Everything's on sale!!!

Housing Affordability Soars to Record High

DAILY REAL ESTATE NEWS | WEDNESDAY, MARCH 07, 2012

 

Low mortgage rates and falling home values have brought housing within reach to more families than ever before, according to the latest National Association of REALTORS® (NAR) housing affordability index.

 

Housing affordability in January reached its highest level since NAR began tracking it in 1970. The index — which tracks median home price, median family income, and the average mortgage rate — reached 206.1 in January.

 

“This is the first time the housing affordability index has broken the 200 mark, meaning the typical family has roughly double the income needed to purchase a median-priced home,” says Moe Veissi, 2012 NAR president. “For buyers who can qualify for a mortgage, now is a very good time to become a home owner.”

 

An index of 100 means that a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, also accounting for a 20 percent down payment and 25 percent of gross income devoted to the mortgage principle and interest payments.

 

NAR projects that affordability will remain high for the remainder of the year.

 

“Housing inventory levels have declined to a point where conditions are becoming much more balanced in much of the country,” Veissi said. “If access to credit improves, we could see a much more meaningful increase in home sales and broader stabilization in home prices with modest gains in areas with stronger job growth.”

Source: National Association of REALTORS®                    

There are amazing opportunities in the housing market

to make your dreams come true!!!

CALL TIGER LADIES TODAY!! LET US HELP YOU!!!!!

 

Just some Easter activities to add to your calendars

We got an email this morning from www.utahkidsclub.com outlining some great Easter activities in our communities. If you know of any others, let us know - we'll be sure and share the info.

Join us for our 5th annual Egg Dive! March 31, 2012 Bring your swimsuits and goggles and get ready for a different type of egg hunt! Plastic eggs are tossed in to our Leisure pool and each age division has a certain amount of time to gather all the eggs you can! Prizes and games for all participants! We have two different sessions starting at 9:00am and 10:40. Cost: $5 per participant per session Register now at South Davis Rec Center, 801-298-6220

Egg-cellent Adventure: Birds not Bunnies Egg Hunt All Ages Welcome! Are you ready for a unique Easter egg hunt? Join the Ogden Nature Center's teacher/naturalists on a true egg hunt challenge. Locate and record your finds from each nest to win a prize. Make and take crafts and bird stuff to explore. Please RSVP by 5pm on Friday, March 30th. Cost: $3/members, $5/non-members. Contact: 801-621-7595. Saturday, March 31, 2012, 10:00 AM - 12:00 PM. Ogden Nature Center 966 W. 12th Street Ogden, Ut 84404. For more info visit ogdennaturecenter.org.

 

Hop on over to the Farmington Recreation Center to join us for some spring-time holiday fun! During this free family event, we will have all sorts of games and activities - plus a special visit from the Funny Bunny! For more information, call (505) 599-1184 

Easter on Main Street Parade

April 06, 2012Bring your Easter basket and your Easter Bonnet and join us on Main Street, Lehi on Friday, April 6, 2012 for the Easter Parade. Fun games for kids, treats, and an Easter Bonnet Contest. 

 

Free kids Easter Egg Hunt 

Bring your little bunny (age 0-12 years) to the annual Cottonwood Heights City Kids Easter Egg Hunt April 7, 2012, at Butler Park west fields (2700 E. 7500 S.) beginning at 9am. There will be over 13,000 eggs, and the Easter Bunny will be there. Bring your own basket, and come early to find the field for your child's age group-- parking is limited. In the event of inclement weather, eggs will be passed out in a drive-thru at CHRC.

 

Annual SLC Easter Egg Hunt will be held on Saturday, April 7th, 9 AM SHARP. 1255 Clark Avenue (300 North), SLC UT 84116 * 385 468-1305 

 

April 7th at 9am Sharp at Sorenson Multicultural Center 855 West California Avenue (1300 S), SLC UT 84104 * 385 468 1300 Free Candy Prizes and toys! Sorenson Center Backfield 

 

Orem Fitness Center / MVHS Football Field: Bring your whole family on Saturday, April 7th for a fun Easter Egg Hunt! This event will be held at the Mountain View High School Football stadium and is for kids ages 0-11. The hunt will start at 9:00AM Sharp! 

