| Welcome to eNewsletter |
Welcome to our monthly eNewsletter - coming to you each month with the latest happenings in the Utah Real Estate market.
We are local Real Estate professionals. In this increasingly complex market, it is our duty to keep you informed with current industry issues and market conditions. If you have any real estate needs, call or email us anytime.
Regards,
zoomUTAH.com
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| Today's Real Estate Agent |
Here at Zoom Real Estate we pride ourselves on maintaining the highest standards of service to our clients. Today's real estate industry has changed. The old way of serving home Buyer's and Sellers has changed. It is important for you as a member of Zoom to realize that we are keeping pace and incorporating the modern methods and means for serving you. It really is an exciting time.
When it comes to representing you and supporting you through these unique times, we stand prepared to negotiate and stand strong for your best interests.
Here in our Newsletter we will periodically provide you with valuable insights as to what is happening out there and how we, as your trusted agent, respond.
Regards,
Your ZOOM Real Estate Agent
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| Home Run Grant 2 - Now Available! |
Governor Herbert has taken the helm and is utilizing stimulus funds to eat up more unsold, unfinished and yet to be built homes in Utah. The original Home Run Grant was wildly popular among Utah residents. There were 1666 grants available and they were eaten up in just over two months. This time around, the offering is for a $4000 grant that is very similar to the $6000 predecessor. I would like to direct you to our June newsletter for information on the original Home Run Grant. There are unique differences in the parameters of each grant.
Allow me to point out the unique features of the Home Run 2 Grant:
What is the $4,000 Home Run 2 Grant?
The Home Run 2 Grant is a mortgage assistance program that grants $4,000 to home buyers who wish to: (A) have a new home constructed, (B) have a partially-constructed home completed, or (C) purchase a newly-constructed home. It must be the primary residence of the home buyer. Homes that have been previously occupied do not qualify.
How is Home Run 2 different from the first Home Run program?
The first Home Run program, which ended in June 2009, provided a $6,000 grant to eligible home buyers. Home Run 2 provides a $4,000 grant. The first program required that homes be ready for occupancy upon closing. Home Run 2 buyers have two additional options. They can purchase a home that is contracted for construction or partially finished and contracted for completion. Homes that have been previously occupied do not qualify.
When a Home Run 2 Grant Commitment is issued, if the Eligible Home is fully constructed, the Commitment expires 10 calendar days after the date of issuance (unless that day falls on a weekend or holiday and then it is the following business day). If the Eligible Home is somewhere in the construction process, the Commitment expires on June 30, 2010.
All Home Run 2 Grants requests must be received on or beofre November 30th, 2009. Incomplete request packages will not be considered for committments.
The trickiest part about this grant is making sure you fund your loan within the 10 day allotment after the grant commitment is issued. We are a direct Lender and our process is very predictable. We close loans in our name, with our funds and draw our own documents for closing. Once we have you approved, it's easy for us to close you within a week. If you are dealing with a Wholesale Broker, their turn times are not very predictable. Please make sure you use a direct lender and escape the misery of losing the grant funds at the last minute.
We welcome calls from our Members. We want you to be fully informed, and welcome the chance to help you take advantage of this opportunity.
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| ZoomUTAH Sponsors Dodge Ball Tourney |
zoomUTAH.com is sponsoring the upcoming charity dodgeball event presented by Deron Williams and Kyle Korver of the Utah Jazz.
We will be holding a raffle for a Utah Jazz autographed basketball and other prizes, where all proceeds will be donated to charity.
The event will benefit the Christmas Box House of Salt Lake City. The Salt Lake Christmas Box House provides temporary shelter and assessment services to children up to the age of eleven who have been removed from their homes due to abuse or neglect.
"It's very important that all of us embrace the idea of giving back to our local community. We are happy to have the opportunity to support the cause, and look forward to competing in the tournament."
We invite everyone to come down and show your support.
Saturday September 12th, 2009
9:00 AM
Zions Bank Basketball Center
1414 S 500 W
Salt Lake City, UT 84115
For more information visit deronwilliams.net
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| $8,000 Tax Credit Ending Soon - Act Fast! |
The clock is ticking and time is winding down. If you are thinking about buying a house in order to take advantage of the $8000 first time home buyer tax credit, you need to act now.
As it currently stands, there are just under 90 days left to do so. If one is to approximate an escrow period of 30-45 days, they would see that the window of opportunity is closing fast.
When President Obama signed the American Recovery and Reinvestment Act of February, it extended the termination date for the first time home buyer tax credit to December 1, 2009. This has resulted in great benefits for first time home buyers and a significant impact on the housing market. The National Association of Realtors estimates that as many as 2.5 million first time home buyers will take advantage of the $8000 tax credit this year.
