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Check this out
http://www.hud.gov/local/ut/news/fhaincentives.cfm
Jimmy
Wednesday, April 1, 2009
Saturday, March 21, 2009
January 28th, 2009
Bid results will be posted later today. Please continue to check BID RESULTS for notice of today’s bid awards.
Attention All HUD Registered Brokers
NEW!
***FHA Special Sales Incentives***
We are pleased to announce a special sales incentive for owner occupant purchasers who will be utilizing FHA financing. HUD is currently offering a $100 Down payment initiative. The $100 down payment is for owner occupants (Any individual who purchases a HUD home as their primary residence for it for at least 12 months after closing and who has not purchased a home from HUD as an owner occupant in the past twenty four months) purchasing a HUD Home with FHA financing, with full price offers. This incentive is also available to owner occupant purchasers who obtain an FHA Home Repair loan. It’s a great time to Purchase a HUD Home with FHA financing. This special sales incentive will be offered beginning with new and re-listed properties beginning November 23, 2007.
Don’t miss this great opportunity to get into a home of your own and get an affordable and safe loan product. Interested homebuyers and Brokers can learn more about this sales event by contacting our Denver Regional Office at 303-758-6736 or view the attached FAQ Link.
Note: Earnest Money Policies and all other contract requirements will remain the same; these incentives do not apply with any other discount programs HUD endorses. “Full Price Offers” refers to the current list price. $100 Down payment financing is available on most properties through FHA approved lenders. Please note that the $100 down offer applies if the purchase price is less than or equal to the appraised value of the property. If the purchase price is greater than the appraised value, the purchaser will be responsible for the difference between the overbid amount to be paid in cash at closing. Any previous guidance to these terms ended effective October 3, 2008. For further information please refer to Mortgagee Letter 2000-27.
For frequently asked questions in regard to these sales incentives, please click here.
Good Neighbor Next Door Program - HUD has revised regulations governing the Officeer Next Door / Teacher Next Door / Firefighter/EMT Next Door Special Sales Programs. These Programs are now known collectively as the Good Neighbor Next Door Program. Please click here for and on overview and refer to our Special Programs section of the website for more details.
A nnouncement: Broker Registration Deactivation:
In order to be able to actively participate in the sale of HUD Homes, Brokers are required to recertify their Name and Address Identifier (NAID) on an annual basis. Failure to do so will result in deactivation of the brokerages bidding privileges. Recently, numerous brokerages were deactivated because of NAID expiration. Notices of the need to recertify have since been sent to all affected brokers. HUD and MCB will make a one time exception that will allow brokers to bid on properties while their recertification is in process. This one exception will expire on January 31, 2007 at which time any broker that failed to submit the required re-certification documents will be placed in inactive status. Note: If your brokerage has not completed the re-certification process, your offer will be accepted, however your contract will not be signed until the re-certification process is complete. The re-certification process takes two to three weeks after receipt of the required documents. .
MCB has an online process for brokers to fill out their NAID applications and to check the current status of their NAID number. To access the broker NAID assistance pages, select the state in which you do business and then select either the online NAID Application or Check NAID Number link located on the right side of the page under Broker and Selling agents.
If your have any questions or need further assistance, please contact our NAID Coordinator at (888) 622-7361.
