The Tango Team..InRealEstateItTakesTwoToTango

Home Sales Soar in Last Year's 4th Quarter

2010-01-27T16:40:00.000-07:00

Sales of existing single-family homes in Salt Lake County surged in last year’s fourth quarter, ending a three-year decline in falling home sales, according to the Salt Lake Board of Realtors’ Housing Market Report.

Overall, more than 2,400 single-family homes were sold in the fourth quarter, a 36 percent increase compared to 1,785 sales in the same quarter in 2008. Home sales also showed a 19 percent gain in the month of December compared to the same month a year earlier.

“Nearly every ZIP code in Salt Lake County saw double-digit increases in home sales,” said Bill Heiner, president of the Salt Lake Board of Realtors. “Existing home sales are surging because of more affordable home prices and the federal government’s home buyer tax credit. In addition, there are fewer newer homes being built. Because of that buyers are turning to existing inventory.”

Single-family home sales were up 113 percent in Holladay in the fourth quarter compared to last year. In Midvale, sales rose 109 percent. In Draper, sales were up 52 percent. In West Valley, home sales climbed 38 percent.

In the 12 months ended Dec. 31, there were 9,146 single-family homes sold in Salt Lake County, up 4 percent compared to 8,796 sales in 2008. The rise in home sales in 2009 ends a three-year downturn in annual single-family home sales and suggests that the bottom of the housing market occurred in 2008.

Home sales in 2010 could reach as high as 10,000 units sold, a nearly 10 percent rise over 2009 levels, according to a 2010 Housing Forecast commissioned by the Salt Lake Board of Realtors.

Condominium sales across Salt Lake County also showed huge increases. In the fourth quarter, there were 544 condos sold, up 42 percent compared to 384 sales a year ago.

Across the Wasatch Front, sales of single-family homes also surged. Sales were up 26 percent in Davis County. In Tooele County, sales increased 61 percent. In Utah County, home sales were up 46 percent. In Weber County, sales rose 19 percent.

“The anticipated expiration of the first-time home buyer tax credit brought strong support to Wasatch Front housing markets,” said Lerron Little, 2010 president of the Utah Association of Realtors. “Utah County home sales were particularly strong as buyers found affordable home options and good values. The area’s increase in single-family and condo sales was the highest on fourth quarter records dating back to 1996.”

The past housing downturn in Salt Lake County ranks No. 2 in terms of its severity, according to the Salt Lake Board of Realtors. The area’s most severe housing downturn began in 1977 when home sales fell by 55 percent over a four-year period.

Info provided by realestatenewsutah.com

Salt Lake Board of Realtors Releases 2010 Housing Forecast

2010-01-27T16:36:00.000-07:00

The Salt Lake Board of Realtors released its 2010 Housing Forecast. After two very difficult years, existing home sales in Salt Lake County are poised for a rebound.

The past housing downturn ranks No. 2 in terms of its severity, according to the report. Beginning in 1977 Salt Lake County experienced a housing downturn that lasted four years, with home sales falling 55 percent.

The latest downturn lasted two years, but was vicious in its magnitude. Between 2007 and 2008 home sales dropped 42 percent, falling from 15,300 home sales to 8,800 home sales. However, in 2009 home sales increased to 9,100 sales, a 3 percent increase compared to 2008.

The increase in home sales in 2009 suggests that 2008 was the bottom of the downturn. In 2010, as many as 10,000 homes could be sold in Salt Lake County, a nearly 10 percent increase compared to sales in 2009.

Since the peak, single-family home prices have retreated 13 percent. Local housing prices will continue their drift downward in 2010, falling another 3 to 5 percent, the report noted. At the end of the fourth quarter, the median price of a single-family home in Salt Lake County was $222,000, down 13 percent compared to $255,000 at the peak of the market (third quarter 2007).

The Salt Lake Board of Realtors commissioned James Wood, economist and director of the University of Utah’s Bureau of Economic and Business Research, to conduct the study. For a complete copy of the study, please contact Dave Anderton, communications director of the Salt Lake Board of Realtors at 435.671.0777.

Tax Credit Extended to April 30, 2010.

2009-11-07T04:28:00.002-07:00

By Les Christie, CNNMoney.com staff writer
November 6, 2009: 3:18 PM ET

NEW YORK (CNNMoney.com) -- President Obama signed an extension and expansion of the first-time homebuyers tax credit on Friday.

