"If there is one area of the country where there is a clear, definite growth opportunity, it's here," Yun told local real estate experts in the state last week, according to The Standard-Examiner. "This is where people are moving to. Utah is one of the fastest-growing states in terms of population."

Yun also said he expects the housing market to open up once lenders ease restrictions on who can qualify for home loans in Utah. While many more people were able to receive financing in the middle of the decade, lenders have now tightened restrictions to make up for their old practices.

Yun's comments follow a report earlier this month from the Utah Association of Realtors which found that Utah home sales in 2011 had reached their highest level since 2007, climbing 9 percent from 2010 levels to 33,000 sales. At the time, members of the organization predicted that the trend would continue in 2012.

When home prices are low, buyers may be able to find substantial savings if they invest wisely. Homeowners in Utah have had to drop their asking prices to compete with resales of foreclosed homes and short sales, which this blog reported earlier this month were on a upswing.

Until prices rebound, buyers still have time to purchase and finance homes at reduced rates. With the help of a Utah mortgage company, these savings can be realized this year.

A story in USA Today profiles the emerging trend of investors who purchase rental properties, sit on them for several years and then sell them once the housing market rebounds. Many of these individuals see these investments as being long-term in nature.

Throughout 2011, and actually since 2006, investors have turned to these properties to generate additional revenue streams. About 32 percent of all single-family properties are now owned by investors, up by about 2 percent from 2006.

According to data from Trulia, the average home price in Utah is about $369,000, which is among the highest costs in the nation. Still, news reports and indices have stated that Utah's homes are fairly affordable relative to the average income of Utah residents – $57,000. As Utah's economy improves, so too should its housing market.

"The Utah labor market is expected to grow by more than 30,000 jobs and all sectors of the economy will expand," Salt Lake Board of Realtors president Donna Pozzuoli told Utah Business. "These conditions will lead to an improvement in home buyer confidence, which should stimulate housing demand. The two driving factors for home buyers are affordability and jobs."

As home prices improve, it is unclear how prospective buyers will respond. Will lower prices encourage them to contact a Utah mortgage company to help them finance a new home?
Will it allow investors to scoop up more properties and rent them out? Will burgeoning rent prices finally slow their ascent? Time will tell, but until then, buyers should have a Utah real estate professional available to provide them with housing advice.

The property has been available for sale since 2009, when its price was set at $2.5 million. The price is now $1.75 million, and with interest in Houston certain to surge following her death, there may be renewed curiosity in the property.

"This has undeniable celebrity lineage, history and patina," the listing reads. "From the storied soaring success of the young Whitney Houston, to her marriage ceremony with Bobby Brown, this house and four-car garage car property hosted some of the music industry's most infamous moments."

When homes once owned by celebrities go on the market, their already exorbitant prices – due to the glamorous living environments many celebrities enjoy – are likely to increase even more because of the high-profile nature of the home. Many buyers are willing to pay extra to live in a home once occupied by an individual who has lived in the limelight. 

But, even the most wealthy homebuyers are unlikely to be able to afford these types of luxury homes without significant financing from a lender. In instances where the value of the home exceeds $417,000, jumbo loans – which do not have the backing of the government-sponsored enterprises – will be required to finance these properties.

Borrowers considering buying a home in Utah when the value of that property eliminates conventional loans from the financing equation will need to find a Utah mortgage company that is willing to offer jumbo loans.

Brainiacs From Mars is currently offering to cover mortgage payments in exchange for advertisements promoting their services on the home itself. Homeowners agree to keep the paint job on the home for at least one month and they can extend the agreement for up to one year.

MSNBC reports that some homeowners in California are receiving $2,000 per month in exchange for converting their homes to billboards. Romeo Mendoza, the company's CEO, thinks that the services his company provides are especially valuable to homeowners who are underwater or facing foreclosure.

Despite the success of the project thus far, some real estate experts have cautioned that it will encounter difficulties with the laws of some communities.

