EXIT Realty Corp International is excited to once again be a Master Homebuilder Sponsor for Habitat for Humanity. The Habitat for Humanity project is a great organization that provides affordable homes to deserving families. EXIT Realty has been a long standing supporter and contributor to Habitat for Humanity in both labor and donations. “A portion of every transaction fee collected by EXIT Realty Corp. International is applied to our charitable fund,” remarked EXIT Realty Founder and CEO, Steve Morris. To date EXIT Realty Corp has pledged over $1.6 million to Habitat for Humanity.

The newest project that EXIT Realty will be a part of is a build in South Salt Lake City, Utah. EXIT Realty Mountain West is thrilled to be a part of this endeavor.  Justin Stratton, Regional Owner of Exit Realty Mountain West in Orem remarked, “We are very excited about the upcoming Habitat Build in Salt Lake City.  This is a tremendous opportunity for us to give back to the community that supports our business.  We are proud to have EXIT associated with a great cause that changes not only the lives of the family getting a new home, but also the lives of those who donate their time to build it!”

Build Details

Habitat for Humanity provides affordable housing options through the support and contributions of local businesses and residents. EXIT Realty Mountain West will be participating in the South Salt Lake build May 11, 12, 14 and 15, 2010. Please contact your local EXIT Realty office or 801-613-3948 for more information or if you’d like to participate in this build.

For more information about Exit Realty Mountain West, please visit www.exitutah.com or call 801-613-3948. Exit Realty Mountain West is located at 504 West 800 North, Orem, Utah. To learn more about the work of Habitat for Humanity, visit www.habitat.org.

As you have probably already heard, Congress has approved an extension of the first-time homebuyers credit.    You now have until April 30, 2010 to enter into a binding contract to purchase a home.  You must close on your new home by June 30, 2010.   The new law even allows for long time home owners looking to purchase a new primary residence to benefit from the tax credit.   You can see more from the IRS here.  There is also a question and answer section here.

With the extension of the homebuyers credit, now is a great time to start looking for a new home.  As we’ve discussed previously, this is definitely a buyer’s market.  There are too many positives to not try and take advantage of lower home prices and Government incentives.  Begin searching for your home right now!  And, if you’re looking for an Real Estate agent, we’ve got many great options at Exit Realty.  Good luck finding a new home and happy hunting!

As always, when dealing with contracts and tax information, its best to contact an attorney and/or accountant to make sure you understand all the information you receive.

Ask any seller and they’ll probably tell you there is no advantage to the current market conditions.  There may be some truth to their statement, but can you turn this market to be an advantage to both buyers and sellers?  The answer is yes!

As we discussed previously, now is the best time to buy and many people may be thinking “how can I get out of my current home and upgrade to a newer or bigger home?”  Although we always think a straight sell and purchase is our only option, there is another route to consider-the lease agreement with option to purchase contract.  Let’s look at some of the scenarios where this might be something to consider using.

You’re a seller and haven’t had many people come look at your house let alone received any offers.  You’re also concerned about getting the value of the property back during the sale.  Unfortunately, with the new mortgage requirements, even the few people who have looked and might be interested in your home can’t qualify for a loan.  A lease-option contract will allow a buyer to move into the house under a lease and includes a clause for them to purchase the home within a specified time period.  It is best to establish the purchase price of the home during this initial contract negotiation; this allows both parties to know exactly what they are agreeing to and what their costs will be.  This also allows you, the seller, to purchase your new home while having the costs of your old home covered.

The lease-option contract provides benefits to both the buyer and the seller.  A buyer is able to get into a home and begin to build some equity in the property.  This is done by a portion of the lease price being applied to the purchase of the home.  The buyer also begins to maintain the property as if they are the owner, so these expenses are not longer carried by the seller.  Because the seller still owns their original property, they continue to enjoy all the tax benefits they previously did.  These are just a few of the benefits to both sellers and buyers.  Remember, it is always wise to consult an accountant and/or an attorney when trying to understand tax benefits and contracts.

To learn more about a lease agreement with option to purchase, contact a Realtor.  They are a great source to better understand if this is the right choice for you.  To search for a home or find a realtor, visit Exit Realty Mountain West here.  We look forward to working with and serving you.

In the current economic state, the answer to this question seems obvious.  But, how do you really know if it is a buyer’s market?  Believe it or not, there is a mathematical equation to help you determine if it is a buyer’s market or a seller’s market.  Simply take the number of houses/condominiums sold in the last 30 days divided by the number of houses/condominiums currently list for sale.  If the result is greater than 50%, its a seller’s market.  If the result is less than 50%, its a buyers market.

Its pretty obivous as you drive through your neighborhood that there are a lot of homes for sale.  And, from everything you hear on the news and around the water cooler, it is definitely a buyer’s market.  But, what if you’re the one selling your home?  How do you maximize on this market?  Also, you may be thinking that this is a great time to upgrade your home and get into that house you’ve been admiring in the neighborhood over.  There are definitely ways to make a buyer’s market work for you, even if you’re the one selling your home.

Check back in a couple of days to learn what you can do to maximize the purchase price of your home and get into that new home of your dreams.  And, remember, its always smart to talk to a Realtor when looking to buy or sell a home.

Thank you for visiting the Exit Realty Mountain West Blog.  Please visit out website www.exitutah.com.  Our goal is to provide a meaningful blog containing general information as well as information about real estate in Utah.  If you would like to add a blog just send us an email to blogs@exitutah.com or if you have a topic that interests you and we will try someone that will blog on that subject.