Where NOT to Save Money on Your New Home

Sounds strange doesn't it? Why would you not want to save money? Well, let me tell you...

The best place to spend money on your new home is when choosing your lot and location. Everyone knows the saying, "location, location, location." Choosing a good location both in the area you choose to live and in the exact location of your home within the community is a big deal. Think about it. Why would you choose a location just because its "cheaper?" You want the best for your new home and that means finding the right location for you. Whether that means something family friendly, urban cool or just a great location for your commute. The bottom line is, where you live matters to you, and when you go to sell your home location will play a big part in the price you can get for your home.

For instance, McArthur Homes is building beautiful new homes in a brand new neighborhood at a fantastic location. Herriman Towne Center, located at the heart of Herriman, is across the street from the Herriman City Library, elementary school and brand new Recreation Center. Your children could be a minute's walk from picking up a new book at the library and you could be only moments away from taking the whole family for a swim at the Recreation Center. Plus the new Legacy Highway is being built about 5 minutes away, creating an easy commute. Check out Herriman Towne Center in person to see all that this beautiful new neighborhood has to offer.
13158 S. Herriman Rose Boulevard, Herriman
or call Jared at 801-662-0156

#1 Home Building Mistake

What is the number one mistake you can make when looking to build your new home? According to Best Home Design, the biggest mistake you can make is not taking the time to find a "Home Builder with Passion." Sounds a little funny, but what does it mean to be a passionate Home Builder?

When you first meet a “Home Builder with Passion”, you will notice their charm, and keen listening skills. They are very similar to a great doctor. Their focus will be entirely on listening to the patient, or you the homebuyer. They will have many questions, which will help them diagnose or determine your needs.

Once they understand your needs and desires… Hang On. They will begin a presentation of ideas and possibilities that will astound you. You are now sensing that they are more than just a Home Builder...

When first meeting with the Home Builder, listen to their story. How are they different from the other Home Builders in the area? How do they capture trends in New Home Building Construction Ideas?

Important – do not make your decision on the lowest bid. Almost anyone can make various cuts to lower their final estimate.

 A Home Builder with Passion is a builder who will listen to what you want in a new home and can offer you the opportunity to make your dreams a reality. They are on the cutting edge of what is relevant in home building today. Most importantly, they feel passionately about home building and providing you, the home buyer with an excellent experience.

McArthur Homes is a family-owned company with a passion for helping other families to enjoy the dream of home ownership. Each of us is interested in helping you, the home buyer by understanding what you want in your new home and helping you to achieve it. Customer satisfaction is so important to us that we survey each home owner after closing using a 3rd party company, and we have found that over 97% of our home owners would recommend us to their friends and family! What do they say they love about McArthur Homes? Read comments for happy new home owners here.

2010 Home Design Trends

Here's a quick video on some trends we've seen this year in home decor. Use these tips and tricks to decorate your new home. Happy Decorating!

2010 Home Design Trends

Happy Holidays from McArthur Homes

McArthur Homes would like to wish you and yours all the best at this holiday season. We hope you are enjoying time with loved ones during this special time.

To celebrate the season, McArthur Homes is offering you up to $15,000 to use towards your new home. Use this money towards closing costs and/or options in the Design Studio such as granite countertops, hardwood floors, designer lighting or tile flooring.

Take a look at our brand new communities and move-in ready homes. Or check out all of our neighborhoods and floorplans on www.mcarthurhomes.com and start the process of building and personalizing your brand new home. Hurry, this holiday offer ends December 31, 2010.

Up to $15,000 in incentives to be used for either Design Studio options or closing costs.
Up to $15,000 on base home prices above $250,000.
Up to $12,000 on base home prices above $200,000.
Up to $9,000 on base home prices below $200,000.
Closing cost option is limited by maximum seller loan contribution limits.

Click here to email me for more information on $15,000 incentive, or for any questions regarding building a new McArthur Home.

Holiday Lights at Thanksgiving Point

Thanksgiving Point is a great place for family activities, especially during the Holiday Season. This year the Holiday Lights Display is more than a mile long and features over a million twinkling lights. You can ride in a carriage, wagon, trolley or your own car through the winding display of Christmas cheer.

While you're in the area, be sure to stop by McArthur Homes' Thanksgiving Meadows neighborhood. Located just north of Thanksgiving Point, this fantastic neighborhood has a warm, family-friendly feel and is just off I-15 for easy access to Salt Lake and Utah Counties.

Here's all the Information on Thanksgiving Point's Holiday Lights 2010:

When

November 26 - Dec 27, 2010
(closed Sundays and Christmas day)
6-10 pm
*6-8 pm, December 24

Where

Electric Park
view Property map>

Admission

$8/car (1/2 price for Thanksgiving Point Members)
$2/trolley (per person, 25 person maximum) - $50/reserved trolley
$3/wagon (per person, 35 person maximum)- $90/reserved wagon
$30/carriage (up to 4 adults)
$25/bus

Herriman Recreation Center

The largest recreation center in Salt Lake County is under construction, directly across from McArthur Homes' newest community, Herriman Towne Center. Check out this Fox13 News video from the groundbreaking this summer. The recreation center is set to open March 2011 and is now selling memberships at a discounted rate! So, go check it out now, and don't forget to stop by our beautiful new model home and find out more about Herriman Towne Center by McArthur Homes!

