Real Deal Utah, Utah's home buying and selling specialists
Saturday Nov 29, 2014


Staging and Interior Design with Team Member Cristylyn Garcia


April 29, 2014   |   Comments (0)   |   By admin

The Critchfield Group Offers STAGING YOUR HOME TO SELL services, with our Powerful and Talented Team Member, Interior Designer, Cristylyn Garcia.

 

Cristylyn has worked the last 15 years directly in the Interior Design industry, including Owning her Own Design Company, working in High End Custom Furniture Store as an Independent Designer, Designing and Staging Real Estate Models and Commercial and Residential Projects and Listings. She is also an Award Wining Parade of Homes designer.

Her Innovation, Staging and Design has been featured everywhere from Historical Homes to Urban Lofts, from Suburban Mansions to Ski Lodges in Park City. She has been a huge source for furnishing and staging for many builders through out Utah, Including Rainy Homes, Hard Rock Homes, Lake City Homes and Ivory Homes.

She Currently uses her SKILLED EXPERTISE for the Benefit of her and THE CRITCHFIELD TEAM’S REAL ESTATE CLIENTS!

Services Include:

-Preview and Consult  APPOINTMENT

-STAGING REPORT with recommendations based off of appointment.

-Paint, flooring, refinishing, and remodeling PRODUCT SELECTION.

-Measuring, space planning, and PERSONALIZED FLOOR PLANS

-Accent Furniture and Accessory placement, to add the WOW FACTOR!

-Access to our Design blog, that includes TIPS & TRICKS for all you DIY fanatics.

 

 

If you are thinking of Buying and/or Selling and need help with Staging, Space Planning and Design, Contact the Critchfield Team to talk about your design options.

*A WELL STAGED HOME NETS 8% MORE THAN THE AVERAGE LISTING!*

 

CONTACT US TODAY!

801-891-5489

www.RealDealUtah.com

 

 


100% Financing with LOW LOW Mortgage Insurance USDA


April 16, 2014   |   Comments (0)   |   By admin

Amazing Financing Available in Utah’s Rural Communities! 100% Financing with LOW LOW Mortgage Insurance!

To find out how you can save $50-200 off mortgage with a USDA loan vs a FHA loan then  Click link to watch video now or read the report below.

100% Financing with LOW Mortgage Insurance Available for Utah’s Rural Communities!

For Example on a $200K HOME LOAN:

FHA Home Loan with 3.5% down and 3.75% interest your principle and interest payment would be $909 with $217 in mortgage insurance = together $1126

USDA Home Loan with 3.5% down and 4% interest your principle and interest payment would be $940 with $64 in mortgage insurance = together $1004

USDA Home Loan with $0 DOWN and 4% interest your principle and interest payment would be $974 with $66 in mortgage insurance = together $1040

 The USDA loan program is a Fantastic Loan that is government created to give Buyers an incentive to purchase their homes and build their lives in UTAH’s Rural Housing Communities.

Some of the Communities where the USDA loan program is available are:

  • Tooele
  • Saratoga Springs
  • Eagle Mountain
  • Sanaquin
  • Payson
  • Salem
  • Heber
  • Midway
  • and MORE…
  • For more information and locations see map  and check out USDA Eligibility by clicking here:    www.usda.gov
This is a great opportunity for Buyers to finally get that Home they have been dreaming of without having to come up with a HUGE downpayment or have an inflated monthly payment because of Mortgage Insurance costs.
Check out the Table below for a Comparison between going FHA or USDA on a $200,000 home.

The KEY advantages of this Loan are :

Zero to Little Money Down
LOW LOW monthly Mortgage Insurance
More House for the Money
Lower overall Mortgage Payment
Great Communities close to Growing Job markets.
We specialize in Helping People find these type of Homes
and get into this great Loan Program!
So if you are Looking to Get MORE HOUSE for the MONEY…..
….CALL US TODAY AND WE’LL FIND YOU THE PERFECT HOME!

And… If it is your time to sell,

Call me today

To get the best Cutting Edge Representation possible

On the SALE of your HOME!

 See if you would qualify for a USDA Loan here.

