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Provo, UT Real Estate News

By Katerina Gasset, Amplify Your Real Estate & Life Dreams!
(The Gasset Group & Get It Done For Me Virtual Services )
Moving to Provo Utah? That’s great news! I remember the rush of emotions I felt when I decided to move here myself. But you know one thing that had me feeling anxious? Figuring out how to set up my phone and internet services once I got here. It’s important to stay in touch with loved ones or manage work commitments, isn’t it? In this guide, I’ll share my experiences and tips to help you easily set up your phone and internet in Provo. What Internet Providers are in Provo Utah? Google Fiber 866–777–7550 Viasat Satellite Internet 1–855–501–3584 Verizon 5G Home Internet (844) 392–9788 T-Mobile 5G Home Internet (877) 673–1605 CenturyLink Fiber Internet 866–963–6665 Hughesnet Internet 1–833–374–0784 Xfinity Internet 21 W University Pkwy Orem Utah 84058(800) 934–6489 How Do I Set Up the Inter...
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By Alan Barker
(Boomerang Leads)
Price of homes in Saratoga Springs stayed pretty consistent until they jumped in 2005 and even more so in 2006.  Since then, numbers have slightly decreased. Saratoga Springs homes sold increased pretty steadily until 2006 then, like sold price, a decrease occurred.  This decreased lasted for two years then in 2009, Saratoga Springs Real Estate increased to a ten year high.
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By Alan Barker
(Boomerang Leads)
Provo Utah Condos did pretty well until 2007, when numbers turned around.  This eventually led to 2009 being a ten year low for sold condos in Provo.  Price has stayed pretty solid, with small increases and decreases close to an estimated appreciation curve.   Sold Real Estate in Provo Utah witnessed a pretty solid increase from 2000-2006, then an equally solid decrease from 2000-2009.  When only looking at number of Provo homes sold, it seems like nothing has changed in ten years.  Yet change has come in price as median Provo Real Estate prices have increased over time, staying quite close to a 4% appreciation line.  Average price increased more dramatically starting in about 2005, likely because of the number of high-end homes being sold.
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Energy Audits for Historical Buildings like the Utah County Courthouse in the Historic Provo District in Provo | Information gathered from any Utah energy audits in the Historic Areas of Utah County, Utah will be used to determine energy efficiency, retrofitting and weatherization projects using funds from the Energy Efficiency and Conservation Block Grants (EECBG). Retrofitting projects will include air infiltration, energy efficient windows and doors, insulation levels, weather-stripping and caulking, and electric base loads.   Using its EECBG formula funding to retrofit and improve the energy efficiency of a number of it's municipal buildings that will result in substantial reduction in energy usage. EECBG Formula grants can be used for energy efficiency and conservation programs and...
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By Alan Barker
(Boomerang Leads)
Provo Real Estate followed a similar trend that several other Utah County cities experienced.  Sold homes went up a decent amount and median and average sold price of Provo UT homes decreased.
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By Mark Watterson, Utah Real Estate
We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listingsand higher percent of new listings being SOLD.   SUMMARY Has the Utah Real Estate Market bottomed? Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those investor with low and/or no risk tolerance to purchase.  Investors with a long term buy and hold strategic.  Opportunities are starting to make sense.  Contact your property resource specialist for information to make an inform...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - Short Sale What is a Short Sale? With the present Real Estate market in turmoil and many home owners are having a hard time trying to sell their home, because they owe more than it is worth.  I keep getting the question from my buyers about what is a Short Sale and how does it work?  Well I will try and address that question here.  I hope I am accurate, I am sure I will hear about it if I am not. What is a Short Sale? A Short Sale occurs when a property sells for a price that is insufficient to pay back the loans secured by the property (or any other liens against the property, such as delinquent property taxes, Homeowners/Condominium Association fees, etc.), as well as standard sales closing costs.  In order to complete such a sale, the Seller must either: •· ...
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Energy Audits for Historical Buildings in Utah Information gathered from any Utah municipal energy audits in Provo and Utah County, Utah will be used to determine energy efficiency, retrofitting and weatherization projects using funds from the Energy Efficiency and Conservation Block Grants (EECBG). Retrofitting projects will include air infiltration, energy efficient windows and doors, insulation levels, weather-stripping and caulking, and electric base loads.   Using its EECBG formula funding to retrofit and improve the energy efficiency of a number of it's municipal buildings that will result in substantial reduction in energy usage. EECBG Formula grants can be used for energy efficiency and conservation programs and projects community wide, as well as renewable energy installations ...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate - What can you afford to buy? Many factors come into play when you attempting to figure out how much you can afford in a new home.  In addition to your monthly mortgage payment, there are closing costs, moving expenses, plus purchases and maintenance for the new home.  The rule of thumb is generally considered, your gross income multiplied by 2.5, will give you an approximate amount for the price of home you can afford.  The amount will vary depending on how much you have as a down payment, your debts, financial situation, and credit history and rating.  Your debts, including alimony and child support, should not be more than 30 to 40 percent of your gross income. Monthly Mortgage Payment Lenders are very careful to make sure you have the ability to repay your lo...
