3 Reasons to Move and Buy a Home in Utah

3 Reasons to Move and Buy a Home in Utah From RockyMountainMovers.net

Sep 9 Rocky Mountain Movers News, Uncategorized

According to a report by the Utah Association of Realtors, home sales in July 2011 rose 16.4 % as compared to July 2010.

Here’s why:

1) Affordable

The National Association of Home builders reported that Salt Lake City reached a seven year high for home affordability. 79% of homes sold in the second quarter of this year were within reach to families that make median area wages.

2) Favorable Conditions

According to Amber Wykstra loan production manager for Bank of Utah,

“Some people have been hesitant to buy a home because of the instability of the national economy, but certain favorable conditions in Utah’s housing market have created a great window of opportunity for those anticipating buying a new or existing home.”

3)  Low Interest Rates

Eric Allen, director for the Utah/Idaho Metro study said, “The combination of low interest rates and falling home prices have resulted in a prime environment for potential buyers to find affordable properties.”

Mortgage rates have been at record lows for months averaging 4.15%. Utah’s housing market makes it a great time to buy right now with low interest rates and affordable pricing. Consider using Utah movers after you purchase to move into your new home!

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Utah's Real Estate Market Update

Update On Utah's Real Estate Market

Monday, March 5, 2012 - Article by: Linda Miller 

In Salt Lake County previously occupied homes sales rose in January to the highest pace in five years. This is similar to what is happening nationally and it is offering a hopeful sign that there will be a good spring buying season.

Last month's home-sales total was the highest since January 2007. And although sales are up prices are not. In January the median home prices in Salt Lake County fell to $171,000 from around $220,000 in January, 2007. Nationally, home sales have risen nearly 13 percent over the past six months and analysts suggest slow but steady improvement.

However, while home sales are trending up, home prices are not. As in Utah, nationally prices are still falling. However, on the positive side the pace of the decline seems to be slowing.

The supply of homes on the market in Utah has declined to 6 months which is consistent with a healthy housing market. Fewer homes on the market could help boost prices over time. Most economists are encouraged but also caution that the damage from the housing bust is deep and it will take years to fully recover.

With historically low mortgage rates, home builders and real estate professionals are more hopeful because more people are saying they are considering buying this year. Much of the optimism has come because hiring has picked up. Unemployment in Utah is well below the nation with 6.3%. If you are in a situation where you have good employment and a good credit history, now is the time to find out what it would take to get a home loan. While lenders have really toughened up their guidelines, good credit and good job history can put you in a new home.

Today's Best Available Rates in Utah
-30 Year Fixed Conventional - 4.00% but with higher closing costs you can get 3.875%
-30 Year Fixed FHA/VA - 3.75% with higher closing costs. 3.875% with no origination fee
-15 Year Fixed - 3.375%
The Best Available Rates are generally for those borrowers with excellent credit (740 plus) and 80% loan to home value. Mortgage insurance applies to conventional loans over 80% loan to home value and for all FHA loans.

Click  below to read entire article:

http://www.lender411.com/mortgage-articles/4510/Update-On-Utah%26%23039%3Bs-Real-Estate-Market/

Tips to a Quality Paint Job with Less Cost

8 Tricks to a Pro-Quality Paint Job

What to know before you pop the lid...

Quite simply there is no quicker, less expensive way to revamp a space.

1. Pick Your Paint Type:

Water-soluble latex is DIY-friendly because it cleans up with soap and water and dries quickly. Oil paint dries slowly and requires mineral spirits for cleanup, but it hardens into a very durable finish.

2. Choose Your Sheen:

Flat and low-luster paints give a rougher surface that hides flaws; glossier finishes highlight imperfections but for a smoother, more water-resistant surface that can stand up to the high traffic and moisture-think kitchen and bath.

3. Start with Good Tools:

Look for brushes with bristles that are tapered, split and arranged in multiple lengths to for a slim tip. A mix of nylon and polyester will hold and release latex paint particularly well, while natural bristles work best with oil based paints. With rollers, match the nap to the surface texture: 3/8-inch to 1/2-inch nap for most drywall.

