Monica Cook Home and Lifestyles

Exciting news Salt is the 4th state in the country to live in. What does this mean to you as a seller. Now is the best time to be selling your home. And if you are a buyer looking to buy its a great time with interest rates at an all time low coupled with the 100% financing that is available. So if you are one of those who thinks its time to wait before you buy, it will end up costing you more.  http://www.inman.com/reports/top-market-income/salt-lake-city.html

Many people don't know what it actually costs to continue to rent instead of buying. I hope that this will help you in your homebuying process. If you are unsure what numbers to plug in you can always call me or send me an email. This link will allow you to plug in your own numbers and compare for yourself. http://www.nytimes.com/ interactive/business/buy-rent- calculator.html Please give me a call when it is time for you to buy.

UTAH ranks #6 in the nation in rising home prices. This increase is welcome news to home owners. AZ ranked #1 with 12.9% appreciation; Idaho #2 @ 8.67%; Florida #3 @ 7.44%; Michigan #4 @ 7.25%; Ark. is #5 @ 7.18% and UTAH saw 7.1% appreciation in home prices in the second quarter compared to a year ago. So what does this mean to you as a buyer? By waiting another year you will be looking at a $10,000-15,000 increase in home prices. As well interest rate increases. Do you want to take the chance by waiting? What this means is an extra $100.00 or more to your monthly payment for the same house. Can you afford the increase? For sellers now has never been a better time to sell with the increases that have and continue to occur, and the lack of homes on the market. Homes are now going under contract in 34 days compared to 74 a year ago and most with Multiple offers. Get your FREE evaluation done today www.saltlakecityhomeinfo.com

DEC. 31st GOVERNMENT DEADLINE LOOMS http://tbwsdailyshow.com/2012/ 09/24/short-sale-now-or-pay- the-feds/?utm_source= feedburner&utm_medium=email& utm_campaign=Feed%3A+ TheTbwsDailyShow+%28The+TBWS+ Daily+Show%29 Watch the first 2 minutes of the above link. For many people in the U.S. it's either SHORT SALE NOW or PAY TAXES.  If you know someone I should be helping who is in a bad situation....please pick up the phone and let me know. I specialize in helping people!

Buyers often place too much importance on the price of a home, and not enough emphasis on a home’s actual cost. The graphic below illustrates how much a $100,000 home’s monthly payment increases by just slight increases in interest rates. Now imagine a $200,000 or $300,000 home, with payments being made over the typical term of 15 or 30 years loan.   YEAR 30 YEAR MORTGAGE P&I PAYMENT ON Int erest Rate $100,000 Mortgage ______________________________ __________________ 2003    6.15%    $609.23 2004    5.75%    $583.57 2005    5.77%    $584.84 2006    6. 40%    $625.51 2007    6.38% ...

THE CENSUS IS IN If you live in one of the cities listed below or might be considering moving to one of them you may want to take advantage of the USDA/Rural housing loans that will be phased out before the end of the year. Very soon Rural Housing in Utah will update the maps to eliminate six growing cities in Utah. The USDA Rural Housing program is very popular in Utah as it offers one of the only down payment options in this area. Each city that is being cut off has taken full advantage of the program to grow. They each have grown too large for the programs guidelines. USDA is geared for 'rural' areas which have a low population or a serious lack of mortgage credit for lower and moderate-income families. Thousands of homeowners and homebuyers are trying to get funding before the maps changes. This is causing a backup with the local Salt Lake Office that issues the final commitment. Rural loans must be completely underwritten prior to submission to Ru...

The Salt Lake Board of Realtors and Utah Association of Realtors today released the official market statistics for Salt Lake County and Utah today. The big story is two fold: Home sales have gone up again in Salt Lake County for the 12th straight month, as the housing economy improves. However, because listings are staying stagnant, the housing inventory in the Salt Lake area is at a 15 year low, ... with only 4.9 months of inventory on the market. Some other points from today’s stats release: Median home prices increased to $199,950, up 7 percent compared to $187,000 of May 2011. We’re getting awfully close to having medians above $200,000 again. Average days on market is also down significantly, 68 DOM compared to 78 last May. Homes are selling more quickly. New listings in the SL market went down 3.6%, whereas they went up 2.4% statewide. Pending sales (i.e., under contracts) went up 29.5% compared to last May. People are getting more for their homes: an average of 95% of l...

Two national reports have recently ranked Utah in the top 10 for housing price increases. For the first quarter, the Federal Housing Finance Agency said Utah had the eighth-highest appreciation among states. The agency said Utah house prices increased about 3 percent from the same period a year earlier. Similarly, CoreLogic ranked Utah in the top four for two of its rankings. Excluding distressed sales, like short sales and foreclosures, Utah’s 5.3 percent increase in prices was the highest in the country. Including distressed sales, Utah ranked No. 4 in appreciation at 5.4 percent. If you know of anyone looking to buy or sell a home, I would love the opportunity to talk with them. Thank you for thinking of me!

Deciding to put your home on the market can bring on a wide range of emotions. You may feel excitement at the prospect of moving on or moving up. Some sellers feel anticipation about what the future holds and about what kind of deals buyers may bring to the table. On the opposite end of the spectrum you may be feeling sadness or even regret. That's because selling your house can feel a lot like selling your home . Any and all of these emotional responses are normal! In order to stick to your guns and to keep on the sunnier side of the selling process it's important to do five key things before you sell. Feeling prepared and in control of a situation is paramount in feeling good about your decision. Here are the five pre-selling tips: Organize Paperwork: You most likely have papers regarding any home warranties. Prospective buyers are going to want to have these. Having them ready for viewing is a great selling point. You might also consider putting together a list of cu...

In Salt Lake County, roughly 30 percent of active listings are short sales. In addition, another 10 percent are foreclosures. “Distressed properties, in the form of short sales and foreclosures, are hard to avoid these days as tens of thousands of Utahns struggle to pay their monthly mortgage payments,” reported The Salt Lake Tribune. “Realtors and others attending the 2012 Housing Summit say that as a result, their jobs have become more complex in recent years.” For those facing distressed property sales, it’s important to understand that there’s no significant difference in FICO score impact among foreclosures, short sales or deeds in lieu of foreclosure. According to myFICO.com, alternatives to foreclosure, “such as short sales and deeds-in-lieu of foreclosure are all reported as "not paid as agreed" accounts, and considered the same as foreclosures by your FICO score.” The FICO report added that people considering bankruptcy as a...

Great information on short sales in Utah~ Senate Bill 42 was just passed! A bill that places a THREE-MONTH LIMIT ON LENDERS WHO WANT TO PURSUE A DEFICIENCY JUDGMENT FOLLOWING A SHORT SALE. Prior to the bill's enactment, lenders could wait up to six years before going after borrowers for any unpaid mortgage balances.  CALL ME IF YOU NEED HELP SELLING YOUR HOME Utah Realtor Magazine-by Christopher Kyler, J.D. UAR Chief Executive Officer