Riverton, UT

Numbers for Riverton Real Estate were similar to the county average. 9 less homes sold, median price decreased 5.23%, and price decreased 11.52% on average. Inventory for Riverton homes is 7.29 months and there are 243 homes listed.

As a home buyer, it only makes sense to try and get the lowest rate possible when obtaining a Home Loan. After all, the rate is the primary factor in determining your house payment. But how do you get a low rate when applying for a home loan? This is the primary question that most home buyers want to know. I would like to explain some important ideas that you need to keep in mind.

Credit Score

One of the primary factors in helping to determine your interest rate is your credit score and financial history. In other words the best interest rates are usually reserved for those with the highest credit score. So if you credit score is not very high the chance of getting a lower interest rate is not very good. It is very important, that, prior to applying for a home loan, you pay all of your bills on time and that you do carry some line of credit so you can show the lenders that you pay your bills.

Type of Loan

Recently, I am sure you have noticed that the home loan market has taken a dramatic change. There are not nearly as many programs available as there used to be. Most banks require that the home buyer contribute more down payment. They feel that with the higher down payment , the buyer will be less likely to default on their loan. But there are still a few loan programs available, so make sure that your loan officer takes you through all the types of loans that you have available to you based on your financial situation.

Yield Spread Premium

The one factor that most home buyers are not familiar with is Yield Spread Premium. Yield Spread premium is usually disclosed to the home buyer in the good-faith estimate as being between 0% and 4%. The loan officer doesn't have to tell you the exact percentage, mainly because he/she does not know for sure, because rates are constantly changing. Most states are now required to disclose the final Yield Spread Premium on the closing documents. Make sure you understand this concept thoroughly prior to going to closing, because you could be real surprised if you don't. Avoid any problems at closing by having your loan officer explain this program in detail during the transaction. Yield Spread Premium is where most loan officers make the bulk of their commission. The balance comes from the Loan Origination fee. Most important, is become informed, ask many questions of your loan officer throughout the entire process.

Purchasing a home can be a wonderful experience, if you are not prepared prior to entering the process it can be a bad a one. Make sure you keep your credit in good standing, save up as much money as possible for a down payment and become informed and everything will go great. Good Luck.

Search Utah MLS

Utah County Homes AMP Mortgage Xpress Orem Real Estate Provo Orem Homes Provo Real Estate Utah Realtor Utah Homes Utah Homes For Sale Provo Real Estate WS Orem Real Estate WS Utah Homes 4 Sale Alpine Real Estate American Fork Real Estate Cedar Hills Real Estate Highland Real Estate Lehi Real Estate Pleasant Grove Real Estate Utah County Home Values Utah County Realtor Utah County Realtors Provo Realtor Provo Utah Real Estate Eagle Mountain Real Estate Mapleton Real Estate Payson Real Estate Saratoga Springs Real Estate Spanish Fork Real Estate Springville Real Estate Utah Best Rate Utah Home Loans Franklin D. Hulme, DDS Orem Real Estate, Provo Real Estate, American Fork Real Estate, Lehi Real Estate, Lindon Real Estate, Pleasant Grove Real Estate, Highland Real Estate, Alpine Real Estate, Eagle Mountain Real Estate, Saratoga Springs Real Estate Springville Real Estate, Mapleton Real Estate, Spanish Fork Real Estate, Cedar Hills Real Estate , Utah County Real Estate , Utah County Real Estate, Utah County Real Estate MLS, Utah County Homes MLS, Prudential Utah Real Estate, Loans MLS Search, Apply online, Utah County Real Estate Neighborhoods, Utah County Real Estate, Utah County Homes MLS,, Utah County Real Estate For Sale By Owner, Utah County Homes 4 Sale, Utah County Real Estate 4 Sale, Utah County Short Sales, Utah County Bank Owned, Utah County Short Sales UCRE, Utah County Bank Owned UCRE, AMP Xpress, Davis County Real Estate, Chandler Real Estate, Gilbert Real Estate, Mesa Real Estate, Tempe Real Estate, Queen Creek Real Estate, Gold Canyon Dentist, Mark Wilkinson, Tooele County Real Estate, Summit County Real Estate, Wasatch County Real Estate, Washington County Real Estate, Salt Lake County Real Estate, Weber County Real Estate, Springville Real Estate, Lehi Real Estate, American Fork Real Estate, Alpine Real Estate, Pleasant Grove Real Estate, Heber City Real Estate, Midway Real Estate, St. George Real Estate, Cedar City Real Estate, Park City Real Estate, Deer Valley Real Estate, Cache Valley Real Estate, Logan Real Estate, Brigham City Real Estate, Vernal Real Estate, Utah County Alpine American Fork Cedar Hills Eagle Mountain Highland Lehi Lindon Mapleton Orem Payson Pleasant Grove Provo Salem Santaquin Saratoga Springs Spanish Fork Springville Elk Ridge Davis County Layton Bountiful Farmington Centerville Clearfield Kaysville Salt Lake County Draper Holladay Kearns Midvale Murray Riverton Salt Lake City Sandy South Jordan South Salt Lake Taylorsville Summit County Park City Deer Valley Weber County Ogden North Ogden South Ogden Eden Roy Wasatch County Heber City Midway Cedar City Vernal Kanab Nephi Cache Valley Logan Brigham City Tremonton Washington County St. George Charleston

Search Arizona MLS

We need Positive Price Action to confirm market bottom. One month of price improve isn't sufficient to confirm the market bottom. We need to see appreciation month over month for three months.

PRICE ACTION

Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.

SUMMARY

Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom. This is NOT a good time for those with low and/or no risk tolerance to purchase.

High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.

Some are trying to time the market and market timing is risky. Trying to time the bottom is not for the inexperienced buyer and extremely difficult.

Those waiting for a market bottom confirmation will (almost always) miss the bottom. This is because confirming factors are lagging indicators.

Buy and hold is the best buying strategy.

Data considered accurate... However is NOT Guaranteed. Contact your Mark Watterson your Local Property Resource Specialist for the most up-to-date data and help to determine your specific risk tolerance.

_______________________________________________________________________________________________________________________________________

Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc. and a Utah license Loan Officer with Springwater Capital, LLC

Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties. View comprehensive property resource information at www.markwatterson.com

It's Not About the Money -It's about life long relationships that are based on Customer Service Excellence.

The "Voice of the Customer" is where it all begins. Customer Service Excellence is not just words. It's our CULTURE.

My customers refer their family and friends because of the exceptional attention to detail, customer focus and the value added services they receive. An unmatched passion and love for providing these services is the thread that binds the entire business process together making it a smooth and seamless event.

In fact it doesn't even seem like business. Because it's all about you, your goals and objectives.

You should expect the highest level of service and you deserve it. It's about you, the right property and your GOALS. YOU Deserve the BEST!

Riverton was pretty close to the average in the county as the number of homes sold went down 21%. Sold price of Riverton homes also experienced a decline like many other cities. Median sold price was down 8% and average sold price was down 4%. Active prices are listed for more than what homes sold for in 2008 and will most likely continue to decline.