Realty As Is » homes for sale salt lake city ut

Question from homeowner: My lender just sold my loan. Is that a good thing?

Tom Winand — Wed, 17 Nov 2010 23:23:23 +0000

Salt Lake City UT – The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked.

Here is the answer. It’s neither good nor bad. In fact, I don’t think your loan was sold. You see, most loans were packaged up and sold to Fannie Mae, Freddie Mac, or Wall Street.

James’s loan was more than likely packaged up and sold off. I asked him who his original lender was. He said it was a company called First Magnus. (First Magnus declared bankruptcy in 2007 and was afterwards closed.)

The Stop Foreclosure Institute has negotiated short sales on loans that were originally with First Magnus. The last one was sold to a large Wall Street Firm and securitized.

That means James’s loan could be owned by anyone. More than likely it is owned by Fannie Mae or Freddie Mac. If not, then it was probably sold to a Wall Street Firm.

The owner of the loan hired CitiFinancial to act as their front man. That means Citi collected the payments, handled escrows and accounting, and manages debt collections and foreclosures.

More than likely Nationstar did not buy the loan. Instead whoever owns the loan hired them to act as the front man instead of Citi.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at tom@spottedhome.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 801-403-9774.

Discover how other sellers successfully completed a short sale and request a free consultation by.

Thinking about a loan modification? Our Salt Lake City Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender.

Thanks for reading this, Tom Winand.

Tom is a Real Estate Broker at Spotted Home LLC.

Phone: 801-403-9774. tom@spottedhome.com.

We Believe in HOME

View My homes for sale at www.spottedhome.com.

Tom Winand specializes in loan modification assistance and short sales in Salt Lake City Utah. Salt Lake City Loan Modification Help, Salt Lake City Short Sales, Salt Lake City Short Sale Realtor. Short Sale Realtor. Salt Lake City UT Short Sales. Salt Lake City Realtor.

Salt Lake County real estate absorption report Short sales and bank owned property are still driving the market!

Tom Winand — Wed, 10 Nov 2010 20:29:58 +0000

The Absorption report for salt Lake County is moving in an upward direction over 10 month of inventory which would indicate prices will be decreasing! If you would like a specific neighborhood or city report leave me a comment and I will post it and email it to you!

	2 Months	3 Months	4 Months	5 Months	6 Months	12 Months
Salt Lake County Real Estate Absorption Report as of 11/10/2010
Active Properties:	7,088	7,088	7,088	7,088	7,088	7,088
Under Contract Properties:	810	810	810	810	810	810
Sold Properties:	1,400	2,207	2,927	3,891	5,207	10,588
Market Absorption:	700.00 Per Month	735.67 Per Month	731.75 Per Month	778.20 Per Month	867.83 Per Month	882.33 Per Month
Inventory:	11.28 Months	10.74 Months	10.79 Months	10.15 Months	9.10 Months	8.95 Months



Pretty much the same in the avenues area as the county. Absorption rates over 8 month mean decreasing prices! That not good news going into the winter and no help in site form the government on incentives to get more home owners in the market! Looks like the market will continue to be drive n by Short Sales and Foreclosed bank owned property!

	2 Months	3 Months	4 Months	5 Months	6 Months	12 Months
The Avenues and Zip 84103 Absorption Report
Active Properties:	165	165	165	165	165	165
Under Contract Properties:	19	19	19	19	19	19
Sold Properties:	36	58	73	107	142	266
Market Absorption:	18.00 Per Month	19.33 Per Month	18.25 Per Month	21.40 Per Month	23.67 Per Month	22.17 Per Month
Inventory:	10.22 Months	9.52 Months	10.08 Months	8.60 Months	7.77 Months	8.30 Months

Prepared By:: Tom Winand; Spotted Home LLC; 801-403-9774

This report was generated automatically by the Wasatch Front Regional MLS on 11/10/2010 at 01:18 PM

Where is the Salt Lake housing market going!

