Build Equity and Save Money
Updated Oct. 9, 2013
Take a look at what happens when you refinance to a shorter loan term. If you have a rate of 5.00% or higher, you might want to consider shortening your loan term. What will this do? You will build equity faster, you will pay less interest and you will pay off your mortgage quicker. All good things to think about.. If you have...

Seller Concessions - Save Money Now and Over Time
Updated Oct. 9, 2013
What are "seller concessions"? Seller concessions are the seller contributing money from their proceeds to the cost of your closing. Many sellers will do it to "sweeten" the deal and make their home easier to sell.. Save Money NOWThe seller can legally pay up to 6% on some programs - 3 to 4 percent is standard. This...

New HARP Refinance Program
Updated Oct. 9, 2013
The President's announcement of a new refinance program will let borrowers refinance their home regardless of how far their homes have fallen in value. This program eliminates previous limits. The plan will also streamline the process by eliminating appraisals and extensive underwriting...

Secure Credit Card - A Way to Improve Your Credit Score
Updated Oct. 9, 2013
OK so you need to raise your credit score but all you have is bad credit. Getting new credit is almost impossible because new creditors and lenders are unwilling to give you a second chance. What do you do when you need to re-establish your credit, but can't get a credit card? You get a secured credit card.. What is a...

Salt Lake City - 3rd Healthiest Real Estate Market
Updated Oct. 9, 2013
Interesting video from Salt Lake Board of Realtors. Builder Magazine stated that Salt Lake City is the #3 healthiest housing market in the U.S. Also Moody's Analytics forecast a 4.7% increase in home price appreciation. With rates still so low - if you are thinking about buying you might want to think about it...

HARP 2.0 Being Rolled Out by Lenders
Updated Oct. 9, 2013
The new HARP 2.0 refinance program is finally being rolled out by a few lenders Utah and Salt Lake City. This is a program to help homeowners who might be underwater with their mortgage balance being higher than the value of their home.. Many lenders are having some challenges getting their guidelines formalized...

2011 Forecast for Utah Housing and Interest Rates
Updated Oct. 9, 2013
In the last months of 2011, every major indicator of economic health in the United States showed marked improvement: manufacturing, sentiment, holiday sales, e-commerce, inflation, and employment.. Utah continues to be a leading state in national employment growth. Over 30,300 jobs were added in 2011,...

Magic 8-Ball Forecast for 2012
Updated Oct. 9, 2013
Al's Magic 8-Ball Forecast by Al Lewis. Time for my annual economic forecast, which readers may recall, is something I do with my Magic 8-Ball, made in China by Mattel.. In last year's forecast, published Jan. 2, 2011, this cheap, plastic oracle beat out most economists.. It predicted oil would rise above...

Utah Mortgage Rates at all time Lows - Again
Updated Oct. 9, 2013
Today's Utah Mortgage Rates again are at all time lows! I have never, ever seen rates this low. I don't expect to have them stay this low. I have gotten emails from some lenders indicating they are repricing upwards. But don't worry - that upward moving will be minimal.. Today's Best Available...

Utah Mortgage Rates at all time Lows - Again
Updated Oct. 9, 2013
Today's Utah Mortgage Rates again are at all time lows! I have never, ever seen rates this low. I don't expect to have them stay this low. I have gotten emails from some lenders indicating they are repricing upwards. But don't worry - that upward moving will be minimal.. Today's Best Available...

New Harp Program coming March 1
Updated Oct. 9, 2013
The new HARP Program was outlined in the President's State of the Union address. This program is to help responsible borrowers refinance their homes at today's low rates - even if they are underwater with the loan to home value. The plan is to provide borrowers who are current on their payments the...

Real Estate Market in Salt Lake County Getting Better
Updated Oct. 9, 2013
Absorption rate in real estate denotes how long it would take to sell all the homes currently on the market, without any new inventory coming on board. It is not an exact science as supply and demand has lots of variables.. The general rule isBelow 6 months supply is considered a seller's marketAbove 6 months...

Getting the Lowest Rate Possible
Updated Oct. 9, 2013
Thinking about buying a new home in Utah or refinancing your existing home loan - then you are asking "Can I catch the the lowest possible rate and put more cash in my pocket.". Getting the lowest rate possible and locking your interest rate at the bottom is very much like selling a stock at the highest price - almost...

Improving Economy Moves Utah Mortgage Rates Up
Updated Oct. 9, 2013
It's officially official - the U.S. and Utah economy is improving! Well at least some of it - and in some parts of the country. Both the housing and jobs sectors are looking up. Stocks are extending their gain as the Dow moves towards 13,000 and a near 4 year high as optimism about a Greek bailout deal improves....

Update On Utah's Real Estate Market
Updated Oct. 9, 2013
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...

FHA Streamline Refinance Loans More Affordable
Updated Oct. 9, 2013
Today it was announced that FHA is reducing fees for FHA streamline refinance loans. In an effort to help families with FHA loans refinance and save. FHA is reducing both the up-front mortgage insurance premium and the monthly premium. FHA currently charges an up-front mortgage insurance premium of 1% of the...

On the Lighter Side
Updated Oct. 9, 2013
I have seen this before but got a chuckle out of it. Thought I would share - mainly because although it is funny it is sometimes so very true.. When it says: This is what it REALLY means:. MUCH POTENTIAL: Steer clear unless you have a lot of money!. UNIQUE CITY HOME: Used to be a warehouse. CONTEMPORARY: Lots if steel shelves...

Bad Day for Mortgage Rates
Updated Oct. 9, 2013
Yesterday mortgage rates moved higher at the fastest pace in months. The recent Best Available Rate range of 3.875% and 4.00% has been demolished and could get even worse if certain dominoes fall. Yesterday, rates were up to 4.25% for the Best Available Rate - but today they have eased a bit to 4.125%. Check out...

Much Anticipated HARP 2.0 Program Rolled Out Today
Updated Oct. 9, 2013
The much anticipated HARP 2.0 Refinance Program is now in effect here in Utah. It is a great program for home owners who have lost value in their homes and gives them the ability to refinance at today's low mortgage rates. There is a lot of misinformation out there about the program and I have seen lenders and loan...

Salt Lake Real Estate Showing Signs of Growth
Updated Oct. 9, 2013
The Salt Lake County housing market is starting to show signs of life. Read the whole story of why I think this and why it might be time for those sitting on the sidelines to start seriously thinking about buying a home.. Well, for one many of my clients are getting into multiple offer situations - for homes that are not...