Robert W. Bowen

When my friends need a recommendation on a restaurant I am usually the first person they call. I have eaten at almost every restaurant in Cache Valley and I consider myself a connoisseur of sorts. Occasionally I like to point out a few of my favorites.

• If you like good old fashioned hamburgers then you need to take a drive out to Richmond, UT and visit L.D.'s Cafe. This is one of my favorite places to eat in all of Utah. Everything about the hamburger is fresh and cooked to pure perfection.
  
• For the best sandwich in the valley Logan Heroes on Main St. in Logan makes a great one. They also have some of the friendliest service you'll find.
  
• Le Nonne in the heart of Historic Logan is a hidden jewel. They serve some of the finest Italian Cuisine in Utah. They are a bit pricey, but I feel it is worth every penny.
• Blackstone is a new restaurant in the old Deseret Industries building. They have been open about a year now. They also did a great job in the renovation of the building. This place has some great ambiance for a night on the town.
  

So the next time you are in Logan, Utah give these places a try. You won't regret it.

Robert W. Bowen is a professional REALTOR®with RE/MAX Excel in Logan, UT. You can contact him with questions through his website, www.RobertWBowen.com, or calling (435) 770-1352.

This morning I read a great blog from a real estate agent in Ogden, Utah that examines the Buyer Agency Agreement:

We've all had it happen before. As buyers we call to inquiry about a property and schedule a time to see the home later in the evening. When the appointment rolls around, we meet the friendly REALTOR for the first time. Prior to entering the house the agent whips out a two page contract and asks us to sign it before going inside. As buyers, we are caught off guard and very skeptical to sign anything at this point. So we either sign it or we don't, either way we don't place much value on it.Jared Wangsgard, TubeUtah Real Estate Blog, Oct 2008

Many buyers wonder what the purpose of the Buyer Agency Agreement is.  This is probably because most real estate agents do not take the time to appropriately explain the concepts of the agreement or the benefits.  

The Buyer Agency Agreement is designed to protect both the real estate professional and the buyer. 

As a buyer, when you sign the agreement you have hired the real estate agent to work for you as your agent.  Until this is signed the agent has no authority to negotiate on your behalf or to represent you. And why wouldn't you as a buyer want your own agent?  An agent is someone who acts on your behalf to serve your best interests.  Real estate agents have access to information about all properties for sale, they have knowledge about the area, and they can advise you on the necessary paperwork and contracts necessary to complete a transaction. 

I am asked all the time by first time buyers how much it costs to hire me as their agent.  Did you know that as a buyer you generally won't be responsible to pay the agents commission?  The agent who represents the seller has already negotiated a commission that the seller is willing to pay to have their home sold.  The listing agent will then offer part of that commission to the buyer's agent.   

An agent must have this document signed in order to receive compensation.  Many buyers are unaware that real estate agents are paid on commission.  Without having this document signed the agent does not get paid.  And if the agent isn't going to get paid he has no real incentive to help you find the best home. 

When you decide to buy a home it is wise to interview a few agents before you sign the agreement.  There are a lot of good agents to choose from.  You want to make sure that you feel comfortable having them represent you. 

To learn more about buyer's agents and how they can help you, feel free to contact me.  I hold regular home buying classes and I will also meet with you personally to answer any questions.  To register for the next class being held in Logan, Utah click here.

Robert W. Bowen is a professional REALTOR®with RE/MAX Excel in Logan, UT. You can contact him with questions through his website, www.RobertWBowen.com, or calling (435) 770-1352.

I was talking with one of my colleagues this morning and he told me of a guy he was speaking with yesterday. This client said he had wait to purchase a home because he didn’t quite have 20% for a down payment yet. Many consumers right now would like to purchase a home, but they are worried that they can’t get financing. So what’s the real story with getting a loan?

It’s true that banks have tightened up their lending procedures. What the news doesn’t tell you is who they aren’t lending to anymore. The root of the problem with the banks right now was caused by the subprime market. The subprime market was established for people who otherwise would not be extended credit.

What do you need to do to qualify for a mortgage loan?