"I don't think the program will be a success," housing industry expert Charles McLaughlin told MSNBC. "It will be akin to graffiti – that's how people are going to look at it. They are going to run into zoning problems everywhere."

Mendoza believes that even if zoning laws and apprehensive neighbors try to intervene, his company will have the support of borrowers in desperate need of financial assistance to pay their mortgages.

Homeowners who are unwilling to go to the extreme of selling advertising on their homes could follow a more conventional path and refinance their homes at record-low interest rates on fixed-rate loans. If you are a homeowner who needs help finding home loans in Utah, a local real estate professional will be able to connect you with the right Utah mortgage company for your needs.

Brainiacs From Mars is currently offering to cover mortgage payments in exchange for advertisements promoting their services on the home itself. Homeowners agree to keep the paint job on the home for at least one month and they can extend the agreement for up to one year.

MSNBC reports that some homeowners in California are receiving $2,000 per month in exchange for converting their homes to billboards. Romeo Mendoza, the company's CEO, thinks that the services his company provides are especially valuable to homeowners who are underwater or facing foreclosure.

Despite the success of the project thus far, some real estate experts have cautioned that it will encounter difficulties with the laws of some communities.

"I don't think the program will be a success," housing industry expert Charles McLaughlin told MSNBC. "It will be akin to graffiti – that's how people are going to look at it. They are going to run into zoning problems everywhere."

Mendoza believes that even if zoning laws and apprehensive neighbors try to intervene, his company will have the support of borrowers in desperate need of financial assistance to pay their mortgages.

Homeowners who are unwilling to go to the extreme of selling advertising on their homes could follow a more conventional path and refinance their homes at record-low interest rates on fixed-rate loans. If you are a homeowner who needs help finding home loans in Utah, a local real estate professional will be able to connect you with the right Utah mortgage company for your needs.

In a Trulia survey of first-time borrowers, including Utah first-time homebuyers, men and women were in agreement that a master bathroom would be the feature of a new home they would desire the most. They were also in agreement that hot tubs were the least integral component of new homes.

The study also unveiled the feelings of first-time buyers regarding homeownership as it related to long-term relationship prospects. In general, respondents viewed homeownership as being indicative of someone who is stable and willing make commitments, including relationships. Still, only 28 percent of unmarried adults said that homeownership had any bearing on whether they dated someone.

One of few differences between the two sexes was that women preferred to date someone who lives alone in the suburbs, while men would rather date someone who lives alone in an urban setting. Members of both sexes agreed that prospective partners who still live with their parents are unlikely to appeal to them. Only 5 percent were willing to make a commitment to one of these individuals.

"That's a real deal-breaker," Trulia spokesman Michael Corbett said. "If you're still living with your folks, you're dead-on-arrival for dating."

Whether you plan on buying a home in Utah with a significant other, some roommates or by yourself, a Utah mortgage company should be able to provide you with financing options for your unique needs. A local real estate consultant should be able to find a home with the exact features you need.

Much of the focus on green living environments will be devoted toward refinancing in the next few years. Builders expect this to be the case and homeowners are leaning in that direction, as opposed to building new energy-efficient homes.

The study found that nearly a quarter of remodelers expect to conduct green remodeling by 2016, compared with only 8 percent that made the same claim this year. The number of remodelers who anticipate doing primarily green work increased by 150 percent from this year – 34 percent anticipate focusing primarily on green energy improvements by 2016.

Despite suffering through a year in which housing starts languished at around 650,000 in 2011, many builders have expressed optimism for 2012. Housing starts did rebound marginally in 2011 following a record-low rate in 2010, which might explain why the National Association of Home Builders (NAHB) found in January that builders are expressing their highest level of optimism since 2007. The NAHB confidence index reached 25 that month.

"The housing market is critical to the U.S. economy and the results of our study show that despite the drastic downturn in housing starts since 2008, green has grown significantly as a share of activity – indicating that the green market is becoming an important part of our overall economic landscape," Harvey Bernstein, a McGraw-Hill Construction executive, told NAHB.

