How to Buy a House with your Tax Refund

Is your goal this year to buy a new home? 

A benefit to buying in the beginning part of the year could be using your tax refund toward the purchase of a new home. It can make the unaffordable, affordable. You may actually be able to qualify for a larger home and lower your monthly payment by applying larger down payment.

The larger the down payment is, the more interest you will save on the loan over time. If you have done any research into what the average home price was selling for in your area, I think you would be surprised at how low the monthly payments would actually be.

Many people think it requires a 20% down payment to buy a home, however there are mortgage companies who offer mortgages with little to no down payment. Some conventional mortgages require only 5% down payment. An FHA loan requires only a 3.5% down payment. In each instance, the down payment can even be gifted to you from a family member and also allow for seller paid closing costs.

If you were to receive a $5,500 refund on your income tax return, it would allow you to buy a home with a sales price of $110,000 with a conventional 95% mortgage.

If you were to receive a $3,500 refund on your income tax returns, it would allow you to buy a home with a sales price of $100,000 with a FHA mortgage. FHA home loans also offer flexible qualification terms with low credit scores.

Both options may allow you to buy a home for less than you pay in rent and help build your own personal wealth... something renters cannot do!

THIS IS YOUR YEAR!!

 

Call me today and we'll start looking for your new home!

Julie Larson 801-755-8899

 

 

Julie Larson

callteamlarson@gmail.com

801-755-8899

RealtyPath Success

 

How to Change a Faucet

You can save a great deal of money and spiff up your kitchen's appearance by installing a new faucet yourself. Home improvement stores offer hands-on demos, check with your local store.

 

If you're doing it for the first time, one of the biggest pieces of advice is to do it during OPEN home improvement store hours, not in the middle of the night when you can't run out for more parts!



Here is a link for those who like step-by-step instructions.

Step-By-Step Written Instructions

And here's a link for those who are visual.

YouTube Video Instruction

Our team's home improvement expert can also give you tips. Give us a call if you have any questions!



T.G. Larson
801-755-0446

Julie Larson
Realtor Utah
801-755-8899

Search for Homes Here
 

We Have Moved!!

Team Larson has a new home with

 

Located at 7985 S 700 E in Sandy, UT

 

 

We would like to thank everyone at Keller Williams South Valley Realty for the years of training, support and friendships! We look forward to continued friendships and transactions in the future!

 

Julie, TG & Chris

 

 

Julie Larson
Realtor Utah
801-755-8899

Search for Homes Here

callteamlarson@gmail.com

Utah State University grad among 3 U.S. economists who win Nobel in economics

"Three American professors — including one who is a Utah State University alumnus — won the Nobel prize for economics Monday for shedding light on how stock, bond and house prices move over time— work that’s changed how people around the world invest."

Read the entire article at The Salt Lake Tribune.


Julie Larson
801-755-8899
Search for Homes Here
callteamlarson@gmail.com
Free Consultation ~ No Obligation

@Home Realty Network
Sandy, UT

Bank of America: Monday’s Mortgage Rates Oct 14 2013

"The best 30 year loan interest rates are coming out at 4.375% at Bank of America today yielding an APR of 4.466%. In the ARM arena, 5 year loans have been published at 3.125%† at Bank of America with an APR of 3.063% to start."

 

Read more at The Eagle's Rant

 

 

Call me with questions or if you'd like to discuss your unique situation.

 

Julie Larson
801-755-8899
Search for Homes Here
callteamlarson@gmail.com
Free Consultation ~ No Obligation

@Home Realty Network
Sandy, UT

America First Creates 0% Interest Furlough Assistance Loan for Federal Workers

"America First Credit Union is easing the burden of federal government employees affected by the shutdown, by introducing a special Furlough Assistance Loan. The personal loan of up to $3,000 will be made available to federal employees who have been furloughed due to the recent government shutdown."

