You may have received your tax notice in the mail, if not it is coming. If you believe that your assessment is too high you can appeal the assessed value.  If you need comparable sales to help you with your appeal please FILL IN THIS FORM. Because there are a lot of people appealing be patient, we will get them to you in about 2-3 business days.

Salt Lake County

Here is the information on how to appeal your tax in Salt Lake County. Other counties should have a similar process. I can help you with comparable sales info.

Here is the form that is used.

If the appeal is not postmarked or received in person by September 15, 2008, your appeal will be considered “late” and may not be accepted.

Provide all details such as style, quality, size, age, location, land area, etc. The more comparable the sales are to the appealed property the greater the consideration they will be given. If possible provide comparable sales evidence in a listing full print format.

Davis County

I have searched Davis County’s web site for a place to appeal and the only thing I found was this brief statement that said “if you don’t agree with your value, please come see us and/or file an appeal”. There is no mention (that I can see) on how to do that.  The forms for Salt Lake and Tooele are very similar, so I would gather the same information. I am not sure what the deadline for Davis County is.

Utah County

They are a little more helpful than Davis County but not much. Here is some Information on Utah County Property Taxes. I am not sure what the deadline for Utah County is.

Tooele

Here is the information to appeal your taxes in Tooele County. The form and the process is pretty much the same as the others.  The forms for Salt Lake and Tooele are very similar, so I would gather the same information.  I am not sure what the deadline for Tooele County is.

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I usually don’t write about a particular listing on this site, but I just had to share this. New Construction in Salt Lake County for $200,000. I think it is news.

New Construction

Rambeler

2,120 Sq Ft

3 Bedroom 2 Baths

Master BedroomFull Basement Framed and Stubbed

2 Car Garage

3044 Spencer Aver Magna Utah 84044

For More Details Call Rob Aubrey 801-694-4762

Photos are from a previous model.

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I wanted to touch base on the H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008.

The bill is over 600 pages I am going to point out a couple of highlights.

Loan Limits

Both FHA and Conventional loan limits are now going to cap out at $625,000. These caps are based on formulas that are tied to local area median price ranges.

Another FHA item, the minimum down payment is going to increase to 3.5% up from 3%.

First Time Homebuyer Tax Credit

A $7500 tax credit that would be would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).

First-time homebuyer tax credit chart

Frequently asked questions about the first-time homebuyer tax credit

Down Payment Assistance Programs

Only those programs that are funded directly from the seller or other party to the transaction are prohibited. Down payment assistance from family members, government programs, or charities that are not seller-funded is still permitted.

The prohibition goes into effect October 1, 2008.

Salt Lake County Grants

Currently there are grant for various cities of Salt Lake County, some are as high as $10,000

Contact me today to find out more information. Rob@Aubrey.net or call 801-694-4762

To search all listed homes by all brokers go to www.MoreUtahListings.com

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Stats for the first half of the year

Chart of Home Sales for Salt Lake County from January 1st to June 30th 2008. More than half of all the sales have been in the $160,000 - 300,000 Price range with 56.4%. This segment of the market seems to hang tough. The $500,000 and above has contributed just under 7% of the sales for the first half of the year. The $300,000 - 500,000 range was just a hair under 21% 

I know I have some fans that are going to claim that I am spinning the numbers. They are what they are.

So the big question is. When is the high end stuff at the South end of the valley going to come tumbling down? Draper has 80 homes that are a million plus, 233 Active listings that range from $500,000 - 1,000,000.

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SPOTTING OPPORTUNITY

IN TODAY’S MARKET

Why trading up makes sense

If home prices dropped by 5%, here’s what it

could look like if you decided to trade up.

The smaller loss at sale will be compensated by greater savings at

purchase, resulting in a significant net gain.

A BUYER’S MARKET IS A TRADING UP MARKET!

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Salt Lake MLS Map Searching 

Finally the long anticipated arrival of Salt Lake City Map Searching.

This is something we have been working on getting for quite some time.

Let’s examine what Salt Lake City Map Searching really is.

The landing page will be a map of most of Salt Lake County and will show you the amount of properties that are for sale in that screen.

In the upper left corner you have map control options Zoom or Move. When you select Zoom you can draw a box and the map will display the available properties in the new screen. The second option is move, when you select this option you can use the hand to move the map around and get new results. Naturally you have the zoom in and out selections on the left side of the map.

Also in the upper right corner of the amp you can change the view to Street, Hybrid or Aerial View.

Now below the map is the ability to refine the property search. You can choose property type such as Single Family, Condo… You have the option to select more than one. By not selecting any, you have selected all by default. Then you can move over to price range where you have minimum and maximum. Then other choices such as bedroom and bathroom counts, style, year built range and more …

Once you have refined your search you can Go to Search Results to view your choice in a quick report or can save your search. When you select save this search you can create an account, this will take you to a registry window.

Once you are registered, you have the option to receive an email of NEW OR UPDATED listings.

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Declaration of Independence

Here is the complete text of the Declaration of Independence.
The original spelling and capitalization have been retained.

(Adopted by Congress on July 4, 1776)

The Unanimous Declaration
of the Thirteen United States of America

When, in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness. Prudence, indeed, will dictate that governments long established should not be changed for light and transient causes; and accordingly all experience hath shown that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same object evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security. –Such has been the patient sufferance of these colonies; and such is now the necessity which constrains them to alter their former systems of government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world.

To continue reading

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Here are some graphs for the Salt Lake County Real Estate Market. They are the number of homes sold per month, the total volume and the average home price. This is NOT a comparison to the boom. I find it interesting all the negative press compares everything to the boom days. The boom days were not normal. It was a run up just like the tech stocks in the late 90’s. All speculative and no sound business models.

Does this mean all the worries are behind us? Absolutely not. We still have the McMansions in Draper and all the inventory in the South West section, places like Daybreak and the surrounding areas.

I am not suggesting we are in any kind of sellers market, however buyers are realizing that there are deals out there. If you look in the stable areas you can most certainly find a good deal and interest rates are still favorable. I know there is all this talk about the lending market has crumbled. Again the comparison is to when banks lent money without questions. Well to keep comparing to something that didn’t work is silly.

There are good loan programs out there with little down and low interest rates. Mind you will have to answer some basic questions like. Where do you work? How much do you make? How much debt do you have?

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Pricing Your Salt Lake Home

The most common method for pricing a home is the CMA or the Comparative Market Analysis, Comparing the subject property to the homes that have recently sold.

Although an official appraisal can go back 6 months, I don’t like to go more than 3-4 months.

Once I have gathered the comparable sold data you will notice a range. I will then take the high and the low and then I will establish a center line. Then based on the features and condition of the subject I determine where on the center line you fall.

Then I look at the active listings in the area to see what the competition is. You will quickly see where the “REAL” competition is. You will see homes listed and think, they are never going to sell at that price (you’re right). After a little studying you will identify the competition and then “If You Want To Sell” you have to be the better deal.

Now this is not a one size fits all, it is more of a guiding principal.

I see a lot of agents use CMA software that uses adjustments and then establishes averages which is not wrong. The problem with that method is that the closed properties are one part of the equation. The software approach is to scientific and appraising is an art and not a science.

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