hit counter joomla

Sales for Salt Lake County (homes/condos) in the 2nd Quarter of 2010 experienced a 7% increase from the same period last year. Prices, however, declined, 7.6% from the 2nd Quarter of 2009. The last half of 2009 reported the largest percentage decline in prices since the housing downturn began in 2007. The good news is that price declines seem to be leveling off. The increase in sales can be attributed to the $8,000 tax credit, stimulating the number of sales. It will be interesting to see if the trend continues next quarter. I will report these numbers as soon as they are out in October.

Did you or someone you know miss getting in on the tax credit? Want a better reason to purchase now than when we had the $8,000 tax credit? Interest Rates! With interest rates at historic lows, the value of your buying power is 3 times the value of the $8,000 credit. Rates are almost 1% lower than when the tax credit was offered. If you borrow $200,000 now at 4.75%, you have $21,222 more buying power than at 5.75%! If you missed the tax credit, don?t miss the low interest rates, call me today to get started looking for your new home.

{ 0 comments }

Salt Lake County Home Sales, 1st Quarter 2010

by Marvin Jensen on April 2, 2010

in statistics

Looks like home prices in the 1st quarter of 2010 increased slightly from the 4th quarter of 2009. The number of sold units was down from the 4th quarter 2009, but slightly higher than the 1st quarter of 2009. The number of listings also increased from the 4th quarter of 2009, which saw the lowest level in at least 6 years. Interest rates are still low, and the tax credit will probably keep home sale steady through the 2nd quarter of this year.

{ 0 comments }

New Rules in Utah for Loan Modifications

March 30, 2010

Home owners who fall behind on their mortgages will most likely be approached by people offering to help them save there homes from foreclosure by a loan modification program. In the past, these people didn’t have to be licensed by the state of Utah, they could just get a Notice of Default list from the [...]

Read the full article →

NEW LISTING: One Acre View Lot in Emigration Place

March 24, 2010

Read the full article →

How Mortgage Interest Rates Change

February 22, 2010

A great video from Mortgage Success Source about how mortgage interest rates change. This complex issue is broken down to understandable bite size pieces.

Read the full article →

Travelocity Gnome is Headed to Utah!

February 4, 2010

The contest between Utah skiing and Lake Tahoe for the Roaming Gnome is over, and the WINNER is Utah!! According to The Salt Lake Tribune, Utah won by a slim margin, but it is still a win. The Travelocity Gnome will be coming to Utah for his next ski vacation. Sources have it the the [...]

Read the full article →

30 Year Interest Rates Could Jump March 31, 2010

February 2, 2010

For all the Home Buyers sitting on the fence waiting for property values to decline, down to the last penny, you should be watching the Fed and it’s plan to stop buying mortgage back securities at the end of March, 2010. Since last year, the Fed has pumped over a trillion dollars into the purchase [...]

Read the full article →

**REDUCED** 5 South 500 West, #901 Salt Lake City, UT

January 25, 2010

Just Reduced! Great condo home in the Gateway project of Salt Lake City.

Read the full article →

Thinking of Moving to Utah? This is Why We Love it Here!

January 25, 2010

Read the full article →

FHA Lifts 90 Day Seasoning Requirement

January 16, 2010

If you’ve tried to buy a foreclosed home within the last 6 months, you found that if you were using an FHA loan, you were unable to get financing because of the requirement that limited FHA from insuring homes owned less than 90 days by the current owner. Most of the affordable homes were purchase [...]

Read the full article →