The $8,000 credit was scheduled to lapse on Dec. 1 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30 and close by June 30. The income limits were also raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.

The bill also made more homeowners eligible to claim the credit on their taxes. First-time buyers -- those who have not owned a home in the past three years -- still qualify for an $8,000 rebate. But now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.

"The new version of the tax credit has the potential to stimulate the housing market even more than the old version due to the fact that more people will qualify under the new rules," said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.

Who qualifies?
Nicholas provided four scenarios illustrating how the tax credit rules for existing homebuyers will apply:

• Harry owned a home in 2001 and 2002 but sold it to relocate for a job. He would qualify for the $8,000 first-time-buyer credit because he has not owned a home in the past three years.

• Sue purchased a home in 2004 and has lived there since. If she decides to buy a new home, she would qualify for the $6,500 tax credit because she has lived in the same residence for five consecutive years in the past eight.

• Jane purchased her home in 2002, lived there for five consecutive years before she rented it out in 2007. She would qualify because she was an owner/occupier for at least five consecutive years in the past eight.

• Mark purchased a home in 2006 and lived there for the past three years. He would not qualify because he is neither a first-time homebuyer nor someone who lived in the same primary residence for five consecutive years out of the past eight.

Coldwell Banker CEO on Housing Upturn

2009-08-11T15:56:00.001-06:00

Coldwell Banker CEO on Housing Upturn

Shared via AddThis

FHA ARMS priced very aggressively!

2009-07-09T11:48:00.001-06:00

The Bond Market has been highly volatile this morning, as traders take profits from yesterday’s gains. I have seen several price changes for the worse.
FHA ARMS are pricing very aggressively. Take a look in the FHA section.
Have an amazing day!!

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 5.125% APR 5.345%
15 yr. Fixed – 4.750% APR 4.970%

JUMBO (Loan amounts above $417,000)
30 yr. Fixed – 5.375% APR 5.595% (to $625,500 10% down) SL, Tooele, Summit Counties)
30 yr. Fixed – 6.125% APR 6.345% (to $700,000 20% down)
30 yr. Fixed - 6.375% APR 6.595% (to $850,000 25% down)
30 yr Fixed – 6.625% APR 6.825% (to 1,500,000 35% down)

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 5.000% APR 5.500% with 740+ FICO
30 yr. fixed – 5.000% APR 5.500% with 620+ FICO
15 yr. Fixed - 4.375% APR 4.875%
3 yr. ARM - 3.750% APR 4.250% with 740 FICO
5 yr. ARM - 4.125% APR 4.625% with 740 FICO

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)
30 yr. Fixed – 5.250% APR 5.750% with 660+ FICO

UTAH HOUSING
30 yr. Fixed - 5.430% APR 5.930% (Rates announced Friday afternoons)

RURAL HOUSING
30 yr. Fixed - 5.375% APR 6.000%
30 yr Fixed – 5.250% APR 5.750% with .25% discount

0 Home Run Grants remaining. *****

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620/660/740 FICO for FHA Loans

Info provided by Graystone Mortgage

Somewhat Good News in the Real Estate Market

2009-06-30T11:40:00.003-06:00

The Bond Market is off a bit this morning after a better than expected housing reports. A report of the top 20 cities in the US indicated that the decline in housing prices may have leveled – and even begun to rise in Dallas and Denver. This is VERY good news and caused a run in the Stock Market. As you know, a run in the Stock Market often pulls money out of the Bond Market. However, we should be very happy to hear that kind of news.

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 5.250% APR 5.595% with .125% discount
15 yr. Fixed – 4.750% APR 4.970%

JUMBO (Loan amounts above $417,000)
30 yr. Fixed – 5.500% APR 5.720% (to $625,500 10% down) SL, Tooele, Summit Counties)
30 yr. Fixed – 6.125% APR 6.345% (to $700,000 20% down)
30 yr. Fixed - 6.375% APR 6.595% (to $850,000 25% down)

THERE ARE BIG VARIACES IN JUMBO PROGRAMS AND RATES.
CALL ME TO DISCUSS YOUR SCENARIO.