 

FREE Egg Hunt: Spanish Fork his event will be held today at 9:00 a.m. at the Spanish Fork Sports Park West Complex at 493 West Volunteer Drive. Event is sponsored by the Spanish Fork Chamber of Commerce. Check their website atwww.spanishforkchamber.com 

 

Murray Egg Dive: Murray City will have its Annual Easter Egg Splash at the Park Center Enjoy open plunge swimming after the event. Date: Saturday, April 7, 2012The Park Center Leisure Pool, 202 E. Murray Park Avenue. Cost: $1.00 for Non-Park Center Members. Tickets: Available Friday, April 6, 2012 at The Park Center, Number of participants is limited, please get your tickets in advance!

 

Wheeler Farm Egg Hunt: Children's Hunt - PRE-REGISTRATION ONLY! $10 per child (up to age 10) includes the hunt, a t-shirt, taffy bag, visit with the Easter Bunny and wagon ride for up to 4 people. All children receive the same amount of goodies! Saturday, April 7, 2012 Hunt times available: 9:30, 10:30 Check-in begins at 30 minutes prior to your hunt start time. Registration Deadline: Friday, March 30, 5pm. $10.00 registration taken at Wheeler Historic Farm Activity Barn Monday-Saturday 9am to 5pm, or online PRE-REGISTRATION ONLY!! Questions: 801-264-224   

 

Easter Egg Hunt & Cookie Decorating, American Fork: Join us at 9:30 a.m. on Saturday, April 7th at Heritage Park. Mark your calendars on April 7th for the annual Children's Easter Egg Hunt & Cookie Decorating! Come join the Youth City Council at 9:30 AM at Heritage Park for the Easter Egg Hunt. Then come to the pavilion to decorate cookies with the Highland Arts Council. It's going to be so much fun! Come prepared for the weather and bring your Easter Baskets.

 

FREE Children's Easter Egg Hunt, Riverton - Meet the Easter Bunny and hunt for candy, toy and cash filled eggs. Dress warm & don't forget your Easter Basket.The Easter Bunny will be there at 9:00 am. Date: Saturday, April 7, 2012 Time: Hunt starts at 10:00 am sharp! The Easter Bunny will be there at 9:00 am. Location: Riverton City Park, northeast lawn area, 12800 S 1400 W, *Please park in the parking lots located on 1400 W 12700 S

 

South Jordan FREE EAster Egg Hunt and Candy Scramble, 10am sharp.City Park--11010 south Redwood Rd. Bring your basket and camera

 

FREE Egg Hunt, Herriman 12 and Under, at W&M Butterfield park--6212 West 14200 South Herriman. Hunting in following age groups: 0-2, 3-4, 5-6, 7-9, 10-12 Bring your basket and listen for the Fire Engine Signal!

 

Clearfield Community Services and the American Legion Post No. 134 and Auxiliary sponsor the annual Easter Egg Hunt. Five separate hunting areas are designated according to age: 2 and under, 3-5, 6-8, 9-10, and special needs. Parents will only be allowed to help their children in the 2 and under and special needs groups. Children finding special prize eggs may turn them in for prizes donated by local merchants. For health and safety reasons, all eggs are plastic with pre-wrapped candy inside.Fisher Park, 10am

 

Easter Brunch at Harvest Restaurant at Thanksgiving Point Treat your family to a special Easter celebration at Harvest Restaurant. Enjoy a selection of your traditional favorites prepared in creative and delicious ways and choose from tasty dishes sure to become your new favorites. Saturday, April 7, 2012. 10 am - 2 pm $28.95/adults. $14.95/children (ages 11 and under) *Please call 801.768.4990 for reservations.

 

5th Annual Easter Egg Dive Event: Saturday - April 7, 2012 starting at 11:00 am Come visit the Easter Bunny at Fairmont Aquatic !!! Cost is $4.00 per child and includes open plunge.

