Neglecting to have your property inspected could be the most costly mistake of your life! So why take the chance when you can always hire a good home inspector to inspect your dream house for you?

Below are the top questions you can ask to make sure that your home inspector is competent, if not the best in the business.

1. How long have they been in the inspection business?

The general rule is that the longer your home inspector has been in the business, the better for you. When it comes to home inspection, there is absolutely no substitute for experience. But be wary of some home inspectors who are quick to quote the number of years they’ve been in the business. You can never accept anything at face value, especially considering how lax state laws are regarding the regulation of licensing home inspectors. When they do say that they have years of experience, verify. Ask them what specific experience they mean by that.

The goal in asking this question is to try to gain insight into the specific experience of your home inspector. You need to find out exactly how many years they have spent in actual and full-time home inspection work, and not just construction or trade related experience.

2. How many home inspections have they completed?

This question can be somewhat related to the above, but it needs particular emphasis. Because anyone can say that they are quite experienced in home inspection only to find out that they have never actually handled an actual home inspection by themselves. Also, an home inspector who has been handling more than twenty home inspections in all his years in the home inspection business is quicker to identify or recognize subtle problems that a less experienced home inspector might miss. A seasoned professional is definitely better than a relative newbie.

3. Do I need an engineer and what standards do you inspect to?

An engineer? There’s no real need for that when you have an home inspector at your service. While professional engineers are very good at what they do, being an engineer is an absolute must have in order to become a good home inspector. The difference between the two is that the engineer is well versed in the structure of a building while the home inspector is a defect recognition specialist. In a home inspection, the latter is what you need.

4. What qualifications does the inspector have?

In most states, home inspection is totally unregulated. The closest thing a consumer can get for an assurance about the standards of practice and code of ethics of his home inspector is the rules and codes provided by a few trade groups. But other than that, the government has none. So consumers must therefore take care that they are hiring a professional who knows what he’s doing. Some independent and non-aligned home inspectors are indeed professionals and well-trained, but many are not. So just to be safe, make certain that your home inspector is reputable in his chosen line of work.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

Ready to place your home on the real estate market? Do you understand the process and details of selling a home?

Before you list with an agent in , educate yourself on all the factors that will affect your profit. Be as informed as possible so you can make the absolutely best business decisions. After all, the sale of your home is a business decision!

Most of us are not tuned into the trends and fluctuations of the real estate market. Likewise, we are not aware of the necessary steps to maximize profits on the sale of our home.

This is where real estate agents like myself, Kathy Opolski, come into play. Typically, we rely heavily upon an agent to lead us down the most profitable path. Considering our home is usually the most valuable asset we own, doesn’t it make sense to list with someone who will maximize our profits? But how do we find that agent in ?

This report is designed to empower you with critical information necessary to evaluate an agent’s qualifications and help you identify the professional top producer. The more meticulous you become in selecting the right agent, the higher your profits will be!

Start by doing some research. Find out who the most active agents are in the real estate market. Look at advertising to see how professional it is. Ask friends and family.

Drive around the neighborhood looking for yard signs. Then compile a list of agents.

The Phone Interview- Place a call to each of the agents in on your list. Do an initial ‘feel out’ interview over the phone so when you meet you will both be prepared.

Request a Complete Plan- From title to escrow, request a complete plan as to the services they can provide for you.

Evaluate Their Team- Top producers will have established relationships with lenders, title reps, inspectors, everything. They are there for your benefit and if they are ill prepared to handle all the steps, you are being short changed.

Insist on A Written Marketing Plan-To sell a home in today’s  real estate market, it takes more than putting a sign in the yard, a lock box on the door and agent tour on Tuesday.

A true professional knows exactly what he or she has to do to get a home sold and will be willing to show you in writing. There should be 17 to 20 different strategies in their marketing plan.

Look for innovative ways to attract home buyers to your home. Demand 24-hour advertising, lead accountability and tracking services. These services exist and you should insist upon them.

Alternative Report- Request a complete report of alternatives to the home sale. What forms of financing are available other than conventional financing if needed. Often sellers are not willing or able to do alternate financing, however you should know all of your options.

