Utah County Homes for Sale - Annual Percentage Rate (APR) As a Loan Officer here in Utah County, I have found that many consumers don't fully understand the term Annual Percentage Rate.  Probably no other disclosure is as baffling to the average consumer as APR is.  Few understand how the APR can be higher than the interest rate.  The APR is the finance charge expressed as a numerical percentage, which is an expression of the annualized finance charge.  The APR includes the interest rate plus all of those items that are included in the finance charge. Although few mortgage lenders actually do it, lenders are required to disclose the APR when inquiries are made orally.  The APR also has to be fully disclosed on any advertising materials.  Search Utah MLS Listings - Utah's Finest MLS Home... 09/06/2010

Utah County Real Estate - Loan Application and Documentation When it comes time to purchase new home, your first step in the purchase process is to get pre-qualified for your home loan.  Once you contact a Mortgage loan officer, he will ask you to fill out a Mortgage Loan Application (1003) and supply him with documentation.  The documentation required will vary, but generally you will supply the following: •·         Federal income tax statements and verification of any additional income •·         Your two most recent W2's •·         Current paycheck stubs •·         Recent bank statements •·         Asset and liability information (stocks, bonds, other real estate, etc.) Good Luck and Happy house hunting. Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah Homes... 09/02/2010

Utah County Real Estate - For Sale by Owner (FSBO) or Realtor Some people are very successful at selling their home "by owner".  They have knowledge of key marketing strategies, how to best show their home, and they possess a good understanding of contracts.  They are versed in negotiation tactics, but most of all, they are aware of the current market in their area and have priced their home appropriately.  They realize the majority of homes on the market today are sold through an agency and they are aware that potential buyers might expect them to sell for less that market value because they will not be paying an agency commission.  On the other hand, listing your home with a Realtor means that upon the sale, you pay a commission to the agencies involved out of your proceeds.  This com... 08/14/2010

Utah County Real Estate - Buyer Agent Commission (BAC) One of the most often used marketing tricks that Listing agents use to attract home buyers is a Buyer Agent Commission (BAC) that is larger than what is generally offered.  Generally speaking most home sellers offer a commission of 6 percent to the agents that assist to sell their homes.  Half of the commission or 3 percent goes to the agent that listed the home for sale.  The other 3 percent goes to the agent who represents the buyer in the transaction.  By offering an inflated BAC, the listing agent is hoping that the agent representing the buyer will show their home before the home that only has a 3 percent commission. Home Buyers Beware Home buyers need to understand that sometimes their agent may be motivated to show them a hom... 08/08/2010

Utah County Homes for Sale - Home Warranty, Home Buyer Protection Plan As a Realtor who represents the Home Buyer, I have found through the years, the Home Warranty to be a very important factor in the home purchase process.  The last thing a new home buyer wants to worry about after closing is the possibility of something breaking down.  There are many things that could go wrong, for peace of mind; it would be a good idea to get a home protection plan.  I believe it is especially important for First-time home buyers, with little experience maintaining a home. Generally the Seller pays for the Home Protection plan and Home Warranty coverage.  This is not only a benefit for the Home Buyer, but it also protects the Seller, because the home buyer won't be calling and bothering him when thi... 07/28/2010

Utah County Real Estate - Picking the Right Home There are a number of things to consider when choosing the right home and everyone's priority is different.  Where should it be located; neighborhood preference; single or multi-level, number of bedrooms and baths; square footage: yard size; features: quality of school; age of home; interior or exterior appeal; and most of all, price, because if it's out of your budget, it can't be considered. Make a List Make a priority list of things important to you.  Start with the most important, things you have to have.  Then work down the list, putting them in order of most important.  After you are done, go up to the top and move down until you get to a place where you can draw a line.  Above the line should be all of the items you have to have, a... 07/25/2010

Utah County Real Estate - Home Buyer Representation During the past 25 or so years, home buyers have been able to choose between Buyer agents or the Sellers agent representing the Seller, to buy a home from. Many buyers didn't even know that they could use a buyer agent or even if they were available. Most home buyers assumed the agent showing the home represented them. Seller agents were obligated to represent the seller's interest unless they had a separate written agreement with the buyer to represent them. The FTC did a study of the Real Estate brokerage industry in 1983 and determined that most home buyers actually thought that the Real Estate agent showing them homes was working in their best interest, the vast majority were wrong. The FTC started putting pressure on the states to... 07/15/2010

5 fewer American Fork homes sold during the second quarter of 2010.  Prices took a big fall, decreasing more than 10%.  Real Estate in American Fork currently has 10 months of inventory. 07/13/2010

We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION      Other good signs in addition to positive price action is lower DOM (days of the market), lower new listingsand higher percent of new listings being SOLD.   SUMMARY Has the Utah Real Estate Market bottomed? Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  We are seeing more signs of a bottom coming into play. Investors with a long term buy and hold strategic.  Opportunities are making sense.  Contact your property resource specialist for information to make an informed buying decision. Owner/occupied homeowne... 07/04/2010

Utah County Real Estate - Your Dream Home May Not Wait! Are you always thinking about that perfect Utah Dream Home?  Wondered if you could afford a more spacious house?  Are your children growing up and you wish you had more rooms?  Well, winter time could very well have the opportunity that you have been waiting for.  Today, could hold the life time opportunity to get amazing deals on that dream home you have always been thinking about.  Mortgage rates are low; home prices are down, you should think twice before you wait till spring and lose out on these great opportunities. Some ideas to consider when one is seeking to buy a home: •·         Understand the options available and begin screening immediately.  Being an early mover gives one a definite advantage to get the best deal on pr... 06/25/2010