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 5.250% APR 5.750% with 620+ FICO
30 yr. fixed – 5.000% APR 5.500% with 740+ FICO
15 yr. Fixed - 4.500% APR 5.000%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)
30 yr. Fixed – 5.375% APR 5.875% with 660+ FICO

UTAH HOUSING
30 yr. Fixed - 5.350% APR 5.850% (Rates announced Friday afternoons)

RURAL HOUSING
30 yr. Fixed - 5.500% APR 6.000%

0 Home Run Grants remaining. *****

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620/660/740 FICO for FHA Loans

Info provided by Graystone Mortgage

Interest Rates

2009-06-25T11:10:00.002-06:00

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 5.375% APR 5.595%
15 yr. Fixed – 4.875% APR 5.095%

JUMBO (Loan amounts above $417,000)
30 yr. Fixed – 5.625% APR 6.095% (to $625,500 10% down) SL, Tooele, Summit Counties)
30 yr. Fixed – 6.125% APR 6.345% (to $700,000 20% down)
30 yr. Fixed - 6.375% APR 6.595% (to $850,000 25% down)

THERE ARE BIG VARIACES IN JUMBO PROGRAMS AND RATES.
CALL ME TO DISCUSS YOUR SCENARIO.

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 5.375% APR 5.500%
30 yr. fixed – 5.250% APR 5.500% with 740+ FICO
15 yr. Fixed - 4.500% APR 5.000%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)
30 yr. Fixed – 5.500% APR 6.000% with 660+ FICO

UTAH HOUSING
30 yr. Fixed - 5.350% APR 5.850% (Rates announced Friday afternoons)

RURAL HOUSING
30 yr. Fixed - 5.500% APR 6.000%

0 Home Run Grants remaining. *****

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620/660/740 FICO for FHA Loans

Info provided by Graystone Mortgage

Come and buy in Utah

2009-06-06T17:20:00.002-06:00

This is a great time to buy again. Utah keeps growing and we are here to help buyers and sellers to reach their goals! Give us a call 801-372-7874

Interest Rates (went up)

2009-05-28T11:44:00.000-06:00

Wow – after closing at the lowest levels since October, the Bond market took a BEATING yesterday. It has lost 363 points since last Thursday.

The primary cause is OVER-SUPPLY. It was a sell-off of Mortgage Backed Securities. Although the Feds have been buying up MBS for many months, it cannot offset the sell-off of supply forever. This is exactly the reason I have been saying all along, we will likely never see rates at 4.0%. The intention of the Feds was to prolong the time frame that rates stayed around 4.75% to 5.00% - not force a 4% rate.

Now the question is: will rates move back down to where they have been? The answer is not certain, but it will be VERY difficult to do so.

The market is very volatile today and moving down. We have just received an “alert to lock” due to deterioration.

What a crazy ride.

I will keep you posted. I am here for you.

CONVENTIONAL ( Loan amounts up to $417,000)

30 yr. Fixed – 5.375% APR 5.595%

15 yr. Fixed – 4.875% APR 5.095%

JUMBO (Loan amounts above $417,000)

30 yr. Fixed – 5.625% APR 5.845% (to $625,500 10% down) SL, Tooele, Summit Counties)

30 yr. Fixed – 6.000% APR 6.220% (to $700,000 20% down)

30 yr. Fixed - 6.250% APR 6.470% (to $850,000 25% down)

THERE ARE BIG VARIACES IN JUMBO PROGRAMS AND RATES.

CALL ME TO DISCUSS YOUR SCENARIO.

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)

30 yr. fixed - 5.250% APR 5.750% with 740+ FICO

30 yr. fixed – 5.250% APR 5.750% with 620+ FICO

15 yr. Fixed - 4.500% APR 5.000%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)

30 yr. Fixed – 5.375% APR 5.875% with 740+ FICO

30 yr. Fixed – 5.500% APR 6.000% with 660+ FICO

UTAH HOUSING

30 yr. Fixed - 6.375% APR 6. 875%

RURAL HOUSING

30 yr. Fixed – 5.500% APR 6.000%

455 Home Run Grants remaining.

**Rates are subject to change with market and loan size.

**Rates are subject to credit qualifying and down payment.

**Rates are based on a 30 day lock period.

**Rates are based on a 740 FICO for Conventional Loans

**Rates are based on a 620/660/740 FICO for FHA Loans

Info provided by Graystone Mortgage, Inc

Daybreak, South Jordan, UT

2009-05-19T23:13:00.000-06:00

DaybreakUtah.com

Daily Interest Rates

2009-05-19T12:28:00.000-06:00

CONVENTIONAL ( Loan amounts up to $417,000)

