Archive for November, 2007
Mortgage Rates In Salt Lake City
November 30th, 2007 Categories: Mortgage
Rates have come down and inventory is out there, that is a great combination for a buyer. There are deals out there.
Conforming mortgage rates mentioned below are considered with loan amounts up to $417,000 for a single family residence and is owner occupied. It is with proving your income and a “full document borrower”.
The rates quoted are based on a purchase price of $200,000 on a 30-day lock. On these conforming loans, there are no prepayment penalties involved.
|
Program |
Rate |
APR |
| 95% | 5.88 | 7.04 |
| 100% With Mort Insurance | 6.13 | 7.54 |
| 100% No Mort Insurance | 6.75 | 6.94 |
| My Community 100% | 6.50 | 7.43 |
| VA 100% | 5.88 | 6.05 |
| FHA 97% | 5.88 | 6.80 |
If you would like any additional scenarios done, please call for that information at 801-747-1233 and ask for Cindee or email to Cindee@CindeeStone.com
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Federal
November 29th, 2007 Categories: Architecture
Ubiquitous up and down the East Coast, Federal-style architecture dates from the late 1700s and coincided with a reawakening of interest in classical Greek and Roman culture. Builders began to add swags, garlands, elliptical windows, and other decorative details to rectangular Georgian houses. The style that emerged resembles Georgian, but is more delicate and more formal. Many Federal-style homes have an arched Palladian window on the second story above the front door. The front door usually has sidelights and a semicircular fanlight. Federal-style homes are often called “Adam” after the English brothers who popularized the style.
Source: Realtor.org
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Cottonwood Heights Trying To Decide Whether To Police Themself
November 28th, 2007 Categories: Real Estate News
The City Of Cottonwood Heights is trying to decide whether to create their own police force or continue to contract with the Salt Lake County Sheriff’s Office.
According to the City of Cottonwood Heights Web Site, there have been abuses of the contract and it seems they feel the city would be better served on there own. The reasons are the same as the reasons were to incorporate in the first place, to control how the taxes are spent.
Read all about it at the City of Cottonwood Heights Web Site
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FHA To Keep Their Loan Limits the Same
November 28th, 2007 Categories: Real Estate News
FHA has announced to keep their loan limits in place for the coming year 2008. The FHA maximum loan amount is 87% of the conventional loan limit of $417,000. Salt County falls into the 87% making the total loan amount for Salt Lake $362,790
There had been a lot of talking about raising the limits on the conventional amounts to adjust to the recent rise in home prices. Based on some articles by Peter G. Miller (Good Site) over at FHA Mortgage Guide, he talks about if loan limits go up when prices go up, then they should go down when prices go down. So in essence keeping them the same while in some markets prices are going down some is good for the housing market.
Click for a table of FHA Loan Limits for Utah Metro Areas.
| Discussion: 4 Comments »
Magna’s Famous Christmas Parade
November 26th, 2007 Categories: Magna
Saturday, December 1, 2007
Noon
Historic Magna Main Street
8400 West to 9150 West 2700 South.
The Jolly Ol’ Elf himself, Santa is flying in from the North Pole just to participate in our parade. He will be greeting the children and passing out candy at the end of the Parade at the Chamber Office, 9145 West 2700 South. Miss Magna Ashley Kelson & her Court, 1st Attendant Rachel Sellers & 2nd Attendant Sara Prokopis will be gracing the Magna West Bench Float redesigned by Misty Rowan, Rowan Art Murals for this special Holiday Tradition. They will also be joining Santa at the Chamber Office to greet the kids
The Magna Chamber of Commerce & Magna Community would like to give special thanks to:
Hank Hanssen, Kennecott Utah Copper
Lora V. Kinsman, Wells Fargo Bank
for 10 years of donating their time, efforts, resources, and talents to making this such a successful event.
