New loan limits help Northern Utah buyers

Northern Wasatch Association of Realtors Update

Christmas came early for house-hunters in Box Elder, Davis, Morgan and Weber counties when two federal agencies announced homebuyers in these areas will have greater access to mortgage loans. The first announcement came from the Federal Housing Finance Agency, which said it will raise the conforming loan limit 6.9 percent in 2019 from $453,100 to $484,350. This applies to all counties in Utah except Salt Lake, Summit and Tooele, which the government considers high-cost areas. Salt Lake and Tooele counties will have a limit of $600,300, and Summit will max out at $726,525. The new limits go into effect Jan. 1, 2019. This is an important change because conforming loans can be one of the most affordable mortgage types. Local …

2019 Real Estate Forecast

Northern Wasatch Association of Realtors Advice, Update

Even though real estate sales have slowed slightly in recent months, the housing market should remain healthy. That’s according to Lawrence Yun, chief economist of the National Association of Realtors, who presented his 2019 housing forecast earlier this month at the association’s annual conference. “2017 was the best year for home sales in 10 years, and 2018 is only down 1.5 percent year to date,” Yun said. “Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we’ve been experiencing over the past few years.” Although U.S. home sales will likely be down for 2018, Yun expects a slight rebound in 2019 with a 1 percent increase and more growth in …

Realtors Working to Educate Buyers and Sellers About Wire Fraud

Northern Wasatch Association of Realtors Advice

Imagine you’re a homebuyer who has just wired tens of thousands of dollars for the down payment on a home. You think everything is OK until the title company tells you they never received your money and you discover the wiring instructions you received were fraudulent. You’ve likely sent your down payment directly to a cybercriminal. Unfortunately, this is a situation more and more buyers find themselves in as hackers and scammers — often from outside the U.S. — attempt to steal money changing hands in a real estate sale. Here’s how it works. A scammer will hack into the email address of someone associated with the real estate transaction, e.g., the real estate agent or title representative. The scammer …

Northern Utah real estate places high on national rankings

Northern Wasatch Association of Realtors Advice

Anyone who’s bought or sold a home recently in Northern Utah knows the real estate market is hot. The market is so hot, in fact, that several national rankings list the Ogden-Clearfield metro area as one of the most active markets in the country. This includes Weber, Davis, Morgan and Box Elder counties. One example is a Realtor.com study that says the Ogden-Clearfield metro ranks No. 5 for the fastest-selling homes during July 2018. That’s out of 500 metro areas nationwide. The median time a local home stays on the market is 31 days. The only markets to have faster real estate transactions were San Jose-Sunnyvale-Santa Clara, Calif. at 26 days; Midland, Texas at 29 days; San Francisco-Oakland-Hayward, Calif. at …

The 7th Annual Food For Funds – Food and Clothing Drive

Tiffany bigelow event

Northern Wasatch Association of REALTORS 7th Annual Food For Funds ~ Food and Clothing Drive Food and Clothing Drive September 14th to November 7th Main Event – Breakfast, Unloading & PR – November 8th at 7am – The Lantern House in Ogden There’s Nothing More Rewarding than Giving Back and Making a Difference in the Lives of the People in this Great Community. We as REALTORS have a special way of communicating with people, that’s what we are best at. We know how to reach out to those in need and we find great joy in doing so. It isn’t for the win, it isn’t for the notoriety, it is really about that one special moment of knowing you, your team and your community rolled up …