Salt Lake City Events & Concerts | Upcoming Events in Salt Lake City, UT – Eventful.
Hey everyone, just wanted to keep everyone in the loop for concerts in Salt Lake City, UTAH. If you are looking for something fun to do, check out the following events in Salt Lake City..
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ksl.com – Plan calls for Geneva Steel site redevelopment.
This is great news, I love hearing things like this during these negative times of the market. Real Estate in Utah is still moving and changing. This is a 40 year project. And it will enhance all of Utah County.. This is great News for People that live in that part of Utah. Utah County should be thrilled, this will clean up the lake and make it a better destination. About time someone take some initiative and figure some things out.
Home Repossessions Hit New Record High – Yahoo! News.
Well I think we are going to keep seeing these types of articles over the next several months. We are not out of the woods yet my friends. Foreclosures are still on the rise, the Real Estate industry is still seeing the effects of the down turn. It is going to take the next 18 months for us to weed through the mess and carnage of the downturn. And Utah Real Estates is no different. Here in Salt Lake City, we are seeing Short Sales finally getting approved and many of them are closing.. Great News? Yes it is, however many of them are finally going into foreclosure. The banks have wasted so much time, and therefore are forced to foreclose. Many of these properties are so dilapitated by this point, the prices keep going down. When are the banks going to figure this out. I know this because I have done, 20 short sales for clients over the last 12 months..
Hold on we are not done yet..
Private Retreat nestled between two world class ski resorts. Property boasts 22 Acres with River Frontage. Private 2.5 acre lake with 5-10 lb Rainbow Trout & KOI Fish, Also a 1/4 acre spawning pond. Approximately 5+ Acres professionally landscaped with 3 large waterfalls. An Equestrians dram with Barns, Stalls & Fully fenced corrals. Property is less than 1 mile from Pine View Reservoir. This stunning custom Residence features a Gourmet Kitchen, Exquisite Master Suite, State of the Art Theater, Lap Pool & Sauna. A play Room that would be every Childs Paradise. Attention to details & Finishes are evident throughout, including high end materials from around the world. Panoramic Views and captivating sunsets provide a backdrop for the perfect evening..
Here’s a link to the photo tour: http://spotlightxpresstours.com/us/22765
As Barnes bids await,Zions stakes a claim – Salt Lake Tribune.
Interesting article explaining what has happened with Barnes Bank of Utah, and Zions Banks possibility of taking over.
One of the many seized banks of the FDIC during this downturn, Barnes Bank of Utah was heavily invested in speculative real estate. Many of these properties have come up for Auction through the FDIC..
Foreclosures creates boon for homebuyers – Salt Lake Tribune.
Some great opportunities for those of you who are interested in getting a good deal. In today’s market getting a “deal” is important. I have seen some phenomenal deals over the last couple of months. I think the affordable housing has seen its bottom, however in the upper priced range properties, we will see more deals coming our ways.. Keep yours eyes open..
Stocks rise after economic reports notch gains – Yahoo! News.
Well I guess another day of interesting news..? I give up on trying to predict what is actually going on in our economy. Real Estate in UTAH I understand, how our nations financial instituitions are organized I understand. Why our markets are so volatile? In theory I understand, but it sure is hard to wrap my head around what is actually going on in the current world markets..
Program rehabs, sells foreclosed houses – Salt Lake Tribune.
There are some new programs coming out every day to try and help homeowners that are struggeling to make their payments. It is important to understand your options. In an economy where things are unknown, the best advice I could give someone would be to seek a professional. Get some referrals and seek out someone who really understands your options. Often times, there are ways to prevent the worst case scenario’s..
Foreclosure crisis hitting hard on the west side of the Salt Lake Valley – Salt Lake Tribune.
Some interesting news about foreclosure’s in UTAH.. I would say the most important aspect of this article is to show what is happening and where it is happening. A lot of people would like to know the statistics, where here they are..
Here are a few items for you to read about the First Time Homebuyer Credit as it applies to married couples:
I hope this information is helpful. Again, I am not trying to keep you from receiving any benefits. It is my job to get you all the benefits you are entitled to. At the same time it is my job to properly inform you of my understanding and knowledge to keep you from being audited by the IRS. They are watching this credit very close and auditing it very frequently. Please let me know if you have further questions and I will be happy to answer them for you.
Section 36(c) Definitions. For purposes of this section–
(1) First-time homebuyer. The term “first-time homebuyer” means any individual if such individual (and if married, such individual’s spouse) had no present ownership interest in a principal residence during the 3-year period ending on the date of the purchase of the principal residence to which this section applies.
S4. If husband and wife wanted to sell the home that the wife owned when they got married, and the husband had not owned a home within the past three years, could he qualify as a first-time homebuyer for the credit even though the wife would not qualify?
A. No. The purchase date determines whether a taxpayer is a first-time homebuyer. Since the wife had ownership interest in a principal residence within the prior three years, neither taxpayer may take the first-time homebuyer credit. Section 36(c)(1) of the Internal Revenue Code requires that the taxpayer and the taxpayer’s spouse not have an ownership interest in a principal residence within the prior three years from the date of purchase. The husband may not take the credit even if he filed on a separate return.