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By Erelopro Out of Business, Relocation Professionals are out of business
(erelopro)
Provo, Utah Realtor Leads - (800) 900-2807 Even through this Real Estate downward spin, we are still seeing an increased number of families relocating to cities such as: San Diego, Austin, Provo, etc… Still the #1 drive is jobs, and that cannot be disputed. Although another big reason for relocation that started in 2008, was due to great foreclosure prices. Cities such as Scottsdale, and Provo have both seem dramatic drops in real estate prices, which is driving the people to purchase real etate in those cities. If you are not working with families whom want to purchase foreclosed homes, you are leaving a huge chunk of money on the table. One of the top discussions right now on RealTown and ActiveRain is in regards to boosting your business with foreclosures. Call us at (800) 900-2807 ...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Real Estate First Time Home Buyer - Home Buyer Tax Credit Info Typically a First Time Utah County Home Buyer is considered to be someone who has not had an ownership interest in a home for 3 years or more.  Some home loan guidelines are longer than that.  There are many Down Payment Assistance grants, low interest loans and credit assistance programs available for First Time Utah County Home Buyers.  First Time Utah County Home Buyers should consult a Mortgage and Real Estate Professional early in the home buying process to learn all they need to know about is available to them. Several criteria are considered when evaluating the loan programs for First Time Utah County Home Buyers, Credit History, Income vs. Debt, and equity or investment in the subject property being the m...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Inspection Well, you just made an offer on a beautiful new home.  You are excited about the possibilities that this new home is going to bring to you and your family.  Don't let this dream turn into a nightmare because you decided not to spend a little extra money on a Home Inspection. A study conducted by the American Society of Home Inspectors and the NAR in 2001 found that 77% of all homebuyers insisted on a Home Inspection prior to purchasing their property, and 97% of that group believes the service was a good value for the price. Next to the financial contingency in the Real Estate Purchase Contract, the Home Inspection is the most reason you need to consider before purchasing the home.  This is where you have the right to back out of the contract, if the report i...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
What is a Utah County Short Sale? With the present Utah County Real Estate market in turmoil and many home owners are having a hard time trying to sell their home, because they owe more than it is worth.  I keep getting the question from my buyers about what is a Short Sale and how does it work?  Well I will try and address that question here.  I hope I am accurate, I am sure I will hear about it if I am not. What is a Short Sale? A Short Sale occurs when a property sells for a price that is insufficient to pay back the loans secured by the property (or any other liens against the property, such as delinquent property taxes, Homeowners / Condominium Association fees, etc.), as well as standard sales closing costs.  In order to complete such a sale, the Seller must either: •·         Com...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Contingencies and the Utah County Purchase Offer When it comes time to make an offer on your new home, occasionally there are a few obstacles that make it difficult.  It is sometimes hard to discover all the potential problems that might go wrong, but you might want to anticipate some so that you can cancel the contract without penalty.  These are called "contingencies and you must make sure to include them when you offer to buy a Utah County Home. One of the more popular contingencies is, having to sell a previous home before purchasing a Utah County Home.  Making the closing the sale of the home a condition of your offer is important to avoid having to pay two mortgage payments instead of one.  Other popular contingencies include the ability to obtain financing, property appraising hi...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Loans and Private Mortgage Insurance (PMI) - Utah County Real Estate Private Mortgage Insurance is used by Utah County Home Loan Buyers to insure the lender against default if the borrower has less than 20 percent down.  Private Mortgage Insurance can be a very costly insurance premium that is necessary as part of loan qualifications set by Fannie Mae and most secondary market investors.  With the right loan, it doesn't have to be an obstacle.  How much does Private Mortgage Insurance Cost?  PMI increases your monthly payment and could be tax deductible.  PMI varies, but can be estimated by taking about one-half percent of the total loan amount.  With a home selling for $300,000 and 10 percent down or $30,000, the annual cost of PMI on your $270,000 loan would be approx...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County First-Time Home Buyer - Utah County Real Estate Well the time has come; you are finally out making a good living.  You are beginning to get tired of paying rent, the number one advise that friends and family are giving you is, Buy a House.  By this time you are about to be hitched and have probably saved enough money for a down payment.  After a fair amount of thinking about it, you jump over the first hurdle and decide to go for it.  Now once you are focused about what you want you then jot down a list of things you want in a house.  That being done the search begins.  These days the task of sifting through hundreds of potential Utah County houses is not as hard.  With a few mouse clicks, you can see multiple house listings and take virtual tours of houses for sale. The key...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Buyer 101 - Getting Pre-Approved The time has come to start shopping for a Utah County Home to purchase.  The first thing that you should do is to get pre-qualified for a Utah County home loan.  It is very important to understand what your price range is prior to looking so you don't waste time looking at properties that are out of your price range. Where do you begin? Most Utah County Realtors work with a trusted network of Mortgage professionals, who can assist you in getting pre-approved for a loan so that you can comfortably begin looking at homes with the assurance that you can obtain the proper financing. Generally, Utah County loan officers can help you with a pre-approval by getting some basic information (address, social security number, etc.) over the phone or...
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By Mark Watterson, Utah Real Estate
We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.    SUMMARY Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperien...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Home Buyer Representation - Buyer Agent vs. Seller Agent During the past 25 or so years, Utah County home buyers have been able to choose between Buyer agents or the Sellers agent representing the Seller, to buy a home from. Many buyers didn't even know that they could use a buyer agent or even if they were available. Most home buyers assumed the agent showing the home represented them. Seller agents were obligated to represent the seller's interest unless they had a separate written agreement with the buyer to represent them. The FTC did a study of the Real Estate brokerage industry in 1983 and determined that most home buyers actually thought that the Real Estate agent showing them homes was working in their best interest, the vast majority were wrong. The FTC started putt...
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
First-Time Home Buyer - Utah County Homes for Sale Typically a First Time Utah County Home Buyer is considered to be someone who has not had an ownership interest in a home for 3 years or more.  Some home loan guidelines are longer than that.  There are many Down Payment Assistance grants, low interest loans and credit assistance programs available for First Time Utah County Home Buyers.  First Time Home Buyers should consult a Mortgage and Real Estate Professional early in the home buying process to learn all they need to know about is available to them. Several criteria are considered when evaluating the loan programs for First Time Utah County Home Buyers, Credit History, Income vs. Debt, and equity or investment in the subject property being the most important. Well the time has co...
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