 

Industry Leading Customer Satisfaction

In 2010, McArthur Homes has once again proven that a commitment to customer satisfaction isn't just something we talk about. We survey all of our homeowners after closing using a 3rd party company, and they have found that 97% of McArthur Homes homeowners would recommend us to their friends and family! That's way above industry standards and leading competitors.

So why are McArthur Homes homeowners so happy? Here's what a few recent home owners have said:

The McArthurs are great people who take pride in their business.

McArthur Homes stood out above and beyond all the other builders we looked at. We wished to move sooner but decided buying a used home and settling on features wasn't what we wanted. McArthur Homes presented beautiful homes and plenty of upgrade options to suit our needs, and most importantly our budget! We love our new home and can't wait to raise our son in it, and all other future children!

We love McArthur Homes! We looked at every builder and had determined that building was just too expensive for us. Then we stumbled upon McArhtur Homes. The home was so affordable, and huge! We got the home of our dreams and we were able to design parts of it. Our home buying experience was better then we dreamed, and we owe it all to McArthur Homes.

The kindness that was displayed and the patience. They helped me decided everything and they were so helpful.

The entire process was exceptional! However, if I had to choose the one I was most satisfied with was the fact of how patient they were with us. They never ceased to show patience in regards to our issues and helped us every step of the way to understand and resolve them. Exceptional customer service! 

 To read more comments from happy McArthur Homes homeowners visit our website, or our Guild Quality Survey page.

MSN's 10 Reasons You Should Buy a Home Now

MSN.com released a list of the top 10 reasons that buying a home now is a great idea. Their top 10 include:

Mortgage are cheap (As in, interest rates are low!)

You'll save on taxes

You'll get a better home

You can get a good deal

It offers some inflation protection

It's risk capital "Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy -- if it happens -- and still managing to sleep at night."

It's forced savings
 
And one of my favorites:

It'll be yours

When you own, you can have the kitchen and bathrooms you want. You can move the walls, build an extension -- zoning permitted -- or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible.
Also, you'll feel better about your home if you own it. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Prime Minister Margaret Thatcher had just begun selling off public housing to the tenants.
"You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy."
It was a small sign that said something big.

You can check out the full article here, http://articles.moneycentral.msn.com/Banking/HomeFinancing/10-reasons-you-should-buy-a-home-now.aspx?cp-documentid=25948264

Utah- This is the Place

Here is some great information about Utah from the Deseret News. What an awesome place to live!

Utah has claimed the top spot in Forbes magazine's annual ranking of "The Best States for Business and Careers." Deseret News

The magazine's "Best States" ranking measures six categories for business, including costs, current economic climate, growth prospects, labor supply, quality of life and regulatory environment.  Forbes noted that while states across the nation have suffered as a result of the national economic downturn, some states, like Utah, have weathered the downturn better than others. 

Deseret News
Promised Land- How Utah became the new economic Zion. Newsweek Nov 8, 2010
While nearly every local economy succumbed to the frozen credit markets, failing to grow much during the last two years, Utah has flourished. It set its own records for new companies (more than 40) and capital investment (nearly $2 billion). That has helped sustain an average of 3.5 percent annual growth during the last five years, more than any state other than energy-rich North Dakota.

The 75-mile corridor stretching from Ogden in the north to Provo in the south, has absorbed massive new data centers for eBay, Twitter, and Oracle; splashy new offices for Disney Interactive, EA Sports and a commitment from Adobe—the makers of Flash and Acrobat—to build a thousand-person software-development campus, where the minimum average salary will be $60,000.

The University of Utah recently tied MIT for creating the most companies out of its patented research: more than 80 since 2005. Provo has the most high-growth companies per capita in the country, according to Inc. magazine.

Expressing a shared sentiment among many business people who go to Utah these days, Sequoia Capital venture capitalist Michael Goguen said “We’re noticing.” Compelling sales pitch. It includes facts like cheap energy, low taxes, and top billing from list makers like Forbes. But the close is almost bumper-sticker simple: cheaper than Washington, cooler than Texas, as outdoorsy as Colorado … and not California. Gov. Gary Herbert touts how he is “making the state business-friendly while California is doing the opposite.”

Utah's biggest potential liability—its conservative, religious populous becomes an indisputable strength. Utah's people are, indeed, an employer’s dream. They are healthy, hard workers (pouring in 48 hours a week on average), and exceedingly stable, with the highest birthrates in the nation. The large number of young Mormons who spend two years on a conversion mission also means a huge swath of the population earned its sales stripes in hostile terrain.

Utah Notables & National Rank:
Employment & Income:
*           #1 "Best State for Business and Careers" & "Most Fiscally Fit State" Forbes
*           #1 "Expected Economic Recovery" & "Economic Outlook" American Legislative Exchange Council
*           #1 "Number of Research Produced Business Start Ups" University of Utah
*           #1 "5% Annual Household Income Increase"
      
*           #2 "3.5% annual economy expansion"

*           #4 "1.5% employment increase"
          
*           #5 or Better "1950 to 2009 Percent of Change Non-Farm Employment"
        
*           #8 or Better "AAA Bond Rating"
*           "Decrease of corporate tax rate from 7 percent to 5 percent" Deseret News
         
*           "Energy Costs 35% below National Average" & "45% World Export Increase"
         