4. Invest in Quality:

Cheaper paints and primers swap more pigment for costlier resin, so they cover walls well when wet but show bare spots as they dry. Quality primers, such as those from Zinsser, will adhere to glossy painted or stained surfaces without sanding, ultimately saving you time and money.

5. Prep:

To make the job easier, take the time to clear out the room and cover floors and fixtures with drop cloths. Spackle any damaged drywall, scuff and sand the surfaces to be painted, and vacuum up all the dust. Wipe down ceilings, walls, and trim with a damp sponge. Finally, prime the entire surface.

6. Cut In:

Use a 2 1/2-inch angled brush to pint the border of the area you're working on. Framing in your field this way buffers the roller from mussing adjacent surfaces.

7. Learn to Lay Off:

After you've rolled a section, make a series of long vertical strokes up the full length of the wall, moving in one direction (left or right). This last step, called laying off, will distribute wet paint in a nice, even layer.

8. Score Carefully:

If you've masked off baseboards with painter's tape, pull it off the same day you paint-but first run a putty knife blade held at a 45 degree angle along the edge so that you don't accidentally pull away any paint.

This Old House: Your New Home, "8 Tricks to a Pro-Quality Paint Job". Pg. (14) Spring 2011

How Well Are You Covered?

What you should know about Homeowners Insurance...

Properly Insure Your Home

Most insurance companies recommend that your policy covers 100% of the replacement cost. If your home is financed, many mortgage banks will have minimum coverage requirements.

Consider the following:

1. Estimate the cost to rebuild:

Ask your real estate agent or mortgage representative for average local building costs and

multiply it by the square footage or your dwelling.

2. Account for the value of your personal possessions:

Determine the amount of coverage needed to replace the contents of your home with new items at current prices if everything were destroyed.

3. Learn about the geology of the area you live in:

Review your policy's exclusions statements. You many need supplemental coverage for natural disasters or other hazards unique to the location of your home.

2010 Buffini & Company. All Rights Reserved. Used by Permission. HDTG CAP 3

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10 Deadly Mistakes Buyers Make When Purchasing a Home

1 Not choosing a real estate agent who is committed to forming a strong business relationship with you:

Making a connection with the right real estate agent is crucial. Choose a professional who is dedicated to meeting your needs before, during and after the sale.

2 Not getting pre-qualified before making an offer on a home:

Prequalifiation will make your life easier. Take the time to speak with bank or mortgage representatives. Their evaluation of your income, financial obligations and other factors will help determine a price range that will fit your budget. This is one of the most important steps on the path to home ownership.

3 Not knowing the total costs involved:

Early in the buying process, ask your real estate agent or mortgage representative for an estimate of closing costs. All expenses including title insurance, homeowners association dues and prepay responsibilities should be considered. Remember to examine your settlement statement prior to closing.

4 Not searching beyond open houses, ads or the Internet:

Many homes listed in magazines or on the Internet have already been sold. Your best course of action is to contact a real estate agent. They have up-to-date information that is unavailable to the general public, and are the best resource to help you find

the home you want.

5 Not considering alternatives for what you think is the perfect home:

Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities.

6 Not contemplating long-term needs:

It is important to think ahead. Will the home and the terms of themortgage suit your needs 3-5 years from now? How about 5-10 years?

7 Not following through on due diligence:

Make a list of any concerns you have relating to the home and the community, such as crime rates, schools, power lines, neighbors and

environmental conditions. Ask the important questions before you make an offer on a home. Be thorough so that you can have confidence in your purchase.

8 Not having a home inspection:

Trying to save money today can end up costing you tomorrow. A qualified home inspector will reveal potential issues that

may affect your purchase decisions.

9 Not examining insurance issues:

Certain problems with the structure, condition or location of a property could affect its insurability or the cost of coverage. Consult an agent early in the buying process to avoid surprises and to choose a policy that best fits your needs.

10 Not purchasing a home warranty:

This is essentially a protection plan that usually lasts one year from the date of sale. It typically covers the repair of a home's major systems and appliances, and can be purchased for a nominal fee with the option to renew annually. Your real estate agent can

help you identify the right home warranty.

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