Tom Winand — Tue, 26 Oct 2010 20:54:21 +0000

Form the 2 most reputable statistical sources Core Logic and The WFRMLS we see Salt Lake county prices down about 9% on the year. There are communities where that is in the 14% range. After the tax credit ended in the end of September home sales are way down. Since the highs of 2007 we’re seeing price per square foot down 24% since the high of Aug 2007. In Aug 2007 the county medium price per sqft hit $119.73, Aug of 2010 it was $90.32 that is 75.43% of the price in 2007 or a decrease of 24.56%. What I have seen in some of the hardest hit area it over 35%. For example Suncrest was $134.98 Dec 2007 and in Sep. 2010 it was $87.72 or 64.98% of the original that is a decrease of 35.01% Herriman was $116.49 July 2007 and Sep. 2010 it was $76.61 a decrease of 34.69%.

Form what I predicted last summer of 10 to 12% this year were on pace for that. It looks like it my be right on track for 12% with winter coming. Were going into the worst time of the selling season and we have no tax credit and no help to see in the future. With foreclosures or the short sales driving the prices down no decrease in that inventory. We have record foreclosure in Salt Lake county over the last 3 months. I predict an addition 5% decrease in price per sqft by the end of the year. We just have nothing to prop up the housing sales market at this point for the foreseeable future. Mortgage rates have no affect. I see that trend continuing for the first quarter of 2011. I would look to bring out the old tax credit for housing at end of March or beginning of April. Buckle up it going to be a home buyer market for the winter in Salt Lake; large sale prices will be had by buyers this Holiday season if you can buy, do it!!!

That is Realty as is and my prediction. I have been right so far. We’ll with the acceptation of the stocks falling below 9,000 in the summer it only hit 9,500. Look for Salt lake county price per sqft to hit the $84 mark by the end of February .

Best Home for Sale In Salt Lake

Tom Winand — Thu, 14 Oct 2010 02:13:07 +0000

872 S CONCORD ST , Salt Lake City UT 84104

This a new Listing of mine in Salt Lake City. It on a great street that dead ends into a park. The list price is $80,000 and we’ll pay your closing cost. If you use me as your listing agent I’ll pay to put closets in the bedrooms to allow it qualify for a FHA.

Property Tour

Visit spottedhome.com for the complete home tour and thousands of other homes for sale.

We need a Offer ASAP. Use UAR SS addendum and include a per-approval letter that states auto-underwriting approval completed. $500 Ernest Money. Great affordable bungalow in a great neighborhood dead ends into a park. Bedroom do not have closets so for FHA you would have to get 203k streamline financing only we have a expert lender that can close one in 30 days.

View the Complete Home Tour.

View all Property Detail.

Price:	$80,000.00
Beds:	3
Baths:	1
Sqft:	1,401
Lot:	0.15 acres

To see this home in person call..

Tom Winand, Broker

Spotted Home LLC

801-403-9774

For Maps, Street View, Tour, Dozens of Home Facts on thousands of UT homes please visit spottedhome.com

How to avoid the Tax Credit selling Train Wreck in Salt Lake

Tom Winand — Sat, 20 Feb 2010 18:28:03 +0000

From now until the end of April in Salt Lake County, there will be more offers written on homes for sale then there will be in all of 2010. Good news for home seller Right? We’ll maybe if you keep your guard up. I have to say the 2010 Home Bing Tax Credit expiring at the end of April will cause a real train wreck of buyer putting in multiple offers on lots of peppery and not really having intentions or means to buy them all. I talked to one buyer that has 6 offers in on short sales and said they would take the first one. I would bet there will be a lot of buyer doing the same with short sales and also having a non-short sale in the mix. I would bet the contract would go something like this closing on or before June 25 2010. I would bet the loan denial date would be like June 20 so they can back out of the transaction If they get a short sale a great deal and the poor home sell missing selling their home and because they Tax credit won’t be extended this time for a couple of months they will probably sell for a lot less money. The government is pulling out of subsidizing the home buying industry. They are raising the Treasury Bill rate and they will probably end the home buying tax credit. The reality is the real estate market in the country will come to a screeching halt in Aug and Sep so then they will act in November to the crisis. The government will get all in arm’s Barany Frank will get up and tall like he a concerned government superhero that know everything and it will be big news and big grandstanding and a new Tax credit form Nov 2010 to April 2011 will come out pretty much the same as today’s is it will have first time home buyers credit of $8,000 and 2^nd home buyers credit of $6,500 it they have owned for 5 years.

