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Office Location Ron Ogden, Associate Broker
RE/MAX Metro
110 North Main Street
Bountiful, Utah 84010
Phone: (801) 891-1472
Fax: (801) 296-1342

Dwell Utah Real Estate Blog

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Federal Tax Credit Expanded for Utah Home Buyers

Thursday, November 12th, 2009 at 12:14pm. 66 Views, 1 Comments.

For anyone considering buying a home in the next few months:  Great News!  President Obama just signed into law an extension and expansion of the popular economic stimulus incentive for home buyers.  Set to expire on November 30, 2009, the original $8,000 tax credit incentive has been extended to homes that are under contract by April 30, 2010 and that close by June 30, 2010.  Further, the incentive has been expanded to provide up to $6,500 in tax credits for repeat (i.e., non-first time) homebuyers.  Restrictions do apply, so read further for all the details.

Buy A Home Now And Get $8000 Government Incentive

Tax Credit Available for First Time Buyers: For 1st time homebuyers, you can receive ten percent of the purchase price of your home, with a maximum…

Real Estate Investment Opportunities Today

Tuesday, October 13th, 2009 at 12:27pm. 114 Views, 2 Comments.

In the Utah real estate market, the worst seems to be over:  housing prices are stabilizing, buyer demand is increasing, and sellers are accepting the reality of the newly adjusted marketplace.  Unlike many areas of the country where a stable housing market is still years away, Utah's real estate recovery seems to be closely following the general economic recovery.  With Utah housing prices now recovering from their recession lows, now is a good time to explore investment opportunities in Utah real estate.

Opportunities in Multi-Unit Housing

In our current housing market, I really like the idea of investing in multi-unit residential real estate: duplexes, triplexes, four-plexes, and small apartment buildings.  In order to reduce risk, I prefer smaller…

New Housing Grant For Utah: $4,000 For New Homes

Wednesday, September 9th, 2009 at 2:51pm. 97 Views, 0 Comments.

Utah Housing has just announced a new mortgage assistance program that grants $4,000 to home buyers who purchase new homes for sale in Utah.  This grant is available to buyers who 

  • wish to build a new home, or
  • purchase a new home that is currently under construction, or 
  • buy a new home that has been completed, but has never been lived in

Eligibilty For The Home Run 2 Grant

To be eligible for the Home Run 2 Grant, buyers must have not received a grant under the recent completed Home Run 1 program.  In addition, buyer must meet the following restrictions:

  • Income cannot exceed $75,000 if single, or $150,000 if married.
  • The home must be occupied as the buyer's primary and permanent residence.
  • If a mortgage loan is required, the loan must be a 30-year term or less and…

Condo Sales May Slow Down In Coming Months: Find Out Why

Monday, August 31st, 2009 at 5:56pm. 102 Views, 3 Comments.

Some of you know that condominium developments must meet stringent qualifications in order to qualify for FHA insured financing.  Most of you don't know, however, that on October 1, 2009, all previously approved condominium projects must re-certify before any additional FHA loans can be approved.  OK, so what's the big deal?

FHA Eligibility Requirements

To reduce the risk that FHA assumes when it insures condominium units, the FHA requires all condominium projects to meet certain eligibility requirements, such as:

  • At least 50% of the condominium units must be owner occupied
  • No more than 30% of the units in a condominium development can be insured by FHA
  • The condominium HOA must demonstrate that they have enough reserve funds to meet ongoing capital expenditure…

Sharp Increase in Utah Home Sales

Thursday, July 16th, 2009 at 12:25pm. 125 Views, 1 Comments.

Homes sales in Utah were up dramatically in the 2nd Quarter 2009 compared to 1st Quarter results, possibly indicating a bottom to the difficult housing market we have recently experienced.  In Salt Lake County, 3,047 homes were sold in Q2 2009 (2nd Quarter), a 70% increase over home sales in Q1 2009, and the first increase in quarterly sales since June 2008.

In Davis County, 886 homes were sold in Q2, up from 593 homes in Q1--a 49% increase.  This was also the first increase in homes sales in the county since June 2008.