Read more: KCSG Television  




Julie Larson
801-755-8899
Search for Homes Here
callteamlarson@gmail.com
Free Consultation ~ No Obligation

@Home Realty Network
Sandy, UT

Mortgage Interest Rates Edge Up at Wells Fargo Friday Oct 11 2013

 

"30 year fixed rate loan interest rates are being offered for 4.500% at Wells Fargo carrying an APR of 4.864%.  The best 30 year FHA fixed rate loans are on the books at 4.125% at the bank yielding a bit higher APR than the conventional loan of 5.285%.  15 year fixed rate mortgage interest rates at the bank can be had for 3.500% yielding an APR of 3.999% today." 

 

Read the full story on Finance Daily

Call me with questions or if you'd like to discuss your unique situation.

 

Julie Larson
801-755-8899
Search for Homes Here
callteamlarson@gmail.com
Free Consultation ~ No Obligation

@Home Realty Network
Sandy, UT

Kearns Home For Sale

 

$145,000

5957 W Jargon Cir, Kearns UT 84118

 

Short Sale PRICE APPROVED! The work has already been done with the bank, we just NEED AN OFFER!

 

3 Bedrooms

2 Bathrooms

1580 sq. ft.

0.17 Acres

2 Car Garage

 

Granite School District

Thomas W Bacchus Elementary

Thomas Jefferson Junior High

Kearns High School

 

View Photo Tour Here

 

Please call in advance to schedule a walk-through

 

Property is listed on the Wasatch Front Regional MLS with

Julie Larson

801-755-8899

Keller Williams South Valley Realty

MLS# 1140140

Provo Utah Townhome For Sale

 

 

Listed on Friday; Under Contract on Monday

(If you were debating whether it was a good time to list your home, it is)

 

GORGEOUS PROVO TOWNHOUSE 

$189,900

Don't wait to build. Your upgraded townhouse is here now! This townhouse delivers 3 bedrooms, 2 1/2 baths, bedroom-level laundry, formal living room, great room, office, two car garage and all the upgrades you're looking for...granite countertops throughout, stainless steel appliances, finished basement w/ storage and more! Great location: close to shopping, BYU and UVU. HOA includes high-speed internet, cable tv, and clubhouse with: theater room, workout room, game room, pool, and jacuzzi.

Rooms Include

• 3 Total Bedrooms
• Floor 2: 3
• 3 Total Bathrooms
• Floor 2: 2 Full
• Floor 1: 1 Half
• Other Rooms:
• Floor 2: 1 Laundry Rm(s);
• Floor 1: 1 Family Rm(s); 1 Formal Living Rm(s); 1 Kitchen(s); 1 Bar(s);
• Basement: 1 Family Rm(s);

Square Feet On Each Floor

• Floor 2: 740 sq. ft.
• Floor 1: 720 sq. ft.
• Basement: 280 sq. ft.
• Total: 1740 sq. ft.

Local Schools

• School District: Provo
• Elementary School: Westridge
• Jr High: Dixon
• Sr High: Provo

Lot Size In Acres

• Acres: 0.02

Interior Features Include

• Bath: Master
• Closet: Walk-In
• Dishwasher, Built-In
• Range/Oven: Free Stdng.
• Granite Countertops
• Floor Coverings: Carpet; Linoleum
• Window Coverings: Blinds; Draperies
• Air Conditioning: Central Air; Electric
• Heating: Gas: Central
• Basement: (95% finished) Partial

View Photo Tour Here

 

Contact Julie Larson if you'd like to see it in person:

801-755-8899

Keller Williams South Valley Realty

Listed on the Wasatch Front MLS # 1157983

 

 

Should I Short Sale my Home or Let it Foreclose?

Many homeowners will make every attempt to keep their home, once faced with financial difficulties. Borrowing from friends or family members; draining their savings; draining their retirement or children's college fund; long, tedious loan modification process, etc.

It's when the resources are all gone and they realize a loan modification is not going to happen, that homeowners face the decision to short sale or just let it foreclose.

Before you decide, there are several factors to keep in mind.

