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

November Real Estate Update

Interest rates remaining low for the time being, which is good news for all of the buyers out there. but listing rates from the third quarter last year compared to this year have gone down; while the list price has gone up. This is a great time to list your home and it is getting harder and harder to find a great home at an amazing price. So many of my clients have been finding homes quickly and moving even faster to avoid a multiple offer situation. This is GREAT news for sellers that have been waiting and waiting for a better time to list. Now is as good time to list, if the market gets much better to sell it will be very hard to find a amazing deal on a new home. With my commission sharing program I have given my clients back over $1,750 just this month and over $6,500! This is a spectacular way to start in your new home so please contact me at 801.699.8176 or email at Realtorthompson@gmail.com if you know of anyone looking to buy or sale there home!

Time to buy or SALE your home!

Now is a great time to buy or sale with interest rates staying low, my commission sharing program, and the rise in home prices. If you are thinking about moving now is a great time! The report from the Federal Housing Finance Agency Ranked Utah #8 in the nation for housing appreciation year-over-year. short sales and foreclosure properties are becoming less and less of burden and the housing market is showing signs of recovery. Only about 20% of home sales in April of this year were short sales or foreclosure properties; that is down nearly 11% from last year at that time! according to Forbes I don't think that it is going to slow down. they rated Utah as the third best city for finding a job and the fifth fastest growing city. Now is the time to list your house and not have to chase the market downwards, and at the same time still be able to get into a new home with a low interest rate! so let me know if you or anybody you know is looking to buy or sell their home!   

Interest rates are still extremely low! great time to buy!!!

Weekly Review Week of July 15, 2012 With no end in sight to our economic malaise, mortgage rates again drifted into record territory. Last week’s economic news and data simply continued in the same vein that it has for some time. There is a general sense that the Fed will eventually step in and take some action in an attempt to goose the economy. However, with interest rates at historic lows, the Fed’s options are limited. The most likely scenarios, according to many Fed watchers, are another round of quantitative easing or purchases of mortgage-backed securities. Either path would likely help drive long-term interest rates even lower. Mortgage rates may be drifting downward in anticipation of a Fed move. This is a data-packed week for financial markets. Retail sales and Industrial Production data is due, along with inflation and housing news. Unless part of the data comes in extremely outside of expectations, we are very likely to see mortgage rates continue in a mostly flat path, with some minor downward drifting. This may be the trend until the Fed announces a definitive course of action.

Mortgage Rate Economic Overview