CLOSING COST IMPLEMENTATIONPlease be advised that HUD’s new closing cost policy takes effect on any contract that is executed by MCB beginning on October 12, 2006. If your contract contains a request for more than 3% closing assistance, it must be received and in ready-to-sign condition (no corrections required) by October 11, 2006. If it is not, you will be issued a correction notification to reduce closing costs to 3%. NO EXCEPTIONS
NEW CLOSING COSTS GUIDELINES
Effective Oct. 12th, 2006 - For all contracts executed on or after October 12th, HUD will pay up to an amount equal to 3% of the purchase price for purchaser financing and closing costs considered to be reasonable and customary in the jurisdiction where the property is located. If the total closing costs reflected on the HUD 1 settlement statement are less than the amount indicated on the sales contract, HUD will reimburse only the actual costs charged and will not credit the purchaser with any difference either in cash or through a reduced purchase price. Within the three percent (3%) allowance, HUD will reimburse loan origination fees up to one percent of the mortgage. However, on an FHA 203(k) rehabilitation mortgage loan, HUD will reimburse one and a half percent (1.5%) of the mortgage. NOTE: If the purchaser is requesting HUD paid closing cost assistance, the amount must be entered on line 5 of the bid submission form at the time the bid is submitted. Adding an amount to the purchase agreement after submission of the bid is not allowed. Please review HUD Housing Notice H-2006-12
New Owner Occupant Opportunity In order to further enhance Owner Occupant’s opportunity for home ownership, and HUD’s mission to preserve neighborhoods by increasing home ownership, MCB will implement the following changes for all re-listed and price reduced properties beginning November 11, 2005. MCB is changing the owner occupant priority bidding period to five days for all re-listed properties and when a price reduction takes place. If a property is re-listed due to a contract cancellation, a rescinded offer prior to contract acceptance, or price reduction, only Owner Occupant purchaser’s bids will be accepted for the first five days. All bids for re-listed and price reduced properties will be reviewed for acceptance on the sixth day. All bids during this period will be considered received simultaneously. If no acceptable owner occupant bids are received during the five day priority period, all other purchasers may bid on the 6th day after the bid results have been posted. All properties, including re-listed properties, will continue to be offered every Friday. This change will not affect the current back up offer policy of tentatively accepted offers.
Property ListingsOn November 29th, First Preston stopped accepting bids on HUD properties located in the states of Colorado , Montana , Utah and Wyoming . On December 2nd, files for properties that were unsold arrived at our office. Each property must be re-inspected and reanalyzed before being returned to the market. This process will take time. Please check our listing of available properties each Friday to see if the property you are looking for is again available for bidding.
REAL ESTATE BROKER SATSIFACTION SURVEYThe Department of Housing and Urban Development has issued a voluntary Real Estate Broker Satisfaction Survey to be completed at closing. This survey is to determine the quality of service provided by the Marketing and Management contractor, the HUD designated closing agent, and overall satisfaction with the HUD property sales program. Real Estate Broker Satisfaction SurveyHUD Website / HUD Survey Web Page
ATTENTION ALL BROKERS AND MORTGAGE SERVICERS IN Colorado , Montana , Utah & Wyoming :Please be aware Michaelson, Connor & Boul (MCB) assumed the Marketing & Management responsibilities for the Department of Housing and Urban Development (HUD) starting November 10, 2004 in the states of Colorado , Montana , Utah & Wyoming . All mortgagee requests should be directed to our attention beginning on November 10th to the following address:
Michaelson, Connor and BoulAttn: Pre-Conveyance5312 Bolsa AvenueHuntington Beach , CA. 92649(888) 622-7361(714) 230-3699 fax
Continue to visit our website for further updates on this transisition.
Attention Sub-Contractors for the States of Colorado, Montana, Utah, and Wyoming: Michaelson, Connor & Boul, Inc. is collecting general interest statements for sub-contractoring opportunities for the states listed above. If you are currently performing work on FHA or HUD properties in one of the areas listed above, or would like to express interest as a sub-contractor for one of the areas above, contact us via e-mail at MCB Sub-Contractors. The services to be performed include appraisals, termite inspections and treatment, landscaping, inspections, clean outs, general maintenance and lead based paint assessment abatement. Click Here for the current RFPs.
Back to Utah State Page
Bid results will be posted later today. Please continue to check BID RESULTS for notice of today’s bid awards.
Attention All HUD Registered Brokers
NEW!
***FHA Special Sales Incentives***
We are pleased to announce a special sales incentive for owner occupant purchasers who will be utilizing FHA financing. HUD is currently offering a $100 Down payment initiative. The $100 down payment is for owner occupants (Any individual who purchases a HUD home as their primary residence for it for at least 12 months after closing and who has not purchased a home from HUD as an owner occupant in the past twenty four months) purchasing a HUD Home with FHA financing, with full price offers. This incentive is also available to owner occupant purchasers who obtain an FHA Home Repair loan. It’s a great time to Purchase a HUD Home with FHA financing. This special sales incentive will be offered beginning with new and re-listed properties beginning November 23, 2007.
Don’t miss this great opportunity to get into a home of your own and get an affordable and safe loan product. Interested homebuyers and Brokers can learn more about this sales event by contacting our Denver Regional Office at 303-758-6736 or view the attached FAQ Link.
