My New Blog

With the restrictions to loans, loan limits, down payments and a variety of other changes combined with a declining market, there has been some difficulty for first time home buyers to buy homes (along with the rest of the market).  While the new program doesn't focus on all home buyers which provides an $8,000 tax credit to first time home buyers (which is more than a tax credit it could be a refund - read the page on our website), the incentive will help buyers at the end of the day. 

This is such a big announcement because is impacts not only first time home buyers, but many homeowners.  The market has been slow but the market is ripe if you are purchasing a new property.  There really hasn't been a better time to buy with low prices, low rates, incentives and now a new FHA loan limit which also has an impact on all of us.

There were new restrictions last year which caused the market to tighten.  One of those restrictions was the change to FHA Loan Limits.  Just this week the limits for Utah and the rest of the country were reversed to 2008 Loan Limits for FHA loans.  An example is Utah County is now over $323,000.  FHA Loans offer incredible opportunities to purchase a home.  If you want to purchase a home, then an FHA Loan may be the best way to go.  Talk to our partner, Corey Shelley, over at First Colony Mortgage for additional details - his phone number is 801-787-1380.  You will be glad you did.

We are here to help you buy or sell property.  If you are buying, there are great deals out there for you.  We will send you a list and let's start looking.  Have a great March (which is just around the corner and hopefully along with spring). 

Kellie Little  Owner, CapStone Real Estate

You have probably noticed that the prevalent media out there has been very negative on the real estate and financial markets over the past 6-9 months.  What the media broadcasts tends to be what the public perceives to be fact.  Often the news “creates “ the public’s reaction to any given situation.  I appreciate our media sources, but sometimes get frustrated by their portrayal of the real estate market.  Their negative descriptions often become a “self-fulfilling prophecy” because they cause hesitancy or withdrawal from the market.  This has been the case for the past year or so.  However, there seems to be a little change in the tide, or in the direction the media is covering our market place.  We have been paying attention to programs and publications and we are seeing them change their tune a little bit.  For instance, Jim Cramer, from the stock analysis program “Mad Money” recently became very positive about involvement in real estate.  He suggested that if you don’t get involved in buying real estate, and as much of it as you can, between now and June of 2009 you will have missed the opportunity of buying at the bottom of the market. Check out this link http://www.cnbc.com/id/15840232?video=967866479.  I have also seen guests on “Good Morning America” and the “Today” show expressing similar sentiments.  We have also seen economists at the regional and local levels expressing the same thoughts.

These are all great thoughts for helping turn perceptions regarding our market.  My thoughts remain the same as always, real estate is a great investment.  If you have to sell in this market you also get to buy in this market.  Our market place has changed from a sellers market to a buyers market, but what a great time to be a buyer.  So get out there and buy.

Welcome to our Real Estate blog. This is an exciting new area of technology for us. I am eager to present my thoughts and ideas in hopes that they will benefit someone, somewhere, somehow in their real estate and entrepreneurial endeavors. The world wide blogosphere is an exciting area of information exchange. I believe the easy flow of information is a means to better commerce. I look forward to facilitating some of that exchange thru this avenue of communication.

I have noticed a common theme in current conversation regarding the economy and the housing sector in particular. Most communication seems to be very negative. In light of the current mortgage and financial institution bailouts it is very understandable. I recognize adjustments and corrections in our markets need to happen. However, there is a lot of positive news that I would choose to concentrate my study and education on. I think we have some great things to share about our local and state market in particular. Because of that perspective, I would like to share with you in this first blog posting a very exciting bit of news out of the Milken Institute in California. They do an annual study of the best performing cities in the country. Congratulations to the Provo-Orem area who ranked #1 in the study. Salt Lake City also ranked in the study, they came in at #3. Please view the entire report at http://www.milkeninstitute.org/publications/publications.taf?function=detail&ID=38801171&cat=resrep. That kind of news doesn’t get the “air time” that the negative stuff does, but it should. Share the article with your friends and family and let them know what a great place we live in.

Lerron Little

CapStone Real Estate

Broker/Owner

801-592-4320 Cell

lerron@capstoneutah.com

Hello Everyone.

This is an interesting time in the real estate industry and also for Utah County.  There seems to be conflicting messages surrounding the sale and purchase of properties that leave big question marks.  We may shed some light on whether to buy, whether to sell or whether to run.  To provide some insight, we are going to post information including statistics, trends and important events on our new Blog.  The Blog will be managed by Lerron Little, the broker and owner of CapStone Real Estate.

Most of our clients and friends may not be aware that Lerron received his Bachelors Degree in Economics, has 15 years of real estate experience, has recently served as the president of the Utah County Association of REALTORS and is the upcoming President Elect/President of the Utah Association of REALTORS. 

With all the information that Lerron receives and with his experience, we want to share it with you.  We also want to hear from you.  Please let us know what you think of the new format. And of course if you need anything regarding real estate, please contact us.   We are results oriented REALTORS that use our combined 25+ years of experience to help buyers and sellers.  We list to sell and work with buyers too.  We want to help people in Utah County acheive their real estate dreams.

We look forward to hearing from you.

Kellie Little, Owner/REALTOR

Capstone Real Estate : 801.592.4420 : 801.437.4555 kellie@capstoneutah.com