Who has Taken Notice:
*           7000 Jobs Construction
*           1000 Jobs Adobe
*           800 Jobs ATK Aerospace Systems
*           700 Jobs Goldman Sachs
*           300 Jobs National Security Agency
*           300 Jobs MediConnect Global
*           250 Jobs Royal Bank of Scotland
*           200 Jobs ebay
*           Oracle, Proctor & Gamble, Boeing, Janicki industries & Twitter

Population & Demographics:
*           #1 "Household Size","Households Defined as Families" & "Median Age"           
*           #1 "Population Growth" U.S. Census Bureau
*           #1 "Birth Rate" National Center for Health Statistics
*           #3 "Life Expectancy"
*           #7 "Healthiest Population"
*           "80% of Population Speaks a Second Language"
*           "16,000 Estimated New Households in 2010"   

Supply & Affordability:
*           "Unoccupied Home Inventory Dropped from 3000+ in 2007 to 1000+ in 2009"           
*           "Interest Rates have never been lower & home prices are lowest in a decade"
*           "Interest on a $200k mortgage at 4% -vs- Interest at 8% increases monthly payment over $500"
*           #9 or Better "Economic Confidence" Gallup   
*Information collected from the 2010 Ivory Institute.

Check Out This Credit Repair Video

Remember, McArthur Homes is offering FREE Credit Repair from Nitro Credit from those who purchase a new home. For more information, email kristi@mcarthurhomes.com.

The Low Down on Credit Scores

Credit scores can be confusing and frustrating. The good news is that once you understand how to build your credit, your credit score can be your best friend. Check out the table below to see how building good credit can save you thousands of dollars on your new home.  I've also posted some information on how your credit is calculated. Thanks to Nitro Credit for all the helpful info. They are experts at credit repair!

Want to learn even more about building your credit? Join McArthur Homes and Nitro Credit for a FREE Credit Repair Seminar on November 6th at 10:00am. Located at the Thanksgiving Meadows Clubhouse, 3790 N. Bluegrass Blvd, Lehi Utah. For more information email jesse@mcarthurhomes.com




Our lives revolve around credit and FICO scores but sadly some people never realize it until it is too late. The chart below shows how much more someone with a lower credit score would pay over the term of a 30-year conventional mortgage loan for $200,000.
(5/2009)

Credit Score	Interest Rate	Cost of Your Credit
720-850	4.75%	$0.00
700-719	5.125%	$16,668.00
640-699	5.67%	$41,392.80
600-639	6.5%	$79,506.00

Your credit score is calculated based on credit-related information contained in your credit file. This information is analyzed in five different ways to produce a three-digit FICO score.

1. Payment History:
    35% of your score is based on paying your credit related accounts. Late payments and other negative marks drop your score quickly.
2. Credit Utilization:
    30% of your score is based on how much credit you have and how are you using it. If you are close to utilizing the maximum amount of credit limit provided you, this can reflect negatively on your score.
3. Length of Credit History:
    15% of your score is based on good payment history over a period of time.
4. New Credit Inquiries:
    10% of your score is based on the number of inquires coming from creditors.
5. Types of Credit:
    10% of your score is based on having different types of credit accounts such as home mortgage, vehicle, credit cards, etc.

New Herriman Library Opens Across from Herriman Towne Center

The brand new Herriman Library has just opened up across the street from McArthur Homes' Herriman Towne Center homes. The library's Grand Opening was Saturday, October 23rd. Local families flocked to the library to celebrate this exciting event, the start of many new facilities opening up at the heart of Herriman. The beautiful new library is located next to the new Herriman Recreation Center, which is currently under construction. The address is 5380 West Main Street. Click here for more information on the library, including upcoming events.

Come check out the beautiful new library, and while you're there, stop across the street to view McArthur Homes' newest community, Herriman Towne Center. Our model home is under construction and will open soon at this amazing location! For more information, email kristi@mcarthurhomes.com

Tips for Keeping Good Credit

Working in the home building industry, I have seen many people who have been held up from building their dream home, simply because their credit scores were too low. McArthur Homes has recently teamed up with Nitro Credit to help our homebuyers improve their credit scores. We are offering FREE CREDIT REPAIR to those who purchase a new McArthur Home.

Here are a few tips from Nitro Credit on how to keep good credit. I'll also be posting tips and ideas for building and repairing credit, so check back!


 It is very imperative that you continue to work to keep your credit scores high. A lot of people work hard with credit restoration companies and are able to get their terrible credit back in a place where they want it to be.

The trouble happens when the customer falls back in to their bad habits. They don’t maintain the good credit that they achieved through credit restoration. This can be very frustrating, especially to customers that really worked hard to achieve credit restoration. Here are some tips for helping maintain good credit once you restore it.

1. Stay on top of the amount of debt you have. Your credit card balance needs to stay 25% below the limit ideally. It is a good rule of thumb to remember to only charge what you can pay off every month.

2. Take advantage of bills that have the automatic pay option. This allows the deductions to come out right after you receive your paycheck. That way you aren’t late, and you know you have the money to cover the bill.

3. Don’t put up a lot of credit inquiries. Keep it down to a minimum. You may be used to applying for a few different lines, but stop that habit now. Only apply for lines that are essential and that you know you can pay off.

4. Pay your bills on time. You know this is important, but make a plan to get it to happen. Set up the automatic pay option, mentioned above, or make notes on your calendar when your bills are due. If you are forgetful, set up multiple alarms throughout the day so you don’t forget.