Note: Earnest Money Policies and all other contract requirements will remain the same; these incentives do not apply with any other discount programs HUD endorses. “Full Price Offers” refers to the current list price. $100 Down payment financing is available on most properties through FHA approved lenders. Please note that the $100 down offer applies if the purchase price is less than or equal to the appraised value of the property. If the purchase price is greater than the appraised value, the purchaser will be responsible for the difference between the overbid amount to be paid in cash at closing. Any previous guidance to these terms ended effective October 3, 2008. For further information please refer to Mortgagee Letter 2000-27.
For frequently asked questions in regard to these sales incentives, please click here.
Good Neighbor Next Door Program - HUD has revised regulations governing the Officeer Next Door / Teacher Next Door / Firefighter/EMT Next Door Special Sales Programs. These Programs are now known collectively as the Good Neighbor Next Door Program. Please click here for and on overview and refer to our Special Programs section of the website for more details.
A nnouncement: Broker Registration Deactivation:
In order to be able to actively participate in the sale of HUD Homes, Brokers are required to recertify their Name and Address Identifier (NAID) on an annual basis. Failure to do so will result in deactivation of the brokerages bidding privileges. Recently, numerous brokerages were deactivated because of NAID expiration. Notices of the need to recertify have since been sent to all affected brokers. HUD and MCB will make a one time exception that will allow brokers to bid on properties while their recertification is in process. This one exception will expire on January 31, 2007 at which time any broker that failed to submit the required re-certification documents will be placed in inactive status. Note: If your brokerage has not completed the re-certification process, your offer will be accepted, however your contract will not be signed until the re-certification process is complete. The re-certification process takes two to three weeks after receipt of the required documents. .
MCB has an online process for brokers to fill out their NAID applications and to check the current status of their NAID number. To access the broker NAID assistance pages, select the state in which you do business and then select either the online NAID Application or Check NAID Number link located on the right side of the page under Broker and Selling agents.
If your have any questions or need further assistance, please contact our NAID Coordinator at (888) 622-7361.
CLOSING COST IMPLEMENTATIONPlease be advised that HUD’s new closing cost policy takes effect on any contract that is executed by MCB beginning on October 12, 2006. If your contract contains a request for more than 3% closing assistance, it must be received and in ready-to-sign condition (no corrections required) by October 11, 2006. If it is not, you will be issued a correction notification to reduce closing costs to 3%. NO EXCEPTIONS
NEW CLOSING COSTS GUIDELINES
Effective Oct. 12th, 2006 - For all contracts executed on or after October 12th, HUD will pay up to an amount equal to 3% of the purchase price for purchaser financing and closing costs considered to be reasonable and customary in the jurisdiction where the property is located. If the total closing costs reflected on the HUD 1 settlement statement are less than the amount indicated on the sales contract, HUD will reimburse only the actual costs charged and will not credit the purchaser with any difference either in cash or through a reduced purchase price. Within the three percent (3%) allowance, HUD will reimburse loan origination fees up to one percent of the mortgage. However, on an FHA 203(k) rehabilitation mortgage loan, HUD will reimburse one and a half percent (1.5%) of the mortgage. NOTE: If the purchaser is requesting HUD paid closing cost assistance, the amount must be entered on line 5 of the bid submission form at the time the bid is submitted. Adding an amount to the purchase agreement after submission of the bid is not allowed. Please review HUD Housing Notice H-2006-12
New Owner Occupant Opportunity In order to further enhance Owner Occupant’s opportunity for home ownership, and HUD’s mission to preserve neighborhoods by increasing home ownership, MCB will implement the following changes for all re-listed and price reduced properties beginning November 11, 2005. MCB is changing the owner occupant priority bidding period to five days for all re-listed properties and when a price reduction takes place. If a property is re-listed due to a contract cancellation, a rescinded offer prior to contract acceptance, or price reduction, only Owner Occupant purchaser’s bids will be accepted for the first five days. All bids for re-listed and price reduced properties will be reviewed for acceptance on the sixth day. All bids during this period will be considered received simultaneously. If no acceptable owner occupant bids are received during the five day priority period, all other purchasers may bid on the 6th day after the bid results have been posted. All properties, including re-listed properties, will continue to be offered every Friday. This change will not affect the current back up offer policy of tentatively accepted offers.
