Thursday, March 31, 2011

Improve your home for $1000 or less

Reclaim Your Garage, $1,000
Many homeowners have a no-car garage because it's so full of stuff that there's no room to park a vehicle. Look for a slatwall system that uses molded plastic panels with slots from which you can hang hooks, shelves and baskets. Fasten the panels to your garage walls via one of several methods, such as drywall screws into studs.
You can order a starter kit directly from manufacturer storeWALL ($529 at www.storewall.com). The kit includes six panels (4 feet by 15 inches) totaling 30 square feet, plus two shelves with brackets, two shoe shelves, six hooks, two baskets, trim, caulk and screws. At www.mygaragestore.com you can buy individual storeWALL components (six 4-foot panels totaling 30 square feet for $189, or four 8-foot panels totaling 40 square feet for $283), as well as hooks ($6 to $19), baskets and shoe shelves ($18 to $59), and shelving ($49 to $60).
MyGarageStore.com also sells kits for different applications, such as the WorkCenter kit, with an assortment of shelves, bins and racks for tools and hardware ($130), the Golf Sports kit ($72) and the Bike Sports kit ($39). And put the overhead space to use, too. Lift and store bicycles, canoes and bins of gear using a Harken ceiling hoist. A manual hoist ($29 to $180 at www.mygaragestore.com) can lift from 45 to 250 pounds; an electric one, from 70 to 220 pounds ($169 to $229).

This is just one of the ideas listed in the article I found this on.  Click Here to find other ideas including: Make Over Cabinets, Create An Office Nook, Organize your Closet, Replace a Window, Hard-Wire a Room, ReMake an Entrance, and Update your Lighting.

Monday, March 28, 2011

Weekly News and Tips

Today's Weekly News and Tips Features Mobile Phone banking tips to keep you information safe, and what's happening with rates?

Click Here

Wednesday, March 23, 2011

LO Compensation Fed Rule Scandal

The Fed Rule on LO compensation was written and is based on four reports. Two were pro-broker and two were anti-broker. Well the Fed has opted to ignore the more scientific pro-broker studies, in favor of one extremely shallow study, and another that was conducted by two billionaires that got rich in the sub-prime market who now head the Center for Responsible Lending (CRL). Really? Yes really. Honestly this is going to make you sick. It won’t surprise you at all, but it will once again, greatly disappoint you in the “good ol’ boy club” we know as our Government.

Monday, March 21, 2011

Home Equity Lines of Credit (HELOC's) and Your Credit Score

What You Need to Know and Do
Credit reports have always been important, but they’ve grown even more important in recent years. Now more than ever, you need to make sure you understand what’s on your credit report - and you need to know what steps you can take to improve your score.
For example, did you know that a Home Equity Line of Credit (HELOC) can impact your credit score quite dramatically... and sometimes unfairly... depending on how it is reported?
Here’s What You Need to Know... and Do!
First, you need to know that HELOC’s are commonly reported by the three credit bureaus as revolving accounts. In reality however, they do not fall under the typical revolving terms, even though they are set up in the same way as a revolving account. That’s because HELOC’s are secured by an asset.
Here’s the Good News...
The Fair Credit Reporting act requires reporting agencies to report true and accurate information. So when a HELOC is reported as a revolving account, you can actually send a letter to the three credit bureaus asking them to change the type of account from "Revolving" to "Line of Credit" or "Other."
This way, the account will not be rated by the scoring system using the "Balance to Limit" ratio scenario - which can drop a credit score by as much as 75 points if the HELOC is maxed out to the limit of the available credit line.
A Final Word of Advice
If you do decide to send a letter, you should send it as a Certified Letter, along with a copy of the HELOC agreement. You may have to send the letters more than once, but persistence is the key to accomplishing a positive result with the bureaus.
This article was adapted from information provided by national credit expert Linda Ferrari, author of "THE BIG SCORE: Getting It and Keeping It, Buying Power for Life." Learn more and check out her credit resources at www.lindaferrari.com

Wednesday, March 16, 2011

Lender Slush Funds

I have been talking about how the new Loan Officer Compensation rule will cost the borrower more to get a loan and limit their options.  The below video explains why the rule will create a Slush Fund and why.

Senators Rally to Delay LO Compensation Fed Rule

Monday, March 14, 2011

Monday Morning News & Tips

This weeks News and Tips features Daylight Savings facts and how the bond market faired with the earthquake last week in Japan. - Click Here

Thursday, March 10, 2011

Why buy an investment propoerty?

WHY BUY AN INVESTMENT PROPERTY? We can make money three ways when buying an investment property: appreciation, rental income, and tax deductions. Investment property tax deductions are SOOO AMAZING! This link is to share with you the value of investment property tax deduction and how it works.

Click Here

Wednesday, March 9, 2011

FHA Energy Efficient Loans

This Video discusses the FHA Energy Efficient Mortgage.  This product enables new home owners to update all the energy features of the home and roll them into the mortgage without having to get a higher appraised value.  The energy savings on your utility bills will save a home owner a lot each month.