Easter Eggstreme: Gather the kids and come hunt for festive Easter eggs as they are scattered throughout Electric Park but that's not all there is to do. Enjoy games, activities, pony rides and much more this Easter at Thanksgiving Point. April 7, 2012. 10 am - 3 pm EGG HUNT TIMES for different age groups. Check it all out at www.thanksgivingpoint.org 

 

Easter In Lehi Celebration: The Easter Egg hunt sponsored by the Lehi Area Chamber of Commerce is a city-wide family event. The Lehi Area Chamber of Commerce invites all families with children eager for Easter to play games, eat pizza, and go on an Easter egg hunt in the pool! All activities take place at the Legacy Center. Tickets can be purchased at the Legacy Center. For more information go to www.lehiareachamber.org.

 

Egg Dive at Layton Surf and Swim: 5.00 April 7, pre register at layton surf and swim

 

The Easter Rendezvous event marks the opening of the season for Fort Buenaventura! (2450 A Ave) Come join the fun April 7 and 8 for a re-creation of the fur trade era gatherings of trappers and Native Americans. Events on Saturday, April 7, from 8:00am to 6:00pm include a dutch oven contest, rifle shoot, kids' games, frying pan toss, and much more! Events on Sunday, April 8, from 10:00am to 1:00pm include a shotgun shoot and kids' and adult canoe races. Vendors will sell food and drinks so bring the whole family for a day of fun and good food!Cost is $2 per person. For more information, call 801-399-8491 or 801-399-8099.

Featured Home of the Month -Clearfield, Utah

Check out this month's featured home - it is a beauty!!

· Gorgeous one owner rambler with main floor living

· Breathtaking kitchen with skyline style cabinets, pull-out drawers, tile backsplash, granite counters, bar, and semi-formal dining  

· Greatroom with fireplace, vaults, and bright open colors

· Large master bedroom with walk-in closet and master bath with separate tub/shower

· Plantation shutters throughout main floor and blinds in basement

· 50 gallon water heater, and furnace with humidifier

· Completely finished garage, oversized patio and gazebo to shade patio  furniture for comfortable entertaining

· Automatic Sprinklers

· Security system

· Basement insulated and framed for 2 additional bedrooms, large family room, and additional bath

· Squeaky clean move-in condition!!!!

 

 

 

Check out the spotlight business this month - West Haven, Utah

This is a great new find for all of us crafty and not so crafty people!! 

 

They have an amazing selection of unfinished wood projects for every season and holiday, and if they don’t have it, you can special order just about anything you might need. Plus, if you are unsure of how to put the craft together, they offer classes. 

Located @ 2420 South 1900 West in West Haven, UT

Check them out for some amazing Easter crafts (including the one shown below)!!!!

For a 25% off coupon, check out page 10 of your Hometown Values magazine or go to www.hometownvalues.net

 

 

 

AND FOR DESSERT...

Patrick's Chocolate & Mint Cheesecake Bars

Rated: Submitted By: mis7up Photo By: mis7up Prep Time: 20 Minutes Cook Time: 55 Minutes Ready In: 3 Hours 15 Minutes Servings: 24

"This mint flavored cheesecake filling is sandwiched between a rich chocolate crust and a layer of chocolate and mint chips. They are sure to please the whole family."

INGREDIENTS:

1 (18.25 ounce) package chocolate fudge cake mix with pudding (such as Betty Crocker® Triple Chocolate Fudge cake mix) 1/2 cup butter, softened 3 (8 ounce) packages cream cheese, softened 1 (16 ounce) container cream cheese flavored frosting (such as Betty Crocker

® Rich and Creamy) 3 eggs 6 drops green food coloring, or as needed 3 drops creme de menthe candy flavoring (such as Wilton®), or as needed 1 (10 ounce) package dark chocolate and mint chips (such as Nestle® Toll House ® Dark Chocolate and Mint Morsels)

DIRECTIONS:

