Beware of Foreclosure Scam

2008 Stats For Salt Lake County

1. New Listing in 2008: 29,396 (or -16.51% compared to 2007)
2. Average % of New Listings Sold: 36.30% (or -12.12% compared to 2007)
3. Average Asking Price: $337,536 (or -5.19% compared to 2007)

All data provided by the Wasatch Front Multiple Listing Services

Homeowner's HOPE Hotline

Homeowner's HOPE Hotline

Utah Ski Resorts Map

Utah Housing Facts Video

Loan Modification, We Can Help!

The tango Team announces that is currently helping distressed borrowers with their Loan Modifications. Please contact us as soon as possible to see if you are elegible for a Loan Modification. We have experience talking and negotiating to the Banks on behalf of borrowers and we worked Chase, Wellsfargo, Citi Mortgage, Countrywide, Aurora, One, Ocwen, Wachovia, and many more...
Go back to our Web site and fill out one of the seller's forms and clarify in the form that you are interested on a Loan Modification.
We are people helping people!
http://www.thetangoteam.com/seller-info.asp

Check Gas Prices in Utah

Salt Lake City Gas Prices provided by GasBuddy.com

Click here to add this map to your website.

First Time Home Buyers

Meet Matt and Geny, they are taking advantage of this wonderful buyer's market. They are buying a home through The Tango Team. We've nagotiated for them a 11% seller price discount. The seller is paying for all their closing costs, plus a home warranty, and they are thinking about using the $7,500 Buyer's Incentive that the Government is offering.
Congratulations guys!

Real Estate Podcast in Spanish

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Net Migration Is At Record Levels

Utah had about 44,000 people move to the state in 2007.
The state is expected to have about 41,000 new residents in 2008.

Source: Utah Population Estimates Committee
Source: Economic data chart from the state of Utah

Affordable Loans Are Available

For buyers who qualify for conventional financing, mortgages are available at near historically low rates. Click here to see current and historical rates.
FHA programs are a viable alternative to subprime mortgages. In fact, the FHA market share is expected to triple over the next three years, from an estimated 7 percent in 2007 to an estimated 12 percent in 2009.
Even jumbo rates - for loans more than $417,000 - are edging downward.

Source: National Association of REALTORS®

Unemployment Is Low

The Utah unemployment rate has averaged about 2.7 percent over the past year, down from 2.9 percent in 2006.
The U.S. unemployment rate has averaged about 4.6 percent over the past year.
Utah unemployment in 2008 is expected to remain low at 2.9 percent.

Source: Utah Department of Workforce Services

Utahns Are Employed

Utahns' incomes are rising
Utah wages and incomes have been increasing between 5 and 10 percent over the past few years.
Utah wages are expected to increase nearly 5 percent in 2008.
Utahns' personal incomes are expected to rise almost 8 percent in 2008.
In 2007, Utah's average annual pay growth increased 5.5 percent from 2006, exceeding inflation for the fourth year in a row.
Personal income growth was 9 percent in 2007.

Source: Economic data chart from the state of UtahSource: 2008 Economic Report to the Governor

New Jobs Are Attracting New Residents

From December 2006 to December 2007, about 44,800 new jobs were created in Utah.
Utah job growth in December was up 3.6 percent compared to U.S. job growth of 0.9 percent.
Utah's job growth rate in 2007 was estimated at 4.5 percent, compared to 1.3 percent nationally, and no other state in the nation experienced a growth rate that was higher than 4 percent.
Employment is expected to grow 3.2 percent in 2008.

Source: Utah Department of Workforce ServicesSource: 2008 Economic Report to the Governor

Utah's Growth Outpaces The Nation

Utah's growth outpaces the nation
Utah population growth from 2006-07 was 3.2 percent while U.S. population growth was only 0.9 percent during the same time period.
Utah population growth from 2007-08 is expected to be 3.1 percent. U.S. population growth is only expected to be 0.9 percent for the same period.
According to the U.S. Census Bureau, Utah ranked third among states with a population growth rate of 2.6 percent from 2006 to 2007. The U.S. rate of growth was 1 percent.
Source: Utah Population Estimates Committee, Global InsightSource: Economic data chart from the state of UtahSource: 2008 Economic Report to the Governor

Utah Has Strong Economic Fundamentals

UTAH HAS DEMAND FOR HOMES
Utah's population is growing
In 2007, Utah had population growth of nearly 84,500 people, the highest single year increase in the state's history.
Utah's population increased 3.2 percent from 2006 to 2007, the highest growth rate Utah has experienced since the early 1990s.
25,000 to 30,000 new households were formed in 2007.
Utah is expected to add another 84,000 people in 2008.
In 2007, the state added more persons due to natural increase than in any previous year in its history, the result of nearly 54,000 births.