Utah County posted similarly impressive numbers with 1,360 homes sales in the 2nd Quarter, up from 841 home sales in Q1, or an increase of 62%.

This increase in home sales in all three counties was supported by a similarly dramatic reduction…

The RE/MAX Value Proposition For Home Buyers & Sellers

Wednesday, June 10th, 2009 at 9:50pm. 115 Views, 1 Comments.

I have been affiliated with RE/MAX now for nearly three years and couldn't be more proud of the association.   In my opinion, RE/MAX is the premier real estate brokerage in the world, offering the best real estate services available to buyers and sellers.  And furthermore, RE/MAX gives me the flexibility to manage my own real estate business, Dwell Utah, to best meet the needs of my clients, without a lot of heavy-handed corporate oversight. 

The RE/MAX Value Proposition 

What does this mean, in real terms, to clients who are buying and selling Utah real estate through me?  World-class marketing, top-tier internet exposure, referrals from and exposure to the largest network of real estate agents in the world, and personal service and local market expertise…

$8000 1st Time Home Buyer Tax Credit Gets Better!

Tuesday, June 2nd, 2009 at 9:45am. 143 Views, 0 Comments.

I wrote a few weeks ago about the state and federal tax credits that are available to Utahns who buy a new home (see Utah Home Buyers Can Save Up To $14000).  Now the $8000 federal portion of this benefit has gotten even better, thanks to recent action taken by the Obama Administration.

The Economic Recovery Act's $8,000 homebuyer tax credit was designed to provide financial help to enable first-time home buyers (defined as anyone who has not owned a home in the last three years), to purchase a home during these economically difficult times, under the following conditions:

  • Must be a first-time homebuyer
  • Must purchase the home before November 30, 2009
  • Must file a tax return in 2010 to receive up to $8,000 tax credit 

The difficulty of this homebuyer tax credit…

Google Helps Buyers Find Homes

Tuesday, May 12th, 2009 at 9:18am. 172 Views, 4 Comments.

One the of the greatest features of the internet is its ability to allow people all over the world find local and specific information easily and efficiently.  For Real Estate, this means that homebuyers can easily find homes for sale that meet specific buyer criteria.  A typical home search might be:  Find homes in Salt Lake City's Sugarhouse neighborhood with 3 bedrooms, 2 baths, and a remodeled kitchen.  With just these few keystrokes, Google will find and display the 30 or so homes that meet your specific home search criteria.  What could be better!

Google Banned From Real Estate Listings?

Some people think that "better" would be to ban Google from being able to display this information all together!  Google (and other search engines) provide the…

Utah Home Buyers Can Save Up to $14,000

Monday, April 20th, 2009 at 12:39pm. 130 Views, 1 Comments.

With two recently passed government incentives, Utah home buyers can save up to $14,000 when they purchase a new home.  Under the terms of the American Recovery and Reinvestment Act of 2009, the federal goverment is offering first-time homebuyers an $8,000 tax credit.  Not to be outdone, the State of Utah has also approved a bill offering up to $6,000 in incentives to buyers who purchase a new construction home in Utah.  Here are the details of each program:

$8,000 Federal Tax Credit For First-Time Homebuyers

  • Home must be purchased between January 1, 2009 and December 31, 2009
  • The credit is calculated as 10% of the purchase price, with a maximum credit of $8,000
  • The full credit is available to tax-filers with modified adjusted gross incomes (MAGI) of $75,000…

Realtors Save You Money - In More Ways Than One!

Friday, April 3rd, 2009 at 2:34pm. 125 Views, 0 Comments.

Recently the Utah Title & Escrow Commission passed a ruling requiring minimum fees for escrow services related to buying and selling a home in Utah.  While in the past, typical fees ranged from $150 to $200 per transaction, the new required fees vary based on the sale price of the home and range from $150 to $350 per transaction.

Why Minimum Escrow Fees?

For years, the Utah Code has required Title Companies to charge no less than their cost for Escrow Services they provide to consumers.  These services include coordinating with lenders, Realtors, home buyers and home sellers, preparing paperwork related to the purchase or sale of a home (including preparing deeds and other legal documents), recording these documents with the county clerk when the transaction…

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