Back to my point how do you as a home owner not miss the best selling time with a bogus offer? We’ll you take a little piece of the short sale addendum allowing the property to stay on the market active because the offer is not binding. You can have multiple offers to buy the seller can accept all in order. The seller accepts an offer in first position and gives them a first offer the right to match the offer. Match what you say Price and ability to close. So there is no binding contract until the buyer shows the ability to close. Make the primary offers earnest money (at least 1% of sales price) non-refundable unless the inspection finds an undisclosed pertinent and substantial fact that affects the value of the home such that it will deter future home buyers, that he seller is unwilling to correct. So not the first offer ready to close force the primary offer to step up and match it or lose their earnest money if they back out. You may want to do 2% that how strongly I believe seller will be take advantage of in this crazy buyer purring in multiple offers. Some buyers will not disclose they have a home to sell. All listing agent should put a Q & A addendum do you own another home. Will you have to sell or rent the home to qualify? Then get a Pre Qualification letter stating the lender knows of this and they buyer qualifies without selling the home.

If you’re an agent or sell take this to heart it will be happening making offer on multiple property. It’s probably unethical if you don’t disclose it to the seller but agent think they can just put in contingency that will allow the buyer to back out. Like financing oh they can’t buy 2 home so they don’t qualify. Right we need to hold this kind of activity accountable but how?

Will they Walk Away from Mortgage in Salt Lake

Tom Winand — Wed, 20 Jan 2010 05:37:32 +0000

Is it better to walk away from your mortgage?

Interesting NPR Talk Of The Nation program about people walking away from their mortgages. We’re continuing to see upside down home values in Utah so we can expect to see more Owners in this situation here in Utah. What do I think it would take for most families to consider walking away from their home and allowing the bank to have their house? Well, if you’re 25% upside down or more on a home that was valued at $500,000 in 2006, and is now valued at $350,000 then you are probably looking at 10 years before your home reaches back up to a $500,000 value. In the high value or hardest hit areas; like Herriman, Riverton, Saratoga Springs, Lehi, and Eagle Mountain in Utah county the depreciation can be as high as 60%. If you purchased or refinanced for 100% in 2006 or 2007 you probably are 25% to 30% upside down on you home. I definitely see people walking away when even a short sale can’t get approved. The real estate community is very active in listing short sales but the banks, especially the 2nd mortgage holders, are not cooperating. I currently have 3 short sales where the 2nd mortgages are causing a foreclosure because they want too much money for their payoff or they just wait too long for the first mortgage holder to make up their minds.

I have one friend that walked away from his home. Well, he is actually still living in the home even though it was foreclosed on 6 months ago. The bank never contacted him. He lives in the earth slide area of North Salt Lake. In this case, he stopped paying his mortgage because the home was worthless and the area will soon get condemned. I’m amazed the city hasn’t done that already with the gas lines moving as the ground shifts. One break and a home could fill up with gas and then a simple spark and then boom. The whole neighborhood would be gone. That’s really scary and people’s lives are at risk! When your home is condemned the City does not buy it, so you still own it and you’re still responsible and you can’t live there. Usually you have to remove the home at your own expense. I was over at this friend’s place awhile ago and saw his neighborhood and 2 homes were condemned because they were literally breaking apart. There are 8 inch gaps in the roads where it has split. He said there are Qwestar trucks sniffing for gas leaks every day. It’s not a matter of if, it’s a matter of when. I guess I can’t blame them for walking away.

Listen to the NPR show on the topic and tell me what you think. I can say from the voice of my 16 years of Mortgage experience, its much better on your credit report to have a situation dealt with quick even with a bankruptcy, rather then going through years of late payments and struggle. A short sale would be preferable to a foreclosure or walking away. Let’s be clear, that I don’t in any way condone not paying your bills or mortgage.

