We have moved our corporate office to a new location:
Equity Real Estate - Professionals
7090 South Union Park Blvd, Suite 650
Midvale, Utah 84047
**NEW** Direct Phone # 801-326-0779
Fax: 1-888-315-3401
Wednesday, May 4, 2011
Randy Cochrane **NEW BUSINESS ADDRESS & PHONE NUMBER**
We have moved our corporate office to a new location:
Equity Real Estate - Professionals
7090 South Union Park Blvd, Suite 650
Midvale, Utah 84047
**NEW** Direct Phone # 801-326-0779
Fax: 1-888-315-3401
Friday, December 18, 2009
Has the Utah Housing Market Stabilized?
Has the Utah Housing Market Stabilized?
Find out if the market has stabilized in your neighborhood.
Get a NO COST, customized report emailed to your inbox by Clicking Here.
Find out if the market has stabilized in your neighborhood.
Get a NO COST, customized report emailed to your inbox by Clicking Here.
Wednesday, December 9, 2009
Randy Cochrane Earns SFR Designation from the National Association of REALTORS
Randy Cochrane with the Advantage Team has just received a new designation, the SFR (Short Sales and Foreclosure Resource) Designation. Mr. Cochrane has completed live classes and online training to bring ZOOM! Loss Mitigation's clients the highest level of service with short sales and foreclosures.
The National Association of REALTORS offers the SFR certification to REALTORS who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.
REALTORS who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.In this market, Mr. Cochrane felt it was very important to be as knowledgeable as possible to help not only sellers in troubled times, but buyers as well. There are many aspects of a transaction that change depending upon the situation of the seller.
The National Association of REALTORS offers the SFR certification to REALTORS who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures.
REALTORS who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.In this market, Mr. Cochrane felt it was very important to be as knowledgeable as possible to help not only sellers in troubled times, but buyers as well. There are many aspects of a transaction that change depending upon the situation of the seller.
Wednesday, November 25, 2009
Top 5 Facts You Need to Know about the Expanded Home Buyers Tax Credit
On November 6, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 into law, extending and expanding the important home buyer tax credit, and thereby providing many Americans with just the break they need to buy a first home or move up to a new home.
Our goal is to continually provide our clients with critical up-to-date real estate information so they can make the best possible decision when buying or selling a home.
Below are some key facts about the extended and expanded tax credit that are critical for buyers to understand in order to take advantage of this opportunity:
1. Eligibility: The tax credit is now available for first-time home buyers and eligible current homeowners. A first-time home buyer is an individual who has not owned a principal residence during the three-year period prior to the purchase. This law applies for both parties in a married couple; if you haven’t owned a home for three years, but your husband has, then neither one of you can qualify for the tax credit. A qualified current homeowner who wished to move to a different home, must have owned and resided in their residence for five consecutive years out of the last eight.
2. Salary requirements: Single taxpayers with incomes up to $125,000 and married couples with a joint income up to $225,000 qualify for the full tax credit. Single taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
3. Amount of credit: The maximum credit amount for first-time home buyers is $8,000; the maximum credit amount for current homeowners is $6,500. The federal tax credit amounts to 10% of the cost of the home, up to a maximum credit of $8,000 for first-time home buyers and $6,500 for current homeowners. Under the new legislation, a tax credit may only be issued for homes purchased for $800,000 or less. The tax credit is a true credit—it does not have to be repaid unless the homeowner sells or stops using the home as their principal residence within three years after the purchase.
4. It’s refundable: The tax credit is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if you owe no tax or the credit is more than the tax owed. The credit is claimed using Form 5405, which you file with your original or amended tax return.
5. Timeline: The credit is available for homes purchased on or after November 7, 2009 and before May 1, 2010. The federal income credit can be claimed on one’s individual or joint tax return for the purchase of any single-family home (newly-constructed or resale, single-family detached, townhomes or condominiums) between the dates of November 7, 2009 and April 30, 2010. Home purchases subject to a binding sales contract signed before May 1, 2010 will also qualify for the tax credit as long as closing occurs by June 30, 2010.
