in South Jordan, it had so much to offer! Designer Italian interior paint, vaulted ceilings, granite counters, knotty alder cabinets, stainless steel appliances too! It has 3 bedrooms, 2 and half bathrooms, a huge master bath with separate garden tub and shower and a full unfinished basement and a 2 car garage!  It had so much to offer then and even more now!  We started selling this home two years ago!  We have had 8 offers, and buyers have made offers from $189,000 to its current asking price of $154,000…all those buyers waited in vain hoping to get this home. However, all the previous buyers gave up and finally moved on to another home.  After the last buyer gave up and failed us…I got it back on the market and we currently have 5 offers on this home and had to ask for highest and best.

During this time I received a call from an investor named Devin who saw it and decided to make an offer and put down $2000 Earnest money and allow it to become non refundable if he cancels or quits before the bank responds, for up to 6 months.  This is going to help and we hope this is the successful  buyer that gets the PRIZE!

The rest of the story is that on the night we first showed him this home, I also showed him two others that were available in The Bluffs complex.  We found out that one of those homes was threatening to go to foreclosure in just 4 days!  The investor decided to make an offer, and the long story short is that…he got an incredible deal on an amazing investment and it has the potential of closing in just a few short weeks!  If he is successful with the first offer as well, he will have two amazing homes in a great complex and be well on his way of securing some truly smart and savvy investments for his investment portfolio.

That is what makes this market so fascinating and challenging.  There are stories of success, stories of tears and anguish, stories of frustration and stories of utter and horrible failures!  They all make up this current crazy Real Estate market.  You really do need a professional and experienced Real Estate Professional to help you navigate through these treacherous waters!  Who do you know that is thinking of investing in Real Estate?

The Basics:

Property taxes are assessed on a calendar year.  Assessed value is as of the first day of the year for that year's taxes.  Property taxes must be paid to the county treasurer on or before November 30.  A penalty of 2% of the property taxes is assessed if the taxes are received after November 30.  If property taxes are not paid by the January 15, interest is then assessed retroactive to January 1.

The Problem:

Even though the assessment reflects the value as of January 1, the assessment is not officially determined until late September or early October.  Prorations for most of the year are based on the prior year's taxes.  Values can drastically change from year to year due to:  1) Reappraisal of the property by the county assessor. 2) Change in the property. 3) Change in the tax rate by either state or laical government.  Current property taxes need to be addressed and delinquent taxes paid or placed in escrow prior to recording.

The Solution:

Most mortgage and title companies have the buyer and seller sign a property tax prorations disclaimer specifying that if the property taxes change drastically from the prior year's assessment, the buyer and seller will re-prorate the taxes themselves.  If the property has experienced a drastic change and the last years taxes are not applicable, let the title company know as soon as possible.  If the closing occurs between the time of the final assessment and November 30, the actual amount is used and often paid directly to the county by the title company.

Let me know if you have any additional questions!

One important piece of the puzzle that I helped them with was introducing them to a 203K loan.  This loan allowed them to borrow some additional money that can be used to fix up the home. This turned out to be exactly what they did! They found a Fannie Mae bank owned home in a really good neighborhood in West Jordan that needed quite a bit of work. They hired a general contractor to oversee all the details and then they got to pick out new cabinets and appliances and colors of paint, and even flooring, just like in a new home! They also put in a lot of their own hard work to fix it up, painting the exterior and the little white picket fence around the front!

It’s hard to believe from the before and after pictures that this is the same home!

Kichen Before

Kitchen After

Bedroom Before

Bedroom After

Entry Before

Entry After

Amy and Aaron are so happy that they moved forward and decided it was time to buy their first home! Who do you know that might want to buy a new home?  Give me a call right away!

Diane Keaton makes use of colorful tiles in her unique kitchen. Image: Architectural Digest

If you’re a celebrity gawker and a kitchen fanatic (and who’s not one or the other?), then take a gander at Architectural Digest’s new kitchens-of-the-stars slideshow.