5. Don’t accept every credit offer that comes your way. Be picky about what lines you use. You want to be sure that you actually need it and know you will be able to afford it and pay it back.

6. Be smart and safe about your credit. Credit can quickly be ruined by others through identity theft. Be sure to have identity theft protection measures to prevent this from easily happening.

Why all the Buzz about Interest Rates?

So if you haven't heard everyone talking about LOW INTEREST RATES, you may be living in a cave. Interest rates are down as low as 4.375%. Compared to average rates of 7% that is a huge savings and compared to the 18% interest rates that my parents got on their first home in the 80s it seems downright unbelievable!

But what does that really mean to you? Interest rates can seem kind of obscure and not totally relevant to your bottom line. Here are some hard numbers to show you just how big a deal this really is:

$119,531 ... That's the amount of money you could save on a $200,000 loan over the life of the loan with a 4.375% Interest Rate vs. the historical average of 7%. (A bigger loan amount would mean even bigger savings.)

$14,232 ... That's the additional yearly income you would need to qualify for the SAME LOAN with 7% interest rates instead of today's low 4.375%.

$332.03 ... That's the bottom line savings in your monthly payment with a 4.375% rate vs. a 7% rate on a $200,000 loan.

So if you're waiting for the "perfect time" to purchase your new home, THINK ABOUT THIS: Buying now means you can get MORE HOUSE FOR LESS MONEY per month and you will SAVE MONEY ON EVERY MONTH OF EVERY YEAR on your payments until you pay off your home loan. Is there a $14K raise in your near future? Do you have an extra $120,000 that you'd like to throw away on interest payments? If not, now may be the perfect time for you to invest in a new home.


Thanks to Pierre Alley, McArthur Homes' preferred lender for his help in putting together this information. Click here to find out more about Pierre and financing your new home.

Here's all the math for you detail oriented people:
Parameters: $250,000 purchase price, Loan Amount: $200,000 or 20% down
Conventional, 30 year fixed rate
Rate of 4.375%, APR = 4.526%, P&I payment = $998.57, Total over 30 years = $359,485
Approximate monthly income need to qualify = $4278 (based on a conservative 28% ratio) or $51,335 or borrower needs to make $24.68 per hour
Same loan parameters
Rate of 7.00%, APR = 7.177%, P&I payment = $1330.60, Total over 30 years = $479,016
Approximate income needed to qualify = $5464 or $65,568 or borrower needs to make $31.52 per hour.

Saving with the lower rate = $332.03 per month or $199,531 over the term
Additional monthly income needed to qualify at the higher rate = $1186
All number based OAC.  

New Golf Course Community- Stonebridge at The Ranches

This morning I dropped by McArthur Homes' newest community, Stonebridge. This new neighborhood is located near the entrance of The Ranches of Eagle Mountain, right on The Ranches Golf Course and across from the charter high school, Rockwell. Could the location be any better? The views from these large estate home sites are gorgeous too, so I pulled out my camera and snapped a few pictures of this prime location. With homes starting in the high $100s, golf course living is affordable now! Follow this link for floorplans and pricing on these golf course homes.

Our new model home is now open! Monday-Saturday, 11am-7pm

VA Loans

We have recently had several McArthur Homes homeowners who have financed their home using a VA loan. This is a unique program available to veterans which allows for 100% financing and competitive interest rates. Below I have provided some basics of VA loans, which were provided by one of McArthur Homes' preferred lenders, Scott Smith.


Down Payment & Mortgage Insurance Not Required

The VA Loan allows Veterans 100% financing without private mortgage insurance or a needing to obtain a 20% second mortgage. The guarantee of a VA Guaranteed Home Loan means the lender is protected against loss if you fail to repay the loan. Because the guaranty replaces the protection that the lender normally receives by requiring a down payment or mortgage insurance, qualified borrowers are allowed to obtain favorable financing terms without a down payment.

Assumability

A VA loan can be assumable. For VA Loans committed on or after March 1, 1988, you may sell your home to someone who agrees to assume your loan if the creditworthiness of the new borrower is approved. This can be a significant selling point when it comes time to sell your home.

Interest Rate

VA loans rates offered to VA borrowers can sometimes be lower than interest rates offered to the same borrowers for conventional loans.

No Prepayment Penalty

You are able to repay your VA loan at any time with no penalty.  Often loans with prepayment penalties require an additional amount be paid to the lender if the loan is repaid within the first two or three years.  Your VA benefit provides this extra peace of mind.

Late Payment Guidelines

One of the requirements for the servicing company of a VA Home Loan is that there be no late charge unless payment is more than 15 days overdue. Any late charge may not exceed 4 percent of payment amount. In addition, financial counseling is available from the VA in case of temporary financial difficulties.

Streamline Program

The VA Streamline Refinance allows qualified VA mortgage holders to refinance at a lower interest rate and/or term without having to re-qualify and in some cases obtain another appraisal. This is provided to those who have remained current on their VA loans.

For more information contact Scott Smith of Prime Lending at 801-209-3850 or visit www.McArthurHomes.com.

The (Negative) Power of Pink

Recently I was reading an article on SmartMoney.com about the psychology of sales in real estate. The article sighted several interesting studies. One study showed that buyers were significantly less likely to buy a home where the living room was painted pink. This surprised me because it would take buyers only a few cans of paint to redo the room, but it still impacted their decision to purchase. So, if you're looking to sell your home, don't underestimate the power of staging your home and using neutral colors.

