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The Root Causes Of Foreclosures by real estate expert Kathy Opolski PDF Print E-mail

The Root Causes Of Foreclosures by real estate expert Kathy Opolski

At one time there were two main causes for foreclosures in our country. We are going to discuss these causes and see how it affects the real estate and banking industries.

The two main causes that originally brought about a foreclosure event were divorce and failed businesses. The bigger of the two is divorce and it is usually based on the departure of the husband.

Failed businesses are the second commonest cause for foreclosure in Salt Lake City Utah. Often times, the homeowner has been swamped with debts and has either refinanced or gotten second or third mortgages in [Profile.market. Unfortunately in these cases, the only available avenue for the bank to take is to foreclose on the house in Salt Lake City Utah.

In our country today, the state of the nation has caused a horrendous amount of foreclosures. Layoffs and major companies going bankrupt has caused people to get behind in their monthly payments and not able to catch up.

In previous years, a lot of people were able to avoid these problems by doing such things as refinancing their homes, sell their homes, or get a consolidation loan. When they combined their debt they were often able to get one lower payment.

Unfortunately, today the debt is a lot higher than what a home is worth and the only option is foreclosure. This has brought about a huge amount of homes in Salt Lake City Utah that are either sitting empty or are now owned by the banks.

There is a lot of free information available to you about buying, selling or investing in Salt Lake City Utah real estate. For complete information about the Salt Lake City Utah real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Salt Lake City Utah real estate at www.BuySaltLakeCityHomes.com. Please feel free to contact me with any of your real estate or mortgage related questions and I would be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

 
Ski/Ride Brighton Resort For Only $50 - Dec 17! Register Today! PDF Print E-mail

Shred the Edge!!

Support the Special Oympics and Have a Great Time Doing It! 

Ride Brighton Resort for only $50!  December 17, 2011, Special Olympics athletes, the Utah Ski Team, tons of volunteers and fundraisers will be heading up to Brighton Ski Resort for a day of skiing, prizes, competitions and sweet shwaggg from the best ski companies around. Pepsi and Harmons are sponsoring the event, and we want everyone to come!

Put together a team of family and friends and have a blast!

DEAL: Sign up as a family, as an individual or make a team with your friends, raise $50 (per person), and you get a free lift pass for the day. Raise more than $50 - you could win even better prizes like Skullcandy earbuds, beanies, lunch at the lodge, a Harmons gift certificate, free day passes to Brighton and entrance into the Grand Prize Drawing where you could win a ski trip to Big Sky in Montana!

Call 801-363-1111 ext. 228 for more information or go to www.sout.org

If ylu would like to the resorts faster move closer to the mountains! Call me at 801-518-4599. 

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City real estate market including foreclosures, short sales and more, visit the website dedicated to everything Salt Lake City Utah real estate.

For a FREE Weekly List of Foreclosed Homes with 4-5 Bedrooms in Salt Lake City, UT under $150,000 fill in the form below and you will receive home listings as they hit the market.  You will get all the hot listings as they come up even before most agents see them!

Just fill in the form below with your correct name and e-mail address and we will set it up to have the list automatically e-mailed to you.  Just add it in the comments if you have an interest in Short Sales and HUD homes too!

If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599.


 
Salt Lake City Real Estate - Another Week in Utah PDF Print E-mail

 

There is an old saying about Utah - You come here because of the winter but stay here because of the summer. The summers are so spectacular here with so much to do!

The kick-off of daylight savings gives the illusion that spring is right here, but no not quite yet at least.

There has been a lot going on this past week so we really don't have much time to think about summer yet.  Selling real estate and keeping up with the market is busy enough but then to fit in all the interesting things that go on around us makes for busy weeks!

Here are some examples. Last Thursday it snowed early in the morning and was wet/heavy snow that clung to the trees.  A little later the skies cleared and the bright sun came out.  It was so spectacular I had to take a few pics outside the house.

I had the opportunity to ski Friday morning then showed a dozen homes!  What a day! 

Saturday – Showed a few condos in the morning then ran an Open House and then showed 9 homes!  Whew!

Sunday – Friends in town from Pittsburgh, someone has to ski with them.  It’s a beautiful sunny day in Utah – again!  They are animals- these three men ski together and testosterone oozes from their skis and I just try to keep up! 