Source: Utah Population Estimates CommitteeSource: Economic data chart from the state of UtahSource: 2008 Economic Report to the Governor

Our Realtor Talking About The Market Condition On A Local Radio Station

Orem Woman Citizen Of The Year

Citizen of the Year: Tye Noorda
Tye Noorda, born Lewena Taylor, began her life in Freedom, Utah, near Moroni. Freedom was properly named: It was free of stores, schools, mail delivery, electricity, after-school activities and any other girls her age. Despite these obstacles, she always wanted to be an actress. During her high-school years, she earned money for college by correcting shorthand papers. She left Freedom the day after graduating from high school and moved to Salt Lake, where she got well-paying secretarial jobs. In addition to working hard for her room and board, she became a leading lady in the Salt Lake Theatre's production of "Seven Sisters." In a series of events, Maude Mae Babcock, former head of the Speech and Drama Department at the University of Utah for 40 years, invited Noorda to live with her. This allowed her to learn quite a bit about speech and drama every evening.
In addition to improving her verbal delivery, she took modeling classes from "Zaz" at the Hotel Utah. After two years of college, she ended up living with and assisting the modeling school. The pair eventually moved to New York City, but Zaz ended up in Hollywood and Tye returned to Salt Lake.
It was there that she met Ray Noorda on a blind date one night before he graduated from the University of Utah. They had four more dates that week before he moved back east to work for General Electric. The two corresponded for a year and were married five days after he came home for vacation. The two had five children, lived in seven areas of the United States, and eventually came back to Utah when Ray took on the job to run Novell. At that time, Novell had only17 employees, but by the time he retired, that number had grown to 12,000.
Ray died two years ago, after 56 years of marriage. Although Tye and Ray Noorda have contributed to more than a few organizations and causes, including SCERA and UVU, she would rather be known for the personal relationships and individual differences that she has made in the lives of those in the Orem community and in the many others of which she has been a part.

Daily Herald

High number of foreclosures has WVC seeking federal funds

Posted: 7:48 PM- West Valley City is one of several local entities seeking a chunk of $19.6 million in federal funding to help with foreclosed homes in Utah.
City officials and housing advocates pleaded Wednesday for a share of the Neighborhood Stabilization Program Fund during an hour-long public hearing on how money would be allocated.
West Valley City officials made a passionate plea, saying the city could lose more than $15 million in property-tax revenue because of its high number of foreclosures.
The Housing and Economic Recovery Act of 2008, which Congress approved in July, contains $3.92 billion in relief, including the Neighborhood Stabilization Program.
There have been roughly 800 foreclosed homes so far this year in West Valley City - Utah's second largest city - comprising half of foreclosed homes valued at less than $200,000, said Claire Gilmore, assistant West Valley City attorney.
The state's Division of Housing and Community Development will allocate the federal cash money but the division won't seek formal funding-request applications, said Gordon Walker, the division director.
State officials are assessing the need for money statewide and will submit a plan for public comment by Nov. 15. A Dec. 1 deadline is in place to submit plans to the U.S. Department of Housing and Urban Development (HUD).
West Valley City also has the highest percentage of low-to-moderate income families, Gilmore said.
"We can take these funds and do great things with them immediately," Gilmore said Thursday. "We can start rehabbing those properties tomorrow."
For example, Gilmore said West Valley used federal money in 2002 to revitalize Harvey Street, where aging homes were demolished and a new neighborhood was built for low-to-moderate income families.
City officials plan to use the funding for similar projects, Gilmore said.
Federal money can be used to refinance troubled mortgages; buying and rehabilitating homes; buy homes to be used for low-income housing; and redevelop demolished or vacant properties, Walker said. Funding will not be spent on high-end properties, he said.
If HUD approves Utah's plan, the first funding allocations could be filled by mid-January, Walker said Thursday. All the money must be allocated and spent by summer 2010, he said.
"It's in everyone's best interest on moving this money forward," Walker said.
In September, owners of 1,746 Utah properties received some type of foreclosure-related filing - up almost 114 percent from September 2007, according to RealtyTrac, a company that tracks the foreclosure market nationwide. The company reported one in every 516 Utah households received such a filing last month.
Even though West Valley City expects to lose revenue from foreclosures, Gilmore said the city has ideas and programs to cope.
Still, without federal funding, the city wouldn't "be able to do it as effectively," she said.
"At the end of the day, we're going to lose some neighborhoods without the money," she said। "There won't be anything we can do about that." -JULIA LYON contributed to this story.