Click Here to:   Find out how much your home is worth

Search all homes for sale by clicking:    RealDealUtah.com

Justin Critchfield

Century 21 Everest

801-891-5489

http://www.RealDealUtah.com


2014 Real Estate Market Forcast


April 14, 2014   |   Comments (0)   |   By admin

Where are Utah’s home prices going in 2014?  We give you our best analysis below from the states top experts to top producing real estate agents who are in the market every day.  Watch the video now or read the report below.

2014 Real Estate Market Predictions

2013 Real Estate Market RECAP

  • Last year the experts predicted that the market would increase 10-12%.
  • My predictions for the year were 12-18%
  • The actual increase last year was 15%. It would have likely reached the 18% if rates would not have jumped mid year.

 

2014…Where is the MARKET GOING?…

  • This year, in 2014, the experts predict a 5-7% increase in home values.
  • I am Predicting, however that we will be closer to a 3-5%.

Here’s why….

The good news…

  • Utah is the 4th Highest job producing state in the country. We brought in over 40K jobs last year with the promise of bringing in 30-40K more again this year.
  • Foreclosures are at a 7 year low.
  • Interest rates are still really really low.
  • New construction home inventory is still low compared to 2007.

The bad news…

  • Interest rates will determine what our market does this year.
  • Median incomes have only slightly gone up.
  • Rising prices means less affordability

SUMMARY

If interest rates stay where they are at in the high 3-low 4% rates we very well could see that 5% home value increase.

However if rates start to head upwards, it is my guess that this will put a slow down or even halt the value’s growth significantly.

RIGHT NOW…

Rates are great right now, it is a fantastic time to get locked into a low rate on your current home or the next & it’s a great time to sell while Values are high!

If it is your time to buy or sell, Call me today to get the best deal possible on the sale or purchase of your home!

Find out how much your home is worth

Search all home for sale at RealDealUtah.com

 

Justin Critchfield

Century 21 Everest

801-891-5489

http://www.RealDealUtah.com

 

 

 


2013 FHA mortgage insurance will be on the life of the loan starting June 3rd 2013


May 2, 2013   |   Comments (0)   |   By admin

Any FHA loans that are locked in after June 3rd 2013 will have mortgage insurance for the life of the loan.  Currently, FHA mortgage insurance falls off after 5 years. That will not be the case after June 3rd.

So what does this mean for buyers and sellers?

1. If you are looking to sell May, is going to be a great time to do it because lots of buyers will be scrambling to find a home before the June 3rd deadline so that they don’t have to pay extra mortgage insurance costs. That means more desperate buyers and higher offers on your home! I expect things to cool off after this happens so don’t wait.

2. If you are looking to sell your home and buy another home with an FHA loan then you will want to start now and not waste another second. Having mortgage insurance for the life of your loan if you lived there all 30 years on a 300k home would end up costing you over 40k in extra mortgage insurance.

Call us today!  Check out our 47 day home sold guarantee and call us for a free no obligation appointment to show you your options.

 

Justin Critchfield

Century 21 Everest

801-891-5489

http://www.RealDealUtah.com


fha loan guidline changes for april 1 2013


February 12, 2013   |   Comments (2)   |   By admin

Update: FHA will be adding mortgage insurance for the life of the loan! But it got pushed back to June 3rd. 2013!

FHA has just announced their new changes to their loan starting April 1 2013. There are 2 changes. The first is minor. Mortgage insurance is going up from 1.25% to 1.30% (about a difference of $18 on a $200,000 loan.)  The next change is MAJOR!
They will have mortgage insurance stay on the loan for the full 30 years. Currently mortgage insurance drops off after 5 years. But now it will stay on for the life of the loan. Just to put that into perspective if you had a $300,000 loan and kept it for the full 30 years then you would be paying an extra $50,000!  You will want to buy sooner than later especially here in Utah since our home prices are raising fast. You will need to get an FHA case number before April 1, 2013. And you can’t get a case number unless you have a home under contract.

So contact us today and our “find it first team” and the best realtors in Utah will help y0u find your next home.

SELLERS…….