So to finish the day we are beat and ready for a beer. So we take the oldest lift at the Canyons Resort.  Wouldn’t you know it breaks right before we get off and is inoperable.  Here I am at the end of the day stranded on a lift!  So we got evacuated!  See pics below.  Luckily it was sunny and not too cold!  I have this reputation of adventures like this often but as you can see I had nothing to with the chair breaking!

             

There is a lot of free information available to you about buying, selling or investing in Salt Lake City Utah real estate. For complete information about the Salt Lake City Utah real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Salt Lake City Utah real estate at KathyOHomes.com  or BuySaltLakeCityHomes.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

 
Salt Lake City Real Estate - Another Week in Utah PDF Print E-mail

There is an old saying about Utah - You come here because of the winter but stay here because of the summer. The summers are so spectacular here with so much to do!

The kick-off of daylight savings gives the illusion that spring is right here, but no not quite yet at least.

There has been a lot going on this past week so we really don't have much time to think about summer yet.  Selling real estate and keeping up with the market is busy enough but then to fit in all the interesting things that go on around us makes for busy weeks!

Here are some examples. Last Thursday it snowed early in the morning and was wet/heavy snow that clung to the trees.  A little later the skies cleared and the bright sun came out.  It was so spectacular I had to take a few pics outside the house.

I had the opportunity to ski Friday morning then showed a dozen homes!  What a day! 

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Saturday – Showed a few condos in the morning then ran an Open House and then showed 9 homes!  Whew!

Sunday – Friends in town from Pittsburgh, someone has to ski with them.  It’s a beautiful sunny day in Utah – again!  They are animals- these three men ski together and testosterone oozes from their skis and I just try to keep up! 

So to finish the day we are beat and ready for a beer. So we take the oldest lift at the Canyons Resort.  Wouldn’t you know it breaks right before we get off and is inoperable.  Here I am at the end of the day stranded on a lift!  So we got evacuated!  See pics below.  Luckily it was sunny and not too cold!  I have this reputation of adventures like this often but as you can see I had nothing to with the chair breaking!

             

There is a lot of free information available to you about buying, selling or investing in Salt Lake City Utah real estate. For complete information about the Salt Lake City Utah real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Salt Lake City Utah real estate at KathyOHomes.com  or BuySaltLakeCityHomes.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 801-518-4599 or email me at kathyo@kathyohomes.com.

 
Real Estate Market Review PDF Print E-mail
THE SALT LAKE BOARD OF REALTORS® REPORTS 11% RISE IN SECOND QUARTER HOME SALES

29 July 2010 (Sandy) - The Salt Lake Board of REALTORS® today reported that second quarter existing home and condominium sales in Salt Lake County increased 11 percent compared to the same quarter last year (3,469 sales vs. 3,135).

Sales were strongest throughout many ZIP code areas including: West Valley City (84120) up 54 percent; Cottonwood (84121) up 46 percent; South Jordan (84095) up 14 percent; and the Avenues (84103) up 12 percent.
For the first half of 2010, sales of all residential properties were up 15 percent compared to the same six-month period in 2009 (5,672 sales vs. 4,942 sales). June home and condo sales were down 16 percent compared to June 2009 (1,040 sales vs. 1,241 sales).

Property Type:
There were 2,825 single-family homes sold in Salt Lake County in the second quarter, up 10 percent compared to 2,563 single-family homes sold during the same period in 2009.
Condominiums, townhomes and twin homes accounted for 615 sales in the second quarter, up 9 percent compared to 565 sales a year earlier.

Median Price:
The median price of all residential properties sold in Salt Lake County in the second quarter was $205,900, down 7 percent compared to a median price of $222,000 a year ago.
The median price of single-family homes sold in the second quarter was $219,900, down 8 percent compared to a median price of $239,000 last year.
The median price of condominiums, townhomes and twin homes sold in the second quarter was $161,500, down 6 percent compared to a median price of $172,240.
Prices fell in most ZIP code areas, but there were some areas that saw modest price increases. They included: Harvard/Yale (84105) up 6 percent; Taylorsville/Kearns (84123) up 5 percent; and Holladay (84124) up 2 percent.
Read more...
 

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