Kim Novak's Utah Real Estate Blog: March 2010

News, Trends & Discussions About The Real Estate Market in Northern Utah

Waiver of FHA's Anti-Flipping Rule and an Observation about "Layers"

Press Release


Finally, I've found the actual FHA regulation, a clear and concise breakdown of the waiver of FHA's Anti-Flipping Rule. Surprisingly, the FHA ruling is quite simple reading, with easy, common sense conditions to meet. If any of you are dealing with individual lenders and their investors with flip situations right now, you know that these institutions all have their own "layer" of requirements that make it almost impossible to meet their guidelines.

Solution? Make sure that your lender doesn't have their own policy restricting underwriting and financing of "flips" and has access to an investor who will honor the FHA guidelines, as written, without a third layer of restrictions and conditions.

Layers are good if you're Shrek, not so much if you're a buyer's agent trying to make your client's first time home buying dream come true when they find that cute little remodel with the fenced backyard for her kids.

Novak Business Photo - Signature

Kim Novak is a Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the designations of ABR: Accredited Buyer Representative, CDPE: Certified Distressed Property Expert, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, GRI: Graduate of the Realtor® Institute, SRES: Seniors Real Estate Specialist and ePRO: Internet Professional. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career. 

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2 comments • Kim Novak • March 30 2010 07:49PM

Updated Home for Sale in Davis County Near Hill AFB ... 1413 N 300 W, Sunset, UT 84015

Absolutely the cutest house in town! Beautiful hardwood flooring, carpet in near perfect condition. Updated Americana themed kitchen, big dining area remodeled bathroom with cultured marble tub surround. Gas log "wood"stoves in living room & approximately 12' x 25' master bedroom. Pitched asphalt shingled roof. Double wide driveway & RV parking with gate to the backyard. Furnace has green sticker.

Driving Directions: 4 blocks East of the railroad tracks. From Main St. in Sunset (aka 1900 W in Roy), turn W on 1300 N. Turn right (N) on 300 W to home (on W - left side of street). Kids walk 8 blocks to Sunset Elementary, 4 blocks to Sunset Jr High, bus to Northridge HS.

Novak Business Photo - Signature

Kim Novak is a Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the designations of ABR: Accredited Buyer Representative, CDPE: Certified Distressed Property Expert, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, GRI: Graduate of the Realtor® Institute, SRES: Seniors Real Estate Specialist and ePRO: Internet Professional. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career. 

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0 comments • Kim Novak • March 24 2010 02:18AM

Near Hill AFB! Home for Sale at 4135 W 4700 S in Roy, Utah 84067 ... Chelle Cove Community
4135 W 4700 S
Roy, UT 84067
Conveniently Located Near Hill AFB
Home
Photo Gallery
Virtual Tour
Property Map
Payment Info
Request Showing
Contact Me


Kim Novak, BSBA, ABR, CDPE, CRS, CSP, ePRO, SRES
Lic# 5459481-AB00


Office:800-977-7835
Mobile:801-726-1443
Website:Visit Website


Price : $169,000
Bedrooms : 3
Bathrooms : 1
Square Foot : 1,670
Lot Size : 6,969
Community : Chelle Cove
County : Weber
Property Type : Detached
Year Built : 2000
MLS Number : 938708



click for more information and pictures
Property Description
Cute home in rural-ish area of Roy. Very nice condition. Vaulted ceiling with plant shelf in kitchen. Double closets in master bedroom. New water heater, dishwasher. Central air. 4th bedroom framed sheet rocked in basement. Graveled RV parking. Fully fenced backyard.
Features List
  • Country View Elem
    		•
  • Rocky Mountain JH
    		•
  • Fremont HS
    		•
    Equal Housing Opportunity.
    		RE/MAX Masters : 3636 N. 2900 East - Layton UT 84040 : 800-977-7835

    Novak Business Photo - Signature

    Kim Novak is a Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the designations of ABR: Accredited Buyer Representative, CDPE: Certified Distressed Property Expert, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, GRI: Graduate of the Realtor® Institute, SRES: Seniors Real Estate Specialist and ePRO: Internet Professional. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career. 

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    0 comments • Kim Novak • March 08 2010 02:36PM

    Horse Property! Home for Sale at 2742 N 5150 W, Plain City, UT 84404 ... Parkvale Community
    2742 N 5150 W
    Plain City, UT 84404
    Rural Horse Property in Northwest Weber County
    Home
    Photo Gallery
    Virtual Tour
    Property Map
    Payment Info
    Request Showing
    Contact Me


    Kim Novak, BSBA, ABR, CDPE, CRS, CSP, ePRO, SRES
    Lic# 5459481-AB00


    Office:800-977-7835
    Mobile:801-726-1443
    Website:Visit Website


    Price : $215,000
    Bedrooms : 3
    Bathrooms : 2
    Square Foot : 1,456
    Lot Size : 40,075
    County : Weber
    Property Type : Detached
    Year Built : 1984
    MLS Number : 938603



    click for more information and pictures
    Property Description
    West facing home with lots of windows natural light. Kitchen with stainless appliances. Updated master bath with cultured marble .Decks off master bedroom & family room. Driveway access to garage storage barn with 3 bays and 2 door access + 2 stalls. Back pasture is fenced & has water for livestock.

    Property Features

    * Single Family Property
    * County: WEBER
    * Year Built: 1984
    * 3 total bedroom(s)
    * 2 total bath(s)
    * Approximately 1456 sq. ft.
    * Single level
    * Style: Conventional, Rambler/ranch
    * Updated Kitchen with stainless appliances
    * 2 fireplaces - one wood stove, one pellet stove
    * Fireplace features: Fireplace Equipment, Fireplace Insert
    * 4 or more car garage
    * Attached parking
    * RV/boat parking
    * Heating features: Forced air, Gas/Central, Propane, Wood stove, Wood stove
    * Exterior construction: Aluminum/vinyl siding, Brick
    * Roofing: Asphalt shingle
    * Horse(s) allowed
    * View of the Wasatch Front
    * Hill/mountain view
    * Approximately 0.92 acre(s)
    * Lot size is between 1/2 and 1 acre
    * School District: Weber
    * Elementary School: Plain City
    * Jr. High School: Wahlquist
    * High School: Fremont

    Interior Features
    Swamp cooler, Electric laundry hookups, Insulated windows, Dishwasher, Disposal, Freestanding range/oven, Master bathroom, Updated kitchen, Vaulted ceiling, Ceiling fan(s), Range, Refrigerator, Water softener, Window treatments, Workshop

    Exterior Features
    Barn, Deck, Horse Property, Patio, Porch, Automatic garage door, Detached parking, Satellite dish, Storage/out-building(s), Landscaping, Trees, Fenced, Landscape sprinklers, Level lot, Secluded yard, Patio, Septic sewer system
    Features List
  • Plain City Elem
    		•
  • Wahlquist Jr High
    		•
  • Fremont HS
    		•
    Equal Housing Opportunity.
    		RE/MAX Masters : 3636 N. 2900 East - Layton UT 84040 : 800-977-7835

    Novak Business Photo - Signature

    Kim Novak is a Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the designations of ABR: Accredited Buyer Representative, CDPE: Certified Distressed Property Expert, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, GRI: Graduate of the Realtor® Institute, SRES: Seniors Real Estate Specialist and ePRO: Internet Professional. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career. 

    ActiveRain Profile  LinkedIn Profile   Facebook Me!

     

    1 comment • Kim Novak • March 07 2010 08:03PM