Insist on Pre-qualification- Even though this is not always controllable when another agent is involved, it is imperative to never take your house off of the real estate market unless you know the status of the potential buyer.

A Net Sheet- Request a complete net sheet, minus commissions and fees, showing your exact proceeds when you list your property.

Accessibility-How easy is it to get in touch with the potential agent? Document how quickly they returned your call. Remember: they will be returning calls to your prospective home buyers.
Ask what their call return policy to a buyer is, not only personally but their staff as well.

Internet Presence-What search engine ranking does that agent have? Do they have a plan on following up with the potential buyer leads that are generated from their online efforts?

Direct Mail- Investigate the agent's capacity to send direct mail. How often do prospects receive mail? Is it professional? Does the mail piece motivate prospects to respond?

Honest Feedback After Each Showing- There is nothing more disappointing than having a showing and getting your hopes up for a sale, and then never hearing what the buyers thought.

Negotiation Strategy- Have a written, well-conceived negotiation strategy. The old adage, "You don’t get what you deserve, you get what you negotiate" rings true in real estate. Insist on a sound negotiation strategy before you entertain buyers.

A Written Guarantee-All industries offer guarantees on their service or product, except real estate. If a real estate agent is confident in his or her service, they should be willing to guarantee the sale of your home in writing.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything [Profile.market2] real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

Finding a Home Inspector you can have faith in. Purchasing a new a home has traditionally been your dream.

But more than this, it is maybe the most important investment you ever have to make. That is why when you do make a decision to purchase a new home and have the finances to back it up, you need all the resources you can get to make a clever decision. This is where home inspectors come in. home inspectors play a particularly critical role in home purchasing. The character of their roles provides you with the ideal ground for making a smart call when you buy a new home. However, there are a few more things you must study home inspectors and their profession. A Home Inspector you can have faith in. If there's anything at all that you fully, most definitely need to learn when purchasing a new home, it's this : most real estate agents work for the vendor. Their job, therefore, is to maximise the profit of their seller.

Now, unless you have agreed a contact announcing that they are representing you as a buyer's agent, their top concern would be the security of the vendor, their chairman. The answer, so, is to hire your own home inspector whom you can have trust in. Just look for a home inspector who can demonstrate education, experience, and pro association. In a standard home inspection, septic systems are no longer customarily included. These inspections are made not solely to make sure that you are making a good purchase on your house, but for the protection of the environment.

The eastern subterranean termite can do major damage to the structure of a home and can go without detection for years. When you do hire a home inspector to test your house, be certain that you also make him do pest inspections.

A lot of home inspectors offer these as well as well as the standard home inspection.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything [Profile.market2] real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

So you have decided to get a home inspector check your home. That’s a smart choice. And, of course, you want to get the most out of this hired professional’s services. But, wait. Before going out there and scrutinizing your home inspector’s work, maybe you should start with yourself first? What is your role in all this? What do you have to do to make your home inspector’s work easier and therefore make your investment even more protected?

Everywhere home inspectors often come across limiting conditions that interfere with a complete report for the client. After you’ve paid for a home inspection, you do not want to see the following words on your report:

“Inspection limited due to the excess possessions blocking access and view.”

You see, your home inspector follows some very rigid rules. The standards of his profession are high and he has to conform to this in order to maintain his professionalism and integrity. For instance, your home inspector may not have to report on any component or system which was not observed. Furthermore, he is not required to disturb insulation, move personal items, furniture, equipment, plant life, soil, snow and ice, debris which obstructs access or visibility.

Now, just imagine that one of the major components of your home such as the water heater, heating and cooling systems, electrical panels, and the attic cannot be accessed because your personal belongings are in the way. That’s is definitely one way of NOT getting your money’s worth and NOT having a full understanding of all the components of the home you are planning to purchase.

So, what can you do to get the most of the dollars you pay your home inspector?

Well, first thing’s first, during a walk through of the home with your home inspector, pay attention to certain conditions where components may not be readily accessible. Suggest to him that stored items be moved from that area. If he refuses or seem adamant, you can ask your agent or broker, on your behalf, to reiterate your concern on this matter.

