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Herriman, UT Real Estate News

By Mark Watterson, Utah Real Estate
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.  This is NOT a good time for those investor with low and/or no risk tolerance to purchase.  Investors with a long term buy and hold strategic.  Opportunities are starting to make sense.  Contact your property resource specialist for information to make an inf...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale - Benefits of Home Buying Buying a home is a very good investment. As a general rule, homes appreciate about five percent a year.  Some years will be more, some less.  The figure will vary from neighborhood to neighborhood, and region to region.  Five percent may not seem like that much at first.  Stocks, at times, appreciate much more, and you could earn over six percent with the safest investment of all, treasury bonds. Presumably, if you bought a $200,000 house, you did not pay cash for the home.  You got a mortgage, too.  Suppose you put as much as twenty percent down - that would be an investment of $40,000.  At an appreciation rate of 5% annually, a $200,000 home would increase in value $10,000 during the first year.  That means you earned $10,000 with a...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale - Refinance or Purchase With the Utah County real estate market going through all the changes it is presently going through, many new questions start to come up.  Should I buy a new home?  Should I re-finance my present home?  Should I rent out my present home and Upgrade to a new home?  The scenario I see quite often these days is the later.  Many of my home buyers are looking into renting their present home due to the high demand that there is for rentals.  Once they find a good qualified renter, the next step is to take advantage of the great deals available on new homes and the low interest rates that make it possible to upgrade and keep their payment reasonable. The re-finance scenario is more difficult to accomplish, due to the decline in the home values...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah Real Estate - Seller Motivation and the Offer Price When looking for Utah County homes for my buyer clients, I have found that the Seller's Motivation can have a dramatic affect on the price of the home.  The most common "Motivated Seller" is someone who has already bought his or her next home or is relocating to a new area.  They will be under the gun to sell the home quickly or face the prospect of making two mortgage payments at the same time.  Since that can drain a bank quickly, most sellers want to avoid such a situation and may be willing to give up thousands of dollars to avoid the possibility. Family crises can be a motivation for a seller to make a quick deal.  However, when you see a real estate ad that mentions, divorce, motivated seller, relocation, or something to tha...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Interest Rate and APR - Utah County Homes for Sale 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  Ceda...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah Homes for Sale - Contingencies and the Purchase Offer When it comes time to make an offer on your new Utah home, occasionally there are a few obstacles that make it difficult.  It is sometimes hard to discover all the potential problems that might go wrong, but you might want to anticipate some so that you can cancel the contract without penalty.  These are called "contingencies and you must make sure to include them when you offer to buy a home. One of the more popular contingencies is having to sell a previous home before purchasing a Utah home.  Making the closing the sale of the home a condition of your offer is important to avoid having to pay two mortgage payments instead of one.  Other popular contingencies include the ability to obtain financing, property appraising high en...
Comments 1
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Homes for Sale - Top Three Buyer Mistakes Well you have finally decided that it is time to stop renting and that you need to purchase a new Utah County 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-qua...
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Are you purchasing a short sale, vacant or foreclosed home, condo or townhome in Herriman, Utah? Industry experts and the federal government all agree and recommend using thermal infrared cameras on all home inspections. Hi resolution infrared thermal imaging is the only tool to uncover hidden water and sewer drain leaks that most often occur when a vacant home sits unattended over the winter. We are finding an ever increasing number of vacant homes with small plumbing leaks that only high-rez infrared cameras can find. These leaks, if left unrepaired will only cause a mold problem to manifest itself in the months to come. Alamo Infrared is the original infrared home inspection and energy auditing company in the Rocky Mountain West. For more information visit our website:  www.utahenerg...
Comments 1
Are you purchasing a short sale, vacant or unoccupied home, condo or townhome in Herriman, Utah? Industry experts and the federal government all agree and recommend using thermal infrared cameras on all home inspections. Hi resolution infrared thermal imaging is the only tool to uncover hidden water and sewer drain leaks that most often occur when a vacant home sits unattended over the winter. We are finding an ever increasing number of vacant homes with small plumbing leaks that only high-rez infrared cameras can find. These leaks, if left unrepaired will only cause a mold problem to manifest itself in the months to come. Alamo Infrared is the original infrared home inspection and energy auditing company in the Rocky Mountain West. For more information visit our website:  www.utahenerg...
Comments 1
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
What is a Utah Short Sale? With the present Utah Real Estate market in turmoil and many home owners are having a hard time trying to sell their home, because they owe more than it is worth.  I keep getting the question from my buyers about what is a Short Sale and how does it work?  Well I will try and address that question here.  I hope I am accurate, I am sure I will hear about it if I am not. What is a Short Sale? A Short Sale occurs when a property sells for a price that is insufficient to pay back the loans secured by the property (or any other liens against the property, such as delinquent property taxes, Homeowners / Condominium Association fees, etc.), as well as standard sales closing costs.  In order to complete such a sale, the Seller must either: •·         Come to the closi...