• You need to have established credit and have a history of paying your bills on time.
• You need a satisfactory job history for the past 2 to 3 years.
• Your debt to income ratio shouldn’t be over 40%.
• You should have some money in the bank.

Obtaining a loan for a home is not out of your reach. The key is working with a good mortgage lender who is knowledgable about the many programs available that you could qualify for. If you have a desire to purchase a home you should start planning now. Your first step should be finding a good mortgage lender to review your finances and help you take the necessary steps to obtain an approval. Next you need to determine what your housing needs are and what you can afford.

As a real estate professional I know of mortgage lenders that can help you get a loan. Give me a call today and I’ll help you get a home buying plan in place. I also offer free home buying seminars regularly. The next one is this Friday, October 24, 2008 here in Logan, Utah. Click Here for more information or to register for the class.

Robert W. Bowen is a professional REALTOR®with RE/MAX Excel in Logan, UT. You can contact him with questions through his website, www.RobertWBowen.com, or calling (435) 770-1352.

I’m sure by now that almost everyone in the country has heard of the gloomy outlook on the national economy. After watching the news I don’t blame anyone for being scared about their financial future. So here comes some good news, yes I did say good news.

Yesterday on YAHOO! Real Estate, Brad Reagan and Elizabeth O’Brien wrote a great article that can give us all some hope after all of the bad news we’ve be inundated repeatedly with in the past year. The article, Home Prices: Now for the Good News, references seven of the markets that look best for a rebound. And guess what, Salt Lake City is among the list. What does this mean for you? Well, this can give you some added confidence in our local market. Here in Utah we haven’t seen the booms that markets like California, Arizona, Nevada, and Florida have seen. Therefore, we also haven’t seen the drop in home values that these markets have experienced.

Another added benefit to Utah’s economy is our strong and diverse job market. Utah has seen a steady gain of employment in the health care, education, and natural resource industries. The diversity in our economy has helped offset a decline in other industries.

So have we bottomed out? That’s quite a controversial question depending on who you ask. In my opinion if we haven’t bottomed out we are close to it. Now is a great time to invest in real estate. The real estate industry is a safe place for your money regardless of what the news may tell you. Remember, the news is focusing on the nation as a whole.

In the article Reagan and O’Brien reference, “David Berson, chief economist with mortgage insurance firm The PMI Group, says that if hard-hit states like California, Arizona, Nevada and Florida are taken out of the statistical mix, the picture is much more promising. According to PMI’s “risk index,” which estimates the odds of prices falling in a given market, at least 65 percent of the nation’s 386 metro areas have less than a 10 percent chance of seeing lower prices two years from now.”

That is a better guarantee than what the stock market is giving right now. Real estate has always been a safe investment for the long term. Yes, in the real estate industry we do have our ups and downs. Here in Utah we have not seen the out of the ordinary appreciation of homes in the past years, but we also are not depreciating. Our home appreciation is slow and steady. And if I remember correctly from my childhood days, didn’t the tortoise win the race against the hare?

Robert W. Bowen is a professional REALTOR®with RE/MAX Excel in Logan, UT. You can contact him with questions through his website, www.RobertWBowen.com, or calling (435) 770-1352.

For most Americans the American Dream is to own a home. Buying a home is a big step in anyone’s life. This is probably the biggest investment you will ever make and also the most rewarding. Although, we hear in the news almost daily of all of the foreclosures across the country happening. Were these people in foreclosure really ready to purchase a home when they did?

Buying a home is a big deal, so you should not treat it lightly. So here are a few tips for when you purchase a home.

• Purchase within your means. This is your first home. Don’t expect it to be everything that your parents have. This is the most important concept when buying a home. Do not spend more than you can afford.
  
• Understand the details of your financing. Many of the people facing foreclosure right now were in loan programs they didn’t understand.
  
• Plan on staying in the home for a few years. When you own a home you can’t pick up and move as easily as you could if you were renting. Before you purchase, consider what your future entails. If you plan on staying put then buying a home is a great investment.
  

There is a lot to know when you buy a home. I always recommend that people look seriously into it prior to making that first offer. I hold regular classes on the details of buying a home. The next class is scheduled for this coming Friday, October 24, 2008 at 6:30 PM. To register for the class, click here.