Here's Some Favorite Features:

• -Hank Azaria’s island made from salvaged wood in his Bel Air kitchen.
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• -Carole King’s geothermal ranch kitchen in Idaho.
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• -Cher’s Los Angeles duplex kitchen with carved screens over cabinets.
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• -The wild colors in Diane Keaton’s Bel Air kitchen.
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What’s your favorite celeb kitchen? What star features would you put in your kitchen?

 http://www.houselogic.com/blog/kitchens/celebrity-kitchens-pictures/#ixzz1lHL4bcLy

These days much of the shopping for homes, like many items, is done online. That means that images (both photos and video) are rapidly becoming popular marketing tools to entice potential buyers.

The adage is, a photo is with a thousand words and, I add, a video is priceless. Actually, though, both are worth a whole lot. In fact, they could be worth the price of your home because images sell.

Think about the commercial market. Ads on TV and in print are always selling a concept about how consumers will feel, look, and benefit from buying a particular product. When it comes to selling a home, however, some sellers aren't as concerned with how their home is pictured and that can cause the home to stay on the market longer or, worse, generate little or no interest.

With the Internet filled with a sea of homes and sellers everywhere vying for attention from buyers, it only makes sense to make the online photos scream, "I am a must-see home. I won't last long in this market."

I hire a professional photographer, trained to shoot homes, for the marketing of your home.  Are you thinking about selling?  If so, just give me a call, I’d love to help out!

Live real estate auctions are exciting and fast paced events, but they can be intimidating if you don’t know what to expect or haven’t done your homework before the auction. There are a few things you can do before the auction that will ensure a smooth experience.

Hire a Knowledgeable Real Estate Agent Having an experience real estate agent will give you the edge at the auction and help you strategically win the property at the best price. 

View the Property Most properties sold during a real estate auction are sold “as-is” which means viewing the property before the auction is very important. With this type of sale, what you see is what you get.  Ask the agent for any additional information on the property, look around the neighborhood, talk to adjacent property owners and local businesses. Determine the short and long term potential of the property and decide what the property is worth to you. Having a price range in mind when you attend the auction will help you know when and what to bid.

Research the Auction Requirements Read the terms and conditions of the auction you will be attending carefully. This information can be found in the auction brochure and along with the detailed information about each auction on the website. There are details in the terms and conditions that can affect your purchase, so make sure you know the requirements especially with regard to bidder eligibility, financing, bid deposits, closing deadlines, purchase and sale agreement provisions, and funds required to bid at the auction.

Secure Financing While there is no requirement that you secure financing before attending an auction, it will help you to know in advance what you can afford to bid. It will also ensure financing trouble doesn’t force your deal to fall through. If you can not secure financing on the property and close escrow within 30 - 45 days of the auction your down payment will be lost.  Most auctions require $5000 down at a minimum.  Also financing a home won at an auction is sometimes not an option.  Some auctions require winning bids be paid in cash at the end of the sale.

Register at the Auction Sometimes you can pre-register and other times registration is at the door.  Talk to your agent in helping with the registration process.

What to Bring

• Your short list of homes you’re interested in
• Picture I.D. (valid, government issued)
• Certified Funds required (see auction terms and conditions)
• Proof of Funds to close
• If using cash, your bank statement
• If obtaining financing, a loan commitment document
• Articles of incorporation, trust documentation, or other proof of signing authority (for those taking title in a company name or trust only)

If you are bidding on behalf of someone else, you will additionally need his or her full name, address, and a notarized power of attorney authorizing you to bid and execute documents on behalf of the actual purchaser.

At the Auction

• Check the website before you go, properties can be sold prior to the auction so make sure the property you are interested in is still available
• Arrive early to ensure you get a seat
• Pick up your registration packet at the registration table
• Review Auction Updates; i.e. Removals or Late Additions
• Introduce yourself to the bid assistant working in the section where you are sitting - their job is to assist you during the auction.

What to Expect During the registration process you will be given a bidder card with your registration number printed on it. This card identifies you as an eligible buyer - so don't lose it! Before the auction the auctioneer will make announcements. This is how the auctioneer corrects, updates, adds, or deletes properties from the brochure before the bidding starts or relays any important information, so listen carefully.

The action moves fast at a live auction but don’t worry, the bid assistant who is working in the section where you sit is there to help. Before the auction let your bid assistant know which property(s) you're interested in. When that property comes up for auction, the assistant will look to you for bids. Each time a bid is recognized from another person you must decide whether or not to continue bidding. If your answer is yes, hold your bidder card or your hand in the air. Do not hesitate to call out to the bid assistant or to the auctioneer if you don't think they have noticed you. Make your decisions obvious.

