Archive for the ‘Uncategorized’ Category

How to Maintain Great Credit
August 22, 2017

Here are some great tips on how to maintain a great credit rating. Lots of my clients ask me, “What are the current interest rates?” The true answer is that the better your credit rating, the more favorable interest rates you personally will be able to receive. I hope you will find these tips helpful so that you can obtain the best possible interest rates in today’s marketplace.

How to Maintain Great Credit

Please click on image to enlarge for enhanced readability.

 

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4 Urgent Reasons You Should Sell Your Home in 2017
February 7, 2017

Please find below 4th quarter market statistics for Davis, Weber, Salt Lake, Utah, Tooele, and Box Elder Counties.

I am also including a link for you to be able to read an excellent article titled,

“Get Moving! 4 Urgent Reasons You Should Sell Your Home in 2017.”

http://www.realtor.com/advice/sell/reasons-sell-your-home-2017/

If you have any questions about the marketplace or if I can be of service to you or your friends and family, please let me know!

Thank you for being our client!

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1085 East 425 North, Ogden
February 2, 2017

Handyman special. Excellent floor plan with spacious rooms. Large master bedroom with master bath. Spacious family room with open feel. Large yard with pear, apple, cherry, plum and peach trees, and grape vines as well. It has a 2 car garage and the property is fully-fenced. This home will be amazing with some new carpet and paint.

Using the Internet in Your Home Search
August 18, 2016

To follow are insights on how to use the internet in your home search, and why it is important to have an experienced professional guiding you through the home buying process.

Using the Internet in Your Home Search

Home Maintenance Made Easy
April 19, 2016

Home maintenance is essential to preventing costly repairs.  This handy checklist will help you keep on top of home maintenance tasks so you can keep your home in great condition for years to come.

Home Maintenance Made Easy-1_Page_1Home Maintenance Made Easy-1_Page_2

Building Family Wealth Over The Next 5 Years
December 23, 2015

Family-Wealth

As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate.

For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road?

Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them to project how residential prices will appreciate over the next five years. According to their latest survey, here is how much value that $250,000 house will gain in the coming years.

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Over a five year period, that homeowner can build their home equity to over $40,000. And, in many cases, home equity is large portion of a family’s overall net worth.

Bottom Line

If you are looking to better your family’s long-term financial situation, buying your dream home might be a great option.

Prices & Mortgage Rates Going Up in 2016
December 4, 2015

Prices-Rising-KCM

The monthly mortgage payment on a home is determined by two elements: the price of the house and the interest rate you pay on your mortgage. Recently released reports are revealing that the experts expect both elements to increase in 2016.

HOME PRICES

CoreLogic has projected a nationwide 5.2% home value appreciation for the next twelve months. Here is their breakdown by state:

Prices-KCM.jpg

MORTGAGE INTEREST RATES

All four of the entities that provide projections on mortgage interest rates agree: they’re going up in 2016. Here are the predictions over the next four quarters:

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Bottom Line

With both home values and interest rates projected to increase over the next twelve months, buying (or moving-up), sooner rather than later, makes sense.

Millennials: What FICO Score is Needed to Buy a Home?
December 1, 2015

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In a recent article by the Wharton School of Business at the University of Pennsylvania, it was revealed that some Millennials are not looking to purchase a home simply because they don’t believe they can qualify for a mortgage.

The article quoted Jessica Lautz, the National Association of RealtorsManaging Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a mortgage and doesn’t even try. The article also quoted Fannie Mae CEO Tim Mayopoulos :

“I do think that there’s a sense out there in the marketplace among borrowers that credit may not be available, especially for people with lower credit scores.”

So what credit score is necessary?

A recent survey reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780.

In actuality, the FICO score on closed loans (as reported by Ellie Mae) is much lower and has been dropping over the last several months.

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Bottom Line

Millennials who are considering a home purchase should get advice from a local real estate or mortgage professional now. They may be surprised how much the requirements for a mortgage have eased.

Should I Wait to Put Down a Bigger Down Payment?
October 5, 2015

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Some experts are advising that first time and move-up buyers wait until they save up 20% before they move forward with their decision to purchase a home. One of the main reasons they suggest waiting is that a buyer must purchase private mortgage insurance if they have less than the 20%. That increases the monthly payment the buyer will be responsible for.

In a recent article, Freddie Mac explained what this would mean for a $200,000 house:

Difference-in-Percentage-and-20

However, we must look at other aspects of the purchase to see if it truly makes sense to wait.

Are you actually saving money by waiting?

CoreLogic has recently projected that home values will increase by 4.3% over the next 12 months. Let’s compare the extra cost of PMI against the projected appreciation:

PMI-vs-Appreciation

If you decide to wait until you have saved up a 20% down payment, the money you would have saved by avoiding the PMI payment could be surpassed by the additional price you eventually pay for the home. Prices are expected to increase by more than 3% each of the next five years.

Saving will also be more difficult if you are renting, as rents are also projected to increase over the next several years. Zillow Chief Economist Dr. Svenja Gudell explained in a recent report:

“Our research found that unaffordable rents are making it hard for people to save for a down payment … There are good reasons to rent temporarily – when you move to a new city, for example – but from an affordability perspective, rents are crazy right now. If you can possibly come up with a down payment, then it’s a good time to buy a home and start putting your money toward a mortgage.”

Laura Kusisto of the Wall Street Journal recently agreed with Dr. Gudell:

“For some renters there may be a way out: Buy a house. Mortgages remain very affordable.”

Mortgage rates are expected to rise…

Freddie Mac is projecting that mortgage interest rates will increase by almost a full percentage point over the next 12 months. That will also impact your mortgage payment if you wait.

Bottom Line

Sit with a real estate or mortgage professional to truly understand whether you should buy now or wait until you save the 20%.

Staging Your Home for Great Listing Photos
September 30, 2015

If you’re thinking of selling your home, here are some great staging tips.

Staging Your Home for Great Listing Photos