Regardless of what type of home loans in Utah consumers are seeking from a Utah mortgage company – construction loans or refinancing options – they should request advice from a local real estate expert.

While Utah first-time homebuyers likely have less to worry about when it comes to purchasing a property for their small families, established homeowners have needed to respond to an emerging dynamic where young people do not leave the home after high school at the same rates they once did.

The U.S. Census Bureau reports that "doubled-up" homes, in which additional adults who are not partners of the homeowner live in the home, now make up almost a third of all U.S. households. This figure is up nearly 25 percent from 2007.

Part of this shift has to do with the high percentage of 18- to 24-year-olds who are unemployed. The Pew Research Center reported last week that barely a majority of individuals in this demographic – 54 percent – are employed, which is the lowest percentage since figures started being recorded in 1948.

Should these figures not improve, homeowners could face substantial financial difficulties, especially as the massive baby boomer generation enters retirement. Due to rising long-term healthcare costs, many of these individuals may move in with their working-age children instead of entering a nursing home.

Borrowers buying a home in Utah should keep these facts in mind as they seek home loans in Utah. Many builders are willing to construct homes that conform to borrowers who plan to house members of multiple generations under one roof. For example, a Utah mortgage company may be able to help a borrower build a home with separate suites for different family members. 

As The New York Times reported earlier this week, the increased demand for housing in the Silicon Valley area has been driven by 30-somethings who have engineered successful technology companies at a relatively young age. In Palo Alto specifically, the median price of a single-family home jumped 20 percent between May 2010 and May 2011 to $1.63 million, according to a DataQuick study cited by BusinessWeek.

Even before the expected spike in home prices, the Bay Area and Silicon Valley already boasts many of the most expensive housing markets in the country. The region is home to many early-stage companies, particularly ones focused on technology, so founders and executives of these booming businesses tend to settle nearby.

"People at startups have a lot of pent-up demand and tend to spend a portion of their new liquidity pretty quickly," Stanford University Law School associate dean, and prospective homebuyer, Daniel Siciliano told BusinessWeek. "They want to manifest their wealth."

Some local real estate experts anticipate that hundreds, and potentially thousands, of new millionaires will purchase homes in the Palo Alto and Silicon Valley areas of California. One such buyer, Steve Eskenazi, told the news source that many of his ilk consider it their "inalienable right" to buy a home, often without concern for cost.

Once these buyers are able to cash in and purchase homes in California, some current residents may look to sell their homes and move to another part of the country. They may even consider settling two states to the east and buying a home in Utah.

These individuals, who may be unfamiliar with local real estate trends and the best strategies for receiving home loans in Utah, may contact a real estate expert that can help them buy a home in a state with a healthy business environment and affordable costs of living.

The key to this occurring is an increase in short sales, which involve a lender allowing a borrower to pay less than the full amount owed on a mortgage when the house is sold. In many instances, short sales are more profitable and more timely for banks than foreclosure, which is often the only option lenders have when borrowers fall behind in their mortgage payments.

According to BusinessWeek, more lenders are engaging in the short sale process to cut their losses. The U.S. Department of Housing and Urban Development's (HUD) Raphael Bostic told the news source that short sales present a short-term financial loss for lenders, but could result in more substantial long-term benefits.

Should more lenders across the country begin to embrace short sales, the market would experience a surge in available homes, which could push prices even lower. But still, if homeowners are able to move out of properties they have been trying to depart for years, the housing market should slowly recover.

"I am optimistic," says CoreLogic chief economist Mark Fleming told the news source. "You can see the wounds ever so slowly beginning to heal now."

A real estate consultant may be able to help a borrower find a Utah mortgage company that is willing to conduct a short sale. As the inventory of homes expand, individuals will be better able to acquire home loans in Utah at a lower cost.