If the home is vacant, make sure that the power, water, and gas remain on. This is because when your home inspector shows up, all systems are operable and inspected.

When the inspection is done, your home inspector will give you his written report of everything he saw. Pay close attention to it. Watch out for the major components of your home, especially. If there are items on your home inspector’s report that were not inspected because of trouble accessing them, you may want to request a contingency. After the questionable areas have been cleared, you can ask the home seller to pay for a re-inspection. Of, if not, you can ask him to pay for a warranty if the component is not inspected.

Now, if the home is occupied, that is a different matter. It is only to be expected that there will be areas of the house that are not completely accessible to your home inspector. But reasonable effort should be taken to allow the home inspector to perform a complete inspection for his or her client.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

So you have decided to hire a home inspector to examine your potential home. Smart decision. And you have also gone through the walk-through with him, asking him all the necessary questions, and making your own notes of what should or shouldn’t be replaced or repaired. Now, you’re just waiting for his written report to arrive shortly. And when you get it, now what?

A home inspector’s report is a long document that a summary of every observation that he made. It can be intimidating, if not overwhelming, especially if you’re worried about whatever repair costs you might have to consider after the home inspector lists them down.

But you don’t need to be alarmed. This is just another reason why you must be present during the inspection. You see, it is one thing to hear about various small problems while you are walking around the property with the home inspector. As your home inspector gives you all the run-down of what the problem areas are and other safety issues, the real context might probably be modified with reassurances that “this is just a maintenance issue” or “it would be good to fix when you get around to it.” You feel relieved when you hear these words, and you should be, because they are designed to make you feel exactly that way.

However, the situation can be entirely different once you read a long list of problems that would make your home less like a dream home and more like a dump. How on earth are you ever going to pay for all this?

Relax. Don’t panic. After you read your home inspector’s report for the first time, take a deep breath and drink if you must. Then, sit down and read it again, this time with a pen and paper at hand.

Okay, now take it one step at a time. Look at each “problem” item on the home inspector’s report first, then ask yourself the following questions:

Is this a minor maintenance problem or a major repair?
Is this an issue related to the age of the house? Because if it is, then it might just be part of the “charm” of the home, especially if your house is an old one. You might include floors that slope a bit from settlement or door and windows that are slightly out of plumb on the list of your home’s old charm.
Is this a problem that must be dealt with immediately? Or is it just something that should be done eventually?
Give what you know about house prices in your locality, might this problem have already been taken into consideration in pricing the house?
Does this problem merit further investigation?
Are you wiling to walk away from the house because of any or all of these problems?

If you find any minor items in your home inspector’s report, suck it up and forget about it. You should know by now that no house is perfect. It is enough that you take care of the really bad ones, or walk away when the cost is just too steep.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

How The HUD Home Buying Process Works : Tips From Local Real Estate Agent Kathy Opolski

If you are looking to purchase a home then this is an excellent time to do so.  But even though buyers search diligently on the internet for the perfect buy they often overlook one group of homes- those owned by HUD.  

For a home to be classified as a HUD home it has to meet the requirement that it was originally financed with an FHA loan.  When the homeowner loses the home to foreclosure then it becomes a HUD property.  This is an area where you can get phenomenal buys- if you know what to do.

The first thing you will need to do is find yourself a HUD authorized buyer's agent.  The great thing about this is that as a buyer's agent the commission is paid for by HUD so they will basically be working for you for free.  Some people will try to argue that having an agent's commission in the deal will cause the price of the home to be higher, but that isn't the case.  In fact, you will come out better for being represented.

Another reason to be represented is that only an authorized HUD agent can open up HUD homes.  They have a special key required to gain access.  These agents attend specialized training in order to obtain the HUD status so they will know the ins and outs of the process.

In order to get one of their homes you have to start by bidding online.  If your bid wins then you have 48 hours to have an originally signed contract at the HUD location.  Anything later and your bid is thrown out.  No exceptions.  At this point you can typically expect to close within 45 days. 

