Salt Lake City and Beyond Happenings

Event Spotlight

Spring Bonsai Show March 28-29, 2015 Red Butte Garden, Salt Lake City more info >> Members of The Bonsai Club of Utah will be on hand to exhibit different bonsai styles and arrangements and offer demonstrations of training and shaping techniques.

Featured Events

TV on the Radio March 28, 2015 The Depot, Salt Lake City more info >> TV On The Radio will be out on tour this spring in support of their latest album, "Seeds." See them live March 28th at The Depot!

The Mikado March 27-28, 2015 Heritage Theatre, Brigham City more info >> This Gilbert and Sullivan master piece has been tickling funny bones for more than a hundred years.

Baroque Band March 26, 2015 Manon Caine Russell Kathryn Caine Wanlass Performance Hall - Utah State University, Logan more info >> Baroque Band, the superb period instrument orchestra, creates exciting performances that emerge from the best of baroque scholarship while leaving stuffy attitudes behind.

AVOID FORECLOSURE
AT ALL COSTS

Home Affordable Foreclosure Alternatives (HAFA) Program

Benefits of a HAFA Short Sale:

• ZERO liability for the deficiency you owe to your lenders
• Receive up to $10,000 to help pay for relocations
•  100+ mortgage servicers participate in the program
• OR your mortgage is owned by either Fannie Mae or Freddie Mac
• The Attorney on our Short Sale Team enforces HAFA compliance for your home

Qualifications for a HAFA Short Sale:

• Documented financial hardship.
• No new home purchases within the last 12 months.
• First mortgage is less than $729,750
• Mortgage start date is prior to January 1, 2009
• No real estate transaction or mortgage felony convictions within the last 10 years
• You live in the home or have lived there in the last 12 months.

HAFA has clear deadlines put in place to keep the process streamlined unlike those of other short sales. Mortgage servicers must evaluate homeowners for HAFA within 30 days after one of the eligibility criteria is met. Once eligibility is determined, any and all foreclosure activity must cease on the property during the short sale process.

One challenge in the HAFA short sale is the requirement of professionals who are familiar with the HAFA program to make sure that the lender/servicer is playing by the rules and properly evaluating the file for eligibility. Our team enforce lender compliance and will create a strategic plan which addresses your entire financial situation.
Go to    bit.ly/1FPC6du     for more information on our Short Sale Information Hotline.
 

Existing-Home Sales Cool in January As Available Inventory Remains Subdued

WASHINGTON (February 23, 2015) – Existing-home sales declined in January to their lowest rate in nine months, but the pace was higher than a year ago for the fourth straight month, according to the National Association of Realtors®. All major regions experienced declines in January, with the Northeast and West seeing the largest.
Total existing-home sales¹, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 4.9 percent to a seasonally adjusted annual rate of 4.82 million in January (lowest since last April at 4.75 million) from an upwardly-revised 5.07 million in December. Despite January’s decline, sales are higher by 3.2 percent than a year ago.

Read the complete report

Best of 2014 69th Annual REALTOR® Awards & Recognition Event

Salt Lake City and Beyond Events

Evening of Brilliant Contrasts with Pianist Michael Gurt February 13, 2015 Rose Wagner Performing Arts Center, Salt Lake City more info >> 1982 Bachauer Gold Medalist Michael Gurt will perform the atmospheric and evocative Ciclo Brasileiro of Villa-Lobos along with the capricious F-sharp Minor Sonata of Clementi, the alternating dreamy and impulsive Kreisleriana by Schumann, and the intensely virtuosic Sonata No. 2 of Rachmaninoff.

Featured Events

Texas Tenors February 19, 2015 Cox Performing Arts Center - Dixie State College, St. George more info >> From Alabama to Puccini, John Hagen, Marcus Collins and JC Fisher bring their unique blend of country, gospel, classical and Broadway to the stage.

Our America: The Latino Presence in American Art Through May 17, 2015 Utah Museum of Fine Arts, Salt Lake City more info >> Our America presents the works of 72 leading modern and contemporary Latino artists and explores how they shaped the artistic movements of their day and recalibrated key themes in American art and culture.

The Streisand Songbook February 13-14, 2015 Abravanel Hall, Salt Lake City more info >> Platinum Award winning singer-songwriter Ann Hampton Callaway joins forces with the Utah Symphony to celebrate the music of Barbra Streisand, one of America’s most powerful and enduring musical artists.

Special thanks to Salt Lake County Zoo, Arts, & Parks for their continued support.