• Social Stigma - In a short sale, you are in control of the sale. You still get to decide which offer to accept and send to the bank. Your experienced agent is sensitive to the matter and will not put up a sign in your yard that reads "SHORT SALE" for all the neighbors to see. But the bank will have no problem at all posting "FORECLOSURE" if you walk away.
• Buying Again - Your dream is not over. Many homeowners who successfully short sale can buy in as little as 2-3 years down the road. For foreclosure, you're looking at 5-7 years!
• Credit - The late payments are going to be a big ding to your credit but did you know that some prospective employers will run a credit check and turn you away if he/she sees a foreclosure? The credit reporting on a short sale varies, but generally states, "Paid in full for less than balance owed" or it may say it's charged off.
• Incentive Programs - Since many banks are no longer participating in the government's Home Affordable Foreclosure Alternatives (HAFA) Program, some have come up with their own versions, offering homeowners relocation assistance. Before walking away, see what your bank has to offer.
• Deficiency - Whether you short sale or walk away and let it foreclose, the bank will issue you a 1099C for the deficiency. In a short sale, the deficiency will equal the remaining balance due under the mortgage note, after subtracting the amount of cash proceeds the bank receives from the closing of the sale. The Mortgage Forgiveness Debt Relief Act was recently extended to December 2013 and your CPA or tax professional will be able to determine if you are eligible.

I have helped over 125 Utah families avoid foreclosure and find the solution that best fit their individual needs. If you know of anyone in this situation, have them give me a call and I will discuss their options at no cost and with no obligation.

Julie Larson
Realtor Utah
801-755-8899

Search for Homes Here

callteamlarson@gmail.com

Buying A Short Sale? Read This First!!

Nothing is more frustrating for a short sale buyer than the wait time!! The seller is going through a tough, personal time and does not have the obligation to disclose the details, so even with regular updates, the buyer's agent is not always privvy to what's going on behind the scenes.

Your agent may only specialize in buyers and may not have ever worked with a bank on a short sale before. This quick guide will give you some insight as to things that can come up during the process, questions to ask your agent, things to do and things definitely NOT to do!

Save the anxiety and frustration by reading this first! ---> Buying A Short Sale

Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here

callteamlarson@gmail.com

 

Fiscal Cliff Deal Includes Mortgage Debt Relief Act

MORTGAGE FORGIVENESS DEBT RELIEF ACT EXTENDED

 

In 2007, George W. Bush signed into effect the Mortgage Forgiveness Debt Relief Act. President Obama extended it and it was set to expire December 31st, 2012.

Congress passed a bill to avert the fiscal cliff and it will become law when President Obama signs it. Included in the fiscal cliff deal is an extension of the Act for one more year.

This Act waived the tax liability that previously came with the forgiveness of debt that happens when a bank forecloses or a homeowner short sales their home and the amount owed is greater than what the home sells for.

The difference between these two numbers is considered forgiven debt and reported as income to the homeowner by the bank to the IRS.

Before the Mortgage Forgiveness Debt Relief Act, losing your home wasn't the biggest pain you'd feel. You might also have to pay taxes on the forgiven debt as though it were income!

If I were facing foreclosure or if I owed more than my home is worth, I’d want to explore my options ASAP for two very important reasons.

1.  I want to resolve the forgiven debt situation before the end of 2013 so I KNOW what my tax bill will be (before the end of the year it’s GUARANTEED to be zero**).

2.  I understand supply and demand. The closer we get to the end of the year, the more the media will talk about the looming tax bill for homeowners and people will be frantically looking for help to avoid these taxes.  The last thing anyone wants is to owe the IRS taxes. The well informed will have explored their options and put in motion solid plans.

I’ve helped over a hundred homeowners over the past 5 years strategically avoid foreclosure. I’ve also helped a few who have waited until the last minute, but honestly, the longer a homeowner waits to get help, the fewer options they have & the more difficult recovery can be.

If you or someone you care about owes more than their home is worth, even if they are in the process of working out a loan mod, or plan to stick it out, just to be safe, they should give me a call at (801)755-8899 and evaluate their options.