If you are skeptical working with a government agency, don't be.  Believe it or not, HUD is right on top of things.  Their support lines are manned every weekday and the personnel answering the calls are knowledgeable and thorough.  They are well ahead of many banks in resolving issues in a timely manner.

Just remember that HUD has their guidelines, too.  If something needs to be signed or an initial was left out they will give you ample time to correct it.

To find out the exact process of buying a HUD home in UT, contact local real estate agent Kathy Opolski to learn more about the process. The direct number is 801-518-4599 or visit the website at www.BuySaltLakeHomes.com today.

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

For a FREE Weekly List of Foreclosed Homes with 4-5 Bedrooms in Salt Lake City, UT under $150,000 fill in the form below and you will receive home listings as they hit the market.  You will get all the hot listings as they come up even before most agents see them!

Just fill in the form below with your correct name and e-mail address and we will set it up to have the list automatically e-mailed to you.  Just add it in the comments if you have an interest in Short Sales and HUD homes too!

If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599.

Things To Do After Closing: A Checklist From Real Estate Expert Kathy Opolski

When you walk out of the closing as a new homeowner, a flood of emotions is running through you. Your main concern is making sure that you do everything to protect your new investment. So how do you do that?

The first thing you will want to consider is changing the door locks. Even if it is a new home you won't have any idea who may have a key. It is best to make the home secure and have them all changed at the same time. You can even have all of the locks keyed to one master key for convenience.

The mountains of papers that you received at closing are extremely important. Make sure that you keep them in a safe place where you can put your hands on if they are needed. Countless times there is a document issue that needs resolving or a question that requires answering. Putting your hands on them easily may avoid headaches down the road.

About two to three weeks after closing contact the county records office to confirm that the title has indeed been recorded. Sometimes, depending on their workload, it may take longer. Regardless, keep in touch until you have verification.

Make sure that you have verified having the utilities worked out. If you are purchasing from someone it is best to have them transferred instead of disconnected and reconnected. This will avoid a delay in service. Some companies will even waive the connection fee if they do not have to send someone out to the home twice. Builders can even make this arrangement if you let them know before closing.

It is highly recommended that you chronicle your possessions after you have moved in. The best way to do this is to videotape everything in the home as well as the home itself. This will serve as an invaluable tool in the unfortunate event that something happens. Your memory will never be able to take the place of live footage and you will encounter less resistance from your insurance company if you have to prove something was present. Also, make a detailed written list, too. Keep a copy of both in at least one location outside of the home, such as a safety deposit box.

For more tips on having a smooth closing, contact real estate expert Kathy Opolski with RE/MAX Associates at 801-518-4599.

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

For a FREE Weekly List of Foreclosed Homes with 4-5 Bedrooms in Salt Lake City, UT under $150,000 fill in the form below and you will receive home listings as they hit the market.  You will get all the hot listings as they come up even before most agents see them!

Just fill in the form below with your correct name and e-mail address and we will set it up to have the list automatically e-mailed to you.  Just add it in the comments if you have an interest in Short Sales and HUD homes too!

If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599

Buyers Sometimes Wonder Are Home Inspections Worth The Money?

Have you ever wondered if home inspections are worth the money? According to real estate agent Kathy Opolski, the answer is emphatically YES.  There are so many great reasons to have an inspection, but there is a lot of risk if you don't have one.

The reason for having a home inspection is to get a detailed idea about the overall condition of the home you are considering buying.  This will include all of the major components all the way down to the doorbell, and everything in between.  In fact, you will be shown things that you would never consider checking.

If a problem is discovered that requires attention then you will have the opportunity to enlist an expert as to how extensive the repair will be.  This eliminates any defects being hidden by the sellers- either intentionally or unintentionally.  Without an inspection you would be required to take the seller to court and prove that they knowingly sold the home with a problem.  The burden of proof would be up to you.

When the inspection is complete you should receive a written, detailed report that analyzes every part of the home.  It will highlight every area of concern, from current problems to potential ones.  This is an invaluable tool to decide if the home is worth the money you are willing to pay.  Unless you are a trained inspector yourself there is no way you can completely check every part of the home.