Come March their will be lots of buyers looking to get a home under contract before the april 1st deadline. If you have a home under 400k then I would strongly suggest you think about listing your home in march to catch the feeding frenzy of buyers. Contact us today 801-891-5489

Search all homes on the mls including all foreclosures and distressed properties.

Find out what your home is worth. Its free, easy, automated, and you will get actual MLS Sold homes in your area.

 

Justin Critchfield

Century 21 Everest

801-891-5489

http://www.RealDealUtah.com

 


When is the best time to sell your home?


January 30, 2013   |   Comments (0)   |   By admin

Selling your home at the right time and with the right people can make a big difference. But is there a better month or season to sell your utah home?

I get this question a lot and its actually a fairly complicated  but easy answer.  The peak real estate selling season here in Utah is in the spring and summer. We sell more homes during that time than at any other months of the year. More buyers are looking and its a convenient time to move etc.  One would natural think that spring/summer is the best time to sell, but the one variable that people forget is this.  Many of your neighbors are wanting to sell during that same time too. So your competition is usually more during that season.  So Spring/Summer = Lots of buyers but also = lots of sellers.

Fall/Winter are usually slower here in Utah. We don’t sell as many homes during this time but when it comes to selling your home their is a lot less competition.

So in short, it really is up to your personal preference when you want to sell. Right now in Utah we have a really low inventory, and prices are up and a lot of neighborhoods I’m seeing don’t have any “active” homes for sale. So If you put yours up for sale today then their probably is a great chance you will have 2-3 buyers fighting over your home. If you wait till spring time there may be 5-6 sellers and then your odds of getting a better offer go down.

Each situation is different and their is not a 1 size all answer that fits for everyone. So I suggest you contact us today and we will do a customized report on your situation and give you direct answers as to if its a good time to sell your Utah home.

* Get a free, accurate home value estimate online here.

Justin Critchfield

Century 21

801-891-5489

http://www.RealDealUtah.com


2013 Utah Real Estate Market Predictions (home prices)


December 24, 2012   |   Comments (0)   |   By admin

2013 Utah Real Estate Market Predictions

 

2012 was an amazing year for Utah real estate! We have finally hit the bottom and have seen home prices, in most areas, rise by 12%.

In January 2012, I noticed that lots were selling really quickly, most getting multiple offers. As a result, prices on lots started to shoot up. To my amazement they were all still selling despite the rise of prices!  I knew then and there that we had hit the bottom of our Utah real estate market and that prices would be going up.  It took a few months for the news to hit the public, but by the time the word was out we were down to only a 5-month supply of homes.  More and more buyers decided to get off the fence and buy; they realized they had to buy now. Because of this, inventory was low and prices were getting higher. By July we had seen a 6% increase in prices across most of Utah. This had exceeded all expectations by our local real estate board and economists and that was just the beginning.

A big reason for Utah’s increase in home prices is because of our job market. By the time you read this article our unemployment rate will probably be in the 4’s.  Jobs continue to come to Utah because we are rated #1 by Forbes Magazine as “The best place to do business”. These are major companies moving here like Boeing, Adobe, and Proctor and Gamble, etc, and this list will continue to get bigger in 2013 with more companies committed.

 

2013 Predictions

2012 concluded with a total of a 12% home price increase in most major cities. Sales are up 18% year to date, and pending sales are up 31%.  With stats like this it points to an even bigger year in 2013 for Utah.  I predict that in 2013 we will see at least a 12%-18% increase in prices.  With Utah’s strong job market, low prices compared to median income and low interest rates, I would say that 18% increase is a strong possibility.

If you are looking to buy in Utah then don’t wait because prices will continue to rise!

 

Find out what your home is worth! Its Free, accurate and takes less than 5 minutes!

Search for all Utah homes now!

 

Justin Critchfield

Century 21 Everest

801-891-5489

www.RealDealUtah.com


How Raise your Credit Score 90 points in 90 days


August 27, 2012   |   Comments (2)   |   By admin

Did you know that on FHA loans…your minimum credit score only needs to be a 640?  And you can get the same interest rates as a person that has an 800 credit score.  But other loans do base your interest rates on your score.  So if you need to raise your score for another loan to get a better rate, or you are just trying to get a 640 credit score then here are some quick tips to raise your score quickly.