For more information on the home buyer tax credit, e-mail us or visit www.irs.gov.
Our goal is to continually provide our clients with critical up-to-date real estate information so they can make the best possible decision when buying or selling a home.
Below are some key facts about the extended and expanded tax credit that are critical for buyers to understand in order to take advantage of this opportunity:
1. Eligibility: The tax credit is now available for first-time home buyers and eligible current homeowners. A first-time home buyer is an individual who has not owned a principal residence during the three-year period prior to the purchase. This law applies for both parties in a married couple; if you haven’t owned a home for three years, but your husband has, then neither one of you can qualify for the tax credit. A qualified current homeowner who wished to move to a different home, must have owned and resided in their residence for five consecutive years out of the last eight.
2. Salary requirements: Single taxpayers with incomes up to $125,000 and married couples with a joint income up to $225,000 qualify for the full tax credit. Single taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
3. Amount of credit: The maximum credit amount for first-time home buyers is $8,000; the maximum credit amount for current homeowners is $6,500. The federal tax credit amounts to 10% of the cost of the home, up to a maximum credit of $8,000 for first-time home buyers and $6,500 for current homeowners. Under the new legislation, a tax credit may only be issued for homes purchased for $800,000 or less. The tax credit is a true credit—it does not have to be repaid unless the homeowner sells or stops using the home as their principal residence within three years after the purchase.
4. It’s refundable: The tax credit is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if you owe no tax or the credit is more than the tax owed. The credit is claimed using Form 5405, which you file with your original or amended tax return.
5. Timeline: The credit is available for homes purchased on or after November 7, 2009 and before May 1, 2010. The federal income credit can be claimed on one’s individual or joint tax return for the purchase of any single-family home (newly-constructed or resale, single-family detached, townhomes or condominiums) between the dates of November 7, 2009 and April 30, 2010. Home purchases subject to a binding sales contract signed before May 1, 2010 will also qualify for the tax credit as long as closing occurs by June 30, 2010.
For more information on the home buyer tax credit, e-mail us or visit www.irs.gov.
11 Reasons to List Your Home During the Holidays
1. People who look for a home during the Holidays are more serious buyers!
2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!
3. Since the supply of listings will dramatically increase in January, there
will be less demand for your particular home! Less demand means less money for you!
4. Houses show better when decorated for the Holidays!
5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!
6. Buyers have more time to look for a home during the Holidays than they do during a working week!
7. Some people must buy before the end of the year for tax reasons!
8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!
9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!
11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!
2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!
3. Since the supply of listings will dramatically increase in January, there
will be less demand for your particular home! Less demand means less money for you!
4. Houses show better when decorated for the Holidays!
5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!
6. Buyers have more time to look for a home during the Holidays than they do during a working week!
7. Some people must buy before the end of the year for tax reasons!
8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!
9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!
11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!
Sunday, April 12, 2009
New Address and Phone Number
We've moved our corporate office to:
7070 South 2300 East, Suite 110
Salt Lake City, Utah 84121
Toll-Free: 1-800-480-1917
Direct: 801-527-2011
Fax: 801-892-2203
E-Mail: info@AdvantageTeam.com
Website: www.AdvantageTeam.com
7070 South 2300 East, Suite 110
Salt Lake City, Utah 84121
Toll-Free: 1-800-480-1917
Direct: 801-527-2011
Fax: 801-892-2203
E-Mail: info@AdvantageTeam.com
Website: www.AdvantageTeam.com
Friday, March 20, 2009
$6000 Utah Housing Grant Now Available
ONLY 1600 Grants Remaining!!!
$6,000 HOME PURCHASE GRANT Administered by Utah Housing Corporation
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.
-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.
-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
* 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.
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.
Please contact us for additional information http://www.advantageteam.com/
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