Avoiding Foreclosure by Using Short Sales - What Are the Risks?

In essence, a short sale occurs when a lien holder agrees to take less than the amount owed on a property in order for the owner to successfully sell it. There are varying reasons to short sale a property. Owing more on a property than it is worth is obvious, but most owners could just wait until a market recovers if other circumstances in their lives would allow for this. This is not a reason for a short sale on its own however.

With the current crisis be sure to review our article on Covid-19 loan forbearance and the help it could provide for those with federally backed loans. As well, all things have a dark side so be sure to review the risks associated.

Real estate values

Simple Ways to Take the Stress Out of Moving into a Brand New Home

If you already own a home but are planning to move into a new construction home, consider placing your current one up for sale prior to the completion of the new one. Once the current residence is sold, it can bring peace of mind that one step of the transition process is complete. Another benefit of selling your current home early is avoiding two house payments, double utilities, and the time and effort involved in managing an empty home. 

There's also a downside to selling before the new construction is complete. It may require two moves, but if you negotiate creatively and have a good agent, you may be able to avoid that. One option is to put your home under contract but set

Generally speaking, home sellers want their home sold as quickly as possible. When the process takes longer than expected, the seller wants to know why (rightly so). We’ve compiled a list of the most common mistakes that lead to a real estate listing not selling, and how to fix them!

1. 
   The photos suck.

   First Impressions Matter!

   The search starts online; over 93% of buyers are using the Internet to find their home. Bad lighting, grainy quality, or even just bad angles can turn someone off in an instant. Hiring a professional photographer costs more but pales in comparison to the amount of money you are leaving on the table if you don't. Read more about professional real estate photography HERE.
   
   

2. 
   As is?” Psh, as if.

   Repairs,

Hardship Letter is One of the Most Important Documents in Loan Modification and Short Sale Processing

Borrowers who are considering a short sale of their property or doing a loan modification must be prepared to provide the lender with a hardship letter. This letter describes the financial distress which the Borrower is undergoing. Along with the financial information such as tax returns, personal financial statements, cash flow worksheets, etc., the hardship letter paints a very good picture of the Borrower's situation that the tax returns and other hard numbers may not convey.

A hardship letter should not be longer than one page. It can be, but it is better to present your case clearly and concisely in three to four paragraphs at the most.

** New Listing **

650 N Main St, Clearfield UT 84015  

$326,000 | .78 Acres | MLS# 1664561

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A wonderful opportunity awaits at this highly visible property adjacent to the 650 N exit and entrance ramp on Interstate 15. The location is ideal for many different types commercial ventures, including restaurants, business services, beauty or health salons, or financial services.

The parcel is surrounded by a well-established commercial district on .78 acres of useable land with power, gas, sewer and water all available. The zoning is C-2 with the purpose providing for areas of larger-scale community commercial development. Such zones cater to regional markets and generate traffic from a much larger regional area. The volume of

Here's your market update for February 2020 compared to February 2019 for Utah. Information for the entire state is available as well as individual counties. More detailed reports for Davis, Weber, and Morgan counties are included as well. Check out the amount of new listings as well as the average sale price for the state of Utah. If you have any questions or comments, please feel free to give us a call! We'll be doing these updates monthly but information will be for the month prior. We also have market reports for individual cities available now. 

** New Listing **

558 Mill Rd lot 136, Huntsville, UT 84317 

$84,900 | 2.35 Acres | MLS# 1657076

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Escape to a heavily wooded lot surrounded by quaking aspens, scrub oak, and rolling mountains about 25 miles east of the hustle and bustle of Ogden. This private Causey Estates Lot is perfect to use as an exclusive private camp ground, or to improve with a custom cabin. The 2.35 acre lot offers water and power and provides a slope on the east side of the lot, and a relatively mild grade near the road. The property includes a shed, a propane tank for gas and other improvements.

A private gate at the south end of Causey Reservoir provides entrance to the mountain community, offering plenty of privacy as well as access to

** SOLD **

85 S 1450 W, Clearfield UT 84015 

$489,900 | 4 Units | 8 Bed | 4 Bath | 3,944 SF | .27 Acres | MLS# 1665195

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An investor special, this four-plex apartment building offers a unique opportunity. The property consists of four units, two of which are upstairs and two are downstairs. Units one, two and three were remodeled between 2016 and 2019 with new paint, flooring appliances and furnaces. Unit four received new furnace ducting for proper air handling in 2019. All the windows were replaced and upgraded in 2016 and included all new blinds. 

In 2018 and 2019, new evaporative coolers were installed above units two and three, and the roof was replaced and includes architectural shingles. The north driveway was repaved

** SOLD **

3615 N Wolf Lodge Dr #401, Eden UT 84310

$225,000 | 2 Bed | 2 Bath | 1,152 SF | .08 Acres | MLS# 1665026

Located near the 12th tee box at Wolf Creek Golf Course, this convenient condo is surrounded on all sides with outdoor mountain recreation. Not only is there a full summer’s worth of activities, such as mountain biking, water sports at Pineview, rock climbing and fishing, the winters are also full of alpine skiing, snowshoeing and snowmobiling.

Beautiful finishes and an open floor plan welcome you into this fully remodeled, two bedroom condo. Upgrades include a sturdy tile and wood laminate floor, gorgeous kitchen and bar, built-in shelving and a cozy stone fireplace. In addition to the living room, kitchen and dining area,

** Ski in/Ski out Lots | Now Taking Reservations **

 Aspen Ridge at Powder Mountain

Come and live at the top of the mountain! | Presented by Anita Oliveri

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Virtually on top of the world lies a pristine ski and mountain bike community ripe for creating a dreamy mountain escape with unmatched views of the surrounding valleys. Aspen Ridge is located a stone’s throw from the top of the Hidden Lake Express lift, the Hidden Lake Lodge and Sky Lodge at Powder Mountain, one of North America’s largest ski resorts.

The community is comprised of eleven build lots, the northernmost parcels are directly adjacent to the ski resort’s Lodge Trail run leading to the Timberline Lodge. The trail leading to Powder Country is to the south of the