Friday, May 29, 2009

So the $8,000 Tax Credit Can Be Used on Closing Costs

HUD is really having a difficult time figuring this one out and have flipped flopped over whether or not bridge loans can be used for the $8,000 tax credit. It looks like they have decided now that they can be used, as long as the buyer still puts down 3.5% of their own funds for down payment on FHA loans.
    • HUD: Tax Credit Can Be Used on Closing Costs
      FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

      Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

Posted from Diigo. The rest of my favorite links are here.

Monday, May 18, 2009

Logan Open Houses

Open House Saturday

If you're one of those people who are curious about what homes are for sale in Logan Utah, but don't necesarilly want to commit to or be pressured by a Logan Utah real estate agent, then attending open houses is the right step for you.�

Cornerstone Real Estate Professionals are hosting multiple Logan open houses on �Saturday May 30th. Homes will come in all shapes and sizes. Stay tuned and visit Cornerstone Real Estate's Northern Utah Real Estate site to see the specific homes that will be open.�

Monday, May 11, 2009

More than 800 residential homes for Sale in Cache County

It's official. There are now more than 800 residential homes for sale in Cache County Utah. This is a record high, and it is not a good time to be selling a home if you don't have too. Great time for buyers though. Lots of selection and lots of incentives to buy. View all homes for sale in Cache County Utah.

Tuesday, May 5, 2009

April Cache County Home Sales Number

April was the best month for home sales in Cache County Real Estate thus far as 78 Residential Cache County Homes sold. This is up by 15% from March. From Year over year results, April home sales were actually down by almost 20% compared with April of 2008.

Most of the homes sold during April were of the more affordable variety. The median price of homes sold was $159,900 while the average price was $175,151. The average price of Cache County home listings is $264,419 and the median price is $209,000. There are are currently 787 home listings in Cache County, the most ever.

Saturday, May 2, 2009

Record Number of Homes on the Market in Cache County

As I checked the MLS this morning, there were 775 residential homes for sale in Cache County Utah. According to my records, this is almost a record high. Last October we got up to 778 residential homes for sale. This is good news for buyers, but not good news if you're trying to sell a home in Cache Valley.
If the number of homes on the market continues to rise, expect declines in home values for most price ranges in Cache Valley. If the number of homes on the market starts to decline, we may have hit bottom.

It's a great time for first time buyers, or buyers looking to move up. There are a lot of excellent deals out there, especially when you consider that interest rates can be obtained for less than 5%. It's nearly impossible to time the bottom of the market, so start looking now before you miss out.
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