 

Credit Scores are calculated in 5 categories. 1.  Your payment history 35% (if you have paid on time etc.)  2.  The amounts owed 30% (keep your balances low) 3.  Length of history 15% (the length of your credit lines)  4. New Credit Lines 10%   5. Types of Credit 10%   See the video for more details

 

Some quick fixes to raise your score.

1. Keep your Credit Card balances Low

Credit companies like to see you have big limits but no debt. So if you pay down your balances it can shoot your score up quickly!

2. Just know that if you pay off old outstanding bills that it more than likely will drop your credit score.

That’s because when you make a payment the credit companies will update your profile which will result in a negative score.

3. Check with your states Statue of Limitations.

Each state has different laws but in Utah if you have an outstanding credit card and the company doesnt have a lawsuit against you and you havent paid in 4 years then they legally cant come after you for the difference.

 

If you are looking to buy or sell your Utah home then please contact us.

 

Justin Critchfield

Century 21  801-891-5489

http://www.RealDealUtah.com


New Bank of America $30,000 short sale incentive


May 23, 2012   |   Comments (1)   |   By admin

Bank of America just released a new program available to home owners across the country including Utah. The program gives bowers who’s home loan is owned and serviced by Bank of America and opportunity to short sale their Utah home and in return they can receive between $2,500-$30,000 for relocation assistance. Yes you read right as much as $30,000!

This incentive is only available for a limited time. The short sale must be started before the end of 2012 and it must close by September 26, 2013 to be eligible.

Why is Bank of America doing this?  Although B of A has not said why, it is suspected that now that they have settled the lawsuit with “providing the notes” and “auto signers” etc. they are ready to get rid of all their bad loans and start fresh.

How can a Utah home owner that needs to short sale take advantage of this?   Contact us or go to our website and fill our contact form here. As you noticed in the article the bank is offering between $2,500 and $30,000 and it will be decided by a case by case basis how much the home owner will receive so you will want to make sure you contact someone that knows what they are doing and is able to negotiate the highest possible amount of relocation assistance for you.

Call us today!

Justin Critchfield

RCI Realty

801-891-5489

http://www.RealDealUtah.com

 

 


Succesful short sale: A buyers guide


April 23, 2012   |   Comments (1)   |   By admin

Succesfull Short Sales: A Buyers Guide

January 21, 2011

A Buyers Guide To Successful Short Sales.

Buying a Short Sale can be a great way to get a good deal on your next home.  However short sales are also known for being huge headaches and  time wasters.  This guide will help you understand how to successfully buy a short sale without as much pain and disappointment.

1st. Understanding what a short sale is: A short sale is when the seller owes more than their home is worth and the bank may approve a sell of the home and accept less than what they are owed. For example if you owe $250,000 but your home is worth only $200,000. Then you are asking your bank to let you sell your home for 200k and have the bank release you of your loan.

Now you know what a short sale is, we need to look at the pros and cons of buying one.

 

Pros:

-Usually they are good deals and are under market value.

Cons:

-They can take a long time. Average is 3-4 months to close. (can take as long as 12 months)

-The sellers and bank usually wont fix anything that may be a problem with the home inspection or appraisal require repairs.

-The bank may reject your offer and want a much higher price

-The seller may decide not to sign at closing even if the bank did approve your offer.

-The bank may foreclose on the property before the short sale is complete.

What you and your real estate agent need to know:

1st. Your Realtor should check with the other agent to make sure they know how to do short sales.

Even if they do short sales your agent needs to follow up with them weekly and make sure the bank got the paperwork. Banks lose paperwork all the time and this is the number one mistake agents make. Because if the bank is missing paperwork then they will not start your approval process. Lots of times agents are not experienced in negotiating and handling short sales. Your Realtor can find out how experienced they are by asking a few simple questions like, “How many short sales do you do a year? Have you worked with this bank before?” etc.  If the agent is not experienced and doesn’t do very many short sales than be prepared for a longer than normal wait time and a tougher sale.

