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Home Maintenance Tip -
Cooktops and Ranges
Cooktops and ranges generally do not require much maintenance, but a little care and prevention can do a lot to prolong the life of your unit. The key to maintaining range or cooktop function is to keep it clean. Wipe up spills as soon as they cool – acids from foods can cause damage, so clean up spills before they have time to react with the cooktop surface. Reflective drip pans should be cleaned regularly to maintain their shine, because shiny surfaces reflect heat back to the pot or pan. Plus keeping drip pans clean lengthens their life. When cleaning around burner elements, ensure the elements are completely cooled, (to be extra safe, unplug the unit before cleaning around burners), and be careful not to shove debris into wiring or gas ports. Choose non-abrasive cleansers to avoid scratching, pitting, discoloration or damage to vulnerable porcelain or ceramic cooktops.
What’s ahead for the housing market?.
I found this article really informing. I have been saying for some time the real estate market would be changing soon. And this article does a great job in describing the changes to come.
I think one of the most important part of the article talks about the size of homes. I think we are seeing this already here in our local Salt Lake City, Real Estate market. People do not want or need a 5000 sq. ft. home anymore.. They would rather have an affordable home in a nice area.. Some thoughts for you all on this Friday afternoon…
Once again, our good friend Josh Mettle has given us some great insight.. Here is his breakdown of the Federal Reserve meeting from Jan. 27th.. I found it helpful.
A Simple Explanation Of The Federal Reserve Statement (January 27, 2010 Edition)
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy “has continued to strengthen”, that the jobs markets is getting better, and that financial markets are supportive of growth.
There was no mention of the housing market’s strength. The last 3 statements from the Fed included that specific verbiage.
It’s the fifth straight statement in which the Fed spoke about the economy with optimism. This should signal to markets that 2008-2009 recession is over and that economic growth is returning to U.S. economy.
The economy isn’t without threats, however, and the Fed identified several in its press release, including:
Credit remains tight for consumers
Businesses are reluctant to hire new workers
Housing wealth is down
The message’s overall tone, however, remained positive and inflation appears is still within tolerance.
Also in its statement, the Fed confirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period” and to wind down its $1.25 trillion commitment to the mortgage market by March 31, 2010. This is noteworthy because Fed insiders estimate that the bond-buying program suppressed mortgage rates by 1 percent through 2009.
Mortgage market reaction to the Fed press release is, in general, negative. Mortgage rates are rising this afternoon.
The FOMC’s next scheduled meeting is March 16, 2010.
This is an article from a fellow Loan Officer “Josh Mettle”. Very informative, the important part of this article is that for buyers currently in the market, this will help with negotiations.. For sellers? Take note, lower your price to the market analysis and sell your property. 2010 is going to be a rough year just like 2009, I am not going to even begin to predict what is ahead once the tax incentives go away… Scary…
Just one month after from blowing away Wall Street, December’s Existing Home Sales hit the skids, shedding nearly 17 percent and falling to a 4-month low.
Don’t be alarmed, though. The plunge was expected. And not just because Pending Home Sales cratered last month. 
When November’s Existing Home Sales surged, it was clear to observers that an expiring $8,000 federal tax credit was the catalyst. At the time, the tax program was slated to expire November 30 and the looming deadline pushed a lot of would-be buyers from a December time frame into November.
The expiration date has a cannibalizing effect on December’s sales figures. It was only later that Congress extended the tax credit to June 30, 2010.
So, with home sales plunging in December, it’s no surprise that home supplies rose for the first time in 9 months. Home Supply is calculating by dividing the number of homes for sale by the current sales pace.
The national housing supply now rests at 7.2 months.
Despite December’s Existing Home Sales report appearing shaky, it’s actually terrific news for home buyers.
See, for the past few months, as housing has been improving, sellers nationwide have been bombarded by messages of “hot markets” and rising home prices by the media. Psychologically, a seller is more likely to hold firm on price if he believes the housing market is improving and now December’s data is deflating that argument.
This is why we say there’s always two sides to a housing story — the buyers’ side and the sellers’ side. And, usually, what’s good for one party is bad for the other. It’s what we’re seeing now.
Because of soft data like December’s Existing Home Sales, buyers may retake some negotiation leverage that’s been lost since Spring 2009, helping to improve home affordability and, perhaps, spur more sales.
Sales of single-family homes in Salt Lake County were up 36.2 percent in the fourth quarter compared to the same quarter last year. There were 2,403 homes sold, up from 1,764 homes sold a year ago. Last year at this time fourth quarter sales were down 21 percent.
