2014 Salt Lake Housing Market

SALT LAKE IS HEATING UP! Contact me today to get your home ready to list for the up coming year and if your looking to buy get in touch with me today and start shopping now for the best home selection! 

http://fox13now.com/2013/12/06/report-predicts-salt-lake-city-will-have-hottest-housing-market-in-u-s/

Fall Home Maintenance

With the market slowing for the holidays here is a quick check list of what you should do to make sure that your home is ready for the winter season before they become a headache.

• Get your mind in the gutters. Inspect and clean gutters and downspouts.
• Button up your overcoat. Seal gaps and cracks around windows and doors with weather-stripping and caulk.
• Get on top of roof problems. Inspect your roof for damaged or curled shingles, corroded flashing, or leaky vents.
• Walks the walks (and drives). Take steps to repair damaged sidewalks, driveways, and steps.
• Chill out. Drain and winterize outdoor faucets and irrigation systems.
• Freshen your filter. Clean or replace dirty furnace filters.
• Give your furnace a physical. Have a professional inspect your heating system.
• Gather round the hearth. Check fireplaces for soot or creosote build-up. Better yet, schedule a visit from a reputable chimney sweep.
• Keep the humidifier humming. Clean the plates or pads to ensure efficient operation.
• Head-off gas problems. If you have a gas-fired room heater, have it inspected by a pro. Also, perform any routine maintenance recommended by the maker.
• Keep the wood fires burning brightly. Wood stoves are making a comeback. To avoid a deadly situation, be sure to inspect yours before firing it up.
• Keep your family safe at home. A home safety check should be an annual ritual in every household. Test smoke and CO monitors, inspect (or install) fire extinguishers, review fire escape plans, and rid your home of old newspapers and other fire hazards.

If you would like some more information about these individual tasks please visit the website below at http://www.bhg.com/home-improvement/maintenance/weatherizing/your-homes-fall-checklist/ Have a safe and happy Halloween. 

Interest Rates DROPPING!

Attention home buyers! Interest rates have gone back down!! with the summer frenzy over and inventory holding steady now is a GREAT time to buy before the winter hits. Contact me today about getting into a new home before the holidays! There is no better way than to #MovewithMike

Real Estate Update

Did you know? Within the last three months Salt Lake has had more that $8,000 go from negative to positive equity! In a recent survey done by CoreLogic, "In Salt Lake City, the share of "underwater" properties fell from 15.5 PERCENT down to 12 PERCENT" If you have been thinking about listing your home within the next year contact me today so we can get your home. Furthermore, Utah is the number 7 fast growing state. Which means that if you are trying to sell your home as a "For Sale By Owner" you are missing out on all of the potential buyers that are relocating from out of the state. The best way for these buyers to see your home is by working with a Realtor like Mike Thompson to get the maximum exposure to ALL potential buyers! If you are looking to buy or sale a home there is no better way than to Move with Mike!

Don't forget to like us on Facebook and follow us on Twitter @MovewithMike 

Weekly Real Estate Update "buying still cheaper than renting"

Buying Still Cheaper Than Renting!

In a recent Article published by Real Estate global network; Across the country at today's sales and rent prices, buying is cheaper than renting until the 30 year fixed rate reaches 10.5%. Last week we hit the 4.625% mark! that means that it would have to rise quite a bit to get anywhere near the 10.5% mark. The recent increase in the 30 year fixed rate raised the monthly payment on a $200,000 mortgage by $56, or 6%. However, because mortgage rates are still near historic lows, and because values fell so much after the housing bubble burst and remain low relative to rents, owning a home is still much cheaper than renting one. What this means that the recent jump in interest rates doesn't change the rent versus buy calculations very much.

The fact remains that buying is still cheaper than renting as long as interest rates stay below 10.5%. At 3.9%, the current 30 year fixed rate according to Freddie Mac, buying is 41% cheaper than renting across the U.S. at a 5% interest rate, buying is still 34% cheaper than renting. Mortgage rates would have to rise a great amount, all the way to 10.5% to change this to make renting more favorable than owning. Rates were about that high through most of the 1980s, but have been consistently below 10.5% since May 1990. Each market area has its own mortgage rate tipping point where renting becomes cheaper than owning a home. At 3.9%, buying is cheaper than renting in all of the 100 largest metros areas, which means the tipping point is above 3.9% everywhere. If you or anyone is renting stop throwing your money away and contact me so I can help you find your perfect home today! 

Mike Thompson 

Cell - 801.699.8176

Email - Realtorthompson@gmail.com

Dont forget to like us on facebook http://www.facebook.com/MovewithMikeutah

Utah housing home buyer information

This is great information if you are looking to get into a home with little or NO money down! The basics are listed below but make sure to contact Mike today at 801.699.8176 or email at Realtorthompson@gmail.com; if you or anyone you know are looking to buy a home!  

Make sure to like us on facebook 

&

Check out our website!

New South Jordan Listing!

