Beware of Utah Housing Corp. They will work hard to get you a loan AND KEEP YOU
IN IT. Utah Housing is the only lender that will not let you subordinate a
second mortgage. They also will not refinance your mortgage. This mean after 5
years of never missing or being late on a payment, I am stuck with a high
interest rate. No other lender will touch me because Utah Housing will not
subordinate the second mortgage!
Utah traditionally follows certain trends in Las Vegas and Phoenix so this
isn't that much of a surprise. The shortage is due to owners not wanting to
list their home during the holidays. That in addition to NO homes being
foreclosed on in the months leading up to the election (higher power at work
there?) causing fewer short sales has this being one of the best times to sell
AND buy. Sales increased for 18 months but its only been the past few that
"Sold Price" is also beginning to rebound. A perfect storm..
According to area and state economists, Saint George, Utah is in the midst of an
amazing rebound.All aspects of the economy here on the upswing. Real
estate selling very quickly once again, among other positives.
the thing that blows me away is I read out our way we now have a housing
shortage.... how in the world could the world have changed so much in such a few
months..... go figure. I am not looking, nor am I selling though, so
doesn't make much difference to me either way.