Your highest priority is finding a good inspector.  You can easily find an inspector, but a good one is another thing.  You want to make sure that they are certified with UT guidelines.  They should belong to at least one certification agency that specifies guidelines that should be followed.  And it is imperative that they are bonded and insured.

When you have an inspection you should expect it to last approximately 3 to 4 hours, if properly conducted.  This isn't an unreasonable amount of time to have the home checked out thoroughly. In most states, if a problem is found and you feel that it is a deal breaker for you then you will the opportunity to back out of the contract.  Of course, your real estate should be able to advise you on this.

For more information about choosing the right home inspector in , contact Kathy Opolski with RE/MAX Associates at 801-518-4599 today.

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

For a FREE Weekly List of Foreclosed Homes with 4-5 Bedrooms in Salt Lake City, UT under $150,000 fill in the form below and you will receive home listings as they hit the market.  You will get all the hot listings as they come up even before most agents see them!

Just fill in the form below with your correct name and e-mail address and we will set it up to have the list automatically e-mailed to you.  Just add it in the comments if you have an interest in Short Sales and HUD homes too!

If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599

Income. Debt. Down Payment. Closing Costs. Two Years Income Tax Returns. Assets. Liabilities. IRAs. You want WHAT? Just what can I afford?

Buying a home in today’s marketplace is a bit intimidating, and your new home purchase is likely to be one of the most important decisions you’ve ever had to make. Usually it’s one of the single most valuable assets you’ll own.

Where to Start
Before you invest hundreds of hours searching the real estate papers, to avoid any heartbreak, if you find yourself unable to qualify for your dream home, sit down with a lender. Your lender can perform a simple verbal pre-qualification in about twenty minutes and a full-fledged pre-approval in about 5 days.

Pre-qualification not only allows you to focus your search in the correct price range, saving a lot of wasted time and frustration, but it can also give you an edge when competing with other offers on a home that you find. If a seller is deciding between two offers- yours which has been qualified and another unqualified offer- they are much more likely to pick yours.

Pre-qualification will also give you leverage when negotiating with a seller in a non-competitive atmosphere; it essentially makes you a cash buyer.

The amount of home in that you qualify for will be determined by three key factors: Your down payment, your ability to qualify for a mortgage, and closing costs.

The Down Payment
Whereas a current homeowner can rely on equity from their home sale, a first time home-buyer is limited to the money they can save.

The days of having to put 20 percent down on a home in are in the past, although putting a large amount of money down definitely makes it easier to qualify for a mortgage and to get the lowest interest rates available. With the various programs that are available today, you can put as little as 3 percent down on a home in .


Qualifying for the Mortgage
There are two basic guidelines that lenders use to determine what size mortgage you are eligible for:

Your monthly mortgage payment of principal, interest, taxes and insurance (PITI) should not exceed 25 to 28% of your monthly gross income.

Your monthly housing cost (PITI) plus other long-term debt should not exceed 33 to 38% of your monthly gross income.

Specifically, most lenders will consider 4 key factors to determine your ability to qualify for a home loan:

Income – This first element can include not only your gross monthly income and secondary income (commissions, bonuses) but also your history of employment, stability of income, education, even potential for future earnings.

Credit History-This encompasses your history of debt repayment, total outstanding debt, highest balance, and your highest monthly debt balance.

Assets–Your assets consist of cash on hand, savings and checking accounts, CDs, stocks, bonds or any other type of liquid asset.

Property–The home in you are planning to purchase will be appraised to determine the market value. The estimated value must be sufficient to secure the loan. Lenders will loan you no more than a certain percentage (usually 95%) of this value.

Closing Costs Keep in mind that in addition to your down payment, you will also be responsible for paying fees for the loan and closing costs. These will be required at the time of closing unless you qualify and choose to have these included in your financing.

Closing Costs generally will range between 2 percent and 6 percent of mortgage loan, depending on the loan and lender. You will be provided with a "Good Faith Estimate" of closing costs so you can know what to expect.

