Home Buyers-Our Team has the
experience to get the price and terms you want.
Provide resources for financing, home inspections,
contractors for repair bids, appraisers, tax
credits, and more! Take a tour of the Salt Lake City homes for sale
Home Search. Buying Salt Lake City
Real Estate couldn’t be easier. Remember you don't
have to be a first time buyer to get a tax credit.
Distressed Home Sellers
- Don't let
the bank take your property back. Find out your
options. Our short sale website:
www.utahteam.com
is one of the
most comprehensive websites for information on
Foreclosures verses Short sales. If you have
received a "NOTICE OF SALE" or if you are at the
point nearing the Auction date we may be able
to post pone your auction and Sale the home on a
Short Sale. Don't wait till it is too late
call for a confidential consultation. It's free!
Home Loans- We can provide a referral you to some of the
trusted Mortgage Professionals in our area.
Lenders that we have used for years and have used on
our own home.
We work
with several Seasoned Professional Mortgage Lenders.
If you have questions about qualifying for a loan
call us and we will match you up the right Lender
for your individual situation.
This Draper 2-Story Modern
was built in 2005 with 4
bedrooms and 4 bathrooms.
The home has 6,216 square
feet on a 0.36 acre lot.
Click here for more info.
This Herriman Rambler/Ranch
was built in 2005 with 4
bedrooms and 4 bathrooms.
The home has 5,656 square
feet on a 0.47 acre lot.
Click here for more info.
This Salt Lake City Bungalo/Cottage
was built in 1943 with 4
bedrooms and 2 bathrooms.
The home has 1,682 square
feet on a 0.14 acre lot.
Click here for more info.
This Taylorsville
Rambler/Ranch was built in
1988 with 4 bedrooms and 2
bathrooms. The home has
1,498 square feet on a 0.14
acre lot.
Click here for more info.
This Cedar Hills 2-Story
Conventional was built in
2004 with 5 bedrooms and 4
bathrooms. The home has
4,473 square feet on a 0.48
acre lot.
Click here for more info.
FHA
announced 1-19-2010 new guideline
changes as follows:
Upfront MIP will go from 1.75 to 2.25
If
Fico is below 580, max LTV is 90% (oh
really, is anyone doing FHA with ficos
below 620?)
Max
Seller contribution is dropping from 6%
to 3% (this will be an issue for our
builders—please make sure we don’t have
any in-process construction loans that
need the 6% concession)
HUD TAKES ACTION TO SPEED
RESALE OF FORECLOSED PROPERTIES TO
NEW OWNERS Measure to help bring stability
to home values and accelerate sale
of vacant properties
WASHINGTON -
In an effort to stabilize home
values and improve conditions in
communities where foreclosure
activity is high, HUD Secretary
Shaun Donovan today announced a
temporary policy that will expand
access to FHA mortgage insurance and
allow for the quick resale of
foreclosed properties. The
announcement is part of the Obama
administration commitment to
addressing foreclosure. Just
yesterday, Secretary Donovan
announced $2 billion in
Neighborhood
Stabilization Program grants
to local communities and nonprofit
housing developers to combat the
effects of vacant and abandoned
homes.
"As a result
of the tightened credit market,
FHA-insured mortgage financing is
often the only means of financing
available to potential homebuyers,"
said Donovan. "FHA has an
unprecedented opportunity to fulfill
its mission by helping many
homebuyers find affordable housing
while contributing to neighborhood
stabilization."
With
certain exceptions, FHA currently
prohibits insuring a mortgage on a
home owned by the seller for less
than 90 days. This temporary waiver
will give FHA borrowers access to a
broader array of recently foreclosed
properties.
"This
change in policy is temporary and
will have very strict conditions and
guidelines to assure that predatory
practices are not allowed," Donovan
said.
In today's
market, FHA research finds that
acquiring, rehabilitating and the
reselling these properties to
prospective homeowners often takes
less than 90 days. Prohibiting the
use of FHA mortgage insurance for a
subsequent resale within 90 days of
acquisition adversely impacts the
willingness of sellers to allow
contracts from potential FHA buyers
because they must consider holding
costs and the risk of vandalism
associated with allowing a property
to sit vacant over a 90-day period
of time.
