Riverton, UT

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.

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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.

For those clients that have asked for an analysis of Salt Lake Foreclosures & Short Sales in Riverton UT, this report should be of interest.

For those folks that are looking for information about foreclosed homes and short sales to build a case for the price in an offer this post will be helpful.

If you are looking for distressed Riverton homes for sale and what they are selling for, this analysis of Salt Lake Foreclosures and short sales is the latest word.

Enjoy.

Salt Lake Homes for sale in Riverton UT:

There are 267 Homes for sale in Riverton Utah as of 2/17/09.
That number only reflects homes listed on the Wasatch Front MLS.
Few Homes for sale by owner (FSBOs) are included.
70 of these listed homes have been listed in the last 30 days.
19 Riverton homes listed for sale have been sold in the last 30 days. (7%)
56 of the 267 listings (almost 21%) are either Bank Owned, Short Sales, or Foreclosed Houses.
Five of these distressed properties, (almost 10%) sold in the last 30 days.
That represents almost 25% of the homes sold.
Prices of the homes sold were between $184,900 and $399,900 dollars.
Average age of the Riverton houses sold was 4.5 years. (last 30 days).
Average listed price: $294,940 dollars.
Average sold price : $284,400 dollars.
Average percentage of discount 3.59%.
Average days on market, 177 DOM.

Short Sales & Foreclosed Homes Sold In Riverton Last 30 Days:

12904 S Grind Stone Cir, Riverton UT:
This is a short sale in the Western Springs subdivision in Riverton.
Listed $184,900 dollars.
Sold $213,700 dollars.
D.O.M. 137

2358 W Adalaide Dr, Riverton UT:
Short Sale in Country View Estates.
Listed @ $249,900.
Sold @ $247,500.
D.O.M. 62

11832 S 3770 W, Riverton Utah:
Short Sale in Merced Estates, Riverton UT.
Listed @ $275,000.
Sold @ $275,000.
D.O.M. 351

12144 S 3715 W, Riverton UT:
This home in Mcmillan Farms was a short sale.
Listed @ $365,000.
Sold @ $366,000.
D.O.M. 147

1342 W Semper FI Cir, Riverton UT:
Short Sale in Yost Meadows in Riverton UT.
Listed @ $399,900.
Sold @ $320,000
D.O.M. 187

There you have it. The update of homes sold in the last 30 days in Riverton,Utah that were either Bank Owned, Short Sales, HUD Homes, REOs or homes that for various reasons required the approval of a third party before title could change hands.

We hope this information has been of value.

For additional Real Estate Information about pre-foreclosures, or foreclosed homes for sale in Salt Lake give us a call @ 801-567-0946.

Or visit our website @ Salt Lake Real Estate.

From there you can search through thousands of Salt Lake Homes For Sale, or follow home buying information on our Real Estate Blog.

To access Foreclosed homes in Salt Lake go to our site @ SLC Foreclosures.

Thanks for visiting with us, and thanks for looking at This analysis Salt Lake Foreclosures & Short Sales In Riverton UT !