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Jeff Porter
Mortgage Sales Manager
Utah Community Credit Union

Tyler Dennis
Business Development Representative
RHINO Property Management

McKelle Siebert
Director of Sales
Wilde Real Estate

Buying a home involves a lot of different parties and groups of people. With you as the buyer, the banks/credit unions as the lenders, real estate agencies, and property management teams, it can be difficult to navigate the waters and how they all are connected to each other. In this podcast, we have brought together each of these groups to discuss the market, and what it’s like to buy in this world today.

2008 vs 2023 Real Estate Market

With housing prices at historic rates along with increased federal rates, many are viewing the market similar to the 2008 during the Great Recession. However, McKelle goes into the details showing the differences between the recession we experienced 15 years ago and the financial turbulence we are currently experiencing today. The main questions she covers are

  • What rates are considered good when buying a house?
  • When will housing prices bottom out?
  • What signs show us that today really is a good time to buy a home?

Cross Collateralization

Later, we hear Jeff talk about Cross Collateralization, an innovative financial and lending concept where one loan or line of credit is used to secure, support, and attain new line of credit, typically in the form of a new mortgage or home. This can be a valuable tool for those who find it difficult to secure a large enough down payment for the desired loan.

Property Management

Finally, we hear from Tyler who speaks primarily about renting properties. The main points he focuses on include:

  • The current renting world including common rules and regulations.
  • Management of your property
  • What the future holds for renters specifically in the state of Utah.

The best time to plant a tree was 20 years ago, the second best time to plant a tree is now. The same is true about the housing market. We have entered into a new world of housing and real estate, especially in the state of Utah where interest rates are at a 20 year high and housing prices are at an all-time high. While rates will continue to fluctuate based on federal regulation, the price of homes are expected to continue to appreciate. Regardless of when you get into the housing market, you will always have the option to Refinance Your Home and achieve the lower interest rate you may have missed when purchasing your home.