Property ListingsOn November 29th, First Preston stopped accepting bids on HUD properties located in the states of Colorado , Montana , Utah and Wyoming . On December 2nd, files for properties that were unsold arrived at our office. Each property must be re-inspected and reanalyzed before being returned to the market. This process will take time. Please check our listing of available properties each Friday to see if the property you are looking for is again available for bidding.
REAL ESTATE BROKER SATSIFACTION SURVEYThe Department of Housing and Urban Development has issued a voluntary Real Estate Broker Satisfaction Survey to be completed at closing. This survey is to determine the quality of service provided by the Marketing and Management contractor, the HUD designated closing agent, and overall satisfaction with the HUD property sales program. Real Estate Broker Satisfaction SurveyHUD Website / HUD Survey Web Page
ATTENTION ALL BROKERS AND MORTGAGE SERVICERS IN Colorado , Montana , Utah & Wyoming :Please be aware Michaelson, Connor & Boul (MCB) assumed the Marketing & Management responsibilities for the Department of Housing and Urban Development (HUD) starting November 10, 2004 in the states of Colorado , Montana , Utah & Wyoming . All mortgagee requests should be directed to our attention beginning on November 10th to the following address:
Michaelson, Connor and BoulAttn: Pre-Conveyance5312 Bolsa AvenueHuntington Beach , CA. 92649(888) 622-7361(714) 230-3699 fax
Continue to visit our website for further updates on this transisition.
Attention Sub-Contractors for the States of Colorado, Montana, Utah, and Wyoming: Michaelson, Connor & Boul, Inc. is collecting general interest statements for sub-contractoring opportunities for the states listed above. If you are currently performing work on FHA or HUD properties in one of the areas listed above, or would like to express interest as a sub-contractor for one of the areas above, contact us via e-mail at MCB Sub-Contractors. The services to be performed include appraisals, termite inspections and treatment, landscaping, inspections, clean outs, general maintenance and lead based paint assessment abatement. Click Here for the current RFPs.
Back to Utah State Page
Sunday, September 14, 2008
Your plan for selling
Your Plan
1. Find the right representativeThe experience and knowledge of a dedicated real estate professional can be priceless. A good Realtor® forms a powerful team with his or her clients that makes it possible for them to have a smooth, successful, stress-free sale.
2. Determine your needs/wants for the sale and for your new homeSelling your primary residence can be tricky because you have to simultaneously be thinking about where you would like to buy. First weigh your priorities – selling price is certainly important, but having a quick and efficient sale can often be worth accepting a slightly lower offer. Talk to your agent and make sure you’re comfortable with where your priorities are.
At the same time, you should be compiling a needs/wants list for the home you will buy. You will probably have to act fairly quickly when your house sells, so any amount of preparation you can do will serve you well.
3. Prepare your house for showing Underprepared homes can be sales disasters. Your home will never get as much attention from potential buyers as when it is first listed, so clearing clutter, cleaning, making repairs, and putting your home’s best foot forward is essential. Don’t “open for business” until your home is ready to be seen as favorably as possible.
4. Find out what your local market looks likeBeing realistic about your market is the key to a smooth sale. There is no substitute for a professional real estate representative when it comes to local market knowledge.
5. List away!Lots of photos and online exposure are the key to getting a good response for your listing. Working with an agent who uses Point2 Agent software is a great step in the right direction. Now just “open” the house and sit back and wait for the flood of eager buyers!
If we can help, please let us do so. www.homesellersofutah.com
1. Find the right representativeThe experience and knowledge of a dedicated real estate professional can be priceless. A good Realtor® forms a powerful team with his or her clients that makes it possible for them to have a smooth, successful, stress-free sale.
2. Determine your needs/wants for the sale and for your new homeSelling your primary residence can be tricky because you have to simultaneously be thinking about where you would like to buy. First weigh your priorities – selling price is certainly important, but having a quick and efficient sale can often be worth accepting a slightly lower offer. Talk to your agent and make sure you’re comfortable with where your priorities are.
At the same time, you should be compiling a needs/wants list for the home you will buy. You will probably have to act fairly quickly when your house sells, so any amount of preparation you can do will serve you well.
