Just a quick update on the Housing markets, a rise in new construction just slightly. Again you have heard me complain how they determine new construction for an indication on the housing market, but whatever.
This does not surprise me that construction saw a jump this last month. It also doesn’t surprise me that building permits are down right now, logically we are entering the holiday season. Historically speaking this happens every year. So this is not out of the norm. I think we are going to continue to see a slight slump through the holiday season, and we will see a jump come the second or third week of January 2010.
Through this whole mess, I have found the whole CityCenter las Vegas a very interesting story. Since it is the example around the world that explains the fall of the Real Estate market. I have always thought, it will be interesting to see how they come out of this.
Just a quick follow up post to the one last week about Garbett Homes, there is a model home available that has all bells and whistles that a model usually carries. Let us know if interested. Thanks!
Remarks: MODEL HOME, finishes were professionally designed. Loaded with custom features. Located at the exciting new community of Highbury at lake park; lakes, walking paths, golf courses, restaurants. NEW HOME, QUALIFIES FOR THE $4,000 STATE GRANT.
Information deemed reliable but not guaranteed. Buyer to verify all information.
I will be here this Sat. Night anxious as ever. This is the new Warren Miller Ski movie. Should be incredible, this is a great way to get ready for the incredible ski season I know we are going to have. I hope to see you all up on the slopes. The movie is playing at Abravenal Hall in Salt Lake City, UTAH>>
Now, even though I am posting this article, I don’t really agree with everything in here. However, I do agree with some of their tips in getting prepared for buying a home. I will give my top recommendations as to what you should be doing in order to capitalize on this down market.
1- Obtain Professional advice, get a good Real Estate Agent who knows your local market, REO’s as well. Give them your specifications as to what you are looking for, make sure you talk value.
2- Get a GREAT Loan officer. Just like real estate agents ( and I can say that because I am one), loan officers are a dime a dozen. However if you find a good one, they will make your life so much easier. Often times they will be the one’s to advise you on repairing credit, the punch list items you should be doing in order to actually be qualified to buy a home. I think before you waste any other thought on the idea of buying a home you need to talk to both a good Real Estate Agent, and a good Loan Officer. It is all about production, so simply ask how many transactions they do in a year. That will tell you weather or not they are true professionals.
3- Go off of Stats, true numbers. You can break everything down to the cold hard facts. If you want a deal make sure your professionals are showing you the real numbers. If in doubt run like hell…
4- Now this one is for me, just because your parents bought a home 25 years ago does not make them a master of Real Estate. Get some real advise. Let your parents lecture you over dinner. Leave it there, it will only confuse you. Bring an older brother sister, friend, someone who has actually gone through the process recently. They will be much more of a help than a parent who went through something like this back in the 70′s! Needless to say things have changed since then…
5- Relax, if it doesn’t feel right follow your instinct. I tell all my clients, you have to do what makes sense for you. Follow your gut. It usually is right for you..
Ok, everyone. The last deal I put on here was under contract in a matter of 24 hours with multiple offers. People are not waiting anymore. Today the DOW crossed 10,000. Interest Rates, jumped about .25 of a %. All of that has happened in the last 72 hours. So if you think I am full of it, check the facts. We are not out of this mess, however a deal is a deal. And they will move fast now.
So here is another one for all those Real Estate Deal Hunters. Check the specifics of the house, and location. You can’t beat it for the money.. So if you are interested, don’t wait call me asap.. Spencer Janke
Hi everyone, so I have a good friend who works for Garbett Homes and they have at least three projects from Davis to Salt Lake County that I know about and ALL of them are selling. Garbett is known for its high quality and happy homeowners. Everyone I know of who has purchased one of these (my sister and brother in law live in one) is happy with their buy. Affordable, nice, and new. These projects qualify for the new $4,000 Home Run Grant and if you’re a first time homebuyer you get the $8,000 tax credit. I’m not that good at math, but I think that’s $12,000 CASH savings for you if you buy one. This one shown below is one of the last ones available at the project called Arbor Square in West Valley. They also have one at the District and Daybreak in South Jordan and another in Farmington. Please call me if you want more info about these townhomes and I’ll get you all the information you need. Thanks and have a good one!
Remarks: Home qualifies for the $6K Home Run Grant & the $8K Fed.Tax credit! Along with $5K in closing cost & 1st year HOA paid if financing through Garbett Mortgage!Upgraded w/Granite in Kitchen!Stainless Steel appl pckg.Tile in entry,Kitchen&dinnng.
Information deemed reliable but not guaranteed. Buyer to verify all information.
So apparently they were serious about these time frames. So if you are in the market to buy a home, you better act sooner than later. You could potentially miss out on some free money that could be of benefit to you..
Let me know if you have any questions about some of these home buying incentives..
This is an example of affordable housing in the Salt Lake Valley Real Estate market at its best. Check this house out, almost 3600 sq. ft. .34 acres and it is only priced at $244,900. Now if I go off of the golden rule of $100 a sq. ft. to be a judge on where this lands in the realm of a deal, I would say $68 a sq. ft. would qualify as a smart buy. I can’t tell you how many people we are having approach us on a weekly basis asking for a deal. Well here it is.. And make no mistake, they are selling quickly. It is going to be a sad day when people realize that the affordable housing market is not going get any better than it is right now, again the opinion of this blog narrator (Spencer Janke):) by all means send complaints directly to me if you would like.. This is a great buy, so if you are interested in a good deal call me and we can check it out..
Now the upper priced realm of Salt Lake, I can for sure see that coming down a lot more. I don’t think we have seen the bottom of the jumbo market in UTAH. Real Estate in Salt Lake City UTAH will see another drop in the $500,000 and Up range in the near few months I believe. I mean come on we are on the verge of winter. Its bound to happen.
You know in all of this blah blah blah, world is falling hooplah.. Finally someone is pointing out historical fact. You know through this whole thing, I get told I am an optimist, because I am a real estate agent. And therefore want the market to do better so I will make money. Now this is a really selfish thing to say, in my own defense I would point out history as the only true educator in this case.
Bottom line, overtime your homes value will come back. Sure it may be in 10 years, but sooner or later it will happen. So in the meantime, go grab some dinner enjoy yourself and feel comforted with the fact 16 million other Americans are in your same situation..
