Archive for October, 2009

Salt Lake City Homes: When looking at Salt Lake City Homes, search within your pre-approved price range.

Friday, October 16th, 2009

This may sound obvious, but here it is anyway.  Salt Lake City home buyers should look within their pre-approved price range. 

 

Here are some of the reasons I can think of:

  1. Why waste your time looking at Utah homes you can’t afford?
  2. Sometimes Salt Lake City home buyers qualify for more than they really want to spend.  What will you cut back in your budget for that more expensive home?
  3. You might miss out on a home within your price range that you didn’t see because you were wasting your time looking at ones you can’t afford.
  4. Why set yourself up for disappointment looking at homes you can’t afford?
  5. Sellers go out of their way to allow you to see their home, why inconvenience them?  If it’s an open house and you’re actively looking, take a look.
  6. Looking at homes is not a sport or a hobby. Go ride a bike, read a book, go to a movie and have fun!
  7. OK honestly, I can see if you can afford $200,000 that you might look at Utah homes up to $210,000 for purposes of negotiation, but beyond that probably not.

If you need help with the purchase of a Salt Lake City home, condo or duplex, please contact me.  I’ve been a Salt Lake City realtor for over 10 years and this year so far, 80% of my clients have been Buyers of homes and condos in the Salt Lake City metro area.

 

Kevin

 

Kevin Coyle

Realtor, Associate Broker, MBA

SLCHomes Real Estate

Mobile: 801-243-0699

Office: 801-466-8977

Kevin@SLCHomeBuyer.com

Salt Lake City condos: New FHA Financing requirements for condos go into affect November 2, 2009.

Tuesday, October 6th, 2009

FHA has delayed the changes to the requirements for financing condos out to November 2, 2009.  The date was October 1, 2009.

This will still likely have a negative effect on the value of Salt Lake City Condos, but some condo projects will be effected more than others.

I recently put a value on a condomimium in an upscale condo project where units are selling for $250,000 to $325,000 and noticed that all of the units that sold in that complex this year were purchased with conventional financing.  It seems like a unit in that complex would be effected less by these changes.

Time will tell how the value of Salt Lake City condos are effected by these changes.  Some projects will be effected more than others.