Now also allow me to have a straight look at the financial or reality of it all. After all, this is the REAL Real Estate News! If your in an area where your home is upside down by $100,000 or more you will not see that kind of appreciation for maybe 10 years or more in the Salt Lake Valley. That is unless they bring back stated income and stated asset loans. That is not happening any time soon! We’re in for a year of continued downward adjustment then many years of flat to slight increases. So you’ll end up paying an extra $100,000 on an underwater mortgage over the next 10 years at 5% interest. The numbers are $5,000 a year in interest or $50,000 in interest for 10 years. Wow, now you are at break even on your home! Isn’t that sobering when you look at it that way? So you pay $50,000 over 10 years or do a short sale and buy a similar home again in twelve months, but pay $100,000 less. In 10 years you would have $100,000 in equity and $50,000 less in interest paid. A $150,00 swing represents a lot of financial future for a family. Now for the bad news: what are the credit implications of your choices and the impact on getting a mortgage in the future? If you do a short sale you can buy another home in 12 months after your last late payment because of a hardship or buy again after 3 years if the short sale was debt related. If a Chapter 7 bankruptcy is involved then you wait 2 years after discharge before you can purchase again. With a chaper 13 bankruptcy you can purchase in 12 months with trustees approval. A foreclosure will keep you from a mortgage for a minimum of 3 years. All of that is on the current FHA guidelines. Just like NPR says, it’s a hard conversation for a family to have . What do you think, please comment!

What the heck is going on with buying a short sale in salt Lake?

Tom Winand — Thu, 24 Sep 2009 18:16:05 +0000

I was looking at this post on Trulia.com a question about short sale buying and I couldn’t help buy write this post.

How to buy a short sale.?

What are the steps to take in buying a short sale, from start to finish. How long does the process take? And can the $8000 tax credit be used? The home is located in Plainfield NJ. Thank You.

It was bothered by the agents standard answers of 3 to 6 months to get bank approval and not looking at why a buyer is asking this question in the first place. They are frustrated and want to buy a property at a good price don’t bon truest the listing in there local area because we as MLS and agents have allow a mockery to be made of the MLS. My to the question is.

I have read the answers and know short sale very well form both the seller and the buyer perspectives. Short sales are a big problem in the real estate market right now frustrating buyers and buyer’s agents. Unfortunately some agents are using this problem of selling excess inventory to take advantage of the banks, and steel the properties for investors. With the intention to resell the property simultaneous to the public looking for a retail buyer and make big profits off home owner in or facing foreclosure. This is causing the home buying public to not trust realtors that they can find them the good deals out there. So the public is going to the listing agents to make offer on short sales and they find out after signing an exclusive buyers agreement, that the property had an investor offer or was under contract with another offer and there offer was one on many back up offers. So what’s going on? I see 3 big problems with short sale listing:

Agent’s use them as an advertising source to get buyer interested in a home that is listed way under value. To get buyers to call them and sign an exclusive buyers agency agreement locking them into buying for 6 months. I bet this is even the case in the few states that don’t allow Limited Agency. They probably circumvent that by using a team and Referral Agreement between agents. While this is going on the agent has an investor off in to the bank and is gather these names to buy the home form the investor either as simultaneous close or in 90 days as allowed by FHA.
The investor simultaneous flip. Agent gets an investor to make a very low offer and they work with the bank to get this accepted or countered at their banks drop dead point. Then while they are doing this the agent keep the property active on the MLS liking for buyers willing to pay close to retail price so they can make $20,000 or more on the simultaneous close. Usually the investor is the negotiator so they have no real interest that a short sale gets approved its how much money they need to make. Unfortunately this causes some home to be sold at foreclosure sale. The worst is asking the seller to Quitclaim the property to then buyer and stall the bank for 90 days so the new buyer can simultaneous close with a FHA buyer because FHA requires 90 days of ownership. I wish the banks would get smart and ask for a current title search for the title company with chain of ownership like lenders require. That would stop this fraudulent and dangerous practice the bank would say no sale and turn it over to the federal task force investigation this. Oh yea if your doing this it’s real and I have talked to them and advised them on investor groups doing the quitclaim scam. Any agent that would even consider having his client give his property ownership to some investor need to be expelled from the National Association of Realtor and sued for breach of contract.
Some agent’s don’t know what they are doing on a short sale and should not be attempting it. Like the FHA and VA rules and the HUD form you have to fill out to get a short sale approved prior to listing it. They have specific rules forms and % of net to the bank that you must be within. If you don’t know that please don’t list short sales.