The Parade Planning Committee would like to thank those organizations who have given of their time, effort, equipment, and funding, which make the parade possible each year:
Kennecott Utah Companies
ATK Launch Systems
Wells Fargo Bank
Brumback Trucking Magna Water District
Cyprus H.S. – PLT Magna Chamber of Commerce Board
Double D Trucking Salt Lake County Sheriff
Local 292 & Kennecott Retirees Salt Lake County Unified Fire Authority
Strickly Trucking
Parents:
Capture the special moment of your kids with Santa & support the Christmas Parade Tradition! Market Design Strategies, LLC & Rowan Art & Media will be onsite at the Chamber Office following the parade to photograph your little ones visiting with Santa for you to take home & treasure. Photos are $5.00 each and ALL proceeds will be donated to the 2008 Christmas Parade fund.
Click here to participate, volunteer or donate.
| Discussion: 1 Comment »
Why You Should Buy Salt Lake Real Estate Now
November 24th, 2007 Categories: Buying
Should Buy Real Estate Now.
There are some really good deals out there, interest rates are low. Remember the time to buy is when everyone else thinks it is not.
If you are thinking of retiring in five or six years, why not buy your one level living home now and lease it out and then you can sell your current home at tomorrow’s prices and buy at today’s price.
That way Y O U win all the way around.
Although the above is true, I needed to do my part for the big game today.
| Discussion: 1 Comment »
Giving Thanks
November 23rd, 2007 Categories: Real Estate News
3 Pounds Of Real Estate Is my Real Estate blog, so I thought I would share my Thanksgiving based on the real estate part of my life.
I feel so blessed to be a part of Keller Williams Realty. The leadership of this company is so generous and cares so much about the agent’s welfare that the consumers are the winners. Because of the market shifts around the nation Gary Keller and Mo Anderson the President and the CEO of KW have donated a million dollars of THEIR OWN money to educate their agents nationally to help them make the market shift. That generosity carries itself all the way through to the local agent.
Nationally- Agents Caring
Gary Keller, Kenny Loggins and Lcuky Fan
Kenny Loggins Concert Raises $200,000 for KW Cares
Hundreds of KW family members came out to show their support at the KW Cares Benefit Concert during Mega Camp. Along with a patio dinner, guests were entertained by a live auction featuring Mary Tennant, Mark Willis and Avis Wukasch. After the meal, guests were led upstairs to the One World Theater for an action packed rock concert featuring Kenny Loggins. Thank you to everyone who attended-your support made this amazing event happen!
The KW Cares Live and Silent Auctions that took place during Mega Camp raised $34,000! Featured items included guitars signed by the Executives and KWRI Staff, custom autographed Eric Johnson guitar, Tiffany’s Bracelets and numerous electronics. Thanks to everyone who donated and purchased items!
When Hurricane Katrina Hit KW agents in the region were pretty much shut down, offices were wiped out. Keller Williams Rallied around its family of agents. Our Midvale office (as countless other offices throughout North America) adopted three agents and we paid their immediate bills. They still had house payments, car payments and other expenses. Local office owners joined together to adopt an office and pay their staff salaries.
Utah Cares
Individual agents have contributed over $80,000 dollars to Utah Cares our Keller Williams Utah Regional non-profit group to help those with needs. That is not counting the money that has been giving through other means. I know of several thousands of dollars that have been donated that did not run through Utah Cares and we have over a 1,100 agent partners in the Utah Region, so I know that number is a lot higher.
While all the talking about how bad the market is, is starting to baffle me. As of November 1st, Keller Williams Realty has grown two new Market Centers this year, closed over a 1.1 Billion (with a B) Dollars in Sales Volume. My guess is that because the market has shifted a lot of brokerages are making cuts and doing take backs, that agents are joining our company to get some of that good loving of the leadership.