1.	Preheat oven to 325 degrees F (165 degrees C).
2.	Beat cake mix and butter with an electric mixer on low speed in a bowl until crumbly, 3 to 5 minutes. Set aside 1 cup for topping.
3.	Press remaining crumb mixture into bottom of an ungreased 9x13 inch pan.
4.	Place in preheated oven and bake until edges begin to crisp, about 10 minutes. Remove from the oven and cool slightly.
5.	Beat cream cheese and frosting with an electric mixer on medium speed in a bowl until smooth, 3 to 5 minutes.
6.	Drop eggs one at a time into the cream cheese mixture and beat until blended, 2 to 3 minutes.
7.	Pour in 6 drops green food coloring, or more for a darker color; beat until color is blended, about 2 minutes.
8.	Beat in creme de menthe candy flavoring until thoroughly blended, about 2 minutes. Taste and add more flavoring if needed.
9.	Pour batter over the chocolate crust in the 9x13 pan.
10.	Sprinkle 1 cup reserved crumb mixture over cheesecake batter.
11.	Top with 1 cup chocolate and mint morsels; reserve remaining morsels for finishing touches.
12.	Place the pan in the preheated oven and bake until set, 42 to 45 minutes.
13.	Remove pan from oven and cool completely. 14. Cover and refrigerate until chilled, at least 2 hours. 15. Pour reserved chocolate and mint morsels into a small microwave-safe bowl. Microwave morsels in 45 second intervals; stir until completely melted and smooth. 16. Pour melted chocolate into a resealable plastic bag. 17. Clip a small bottom corner of the bag. Gently squeezing the bag, drizzle melted chocolate over the cooled cake through the clipped corner. 18. Cut cake into bars to serve. ALL RIGHTS RESERVED © 2012 Allrecipes.com Printed from Allrecipes.com 3/16/2012

HAPPY ST. PATRICK'S DAY!! Try these morsels!!

Slow Cooker Corned Beef and Cabbage

Rated: Submitted By: LUSYRSGIRL Photo By: JACSMI Prep Time: 15 Minutes Cook Time: 9 Hours Ready In: 9 Hours 15 Minutes Servings: 8

"Slow cook your St. Patrick's Day corned beef dinner, and celebrate the easy way."

INGREDIENTS:

4 large carrots, peeled and cut into matchstick pieces 10 baby red potatoes, quartered 1 onion, peeled and cut into bite-sized pieces

4 cups water 1 (4 pound) corned beef brisket with spice packet 6 ounces beer 1/2 head cabbage, coarsely chopped

DIRECTIONS:

1.	Place the carrots, potatoes, and onion into the bottom of a slow cooker, pour in the water, and place the brisket on top of the vegetables. Pour the beer over the brisket. Sprinkle on the spices from the packet, cover, and set the cooker on High.
2.	Cook the brisket for about 8 hours. An hour before serving, stir in the cabbage and cook for 1 more hour.

ALL RIGHTS RESERVED © 2012 Allrecipes.com

Printed from Allrecipes.com 3/16/2012

GREAT NEWS!!

Ban on Private Transfer Fee a Big Win for Buyers

DAILY REAL ESTATE NEWS | FRIDAY, MARCH 16, 2012

Efforts by NAR and others to curtail private transfer fees got a big boost yesterday with publication of a final rule by the Federal Housing Finance Agency (FHFA) prohibiting the fees on mortgages handled by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. FHA already bans the fees.

The fees are encumbrances placed on mortgages by the property developer to generate fees every time the property is sold. The fees range in amounts, but in some cases they’re as high as 1 percent of the mortgage amount and are often in effect for as long as 99 years.

Traditionally, the fees are used to cover expenses related to property improvements such as a community center, which is available as a benefit to all the property owners in a development. In recent years, however, there have been efforts to impose the fees for the sole purpose of generating income to the developers — and in some cases, investors — through the creation of securities collateralized by the fee income, without reinvestment of the proceeds into the property.

NAR several years ago launched a program to assist state associations of REALTORS® to fight the fees. Today, almost 40 states ban them. Yesterday’s FHFA rule, in conjunction with the ban by FHA, builds on these state bans by ensuring the fees aren’t imposed on any loans with government involvement in all 50 states.

“NAR has long been vocal in its opposition to private transfer fees,” NAR President Moe Veissi said in a statement yesterday. “There is virtually no oversight on where or how fee proceeds can be spent, how long a private transfer fee may be imposed, or how the fees should be disclosed to home buyers — and this often places an inappropriate drag on the transfer of property.”

