Archive for August, 2010

Is buying a foreclosed home a good investment?, by Inwest Title a Utah Title Company

Friday, August 27th, 2010

Here is a good article from Ted Jones, Chief economist as Stewart Title Guaranty Company, discussing the potential advantages of buying foreclosed properties.

See Article here.

Utah Market Data Report – August 25, 2010, by Inwest Title a Utah Title Company

Wednesday, August 25th, 2010

If you are interested in Utah’s market trends for interest rates, home pricing, monthly listings vs. sales, average home sale price per County, construction permit starts, and much more, then please download the  Inwest Title’s Market Data Report from our website. Our report is emailed to hundreds of Real Estate, Mortgage and Title Insurance professionals twice a month.

If you are interested in being added to the distribution list please send an email to Deborah Cope or contact any of our Marketing professionals in one of our 12 convenient statewide locations.  Click here for today’s report.

Are you receiving a “Quality” Title Examination and Preliminary Title Report?, by Inwest Title a Utah Title Company

Friday, August 13th, 2010

It’s the old saying do you prefer quality or quantity? In this case Quantity = Time. The average American has come to expect overnight shipping, instant pudding, on-demand movies, and computers that run 3 Gigahertz per second.

A rose bush still takes weeks to leaf, form buds, and yield beautiful blossoms. Corn stalks still take weeks to rise from the earth and a few more weeks to produce ripe sweet corn. Watermelon wines weave their tendrils oh so carefully across the garden path and their blossoms take months to convert to large tubs of sweet juicy flesh.

Sometimes, quality is worth waiting for. At Inwest Title Services, humans search title records and prepare title reports. We pride ourselves on being thorough to protect our clients.

More and more we find ourselves being asked to rush a title search either because “so and so” provides it in one day, or enough time wasn’t provided in the REPC for the title work, or someone merely forgot to order it in a timely fashion.

We are happy to accommodate our clients. We understand there are “emergencies” and we are here to help. We enjoy providing great service. We also like providing a quality product.

Some title companies only search back to the most recent vestment. Inwest Title Services searches back at least 40 years and sometimes further, depending upon what the search reveals. We believe this provides the best protection for clients; and most of our title reports are completed and in your hands within two to three business days.

So, next time you order a title search from your friendly escrow officer at Inwest Title Services, please remember that we are fulfilling your order with quality!

HVCC officially set for elimination in less than 90 days, by Inwest Title a Utah Title Company

Friday, August 6th, 2010

On July 21, 2010 the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law.  Included in this bill was a provision that officially started the countdown for the elimination of the Home Valuation Code of Conduct (HVCC).

HVCC was implemented by the The federal Housing Finance Agency in May of 2009.  HVCC was said to be an attempt to give appraisers more independence, and prohibit lenders, realtors, or other third parties from influencing and pressuring appraisers to get a certain value on a property.

HVCC regulations were controversial from the get go, as many independent appraisers felt that they were being cut from the market due to a mandatory requirement by some banks and lenders to use appraisal management companies (AMCs).  Many Appraisers, Real Estate Agents, and Lenders feel that HVCC has not only hurt their business, but in many cases is hurting the very person it was intended to protect, the consumer.

With the elimination of HVCC on the horizon, many in the Real Estate industry rejoice,  but  the realization remains that we are not in the clear yet,  as we await to see what the Fed will write in the “appraisal independence standards” which are slated to replace HVCC.

As the saying goes…..  “We may have won the battle, but we still haven’t won the war” on this issue.