The policy
change will permit buyers to use
FHA-insured financing to purchase
HUD-owned properties, bank-owned
properties, or properties resold
through private sales. This will
allow homes to resell as quickly as
possible, helping to stabilize real
estate prices and to revitalize
neighborhoods and communities.
"FHA
borrowers, because of the
restrictions we are now lifting,
have often been shut out from buying
affordable properties," said FHA
Commissioner David H. Stevens. "This
action will enable our borrowers,
especially first-time buyers, to
take advantage of this opportunity."
The waiver
will take effect on February 1, 2010
and is effective for one year,
unless otherwise extended or
withdrawn by the FHA Commissioner.
To protect FHA borrowers against
predatory practices of "flipping"
where properties are quickly resold
at inflated prices to unsuspecting
borrowers, this waiver is limited to
those sales meeting the following
general conditions:
All
transactions must be
arms-length, with no identity of
interest between the buyer and
seller or other parties
participating in the sales
transaction.
In
cases in which the sales price
of the property is 20 percent or
more above the seller's
acquisition cost, the waiver
will only apply if the lender
meets specific conditions.
The
waiver is limited to forward
mortgages, and does not apply to
the Home Equity Conversion
Mortgage (HECM) for purchase
program.
Specific
conditions and other details of this
new temporary policy are in the text
of the waiver, available on
HUD's website.
Residential Real Estate both
with buyer and sellers. Along
with investment, land and new
construction. As a past home
builder, We are experienced with
all levels of
foreclosure
assessment. Our team can handle
all facets of foreclosure
situations including, Cash for
keys, trash outs, Tenant
Negotiations, Utility change
over's, property preservation,
occupancy reports, 48 hour BPO
turnaround times,
Pre-Foreclosure and
Short Sale.
Martin &
Laurie Gale
Your REO and Short Sale Team!
Utah Team -
RE/MAX METRO REO - Utah
801-205-3500 - Toll Free 877-898-9502 - fax
801-327-3245
The
above brokerage assumes no responsibility nor
guarantees the accuracy of this information and
is not engaged in the practice of law nor gives
legal advice.
It is strongly recommended that you seek
appropriate professional counsel regarding your
rights as a homeowner.
We're Fair Housing Providers. Each RE/MAX Office
Independently Owned and Operated.
Free Market
Evaluation Salt
Lake City
- What is my home
Worth? 48 Email Turn
around on most
Market Evaluations,
Good in the State Of
Utah. House Value
Market Estimate.
Salt Lake City
Relocation Info
- Relocating to Salt
Lake This link will
provide Housing
tips, school
information,
demographics,
Hotels, Restaurants,
Housing for sale.
Search For
Properties in Salt
Lake City
- All Surrounding
Cities in the Salt
Lake Metro Area,
including the
following Counties:
Salt Lake, Utah,
Davis, Tooele,
Weber.
Realtor in Salt Lake
City
- Re/Max Metro
Realtor with 20
years experience in
servicing the Salt
Lake City, Park City
areas. Home Buyer
and Home Seller
Information.
Statewide Relocation
information for
relocating to Utah.
Free List of Homes
in Salt Lake City
- Online list of
homes with prices
and addresses.
Hassle free Buyers
Agent services. List
E-mailed to you
Directly. 1000's of
homes for sale.
All about Salt Lake
City
- Links to area
demographics,
government,
restaurants,
lodging, schools and
universities.
On-line relocation
information about
Salt Lake City Utah.
Home Buyer Seminar
- On-line
interactive home
buying seminar.
Learn what to do the
save thousands on
your home. Learn
financing techniques
to lower you monthly
payments. Learn how
to by a home with no
down payment. Grants
for first time home
buyers. Order a
free cd-rom to keep
and watch off line.
Home Seller Seminar
- On-line
interactive home
selling seminar.
Free cd-rom for
available and mailed
to you! Learn what
it takes to properly
market your
property. Sell your
home fast and at top
dollar. Expired
listing ? Find out
why your home did
not sell. Hints for
Sellers including:
Painting, staging,
interior and
exterior fix up
tips.
Ask an Expert
- Questions about
real estate? E-mail
us your question.
Prompt private and
confidential turn
around. Email
addresses are kept
confidential and are
not sold or given to
other parties.