Energy Audits for Historical Buildings like the Harrington Elementary School in, American Fork, Utah | Information gathered from any Utah energy audits in the Historic Areas of Utah County, Utah will be used to determine energy efficiency, retrofitting and weatherization projects using funds from the Energy Efficiency and Conservation Block Grants (EECBG). Retrofitting projects will include air infiltration, energy efficient windows and doors, insulation levels, weather-stripping and caulking, and electric base loads.   Using its EECBG formula funding to retrofit and improve the energy efficiency of a number of it's municipal buildings that will result in substantial reduction in energy usage. EECBG Formula grants can be used for energy efficiency and conservation programs and projects ... 06/16/2010

Energy Audits for Historical Buildings like the American Fork City Hall in Utah | Information gathered from any Utah energy audits in the Historic Areas of Utah County, Utah will be used to determine energy efficiency, retrofitting and weatherization projects using funds from the Energy Efficiency and Conservation Block Grants (EECBG). Retrofitting projects will include air infiltration, energy efficient windows and doors, insulation levels, weather-stripping and caulking, and electric base loads.   Using its EECBG formula funding to retrofit and improve the energy efficiency of a number of it's municipal buildings that will result in substantial reduction in energy usage. EECBG Formula grants can be used for energy efficiency and conservation programs and projects community wide, as we... 06/15/2010

Utah County Homes for Sale - Home Buyers Top Three Mistakes Well you have finally decided that it is time to stop renting and that you need to purchase a new home.  Be aware that is important to stay calm and think your way through the process; don't get so excited that you overlook a few very important steps. Failure to get pre-qualified before making an offer on a home: The very first step you need to take when considering the purchase a new home is that of interviewing and hiring a Mortgage Broker or Loan Officer.  Understanding how much you are qualified to purchase up front can save you a lot of time and frustration later on.  The pre-qualification letter is very important to the seller when it comes time to make offer on their home.  Taking the time to get pre-qualified gives you ... 06/14/2010

Utah County Homes for Sale - Comparable Sales Access One of the most accessible sources of comparable sales is the public record.  When someone buys a home the property is deeded from the seller to the buyer.  In most circumstances, this deed is recorded at the local county recorder's office.  They combine sales data with information already known about the property so they can assess property taxes correctly. Accessing the data can be somewhat difficult for the general public.  Realtors gain access through title insurance companies.  The title companies either compile the data directly from the county recorder's office or purchase it from other companies.  One problem with the public record is that it tends to run a little behind.  By the time the consumer is able to access the informa... 06/05/2010

Utah County Homes for Sale - Seller Disclosures When touring prospective properties to purchase, we are very careful to look at the walls and the ceiling, turn on faucets, and play with light switches, but how thorough should we be?  The seller has years of knowledge about his or her home and there may be things you want to find out about as quickly as possible.  For this reason, you should require certain disclosures as part of the offer. You want the seller to disclose any adverse conditions that may have a substantial impact on your decision to purchase the home.  This must include any problems with the house, whether the property is in a flood zone, a noise zone, or any king of hazardous area. When you have a Realtor representing you, this is almost automatic, but many states do not... 05/28/2010

American Fork Utah Real Estate went from its best year of home sales in 2006 to its worst year in 2008.  That meant that over 100 fewer homes sold in just a two year period.  American Fork homes sold close to the same number of homes as sold ten years ago but prices are quite a bit higher.  When looking at a standard 4% appreciation from the year 2000, both median and average price of homes in American Fork are about $10,000 higher. 05/25/2010

While prices of Real Estate in American Fork UT declined 7-8%, the quantity of houses sold stayed the same.  Current prices of American Fork homes are similar to sold prices from the 1st quarter. 05/21/2010

Utah County Real Estate - Closing Costs Closing on a property is a very challenging time for a would-be homeowner.  Being informed, either through your mortgage broker, Realtor, or through self knowledge is the best thing you can be when going through this procedure.  A good Realtor can help you tremendously.  They should know the local market well enough to help you save money in whatever way they can.  Since closing costs are handled differently in different areas, having a professional with experience in that area is your best bet.  They can give you a better idea of what costs are customarily paid by the buyer, and which ones are paid by the seller. The Mortgage Broker you deal with can make a big difference as well.  Have them show you several programs suited to your needs.  There ... 05/18/2010

Interest Rate and APR - Utah County Real Estate Many borrowers don't understand that there is a difference between the Mortgage Rate and the Annual Percentage Rate (APR).  The mortgage rate is the base rate usually associated with a mortgage.  The APR of a loan is supposed to be an overall interest rate with all the applicable closing costs factored in.  Unfortunately, not all lenders include the same costs so not all APR's are created equally.  Use the APR as a general guide to the overall cost of the loan but keep in mind that you have to look at the details of what's included to be sure. Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah Homes For Sale  Provo Real Estate WS  Orem Real Estate WS  Utah Homes 4 Sale  Alpine Real Estate  Alpine Real Estate  Cedar H... 04/05/2010

Sell Your Utah County Home Before You Buy a New One When it comes time to purchase a new Utah County Home, the question always comes up, should I sell my old home before I buy the new one?  Depending on your credit situation and your ability to qualify for two loans, this question could be easily resolved.  We will assume you have excellent credit and can do whatever you please.  It is always better to have your present home sold before you make an offer on the new home.  If you have an offer with a contingency of selling the old home, the seller will be less likely to accept the offer or allow better terms.  You will always be in a better bargaining position if you were able to move in without delay.  Credit terms on you new loan will also be better based on you living in the new home ... 02/09/2010