Beautiful South Jordan 2 Story Home Just Listed

9999 Orkney Circle - $274,900 - MLS# 1183902

This Beautifully maintained home in quite South Jordan neighborhood. Home backs the greenbelt so there are NO back neighbors. Many parks throughout the neighborhood. Mature pear, apple, and plumb trees, as well as producing raspberry, blackberries, and grapes! this home has it all! Amazing views from the balcony off the master suite! Control 4 home automation system included with full price offer! Very close to shopping and entertainment with the district and daybreak lake just down the road! Will not be on the market for long Contact me today if you are looking to buy or sale your home!

Mike Thompson - 801.699.8176

Dont forget to like us on facebook MovewithMikeutah

Check out the new website at MovewithMikeutah.com

Waiting periods on buying a home, Great Information!

With the market still increasing, and we are moving further and further in the right direction. I have been getting contacted by clients that have previously been forced to short sale or foreclose on there past home. below is a chart that can help lay out a time frame of what you are looking at to be able to purchase a new home! If you know anyone that this may help please let me know or have them contact me at 801.699.8176 or Realtorthompson@gmail.com

Like us on Facebook http://www.facebook.com/MovewithMikeutah

Make sure to click here to visit the new website!

http://www.MovewithMikeutah.com

Salt Lake County growing steadily

The Salt Lake market is still moving! This is a great market to sell your home and still get a good price on a new home! With slightly more homes listed in August than in July the under contract ratio has dropped a little, but the average days on market remains low. Don't wait and hope that the mortgage rates will hold out until next year to sale your home contact Mike today at 801.699.8176 about getting a FREE competitive market analysis to find out what your home is worth. check out MovewithMikeutah.com for more information.

Half way through the LISTING SEASON!!

Now that we are half way through the listing season for this year, I was surprised with the numbers that have been reported. In the 100k-200k price range listing have gone down and homes under contract have gone up! what this means is that if your current home fits in this range you can get top dollar for it by listing now!! The 200k-400k price range has had move activity in regards to listings but homes are still moving fast as the market is recovering. If you are or anyone that you know is even thinking about listing a home for sell and haven't already contacted me, YOU NEED TO NOW. Interest rates have been holding so you can still take advantage of the low interest rates and get top dollar for your current home. If you are just wondering what your home is worth; contact me about getting a FREE competitive market analysis (CMA). I have done CMA's for clients and we were able to sell their home for 20k more than what the thought there home was worth!!

The Real Estate Bottom Has Come And GONE!!

Over the past 8 months we have seen steady growth throughout the Salt Lake Real Estate market. Now we are starting to see the interest rates climb in response to the growth that we have been seeing. Check out the link below for a cost analysis on where you would be with interest rates in just 6 months! https://edge.mortgagecoach.com/report/edgereport.html#246488-0-0-229342 . If you or anyone you know was even considering listing there current home and taking advantage of these low rates WE NEED TO TALK! don't miss out on these historically low rates while they are still around CALL ME TODAY!

Michael Thompson

Realty Brokers

801.699.8176

Realtorthompson@gmail.com 

Weekly Mortgage Review

Week of January 27, 2013

Mortgage rates began moving upward last week with optimistic news regarding the labor market and some good new coming out of Europe. Weekly claims for unemployment spent a second week in the 330K range, reaching a 5-year low. In Europe, the European Central Bank (ECB) announced that banks were moving to pay back loans from an ECB program faster than expected. While the Eurozone crisis is certainly far from over, the announcement pulled significant money out of safe-haven, US treasuries and helped drive mortgage rates upward, at the end of the week. This week is a deluge of important economic data for markets to digest. In addition to the first estimate for the 4th quarter’s GDP, Consumer Confidence, the ISM’s Manufacturing Index, and December’s employment data, we also have a Federal Reserve meeting this week. The Fed is not expected to make any policy moves at this meeting, With rates experiencing some updraft from last week, more positive economic news this week may very likely help push mortgage rates even higher. 

2012 Review

2012 Real Estate Review

2012 was a GREAT year for the real estate market. Home prices finally stopped declining, some markets have even seen growth! Interest rates remained low to help home buyers get in to homes and keep us moving in the right direction. Short sales, bank owned and HUD homes still plague most areas but are not over running the markets as seen in past years. Home owners were able to sell their homes as a reasonable price and still buy a home at a great interest rate! I WAS ABLE TO GIVE MY CLIENTS BACK OVER $10,000 WITH MY COMMISSION SHARING PROGRAM JUST LAST YEAR! If you haven't heard about this program, where have you been? Here are the basics; all of the home buyers I work with are able to earn up to 1% of the purchase price of there home back at closing. So, if you were to buy a home at $175,000 I would cut you a check for $1,750! I cannot think of a better way to start in a new home than that. I also offer different incentive programs for listing your home with me as well. 2012 was truly a great year but 2013 already looks to be much better! If you have any real estate related questions please don't hesitate to contact me at 801.699.8176 or Realtorthompson@gmail.com