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Why De Lay? Call Babs TODAY!
Babs De Lay
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Copyright © 2009 Realty Times
All Rights Reserved.
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Vital Information For
First-Time Buyers
The first-time homebuyer Federal tax credit for $8000, record-low interest rates, and nationwide median home prices dropping to the lowest point in five years, makes this an enticing time to consider buying a home. By the way, that tax incentive isn't truly just for first-time buyers -- it's defined as those not having owned a home in the last three years. Research and knowing your options are critical. Check with your tax accountant for more details. It’s increasingly likely that Congress will extend and expand the popular home buyer tax credit, which will expire at the end of this month.
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According to an article in August in the Raleigh News & Observer, 10.8 percent of buyers are motivated to buy due to Federal and state tax incentives. So far only 1.14 million buyers have filed
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Relieving the Stress of Packing
Packing can be stressful time for every member of the family. To ensure that your move goes as smoothly as possible, try the following tips!
Pack a "Red Box"
Since one in five American families moves every year, that means 22 million families may be searching for their TV remote controls!
One of the pitfalls of packing for a move is you can't always anticipate what you'll need when you arrive at your new home, and movers typically list only the obvious such as dishes, glasses, bedding, etc. The miscellaneous items you need in the first few hours invariably wind up on the bottom of a random box.
To start, you may want to create your own "red box" as some moving companies ("Removers") do in Great Britain. This is the last box loaded and the first one off the truck. The one universal item in the red box is the tea kettle (perhaps this would be the coffee maker in the U.S.). This is also the place
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Making Your Home Age Appropriate Creates Appeal
All of us have something in common with our homes. Sure, style, design, and location are at the top of the list, but how about age? As we age, buyers, especially the baby boomer generation, are looking to transform their homes into a place that they can stay in for as long as possible or they're hoping to find one that's already equipped for them to age-in-place.
So how old your home and you are, are reason to give some thought to if your home needs age-appropriate adaptation in order for you to be most comfortable. And, in doing so, you may actually make your home more valuable to a wider audience of buyers, should you ever sell it.
According to the National Homebuilders Association, making a home suitable for the golden years is economicaly sound. The baby boomer generation (77 million people) makes up 28 percent of the U.S. population. Assisted living for this generation can cost more than $60-thousand per year, not counting moving expenses.
That's pretty pricey. So, if you've taken some steps to make your home an age-in-place sanctuary, then make sure you highlight those renovations if you ever
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See Virtual Tours of MY LISTINGS at urbanutah.com !!!
At urbanutah.com I use VIRTUAL TOURS of my listings to give you a real idea of what the property looks like inside and out. Go to my website and check out all the links for not only property views, but great information on lenders, services, etc.
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Why Spring Can Really Mess You Up The Most!
This last year has seen drastic changes in most of the standard ideas about real estate sales and purchases, in good and bad ways.
In the past, home sales would start to slow as the year draws to an end because people don’t want the hassle of showing their homes during the holidays. Funny thing is, December is traditionally one of the four best months for sales because many people want to close on their homes by the end of the tax year. Sellers are motivated by year end tax savings.
After 25 years in business, my crystal ball is pretty accurate when it comes to real estate and as I look into the future I see home prices in some areas of Utah going down further in the next six months and interest rates going up. Why? Mainly because majority of foreclosures that have been taking place in Utah have not yet gone on the market. Banks that have foreclosed on properties this summer and fall will be supposedly dumping their properties onto the open market at the first of the year. The banks (after six months of the legal foreclosure process) get properties back and then must figure out how to sell it and who’s going to sell it for them. That means the inventory of homes for sale will continue to go up for a while, making it a buyers market. And, that means prices (with more competition) will come down more.
Donald Trump (comb over guy and bazillionaire) was recently asked, “What are you doing in this real estate market?” He responded something like…”Only idiots aren’t buying property right now.”
Professional buyers (investors) are out there in droves, purchasing homes and income property with cash. First time buyers are also out in droves wanting to take advantage of stimulus monies and low interest rates.
People looking to buy a home during the next few months are very serious buyers. So when a potential seller tells me they think they will put their home on the market in the Spring, I tell them to think twice: prices may fall farther and interest rates may go up.
When interest rates go up it kicks some buyers out of the market because they can’t qualify. I worked with one seller this summer who had a townhome for sale. She saw the value drop over $5000 per month in four months. When she did get a good offer she refused to take it or even counter it. Now the properties around her are selling for $175,000…when she could have sold for $199,000.
I recommend to buyers in Utah to purchase a home during November, December or January because Utah is COLD in the winter and they will get an idea how the house feels in the deep freeze. Is there wind blowing through the window sills and around the doors? Does the furnace heat the home well? How does the roof look with all the ice dams on it? Do you want to shovel that long of a drive way?
Don’t let Spring mess you up. Get your home on the market if you’re a seller, and start lookin’ if you’re a buyer!
Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Babs De Lay, Principal Broker ABR,CRS,SRES,DREI,LTG
E-mail: babs@urbanutah.com
Web: http://www.urbanutah.com
801.595.UTAH
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Urban Utah Homes and Estates
801.595.UTAH
At the DAKOTA BUILDING
Across from the Gateway Mall
at: 380 West 200 South #104/204
Salt Lake City, Utah 84101
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Equal Housing Opportunity
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