If you have further questions about how the process works please give me a call if you have any additional questions at 801-652-8600.

Hot Bank Owned Property of the Week

Price: $149,900

Per Foot: $74

Murray

Built in 2007

1 Car Garage

2022 Square Feet

3 Beds

3 Baths

Call right away to see this great deal!

Here’s a quick note to let you know how I can help you or anyone you feel comfortable introducing me to.

This January, many people will wonder if this is the year they will buy their first home.  Well, as far as January's go, this could be the best one ever for purchasing a home.  Home inventory is trending high while mortgage rates are surprisingly low.  I am pleased to offer a free report, How to Buy a House with Little (or No) Money Down, that will educate first-time home buyers about the home buying process.

The next time you’re in a conversation with a friend, family member or neighbor and they start talking about buying their first home, would you stop, take out your cell phone, look up my number 801-652-8600) and call me immediately?  I’ll send you my free report so you can give it to them.

Let’s make 2012 GREAT!

"This year's Remodeling Cost vs. Value Report shows the value of putting your home's best façade forward, so to speak," said National Association of REALTORS® President Moe Veissi. "Inexpensive exterior replacement projects are not only crucial to a home's regular upkeep, but are also expected to recoup close to 70 percent of costs. Specific exterior projects such as siding, window and door replacements are part of regular home maintenance, so many homeowners are already undertaking them. These projects also do not require expensive materials and they have the added bonus of instantly adding curb appeal."

HouseLogic.com, NAR's consumer Web site, includes dozens of remodeling projects, from kitchens and baths to siding replacements, which indicate the recouped value of the project based on a national average. According to the Cost vs. Value, seven of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects. REALTORS® judged an upscale fiber-cement siding replacement as the project expected to return the most money, with an estimated 78 percent of costs recouped upon resale.

Two additional siding replacement projects were in the top 10, including foam-backed vinyl siding, expected to return 69.6 percent of costs, and upscale vinyl siding, expected to recoup 69.5 percent of costs. Three door replacements were also among the top exterior replacement projects. The steel entry door replacement is the least expensive project in the report, costing little more than $1,200 on average and expected to recoup 73 percent of costs.

The upscale garage door replacement jumped seven spots to number six this year, primarily due to the average cost of the project declining more than 15 percent nationally. The upscale and midrange garage door replacement projects are expected to return more than 71 percent of costs. One window replacement project - upscale vinyl - rounded out the last exterior replacement project in the top 10, expected to recoup 69.1 percent of costs.

The 2011-12 Remodeling Cost vs. Value Report compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels, and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 14th consecutive year that the report, which is produced by Remodeling magazine publisher Hanley Wood LLC, was completed in cooperation with NAR.

Housing to Be Key Factor in 2012 Election

 by Carla Hill

HouseLogic, the consumer website for the National Association of Realtors® has released the results from their latest survey. They found that when it comes to the upcoming 2012 election, jobs and housing are at the forefront of voters' minds.

Their research indicates that almost one-third of those surveyed reveal housing is the top issue. It's no wonder why. Millions of homeowners across the country are currently in foreclosure or are at risk of entering this state. Many others have experienced a dramatic loss of equity in their homes as prices shrank back to 2003 levels.

Perhaps one of the biggest issues is the large number of homeowners who are now upside down in their mortgages, meaning they owe more to the bank than their home is currently worth. What should be one of their biggest assets is now one of their biggest liabilities. Many don't have the option to sell or move if the need arises. Is there a new job being offered in the neighboring state? May homeowners may have to forgo a move in order to keep good credit and a roof over their heads.

The pent-up demand has left a considerable mark on the construction market. Millions of workers are out of jobs as builders find it difficult to obtain credit and are wary of beginning new projects. Building permits have been down across the entire country.

"We need to keep housing first on the nation's public policy agenda, because housing and home ownership issues affect all Americans," said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. "The results of this survey show that many Americans understand that."