"Points," which are one time charges equal to one percent of your loan amount, may be required by your lender at closing.
Your closing agent will charge a fee at the close of the sale. We sincerely hope this information will help you gain a better understanding of the mortgage process.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

You want to get the perfect loan for your investment property in . If you want to finance a rental property in that you want to sell for quick cash or hold long term. This special report series will uncover the place to start on your journey for investment financing.

IMPORTANT INFORMATION FOLLOWS:

Kathy Opolski Discusses
How to Finance Your Investment Property in .

Searching for investment opportunities in can be very exciting It is exciting to walk into a run down property that you know with a little fixing up and paint could bring you quick profits. But before you start seriously looking for properties you need to have your financing plan lined up.

If you are planning on borrowing money to purchase an investment property in for the long term it is best to start by contacting a mortgage broker that works with many different lenders.

You are looking to find a lender in that understands the complicated process of getting loans for investors.

If you are working with a real estate agent you can ask them for a referral. You can also check out some of the investment clubs in With people that can more than likely help you find the financing that you need.

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

For a FREE Weekly List of Foreclosed Homes with 4-5 Bedrooms in Salt Lake City, UT under $150,000 fill in the form below and you will receive home listings as they hit the market.  You will get all the hot listings as they come up even before most agents see them!

Just fill in the form below with your correct name and e-mail address and we will set it up to have the list automatically e-mailed to you.  Just add it in the comments if you have an interest in Short Sales and HUD homes too!

If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599.

A buyer's agent is a real estate agent that's representing the buyer rather than the seller. Hiring a buyer's agent can be tricky, especially when there are so many real estate agents in . What are some questions you can ask to make sure you make the best choice? In this article, I'll show you five of the most important questions you should ask when hiring a buyer's agent.

Question #1 ñ What's the Most You've Negotiated from a Purchase Price in the Last Year?

Perhaps the most important skill a buyer's agent should have is the ability to negotiate. The differences in skill in this area will cost you or save you thousands of dollars. Make sure the buyer's agent you work with is able to negotiate well for you.

Question #2 ñ How Familiar Are You with the Real Estate Market?

It's very important to work with a buyer's agent that's familiar with the area. After all, this person is going to be responsible for showing you houses and purchasing a house in the area.

Question #3 ñ How Much Experience do You Have as a Buyer's Agent?

Generally, you don't want to work with a new buyer's agent. You're making what's possibly the biggest investment of your life, so it's tantamount that you work with someone who can best assist you in the process.

Question #4 ñ How Strong is Your Real Estate Network?

Another reason it's important to work with someone experienced in the area is that you can take advantage of their contacts.

For example, what if you needed a good recommendation for a lender? Perhaps you need a home inspection, or a home appraisal?

A good buyer's agent should have a strong network of contacts that you can tap into.

Question #5 ñ How Many Transactions Have You Completed in the Last Year?

Real estate agents sometimes work part time and sometimes work full time. Ideally, you want to work with a buyer's agent that's fully immersed in the business. This gives you access to more experience as well as more dedication power.

Hiring a good buyer's agent can save you a lot of time, mental energy and save you money as well. Choosing a good buyer's agent in might take some upfront work, but its well worth the effort.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate at www.BuySaltLakeHomes.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

Income. Debt. Down Payment. Closing Costs. Two Years Income Tax Returns. Assets. Liabilities. IRAs. You want WHAT? Just what can I afford?

Buying a home in today’s marketplace is a bit intimidating, and your new home purchase is likely to be one of the most important decisions you’ve ever had to make. Usually it’s one of the single most valuable assets you’ll own.

Where to Start
Before you invest hundreds of hours searching the real estate papers, to avoid any heartbreak, if you find yourself unable to qualify for your dream home, sit down with a lender. Your lender can perform a simple verbal pre-qualification in about twenty minutes and a full-fledged pre-approval in about 5 days.

Pre-qualification not only allows you to focus your search in the correct price range, saving a lot of wasted time and frustration, but it can also give you an edge when competing with other offers on a home that you find. If a seller is deciding between two offers- yours which has been qualified and another unqualified offer- they are much more likely to pick yours.