Sincerely,

Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here
callteamlarson@gmail.com

**If you are covered by the MFDRA.



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Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here

callteamlarson@gmail.com

 

Buying A Short Sale

Nothing is more frustrating for a short sale buyer than the wait time!! The seller is going through a tough, personal time and does not have the obligation to disclose the details, so even with regular updates, the buyer's agent is not always privvy to what's going on behind the scenes.

Your agent may only specialize in buyers and may not have ever worked with a bank on a short sale before. This quick guide will give you some insight as to things that can come up during the process, questions to ask your agent, things to do and things definitely NOT to do!

Save the anxiety and frustration by reading this first! ---> Buying A Short Sale

Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here

callteamlarson@gmail.com

 

896 W 675 S Mapleton - Price Reduced to $625,000

896 W 675 S Mapleton, UT 84664

Call or Text TG if you would like to tour this beautiful home! 801-755-0446

Was $649,900 ---> NOW $625,000!!

THIS IS NOT A SHORT SALE!

THIS HOME IS MOVE-IN READY TODAY!!

Fabulous new home with front yard landscaping on one acre in Mapleton. Enjoy a master with two more bedrooms and an office on the main floor. Three bedrooms with two bathrooms (one Jack and Jill) and a family room upstairs. Spacious unfinished basement includes a large future tiered theater room. Entrance into basement from second garage for a potential mother-in-law apartment. Oversized garages allow for 5 cars and your toys too. Don't miss the large hidden pantry in the kitchen. This is a must see!

Rooms Include

• 6 Total Bedrooms
• Floor 2: 3
• Floor 1: 3
• 5 Total Bathrooms
• Floor 2: 2 Full
• Floor 1: 2 Full
• Floor 1: 1 Half
• Other Rooms:
• Floor 2: 1 Family Rm(s); 1 Laundry Rm(s);
• Floor 1: 1 Family Rm(s); 1 Formal Living Rm(s); 1 Kitchen(s); 1 Bar(s); 1 Laundry Rm(s);

 

Square Feet On Each Floor

• Floor 2: 1600 sq. ft.
• Floor 1: 2900 sq. ft.
• Basement: 2900 sq. ft.
• Total: 7400 sq. ft.

Lot Size In Acres

• Acres: 1.00

Inclusions

• Ceiling Fan
• Fireplace Insert
• Microwave
• Range
• Range Hood
• Refrigerator

Interior Features Include

• Bath: Master
• Bath: Sep. Tub/Shower
• Closet: Walk-In
• Dishwasher, Built-In
• Disposal
• Great Room
• Jetted Tub
• Oven: Double
• Range: Countertop
• Range: Gas
• Floor Coverings: Hardwood; Travertine
• Window Coverings: None
• Air Conditioning: Central Air; Electric
• Heating: Gas: Central
• Basement: (0% finished) Full

 

Exterior Features Include

• Exterior: Basement Entrance; Double Pane Windows; Entry (Foyer); Patio: Covered
• Lot: Road: Paved; Sidewalks; Terrain, Flat
• Landscape: Landscaping: Part
• Roof: Asphalt Shingles
• Exterior: Aluminum/Vinyl; Asphalt Shingles; Stone; Stucco
• Patio/Deck: 1 Deck
• Garage/Parking: Attached; Extra Height; Opener; Extra Length
• Garage Capacity: 5



Call or Text TG today! 801-755-0446



Listed with Julie Larson

Keller Williams South Valley Realty

801-755-8899

MLS# 1074096



Remodeled 3-Bedroom Sugarhouse Bungalow $249,900

967 E ATKIN AVE, SALT LAKE CITY, UT 84106

TG 801-755-0446





1924 Bungalow | 3 Bedroom | 1.75 Bath

1,911 Sq ft | .17 Acre

Move-in ready 3 bedroom 1.75 Bath in Sugarhouse. New Kitchen; Bathrooms; Paint; Carpet; High Efficient Furnace; AC; Water Heater; and Windows. Beautiful home in quiet Salt Lake City Neighborhood. Lots of Mature Landscaping. Near parks and shopping.