On the other hand, if you do repaint your home to make it more appealing to buyers, DON'T mention that on your listing. According to the article, listings that mentioned new paint sold, on average, for slightly less than those that did not. Apparently buyers feel that advertising new paint means that something had to be covered up.

Click here for more tips on selling your home. 

Check out the article here, to read more about the psychology of real estate.

Do It Yourself Firepit & Flagstone Patio

Here's a fun summer project that can improve the value of your home by adding more entertaining space in your backyard. The project took my husband and I one long weekend plus a few evenings. The cost is relatively minimal if you take the time to find a good deal on flagstone. We got ours on ksl.com for a fraction of the price that it would have cost us at a stone distributor.



Supplies:

• Firepit Kit from Lehi Block Company- This includes the stones for the firepit and also the metal ring. You can choose one with or without grates for barbecuing. www.lehiblock.com  
• Flagstone or pavers for the patio area- We used about a 1-1/2 tons of 2" thick flagstone to cover our 10X12 area.
• Concrete sand- We used about 3/4 of a cubic yard. You can purchase this by the bag at Home Depot/Lowes etc. or get it loose from Lehi Block or similar companies. 
• 2X4 for leveling sand
• Shovel
• Wheelbarrow for hauling dirt in and out 
• Level
• Rubber Mallet
• Masonry Adhesive (We used Liquid Nails brand from Home Depot)

Step One
Check with your city and neighborhood regulations to be sure firepits are allowed. Many cities have requirements that dictate how far your firepit must be from your home or other buildings.

Step Two
Clear the area where you will build your firepit and patio. Then dig the entire area down at least 3-4". You will need to dig deeper if your flagstone is very thick or if you are using thick pavers for the patio surrounding the firepit.

Step Three
Use your firepit ring to determine exactly where the firepit will be located. Be sure to allow space for people to sit and gather around the fire without sitting too close to the flames. Fill the area in and around the ring with 1-2" of concrete sand. Use the 2X4 to compact, smooth and level the sand.



Step Four
Place the first stone against the ring and use a rubber mallet to pound the stone tightly into the sand. Make sure the stone is level in every direction. You will probably have to add or remove little bits of sand. It helps to wet the sand slightly with a watering can or hose. -You can see my husband's cute pink watering can in the background of this picture. :)

Step Five
Continue setting stones around the firepit to create the first layer of stone. Make sure each stone is level to the next and not tilted in any direction. Spending extra time on this first row of stones will ensure that the next layers go smoothly. It took us about 3 hours just to create this first layer of stone, but the next 3 layers took only 20 minutes total.

Step Six
Once your first layer of stone is complete you can remove the fire ring and continue adding layers of stone until your firepit is the desired height. Make sure to offset the stones so that the seems do not line up. Use masonry adhesive to bond the top 3 layers to each other. Adhesive is not necessary on the lower levels as the weight of the stones will hold everything in place. Check to make sure each layer is level as you continue.


Step Seven
When all layers are complete, reinsert the metal fire ring and fill your firepit with sand and/or gravel to 1-2" above the bottom of the ring.

Step Eight
If you will be laying flagstone, first spread out and level more concrete sand. Next lay out your flagstone in the pattern you would like. Take the time to arrange the stones tightly, like a puzzle. Set each stone using a rubber mallet and level, adding or removing sand as needed. When all stones are set, fill the gaps with more sand or use fill dirt if you will be planting moss in the cracks of the patio. Click here for more detailed instructions on building a flagstone patio from American Stone.


Finally, invite over your friends and family and enjoy!

Interest Rates as Low as 4.375%

Interest rates as low as 4.375% have been announced by several of McArthur Homes' preferred lenders, but will they stay this low for long? Here's what Pierre Alley had to say about current interest rates:

Okay, so everyone was holding their breath anticipating where LeBron James would end up playing basketball. This topic has been discussed for months. But, the more important question for all of us is have we seen the bottom for interest rates? My guess is YES. The week started out with the European Banks showing a stronger position. French Finance Minister Christine Lagarde stated that after “stress” tests, European Banks are “solid and healthy. You may recall after the U.S. Banks went through their tests, the positive results helped boost stocks nearly 40%. A jump in our stock prices will most likely cause bond prices to fall. Claims for unemployment benefits were lower this week as well. Bonds have been priced for perfection and so any misstep in economic news provides a good reason to take out profits, which we have seen the last couple of days. I believe bonds have been overbought and so there could be a dark cloud hovering in the near future. This morning an executive board member on the European Central Bank stated, “the worst of the sovereign debt crisis seems to be over.” The jury is still out as Italy might be the next country to reveal debt problems. But for now enjoy these historic low interest rates.




