7 Maintenance Points for Spring...

When you fall in love with a house, it is so easy to overlook its bad points and the flaws in maintenance.

Still you have to be practical if you are making a major home purchase or if you just want to properly maintain your home.

Even if the house looks well maintained, you should give it this quick 7-point review.

1 Trees. Check them out. Dying trees and dead branches are an emergency waiting to happen. The first spring storm that comes around might give you some very serious damage. Look for bent branches, if you had a heavy snow storm in the winter. Look for tree roots peeking through the soil as it can suggest a shallow-rooted plant.

2 Pavement condition. To put it simply, cracks happen. Still, you should evaluate the pavement condition and ask yourself if it appears generally solid.

3 Gutters. They should be clean.

4 Air conditioner condenser. The first thing you think about when you look at a house is no doubt NOT the air conditioner condenser. But it is worth taking a look. The condenser should be free of debris, leaves and dirt.

5 Deck integrity. Look for areas of wood rot, chipping or raised fibers on the wood. Observe the overall strength and stability of the deck.

6 Garage door operation. Simply: Does the door open and close? That is not something you want to find out after you move in.

7 Downspouts. Look to see that rain is directed away from the foundation of the house.

You will know best how each of these points should be weighted. For example, you might expect a newer home to have a pristine driveway. Meanwhile, an older home packed with charm but might have a driveway with a crack or two. You'll have to decide how important each point is.

FREE Tickets to Spring home expo @ UVU

If anyone wants FREE TICKETS to the Spring Home Expo at UVU on April 24-25, 2009, let me know. Just leave your address in the comment section and how many you want (No LIMIT) and I will mail them to you. Held at the McKay events Center April 24-25, 2009. 11 a.m. to 8 p.m. daily. Leave your address or call me. Thanks!!

4 Reasons to STOP renting

Last year's Housing and Economic
Recovery Act offered new homeowners
a $8,000 tax credit if they bought a
home before June 30. According to that
plan the $7,500 tax credit would be repaid
over 15 years with annual payments
of $500 added from the borrower's income
tax bill. The credit is an excellent
deal, since it offers home buyers what
amounts to an interest free loan.
But the Congress and President
Barack Obama have vowed to sweeten
that deal by extending the credit and
delaying repayment.
For first time homeowners, this promises
to be a one-time bonanza during the
best time in history to
buy a home.
Here are just some of
the reasons why the cost
of housing will probably
never be more economical.
1 Inventory of new homes is tightening.
That means there are fewer new
homes for buyers to buy. It's basic economics:
When the supply goes down,
the price goes up.
2 Congress is moving to close off the
dribble of foreclosures on pre-owned
homes. Again, with fewer houses going
on the market via foreclosure, the supply
of homes will go down and price increases
will soon follow.
3 Interest rates are fantastic right now.
The best borrowers can now get 30-year
mortgages at rates under 5 percent.
4 Obama's promised new stimulus
packages will likely extend and sweeten
deals for homeowner.
The fact is that now might be the best
time in your life to buy a home.

$14,000 Do you qualify ? $8000 + $6,000

$8,000 Tax Credit - At A Glance

If the mortgage interest, property tax, and slew of other homeownership tax deductions weren't enough, Congress has added yet another homeownership incentive: A dollar-for-dollar tax credit of $8,000 when you purchase a home. Want to know if you qualify? Here's an overview of this newest tax break:

Amount of Credit

Ten percent of the cost of the home, not to exceed $8,000.

Eligible Home Buyers

Home buyers (including spouses) who have not owned a principal residence in the three years prior to the purchase. Those who do not own their principal residence but own a vacation home or other property also qualify for the credit if they are purchasing a principal residence.

Eligible Properties

Any single-family home, town house, condominium or co-op that will be used as a principal residence.

Income Limits

Taxpayers with adjusted gross incomes of up to $75,000 for singles and $150,000 for couples qualify for the full credit. A partial credit is available to taxpayers who make more than those amounts, not to exceed $95,000 for singles and $170,000 for joint filers.

Qualifying Dates

The credit is available to those who purchase a home after Jan. 1, 2009, and before Dec. 1, 2009.

Refundable

The credit will reduce any tax liability owed for the year. If there is excess, the money will be refunded. For example, if you owed $1,000 in taxes and used the $8,000 credit, you could receive a rebate check of $7,000.

Recapture

There is no repayment for purchases made after Jan. 1, 2009, and before Dec. 1, 2009. However, if the home is sold before three years, the entire amount is recaptured upon the sale.

$6,000 Home Run Grant... Now Signed!!

What is the $6,000 Home Run Grant?

The Home Run Grant is a mortgage assistance program that grants $6,000 to home buyers who purchase a newly-constructed, never-occupied primary, single-family residence in Utah. The Home Run Grant is funded by the Housing Relief Restricted Special Revenue Fund, established by Utah Governor Jon Huntsman, the Utah State Legislature, and Utah Housing Corporation.

When is the Home Run Grant program being launched?

The governor has signed the bill into law and the program is now launched.

Who is eligible to receive a $6,000 Home Run Grant?

• Home buyers must meet the following income restrictions:
• Single person, $75,000
• Married couple, $150,000
• If more than one unmarried person is taking title to the Eligible Home, each such single person is subject to the $75,000 income limit.
• Home buyers must occupy the purchased home as a primary, permanent residence no later than 30 days after closing.
• If home buyers need a mortgage loan to purchase the home, the loan must be a fixed interest rate, amortizing mortgage loan with a term of 30 years or less. Cash buyers can also qualify by contacting Utah Housing Corporation directly.

