I think that most people are familiar with the idea of a down payment when buying a home. However, there are other costs associated with the first year of home ownership that are not always common knowledge, so I wanted to share a few today. TAXES. The only sure things in life are death and
Home values have gone up in Utah recently- a lot! 38% in the last five years, to be precise. Your homeowner’s fire insurance, however, isn’t based on the value of your home, but on the cost it would be to rebuild it if it were to burn down. These costs are based on construction costs,
To find out where the housing market is and what it is doing right now (January 2020), I pulled up the market conditions from January 2019 to compare them to our current ones. Fewer homes were listed this year at this time than January 2019- 18% fewer, to be specific. Fewer homes being sold means
If you are looking to buy a home and hire a Realtor, you might wonder who would pay the Realtor’s fee. The answer is that when someone sells a home, they give a set percentage of the price of the home’s sale to their Realtor. The Realtor puts the home on the MLS (multiple listing
2019 year in review!! Just for fun, here are some real estate statistics about 2019!! Interest rates: The highest was 4.4% on January 31st. The lowest was 3.6% on August 15th. 27,758 homes sold in Utah and Salt Lake counties in 2019. The cheapest home sold in Utah and Salt Lake counties was a trailer
Do you want to flip homes? Let me just start by saying, you’d better know your numbers. Right now, we have a wholesaling phenomenon going on. A wholesaler will find a very cheap home, then blast it out to as many people as possible to get it sold. For one example, I found a wholesaler
Why are real estate agents important? Well, rather than answer that directly, I’d like to give you some facts and scenarios and allow you to draw your own conclusions. To start off with, 75% of real estate related law suits happen when one or both of the parties are unrepresented in the sale of the
FHA loans are money that is lent through the government and there is a limit to what they are willing to lend in different areas. At the start of 2020, FHA loan limits were raised to $401,000, which means that you can get a loan for up to that price when using an FHA loan.
Buying a house is a huge commitment and it’s natural to have some hesitations and nervousness. Today, I want to address some common home buyers fears and some fixes of how to best address them. Fear #1- Being Locked into a Home you Don’t Want Some buyers, especially first time home buyers, are wary of
Mortgage insurance is required by banks if you have less than 20% down in cash for a down payment. This fee is rolled into your monthly payment. It covers potential risk of default, as those who don’t have 20% down in cash are a higher liability to the bank. It does not mean that if