FHA Financing Can Impact Utah Real Estate Recovery
FHA Financing can impact the Utah Real Estate recovery and there is not much we can do about it.
Lots of things are happening in the housing market nationwide that can and probably will have some effect on whether you sell or buy a home or condo in Salt Lake.
Homes for sale in SLC are becoming more and more dependent on items totally out of the control of local Real Estate specialists..
Financing, debt forgiveness, rewriting mortgages, postponing foreclosures, how FHA Loans will change our home buying habits are the hot topics of the day.
Thats why we have cultivated a team of professionals that can keep us informed about whats taking place in our industry during these volatile times.
Candy Olson @ Security National Mortgage Company is one of those pros we depend on to deliver that information. We count on her to let us know whats going on and how it could help or hinder the purchase of a new home in Salt Lake.
Here is the latest valuable real Estate Information from Candy.
Perhaps the most important piece of real estate news coming out of Washington this past week was mentioned almost as a "by the way" by Housing and Urban Development Secretary Shaun Donovan. At first I wasn't sure what I heard and the interviewer didn't seem to pick up on it much. But by Sunday Morning the politicians (especially Charlie Crist from Florida) had picked up on it and had the Sunday Morning news shows buzzing a little on the subject. He was talking about two new FHA initiatives the Obama Administration will be rolling out shortly to help homeowners stay in their home.
"We're going to be rolling out an FHA refinancing effort to help borrowers who are under water in their homes get above water," Donovan said, "And second, we're launching an emergency homeowners' loan program for unemployed borrowers to be able to stay in their homes." Does that matter to Real Estate Agents and Mortgage Professionals in Salt Lake City? You better believe it does. It helps keep bank owned property off the market. REO property gluts the market, drives prices down and blights neighborhoods. Anything that helps keep people in their homes is a good thing. It's not like these folks would be moving up, they are just holding on to what they have.
BUT That wasn't even the biggest news in my opinion. Almost as an after thought (if you saw the interview)
Secretary Donovan mentioned that the $8,000 tax credit to first time home buyers was under consideration and might be coming back. I think we all understand very well what that could mean for us. Most of us know that home sales were down across the board in Utah last month. Any news like this is met with open arms.
I think you can see that Candy knows her stuff. You can reach her @ Candy Olson for loans, anytime.
Get to know her. Put Candy on your team of Real Estate Professionals. Candy works great with first time home buyers, she knows how to get the most from FHA, She understands Utah Housing, and where to go for 100% loans. Candy Olson knows the Salt Lake Mortgage business.
If you are still looking for that home on Salt Lake, be sure that you have Candy get started on pre qualification for your home loan.
The best deals on houses or condos in Salt Lake are usually Bank Foreclosures and the great ones are under contact quickly. Banks wont look at offers unless they are accompanied by an approval letter so if your serious about getting that new home in Salt Lake call Candy today.
If you have any other Real Estate questions stop by Salt Lake Real Estate Information and get help from some of the best Realtors in the business.
Or just call us @ 801-567-0946 we know more than how FHA Financing Can Impact Utah Real Estate Recovery.