Gov. Herbert announces second round of Home Run grants!
The Home Run program that provided grants to buyers of newly constructed, never-occupied homes has been reinstated, Gov. Gary Herbert announced on Friday. The reinstated program will provide $4,000 grants to approximately 1,950 buyers. The grants will be awarded on a first-come, first-served basis to buyers who apply for the funds through their Utah Housing Corporation-approved lender by Nov. 30.
Unlike the original program that was only available for homes that were ready for occupancy upon closing, Home Run 2 allows buyers to receive grants for homes that will be constructed, are currently under construction or are move-in-ready but have never been occupied.
Buyers can apply for the funds through a Utah Housing Corporation-approved lender. Once the application is complete, Utah Housing will issue a grant commitment. For purchases of move-in ready homes, the commitment will expire after 10 days. For homes under construction, the commitment will be in effect until June 30, 2010, giving the builder plenty of time to complete the home.
Although the program is not limited to first-time home buyers, there are income restrictions. For singles, incomes cannot exceed $75,000, and married couples cannot have incomes greater than $150,000. For more information about the program and to find a UHC-approved lender, visit http://www.UtahHousingCorp.org and look for the Home Run 2 link.
Utah Housing Corporation launches program to monetize home-buyer tax credit!
Home buyers who use a Utah Housing Corporation loan can now use the first-time home buyer tax credit to help with their down payment and closing costs through a new monetization program called Equity Now. Under the program, home buyers will take out a first and second mortgage, which can be up to 6 percent of the first mortgage amount. Because the first-time home buyer tax credit funds are not available before a home purchase, the second mortgage will help pay for down payment and closing costs the buyer likely would have paid for with the credit.
After closing, qualified buyers will file an amended 2008 tax return to receive the tax credit. For buyers who put the full tax credit amount toward their second mortgage (up to six months after closing), Utah Housing Corporation will credit $100 to the second mortgage. For many borrowers, the tax credit will provide near-instant equity by substantially lowering or even eliminating the second mortgage balance.
To learn more about the program and eligibility requirements, visit www.UtahHousingCorp.org or talk to a UHC participating lender.
Sandy city rolls out home-buying incentive program!
Sandy city has created a new program that will provide low- and moderate-income home buyers with a $5,000 incentive for buying a new home in the city. The funds, which can be applied to down payment and closing costs, are in the form of an interest-free loan that becomes a grant after the home buyer has lived in the property three years.
Sandy plans to provide 10 loans to buyers of existing, never-occupied homes, and another 10 to buyers of to-be-constructed homes. The properties must be within Sandy city limits, must be "single-family dwellings," including townhomes and condos, and must not have purchase prices exceeding $305,000. Household incomes must be below certain limits to qualify, but the program is open to both first-time and repeat buyers.
Funding for the program comes from a portion of the tax revenue collected from the commercial buildings around City Hall, said city spokeswoman Trina Duerksen. If successful, the program may receive additional funds after the original 20 loans are awarded, she said. So far, all 20 loans are still available.
Housing affordability sees big gains in Utah metro areas!
Utah real estate is seeing big affordability gains, according to a new report from the National Association of Home Builders and Wells Fargo. Numbers from the analysis show affordability in many Wasatch Front areas is back to levels seen in 2004, a time when Utah real estate was selling well and National City Corp. said Salt Lake had the most undervalued home prices.
The Housing Opportunity Index, which uses incomes, mortgage rates and home prices to determine affordability, is similar to a separate analysis conducted by Salt Lake City-based Wells Fargo economist Kelly Matthews. He says although average home prices are still higher today than in 2004, homes are about as affordable as they were five years ago because mortgage rates are closer to 5 percent rather than the near 6 percent rates in 2004.
Such is the case for the Provo-Orem area, which saw the biggest affordability gains in the state, according to the NAHB/Wells Fargo report. In the second quarter, 71.3 percent of the homes sold were considered affordable, only a tad off the 72.6 percent in 2004 and up significantly from the 48.5 percent last year.
Similarly, in Salt Lake, 70.6 percent of homes sold were considered affordable to those earning the area's median income, close to the 75.2 percent in second quarter 2004 and up considerably from the 54.6 percent in 2008, according to the NAHB/Wells Fargo report. St. George had the lowest affordability in the state at 57.2 percent (up from 36.8 percent last year), and Ogden-Clearfield had the highest affordability at 81.5 percent (up from 68 percent last year).
"If someone feels secure in their employment and income and needs a larger home, in actuality it's probably the best time to buy in a generation," Matthews said.