The FHFA ban doesn’t apply to the traditional uses of the fees, in which the proceeds are reinvested in the property for the benefit of owners, or go to tax-exempt organizations or home owners associations or cooperatives. The ban kicks in for covenants created on or after Feb. 8, 2011, the date FHFA published its proposed rule on the ban. Covenants created before that date are grandfathered in, so the fees would be allowed. There are some other exemptions to the ban.

GOOD SHORT SALE & TAX INFO

What You Need to Know about Cancellation of Mortgage Debt

Posted By susanne On March 11, 2012 @ 1:07 pm In Consumer News and Advice,Home Owner News,Real Estate Information,Today's Top Story,Today's Top Story - Consumer |No Comments

 ^[1]This column is brought to you by the NAR Real Estate Services group.

A lender will, on occasion, forgive some portion of a borrower’s debt. The general tax rule that applies to any debt forgiveness is that the amount forgiven is treated as taxable income to the borrower. Some exceptions to this rule are available, but, until recently, the borrower was required to pay tax on the debt forgiven. A new law enacted in December 2007 provides relief to troubled borrowers when some portion of mortgage debt is forgiven. However, this relief expires on December 31, 2012 and NAR will be working to obtain an extension throughout the year.

Below is some general information you need to know about this law and cancellation of mortgage debt.

General Rule for Debt Forgiveness
If a lender forgives some or all of an individual’s debts, the general rule is that the forgiven amount is treated as ordinary income and the borrower must pay tax on the forgiven amount. Exceptions apply for bankruptcy, insolvency and certain other situations, including mortgage debt.

Current Law for Mortgage Debt
(Jan. 1, 2007 through Dec. 31, 2012): A borrower can be excused from paying tax on forgiven mortgage debt. The debt must be secured by a principal residence and the total amount of the outstanding obligation may not exceed the original mortgage amount plus the cost of any improvements.

Does the relief apply only to a sale?
No. The provision has broader application. Lenders might forgive some portion of mortgage debt in a short sale (when value at sale is less than the amount owed) or in a foreclosure where the debt is wiped out. In addition, if a borrower still living in the home is able to make an arrangement with a lender that reduces the principal balance of a mortgage, the amount forgiven in that workout will not be taxed.

Can the homeowners in a short sale or foreclosure claim a loss?
No. The loss is considered a personal loss and is, therefore, ineligible for either capital loss or ordinary loss treatment.

What happens to the seller when mortgage debt is forgiven?
Until January 1, 2013, the homeowner will pay no tax on any forgiven amount.

Does this provision apply to a refinanced mortgage?
Only in limited circumstances. The relief provision can apply to either an original or a refinanced mortgage. If the mortgage has been refinanced at any time, the relief is available only up to the amount of the original debt (plus the cost of any improvements). Tax relief is generally not available for second mortgages or home-equity lines of credit where the funds are not used for home improvement. Any amount that is not eligible for the relief provision will be taxed as ordinary income.

How does the homeowner get the correct information to the IRS?
The lender is required to provide the homeowner and the IRS with a Form 1099 reflecting the amount of the forgiven debt. The borrower/homeowner must file a Form 982 to reflect the amount forgiven and to show the reason why the forgiven amount is not taxable. Any taxable portion of forgiven debt will then be reported on the homeowner’s Form 1040 for the tax year in which the debt was forgiven.

What if a property declines in value but the owner stays in the house?
The provision would not apply. The provision applies only at the time of sale or other disposition or when there is a workout (reduction of existing debt) with the lender.

Do all lenders forgive mortgage debt when property values decline or the home is in foreclosure?
No. Some states have laws that allow a lender to require a repayment arrangement, particularly if the borrower has other assets. Forgiveness of debt is always at the lender’s discretion.

Linda Goold is the Tax Counsel for National Association of REALTORS®.

Owning a home matters!

What Do Americans Want Most Once Finances Improve?