Home Sales Expected to Improve in 2015, but Some Headwinds Still Remain

                                              

NEW ORLEANS (November 7, 2014) – Existing-home sales are expected to be higher next year and prices will remain at a healthier level of growth that benefits both buyers and sellers, according to an economic forecast at a residential forum during the 2014 Realtors^® Conference & Expo.

Lawrence Yun, chief economist of the National Association of Realtors^®, was joined onstage by Mel Watt, Director of the Federal Housing Finance Agency, who discussed issues preventing consumers from becoming homeowners, and Julián Castro, Secretary of Housing and Urban Development, who kicked off the forum with a video address.

Yun said existing-home sales this year got off to a slow start, but have recently shown stronger growth behind improvements in inventory, slower price gains and pent-up demand.
“The improving job market has consumers feeling more confident, and the rebound in home prices is building household wealth for homeowners and giving them the ability to sell after waiting the last few years,” said Yun.

Read Full Article

Rents are Shooting Up!

Renters Face Affordability Crisis

With increased competition for units, rents are shooting up, and the increases are biting renters’ wallets as they find themselves increasingly getting priced out of the market, with wages failing to keep pace.

When Will They Buy?
Renters May Grow by 6 Million in Next Decade
Top 10 Reasons Renters Keep Renting
14 Priciest Neighborhoods for Renters

Nationwide rents have risen about 6 percent from a year ago, due to rising demand and still-limited supply, CNBC reports. Renters in San Francisco, San Diego, Boston, Baltimore, Washington, D.C., and Chicago are paying more than 30 percent of their wages on a two-bedroom rental, according to an analysis by Trulia. Financial experts often recommend spending no more than 30 percent of wages on housing expenses.

Click here for entire report...

Daily Real Estate News | Monday, November 10, 2014

Definite Benefits of Home Ownership

The Benefits Of Home Ownership

The decision to purchase a home is exciting and a major investment for your future.  Because there is only so much of it to go around, real estate is the top choice for many investors and the desire for most families.  This article is designed to highlight some of the many benefits of home ownership and how buying a home can often turn the American Dream into a reality.

One of the most profitable markets in real estate is rentals, which means that many families are paying to live in a home that isn't their own.  In some cases, renting a home is necessary.  For all others, the money that would be spent on rent could instead be used to pay a mortgage.  In fact, monthly rent payments often exceed that of a typical mortgage payment.  One of the greatest benefits of home ownership is putting money into something that you can call your own and knowing that the monthly payments are going toward your home's equity.

Speaking of equity, many properties experience a growth in value as more development moves into the area or the economy strengthens through an increase in job opportunities.  If this happens, home values soar and owners can bask in the glory of their newfound profit.  When you purchase a new car, it depreciates the moment that you drive off of the lot.  When you buy a home, however, it has the potential to appreciate year after year.  There are few things in life that can offer you a return above and beyond your original purchase price, but a home can.

When you own a home, you will enjoy the freedom of decorating and making any changes that you choose without needing the permission of a landlord or property owner.  In addition, you may even be able to use your home's equity to finance some needed improvements and/or repairs.  In some cases, these changes may even increase the value of your home.  An upgraded kitchen or bathroom, hardwood flooring or an additional room are examples of changes that could result in added value.

Another advantage of home ownership is the tax benefits that are available.  The interest paid on a home mortgage as well as most property taxes paid are tax deductible.  For additional information on deducting mortgage interest and property tax, consult the IRS or a tax professional.

In addition to providing yourself and your family with a feeling of stability and permanence, home ownership can also help strengthen your credit profile through timely mortgage payments and a steady financial history.

Home Sales Report 3rd Quarter -Salt Lake County

SALT LAKE Q3 HOME SALES REPORT

Sales of single-family homes in Salt Lake County were down 3 percent in the third quarter (year-over-year), according to the Salt Lake Board of Realtors® Quarterly Home Sales Report.

In the first nine months of 2014 single-family home sales in Salt Lake County dropped 5 percent compared to the first nine months of 2013.

Other surrounding counties saw a rise in Q3 home sales: Davis County (up 10 percent); Tooele County (up 9 percent); Utah County (up 2 percent); and Weber County (up 10 percent).

“The slowdown in home sales in Salt Lake County is tied to the area’s higher median home price,” said Angie Domichel Nelden, president of the Salt Lake Board of Realtors®.

“Salt Lake County’s median home price in the third quarter was $257,000, considerably higher than Davis or Utah counties where the median home p rice was $230,000 and $243,000 respectively.”

In the third quarter the median home price in Salt Lake County increased to $257,000, a 1 percent rise compared to a median price of $255,000 in the third quarter of 2013 Courtesy of Salt Lake Board of Realtors® Oct. 28, 2014