The FHA Energy Efficient Mortgage (EEM) Niche

Tuesday, March 8, 2011

Weekly Industry News and Tips

Here is the link for the Weekly Update. This week features the new tax changes for Energy Efficient improvements to your home in 2011 vs the previous 4 years.  Also, I discuss the economy and how it is effecting rates now and in the future.

If your link doesn't work, you can copy and paste the web address below into your browser.

Thursday, March 3, 2011

Utah Grant Program List

My Realtor friend, Christine Alleman, put together this updated Grant list for Utah.  I hope this helps everyone in the Real Estate Process:

There are many different grant programs to choose from. Many of these programs do run out of money so you’ll need to check to see if they have funds available. The grant programs will vary in how much they give and what there guidelines are. The following is a list of grant programs and contacts. Please feel free to give me a have any question or if you are looking for a home.

Utah County
To qualify a house must be within the Utah County Consortium of Cities:
Lehi, Lindon, Orem, Payson, Pleasant Grove, Spanish Fork, Springville, Unincorporated Utah County.
The maximum loan for a home 29 years or newer is $5,000 and the maximum amount for a home older than 30 years is $10,000.

Utah Loan to Own: http://loantoown.net/

Provo City Only. Home Purchase Plus: Up to $20,000 available in Pioneer Neighborhoods and Central Business District $10,000 available in all other areas of Provo.

Provo Redevelopment: http://www.provo.org/redev.housingassistance.html

Contact:
Provo City Redevelopment Agency
250 West Center Street
Suite #340
Provo, Utah 84601
Phone: 801-852-6160 begin_of_the_skype_highlighting              801-852-6160      end_of_the_skype_highlighting
Fax: 801-375-1469

Ogden City
Contact:
Community Development Division
Attn: Cheryl Hurley
2549 Washington Boulevard Suite 120
Ogden, Utah 84401
Phone: 801-629-8906 begin_of_the_skype_highlighting              801-629-8906      end_of_the_skype_highlighting
http://www.ogdencity.com/

West Valley City
Down Payment Assistance Program
West Valley City provides down payment assistance to first-time home buyers purchasing a home within the West Valley City limits.

Contact:
West Valley City Housing Authority
Attn.: Carol Landgraf
3600 Constitution Blvd.
West Valley City, UT 84119
(801) 963-3369 begin_of_the_skype_highlighting              (801) 963-3369      end_of_the_skype_highlighting
(801) 963-9518 (fax)
http://www.wvc-ut.gov/

Magna

Magna Housing Trust Fund
The Community Development Corporation of Utah (CDC) offers up to $10,000 or 6% of sale price, whichever is lower, in deferred loans to help finance the purchase of homes in the Magna and Kearns area. The loans are available to first-time home buyers to use for down payment assistance.
Contact:
Community Development Corporation of Utah
501 E. 1700 South
Salt Lake City, UT 84105
(801) 994-7222 begin_of_the_skype_highlighting              (801) 994-7222      end_of_the_skype_highlighting ext. 200
(801) 994-7220 (fax)
www.cdcutah.org

CDC Downpayment Assistance
Salt Lake CountyThe Community Development Corporation of Utah (CDC) offers down payment assistance grants to first-time home buyers in Utah, which can be used toward down payments, closing costs, or principal reduction. The amount of the grant is dependent on the location of the home. Only certain geographical areas have down payment assistance available. The current areas are Salt Lake City, Magna, Kearns, Sandy, and Taylorsville.
Contact:
Community Development Corporation of Utah
Attn.: Catrina Duck
501 E. 1700 South
Salt Lake City, UT 84105
(801) 994-7222 begin_of_the_skype_highlighting              (801) 994-7222      end_of_the_skype_highlighting ext. 200
(801) 994-7220 (fax)
www.cdcutah.org

NeighborWorks Down Payment Assistance Grants
Salt Lake CountyNeighborWorks Salt Lake offers up to $10,000 in down payment assistance grants to first-time home buyers purchasing single-family homes in targeted neighborhoods within Salt Lake (see map). To earn the full $10,000, buyers must remain in the home for 10 years.
Contact:
NeighborWorks Salt Lake
Attn.: Lilian Hernandez
622 W. 500 North
Salt Lake City, UT 84116
(801) 539-1590 begin_of_the_skype_highlighting              (801) 539-1590      end_of_the_skype_highlighting
(801) 539-1593 (fax)
lilian@nwsaltlake.org
www.nwsaltlake.org

Did you know?

DID YOU KNOW?
-Home owners are happier and healthier and enjoy a greater feeling of control over their lives.

-Home owners pay 80% to 90% of federal income taxes, contributing to federal programs that benefit all Americans.

-Every home purchased pumps $60,000 into the economy for furniture, home improvements, and related items.

-Housing accounts for more than 15% of the national Gross Domestic Product, a key driver of our national economy.

-Owning a home is a one of the best ways to build long-term wealth. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter.

-People who own their homes vote more

Housing prices are better than ever today! If you are looking to move, call me today so we can get started!