So I personally want to say thanks to
Gary Keller- Founder Owner Keller Williams International
Mo Anderson- Chair of the Board of Directors KWI and KW Cares
Lee Stern- Regional Director for KW Utah Region and my Team Leader
| Discussion: 5 Comments »
Dutch Colonial
November 23rd, 2007 Categories: Architecture
This American style originated in homes built by German, or “Deutsch” settlers in Pennsylvania as early as the 1600s. A hallmark of the style is a broad gambrel roof with flaring eaves that extend over the porches, creating a barn-like effect. Early homes were a single room, and additions were added to each end, creating a distinctive linear floor plan. End walls are generally of stone, and the chimney is usually located on one or both ends. Double-hung sash windows with outward swinging wood casements, dormers with shed-like overhangs, and a central Dutch double doorway are also common. The double door, which is divided horizontally, was once used to keep livestock out of the home while allowing light and air to filter through the open top. The style enjoyed a revival during the first three decades of the 20th century as the country looked back with nostalgia to its colonial past.
Source: Realtor.org
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Creole
November 19th, 2007 Categories: Architecture
The Creole Cottage, which is mostly found in the South, originated in New Orleans in the 1700s. The homes are distinguished by a front wall that recedes to form a first-story porch and second-story balcony that stretch across the entire front of the structure. Full-length windows open into the balconies, and lacy ironwork characteristically runs across the second-story level. These two- and three-story homes are symmetrical in design with front entrances placed at the center.
“Creole French,” a variation of the basic Creole design, came into vogue in southern states in the 1940s and 1950s.
Source: Realtor.org
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Homeownership Is Good For Literacy
November 18th, 2007 Categories: Real Estate News
Homeownership Is Good For Literacy
Usually when I say that homeownership is good for literacy the first reaction is. Oh boy this guy is a salesperson and I can’t wait to hear this. In fact homeownership is good for many things in society. It lowers unplanned teenage pregnancy, lowers high school dropouts.
This isn’t about being a salesperson. This is about being a real estate professional and having a heart for single moms and the things I come across while online.
The Impact of Homeownership on Child Outcomes
Donald R. Haurin, Toby L. Parcel, and R. Jean Haurin
Abstract
Does homeownership affect the outcomes of resident children? Using a national data set, we observed that children of homeowners have better home environments, high cognitive test scores, and fewer behavior problems than do children of renters. We find that these results hold even after controlling for a large number of economic, social, and
demographic variables. Owning a home compared with renting leads to 13 to 23 percent higher quality home environment, ceteris paribus. The independent impact of
homeownership combined with its positive impact on the home environment results in
the children of owners achieving math scores up to nine percent higher, reading scores up to seven percent higher, and reductions in children’s behavior problems of up to three percent. These findings suggest homeowners support programs should be targeted at households with young children.
Excerpts
“to investigate the effect of parental homeownership on the probability that a 17-year-old remains in school and that a 17-year-old female has given birth to a child. They find that parental homeownership reduces the probability of resident 17-year old children dropping out or giving birth”.
“Another argument is that homeowners tend to stay for a longer time in a dwelling than do renters and this greater stability increases the social capital of the household. Higher levels of social capital positively influence child outcomes.”
My three pound brain knows that children thrive on stability.
Have you ever tried fixing a sandwich for a three year old different then your spouse does or use a different dish? Or have you ever tried giving a two year old a different Sippy cup.
Now imagine changing schools every year or two. Children will spend more time trying to fit in and not being the new kid more than their grades. Then once a kid is even slightly behind it gets even more difficult.
How do single moms fit in this? Easy single moms tend to rent more than their married couples.
I work with single mother support groups. I have a program that where myself and my preferred lender work with a single moms and help them achieve homeownership. We get all the fees as low as we can and use our commissions to pay the already reduced cost and other moving related cost. Other scenarios are if the home needs carpet or other things like appliances. We will work the closing cost in the loan and then use our money after closing for these items.
So if you are a single mom or know of one, we can help. The mom still has to qualify for the loan, we can help with a plan for getting qualified and some other basic budgeting help. There are grant programs and other programs we are familiar with that can buyers, not just single moms.
| Discussion: 2 Comments »
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