Wasatch Front home sales up for second consecutive month!
Sales of existing Wasatch Front homes were up for the second consecutive month, rising 4 percent in July, while Utah County sales increased by a whopping 22 percent, according to statistics released by the Utah Association of REALTORS® Aug. 25.
In July, Salt Lake, Utah, Davis, Weber and Tooele County REALTORS® sold 2,352 single-family homes, townhomes and condominiums compared to the 2,261 properties sold in July 2008. In Utah County, REALTORS® sold 566 existing homes compared to the 465 homes sold last year.
The statistics mirrored figures released by the National Association of REALTORS® that said U.S. home sales were up 5 percent in July compared to July 2008. On a monthly basis, U.S. seasonally adjusted home sales increased 7 percent, the first time in five years that sales increased for four months in a row.
Along the Wasatch Front, sales were down 6 percent from June to July; however, the decrease was expected because sales are traditionally slower in July and the Utah statistics are not seasonally adjusted.
The median price of homes in the five-county area in July was $205,000, down 6 percent from last year. In a separate report, the Federal Housing Finance Agency said Utah home prices decreased nearly 12 percent for the second quarter.
Weekly mortgage watch: Rates at lowest levels since May!
Interest rates on long-term home mortgages were at their lowest levels since the final week in May, according to Freddie Mac's latest survey. For the week ending Thursday, rates on 30-year, fixed-rate mortgages averaged 5.08 percent, down from last week's average of 5.14 percent and up from the 4.91 percent average reported in May, according to the Primary Mortgage Market Survey.
"Bond yields pushed mortgage rates slightly lower this week," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. "Low mortgage rates are helping to keep housing very affordable. As a result, pending sales of existing homes rose for the sixth straight month in July, a trend not seen since [the National Association of REALTORS®] began reporting data in 2001."
National Mortgage Averages - Sept. 3, 2009
Source: Freddie Mac's Primary Mortgage Market Survey
Rates Up/Down
Average Rates Last Week
Average Rates This Week
Average Points
30-Year Fixed
Down
5.14
5.08
0.7
15-Year Fixed
Down
4.58
4.54
0.6
5-Year ARM
Down
4.67
4.59
0.6
1-Year ARM
Down
4.69
4.62
0.6
GENEIE MCINTOSH- YOUR FRIEND AND FAVORITE UTAH REAL ESTATE PROFESSIONAL!
http://www.GeneieMcIntoshRealtor.com
YOU ARE INVITED! COME ONE COME ALL TO MIDWAY SWISS DAYS- SEPT 4TH-5TH
IN THE BEAUTIFUL SWISS VILLAGE OF MIDWAY, UTAH!
HISTORICAL TOWN SQUARE- 200 W MAIN STREET MIDWAY, UTAH
FOOD, FUN, ARTS & CRAFTS, ENTERTAINMENT! BOOTHS OPEN 8AM-8PM
THE PARADE STARTS AT 10:00AM/ 200 EAST MAIN STREET
HOPE TO SEE YOU ALL THERE!
THE SPICY LADY- HEBER CITY, UTAH
LIVE DINNER MUSIC IN NOVEMBER!
Spicy Lady- 4 times Grammy nominee Richard Souther Jazz Piano.
Fridays, Saturdays 7:30p.m.
Located: 139 N Main Street, Heber City, Utah
(435) 654-4288 www.SpicyLady.net
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14TH ANNUAL- HEBER CITY'S COWBOY POETRY GATHERING & BUCKAROO FAIR!
NOVEMBER 4TH- 9TH
Nine main Cowboy Poetry Shows and many other events.
Info/ tickets at www.HeberCityCowboyPoetry.com
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TIMPANOGOS VALLEY THEATRE'S "OKLAHOMA"!
NOVEMBER 6TH-8TH, 13TH-15TH TIME: 7:00 P.M.
Presented at: Midway Town Hall- 104 W Main Street, Midway, Utah
Don't miss this classic production put on by the Timpanogos Valley Theater, at the Midway Town Hall. Tickets are available at Day's Market 435-654-2352. Adults $12, and children $8, 435-654-6406, www.TVtheater.org
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NOVEMBER 7TH- Couples' Date Night with River Meadows Ballet. Bring your partner for a night of Ballroom dancing. Call 435-654-2829 for more info and to reserve your spot!
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NOVEMBER 7TH, 14TH, 23RD- Ballroom Dance Class at Wasatch Dance Center. First class is FREE! Call 435-657-2455 for reservations.