30 yr. Fixed – 4.750% APR 4.970% with .125% discount

15 yr. Fixed – 4.375% APR 4.595%

JUMBO (Loan amounts above $417,000)

30 yr. Fixed – 4.875% APR 5.095% (to $625,500 10% down) SL, Tooele, Summit Counties)

30 yr. Fixed – 6.000% APR 6.220% (to $700,000 20% down)

30 yr. Fixed - 6.250% APR 6.470% (to $850,000 25% down)

THERE ARE BIG VARIACES IN JUMBO PROGRAMS AND RATES.

CALL ME TO DISCUSS YOUR SCENARIO.

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)

30 yr. fixed – 4.750% APR 5.250%

15 yr. Fixed - 4.250% APR 4.750%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)

30 yr. Fixed – 4.870% APR 5.375% with 660+ FICO

UTAH HOUSING

30 yr. Fixed - 6.250% APR 6. 750%

RURAL HOUSING

30 yr. Fixed – 4.875% APR 5.250%

650 Home Run Grants remaining.

**Rates are subject to change with market and loan size.

**Rates are subject to credit qualifying and down payment.

**Rates are based on a 30 day lock period.

**Rates are based on a 740 FICO for Conventional Loans

**Rates are based on a 620/660/740 FICO for FHA Loans

2009-05-15T21:36:00.000-06:00

$8,000 Tax Credit soon to be use for down payment on FHA loans.

2009-05-13T06:40:00.000-06:00

HUD Secretary Announces Monetization of Tax Credit at NAR Real Estate Summit

press release

May 12, 2009, 1:10 p.m. ESTWASHINGTON, DC, May 12, 2009 (MARKETWIRE via COMTEX) -- Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.
Donovan's remarks came in an address to several thousand Realtors(R) gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors(R) Midyear Legislative Meetings&Trade Expo here.
Secretary Donovan said that important changes, which the National Association of Realtors(R) has been calling for, will help consumers purchase a home. "We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment," Donovan said. According to Donovan, the FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Donovan said the Obama administration plans to further stabilize the housing market. "I do think we have some early signs that the market overall is stabilizing," said Donovan. "Since January we've seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate."
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said, "As the leading advocate for housing issues and homeownership, NAR continues to take a leadership role in promoting ideas for improving our economy by stabilizing the housing and real estate markets. Today we have the best of the best to begin a dialogue, develop solutions and initiate action toward real estate and economic recovery."

Interest Rates

2009-05-11T15:04:00.003-06:00

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 4.750% APR 4.970%
15 yr. Fixed – 4.500% APR 4.720%

JUMBO (Loan amounts above $417,000)
30 yr. Fixed – 4.875% APR 5.095% (to $625,500 10% down) SL, Tooele, Summit Counties) with .25% discount
30 yr. Fixed – 6.000% APR 6.220% (to $700,000 20% down)
30 yr. Fixed - 6.250% APR 6.470% (to $850,000 25% down)

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 4.750% APR 5.250%
15 yr. Fixed - 4.375% APR 4.875%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)
30 yr. Fixed – 4.875% APR 5.375% with 660+ FICO

UTAH HOUSING
30 yr. Fixed - 6.250% APR 6. 750%

RURAL HOUSING
30 yr. Fixed – 4.875% APR 5.375% with .125% discount

799 Home Run Grants remaining.

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620/660/740 FICO for FHA Loans

Info provided by Graystone Mortgage

Introducing more home buyers!

2009-05-11T08:53:00.006-06:00

The Tango Team is proud to introduce Bret and Maralee and their children. Bret is a successful regional business consultant for a medical suply company and Maralee is a domestic diva.
They decided to take advantage of this great Salt Lake market with so many incentives such as low interest rates, tax credits, and Utah grant, plus $6,000 of more builder incentives.
The Tango Team is pleased to show them homes in Saratoga Springs, Lehi, Herriman and West Jordan areas.
Please email us or give us a call (801-372-7874) if you are in the market looking for a place to call home.