Nearly every area of the Salt Lake Valley reported double-digit increases in single-family home sales. In Draper (84020) home sales soared by 51.7 percent. In Midvale (84047), sales were up 108.8 percent. In Herriman (84096), sales rose by 42.3 percent. In West Valley (84128), sales were up 38.5 percent. Areas of downtown Salt Lake City also saw big increases in sales. Sales in the Avenues (84103) were up 41.7 percent.
Driving the home sales was the $8,000 federal home buyer’s tax credit and more affordable home prices. In the fourth quarter the median single-family home price fell 7.6 percent to $221,650, down from $239,950 a year ago.
There’s 100 Days Left To Claim The Homebuyer Tax CreditNovember 6, 2009, Congress voted to extend and expand the First-Time Home Buyer Tax Credit program. There’s 100 days left to claim it.
The expiration date of the up-to-$8,000 tax credit has been pushed forward to spring, requiring homebuyers to be under contract for a home no later than April 30, 2010, and to be closed no later than June 30, 2010.In addition, “move-up” buyers were also added to the program’s eligibility list meaning you don’t have to be a first-time home buyer to be eligible for the tax credit. If you’ve lived in your home for 5 of the last 8 years, you meet the IRS requirements.Move-up buyers are capped at a total tax credit of $6,500.The tax credit’s basic eligibility requirements remain the same:You can’t purchase the home from a parent, spouse, or childYou can’t purchase the home from an entity in which they’re a majority ownerYou can’t acquire the home by gift or inheritanceAll parties to the purchase must meet eligibility requirementsThe new law includes some notable updates, however.First, the subject property’s sales price may not exceed $800,000. Homes sold for more than $800,000 are ineligible. And, also, household income thresholds have been raised to $125,000 for single-filers and $225,500 for joint-filers.And lastly, don’t forget that the program is a true tax credit — not a deduction. This means that a tax filer who’s eligible for the full $8,00 credit and whose “normal” tax liability totals $5,000 would receive a $3,000 refund from the U.S. Treasury at tax time.The complete list of qualifying criteria is posted on the IRS website. Review it with a tax professional to determine your eligibility. Then mark your calendar for April 30, 2010.There’s just 100 days to go.
Interesting article from the WSJ about the Fed and interest rates this year… Please take our survey and comment on the blog! Everyone’s opinion is welcome!
Dubai names tallest building after bailout patron – Yahoo! News.
Oh you gotta love this.. Can you believe they finished this.. I thought for sure it was going to sit vacant for the next 15 years. But hey, I love being wrong. I wish we had unlimited amounts of oil to throw at our economy!!!
Thought you might like to know about a possible financing solution if you are looking at purchasing a home that needs work but you don’t have the cash out of pocket to complete. Take a look at this article and let us know if you have any questions. We closed one of these this year and are very familiar with it.
Here’s a good deal for you in Holladay on this duplex, it just got lowered to $199,900 from $219,000. I have been watching this since it was originally listed at $229K. There is one next door for $219K right now. I think this is a solid buy and would great for owner occupied. It does need work, but at this price you’ll have the money to do it. If you lived in the property yourself, did an FHA loan, and got a 5% rate, your principal and interest payment would be roughly $1,035. Then you rent out the one side for the $910 a month and now you’re talking a payment of $125/month for principal and interest. Add on taxes and mortgage insurance, and you’d still only be about $350 a month. You can’t rent for that cheap. As always, call us if you are interested. Enjoy.
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Presented by: Brad Miles 801-428-7223
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| List Price: $199,900 | MLS#903070 | Stat: Active | Ref # 1 |
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| Address: 4358 ROSE GARDEN LN | Type: Duplex | Style: Side by Side | ||||
| Quadrant: SE | Coord: 4358/940 | Sold Price: $0 | Area: 106 | |||
| City: Salt Lake City, UT 84124 | Project: | |||||
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Tot Sq Ft:1,600 Gar/Port: 2/0 Yr Built: 1954 |
Taxes: $1,185 Acres: 0.18 Prop. Tour: NA |
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| Features & Info: / Dishwasher Built-In, Range-Oven Free Std / Garage Parking, Separate Power Meters, Separate Gas Meters, Joint Water Htrs, Laundry Hookup, See Remarks Inclusions: Range, Refrigerator |
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| Remarks: Good cond, pergo floors in main area. Good rental history. Price reduced,good cash flow at this price! Fully fenced back yard, cul-de-sac. 4358 vac/keyboxed on meter by front door.On 4360 do not disturb tenants. | ||||||
 Information deemed reliable but not guaranteed. Buyer to verify all information. |
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