FOR SALE: 2 Bed 1 Bath Short Sale

This 2 bed 1 bath home is approximately 975 SQFT and built in 1938.  Located in a quiet neighborhood at 2940 Fowler Ave in Ogden, Utah.  The interior condition is average.  The bathroom is in good shape but the kitchen could use some TLC. Original list price $39,900.  Call or email for price updates. This is a short sale so let me know what questions you have. Here is a video walk through of the property:

FOR SALE: Quaint Turn-of-the-Century Cottage

For those of you looking for an affordable 3 bed 1 bath home with old-time charm, I present 2010 Monroe Blvd. in Ogden, Utah for your consideration.  The home is 1180 SQFT with 3 Bedrooms and 1 Bath.  The home has an updated kitchen with granite counter tops and stainless steel appliances.  The master bedroom has a large walk-in closet with windows.  Nice finishes in this vintage home.





If you would like to view this property or want pricing information, call or send me an email.

Ogden Gets Top Ranking In Foreclosure Recovery

In exciting news from Forbes.com, the Ogden-Clearfield metro areas rank 3rd best in the nation for foreclosure recovery behind Austin, TX and Harrisburg, PA. 

One more reason to have confidence in the northern Utah real estate market.

Historic 25th Street: Crowley's Gallery and Cafe

~GRAND OPENING ~

April 1st, 2010

115 Historic 25th Street

Ogden, UT

4:00pm - 9:00pm

For those of you who love art and antiques, I highly recommend you come down Friday for Ogden's Friday Art Stroll and check out the new cafe.  The gallery has amazing work on exhibit.

REO HOMES: Asset Manager Malfunction

I recently closed a bank owned property in Ogden.  I am glad that the transaction finally came to a conclusion.  This one almost made me bald and gray.

The typical real estate transaction takes 30 to 40 days to complete in today's market.  Unfortunately, the transaction I am speaking of today took us 91 days.  Here is a break down of the chain of events (click to enlarge):

Our first sign of trouble is that the seller took nearly two weeks to return a contract to us with signatures on it.  This wouldn't be to big of a problem if the transaction was cash but in our instance it was a financed offer...by an owner-occupant no less.  We couldn't start working on the loan until we received the contract from the seller.

Then came the puzzling delays in receiving our transaction-dependent Own In Ogden paperwork back from the seller.  The process normally takes a day or two to submit paperwork and get it back from the other party.  In our case, we were delayed a total of 33 days (yes, over one whole month) waiting for the seller to sign and return paperwork so we could move to the next step.

My clients had expected a traditional time frame and had notified their landlord of their intent to vacate.  With these delays they had to renegotiate their lease terms and live out of boxes for two months.

The lesson to take away from this is that bank owned properties are a fantastic bargain but be prepared to wade through a bureaucratic swamp to get where you want to be. Caveat Emptor (Buyer Beware).

JUST SOLD! Ogden Craftsman Bungalow

I just sold this very cool craftsman bungalow at 856 Kershaw St. to a fine family relocating from Logan to Ogden.  Congrats to the Hardmans and welcome back to Ogden. 

This 2100 SQFT, 4 bed, 2 bath home was a bank owned property listed for $89,900 in November 2010. A month later they lowered the price to $82,900.  We looked at the property at that time and offered $76,000 while asking for $2,800 in closing costs plus any FHA repairs.  The seller balked and we ultimately came to an agreement at $83,000 with the seller paying the buyer's closing costs while also participating in the Own In Ogden Program and agreeing to make repairs as required. 

The house has some great bones and will restore beautifully.  It also has a vast unfinished basement that is prime for extra living space. It's going to be a great project and I look forward to seeing their refinished craftsman home.

WWW.OGDENBUSINESS.COM

An article in the Standard Examiner today announced the creation of new website about development and re-development going on in Ogden.

www.OgdenBusiness.com

Be sure to check it out.  Lots of great things going on in Ogden.

Own In Ogden Grant Changes Coming...

One of my responsibilities is to serve as the Chair of the Citizens Advisory Committee that assists the Community Development Department of Ogden City in reviewing its plans for HUD block grants and other resources.

One of the programs that is overseen by this committee is the Own In Ogden Program.  This is a very popular program for home buyers that provides up to $5,000 in grant funds to pay for closing costs or down payments for homes located in the historic neighborhoods just east of the Downtown commercial center of town (my neighborhood).


Today we voted to make a change to the program.  The way things operate currently, the $5,000 grant is placed as a zero-payment lien on the buyers home and forgiven $500 at a year with the last $3,000 being waived in the last year of the five year period. Any balance remaining when the home is sold before that five year period ends is to be paid back to the city.

Today we made the change that the grant will not be forgiven over a five year period but that it should remain in place and payable back to the city upon resale of the property.  The city is anticipating a reduction in federal grant money in the future this change will allow the city to recoup the funds to assist other homebuyers in the future.  I agree with this change because it is no longer free money from the taxpayers to be given away but now becomes a loan that is repayable and perpetuates the program indefinitely for future buyers.  An ecclesiastical organization I am familiar with sponsored a Perpetual Immigration Fund, a Perpetual Education Fund, and now we have a government sponsored "Perpetual Home Buyers Fund".  I think it makes sense.  Look for these new changes to take place July 1, 2011.

War Zone: Buying A Home In Libya

With all the news about the Libyan civil war and our apparent choosing of sides in that conflict, I thought it might be time to take a look at what home prices are doing in that Mediterranean country.  As it turns out, there is an MLS of sorts for Libya called Al-Daleal.  But, you have to know your metric system to know what you are buying.

I took a shining to this home:

This is a 3 bed 3 bath home in Tripoli.  It is 260 square meters (2300 SQFT to us Americans) and sits on a lot that is about 490 square meters (or .09 acres in our reckoning).  You can purchase this sanctuary from the worries of the world for 325,000 Libyan dinar or $260,000 American.  Of course, right now you not only get the best of living in the Capitol of Libya but you are also treated now to a daily fireworks show courtesy of the United State Air Force.

If the war becomes too bloody, then house prices will likely go down, but, if a large number of homes are destroyed, then house prices (of those still standing) will likely go up. In the off chance that you need some guidance, my professional advise is to wait before speculating in the Libyan real estate market.  

Longevity: 1,340 Days-on-Market and counting...

I was noodling around on the MLS today and I was seeing some homes for sale that had been listed for quite a long time.  I then wondered: What property for sale now has the longest listing time in Weber County?

Here is your answer:

This property was listed in July of 2007!  Talk about a patient seller.  The listing has been with the same agent the entire time...all 1,340 days. 

However, the all time longest days-on-market time for the state of Utah goes to an owner of a mobile home in Manila, Utah.

This home has been on the market 2,035 days.  Listed in June 2005! 

Hats off to these patient sellers and their long-suffering agents.