Interest Rates

2009-05-07T14:37:00.001-06:00

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 4.750% APR 4.970%
15 yr. Fixed – 4.375 APR 4.595%

JUMBO (Loan amounts above $417,000)
30 yr. Fixed – 4.875% APR 5.095% (to $625,500 10% down) SL, Tooele, Summit Counties)
30 yr. Fixed – 6.000% APR 6.220% (to $700,000 20% down)
30 yr. Fixed - 6.250% APR 6.470% (to $850,000 25% down)

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 4.500 % APR 5.000%
15 yr. Fixed - 4.250% APR 4.750%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)
30 yr. Fixed – 4.750% APR 5.250%

UTAH HOUSING
30 yr. Fixed - 6.125% APR 6. 625%

RURAL HOUSING
30 yr. Fixed – 4.875% APR 5.375%

839 Home Run Grants remaining.

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620 FICO for FHA Loans

Information provided by Graystone Mortgage

Extasis - Astor Piazzolla

2009-05-06T17:20:00.002-06:00

A little something for all our followers.
And remember: In real estate it takes two to tango.
Enjoy it!

Foreclosure Prevention

2009-05-04T21:42:00.002-06:00

Please call us if you need any help with this issue. We are Distressed Property Experts. 801-372-7874. Sometimes help is just a phone call away!

Credit Score

2009-05-04T21:06:00.001-06:00

Now we are on Zillow.com check us out!

2009-05-04T18:44:00.001-06:00

Interest Rates

2009-04-28T09:48:00.001-06:00

As I prepare the rates today, I am getting an “alert to lock” due to a downward turn in the Bond Market. Rates will likely bump up a bit today.

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 4.625% APR 4.845%
15 yr. Fixed – 4.375% APR 4.595%

JUMBO (Loan amounts above $417,000)
30 yr. Fixed – 5.000% APR 5.250% (to $600,300 10% down) SL, Tooele, Summit Counties)
30 yr. Fixed – 6.000% APR 6.220% (to $700,000 20% down)
30 yr. Fixed - 6.250% APR 6.470% (to $850,000 25% down)

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 4.500 % APR 5.000%
15 yr. Fixed - 4.250% APR 4.750%

FHA JUMBO (above $417,000 to max limit – SL, Tooele, Summit Co)
30 yr. Fixed – 4.750% APR 5.250%

UTAH HOUSING
30 yr. Fixed - 6.125% APR 6. 625%

RURAL HOUSING
30 yr. Fixed – 4.750% APR 5.250%

1061 Home Run Grants remaining.

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620 FICO for FHA Loans

Info provided by Graystone Mortgage, LLC

More Buyers

2009-04-27T10:28:00.004-06:00

We are introducing Charan and Gitangli. He is a stock market instructor and investor and his wife is a physical therapist. They are an interesting and excited couple looking to take advantage of this great market here in the Salt Lake Valley area.
The Tango Team showed them houses in Sandy, Draper, and South Jordan. Right now we are negotiating an offer on a beautiful home in a great Sandy neighborhood.
They have been looking for a while and settle with The Tango Team to help them find the right house to call home.
If you are lost and don't know who to contact, we are here to help. Send us an email or give us a call. 801-372-7874

Interest Rates

2009-04-27T10:19:00.003-06:00

FHA (Loan Limits - SL $417,000, Davis $389,850, Utah $271,050)
30 yr. fixed - 4.500 % APR 5.000%
15 yr. Fixed - 4.375% APR 5.125%

CONVENTIONAL ( Loan amounts up to $417,000)
30 yr. Fixed – 4.750% APR 4.970%
15 yr. Fixed – 4.375% APR 4.595%

UTAH HOUSING
30 yr. Fixed - 6.125% APR 6. 625%

RURAL HOUSING
30 yr. Fixed – 4.875% APR 5.375% with .250% discount

1153 Home Run Grants ($6,000) remaining.

**Rates are subject to change with market and loan size.
**Rates are subject to credit qualifying and down payment.
**Rates are based on a 30 day lock period.
**Rates are based on a 740 FICO for Conventional Loans
**Rates are based on a 620 FICO for FHA Loans

Info provided by Graystone Mortgage, LLC

Just Sold!