In fact, the NAR reports that housing makes up more than 15 percent of the GDP (gross domestic product). Research has shown it is a "key driver of the national economy." It works like a snowball effect. A healthy and progressing housing market means jobs. NAR estimates for every 2 homes sold, one job is created. Homeowners also invigorate the economy in other sectors, such as retail, through decorating and upgrades. Respondents were asked in the HouseLogic survey: "What issue area will have the greatest impact on your vote in 2012?" National security, healthcare, and energy/environment trailed housing and unemployment by wide margins:

1. Jobs/unemployment – 54 percent
2. Housing – 27 percent
3. National security – 8 percent
4. Healthcare – 4 percent
5. Energy/Environment – 2 percent
6. Other – 4 percent

The NAR's other recent stats indicate the economy may be attempting a rebound. Pending home sales rose in October and unemployment rates dropped slightly for the month. Next year's voters will have a lot to say about candidate's plans for overhauling current programs, as well as plans for helping housing get back on its feet.

This home is a short sale HOWEVER, it's approved already at this price and they need a buyer.  It was built in 1977 but has an effective year of 1993.

.17 Lot

3156 Square Feet

$174,900

6 Beds

4 Baths

Call me to see this one...801-652-8600

Right now, interest rates are at historic lows and no one knows when they will begin to drift upward.  I am so excited about these rates, it would be my pleasure to bring this information to you, and anyone else you care about, so that you can be completely up to date before deciding among your options. 

It's amazing to see how an interest effects how much home you can buy!

With rates this low buyers are in a great position.

Please remember the next time you’re in a conversation with a friend, family member or neighbor and they mention that they’re baffled by projections about the mortgage or real estate market, feel free to take out your phone, look up my number (801-652-8600) and call me immediately.  We can arrange a free consultation where I’ll use the latest information to outline a clear financial strategy, including a recommendation for their very next step.

Here are six tips for negotiating the best price on a home.

1. Get prequalified for a mortgage

Getting prequalified for a mortgage proves to sellers that you’re serious about buying and capable of affording their home. That will push you to the head of the pack when sellers choose among offers; they’ll go with buyers who are a sure financial bet, not those whose financing could flop.

2. Ask questions

Ask your agent for information to help you understand the sellers’ financial position and motivation. Are they facing foreclosure or a short sale? Have they already purchased a home or relocated, which may make them eager to accept a lower price to avoid paying two mortgages? Has the home been on the market for a long time, or was it just listed? Have there been other offers? If so, why did they fall through? The more signs that sellers are eager to sell, the lower your offer can reasonably go.

3. Work back from a final price to determine your initial offer

Know in advance the most you’re willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale. 

Work with your agent to evaluate the sellers’ motivation and comparable home sales to arrive at an initial offer that engages the sellers yet keeps money in your wallet.

4. Avoid contingencies

Sellers favor offers that leave little to chance. Keep your bid free of complicated contingencies, such as making the purchase conditional on the sale of your current home. Do keep contingencies for mortgage approval, home inspection, and environmental checks typical in your area, like radon.

5. Remain unemotional

Buying a home is a business transaction, and treating it that way helps you save money. Consider any movement by the sellers, however slight, a sign of interest, and keep negotiating. Each time you make a concession, ask for one in return. If the sellers ask you to boost your price, ask them to contribute to closing costs or pay for a home warranty. If sellers won’t budge, make it clear you’re willing to walk away; they may get nervous and accept your offer.

6. Don’t let competition change your plan

Great homes and those competitively priced can draw multiple offers in any market. Don’t let competition propel you to go beyond your predetermined price or agree to concessions—such as waiving an inspection—that aren’t in your best interest.

3861 Square Foot, 2 Story Home

4 Beds, 3 Baths

Built in 2005

Great Tuscany Neighborhood!

This is a must see!

A lot of people think that listing their home during the holidays is a waste of time.  Although there are fewer buyers at this time, there are some definite benefits to getting your home on the market or keeping it there. 

I found this article on Realty Times http://realtytimes.com/rtpages/20111125_holidays.htm that highligts some compelling reasons to do so:

• Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. 

• Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.

• Relocating families often don't have a choice in when they can leave for their new destination. Although 68 percent of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either before the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.

• At Christmastime, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.

• When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.
• With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. You may find you have more showings than you would if your marketed your home during a busier time of the year.

Call me right away to get your home on the market!

801-652-8600

$110,000

4 Beds, 2 Baths

Built in 1962

.22 Acres

$100 Down (That's it AND the seller will pay your closing costs!)

Call for additional details!

801-652-8600