We have found a bank that offers a great new Conforming Home improvement loan. It only requries one appraisal, allows the borrower to use the “After Improvements” value and borrow up to $417,000 for improvements.
1- Up to 95% LTV for home improvements
2- Cash out to $417,000 loan amounts
3- After improvement value utilized
So in plain English what does this mean. A lot of you are interested in fixer uppers that just need to much work for you to bite off. This is a new Home improvement loan. So basically you can get one loan and build the costs to repair the home into your loan. For example: we find you a REO property for $200,000. Comps support a value of $250,000 if it was fully remodeled. You think you can do the remodel job for about $35,000. So we get an appraisal based on if the repairs have been made. The bank will loan up to 95% of that value. They will escrow the cash so you can make the repairs. You end up with one loan at a good interest rate. Problem solved, you can now look at fixer uppers. Now obviously this is a case by case basis. So give us a call if you have any questions..
SANDY, Utah (AP) — Sandy is offering $5,000 grants for the purchase of a new home to those who stay in their home for three straight years.
Sandy plans to award 10 loans for new, existing, never-occupied homes and another 10 loans for construction of new homes in Sandy subdivisions.
The cash has to be used at closing for a down payment, closing costs or a principal reduction in purchase price. The home cannot cost more than $305,000. Applicants also have to make below a certain income — $44,080 for an individual and up to $87,406 for a family of eight.
This is great. I love it when I see a local City take control and try to help us pull out of this mess. I hope other city’s take notice and follow suit. This will for sure at least give them more tax dollars…:)
Let me know if any of you have questions regarding this..
So I woke up this morning, looking for something that would make me laugh.. This will do if for you.
These are the guys running our country!
I really just couldn’t believe it when I first heard this report. So I could expound on this whole debacle, or I can just sit back and laugh as they bury their heads in the sand, and try to salvage their careers before re-election… 
You have to love this kind of stuff.
I know it is all opinion.. However, it seems inventory in in Salt Lake City is on the decline. Now this could be attributed to several factors.
1- People are lowering price to current Market Values
2- Homes are being withdrawn from the market.
3- Buyers are realizing the end of the world is not here Ha Ha
Interesting article to read
http://www.cnbc.com//id/32359994
In a time of un knows, there are a few points we can be assured of. And that is what goes up, must come down. But at the same time what goes down eventually must level off? I know I am the optimistic Real Estate guy. However life must go on, I am not telling everyone to go out and buy a home right now, but I think you all should take into consideration current pricing, with current interest rates to make the best decision possible.
Something interesting for the locals..
Another Forbes Article saying how wonderful UTAH Real Estate is..
It today’s financial mess, statistics mean almost as much as what our politicians are saying.. You need to pay attention to the facts. So lets look at Utah. Obviously I am more optimistic about my wonderful State than others..
UTAH’s Benefits.
1- Immigration
2- Unemployment as of July 5.4 % Compared to 9.4% nationally
3- Education base
4- Continue rise of business coming to Utah.
5- Hello our Mountains!
These are things that people need to pay attention to. We are not Las Vegas, Phoenix, or California. We have the above things going for us..
In a time where we all could use a little good news, the new Job report shows a slowing of job loss throughout the country. In all of the articles I have read, indicators seem to think we are on a slowing trend and may be near the plateau soon? Other analysts (including the White House) are warning, most likely we will hit the dreaded 10% unemployment nationally before we start seeing a rebound. FYI, we are at 9.4% unemployment as of this morning.
My interpretation: this is good news, I do think we are starting to see the bottom of all bad news. Not to say we are still in for a rocky road, maybe this is the breath of air we were looking for.
The next subject I would like to approach is the Mortgage mess. We are still neck deep in this world of hurt. I keep waiting and I know it is coming, with every article I read, every day that goes by. It is being solidified that we have to raise interest rates to combat the mess we are going to be in from inflation and all of this outragous spending. Big article this morning explaining how much trouble Fannie and Freddie are in, huge 2 quarter losses. Which is interesting as they are the only two players buying mortgage backed securities on the secondary market, and from what I am seeing they are being pretty selective as to what they are buying. Which in turn puts basically a credit freeze on the average consumer. I know all you skeptics out there are throwing a fit as you read this, however what is the solution? Fannie and Freddie are already screwed, the bad reports are still from all of the toxic assets they have had for the last several years. None of those are from recently aquired notes? If I am wrong please correct me? The problem at hand is, if we don’t solve this credit freeze and figure out a way for the good qualified consumer to purchase a home, car, groceries anything. We will not pull out of this mess. I love all of the comments people put on the blog when I post something like this, think about it. Everyone says its not the bottom, don’t buy! But what will continue to happen if this is the mentality of society as a whole? The only way to pull out is to restore confidence in the financial sector as a whole. The stock market, retirement accounts, Real Estate, you name it. When people don’t spend, money freezes up. Growth is impossible! Here is an interesting article about the whole Mortgage mess with fannie and Freddie, check it out and let me know what you think..
http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html;_ylt=AhNunw9a.HanyTEvoi2PuVy7YWsA;_ylu=X3oDMTE2YXJwODE1BHBvcwMxMARzZWMDdG9wU3RvcmllcwRzbGsDZmFubmllbWFlc2Vl?x=0&sec=topStories&pos=8&asset=&ccode=
Hey everyone, I am offering our home in St. George once again at our friends and family discount. We are entering into the Fall months, and this is the best time to get down there, play some golf, hike Zion’s..
The home is on the 14th hole of Coral Canyon Golf Course, you will love it. 3 beds 2 full baths. It will sleep 6 adults in beds, and a blow up mattress on the floor for another two if you would like.
I am offering the home for $125 a night, can’t be beat.. Let me know if you want to reserve your date.
Spencer Janke 801-671-7877, spencer@utahcribs.com
http://coralcanyon.wordpress.com/
I know a lot of you like to see real facts. Not the manipulated numbers people come up with to support their business’s.. So in the spirit of true honesty, here are the latest Real Estate numbers compared to last year. I found it interesting, as I already knew the outcome, as we have seen an uptick in under-contracts and activity on all of our listings. Comments anyone?
Top Zip Codes
| Zip |
City |
Price |
|
Change |
| 84653 |
Salem |
$260,000 |
 |
26.8% |
| 84003 |
American Fork |
$340,000 |
|
24.9% |
| 84405 |
Riverdale/Ogden |
$185,500 |
|
14.2% |
| 84124 |
Holladay |
$397,500 |
|
12.8% |
84013
Bottom Zip Codes
| Zip |
City |
Price |
|
Change |
| 84071 |
Rush Valley |
$44,000 |
 |
-72.2% |
| 84117 |
Holladay |
$287,500 |
|
-28.8% |
| 84093 |
Sandy |
$282,500 |
|
-22.0% |
| 84043 |
Lehi |
$237,000 |
|
-19.9% |
| 84655 |
Santaquin |
$189,900 |
|
-18.3% |
|
|
|
|
|
