UNBELIEVABLE RATES

FYI interest rates are at 3.875% today!!!  That is as low as I have ever seen them.  On a $200,000 mortgage the difference between a 3.875% rate and a 5% rate is $133 a month. 

RENTING VS BUYING THE PROS & CONS

So many of you find yourselves asking yourself should I continue to rent or should I go ahead and buy.  One of the main things to think about is do I have the finances to buy a place and am I ready for that committment.   Below is a list of the pros and cons to buying a home vs renting a home.

PROS FOR RENTING
You are flexible to move around.  After your lease is up you are able to move without having to sell your home.
Your money is not tied up.  If something happened and you needed cash it wouldn't be tied up in your home.
Typically if an appliance or something else breaks the landlord is responsible to fix it.

CONS FOR RENTING
There is a chance that the landlord could sell the property without you knowing.
You are typically not able to remodel, paint, or make the place your own.
If home prices are going up you are not building equity from owning a home.
Your rent is not tax deductable.

PROS FOR BUYING
Part of your motgage payment is tax deductable which could save you thousands each year.
You are able to remodel or fix up your house any way you want to.
If the market goes up you are building equity.
You feel great about owning and you don't have to worry about a landlord or even getting the property sold without you knowing.
Getting a loan and making your mortgage payment each month is a great way to build your credit.
There are some great prices on homes and interest rates are honestly at an all time low. 


CONS FOR BUYING
You have more responsibilities such as yard work, a mortgage, and taxes.
In a bad market the home could depreciate.
You are not as flexible.  If you want to move most likely you would have to sell your home.


If you are deciding to whether it is a good time to buy or if you want to continue to rent this is a decision you should take seriously.  There are pros and cons to each and you just need to figure out if you can afford a home and if you are ready for the committment. 

HIGHLAND LOT FOR SALE

I have listed a lot in Highland in the Country French Estates Subdivision.   It is .90 acres and is next to a .38 acre easement where no one can build on it.  This means the neighbors will not be too close.  You can use any builder you like to build your dream home in this subdivision filled with custom homes.
.90 Acres
.38 Easement Next Door
$280,000
MLS #1028953

FORECLOSURES DROP 30%

So it is no secret that real estate market is not at its peak.    People are still losing jobs, in some areas home prices are still declining, and Utah still has one of the highest foreclosure rates in the nation.  KCPW News reported that the number of foreclosures in Utah fell 30% since April of 2010.  Although Utah is still not out of the woods when it comes to foreclosures it appears we may be headed in the right direction.  To read the full article from KCPW News go to the following link.  http://kcpw.org/blog/local-news/2011-05-13/foreclosures-drop-30-percent-since-last-april/

CHARMING BOUNTIFUL HOME WITH LOTS OF CHARACTER

Just listed a home in bountiful with lots of character.

Copy and paste link below for a tour.
http://www.visualtour.com/show.asp?t=2464822&prt=10003


336 Center St. Bountiful, UT 84010

• 3400 Sq Ft
• 3 Bed 2 Full Baths
• Brand New Roof
• New Carpet, Flooring, & Paint
• 2 Car Garage
• Tons of Character 
• Wood Work & Stain Glassed Windows
• $194,900

2011 HOUSING FORECAST

Once of the most asked questions I receive is "What do I think will happen to housing prices?"  Each year the Salt Lake Board of Realtors releases a housing forecast for the current year.   Although predictors don't know exactly what will happen to housing prices they give a educated guess.  The Salt Lake Board of Realtors said that since there has been 3 years of steep housing price declines that current declines are not as steep.  They predict that for the first 2 quarters of the year prices will stabilize and that during the last 2 quarters of the year home prices will slowly begin to rebound.  Click below to read more info about the forecast.  One link is the actual forecast if you are interested in watching.

http://www.ksl.com/?nid=148&sid=13965179
http://www.slrealtors.com/live/

HILL CREEK CONDO

I just listed a really nice condo in Fort Untion in the Hill Creek Condos.  Let me know if you have questions.

• $122,900
• 2 bed 1 bath
• 980 sq ft
• gas fireplace
• vaulted ceilings
• large master bedroom
• updated kitchen
• 3 tone paint
• pool, tennis court, & clubhouse 

CLICK FOR A TOUR  http://www.visualtour.com/shownp.asp?t=2374129&prt=10003
OPEN HOUSE SAT. JAN 22nd 11 to 2