Pierre Alley

Utah Mortgage

Work: 801-561-4700 Fax: 801-561-8585 Cell: 706-9763

Pierre@utahmortgageloan.net / www.utahmortgageloan.net

Senate votes to extend US home tax credit deadline

WASHINGTON June 16 (Reuters) - The U.S. Senate voted on Wednesday to give homebuyers another three months to settle on their contracts and take advantage of a popular tax credit that sparked a rush of activity in the housing market.
The Senate, with a vote of 60-37, accepted an amendment by Democratic Leader Harry Reid that extends the closing deadline to Sept. 30 for buyers who met the April 30 deadline to have a signed contract.
The current deadline requires buyers to close by June 30 to get the $8,000 tax credit for first-time homebuyers. Existing homeowners buying a new primary residence are eligible for a $6,500 credit.
Reid offered the measure as an amendment to a bill that would extend some popular business tax breaks and extend unemployment insurance benefits for jobless workers.
The proposal would not have a significant impact on future home sales as the extension would be only for home buyers who already had a contract in hand by April 30.
The popularity of the tax credit has caused some anxiety because settlement offices are inundated with buyers trying to close on transactions by the end of this month to get the tax break. (Reporting by Donna Smith; Editing by John O'Callaghan)

For All the Procrastinators: Only 2 Days Left for Federal Tax Credits!

I have always been one to put off things to the very last minute. So, if you're a procrastinator like me, and you've been thinking about purchasing a new home to take advantage of the $8,000 or $6,500 Federal Tax Credits....

Now is the time!!!! You still have the opportunity to find a home and get under contract by April 30th (this Friday). The great news is that you don't have to close on the home until June 30th, 2010. So if you find a new home that's nearly completed, you've got the time to wait until construction is complete. In addition, many builders are offering special incentives now, like McArthur Homes' 110% Guarantee of the Federal Tax Credit. 

If you'd like additional information on the credit and who is eligible, email me at kristi@mcarthurhomes.com or go to www.federalhousingtaxcredit.com.

To view some beautiful McArthur Homes that will be ready for the Federal Tax Credits, click here!

More Energy Saving Tips- Save Water, Gas & Money

Happy Earth Day!

Here are some simple tips for saving water, gas and (as a bonus!) money. If you're lucky enough to be building a new home, you can start with a more energy efficient home by installing 90% efficient furnaces, blown-in or fiberglass insulation, and Energy Star Appliances, among other things. McArthur Homes offers a wide range of green-friendly products for your new home in our Personal Selections Catalog, available online.




If you're already in your new home or you own an older home, here are some things you can do to save water and lower your bills:

• Take shorter showers to reduce water use. This will lower your water and heating bills too.
• Install a low-flow showerhead. They don't cost much, and the water and energy savings can quickly pay back your investment.
• Make sure you have a faucet aerator on each faucet. These inexpensive appliances conserve heat and water, while keeping water pressure high.
• Plant drought-tolerant native plants in your garden. Many plants need minimal watering. Find out which occur naturally in your area.

You can also help the Earth and save money by conserving gas:

• Walk or bike to work. This saves on gas and parking costs while improving your cardiovascular health and reducing your risk of obesity.
• Drive sensibly. Aggressive driving such as speeding, rapid acceleration and braking wastes gasoline. You can lower your highway gas mileage by 33% and city mileage by 5%!
• Replace clogged air filters to improve gas mileage by as much as 10% and protect your engine.

 

Thanksgiving Point Tulip Festival

This week my husband and I took our two-year old to visit the Tulip Festival at Thanksgiving Point in Lehi. We all loved it! The blooms were amazing, the weather was perfect and there were fun things for everyone to do. The Tulip Festival continues until May 1st, so if you live in the Lehi area (or even if you don't), check it out!

Tulip Festival
Thanksgiving Point Gardens
April 16th-May 1st
Closed Sundays
10am-8pm
$10/adult
$8/child
2 and under FREE
Click here for $2/off COUPON (you may have to enter your email address)
More Information: http://www.thanksgivingpoint.com/calendar/events/tulipfestival/index.html


If you go:

• The biggest hit for most of the kids there seemed to be the giant grass hill that you see right as you enter the gardens, there were tons of kids rolling down the hill and running back up. It's a great place to let your kids get their energy out!
• Make sure you walk up behind the waterfalls, from above you can look down and see two nesting birds- a goose and an owl! Each has built a little nest in the rocks near the waterfalls. According to a guide we talked to, they are there pretty much 24 hours a day with short breaks to stretch and get food.
• There are concessions, but I would recommend a picnic lunch or dinner. Perfect for a romantic date or a family outing!
• You may want to bring a ball and glove or frisbee. With so much open space, there were tons of kids (and adults) playing catch and just enjoying the outdoors after a long winter.
• On Friday evenings and Saturdays they have live entertainment. Check out the website (above) for more information. One of the days I saw there would be strolling bagpipers- that's something you don't see every day. :)
• While you're in the area, stop by one of our nearby McArthur Homes neighborhoods. View our model homes and see how you could own a brand new home just a few minutes walk from this amazing venue!

Thanksgiving Meadows
Homes starting at $220s
Townhomes starting in the mid $100s
 3779 N. Meadow Springs Lane
801-766-4462

Thanksgiving Village
Golf course homes starting in $250s
2802 W. Crooked Stick Drive
801-768-2910

Go Green- Save Energy & Money in Your Home

With Earth Day coming up this month, I've seen a lot of helpful tips for being more Earth friendly. Here are some tips for saving energy in your home, that will also save you money!

