July Newsletter
Justin Lee
Heritage Real Estate
801 706-2422
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July 2010
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Inside This Issue
Extended Tax Credit 1
Economic News 2
Family Vacation 3
Utah Economy
| June 2010 | |
| Unemployment Rate | |
| Utah: 7.2% | U.S.: 9.7% |
| Year-Over GDP Growth | |
| Utah: *% | U.S.: 2.9% |
*I lost my source for this so if you have one, please let me know.
Justin Lee’s Clients and Friends
NEWSLETTER
The Good News
I am happy to report that Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010. This is a huge win for REALTORS® and homebuyers, and NAR worked closely with members of Congress to make it happen.
The extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law.
So what does it all mean? If you managed to get a home under contract, but couldn’t close in time, now you have a couple extra months to close. If you are hoping to jump on that bandwagon now and find a home…the wagon is past. You had to already be under contract by April 30…this whole extension is to give those that were already under contract the time they needed to close.
So, is all hope lost? Not at all. Prices are GREAT for buyers right now. If you or someone you know is looking for a good deal, give me a call. They are definitely out there. Homes that normally go for $85-$100/sq. ft are now common around $55/sq. ft. I’m not talking about trashed, bank-owned properties either. These are well cared for homes.
New Addition!
No, we don’t have a new baby. Melayna says 6 is enough; some days it’s more than enough.
I am constantly looking for ways to provide my clients with a higher level of service. Recently I came across a deal on a moving truck that I couldn’t pass up. It is a work in progress (I did mention that it was a deal, right?) but has been great for helping my clients get moved out of their sold homes and into their new homes.
So tell your family and friends that when they buy or sell with me, they move for free! Kind of catchy isn’t it?
I am working on some graphics to put on the side of the van. When they are ready, I will ask you to put in your vote on which picture will look best on the van - and no, it won’t likely be a picture of me; I am just not that photogenic (see top-left).
Word of the Month:
quagmire • \KWAG-mīr\ noun
1: A swampy or soggy area of ground
2: A perilous, mixed up, or hopeless situation
Ex. The paperwork got lost in a quagmire of beaurocracy.
Quotes to Live by:
“If things seem under control, you are just not going fast enough.”
-Mario Andretti
Weird Laws
Tennessee-
Any person who participates in a duel may not hold public office.
A Christian parent may not require their child to remove trash from the highway on Easter Day.
Imagine all the candy wrappers on the road Easter morning!
The legal definition of a dumb animal includes “every living creature.”
Skunks may not be carried into the state.
Fun Fact
There is not “Ctrl” key on Chuck Norris’ computer. He doesn’t need one since he is always in control.
Market Update
According to the Wasatch Regional MLS, the number of properties sold in Salt Lake County for the month of June 2010 was 796. The average sales price for June was $232,000. Days on the Market for June were 65.
Unemployment in Utah
An unemployment report released Wednesday depicted improving conditions during May in about two-thirds of the country’s 382 largest metropolitan areas, but Utah’s five population centers were not among them.
But when national unemployment numbers for June come out Friday, they are unlikely to maintain that upbeat measure of economic improvement. To the contrary, they are expected to show that the country had a net loss of jobs last month for the first time in half a year.
To complicate matters, Friday’s bottom line may not be an accurate barometer of where the nation stands in job production. That’s because June’s number will include the end of about 250,000 temporary Census jobs. For better insight into what is going on with the economy, analysts will look instead at how many net jobs private employers created….
Analysts predict private businesses added 112,000 jobs in June, according to a survey by Thomson Reuters. That would be a healthy rebound from May’s 41,000 gain.
But it’s far from enough to signal a roaring recovery or rapidly reduce the unemployment rate, now at 9.7 percent nationally and 7.2 percent in Utah. A net gain of around 200,000 jobs a month is needed to reduce the national rate.
Mark Knold, chief economist for the Utah Department of Workforce Services, predicted the two sets of employment numbers will show that in Utah “the depths of the job losses are behind us and we’re starting to get some job growth to outpace the losses.”
“But it’s going to take some time before the rate of job losses shows itself at zero percent,” he added.
Read the whole story at: sltrib.com/sltrib/money/49856666-79/unemployment-percent-areas-jobs.html.csp
MOVIE TRIVIA: Be the first person to call me with the answer to this trivia question, and receive a gift card worth $10!
Q: Name the movie where “Superman” falls in love with Dr. Quinn, Medicine Woman and travels through time to meet her.
(Not multiple choice because it will totally give it away!)
CALL ME NOW AT 801 706-2422
P.S. Don’t cheat by looking it up - I will know if you did J
Do you know anyone behind on their mortgage?
Maybe they have had a change in employment or are just struggling to make ends meet. They still have options. I am happy to tell them about what options they have and answer questions about Loan Modification, Short Sales, Notice of Default, and Foreclosure.
Please have them call me or call me with their number so I can follow up.
Being a helpful neighbor now can protect your home’s value tomorrow.
Justin Lee - 801-706-2422
Easy Recipe
It’s time for the party to start and you realize you are out of salsa! Don’t panic- here’s an easy recipe:
1 can stewed or diced tomatoes
1 can chile peppers or 1 fresh jalepeño (diced)
½ small onion
1 clove garlic (optional)
½ ripe avocado (optional)
Add ½ of the can of tomatoes and the onion, garlic, and fresh peppers into a blender and blend on “high” until the big chunks are gone. Add the remaining ingredients and blend for another 3-5 seconds.
Hint: It works best if all items have been cut into a maximum of 1 inch cubes before going into the blender.
Summer Vacation - Is it Really a Vacation?
Are your family road trips relaxed rides with plenty of breaks? Or do you do car travel like a space capsule, hurtling through vast distances without a stop? Most of us muddle through, somewhere in between. Here are some “Magic P’s” to make the car travel with kids slightly more tolerable.
Pace: try to allow enough time for rest stops. Two hours of driving time, then a break, makes a good pattern for car travel with young children. “Rush” is a four-letter word!
Pack: a special backpack or bag for each child, with crayons, books, toys, activity sets, stickers, handheld games– including some new wrapped surprises for little kids. (But don’t give out all the loot at once!)
Pint-sized board-games: can be fun. Clue, Sorry, and Trouble are oldies but goodies. And a tray– or “travel desk” suspended from the back of the front seat– is handy, for any activity.
Pack: lots of snacks, such as fruit leathers, crackers, juice packs, treats… Also pack: a small cooler, or insulated bag, for cold drinks; plastic cups; bandaids, a dishtowel; frisbee and ball for rest-stops; and baby-wipes no matter how old your kids are.
Play: stories on audiobooks: they make the miles fly by. Play a story for the whole family on the car stereo system. Visit your local library to get stories on CD’s (maybe transfer to iPod), or use a download service like Audible.com.
Playrooms: Burger King and MacDonalds have great playrooms on major highways– a great boon for family car travel. Let the kids burn off energy while you order their food “to go”, to eat later in the backseat.
Playgrounds: every school and most parks have them! Little limbs need to shake, rattle, and roll.
Picnics: they’re fun; the kids can run around; and you save money, too. Pack your own picnic from home, or buy the fixins’ at a deli or grocery store. A big part of happy car travel is getting out of the vehicle.
Potties: it’s worth bringing a training pottie, if your child has need-to-go-NOW emergencies.
Pedal-to-the-metal: if you really need to hurtle from point A to B, use a DVD player or laptop, and turn your vehicle into the Cinema on the Highway.