By Jennifer Sanchez
The Salt Lake Tribune

Trick or Treating

I showed a home last week in Springville, Utah and the sellers had this posted on their refrigerator.

Who Is Your Listing Agent?

This graph shows how much more exposure you receive when your home is on the market with the leading company in Real Estate. Alexa.com is a Web Information Company that tracks how many clicks each company has.
Choose the best, choose RE/MAX.

Tango - Amazing!

OMG! What a Great Couple!

It Really Takes Two to Tango!

Al Pacino - Scent of a Woman

More Tango (Piazzolla - Yo Yo Ma)

What a Great Dance!

The Mayan Restaurante

I went to the Mayan Restaurante for the first time last week and I loved it!
Here is an article from By Lyndsey Kocher, About.com

The Bottom Line
The Mayan Restaurant Adventure Salt Lake City is aptly named as this is more than just a dining experience. Live diving, fire dancers and animatronics galvanize the audience into cheers and whistles as they applaud the performers. It's an interactive, fun-filled show combined with excellent Latin American food that will make you come back for more.

Pros
Live diving, animatronics and fire dancers add adventure to your meal.
Updated menu is flavorful, affordable and varied.
Three-tiered seating gives most diners a front-row seat without reservations.
Jungle theme and explorer artifacts liven the atmosphere.
Nearby theater complex completes your evening out on the town.

Cons
There is a long wait on the weekends and a half-hour wait on weekdays.
Parking can be crowded if the theater has a popular show playing.
Large groups may not be seated in sight of the diving and show platform.
Young children might be frightened by the sound effects.
Strobe lighting is used during the shows if you are sensitive.

Daybreak, South Jordan, UT

Everything You Need to Know About Daybreak:
Lot & Builder Questions
Park & Open Space Questions
Amenity & HOA Questions
Church Questions
Lake Questions
Environment Questions
Who are the Residents at Daybreak?
Access to Daybreak Questions
Commercial Real Estate
Daybreak Elementary & Community Recreation Center

Visit Salt Lake City, Utah

Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake or SLC. Salt Lake City has a population of 180,651 as of 2007.[3] The Salt Lake City metropolitan area spans Salt Lake, Summit and Tooele counties, and has a total estimated population of 1,099,973. Salt Lake City is further situated in a larger urban area known as the Wasatch Front and is part of the Salt Lake City-Ogden-Clearfield CSA that has an estimated population of 1,686,703. The total estimated population of the Wasatch Front is approximately 2,150,000.
The city was founded in 1847 as Great Salt Lake City by a group of Mormon pioneers led by their prophet, Brigham Young, who fled hostility and violence in the Midwestern United States. They extensively irrigated and cultivated the arid valley and faced persecution from the U.S. government for their practice of polygamy, which was abandoned in 1890. Today, Salt Lake City is still home to the headquarters of The Church of Jesus Christ of Latter-day Saints (also known as the Mormon Church). Mining booms and the construction of the first transcontinental railroad initially brought economic growth, and the city was nicknamed the Crossroads of the West. Salt Lake City has since developed a strong outdoor recreation tourist industry based primarily on skiing. Salt Lake City was host to the 2002 Winter Olympics and is the industrial banking center of the United States.[4]

From Wikipedia

Distressed Homes Get a Feng Shui Lift

Distressed Homes Get a Feng Shui Lift
Enlisting a feng shui expert for a spiritual housecleaning may help move a distressed home. Here's how it works.
By Wendy Cole

Sellers in financial distress require something extra from real estate practitioners. Facing a short time to sell before foreclosure and sometimes prickly negotiations with lenders, some listing agents are turning to the growing cadre of stagers who employ the ancient Chinese technique of feng shui to dissipate the negativity of financial woes.

Proponents say feng shui can remove the disquieting vibes that overwhelm such homes by balancing the negative energy emitted by the property’s objects, places, colors, circumstances, and even residents.

