Spanish Fork, UT

Utah County Real Estate and the Home Inspection

Well, you just made an offer on a beautiful new home. You are excited about the possibilities that this new home is going to bring to you and your family. Don’t let this dream turn into a nightmare because you decided not to spend a little extra money on a Home Inspection.

A study conducted by the American Society of Home Inspectors and the NAR in 2001 found that 77% of all homebuyers insisted on a Home Inspection prior to purchasing their property, and 97% of that group believes the service was a good value for the price.

Next to the financial contingency in the Real Estate Purchase Contract, the Home Inspection is the most reason you need to consider before purchasing the home. This is where you have the right to back out of the contract, if the report indicates a serious problem. Better yet, the peace of mind a Home Inspection will bring is endless.

I recommend to all my buyers that a Home Inspection is a must. The benefits that come from having a Home Inspection far outweigh the cost. Have you home Inspected and I know you will thank me later for the suggestion.

Check out the IDX Websites with Homes for Sale in the following locations:

State of Utah homes for sale – Home Selling Utah

Homes available for Sale in Utah County

Alpine Homes for Sale

American Fork Homes for Sale

Cedar Hills Homes for Sale

Eagle Mountain Homes for Sale

Highland Homes for Sale

Lehi Homes for Sale

Mapleton Homes for Sale

Orem Homes for Sale

Provo Homes for Sale – Provo Home Selling

Payson Homes for Sale

Pleasant Grove Homes for Sale

Saratoga Springs Homes for Sale

Spanish Fork Homes for Sale

Springville Homes for Sale

Homes available for Sale in Salt Lake County

Salt Lake City Homes for Sale

Draper Homes for Sale

Herriman Homes for Sale

Riverton Home for Sale

Sandy Homes for Sale

South Jordan Homes for Sale

Homes available for Sale in Wasatch County

Heber City Homes for Sale

Midway Homes for Sale

Homes available for Sale in Summit County

Deer Valley Homes for Sale

Park City Homes for Sale

Homes available for Sale in Washington County

St George Homes for Sale

other Southern Utah Homes for Sale

Homes available for Sale in Weber County

Homes available for Sale in Davis County

Utah Real Estate Search

Utah County Homes for Sale, who pays for Closing Costs?

There have been times in the past that I have had clients come to closing not understanding what kind of money they would be required to pay. There are various fees associated with buying and selling a home. These fees are called closing costs. Some of these fees are automatically assigned to either the buyer or the seller, other costs are either negotiable or are dictated by local area custom.

Buyer Closing Costs

When the buyer applies for a home loan, loan officers are required to provide the borrower with a good faith estimate of their closing costs. These fees will vary depending on the type of loan and the terms of the purchase agreement. Some of the closing costs, especially those dealing with the loan application, are actually paid in advance. Some typical closing costs include:

Down payment, Loan fees (points, application fee and credit report), prepaid interest, Inspection fees, Appraisal, Mortgage Insurance, Hazard Insurance, Title Insurance

Seller Closing Costs

If the house has not yet been paid in full, the sellers most important closing cost is satisfying the remaining balance of their home loan. Before the date of closing, the escrow/title officer will contact the seller's lender to verify the amount needed to close out the loan. Then, along with any other fees, the original loan will be paid for at the closing before the seller receives any proceeds from the sale. Other seller closing costs include:

Broker commission, Transfer taxes, Title Insurance, Property Taxes (prorated), Negotiated Closing Costs

In addition to the sales price, buyers and sellers frequently include closing costs in their negotiations. This can be for both major and minor fees. For example, if a buyer is particularly nervous about the condition of the plumbing, the seller may agree to pay for the house inspection. Likewise, a buyer may want to save on up-front expenditures, and so agree to pay the sellers full asking price in return for the seller paying all the allowable closing costs. There is not right or wrong way to negotiate closing costs, just be sure all the terms are written down on the purchase agreement.

www.UtahHomesforSale.us
www.UtahHomesforSale.ws
www.UtahHomes.ws
www.ExitUtahRealEstate.com
www.UtahHomes4Sale.ws
www.RobertHulme.com
www.UtahCountyHomes.ws
www.UtahCountyRealEstate.us
www.UtahCountyHomesforSale.net
www.UtahCountyHomes4Sale.com
www.UtahCountyRealEstate.ws
www.UtahCountyRealEstate4Sale.com
www.UtahCountyUtahMLS.com
www.AlpineHomesforSale.us
www.HighlandHomesforSale.com
www.OremHomesforSale.us
www.OremRealEstate.us
www.ProvoOremHomes.com
www.ProvoHomesforSale.us
www.ProvoRealEstate.net
www.ProvoRealEstate.ws
www.MapletonHomesforSale.us
www.SpringvilleHomesforSale.us
www.Salt-Lake-City-Real-Estate.us
www.SaltLakeHomesforSale.us
www.Park-City-Homes.us
www.ParkCityUtahRealEstate.ws
www.HeberCityRealEstate.us
www.MidwayHomesforSale.net
www.MidwayRealEstate.ws
www.St-George-Real-Estate.com
www.St-George-Homes-for-Sale.us
www.St-George-Real-Estate.net
www.SaltLakeCountyRealEstate.ws
www.SummitCountyRealEstate.ws
www.DavisCountyRealEstate.us
www.WeberCountyRealEstate.ws
www.WasatchCountyRealEstate.ws
www.WashingtonCountyRealEstate.ws

When looking at 2nd quarter numbers over the past two years, homes in Spanish Fork increased 18.4%. Median and average prices of Spanish Fork real estate decreased between two and four percent

In just five years, Spanish Fork Utah Real Estate sold more than twice the number of homes. Unfortunately, it only took three years for numbers to be cut in half. In 2009, numbers for sold homes in Spanish Fork were almost the exact same as they were in 2000. Spanish Fork home prices increased pretty heavily in 2006 and 2007 and then decreased in 2008 and 2009 ending at about the same amount from 2006.

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!