DAILY REAL ESTATE NEWS | FRIDAY, MARCH 09, 2012

Fifty-one percent of Americans in a recent poll say that if their financial situation were to improve, they’d buy a home. Coming in second on the list of wishes, they’d make repairs or improvements to the home they already have, according to the poll of more than 1,400 Americans conducted by the National Foundation for Credit Counseling Web site, www.DebtAdvice.org.

Meanwhile, 17 percent of Americans polled said they’d upgrade their car and 9 percent said they’d take a vacation. 

"Home ownership has traditionally been a part of sound financial planning," says Gail Cunningham, spokesperson for the NFCC, a nonprofit credit counseling organization. "With a combined total of 74 percent of respondents selecting a home-oriented option, the poll results strongly suggests that people continue to place value in owning a home, and are anxious to buy a house or improve their existing one." 

By Melissa Dittmann Tracey for REALTOR Magazine Daily News

YES WE ARE OPTIMISTIC!!! IT'S ABOUT TIME!

Americans More Optimistic About Housing, Economy

DAILY REAL ESTATE NEWS | THURSDAY, MARCH 08, 2012

Americans’ concerns over housing and the economy are subsiding, according to Fannie Mae’s National Housing Survey from February. 

An improving job market is a big part of what’s behind Americans feeling more confident about the housing market and the direction of the economy, according to the survey. 

“The pickup in the pace of hiring over the past few months has helped soothe consumer concerns, lifting their moods regarding their personal finances, the direction of the economy, and their views on the housing market,” says Doug Duncan, chief economist of Fannie Mae. “As a result, we’ve seen more potential for economic upside, creating a more balanced near-term outlook.”

The survey found that 28 percent of Americans expect home prices to increase over the next 12 months while 53 percent say prices will likely stay the same. Fifteen percent say they expect home prices to decline. 

Meanwhile, the majority of those surveyed see rental prices continuing to increase over the next year. 

Sixty-five percent of those surveyed say that if they were going to move they’d buy their next home; 29 percent say they would rent. 

With low mortgage rates and falling home prices, 70 percent of those surveyed say now is a good time to purchase a home. Also, more Americans surveyed say now is a good time to sell, rising to 13 percent in February, which is the highest level in more than a year but still low by historic standards. 

Overall, Americans expressed more confidence about their personal financial situation, with only 12 percent saying they expected their personal financial situation to worsen in the next 12 months — which is the lowest number in more than a year. 

Source: Fannie Mae 

Better than foreclosed price

This is an amazing home with an even more amazing price - $93,900!! Can you believe it???

 

Check out the tour:

 

http://www.tourfactory.com/772123

 

LOOKING TO BUY? BE SURE TO CHECK OUT THIS ONE!!

FOR a tour, visit www.tigerladies.com

INCREDIBLE BARGAIN!!

Adams_tour.avi Watch on Posterous

FROM THE MOUTH OF THE GURU!!!

Buffett: 'I'd Buy Up a Couple Hundred Thousand' Homes

DAILY REAL ESTATE NEWS | WEDNESDAY, FEBRUARY 29, 2012

Warren Buffett, the billionaire investor and Berkshire Hathaway CEO, said on CNBC's "Squawk Box" recently that he'd "buy up a couple hundred thousand" single-family homes if it was practical. 

Buffett said that's because he believes purchasing a home with ultra-low mortgage rates and holding it for the long-term has become a better investment than stocks right now. 

"Housing will come back, you can be sure of that," Buffett wrote in his annual letter to shareholders recently. 

Buffett forecasts an increase in household formations, as more people who moved in with their parents or family members during the recession look to move out and get their own home soon. 

"People may postpone hitching up during uncertain times, but eventually hormones take over. And while 'doubling-up" may be the initial reaction of some during a recession, living with in-laws can quickly lose its allure," Buffett said.

Buffett said the recovery in the housing market could vary quite a bit among local housing markets, however. He did not provide a timeline of when he expected a full housing recovery, admitting that his prediction last year that a housing recovery will take shape within the year turned out to be "dead wrong." 

Source: "Housing Market Forecast Beyond 2012 From Warren Buffet," International Business Times (Feb. 28, 2012) and "Warren Buffet on CNBC: I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes If I Could," CNBC (Feb. 27, 2012)