September 2009

Found 7 blog entries for September 2009.

Even with the Nation Stabilizing Some Cities Demonstrate Above Average Growth

There are signs of real-estate market growth all over the nation. In most cities these signs of recovery are small, but the signs in some cities are significantly greater. One of the major indicators of a growing market is the number of building permits that have been procured. The top three cities in the United States have actually seen more building permits this year than last year. Why are these cities starting to re-grow faster than others in the nation?

The city with the greatest increase in the nation is Lake Charles, Louisiana. There has been a 122% INCREASE in building permits from last year! What is the secret to their growth? The destruction of Hurricane Ike and

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Last August I was predicting that January of 2009 would be the worst month for home sales that we have ever seen. It was. People kept asking when the bottom was going to be, but it contintued to elude us, things kept going down.

So where is the bottom for home sales? It looks like it was January of 2009. Looking back at the statistics for this year you can see that home sales bottomed out in January. There were even 2 months where Salt Lake experienced an increase in homes sold compared with the year before.

If Salt Lake were to maintain 1,000 home sales for the next 3 months, this year will be almost identical to 2008 in the total number of homes sold. That would show a true bottom in home sales. (Not necessarily prices, this requires a switch in

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What would you have done in 2006?

"The market is hot!" In 2006 this is what many builders were telling anyone who had a good credit score. "I just built a home, turned around and sold it and the buyer made $100,000." Every person with a decent credit score wanted to make money just as easily! It is important to remain 'wise' amidst such 'hype'.

Investor "Wise" -vs- Investor "Hype": A Tale of Two Investors

Back in 2006 investor "Wise" called me on the phone asking for advice. "Dave, I'm thinking of building a home. I put money down with a builder and was told I can make a ton of money. Do you think it is a good idea?" In response I asked him 2 questions:

Question #1 - Median price range

Investor "wise" mentioned that the cost of the home was in the

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Sandy city has rolled out a home-buying incentive program!

Sandy city has created a new program that will provide low- and moderate-income home buyers with $5,000 for buying a new home in the city. These funds, which can be applied to the down payment and/or closing costs, are actually interest-free loans. After staying in the home for three years, the loan becomes a grant and does not need to be repaid.

Sandy plans to provide 10 loans to buyers of existing, never-occupied homes, and another 10 to buyers who would like to build their home. To qualify for the grant the purchased home needs to be within Sandy city limits, and must be a "single-fmaily" dwelling (this includes townhomes and condos). Also, the purchase prices cannot exceed $305,000 and

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Utah Housing Corporation launches Equity Now a program to monetize the home-buyer tax credit!

Home buyers who use a Utah Housing Corporation loan can now use the $8,000 first-time home buyer tax credit to help with their down payment and closing costs. This is done through a new monetization program called Equity Now. Under the program, home buyers will take out a second mortgage, which can be up to 6 percent of the first mortgage amount. Because the first-time home buyer tax credit funds are not available before a home purchase, this second mortgage will be used to help pay the down payment and closing costs. This second mortgage can then be paid off with the funds from the tax credit when it becomes available.

After closing, qualified buyers will

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Utah Housing Corporation launches Equity Now a program to monetize the home-buyer tax credit!

Home buyers who use a Utah Housing Corporation loan can now use the $8,000 first-time home buyer tax credit to help with their down payment and closing costs. This is done through a new monetization program called Equity Now. Under the program, home buyers will take out a second mortgage, which can be up to 6 percent of the first mortgage amount. Because the first-time home buyer tax credit funds are not available before a home purchase, this second mortgage will be used to help pay the down payment and closing costs. This second mortgage can then be paid off with the funds from the tax credit when it becomes available.

After closing, qualified buyers will

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Mortgage rates are still low and Government incentives are getting ready to expire. The market is hot, but where is it the hottest?

Some areas of Utah have been heating up more than others. Based on where homes were selling last month we have an idea of where home sales are going to be the hottest this month! Those living in these hot spots can get top dollar for their house and get a great deal on another home! These Hot Spots are also prime locations to buy because you can count on a stable home value and being able to sell if you ever need to.

1. Salt Lake City Zip 84109 Price Range: $200K - $250K

Sales History Current Homes for Sale

2. Salt Lake City Zip 84108 Price Range: $100K - $200K

Sales History Current Homes for Sale

3. Salt

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