• Install compact fluorescent light bulbs (CFLs) when your older incandescent bulbs burn out. They last longer and use 75% less energy!
• Unplug appliances when you're not using them. Or, use a "smart" power strip that senses when appliances are off and cuts "phantom" or "vampire" energy use. You can also plug home electronics, such as TVs and DVD players, into power strips then turn the power strips off when the equipment is not in use. TVs and DVDs in standby mode still use several watts of power.
• Wash clothes in cold water whenever possible. As much as 85% of the energy used to machine-wash clothes goes to heating the water.
• Use a drying rack or clothesline to save the energy otherwise used during machine drying.
• Air dry dishes instead of using your dishwasher’s drying cycle.
• Lower the thermostat on your hot water heater to 120 degrees F.
• Turn off kitchen, bath and other exhaust fans within 20 minutes after you are done cooking or bathing. 

New Home Construction with Jared Berry

McArthur Homes' own, Jared Berry, was recently featured in a youtube video about building a new home. Check him out below!



The video was filmed at our Thanksgiving Point model home. For more information on this golf course neighborhood, or our beautiful model home, click here.

Building a New Home- Part 3, Closing

The final step in building your new home involves getting ready to move and "closing" on your new home. Here are a few tips:

Preparing for Closing
Once your home is nearing completion and you're busy packing and dreaming about your decorating plans, don't forget to set up your utilities! While your builder will physically connect most utilities during construction, it is your responsibility to arrange for service to be provided.
Here is a quick checklist of services you'll want to contact:

Electrical- Rocky Mountain Power: 1-888-221-7070 or City Government
Gas- Questar: 801-324-5111
Telephone- Qwest: 1-800-244-1111 or other local provider
Water- City Government (maybe included in HOA)
Garbage- City Government (maybe included in HOA)
Sewer- City Government (maybe included in HOA)
Local Cable or Satellite Company

At this time you should also touch base with your lender for permanent financing and make certain your lender is ready to close your loan.
Confirm that your lender:
1. Has all personal selection choices and that the total price is correct
2. Has all information from you required by underwriting
3. Has made contact with your title company

Closing
“Closing” (sometimes called settlement) actually refers to a variety of activities that must occur to transfer Ownership of the property to you. It involves the following:
1. Your lender prepares and delivers all necessary documents to your title company
2. Buyers (you) sign documents at title company office
3. Buyers (your) provide down payment to title company- this should be in the form of a Cashier's Check
4. Any lender insurance such as FHA may require paperwork to be completed. This is also coordinated by you through your lender.
5. Your lender must fund the loan; meaning the money must be sent to and received by your title company
6. Sellers (your builder) sign closing documents provided by title company
7. When all of the above are completed, your title company personnel will personally visit the County Recorder’s office and “record” the deed conveying title to you.

Only when all these have been completed, is the transfer of Ownership complete. Although you can sign all of the documents in just an hour or two, it usually takes until the next business day for the loan to fund and recording to occur. So if all goes smoothly, you will usually receive the keys to your new home the business day following your visit to the title company.

Now comes the fun work of moving in and setting up your new home! Congratulations!

For more details on the home closing process, visit McArthur Homes website by clicking here.

Spring Maintenance Tips for your Home & Garden

Here are some fantastic tips on maintaining your home from HGTV.com

OUTDOOR MAINTENANCE

Divert Water

Gutters do their job best when clean. Check yours for foliage build-up, particularly if trees hover over the roof. The rainy season is a prime time to ensure all drainage areas remain unblocked by leaves and/or debris. Trapped moisture can leave a house susceptible to moss and mildew and cause major damage to your roof and walls. While you’re at it, make sure the downspout is clean and pointing 2-2-1/2 feet away from foundation walls.

Retain the Roof

It’s easy to take for granted the one thing that shields you from the elements. But doing so could cost you unnecessary repair costs. Be diligent about roof maintenance. After the next rainy day, inspect your ceiling for wet spots. Ask a licensed professional to inspect your roof for wear and tear. "If the shingles are curling, buckling or crackling, it’s time to replace the roof," according to Dan Cornwell, president of CC&L Roofing in Portland, Ore.

Check Your Paint Job

Look for chipped, cracked paint along the exterior of your home. "The worse thing you can do is leave wood exposed, because that’s when it will begin to rot," says Brian Gummel, president of The Painting Company in Edgewater, Md. Scrape off any failing paint. Sand it down so there are no rough edges, prime the bare wood surface and paint it with a high quality paint product. Don’t wait until siding accumulates too much dirt. Brighten up the house with a good power washing.

Cut Shrubs and Trees

Trim overgrown trees and hedges away from your home to discourage the growth of mildew and moisture. Branches should be at least 7 feet away from the exterior of your house to prolong the life of your siding and roof. Get rid of out-of-control vines, as they can help crack siding and allow moisture and pests entry into your home.

Love Your Lawn

Rake up the excess leaves you didn’t get around to last fall. Too many can suffocate your grass and stop it from growing. "Pull up weeds, and remove foilage from the lawn, shrubs and any plants," says Neal Julien, landscaping expert with Neal Works Landscaping in Capitol Heights, Md. Pull up dead flowers and replace them with a low-maintenance variety such as pansies, begonias or mums.

INDOOR MAINTENANCE

Keep the Air Fresh

With warm, sticky days ahead, do yourself a favor and give your air conditioning unit a little TLC. Not only does it cool you down, but an efficient air conditioner removes moisture and humidity from your home, which in excess, can damage its foundation. So if you aren’t changing air filters monthly, start now. A unit free of dust and dirt runs more efficiently, saving you money on your energy bill. While you’re there, check hose connections for leaks. Make sure the drain pans are draining freely. If you suspect a problem, contact a certified technician.