Buyers may not recognize this spiritual housecleaning beyond the subconscious level, but it still has a positive effect, say Katrine Karley and Pandora Seibert, co-owners of Professional Staging with Feng Shui & Design, in Sarasota, Fla. Sellers who aren’t financially stressed themselves but who live in a neighborhood studded with foreclosures can also benefit from an energy or chi realignment, the pair explains.

“I’m a believer,” says Wendy Kay Foldes, broker-associate with Cityscapes International Realty Group in Sarasota. “The first time I worked with Karley to add feng shui to a difficult listing, it sold to the very next person who looked at it.”

The two-bedroom condo had been on the market for two years without an offer. Karley immediately shifted the furniture to create a configuration “with better flow,” she says, and added red flowers and place mats that energized the black and white decor. It sold the next day.

Feng shui has a place in every facet of real estate marketing, says Karley. Yard signs should be placed at eye level (rather than close to the ground) on the right side of the yard as you face the property. This positioning will help draw in buyers. Attaching a 3-inch round mirror to the sign brings two additional benefits: By facing out toward the street, the mirror brings more energy to the property. By catching the eye, it holds a potential buyer’s attention to the property longer.

For sellers facing severe financial woes, she advises that 27, yes 27, items—from couches to ceramic figurines—be rearranged within the home. “The digits add up to nine, which is considered powerful. Doing this should help money flow toward a house,” says Karley.

In homes that are still occupied, feng shui stagers remove physical clutter and perform what they call a spiritual “space clearing” using bells, chimes, incense, chanting, and sometimes rice to purify a space and change the chi from negative to positive vibration.

“Blessing or chanting removes negative energy and is a form of clearing out the old ‘stuff’ we sometimes call ‘hungry ghosts,’” explains Karley. “The chanting is to move good energy around the property.”

If all that sounds a little too “new age” to you, Karley tells of one Florida builder who had nine homes on the market for about nine months and was getting desperate. The bank was closing in on him, so he figured he’d try feng shui in an attempt to salvage his subdivision.

“Time was of the essence because the bank wasn’t willing to wait any longer,” explains Karley. She made numerous visits to the properties for blessings to remove the fear and misfortune that had befallen them. She used a technique called “tracing the nine stars,” in which feng shui practitioners place nine small round mirrors in the nine power places on the property. “We also concluded that the entrance to the subdivision needed a water element, so the developer installed one,” recalls Karley. Water is synonymous with power and money, according to feng shui principles.

The various measures seemed to help. Within 45 days of Karley’s arrival, seven of the nine homes were sold. Other than the feng shui actions, nothing else was done to enhance the subdivision’s appeal.

“The buyers got ‘positive’ homes that felt great to them, and the developer survived,” says Karley. Hiring a feng shui expert may cost several hundred dollars for a preliminary consultation or $1 per square foot for a total energy overhaul, but improving a home’s inner harmony may well be worth the price. By Charimaine Engleman-Robins, a sales associate with Hunt Real Estate of Florida in Sarasota, Fla.

Questions to Ask Your Feng Shui Practitioner
What type of feng shui do you practice? (Some forms focus on issues of energy and direction, while others rely more on Chinese astrology and numerology.)
How long did you study? (Most certification programs take two years.)
How much experience do you have?
What kind of projects have you completed?
What references can you provide?

Also, ask yourself if you feel comfortable with the person. Your own instincts about the practitioner count for a lot.

Wendy Cole is a senior editor of REALTOR® magazine. She can be contacted at wcole@realtors.org.

Regulators Crafting New Anti-Foreclosure Plan

Federal regulators are reportedly working hard to come up with a plan that will provide guarantees for up to $600 billion of home mortgages aimed at encouraging lenders to refinance at-risk mortgages.The Federal Deposit Insurance Corp. and the U.S. Treasury Department are working with the White House and other policymakers to create a new, strong foreclosure prevention plan, but no announcements have been made.Knowledgeable sources say the FDIC would manage the program, which could guarantee up to 3 million at-risk mortgages. The program would also cover second mortgages and home equity lines of credit, so lenders would be protected from these losses and be more willing to participate.The program would induce lenders to lower monthly mortgage payments through lower principal, term or interest rate, for a period that would likely be five years, said a source familiar with the discussions.

Source: Reuters News, Rachelle Younglai and Karey Wutkowski (10/29/2008)