If you'd like to go check it out, call or text

TG at 801-755-0446

Listed with Julie Larson

Keller Williams South Valley Realty

801-755-8899

MLS# 1102680

Home Staging Tips and Information

Home Staging

Home staging may help your home sell faster, resulting in a better price than you probably would be able to without staging.  Always remember is that your home should appeal to a wide variety of buyers. 

Staging is best done before the home ever goes on the market, but it can be to help homes that are not selling.

Most buyers make up their mind about a home even before entering it, which is why it is important to achieve a good first impression. Here are some DIY tips to help you prepare your house for the best first reaction.

• Clean your house! Kitchen, bathrooms, carpets & windows. Make certain it passes the sniff test!
• Make your home organized and less cluttered, storing any unnecessary items. This will make your home look neat and spacious.

• Curb appeal! Curb appeal! If needed, get your home repainted. Then mow the lawn, clean up planter beds, add flowers, replace anything broken or missing.
• Check the floors. Anything that might need refinishing or replacing may turn off potential buyers.
• Organize furniture and accessories to create an easy flow from room to room. Make the most of what you already have, but there are also furniture renting options or you can even borrow items from friends & family.
• Keep personal pictures and items to a minimum. You want buyers to visualize themselves living in the home, by keeping the colors and the decor neutral.

If your budget allows, bringing in a professional home stager may be for you. Your real estate agent can help you in this regard. Most experienced agents have already utilized the services of the professional home stagers in your area. It is always good to get an estimate from a few home stagers, then discuss estimates with them before making a final decision.

We've worked with a number of professional home stagers and would love to answer any questions you may have.

Call or email today!

Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here

callteamlarson@gmail.com

What is a Short Sale?

A SHORT SALE is a sale of real estate, where the proceeds from selling the property will fall short of the balance owed to the bank. The homeowner cannot afford to repay the mortgage's full amount and the bank agrees to accept less than the amount owed on the mortgage. 

The bank will require the following items before processing your short sale:

• Authorization (Allowing us to speak to your bank)
• Hardship Letter (Letter explaining the situation that lead you to have to sell) 
• Financial Worksheet (Most forms are specific to and provided by the bank)
• Copies of last 2 Pay Stubs
• Copies of last 2 Bank Statements
• Copies of last 2 years' Tax Returns
• IRS Form 4506T (copy of tax return transcripts)

The home is listed and once an offer has been accepted by the homeowner and submitted to the bank, the average short sale can take 90 days. Factors that can affect this average are:

• Type of mortgage (FHA, Conventional, VA, etc)
• Who your Mortgage Investor is
• If you have Mortgage Insurance
• The amount of loss the bank will be taking (There are extra level of Quality Control)

We have a system that keeps homeowners up-to-date in real time on the progress of their short sale. If you or someone you know have more short sale questions that you would like answered or to see if a short sale is right for you, call Julie Larson 801-755-8899. If you're not ready for that conversation, shoot me an email callteamlarson@gmail.com.

Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here

callteamlarson@gmail.com

BEAUTIFUL Home Before and After Pictures

TG Larson is the team's property manager and master renovator. Not only does he help out the homeowner, he helps out the home. Which in turn, helps the neighborhood and overall property values!

Check out one of his latest projects! AWESOME JOB TG!!

Julie Larson
Realtor Utah
801-755-8899
Search for Homes Here

callteamlarson@gmail.com

 

FOR SALE - 896 W 675 S Mapleton $649,900

Call TG to take a tour! 801-755-0446

6 Bedroom | 4.5 Bath | 7,400 sq ft | 1 acre

$649,900

Listed with Julie Larson at

Keller Williams South Valley Realty

1864 W 12600 S Ste 6

Riverton, UT 84065

801-755-8899

teamlarsonoffers@gmail.com

MLS# 1074096