May 2010

Found 5 blog entries for May 2010.

Viewing statistics is vital to predicting Real Estate trends. I keep track of how many homes are being sold across the Wasatch Front to stay informed for my friends and clients. There are many other factors affecting the Real Estate industry, but this is a quick way to glimpse market changes. Homes prices are driven by how many homes are being sold. When there is a considerable increase in demand prices and values go up.   These graphs and statistics show how many homes have been sold each month for the past 3 years. You can clearly see the bottom of the market back in January of 2009. So far we have had over 20% more homes sell this year than at this point last year. For more information about what these statistics mean for your particular…
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**There are some possible changes coming in the near future. Here is what is in the works: (Not an official announcement)**   I just returned from the National Association of Realtors® convention in Washington D.C. and want to share some of the valuable information I received. There are three major CHANGES approaching: 1 – Modifications to the Rural Housing program 2 – Tighter restrictions on FHA loans 3 – Adjustments to FHA mortgage insurance  

These announcements are not official yet! They should come out with official statements in the next few weeks.

1) The Rural Housing Program

The current delinquency rates on Rural Housing loans are at a 10 year low! Due to this success the government wants to keep the program running.

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It has finally happened. We have passed the dealine for the $8,000/$6,500 tax credit. However, there is still time for "qualified service members" to take advantage of the program. The government has extended the tax credit to April 30, 2011 for any "member of the uniformed services of the U.S. military, a member of the Foreign Services of the U.S., or an employee of the intelligence community."

This extension is to honor and respect the sacrifice and services these individuals have provided for our country. It is also in consideration of the possibility that these individuals were stationed oversees during the tax credit and have had no opportunity to take advantage of the program.

Because of the nature of their service there has been an additional

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Summer is a great time to Buy/Sell a Home in Utah!

Knowing when and where to sell & purchase a home is vital to Real Estate success. The demand is highest in Utah’s Hot Spots!  These locations are the zip codes and prices ranges that had the most demand and highest success last month. Economic improvement and recovery start in hot spots and then spread to other areas of the valley. These hot spots are the areas that will get top dollar for their home. Purchasing a home in one of these hot spots gives you a front row seat to economic recovery.

1. Salt Lake City, Zip 84117           Price Range: $100K – $200K
Sales History           Current Homes for Sale

2. Lindon, Zip 84042           Price Range: $100K – $200K
Sales History           Current Homes

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