Uncategorized December 4, 2013

SunCrest (Draper City) Snow Removal Info

Snow Removal

Overview of Services:
Snow removal crews are prepared to remove snow from November 1st through May 30th, 24 hours a day, if necessary.  Crews will be called out after two inches of snow has accumulated on the roads.  They will strive to achieve bare pavement on all first priority roads within 24 hours following a storm, and to clear all remaining streets within 72 hours following a storm.

Snow Plow Priorities:

  • Priority 1:  High traffic roadways, school zones, hills, arterial and collector roads.
    • Priority 2:  Streets through residential subdivisions, including roads that connect back to a collector street.
    • Priority 3:  Cul-de-sacs and dead-end streets (allow 72 hours following a storm.
    • Private lanes and private streets are not plowed by Draper City.

    During ongoing, severe storms, main streets will take precedence for safety reasons.  Once the storm begins to subside, crews will begin to move on to inner subdivision streets and cul-de-sacs.

    Winter Parking:
    To facilitate snow removal progress, residents are not allowed to park a vehicle or trailer on the street from November 15th through April 15th, between the hours of 1:00 am and 6:00 am

    ***Information courtesy of Draper City. http://ut-drapercity.civicplus.com/index.aspx?nid=366 ***

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Click on the image to enlarge

    Uncategorized September 3, 2013

    SunCrest Market Update – August

    SunCrest August 2, 2013

    SunCrest Market Update – July

    Uncategorized July 1, 2013

    SunCrest Market Update – June

    SunCrest March 8, 2013

    SunCrest Market Update – February

    Uncategorized February 27, 2013

    Big Changes to FHA Loans

     

    The 3.5% down payment on FHA loans could be more expensive for buyers than expected. Beginning April 1, 2013, the mortgage insurance premium will go up by .1% to 1.35% which may not even be noticeable to most would-be homeowners.
     
    The staggering increase will occur on 6/3/2013 when FHA’s policy on the duration of the required mortgage insurance will be increased for the life of the mortgage. It basically doubles the amount of total MIP if the loan is paid to term.
     
    (Regarding the current MIP duration: When the unpaid balance reaches 78% LTV of original purchase, the MIP can be released. In any event though, the minimum time must be five years.) 
     
    Currently, the MIP is required for approximately 9 years 9 months with normal amortization. The new program would require the MIP for the life of the loan. In this example, the initial monthly MIP is $196.88 which decreases based on amortization.
     
    There are buyers that qualify on income and credit who may not have the necessary additional down payment required for 80% and 90% conventional loans. The 3.5% FHA program has provided a great vehicle to get into a home with a minimum amount of cash.
     
    For homeowners that expect to stay in their home for ten years or less, the new changes might not have much financial impact. Homeowners who expect to be in their home long term can refinance with a conventional loan without mortgage insurance once the equity has increased due to amortization and appreciation.
     
    For buyers to avoid these increases, they will need to act now to get the FHA commitment issued prior to these change dates.
     
    Source: http://www.kcmblog.com/2013/02/19/fha-more-expensive-than-expected/

    Continue reading

    SunCrest January 25, 2013

    SunCrest Market Update – January

    SunCrest December 18, 2012

    SunCrest Market Update – November

    Uncategorized November 29, 2012

    Cost of Waiting a Year

    Thinking about waiting a year to buy? May want to rethink, it could cost you. The above graphic shows both the projected appreciation* and projected interest rate*. What would you do with an extra $127.87 a month ($1,546 a year!)? 

     

    *nar.com, marketwatch.com

    Uncategorized November 7, 2012

    Where are mortgage rates headed?

    This is one of the most common questions folks ask me. Where are rates going? What will happen after the election? What will happen after the holidays? What will happen next year? Should I wait to see if they go lower? Should I buy now before the go higher? 

     

    Below is a fantastic article I'd like to share with you folks. 

     

     The best people we can go to on this issue are the people who deal with it on a daily basis –The Mortgage Bankers Association (MBA). Here is what was reported by MarketWatch in a recent article:

    “After reaching record lows in 2012, mortgage rates are expected to creep up slowly in the year ahead, the Mortgage Bankers Association predicted.

    Rates on the 30-year fixed-rate mortgage are expected to average 3.8% in the fourth quarter of 2012, rising to 3.9% in the first quarter of 2013 and eventually rising to an average 4.4% by the fourth quarter of next year.”

    If the MBA is correct, mortgage interest rates could inch up almost a full percentage point in the next year. Tomorrow, we will explain what that means to a potential buyer.

    http://www.kcmblog.com/2012/11/06/where-are-mortgage-rates-headed-2/