2009-04-14T16:10:00.003-06:00

Bradon and Vanessa Fredrickson closed on their home yesterday. The Tango Team was able to find them a great 3 bedrooms, one bathroom, all fanced home on the same block where Vanessa's sister lives. They are proud homeowners and they will be claiming the $8,000 tax credit as well.
Congratulations guys!

First-time home buyers!

2009-04-14T15:55:00.004-06:00

Here are more first-time home buyers ready to take advantage of the great Utah market. Jason and Melissa are looking for a home in North Utah county. This newlywed couple is excited about finding their new built home and to use the $6,000 Home Run Grant from the Utah Housing Corporation AND also the $8,000 tax credit offered until the end of this year!
The Tango Team is eager to show them homes, negotiate in their behalf and keep them as clients for life!

Bank Own Properties (REO)

2009-03-30T14:57:00.003-06:00

I was showing homes in Lehi last Saturday and came across this bank owned property. It was a nice home on the MLS with only one picture from the outside. Built in the 90's, three bedrooms, over 1,500 square feet, for only $129,900. We went to see it and saw the worse house ever from the inside. Pipes were missing, graffiti from angry homeowners all over the place, even the key box was open with the key inside. The lesson we learned is, if is too good to be true, it is not true!

2009-03-20T11:18:00.001-06:00

http://www.makinghomeaffordable.com/modification_eligibility.html

Click on this link if you need to modify your loan.

2009-03-20T10:28:00.001-06:00

http://b2b.utahhousingcorp.org/cgi-bin/R?P=uhc_home.html

Big News GRANTS IN UTAH

2009-03-12T16:50:00.003-06:00

As the Utah Legislature wrapped up this week, there was some good news for Utah home buyers. On Monday, the Senate passed a bill that would provide a $6,000 grant to qualified buyers of a newly constructed home — funds in addition to the $8,000 federal tax credit — for a potential of $14,000 in home-buying incentives.

This housing stimulus grant program is called “Home Run,” and it aims to stimulate home sales and eliminate a large portion of unsold housing oversupply, which would help stabilize home prices and create jobs. At the time this article was written, the Utah House had not voted on Senate Bill 260 but was expected to by late Thursday. If passed and signed by the governor, there would be 1,666 grants available to buyers on a first-come, first-served basis — grants which would not have to be repaid. For more updated information on the bill’s final status, visit www.le.utah.gov.

“The idea behind this is we’re trying to get existing homes bought and off the market so they can start building new homes,” said the bill’s sponsor Sen. Scott Jenkins.

While the proposed grant program would be similar to the $8,000 federal tax credit for home buying, there are some notable differences. The first is that the Home Run grants can only be used for newly constructed, never-occupied residences in Utah. Dissimilarly, the federal tax credit applies to both new and existing homes. Utah buyers who purchase a new home could potentially qualify for both incentives.

Second, unlike the federal program which only applies to first-time home buyers, Home Run is available to any Utah buyer who meets the other qualifications, including existing homeowners. The intent is to clear the excess housing inventory in the low- and mid-range price categories. In order to do this, analysts felt the program could not be limited to first-time buyers.

The Home Run grant is $6,000 regardless of the home’s purchase price, while the federal housing tax credit is 10 percent of the home’s purchase price up to $8,000. The federal tax credit is available to anyone who purchases a home before Dec. 1, 2009, while Home Run grants are only available until they are gone, which could be much quicker. Some experts familiar with the bill are predicting all the grants could be given out in just a few months, which makes it imperative for anyone interested in the program to act quickly.

While both the Home Run grant and the federal home-buying tax credit have income limits (a single buyer’s income cannot exceed $75,000 and a married couple’s cannot exceed $150,000 to qualify for the full amounts), the federal program offers a partial tax credit that may be available to those who make more. A partial Home Run grant is not available to individuals and couples making more than $75,000 and $150,000, respectively.

The way in which the money is given varies as well. A Home Run applicant will make a reservation request through their mortgage lender who will contact Utah Housing Corporation, the program administrator. Buyers will then have 90 days to close the deal, with the money being credited to the buyer’s down payment or closings costs at closing. In contrast, those seeking the federal home-buying tax credit will claim the credit on their federal income tax return.

