Apparenlty this is not good?
Highest foreclosure rates Nevada
Florida
ArizonaCalifornia
Idaho
Utah
Georgia
Michigan
Illinois
Hawaii
via ksl.com – Utah remains in top 10 states for foreclosures.
People, if you are sitting there wondering if you should keep renting or buy a house, this class is for you! We will cover all questions that many first time homebuyers have including, closing costs, down payment, commissions, interest rates, etc. Please come and invite anyone else who would be interested!
Harry Potter and the Deathly Hallows – Movie Trailers – iTunes.
Hey everyone thinking of doing the New Harry Potter movie for this winters Holiday season, opening weekend before Thanksgiving. If you are wanting to come, make sure I have your right address. Let me know..
Thanks,
Spencer
The economy has been uneasy these past few months and all the speculation has been a double dip recession with Europe’s debt problems, national unemployment, and a struggling stock market. Here is Jim Cramer’s opinion on The Today Show, he’s feeling a bit more optimistic. Hopefully he is right!
ksl.com – Harmons breaks ground on City Creek grocery store.
This is great news, check out the pictures. Downtown Salt lake city, UTAH is not going to look the same. I am really excited about what this means for us as a state..
ince the Fed’s Mortgage Backed Securities purchase program ended, the markets have seen much more volatile price swings. For potential buyers who are waiting to see if home prices come down a little more, that means the wait could well cost them more money in the long run.
Let’s look at an example to see why.
Say a homebuyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. ***But the point is that home prices are already very affordable…and rates are still at historic lows for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Happy 4th of July!
For those of you who want to be in an amazing area at an affordable price, this house is for you. Total it is about 2,800 sq feet which is big for the neighborhood and it also has a mother in law with a separate entrance and complete kitchen. There are 5 bedrooms and 3 bathrooms in this house that is situated on .20 acres fully fenced. Many new ugrades including paint, carpet, roof, etc. Home is close to freeways, shopping, and parks. Don’t miss out.
We need to sell this asap as the owners are relocating to another state! Address is 7292 S. 1540 E. in Cottonwood Heights.
Josh Mettle Blog – Josh Mettle.
This is a great article written by a good friend of mine Josh Mettle. He is one of the top producing Loan offiers in Salt Lake.. Great info..
Existing Home Sales dropped in May for the first time in 3 months but still managed to post its second-highest since November 2009, buoyed by the expiring federal tax credit program.
An “existing home” is a home that cannot be considered new construction; a resale of an existing home. Existing Home Sales fell 2.2 percent in May.
The press is calling the drop in sales “unexpected” anddisappointing, but a deeper look at the data shows the news isn’t as bad as it first appears.
First, on a regional basis, sales were mostly solid. Only the Northeast region posted a loss. The West even managed a gain.
Second, the supply of homes for sale dropped to 8.3 in May and, because home prices are based on supply and demand, this is a positive for pricing.
By comparison, in 2008, the average existing home inventory was 10.4 months.
And, lastly, in May, first-time home buyers represented 46 percent of all buyers. The number was likely buoyed by the tax credit program but that doesn’t damper the fact that first-time buyers provide a support floor for the housing market.
First-time buyers in Salt Lake enable “existing owners” to move-up to bigger homes, which, in turn, trickles up to the mid-size and jumbo markets.
Analysts expected more from May’s numbers and that may explain why the reaction to the data is generally negative. However, in many cities, home resales did just fine.
Tags: Existing Home Sales, Home Supply
YouTube – Detroit in RUINS! (Crowder goes Ghetto).
I found this really interesting, kind of long but worth it. The city has been hit pretty hard. Now I really don’t like turning it into a political issue, because I don’t think it is necessarily. However what we do know is that it hasn’t worked in the past. Scary to think about..
