Study: Ogden Tops Utah for Housing Affordability

Northern Wasatch Association of RealtorsAdvice

If you’ve been struggling to find an affordable home, consider house-hunting in Northern Utah. Recently, the National Association of Home Builders (NAHB) named Ogden-Clearfield as Utah’s most affordable metro area for buying a home. The Ogden-Clearfield metro, which includes Box Elder, Davis, Morgan and Weber counties, also ranked fourth-best regionally and No. 37 nationally among more than 200 metro areas studied. Even with some price increases, nearly 84 percent of new and existing homes sold between October and December were affordable to families making the area income of $73,000. That’s according to NAHB’s fourth quarter 2016 Housing Opportunity Index. In Utah’s other metro areas, affordability isn’t quite as favorable but still outperforms the U.S. average. In Salt Lake, about 71 …

What will higher interest rates mean for home buyers?

Northern Wasatch Association of RealtorsAdvice

With the recent jump in mortgage rates, some would-be home buyers are wondering what the higher rates will mean for their purchasing prospects. Throughout 2016 rates on 30-year mortgages have remained under 4 percent or even 3.5 percent. In the remaining weeks of the year, however, rates on 30-year mortgages have steadily increased into the 4 percent range. With an improving economy, experts tell home buyers to expect above 4 percent to be the new normal. Inflation is on the rise and with it long-term interest rates are likely headed up. In fact, the Federal Reserve recently raised the all-important federal funds rate at its December meeting and likely will increase the rate several more times in 2017. While the …

Saving During the Holidays

Northern Wasatch Association of RealtorsAdvice

It’s that time of year again to start trimming your tree and your budget. Saving and spending wisely this holiday season you can avoid a total budget-buster. Trim your spending without sacrificing any holiday experiences with these quick tips. 1. Budget Budgeting for the holidays is always a smart idea. Start by establishing a general spending cap or allocating a specific amount to each person on your list. Be careful not to forget the little things or set a budget that is too tight. These two items can quickly cause your holiday budget to sour. After setting your budget, it’s important to stick to it. 2. Track your spending One of the most helpful ways to stick to your budget …

Why You Should Get PreQualified Before Searching For A Home

Northern Wasatch Association of RealtorsAdvice

Okay, so you’re ready and eager to buy your first home. Perhaps you’ve already begun to think about what area you want to live in, what features you want in your new home, and are excited to move to a new space. Now you’re ready to hire an agent to help you find your dream, but have you been pre-qualified? Not sure you need to be pre-approved before hunting for a home? Here are 4 reasons why getting pre-qualified is a smart move. Streamlines the house hunt. When you’re starting out, many homeowners make the mistake of browsing homes that are out of their price range. Don’t waste your time by looking at homes you’re not able to afford. By …

2 Things Never to Say as an Agent

Northern Wasatch Association of RealtorsAdvice

Working in the real estate industry, there have certainly been things we wish we hadn’t said. If you’re starting out in real estate, build a script of a few things to say when confronted with these 2 questions: First statement: Don’t say, I only check my messages during business hours, which, in a digital world, can turn a potential client away. People expect agents to be responsive and it is important you demonstrate to your clients that you’ll be there for them. However, set reasonable expectations to keep your sanity. What you should say instead, I’m here to answer all your questions. How would you  prefer to communicate? The best way to reach me is <email/text/call> between the hours of …