Welcome to the LocateUtahHomes.com Blog

2012-07-02 14:17:41
5 Tips For Utah Home Buyers in a Changing Market!

The real estate market is changing!  Home sales are rising, properties are selling faster and home prices are going up!


I read and appreciated Shawn Janke's (President of Northern Wasatch 
Association of Realtors) article in today's Standard Examiner Homefinder
  section. In his article, Shawn provides tips for homebuyers to follow
so that they will have success in today's real estate market.

I have taken the 5 Tips in the article and added my own personal 
experience and comments to help homebuyer's be successful in today's 
market.  :)

Tip 1: Get Pre-Approved for a mortgage-I have written many  blog posts
that tells of the value of a FULL credit approval letter.  A  FULL credit approval is
backed by a full application, credit report and  an automated underwriting decision
(AUS).  I provide a FULL credit  approval letter to my clients at NO
CHARGE and this puts their real  estate offer at a significant advantage
when submitting an offer!

Tip 2: Do your research-With market knowledge and the  competitiveness
of the buyer's for the home  you want, the homebuyer can  then gauge how
quickly they will need to move on a listed property.   Budgeting for future payments,
types of loan programs available to meet  financing needs and payment size are
things that I review in detail with  all of my clients.

Tip 3: Be ready to compete with other buyers-I see larger  earnest money
deposits recommended by Realtors I work with because it  gives the seller and the
listing agent a loud and clear message: 'I am a  serious buyer!'.  I have even seen
NONREFUNDABLE earnest money offers  drive down the sales price too.  Gutsy to put in a
non refundable  earnest money offer, but it works to get a lower price
in some  competitive situations!

Tip 4:U Be ready to act quickly-as mentioned in Tip #2, as  your do your research
and work with a professional Realtor, you will  recognize what is a good deal.  When you
know it is a good deal, be  ready to make and offer right away!  Make
sure that your Realtor knows  your search criteria and when they notify
you of a home coming on the  market that meets your criteria, look at it
immediately and if the home  meets your needs, make the offer!

Tip 5: Try finding homes before they're listed-make sure  you mention to your Realtor
to let you know if they know of any homes  that are about to come on the market. Sometimes, Realtors get tips from  other Realtors they network with or who are in their Real Estate office/companyand this can turn out to be a great way to find your perfect home!



Today's Real Estate market is a wonderful
opportunity!  With great  mortgage rates, depressed prices (which are
now beginning to climb) and  motivated sellers, having your homebuyer
tool kit (the 5 tips!) with you  will give you the best chance of
success!  I look forward to helping  you with your mortgage questions
and needs.

ABOUT THE AUTHOR: Marty Qualls is a trusted mortgage lender located in Utah! Marty helps home buyers take the first step of the home buying process to get pre-qualified. Marty can be reached at 801-540-5108 or visit his blog at: http://martyqualls.blogspot.com.

 

 

 
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