This wonderful Tooele Home sold for 155K. Close to Salt Lake County, but VERY affordable!
Welcome to my Blog
Monday, March 9, 2009
Sold, Congratulations!!
I want to throw out a Congratulations Travis and Brandi Jacobson for the purchase of their great new home! Also Congratulations to Mark and Michelle Egbert and The Gifford Family for the purchase of their previously Bank Owned homes. All of you got a great deal that will benefit you in a long term investment!
SOLD- Short Sale
This short sale in Eagle Mountain, finally got approved and sold for 227K! Looking to buy a short sale, let me help weed you through the process.
Monday, November 3, 2008
Thursday, October 9, 2008
FEDS Emergency Rate Cut
Global Banks Unite in Unprecedented Rate Cuts
Ben Bernanke and the Fed brought financial aid to the streets, lowering the Federal Funds Rate and Discount Rate by 0.50%. In an unprecedented emergency move, central banks across the globe joined in lowering interest rates.
This move follows Washington's passing of the $700 billion Rescue Plan. From Wall Street to Main Street, a common concern has been heard by Washington. "We need money... no, let me rephrase that...we need cheap money."
Rates Could Rise From HereHome loan rates have benefited from the weakness in the financial markets. Fixed rate mortgages remain very attractive. However, the Fed lowers short term interest rates to shore up financial markets. This could cause home loan rates to rise in the coming weeks and months if confidence returns to the stock markets.
ARM Holders Take Notice! Anyone that has an Adjustable Rate Mortgage (ARM), take note. The London Interbank Offered Rate (LIBOR) has soared from uncertainty in financial companies...And six million home loans in the United States are tied to LIBOR which determines the interest rate at the time of adjustment.
Ben Bernanke and the Fed brought financial aid to the streets, lowering the Federal Funds Rate and Discount Rate by 0.50%. In an unprecedented emergency move, central banks across the globe joined in lowering interest rates.
This move follows Washington's passing of the $700 billion Rescue Plan. From Wall Street to Main Street, a common concern has been heard by Washington. "We need money... no, let me rephrase that...we need cheap money."
Rates Could Rise From HereHome loan rates have benefited from the weakness in the financial markets. Fixed rate mortgages remain very attractive. However, the Fed lowers short term interest rates to shore up financial markets. This could cause home loan rates to rise in the coming weeks and months if confidence returns to the stock markets.
ARM Holders Take Notice! Anyone that has an Adjustable Rate Mortgage (ARM), take note. The London Interbank Offered Rate (LIBOR) has soared from uncertainty in financial companies...And six million home loans in the United States are tied to LIBOR which determines the interest rate at the time of adjustment.
Monday, August 11, 2008
Sold
Wonderful Home in desirable tree lined street. New windows with UV barriers, hardwood floors under carpets, basement entrance, HUGE 12X40 garage/workshop. 2 furnaces, big closets, Room downstairs that can be a den or excercise room, has window. Bring an Offer and get in this darling home! Easy to see, call for a showing!
Seller is an inactive agent, Agent is related to the seller
Seller Down Payment Assistance Outlawed
The Bush administration had pushed for risk-based pricing as part of a larger "FHA modernization" package that, in various proposals put forward by lawmakers in recent years, would also have reduced or eliminated FHA's 3 percent minimum down payment requirement.
Instead, Congress ended up raising minimum down payment requirements for FHA-backed loans to 3.5 percent. Also, beginning in October, home buyers will no longer be able to rely on nonprofits that funnel money from homebuilders into seller-funded down payment assistance programs, as HR 3221 finalizes HUD's long quest to end the practice.
HUD claimed the practice artificially inflates home prices and triples the likelihood of default. HUD's attempt to end the practice through an administrative proceeding was thwarted by legal challenges filed by nonprofits that operate assistance programs.
Now that Congress and the Bush administration have agreed to ban the practice through legislation, that battle appears to be over, and home builders expect to see the pool of eligible buyers shrink.
According to HUD, seller-funded down-payment assistance was used on more than 35 percent of all home purchase loans insured by FHA in fiscal year 2007, compared to less than 2 percent seven years earlier.
Home builder Lennar Corp. relied on down-payment assistance for one in three mortgages it originated in the second quarter, the Wall Street Journal reported. Housing research firm Zelman & Associates estimates that eliminating seller-funded down-payment assistance could reduce the homebuyer pool by 10 percent nationwide, and by up to 25 percent in lower-priced markets where they are used more often, the Journal said.
Instead, Congress ended up raising minimum down payment requirements for FHA-backed loans to 3.5 percent. Also, beginning in October, home buyers will no longer be able to rely on nonprofits that funnel money from homebuilders into seller-funded down payment assistance programs, as HR 3221 finalizes HUD's long quest to end the practice.
HUD claimed the practice artificially inflates home prices and triples the likelihood of default. HUD's attempt to end the practice through an administrative proceeding was thwarted by legal challenges filed by nonprofits that operate assistance programs.
Now that Congress and the Bush administration have agreed to ban the practice through legislation, that battle appears to be over, and home builders expect to see the pool of eligible buyers shrink.
According to HUD, seller-funded down-payment assistance was used on more than 35 percent of all home purchase loans insured by FHA in fiscal year 2007, compared to less than 2 percent seven years earlier.
Home builder Lennar Corp. relied on down-payment assistance for one in three mortgages it originated in the second quarter, the Wall Street Journal reported. Housing research firm Zelman & Associates estimates that eliminating seller-funded down-payment assistance could reduce the homebuyer pool by 10 percent nationwide, and by up to 25 percent in lower-priced markets where they are used more often, the Journal said.
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