Watch Windows and Doors

Investigate all doors and windows for leaks and drafts, particularly near the corners. Look for peeling and chipping paint, which can signal water intrusion. Seal any open areas between the frame and the wall to keep out water, which can deteriorate building materials. Neglecting these tasks can open up potential for environmental hazards like mold growth, experts say.

Control Pests

Keep garbage and debris under control around the exterior of your home. "Do what you would do inside, and get rid of junk," says Genma Holmes, owner of Holmes Pest Control in Hermitage, Tenn. Inside, check the house for entrances and gaps where mice and insects may be tempted to come through. Seal up cracks, even if you just did so in the winter. Mulching the yard this spring? Use a liner underneath. "It’s good to keep a barrier between your mulch and your home," she says.

Take a Peek at the Plumbing

Except for a coffee maker, anything dripping in your house is a bad sign. Check for leaking faucets or sweating pipes, clogged drains and faulty water drainage systems. On laundry day, look at the washing machine hoses for bulges, cracks or dampness. Check under the kitchen sink for leaks, and make note of wetness around the dishwasher. Inspect your water heater for leaks and corrosion.

Tackle the Tiles

While you’re in spring-cleaning mode, pay attention to worn grout between floor tiles in the bathroom or kitchen. A small crack in the grout or caulk can lead to an expensive repair later. If necessary, re-seal as soon as possible. For the bath, get into the habit of wiping down shower walls and tub after each use to eliminate soap and scum build-up.

McArthur Homes Receives 2010 ENERGY STAR Leadership in Housing Award

McArthur Homes earns award for building new homes that protect the environment through energy efficiency 

South Jordan, Utah – McArthur Homes is pleased to announce that it has been recognized by the U.S. Environmental Protection Agency (EPA) with a 2010 ENERGY STAR Leadership in Housing Award.  This award recognizes the important contribution McArthur Homes has made to energy-efficient construction and environmental protection by building more than 75 ENERGY STAR qualified homes last year.  Collectively, these homes will save our customers approximately $33,078 on utility bills each year.

The environmental benefits of these ENERGY STAR qualified homes are equal to the equivalent of:

• Eliminating the emissions from 36 vehicles;
• Saving 219,336  lbs of coal;
• Planting 60 acres of trees; or
• Saving the environment 430,162 pounds of CO2 per year.

To earn the ENERGY STAR, a home must meet strict guidelines for energy efficiency set by the U.S. Environmental Protection Agency.  These homes are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more efficient than standard homes.

ENERGY STAR qualified homes offer homebuyers all the features they want in a new home, plus energy-saving features like effective insulation systems, high performance windows, tight construction and ducts, properly-sized and installed efficient heating and cooling equipment, efficient products, and third-party verification of energy performance.

“Most homebuyers focus on what's outside the walls,” said Sam Rashkin, National Director for EPA's ENERGY STAR Homes Program, “but they also need to look behind the walls for the energy-efficient features found in ENERGY STAR qualified homes that help ensure comfort, quiet, improved indoor air quality, and low utility bills for years to come.”

More than one million ENERGY STAR homes have been built in the United States since the program first began labeling homes in 1995. Thanks to the dedication of our partners, families living in ENERGY STAR qualified homes will save more than $270 million this year on their utility bills, while avoiding greenhouse gas emissions equivalent to those from 370,000 vehicles.

About McArthur Homes

McArthur Homes is a local homebuilder that builds single family homes in Salt Lake and Utah counties.  Currently they are building in neighborhoods in West Jordan, Lehi and Eagle Mountain.  They will soon break ground at the new Herriman Town Center.  McArthur Homes offers brand new attached single family homes priced at the mid 100’s and detached single family homes starting in the high 100’s.  They have built over 1700 new homes since 1993 and were awarded Best of State 2009 for residential construction.  For more information on the company or currently available neighborhoods, visit their website at www.McArthurHomes.com

About ENERGY STAR

ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. Today, ENERGY STAR offers businesses and consumers energy-efficient solutions to save energy, money and help protect the environment for future generations. More than 17,000 organizations are ENERGY STAR partners committed to improving the energy efficiency of products, homes, buildings and businesses. For more information about ENERGY STAR, visit www.energystar.gov or call toll-free 1-888-STAR-YES (1-888-782-7937).

A Sleek, Modern Transformation

These amazing before and after photos show how just changing the color of your cabinets can completely transform the look of your kitchen.

Before, this kitchen's basic knotted alder cabinets are nice, but too traditional for homeowners Ty & Kumari. Vinyl floors and laminate countertops blend into this brown & black color scheme.

After, sleek white cabinets now contrast with the existing countertops and floors. The black, white and stainless steel color combination is cool and modern. Ty & Kumari transformed the cabinets themselves with paint, a rented sprayer and lots & lots of hard work. I don't recommend this do-it-yourself project for everyone. Getting results like this take lots of skill and hard work. Consider hiring a professional, or even better, build a brand new home and choose cabinets that fit your style from the start.






For those of you who (like me) love Ty & Kumari's clean, modern style- here's a few more shots of their beautiful home. Notice how they took a basic background of neutral flooring and paint then made it pop with contemporary furnishings, lighting and cool accents like the wall paper treatment below.

For more information on how you can personalize your new home, click here to visit the McArthur Homes Design Studio on the web.