Posts Categorized: Homeowner Info

How Interest Rates Affect Purchasing Power

It’s no secret that interest rates impact a home buyer’s purchasing power. But how great an effect, exactly, do interest rates have? Take this example. Let’s say that you qualify for a Principal & Interest (P&I) monthly payment of $1,200—not including taxes, homeowner’s insurance, and mortgage insurance. The purchase details are: $295,000 sales price $1,200… Read more »

Collections Magazine I Utah’s Luxury Real Estate Magazine Winter 2017

Unveiled today. I am proud to reveal our newest edition of the Collections Magazine for Summit Sotheby’s International Realty. It has been revamped throughout with a new look and feel, including a beautiful fashion editorial. It is truly our best edition yet thanks to our unmatched marketing team. Look for my listings on pages 58,… Read more »

FHFA releases new conforming loan limits

For the first time since 2006, the Federal Housing Finance Agency (FHFA) has announced that the base conforming loan limits will increase from $417,000 to $424,100 for 2017. The new high balance conforming limit will increase from $600,300 to $636,150 (150% of $424,100). These are for unit properties in the contiguous United States. In the… Read more »

Thanksgiving in Park City

Stay Out of the Kitchen This Thanksgiving in Park City For many aspiring Food Network wannabes, Thanksgiving is a time to show off culinary skills, crafting the newest spaghetti squash incarnation or rolling pie dough from scratch. If your skills are more in line with the Pillsbury Doughboy and “cranberry sauce with the can marks still showing,”… Read more »

Top 10 Loan Approval Taboos

Make sure nothing gets in the way of achieving your home financing goals. Some loan approval taboos may seem obvious, but others not so much. Check out this list to make sure that you avoid the top 10 loan approval taboos during the process of buying a new home. Co-sign on any debt with relatives or friends…. Read more »

Roadmap to Optimizing Credit Score

Everyone wants a great score but most don’t understand the ins and outs of optimizing credit score. Knowing the elements of a credit score and implementing a few basic ideas can give you a 40-100-point boost. There are three credit bureaus: TransUnion, Equifax, and Experian. They use a different matrix to calculate your credit score depending… Read more »

Property Selling Services

The Summit Sotheby’s International Realty Difference To those who value the unique, Summit Sotheby’s International Realty is the local real estate provider that offers unrivaled access to qualified people and distinctive properties around the world. When you list your property with Summit Sotheby’s International Realty, you get a true international brand that can offer you… Read more »

Summit County Property Tax Notices and How to Appeal

Friends of mine bought a home in Pinebrook, relocating from Salt Lake so that their children could attend Park City schools. The very next month, they received an extraordinarily high tax bill (about double what they expected). After a call to the Summit County Assessor’s Office, they learned a clerical error had put their permanent address… Read more »

Zestimate Accuracy: Why did Zillow CEO’s home sell for 40% less than its Zestimate?

Home owners across the country love to question their Zestimate accuracy. When it comes time to sell, the estimated market value calculated by Zillow can be the jumping off point for an interesting discussion between real estate agents and sellers. Spencer Rascoff, CEO of the Seattle-based real estate media website, sold a home in the city’s… Read more »

March 2016 Park City Real Estate Market Update

Summit Sotheby’s International Realty has released information about real estate markets in the Greater Park City area for March 2016. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale. Greater Park City Area – Single Family Homes: Active inventory was down 11% from 2015… Read more »