Is there a sense of urgency I am ignoring in the market?  Should I continue to wait and see?  As someone in the market considering real estate, these might be questions or thoughts you have. If you ask me, NOW is a great time to buy!  Of course, I’m an agent, what else would I say? But really, I can back it up!

Consider the interest rates alone and see if they are not enough of a motivator.  Currently, mortgages have never been lower.  Interest rates are at 4% or lower for 30 year fixed loans and if you venture into the 15 year mortgage, your rate would be 3.5% or lower!  That means for a conventional 30 year fixed loan, the money for Principle and Interest will cost you $477/$100,000 borrowed.  That drops to $449 for a rate of 3.5%!  How long will these rates be around? No one really knows for sure but they won’t stay around forever.

For me, anything below 7% is a phenomenal rate!  I bought my first home in 1994 at 9% and was ecstatic when I refinanced at 7%.  I recently purchased at 5% and am thinking I need to refinance!

Consider if rates were to go back up to 7%, that same $100,000 would cost $665/month.  Almost $200 per month more!  Today’s rates create an annual savings of $2,256 annually per $100,000 borrowed. That’s not chump change!

Even though real estate is still shaky in some parts of the country, Park City and has seen some great movement in the right direction. Getting into something you can afford, and will hold its value has always been sound advice. Additionally, real property is a great hedge against poor performing stocks and inflation. The right investment is sure to appreciate over time. One last thing to consider, if you wait too long and interest rates go up, you might be priced out of the market.

For more of my thoughts about Park’s Edge and real estate in general click here.

I have been given a good many excuses as to why people haven’t yet stopped by and checked out the amazing floor plans and incredible energy efficient design that Park’s Edge has to offer.

Indeed, you can do loads of research on Park’s Edge awesome website, but if you think the website does this place justice you would be mistaken.  To come to know all there is to know about Parks Edge, a visit is in order! Trust me, seeing the way we build and the product we offer first hand, will blow you away.  Not just that, but the new clubhouse and 15-acre park simply have to be seen to be appreciated.

Common comments we get after a visit are, “Park’s Edge is much closer to Park City’s downtown than we thought”, (5 minute drive), “the quality of construction is top notch”, and “the value/cost ratio is unparalleled for the Park City area.”

So, take some time and stop by.  I promise I won’t bite!  If perchance Parks Edge isn’t quite a fit, I would be happy to introduce you to our newest member of the family, Rustler.  Rustler is the newest twin-home community to Hideout Canyon, and features single floor living. Not to mention, because Rustler is a part of Hideout, the views are simply breathtaking.

See you soon!

Today, Sept 8th from 6-9 pm, we are having a party to celebrate the grand opening of the pool and hot tub! What can you expect? Free food and drinks, free entertainment from the live Utah cover band Monrovia, free stuff and awesome giveaways.

Come join us for a night of fun!

The USDA’s Rural Housing is a great program. Even in this climate of tight credit, this program still provides the ability to purchase a home with no money down. Unfortunately, recently the USDA announced it will be changing the fee structure for this type of loan.

Originally, a 3% fee was required to insure this type of loan.  However, in an apparent effort to increase revenues, Rural Housing is now following in FHA’s footsteps with a recurring fee.  FHA calls it mortgage insurance; USDA calls it a recurring fee.

So how does USDA’s latest move change this loan type? For starters, monthly payments will be much higher.  USDA says the new and cheaper up-front fee of 2% will make the loan easier to process.  However, an additional 0.3 % fee will also be added to the loan for the life of the loan.

For example, let’s say your loan is for $200,000.00. You will have an annual fee of $600 that will be divided equally each month.  So, your loan payment would increase by $50 per month.

There is good news though.  This won’t go into effect until October 1^st, 2011. The downside is you will have to move quickly if you want to get a Rural Housing loan before this goes into effect. Something else to remember is that if your lender has completed the underwriting, USDA still has to sign off on it BEFORE the 1 October deadline! Good luck and hurry up!

For more of my ideas about real estate and Park’s Edge check out my other posts!

Lindsey M. does it once again! #21 was indeed the Park City High School. Here is PCPC #22. Yes, the pic has been used once before but no one ever guessed it so we reserve the right to rehash! Here we go.

Rules & stakes:

• You have to be 18 years of age
• You have to guess where the photo is in Park City (comment/guess on the blog below the picture) and be the first one to get it right.
• To claim your $15 gift card to Whole Foods just drop by the Park’s Edge model!

Guess away!

Congrats to Lisa A. for guessing PCPC #20 correct! Let’s see how you all can do on #21.

Rules & stakes:

• You have to be 18 years of age
• You have to guess where the photo is in Park City (comment/guess on the blog below the picture) and be the first one to get it right.
• To claim your $15 gift card to Whole Foods just drop by the Park’s Edge model!

Guess away!

As can be seen from the pictures, building D is underway. Footings are in and at this point, foundation walls are almost complete! With the addition of the change in season, things are getting exciting at Park’s Edge!

To find out why Park’s Edge has some of the greenest and energy efficient real estate Park City has to offer, stop by for a visit!

J. Richards does it again on Park City Photo Challenge #19!  Here we go for #20!

Rules & stakes:

• You have to be 18 years of age
• You have to guess where the photo is in Park City (comment/guess on the blog below the picture) and be the first one to get it right.
• To claim your $15 gift card to Whole Foods just drop by the Park’s Edge model!

Guess away!

Looks like J. Chaffee of Park’s Edge pulled it off on PCPC #18! PCPC #19 is here. Who can guess it?

Rules & stakes:

• You have to be 18 years of age
• You have to guess where the photo is in Park City (comment/guess on the blog below the picture) and be the first one to get it right.
• To claim your $15 gift card to Whole Foods just drop by the Park’s Edge model!

Guess away!

Wow, we thought PCPC #17 was going to be a challenge but apparently not! Lindsey M. comes through again! Let’s see who can guess PCPC #18.

Rules & stakes:

• You have to be 18 years of age
• You have to guess where the photo is in Park City (comment/guess on the blog below the picture) and be the first one to get it right.
• To claim your $15 gift card to Whole Foods just drop by the Park’s Edge model!

Guess away!