So what can you do as a buyer or buyer’s agent? First off make reasonable offers. Do the work on want a good retail price for a home is. The bank would give the property away. In most cases it 86 to 88% of the current retail price net after closing cost, yep based on the dredged banks BPO(Broker Price Opinion. What do you do with the listing agent you ask if an offer is accepted and presented to the bank? If no make an offer that clearly states when accepted your offer will be exclusively worked on with the bank until the bank reject your offer. If they don’t feel your offer is high enough for that, then have a first right of refusal if any other offers come in you have 48 hours to make your offer match their more desirable criteria or back out of first position. Also have a time line for presentation to the bank 72 business hours after acceptance of the owner.

If there is an offer find out if there are back up offer or if you can be the primary back up offer with the same binding contract if now walk away. Now please as a buyer make a reasonable offer base on the sold comparables. With your agents determine the reasonable retail value of the property per above guidelines. Now if prices are dropping 5% a month ok offer 5% less than last month’s sales. Use your agent and do the home work and the bank will accept your offer. If you offer 50% the bank will put it in a stack of file that won’t be worked on.

It makes me nuts to see agents accepting offer after offer on a property. Buyers have rights! You as an agent need to advise your seller on accepting a good offer on the property based on it selling criteria. Agent and seller have to assume the responsibility to accept good offer and maybe then banks would be able to complete them on 20 to 30 days. I want to see the term low ball offer to get the ball rolling taken out of our language as Realtors. Lets replace it with we have an offer or we do not have and offer the owner accepted or we have an offer with a price contingency? Let’s make the buyers feel valued again.

203 K Streamline Loans are The Best Little Loan No One Knows About!

Tom Winand — Wed, 16 Sep 2009 19:02:11 +0000

203 K loans are the FHA loans that allow you to buy a home that is a fixer upper. The newly developed FHA 203 K Streamlined loan allows you to buy a home that is run down that wouldn’t qualify for FHA financing. As loan as there is no structural repairs needed. The list of allowable repairs is below. Buying with the FHA 203 K Streamlined loan is easy all you need to obtain contractors bids and submit them to your lender. This can be done at the time of inspection or maybe week of the inspection. Sure it more work but the get a home at a great buy and the money to fix it up at only 3.5% down payment, you’ll have to do a little more. It a great loan because it gives the buyer the ability to buy a Short sales, bank owned or just undervalued property that the seller won’t do FHA repair and have the home the way you want after closing with little of your buyers money . They can get up to $35,000 in repair, winterizing, greening up the home, put in new windows and R50 insulation in the attack, upgrade the electrical, making it just the way your client wants, and they just have to pay the 3.5% down on that portion and the rest in put in the loan. You can do allowable repairs up to $35,000 with no minimum; so if you just need $3,000 for carpet you can burrow that above the purchase price. If you need a new furnace and upgrade to the electrical system that’s Ok you just need to get bids form licensed contractor that meet requirement to do the work. Can you do the work yourself? Yes and no; you can do the work if you have the expertise and can prove it or if it is unskilled work like painting.

What improvements are eligible under the new Streamlined (k) program?

The Streamlined (k) program is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required. The Streamlined (k) program includes the discretionary improvements and/or repairs shown below:

Repair/Replacement of roofs, gutters and downspouts
Repair/Replacement/upgrade of existing HVAC systems
Repair/Replacement/upgrade of plumbing and electrical systems
Repair/Replacement of flooring
Minor remodeling, such as kitchens, which does not involve structural repairs
Painting, both exterior and interior
Weatherization, including storm windows and doors, insulation, weather stripping, etc.
Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
Accessibility improvements for persons with disabilities
Lead-based paint stabilization or abatement of lead-based paint hazards
Repair/replace/add exterior decks, patios, porches
Basement finishing and remodeling, which does not involve structural repairs
Basement waterproofing
Window and door replacements and exterior wall re-siding
Septic system and/or well repair or replacement

How do you get the extra money?

As the buyer you get contractor bid and with your loan officer calculated the cost into a 203 k Loan Worksheet. Your money will be released form title after the work is completed. Inspections are at the discretion of the lender. There are options to get ½ the cost up front if the contractor needs that for cost of materials but no more than 2 payments the initial and final after completion. This is loan is not for building a home or completing substantial work it a fixer up or and updating a home loan. It a great tool in today market to by Short sales and bank owned homes that need TLA and won’t qualify for the traditional FHA loan.