3. Prepare your house for showing Underprepared homes can be sales disasters. Your home will never get as much attention from potential buyers as when it is first listed, so clearing clutter, cleaning, making repairs, and putting your home’s best foot forward is essential. Don’t “open for business” until your home is ready to be seen as favorably as possible.
4. Find out what your local market looks likeBeing realistic about your market is the key to a smooth sale. There is no substitute for a professional real estate representative when it comes to local market knowledge.
5. List away!Lots of photos and online exposure are the key to getting a good response for your listing. Working with an agent who uses Point2 Agent software is a great step in the right direction. Now just “open” the house and sit back and wait for the flood of eager buyers!
If we can help, please let us do so. www.homesellersofutah.com
Tuesday, August 5, 2008
Why hire an agent
Hire a Professional Real Estate Agent
A qualified, competent real estate agent will help you navigate the myriad of decisions that arise when buying and selling a home. An agent provides value to the homeowner in many ways:
Pays for all marketing and advertising costs.
Adds experience and expertise in all aspects of the sales process including marketing, financing, negotiations and more.
Handles all showings.
Brings a network of known, trusted real estate professionals. If your agent doesn't have the answer, he or she likely knows someone who does.
Always has your interests in mind so you always have someone on your side.
Can handle and advise on all price and contract negotiations.
Provides you with all the possible options and opportunities without holding back.
Gives an unbiased, realistic view of your home and your options. Unlike buyers and sellers, an agent has no emotional attachment to property.
Has the knowledge to help you ask the right questions.
Being a third party, potential buyers are more likely to tell your agent the truth about your home, even if it is unflattering. This objective viewpoint will help you make the necessary changes to get your home sold.
Your time is valuable. A real estate agent allows you to spend your time how you want.
Let us help www.homesellersofutah.com
A qualified, competent real estate agent will help you navigate the myriad of decisions that arise when buying and selling a home. An agent provides value to the homeowner in many ways:
Pays for all marketing and advertising costs.
Adds experience and expertise in all aspects of the sales process including marketing, financing, negotiations and more.
Handles all showings.
Brings a network of known, trusted real estate professionals. If your agent doesn't have the answer, he or she likely knows someone who does.
Always has your interests in mind so you always have someone on your side.
Can handle and advise on all price and contract negotiations.
Provides you with all the possible options and opportunities without holding back.
Gives an unbiased, realistic view of your home and your options. Unlike buyers and sellers, an agent has no emotional attachment to property.
Has the knowledge to help you ask the right questions.
Being a third party, potential buyers are more likely to tell your agent the truth about your home, even if it is unflattering. This objective viewpoint will help you make the necessary changes to get your home sold.
Your time is valuable. A real estate agent allows you to spend your time how you want.
Let us help www.homesellersofutah.com
Proper home evaluation
Request a Home Evaluation Today!
The Right Selling Price Affects Your Bottom Line
When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors including:
Market conditions
Condition of your home
Repairs or improvements
Time frame
In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days.
If the price of your home is too high, several things could happen:
Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
Limits showings. Other salespeople may be less reluctant to view your home.
Used as leverage. Other realtors may use this home to sell against homes that are better priced.
Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.
Wasted time and energy. A bank appraisal is most often required to finance a home.
Realtors have known it for years – Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that’s why you need a professional to assist you in the selling of your home.
Let us help, www.homesellersofutah.com
The Right Selling Price Affects Your Bottom Line
When you’re selling your home, the price you set is a critical factor in the return you’ll receive. That’s why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors including:
Market conditions
Condition of your home
Repairs or improvements
Time frame
In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days.
If the price of your home is too high, several things could happen:
Limits buyers. Potential buyers may not view your home, because it would be out of their buying range.
Limits showings. Other salespeople may be less reluctant to view your home.
Used as leverage. Other realtors may use this home to sell against homes that are better priced.
Extended stay on the market. When a home is on the market too long, it may be perceived as defective. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”
Lower price. An overpriced home, still on the market beyond the average selling time, could lead a lower selling price. To sell it, you will have to reduce the price, sometimes, several times. In the end, you’ll probably get less than if it had been properly priced at the start.
Wasted time and energy. A bank appraisal is most often required to finance a home.
Realtors have known it for years – Well-kept homes, properly priced in the beginning always get you the fast sale for the best price! And that’s why you need a professional to assist you in the selling of your home.
Let us help, www.homesellersofutah.com
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