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HEBER VALLEY RAILROADS- POLAR EXPRESS!
Polar Express Christmas Train
| NOVEMBER 21RST-DECEMBER 23RD |
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NOVEMBER 29TH- 30TH- Messiah Sing-In, 7:00p.m. by Timpanogos Valley Orchestra and Chorus. All in vited! November 29th at UVU Wasatch Campus; November 30th at LDS Church 550 E. 500 N. Heber City. (Call 435-785-8219 to participate in orchestra or back-up chorus)
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UPCOMING EVENTS:
MIDWAY FOUNDATION FOR THE ARTS- "A CHRISTMAS CAROL"
DECEMBER 12TH, 13TH, 18TH, 19TH, 20TH, & 22CD-A Christmas Carol, the Musical"
Tickets available starting November 1rst- Info and tickets at www.MidwayArts.org and Day's Market. Dinner Show/ Fundraiser- December 18th, sells out early. Don't miss this Christmas experience!
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OTHER CHRISTMAS EVENTS:
A Small Town Christmas Comes to Midway and Heber
Don't miss the Christmas cheer surrounding Midway and Heber City's Small Town Christmas events. From Midway's Swiss Christmas, interfaith Creche Exhibit, and Cottages for the Children Gingerbread Display and Auction, to the family-friendy ride on the Polar Express. Ebeneezer Scrooge and "A Christmas Carol" is the final event of A Small Town Christmas. Don't miss it!
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HOPE TO SEE YA ALL AT THESE EVENTS! BE HAPPY- BE SAFE- BE BLESSED!
YOUR FRIEND, GENEIE MCINTOSH
Heber Valley Historic Railroad
HeberValley Railroad has a unique history that dates back to 1899, when it carried sheep, hay, cattle, sugar beets, and passengers from Heber City to Provo.
Now visitors can take a delightful trip down the scenic Provo Canyon to Vivian Park or enjoy a special event train ride. Along the way see Mt. Timpanogos, Cascade Mountains, Deer Creek Dam and reservoir, Provo River, Sundance Ski Resort, Tate Barn, and Soldier Hollow. Keep an eye out for wildlife- elk, deer and mountain goats inhabit the canyon. The train operates year- round and features special event train rides like Thomas the Train, the Polar Express, and much more.
For more Information visit their web site: www.hebervalleyrr.org
(Taken from Heber Valley- Official Guide-Summer 2008 Issue)
YOU ARE INVITED! COME ONE COME ALL TO MIDWAY SWISS DAYS- SEPT 4TH-5TH
IN THE BEAUTIFUL SWISS VILLAGE OF MIDWAY, UTAH!
HISTORICAL TOWN SQUARE- 200 W MAIN STREET MIDWAY, UTAH
FOOD, FUN, ARTS & CRAFTS, ENTERTAINMENT! BOOTHS OPEN 8AM-8PM
THE PARADE STARTS AT 10:00AM/ 200 EAST MAIN STREET
HOPE TO SEE YOU ALL THERE!
I am committed to helping BUYERS & SELLERS in the Salt Lake, Wasatch, Summit, & Utah Counties of Utah. YOU CAN COUNT ON ME TO ALWAYS DO WHAT'S IN YOUR BEST INTEREST! Referrals Always- Welcomed!
Having the right Real Estate Agent means having an agent who is committed to helping you Buy or Sell your home with the highest level of expertise in your local market. This means also to help you in understanding each step of the Buying or Selling process. This commitment level has helped me build a remarkable track record of delivering results!
Nothing is more exciting to me than the gratifying feeling I get from helping people meet their real estate needs. You can count on me to always do what's in your best interest. I pride myself on being honest, trustworthy, and knowledgeable in the real estate market. I know how important it is to find your dream home or get the best offer for your property. Therefore I will make it my responsibility to help you achieve those goals!
Please feel free to visit my website: www.GeneieMcIntoshRealtor.com
CHECK OUT MY FEATURED LISTINGS OR SEARCH THE UTAH MLS'S FOR FREE!
MY REAL ESTATE PHONE LINE IS NOW OPEN SO HURRY AND CALL ME TODAY:
(801) 792-9288 GENEIE MCINTOSH- YOUR FAVORITE REAL ESTATE AGENT!
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I'M GENEIE & "I WANT TO BE YOUR FAVORITE REAL ESTATE AGENT!"
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MY WONDERFULLY BLESSED FAMILY! OUR BEAUTIFUL HOME IN MIDWAY!