Selling Your Home For Sale By Owner in Salt Lake County

Tom Winand — Wed, 09 Sep 2009 03:27:15 +0000

I thought I would write a blog to help all the For Sale By Owner selling in Salt Lake. Selling For Sale By Owner or FSBO is something I know a lot about. Ok, I know some of you are rolling your eyes saying this is where the Realtor is going to tell us we have to list to sell because 80% of homes are sold by Realtor’s etc. Maybe and maybe not; it all depends on the market conditions at the current time.

Allow me to give you some credential, I was the nation Real Estate Broker working for ForSaleByOwner.com from May 2005 to May2008. I listed dozens of flat fee listing a month for most of the Watch Front and consulted with national listing agent and customer support problems. Created new programs for ForeSaleByOwner.com to market to seller and buyers and yes sold real estate. For you people keeping score that was during the boom of the real estate flipping era. So I know a little about the For Sale By Owner way of selling. I’ll be honest you can sell your home as a FSBO. In today’s buyers market it harder. It not easy because buyers are looking for the great deals of bank owned and short sales they want a great deal and those two category of homes are being show by Realtor’s only. So buyer tend to become clients of Realtors and end up seeing only listed homes not FSBO homes. I’m sorry that is the nature of the market right now. If it becomes a seller’s market again FSBO will be very effective again. I don’t see that happening anytime soon. Even if they don’t buy a short sale or bank owned home they buy a listed home. So how do you get listed without paying 6%? Now that’s a really great question! That is actually easy it’s a flat fee listing or pay for service listing? You can get your home listed from $99 to $995 full service and chose your buyer agent commission from 0% to 4%. So you could spend $199 and 2.5% buyer’s agent commission and have your home on the MLS thousands of MLS Real Estate company and agenth web sites all for a low fee. If you sell it your self you pay nothing but the one time fee. That is the best way to sell in this market. Selling comes down to marketing exposure and pricing, the more shopper that see your home the more of a chance one will think it’s the best home for the money and they will make an offer. That is it really simple. It’s a beauty pageant and a price war! You have to be priced well, in this price driven buyer market. So you can’t rule out the buyer working with agents, if you want to sell. There may only be only 3 or 4 buyers looking for a home like yours and 3 of them may have agents that are the nature of this market right now. Where do you find a reliable flat fee company? We’ll I’m glad you ask, I have one that I have created it http://www.forsalebyownerhelper.com/ you can place your listing, upload your photo buy a self serve or professionally shot Obeo virtual tour, which is the best tour for tracking the buyers viewing your home. I will post your home on the WFRMLS and syndicating it to most of the major home buyer’s sites. From the $99 limited service listing to the$995 Full services until sold all the bells and whistles listing. If you post a comment on this blog post and enroll in a listing program, I will give you the statistics for your home sold listed and under contract so you can do the # for pricing your home. See the pricing your home posting. Good luck and happy selling!

Embarrassment to the State The New Utah Home Run Grant!

Tom Winand — Sun, 06 Sep 2009 22:51:35 +0000

How about a real alternative Realty As Is Grand Slam Grant!

Utah Legislature has used the last 1/3 of the Utah People TARP funds, allocated to the state of Utah, for New Construction Home Buyers Grant. I guess they had to give the development companies more assistant to sell their overpriced, new construction home!!!! There are a lot of programs that really would have benefited home buyer a lot more if the legislator really wanted to stimulate the real estate recovery in Utah. Like why doesn’t Utah have a, loan of the first time home buyers tax credit, so they can use it for their down payment? HUD has approved this and Utah housing, the administrator of the Home Run Grant, is really the only entity in Utah that could do it and their answer to me when I ask them why it wasn’t being provided as a program? Was they didn’t have any Money to do these loans! So why didn’t the legislator allocate the fund for this up front loan of the $8,000 first time home buyers Tax credit I don’t know? Were creating our own Home Buying Program the Realty As Is Grand Slam Rebate 1/2 of Our the Buyers Agent Commission. An Home Any Price Any Use Just buy with us. Short Sales Bank Owned Tax Credit Utah Housing Loans we Just want you to get a home and a real incentive!!!