Pre-qualification will also give you leverage when negotiating with a seller in a non-competitive atmosphere; it essentially makes you a cash buyer.

The amount of home in that you qualify for will be determined by three key factors: Your down payment, your ability to qualify for a mortgage, and closing costs.

The Down Payment
Whereas a current homeowner can rely on equity from their home sale, a first time home-buyer is limited to the money they can save.

The days of having to put 20 percent down on a home in are in the past, although putting a large amount of money down definitely makes it easier to qualify for a mortgage and to get the lowest interest rates available. With the various programs that are available today, you can put as little as 3 percent down on a home in .


Qualifying for the Mortgage
There are two basic guidelines that lenders use to determine what size mortgage you are eligible for:

Your monthly mortgage payment of principal, interest, taxes and insurance (PITI) should not exceed 25 to 28% of your monthly gross income.

Your monthly housing cost (PITI) plus other long-term debt should not exceed 33 to 38% of your monthly gross income.

Specifically, most lenders will consider 4 key factors to determine your ability to qualify for a home loan:

Income – This first element can include not only your gross monthly income and secondary income (commissions, bonuses) but also your history of employment, stability of income, education, even potential for future earnings.

Credit History-This encompasses your history of debt repayment, total outstanding debt, highest balance, and your highest monthly debt balance.

Assets–Your assets consist of cash on hand, savings and checking accounts, CDs, stocks, bonds or any other type of liquid asset.

Property–The home in you are planning to purchase will be appraised to determine the market value. The estimated value must be sufficient to secure the loan. Lenders will loan you no more than a certain percentage (usually 95%) of this value.

Closing Costs Keep in mind that in addition to your down payment, you will also be responsible for paying fees for the loan and closing costs. These will be required at the time of closing unless you qualify and choose to have these included in your financing.

Closing Costs generally will range between 2 percent and 6 percent of mortgage loan, depending on the loan and lender. You will be provided with a "Good Faith Estimate" of closing costs so you can know what to expect.

"Points," which are one time charges equal to one percent of your loan amount, may be required by your lender at closing.
Your closing agent will charge a fee at the close of the sale. We sincerely hope this information will help you gain a better understanding of the mortgage process.

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything [Profile.market2] real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

Foreclosures have the reputation of being very profitable investments for real estate investors. While that can be true, they can also be very dangerous investments where you can lose a lot of money. In this article, weíll go 3 of the most common pitfalls investors make, so you can avoid these mistakes if you decide to invest in foreclosures.

Pitfall #1 All Foreclosures are Good Deals

This simply isnít true. Foreclosures are often in terrible condition. For that reason, banks and the government are often willing to provide major discounts on the propertyís price. Even then, however, the property may not be a great investment.

Itís only beginning investors that think all foreclosures are good deals. Experienced investors know that just like anything else, finding a good foreclosure property takes time, expertise and research.

Pitfall #2 Jumping into Fixer Uppers

Weíve all heard of people whoíve made millions buying shambled houses, fixing them and then ìflippingî them. While this can be a very profitable model, it also has its pitfalls.

The biggest pitfall is beginning investors who jump in to the fixer market without the expertise to back it up. Unless you can predict how much your repairs will cost, how much you can sell the property for and then work your way backwards to what the selling price must be in order to be profitable, then youíre not ready for a fixer upper.

There are many profitable deals that donít require the level of expertise that a fixer does. For a beginning investor, itís usually better to start with those deals.

Pitfall #3 Not Performing Good Research

Good research is a key component to being profitable in the foreclosure market. You must know how much your property can sell for in the market. You should know what the trends in the area are, including community projects, new buildings that are being built, crime rates, etc.

You should also be sure to get a home inspection. If youíre bidding on multiple properties at an auction, it is important that you actually step foot in all the properties you plan on bidding on before you bid on them.

These are 3 of the more common pitfalls that investors tend to fall into. By avoiding these pitfalls, youíll set yourself ahead of most beginning foreclosure investors in

There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything [Profile.market2] real estate. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

What's the tangible home purchasing process in and how does one ensure that the closing basically occurs at the prepared date.