How does a home buyer get the Home Run Grant funds?

To get a first-come, first-served written commitment for the Grant, home buyers must:

• Enter into a written contract to purchase a newly-constructed, single –family home.
• Contact a lender to obtain final underwriting approval for any needed financing.
• Have their mortgage lender furnish required documentation to Utah Housing Corporation for the Grant.
• Utah Housing will reserve the $6,000 Grant for 30 days.

What homes can be purchased with a $6,000 Home Run Grant?

Homes must be recently-constructed, single-family residences that have a Certificate of Occupancy or a Final Inspection. They cannot be previously-occupied. Eligible property types include single-family detached homes, condominiums, planned unit developments (PUD), twin homes, town homes and manufactured homes permanently affixed to a foundation.

How does a home buyer apply for a $6,000 Home Run Grant?

Home buyers should tell their home builder, realtor and mortgage lender that they want to apply for a Home Run Grant. Mortgage lenders are the key link between the home buyer and the Home Run Grant. The mortgage lender assists the home buyer to provide necessary information to secure the grant from Utah Housing Corporation. The home buyer does not work directly with Utah Housing Corporation (unless it is a cash buyer).

What type of loan can home buyers use to purchase the home?

If home buyers need a mortgage loan, it must be a fixed interest rate loan with a term of 30 years or less. Loans may be obtained from any lender qualified to make mortgage loans under Utah law. Examples of qualifying loans include:

* Conventional

* FHA, VA, or Rural Housing

* Utah Housing Corporation’s FirstHome and FirstHome Plus

What mortgage lenders can assist homebuyers to secure a $6,000 Home Run Grant?

Any mortgage lender qualified to make mortgage loans under Utah law can assist home buyers to secure the Home Run Grant.

Do I have to be a first time home buyer to get a Home Run Grant?

No. Home Run Grants are available to all home buyers who meet the income restrictions of $75,000 for singles, $150,000 for couples and, if more than one single person takes title, the $75,000 limit applies to each such single person.

Can the $6,000 Home Run Grant be combined with the new $8,000 federal tax credit?

Yes, if a home buyer is a first-time home buyer and meets the independent criteria of both the federal and Home Run programs, they may take advantage of both. The $6,000 Home Run Grant is available to both those who are first-time home buyers as well as those who previously owned a home. The $8,000 federal tax credit is available only to first-time home buyers.

How many Home Run Grants are available to home buyers?

A total of approximately1,600 grants are available. Each grant is $6,000. Only one grant can be used for the purchase of each home. Home Run Grants are distributed on a first-come, first-served basis to qualified home buyers. The approximate number of remaining grants will be posted on the UHC web page at www.utahhousingcorp.org.

How are Home Run applications submitted?

Home Run applications are submitted through a home buyer’s mortgage lender. Home buyer applications cannot be made directly to Utah Housing Corporation unless the Buyer is paying cash for the Home.

Is the Home Run Grant taxable?

The Home Run Grant may be taxable as income under federal and state tax laws. UHC has requested a ruling from the Internal Revenue Service (IRS) about whether or not a Home Run Grant will be taxable. UHC does not give tax advice and home buyers should review the ruling and other pertinent tax information in connection with the preparation of their 2009 tax returns.

If I have additional questions, who do I contact?

Contact an Approved Home Run Lender

What is your Credit Score?

Credit Score 700:
8 steps to a high credit score and new home


First-time home buyers, especially
young people, may have never seen their
credit score or even considered their
credit worthiness, but when they want to
buy a home, that changes.

These days, a credit score of 700 is
usually considered a good starting point
for a home loan. However, FHA
loans may be more lenient.

But the most important thing is to
start immediately to establish, build or
improve your credit.

Here is our One-Year plan for better
credit that works for everyone, not
just first-time homebuyers:

1** Go to annualcreditreport.com and
look over your free annual report from
each of the three credit reporting agencies.
Look for errors. Then immediately
take steps to correct them.

2** Pay your bills on time. You must
never be late even once.
One of the most common comments bill
collectors hear from young borrowers is:
I have the money, I just forgot to pay the
bill. Stop forgetting. You must establish
an ironclad history of paying your bills
on time.

3** Work on getting your credit balances
below 50 percent of your maximum
credit limit. That raises your score.
If you balances are below 30 percent, it
raises your score again.

4** If you don't have a credit card, look
into establishing a secured card. With a
secured card, you send the card company
a deposit and then they send you a credit
card. You can only use the card for the
amount on deposit. But when you get the
card, you should use it. Buy something,
and then make your payments perfectly.

5** Don't apply for a store account
every time the clerk says you can save 10
percent. Each time you fill out an application,
the company hits your credit report.
Inquiries like these count against
your credit. Don't make applications for
credit unless you actually need it.

6** If you have unused credit accounts,
don't close them if you are planning to
apply for a mortgage. That can actually
make your score drop.

7** During your credit improvement
year, don't buy a car. Lenders don't want
to see buyers committed to several large
credit accounts. Never finance a car before
you try to take a mortgage.

8** Plan to open three new credit accounts
during your credit improvement
year, even if they are secured accounts.
Be sure to space your new accounts by
three months. Use each account and pay
each off COMPLETELY every month.
This is the kind of credit management
that improves your
credit score AND
teaches you how to manage
credit.




Mitt Romneys Deer Valley Home For Sale...Only 10 million dollars any takers??

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