The reason why many home buyers don’t buy now FHA requires a 3.5% down payment from their own fund or a gift form a blood relative. HUD did away with 100% purchase gifting down payment plans and raised the down payment requirement form 3 to 3.5% in the last tax credit for first time home buyer legislation. Sure Utah Housing has a 106 % program but the rate is 1% higher on the 97% first mortgage and 2% on the 6% 2^nd mortgage above the going FHA Rate. People what to buy a home with no money down and have a 5% 30 year rate that is it. Is that right or wrong I don’t know but it is real and that is what we’re about on this blog, Reality! We had the opportunity to do that and use that money from the Tarp to fund a real first time home buyers program and we didn’t. So instead what we have done is give the home builder more incentive to build home that we don’t need. We’ll I don’t get! We have thousands of short sale on the MLS in Salt Lake County and only a few hundred existing new construction homes that are complete and ready for home owners to buy. People are trying to sell their home and avoid foreclosure and the public wants to buy these homes and no help from Utah! I see this is a way to line home builder pockets so they can sell there over priced inventory and we pay for it, it’s a real sucker punch to the Utah people. I’m not even sure how well this will go over. Why buy a new home $15,000 to $50,000 overpriced to get a $4,000 Grant. I’m sure Miss Utah and the home builders will be advertising the Heck out of it.

We’ll I have a grant for you home buyers!

I will give you a free grant of ½ of my buyers commission so on a $250,000 shot sale that is $3,750 free money and you can buy a existing home or a new construction no income limit, investment or primary residence. How is that for a grant? I’m calling it the Grand Slam Home Run Grant!

Listing details of the home Lets look at how it works compared to the home Run. You can buy a listing like my short sale in West Jordan. You could offer $275,000 with seller paying $8,000 in closing costs and you would get a rebate of $4,200 on my Grand Slam Home Run program. If your would rather than buy the same home in the same development from Ivory who built this one for $350,000 and get a $4,000 Home Run grant rather then get my Grand Slam grant form me you can! Here is what you would get each way.

Grand Slam Rebate

Get a FHA 5% fixed 30 year going rate and have all your closing costs paid and help out a short seller.
You get the home for $275,000 not $350,000 so you have $75,000 less in loan @ 5% your saving is $402 a month or $4,831 a year in payment!
You’ll have equity in your home from the start as opposed to being upside down.
You home payment will be P % I $1,476 as opposed to $1,878 Wow.
You get a cash rebate of $4,200 after closing. Spends it on whatever you want, probably the back yard on this home!

Who is Eligible for the RealtyAsIs.com Grand Slam Grant!!!

Every one that buys from me as their realtor.

Home Run

You get a home buying grant of $4,000.
You get to be the first to live in your home.
You may get to pick the carper and paint form a few choices the builder gives you.
You get to say you built the home?
You P& I payment is $1,878you have to pay your own closing cost or add them on top and use your grant.

It you really want to see the details on the Utah Home Run Grant hear your go.

The Home Run Grant FAQ Home Run Program PDF Link

Eligible Listed Property Link

Who is eligible to receive a $4,000 Home Run 2 Grant?

Home buyers (any person taking title) must meet the following income restrictions:
- Single person, maximum income, $75,000
  Married couple, maximum income, $150,000
- If more than one unmarried person is taking title to the Eligible Home, each such single person is subject to the $75,000 income limit.
- Income calculations will be determined by the Adjusted Gross Income as verified by the Approved Lender using the 2008 IRS Federal Income Tax transcript obtained directly from IRS or from an authorized third-party vendor.
- Home buyers must occupy the purchased home as a primary, permanent residence.
If home buyers need a mortgage loan to purchase the home, the loan must be a fixed interest rate, amortizing mortgage loan with a term of 30 years or less.
The Home Run 2 Grant Program is effective only for home purchases closed after a Home Run 2 Grant Commitment has been issued for that specific transaction. The grant funds may not be issued for homes purchased prior to obtaining the Home Run 2 Grant Commitment and may not be used by Home buyers who received the $6,000 grant under the previous Home Run Grant Program.