I have helped many first time home buyers take advantage of this tax credit. I've even been able to combine local city and state grants for my clients saving them thousands. Right now you could shave $22,000 off of a home depending on certain qualifications and area of interest!
If you are thinking of buying a home and have more questions, please contact me at any time.
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| zoomUTAH is on Facebook! |
Check out our Facebook page for breaking Utah Real Estate news, happenings at zoomUTAH.com, and special offers to our members!
Become a Fan!
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| Recent Market Trends |
Active Listing Inventory
This report shows you how many active listings were on the market at the end of each month. Inventory has been slowly getting absorbed which means we are headed for a more stable market. Over the next few months we wouldn't be surprised to see listings go up however, which is usually the case in spring and summer.
| Month |
Month End
Listings |
| March |
31,009 |
| April |
31,205 |
| May |
32,301 |
| June |
31,282 |
| July |
31,476 |
| August |
31,022 |
Monthly Sales
This report shows you the last 3 months price per square foot averages on sold homes as well as the average days on market for their respective counties.
| Month |
Avg $ Per Square Ft |
Avg Days on Market |
| Salt Lake County |
| June |
$105 |
82 |
| July |
$102 |
77 |
| August |
$103 |
81 |
| Utah County |
| June |
$84 |
90 |
| July |
$83 |
86 |
| August |
$84 |
88 |
| Davis County |
| June |
$89 |
80 |
| July |
$90 |
84 |
| August |
$89 |
78 |
Home Sales By Quarter
This report shows you the home sales in 2008 by quarter.
| Quarter |
Avg Sold Price |
Total # of Homes Sold |
Total # of Homes Listed |
| Salt Lake County |
| 3rd/2008 |
$266,700 |
3,098 |
7,697 |
| 4th/2008 |
$261,700 |
2,114 |
5,411 |
| 1st/2009 |
$262,300 |
1,745 |
6,250 |
| 2nd/2009 |
$273,213 |
2,483 |
6,401 |
| Utah County |
| 3rd/2008 |
$250,000 |
1,365 |
3,323 |
| 4th/2008 |
$246,400 |
946 |
2,695 |
| 1st/2009 |
$248,200 |
814 |
3,221 |
| 2nd/2009 |
$240,554 |
1,117 |
3,245 |
| Davis County |
| 3rd/2008 |
$238,200 |
919 |
2,116 |
| 4th/2008 |
$231,200 |
677 |
1,597 |
| 1st/2009 |
$236,500 |
586 |
1,780 |
| 2nd/2009 |
$233,140 |
781 |
1,853 |
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| Mortgage Rate Watch |
Today's Rates
| FHA/VA 30 Year Fixed |
5.125% * |
| Conv. 30 Year Fixed |
5.125% * |
| 15 Year Fixed |
4.500% ** |
*APR of 5.400%
**APR of 4.800%
Rate Trends (Last 3 Months)
To get a personalized mortgage
quote call us at 801-266-2466.
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Sponsored By:
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| Salt Lake City's Finest - Franck's Restaurant |
We would like to welcome Franck Peissel to the Zoom family. We requested, and he has graciously accepted, to supply our members with one of his famous, award-winning recipes that you can only find here. If you prefer to have your meal cooked for you, we invite you over to Franck's for an incredible meal and experience!
Recipe For Pan Seared Sea Scallops With
Baby Vegetables in a Lobster Vanilla Bean Sauce
Ingredients:
- 10 scallops
- 2 sprigs of thyme
- 3 tablespoons olive oil
- 3 tablespoons butter
- 5 each baby carrot blanched
- 5 baby zucchini cut in half
- 5 each baby golden beets, blanched
- 2 sprigs of sage
- 1/2 cup of white wine
- 3 tablespoons sugar
- salt and pepper
Lobster vanilla bean sauce:
- 2 lobster shells.
- 2 each fresh vanilla bean
- 1-1/2 cup of white wine.
- 1 cup of heavy cream.
- 1/2 ribs celery sliced
- 2 tablespoons butter
In a saucepan put the lobster shell, white wine, celery, and the vanilla bean cut and half and pull the inside, keep on the side.
Let reduce by half and add the heavy cream, and reduce by half. Pass through a fine sieve and add the inside from the vanilla bean. Let sit, reduce and add the butter.
In a saucepan put the olive oil seared the scallop until golden brown in one side add the thyme and butter and return them, don't cook to long.
Sautee the carrot with butter sage and sugar salt to test. Sautee the zucchini with olive oil and salt/pepper to test. Sautee the golden beets with butter, white wine, sugar, and salt to test. Arrange the scallops around the plate. Put the mixed vegetables in thes center and pull the sauce. Bon Appetit!
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