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By Alan Barker
(Boomerang Leads)
Despite recent market conditions, homes in Herriman sold only decreased took a big drop for one year and is now at an all time high.  That being said, Herriman Real Estate prices have continued to decrease and are currently still above the estimated appreciation since 2000.
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Looking to increase the energy efficiency of your existing home in the Herriman area of Utah? Are your Questar gas bills through the roof? Let Alamo Infrared Energy Audits and Home Inspections inspect and evaluate your Herriman area home or business. Our modern equipment can evaluate and determine the air tightness of your new home. Leaky windows and doors as well as missing or insufficient insulation can only be detected using high performance blower doors and infrared cameras. For more information visit our website:  www.utahenergyaudit.com  www.umrt.com Alamo Infrared is the oldest and largest energy auditor for homes, businesses and government buildings in the Rocky Mountain West.
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By Mark Watterson, Utah Real Estate
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 Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperienc...
Comments 1
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Loan Documentation When it comes time to purchase new Utah County 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 For Sale  Pr...
Comments 0
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Contingencies and the Utah County Purchase Offer When it comes time to make an offer on your new home, occasionally there are a few obstacles that make it difficult.  It is sometimes hard to discover all the potential problems that might go wrong, but you might want to anticipate some so that you can cancel the contract without penalty.  These are called "contingencies and you must make sure to include them when you offer to buy a Utah County Home. One of the more popular contingencies is, having to sell a previous home before purchasing a Utah County Home.  Making the closing the sale of the home a condition of your offer is important to avoid having to pay two mortgage payments instead of one.  Other popular contingencies include the ability to obtain financing, property appraising hi...
Comments 0
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Buyers and Sellers - Closing Costs Who pays for Closing Costs? There have been times in the past that I have had clients come to closing not understanding what kind of money they would be required to pay. There are various fees associated with buying and selling a home.  These fees are called closing costs.  Some of these fees are automatically assigned to either the buyer or the seller, other costs are either negotiable or are dictated by local area custom. Utah County Home Buyer Closing Costs When the buyer applies for a home loan, loan officers are required to provide the borrower with a good faith estimate of their closing costs.  These fees will vary depending on the type of loan and the terms of the purchase agreement.  Some of the closing costs, especially those ...
Comments 1
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Buying vs. Utah County Renting There are certainly some advantages and disadvantages to renting in Utah County versus owning your own home.  When you rent, you are normally limited on what you can do to improve your home.  You have to get permission to make changes or improvement to the home.  It really doesn't make sense to paint, put in new carpet, tile or window coverings when the main person who benefits is the landlord.  The landlord wants to keep expenses to a minimum and will probably not be spending much to improve the property as well.  When you own the home you do pretty much whatever you want to.  You get the benefit of any improvements you make.  You can really make your home a home. Search Utah MLS Listings Utah County Real Estate  Utah County Homes  Utah H...
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By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
Salt Lake Real Estate - Homes for Sale In Herriman UT. The latest Salt Lake Real Estate report on Homes for Sale in Herriman Utah, revealed some interesting information about what is REALLY happening in the market in the South Valley zip codes of 84096, & 84065. Keep in mind that this is just a snapshot of what has happened over the last 30 days to homes listed For Sale on the Wasatch Front MLS. Primarily the report will provide helpful information for home buyers constructing a winning offer and home sellers that are attempting to structure a sales price for a Herriman home or condo. None of the homes for sale by owners (FSBOs) in are listed here. Likewise, all of the new construction will not be reviewed, but a considerable number do show up, mostly in the foreclosed or pre-foreclosed...
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By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
Salt Lake Foreclosures In Herriman UT-What To Offer?  Last weeks post that identified Salt Lake Foreclosures, where they were and what home buyers were actually paying for them, was a big hit. We got calls about just about every community in the Salt Lake Area. There was a lot of interest in the newer home listings of Salt Lake Foreclosures In Herriman UT, Draper, and South Jordan UT, and we have been asked to do the "how much have the homes sold for in Herriman Utah" to determine how much to offer on the foreclosed homes folks are considering buying.  Needless to say, our blog on how much to offer on Salt Lake Foreclosures will become a monthly staple. A lot of potential home buyers asked if we would comment on individual  areas or Zip codes in Salt Lake City. Yesterday we started our ...
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By Mark Watterson, Utah Real Estate
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 listings and higher percent of new listings being SOLD.    SUMMARY Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperien...
Comments 0