Read this report before you start on the home purchasing process and ensure you will be moving into you new home on time rather than living out of a moving wagon. It's important to make certain the closing goes smoothly. There are a ton of people who will be concerned in the exchange of purchasing your place. Here's a list of who these might include.

Real Estate Agent - This person is the hub of your transaction from considering the type of home that fits yuor needs to handing over the keys once you have closed on the home.  This is the main person you should be able to turn to during each step of the transaction.

Loan Officer - Unless you are paying cash, this is a very important person to have on your side.  Getting you qualified for a loan and getting you the funds you need to make the purchase is integral to you getting your home purchased. A knowledgable person you can trust  is worth the time you take to find them.

Home Inspector - Once you have an accepted offer it is important to get the home inspected so you know what you are getting into.

Escrow Officer - This person will run a Preliminary Title report for you to ensure clear title.  This person will also walk you through the paperwork to get your home funded and recorded.

There is a lot of free information available to you about buying, selling or investing in [Profile.market2] real estate. For complete information about the real estate market including current homes for sale, property values and more please www.BuySaltLakeHomes.com visit the most complete website online dedicated to everything real estate. So please feel free to contact me with any of your real estate questions and I will me more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

Knowing how much to pay for a home can be tricky business. Homes in tend to vary in prices from low to high. Even houses right next to one another can vary in price by as much as 20%. How can you tell if you’re paying a good price for a home in ? In this article, we’ll cover how to determine the value of your home, strategies for making an offer and considerations with the seller that may affect your purchase price.

How to Determine the Value of Your House
The most popular way to determine the value of your home is through what’s called “Competitive Market Analysis.” This is where you find a ballpark value for how much houses like the one you’re considering has sold for in your area. Then you adjust your selling price based on other amenities, needs for improvements, etc that your house may need.
If you work with a real estate agent in , they will often times do this research for you. Otherwise, you can do your research online using a variety of websites that provide data on recently sold houses.
Another way to determine how much the house you’re worth is to hire a real estate appraiser. While this can give you a very good, professional estimate of what the house is worth, if the appraisal is significantly higher or lower than market value, often times you’ll have to adjust your offer anyway.
Hiring an appraiser generally costs $150-$300.

Strategies for Making an Offer
There are several common strategies for making an offer on a home.
One common strategy used by investors (that can be applied for residential buyers as well) is to calculate how much they want to pay monthly and work backwards to the selling price. For example, if you’re willing to pay $4000 a month, you’ll use an online calculator to find out how much you can afford to pay for a home. This ensures investors stay cashflow positive and can help you figure out how much to pay for a home based on how much you’re willing to spend monthly.
Another common strategy for making an offer is to use necessary improvements as bargaining chips. If you’ll need to spend money on the house before you can live in it or rent it out, make it clear to the seller.
Finally, keep this in mind when making your offer: Don’t adjust your offer just because you’re in a “bidding war.” Decide how much the home is worth, what you’re willing to pay and stick to that number.

Seller Considerations
Although the value of a house is static, the perceived value of a house is not. If the seller is very motivated to sell for one reason or another, you may be able to get a better price by offering to close quickly. Likewise, if the house has been on the market for some time already, they’re more likely to be willing to negotiate a lower price.
Motivated sellers in come up more often that you may realize. Figure out why your seller is selling the house and you may have a great bargain on your hands.

Now that you’ve learned these three strategies, you know a great deal about finding a great price for a home in . A great way to further your education on how to get a great price on a great home is to speak with someone with years of experience. If you’re curious about learning more, please don’t hesitate to contact me by phone at 801-518-4599 or email at kathyo@kathyohomes.com

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

For a FREE Weekly List of Foreclosed Homes with 4-5 Bedrooms in Salt Lake City, UT under $150,000 fill in the form below and you will receive home listings as they hit the market.  You will get all the hot listings as they come up even before most agents see them!

Just fill in the form below with your correct name and e-mail address and we will set it up to have the list automatically e-mailed to you.  Just add it in the comments if you have an interest in Short Sales and HUD homes too!

If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599.