A final difference is that Home Run applicants must buy their home using a 30-year fixed-rate mortgage. Buyers can use any number of loan programs, including conventional, FHA, VA or USDA to name a few. Buyers can also use a Utah Housing loan, but this is not a requirement; any traditional 30-year fixed mortgage will qualify. Any lender authorized to make loans in Utah can help buyers apply for the grant.

Combined with the market’s other buying incentives, the Home Run program is expected to have a significant impact. The University of Utah’s Bureau of Economic and Business Research estimates Home Run will eliminate a large number of the 2,903 complete, unoccupied homes along the Wasatch Front, thereby creating 8,823 jobs and $27.7 million in projected tax revenue.

The money for the grants comes from funding Utah is slated to receive under the American Recovery and Reinvestment Act of 2009, which President Barack Obama signed into law last month. Utah Housing Corporation is expected to provide more information on their Web site, www.UtahHousingCorp.org, as details are finalized.

Information provided by Graystone Mortgage, LLC

Don't Kick Yourself for Not Buying in This Market!!

2009-03-12T13:30:00.002-06:00

Taking Advantage of the $8,000 Tax Credit

2009-02-24T14:01:00.003-07:00

Meet the Fredricksons. Bradon and Vanessa are an excited couple ready to pull the trigger and take advantage of the Economic Stimulus Package. They are first time home buyers working with The Tango Team. We are negotiating for them a Bank owned property. Here at The Tango Team, we are proud to show them properties they want to see and negotiate on their behalf!

Financial Literacy

2009-01-28T22:46:00.003-07:00

Financial Literacy

2009-01-28T22:28:00.001-07:00

View of Salt Lake City from an airplane

2009-01-28T18:27:00.000-07:00

A look at Daybreak Community in South Jordan, UT

2009-01-28T18:14:00.002-07:00

Beware of Foreclosure Scam

2008-12-31T22:11:00.002-07:00

2008 Stats For Salt Lake County

2008-12-31T21:34:00.004-07:00

New Listing in 2008: 29,396 (or -16.51% compared to 2007)
Average % of New Listings Sold: 36.30% (or -12.12% compared to 2007)
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

2008-12-22T12:08:00.004-07:00

Homeowner's HOPE Hotline

2008-12-22T11:43:00.003-07:00

Utah Ski Resorts Map

2008-11-23T20:37:00.004-07:00

Utah Housing Facts Video

2008-11-18T22:11:00.003-07:00

Loan Modification, We Can Help!

2008-11-12T12:34:00.004-07:00

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

2008-11-06T15:41:00.000-07:00

Salt Lake City Gas Prices provided by GasBuddy.com

Click here to add this map to your website.

First Time Home Buyers

2008-11-04T16:50:00.007-07:00

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

2008-11-04T11:03:00.000-07:00

Net Migration Is At Record Levels

2008-11-01T19:49:00.000-06:00

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

2008-11-01T19:46:00.001-06:00

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

2008-11-01T19:44:00.000-06:00

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

2008-11-01T19:43:00.000-06:00

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

2008-11-01T19:42:00.000-06:00

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

2008-11-01T19:39:00.000-06:00

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

2008-11-01T19:29:00.000-06:00

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

2008-11-01T17:53:00.000-06:00

Orem Woman Citizen Of The Year

2008-10-31T18:24:00.001-06:00

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

2008-10-31T17:02:00.000-06:00

High number of foreclosures has WVC seeking federal funds

2008-10-30T22:24:00.000-06:00

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

2008-10-30T21:53:00.000-06:00

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

Who Is Your Listing Agent?

2008-10-30T21:44:00.000-06:00

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!

2008-10-30T18:02:00.001-06:00

OMG! What a Great Couple!

2008-10-30T17:56:00.000-06:00

It Really Takes Two to Tango!

2008-10-30T17:53:00.001-06:00

Al Pacino - Scent of a Woman

2008-10-30T17:47:00.001-06:00

More Tango (Piazzolla - Yo Yo Ma)

2008-10-30T17:43:00.000-06:00

What a Great Dance!

2008-10-30T17:39:00.000-06:00

The Mayan Restaurante

2008-10-30T17:11:00.000-06:00

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

2008-10-30T16:49:00.001-06:00

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

2008-10-30T16:38:00.000-06:00

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

2008-10-30T16:24:00.000-06:00

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

2008-10-30T16:19:00.000-06:00

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)