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.

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Knowledgeable & Professional Representation ... Aggressive Negotiation

Kim Novak is a Realtor® and Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career and achieved industry recognition as a Lifetime SalesMaster and member of the RE/MAX Hall of Fame. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the following designations/certifications:

ABR: Accredited Buyer Representative, AHWD: At Home with Diversity, CDPE: Certified Distressed Property Expert, CHS: Certified HAFA Specialist, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, ePRO: Internet Professional, GRI: Graduate of the Realtor® Institute, SFR: Short Sale & Foreclosure Resource, SRES: Seniors Real Estate Specialist

7 comments • Kim Novak, REALTOR® • March 30 2010 07:49PM

SOLD!!! 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.

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Knowledgeable & Professional Representation ... Aggressive Negotiation

Kim Novak is a Realtor® and Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career and achieved industry recognition as a Lifetime SalesMaster and member of the RE/MAX Hall of Fame. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the following designations/certifications:

ABR: Accredited Buyer Representative, AHWD: At Home with Diversity, CDPE: Certified Distressed Property Expert, CHS: Certified HAFA Specialist, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, ePRO: Internet Professional, GRI: Graduate of the Realtor® Institute, SFR: Short Sale & Foreclosure Resource, SRES: Seniors Real Estate Specialist

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

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


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



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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
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  • Fremont HS
    		•
    Equal Housing Opportunity.
    		RE/MAX Masters : 3636 N. 2900 East - Layton UT 84040 : 800-977-7835

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    Knowledgeable & Professional Representation ... Aggressive Negotiation

    Kim Novak is a Realtor® and Broker Associate with RE/MAX Masters in Salt Lake City and Layton, Utah. Licensed in 1995, Kim has closed over 500 sales during her full time real estate career and achieved industry recognition as a Lifetime SalesMaster and member of the RE/MAX Hall of Fame. She holds a BSBA with an emphasis in Sales & Marketing and has achieved the following designations/certifications:

    ABR: Accredited Buyer Representative, AHWD: At Home with Diversity, CDPE: Certified Distressed Property Expert, CHS: Certified HAFA Specialist, CRS: Certified Residential Specialist, CSP: Certified New Home Sales Professional, ePRO: Internet Professional, GRI: Graduate of the Realtor® Institute, SFR: Short Sale & Foreclosure Resource, SRES: Seniors Real Estate Specialist

    6 comments • Kim Novak, REALTOR® • March 07 2010 08:03PM