Considering a Short Sale or Foreclosure

There are two things to consider when deciding whether or not to short-sale or foreclose: Equity and Cash Flow. If you have positive equity in your home you should not Short Sale or Foreclose. If you no longer wish to make your payments you should be able to sell your home without a Short Sale. If you have negative equity (owe more than your home is worth) you need to consider cash flow before making any decisions.

Positive cash flow means the mortgage can be paid each month with your income (not using savings, gifts, or increasing your debt). If you have positive cash flow (break even or better) you should keep your property. Even if it has negative equity. If you can continue to make your payments, do so. If

The weather may start cooling down this month, but things are still pretty HOT for housing... in the right areas. Last month we saw some interesting statistics. Utah County had 15% more homes sell last month than during August of 2010. Sale Lake County saw 30% more sales compared with last year. Tooele County had DOUBLE the number of homes sell this August! 


So where exactly are all the homes selling? That is where UtahDave's Hot Spots come in. We track the hottest locations based on how many homes sold, how many are currently on the market, and how many buyers are looking in that area. It is a prime time to sell your home if you live in a Hot Spot! If you are looking to purchase a home that will retain it's value over the years, purchase a home in a Hot