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Buying your first home? , maybe your second, well this can be a wonderful experience for you or this could be a disaster. It all depends on how prepared you are when the process starts. Your first step is getting Pre-Approved.
Financing a home can be a difficult process for you, especially finding the right loan. What you need to be concerned about is not getting the financing, but getting the right financing. You will want to find the best terms at the lowest cost. You will want to meet with a loan officer to review your financing options; you will need to meet with a lender who can explain all of the different types of loans that you will be able to afford as well as the program that will help you meet your goals. Once you determine with the lender how much you can afford, you will be able to narrow down your housing search to a specific neighborhood.
It is very important to have a pre-approval letter from your lender when you make your offer on a home. Your pre-approval letter is not a final commitment for the loan, but it is a necessary step in order to look at homes with an agent. Some require, and some recommend it. It shows that you will have the ability to complete the purchase of a home. Otherwise, agents and sellers could think you are just wasting their time. Sellers do not want to get into the final hours before closing and find out that the buyer cannot get financing. Also, if you don't meet in advance with a loan officer, you could be rushed into making a decision about your financing without taking the time to think about what is best for you. It is a strain to try and get a lender and find a loan program once you have already found the house that you want to buy.
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Generally speaking the number one criterion a Mortgage lender considers when qualifying a Home Buyer for a mortgage loan is a good Credit Score. The higher the Credit Score, usually, the lower the Interest Rate. Other factors are obviously considered when determining the interest rate, but all lenders look at the Credit Score first. That being said, it is very important to understand how you maintain or improve your Credit Score before applying for a Home Loan.
There are no quick fixes for improving your credit score, but you can raise your score over time by demonstrating that you consistently manage your finances responsibly. Listed below you will find a number of tips that you should consider when attempting to raise your credit score.
· Pay your bills on time
· Keep your credit card balances low
· Pay off your debt, instead of transferring to another source.
· Maintain several credit cards, but manage them responsibly
· Don't open new credit card accounts that are unnecessary
· Shop for a loan within a short, focused period of time.
· Don't purchase a car just prior to, or during the home loan process.
· Contact your creditors or see a legitimate credit counselor when you have difficulties.
If you follow the steps outlined above, you should not have any problem getting the best possible interest rate when you apply for a new home loan.
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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.
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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!
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Sold price of Sandy homes increased last quarter. Median sold price went up 4.8% and average sold price increased 8.4%. On the other hand, the number of homes in Sandy that sold went down 12%. There is one year of active inventory and 738 homes listed. On average, homes are currently listed 25% higher.

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We recently purchased our first home in the Salt Lake area. In choosing a realtor, we considered several options, but ultimately chose to work with Benjamin Clark based on positive recommendations we'd received. Jonathan & Laura Tanner
Sandy, Utah
Buying a home in Salt Lake City or the Surrounding Area? Make sure you get an Agent on YOUR side of the transaction!
If you have excellent credit and will be buying a $300,000-$800,000 home in the next 90 days and would like an agent who will work exclusively for you, call us at (801) 969-8989 or contact us via the link on this page.
©2009 Homebuyer Representation, Inc. "The Real Estate Agents on the Buyer's Side" TM Exclusive Buyers Agents (EBA) - All Rights Reserved
Exclusive Buyer Brokerages do not list homes and never represent Sellers. Their agents represent Buyers ONLY on the Buyer's side of the transaction. They work to get BUYERS the Best Price and Terms when they Buy...
©2009 Homebuyer Representation, Inc. - Salt Lake City, UT
Exclusive Buyers Agents (EBA) - All Rights Reserved
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