2nd. Have your agent check the surrounding home sales to make sure the price is a reasonable offer for the bank to accept.

The Listing Agent and NOT the bank is who sets the price of the home and the banks aren’t dumb. If you have a $300,000 home and a price set by the agent is 150k the bank is not going to approve that. They know that its worth 300k because the will get an independent appraisal or BPO.

Since we do a lot of the BPO’s for these banks we know about what they will come in at. Even a realtor that doesnt do BPO appraisals for the bank will be able to give you a ball park estimate.  If the comparable home prices are high then be prepared that the bank may counter offer you and want more money for the home.

3. Ask a lot of questions about the condition of the home and look yourself as thorough as possible so that there are no surprising appraisal required repairs or big inspection related problems..

Realtors are NOT inspectors but if they are experienced they should be able to point out a few things that need to be at least brought to your attention.

4. Have your agent find out what bank has to approve the short sale and if there is a second mortgage on the home.

Since all banks differ in the amount of time it takes them to approve a short sale you should hire an agent that is familiar with short sales because  they should know about how long most banks takes to approve a short sale. This will give you an accurate time line on about how long the short sale will take.

5. When is the sale date?

Almost all short sale sellers are behind on their mortgage payments and as a result many sellers have a foreclosure sell date set where the bank will foreclosure on the Property. If this happens the short sale buyer is OUT!  The home has a chance to be re listed by the bank as a foreclosure  but this may take several months and prices could be higher.  Have your agent find out if and when the home you want to buy has a sale date. Note that these dates can and are often extended but just be prepared because it can be foreclosed.

After looking at all these indicators with my buyers I like to give my buyers an estimated percentage chance of getting the home and about how long it may take. So for example if there is a home for sale for 250k and its worth 275k there is a pretty good chance the bank will approve 250k about a 65% chance. If my buyer wants to offer 240k then their chances of getting it for that price are now 35%. Other factors will account for the estimates but if you have a good idea before hand it will help you know if you should be prepared that the bank may want more or if you need to look for another property.

More info and definitions  you NEED to know.

-“Price Subject to Third Party Approval” When you see this it means that the bank is the one that will decide the approval price and ALL short sales prices have to be approved by the bank.

-“Price Previously Approved” This means that the bank has previously approved a price and the first buyer backed out. If you offer the same previously approved price, its a pretty good chance they will accept that same price again. Sometimes you can offer lower but have your agent check w/ the listing agent because if its already a great price the listing agent/seller will not accept a lower offer because if they do it will delay the short sale further and also they know if they wait a few days they will probably get a buyer to buy at that price.

-“Accepting Back up Offers” Most Realtors will only submit one offer to the bank. This offer is not always the highest priced offer. It usually is the cleanest offer that has the best chance of approval and that will stick around.  If a home you like does not have a back up offer then you could be in back up position and if the first offer backs out then your offer then gets submitted to the bank.  1st offers fall through about 30% of the time so back up offers do have a chance. But there are so many homes for sale in our market that its usually better to find another property that doesn’t have an offer, or one that just had an offer back out then to wait hoping the first offer backs out.

Can a buyer write multiple offers on short sales? In Utah they can if you use the right forms. If you live in another state can check with their local real estate agents.

Making an offer on more than 1 property is not a bad idea. But making 3 or 4 offers usually will confuse buyers further on what they really want. If you find the right property for the right price, be patient have your Realtor put in the effort to find out what your chances are of at getting the home for your offer price. If the chances are 80% or higher then stick with that one house but if chances are 50-50 or lower, then maybe a second offer on another home would be a good idea. But I recommend no more than 2 offers.

Short sales can be great buys but know that there is no way to be 100% certain if a short sale purchase will happen. So be smart, choose an agent wisely that knows your market and understands short sales and you will have a much better chance at getting a great deal without the troubles.

I hope that helps! Let me know if you have questions or need help buying or selling a Utah home!

Search for Short Sales and Foreclosures Here

Do you need to prevent foreclosure or short sale your home click here.

Find out what your home is worth here

Justin Critchfield

Century 21

801-891-5489

http://www.RealDealUtah.com

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