What To Make of The Headlines

The past month has been packed with Headlines which will be written about in the history books. Here are some of the headlines:

Debt Ceiling Deal Reached To Avert Default: The Huffington Post recapped the news that congress had passed a deal to raise our debt limit. This is like your credit card company increasing your credit limit allowing you to go deeper in debt. But at least you can meet your short term needs. This also included a plan to reduce spending by $2 Trillion...depending on who you ask. Apparently the S&P missed their estimates by about $2 Trillion. But haven't we all misplaced a trillion dollars here or there?

News of the debt ceiling was quickly replaced by news that S&P had downgraded the US credit rating for the first time in history. This is big news because the rate at which the US borrows money could increase. Ever have a credit card company increase your rate because you made a late payment on a different account?

What does all of this mean? In the short term all of the added uneasiness has lead to a rash of investors retreating to mortgage bonds, as investments, lowering long term mortgage rates. Here is a graph showing the improvement in mortgage bonds. These bonds work inversely to mortgage rates. So, as the graph increases, mortgage rates decrease.


It's certainly an understatement to say that mortgage rates are great right now. What's more important is that your purchasing power is greater than it has ever been. You know the stories our parent's tell of 18% mortgages, well the payment on a $100,000 loan at 18% is $1,507.09, while the payment on the same size loan at 4% is $477.42. What does this mean? Buying power at today's interest rates is approximately three times greater than it was in the early eighties. And you don't have to put up with the brown and yellow painted cabinets, shag carpet that requires raking, or faux wood wall paneling in your basement that they were opting for back then.

So, don't let the news or the headlines prevent you from making a great investment on a home for your family. It is still possible to get financing with zero down payment, and there is help for those with past credit challenges.

Contact kristi@mcarthurhomes.com for information on available homes, check out www.mcarthurhomes.com for neighborhoods where McArthur is building, or go to www.scottutah.com for more information on financing your new home.

Buying Cheaper Than Renting in Most US Cities

According to a recent article on CNN Money, buying is now cheaper than renting in most U.S. cities, making now an excellent time to get out of your old rental and into a brand new home. The study, conducted by Trulia found that "buying was cheaper than renting in 74% of the country's 50 largest cities in July."

Cities where rent remains the cheaper choice included New York City, Seattle and San Francisco. For most of us however, low housing prices, low interest rates and great tax benefits add up to real value in home ownership. For instance, you can own your own beautiful new home in Eagle Mountain, Utah starting at just $170,900.

"It's a personal decision, of course. But if you have a steady job and you are planning to stay for seven years or more and have enough cash to put 20% down and enough left over for seven or eight months of expenses, you're better off buying in most places," said Daisy Kong, a spokeswoman for Trulia.  (Read the rest of the article here.)

If you're still renting and would like more information on how owning a brand new home might work for you, visit a McArthur Homes neighborhood or email kristi@mcarthurhomes.com.

Creating a Spa-Like Master Bathroom Inspired by the Parade of Homes

The best way to create a spa-like bathroom is to start with a clean, fresh color palette. Of course I love the simple white and green palette of the McArthur Homes Award-Winning Parade Home, the Cordova. The white octagon tile caused quite a debate. People either loved it or hated it. I'm on the love-it side myself. :) The cultured marble shower and garden soaker tub (a must for a spa-like bathroom) are included at McArthur Homes, making this an affordable and stylish bathroom.

This luxurious bathroom is right up my alley also! Here, the details combine to create a spa-like experience. Want to add a touch of day-spa to your own bathroom? Add rolled white towels on a shelf or tucked underneath a bench. I tried this in my master bath and LOVE it! Other details include a small makeup mirror, sconces flanking the mirrors for ideal lighting and plenty of candles.

Excuse me while I just drool over these white marble countertops. Marble is probably the thing I love most in the world of interior design. Yum!

The tub shown below is another favorite detail. I can't imagine bathing my kids in it, but I guess that is what makes it feel even more relaxing!

And here's one more simple way to transform your bathroom into a spa-like sanctuary. Just add a couple of towel hooks and two white robes. I feel more relaxed already! :)

$2 Tuesdays at Thanksgiving Point

For all of our Lehi homeowners in Thanksgiving Meadows and Thanksgiving Village, here is a great deal from Thanksgiving Point:

TWO BUCK TUESDAYS
$2 for Any Venue (including Museum of Ancient Life, Gardens and Farm Country)
Every Tuesday in August
Visit their Website for More Information

If you don't already own a McArthur Homes home in Lehi, stop by our Award-Wining Parade Home (now open to the public) while you are in the area. Thanksgiving Meadows is located just minutes from Thanksgiving Point and offers townhomes from the $140s and single family homes under $200k.

Salt Lake Valley Parade of Homes 2011

If you've heard anything about the Salt Lake Parade of Homes this year, you've probably heard about the "Up" house at Herriman Towne Center. It's a life-size replica of the home in Disney's movie "Up," complete with a Carl and Ellie mailbox!

To celebrate all of the fun that the "Up" house has brought to Herriman, McArthur Homes is offering FREE Ice Cream to those who visit McArthur Homes at Herriman Towne Center during the Parade of Homes. Come visit us 11:00am-9:00pm Monday-Saturday to see our beautiful model home and find out about all the amazing things that will be coming to Herriman Towne Center over the next few years.

And while you're here, be sure to visit the "Up" house and check out the Parade of Homes.
Salt Lake Parade of Homes
July 29th-August 14th
11:00am-9:00pm
http://www.saltlakeparade.com/