Buying a Home in Salt Lake City, UT


Bailouts Bids Benefit Banks but Borrowers Being Abandoned

hundreds of millions of dollarsWhy are we bailing out the banks when consumers were duped into the cruddy loan products the banks sold them...? (At least some of them were "up-sold" the ARM or some other ridiculous loan, perhaps with an inflated Debt/Income ratio as an added bonus?)

Why should businesses be saved when consumers will lose their homes?

The whole mess came about because loans were made that shouldn't have been made... (hundreds of thousands of loans, maybe even millions of them!)

The facts are:

  • Buyers should come in with down payment,
  • Home prices should be set at an affordable level (by offering sound loans to qualified buyers only) and
  • People who can't prove they can pay should pay a higher rate to offset that risk or continue as renters...

And if you look at the crisis and what is naturally coming about in the free market because of it, those exact things are happening. The reason we are in this mess is because banks ignored those basic guidelines.

If the banks had followed sound business practices, we wouldn't be in the mess we are in today.

The long-term answer is to get the banks back to following sound business practices. They basically took on more than they could back up. I know a number of lenders who didn't push these risky mortgages on clients and they are still doing well.

I don't know of a single past client of mine who is anywhere near a short-sale position or having any trouble making their mortgage payment... Why?


  • they got fixed rate mortgages when rates were the lowest they had been in their lifetimes,
  • they bought homes they could afford, and
  • they weren't buying a home while barely making ends meet (or not making ends meet).

I understand there is a big problem, but if the banks are going to be "bailed out", certainly consumers should also benefit and get some "bail out" support.

And what about those who continue to make payments on their homes and will continue to make those payments...? Shouldn't those citizens be rewarded for their common sense and for making the situation better than it would have been if we had all decided to max out and gamble our futures (because the banks allowed, and yes, even promoted it)?

Why give the bail-out money to the people who have proved they can't properly handle money?

The fair and equitable (and free-market) answer is to let the banks go through exactly what their borrowers are going through... let these companies, based on what value is really left in them, be "short-sold" to people (other corporations) who know how to properly handle money.

And NO, that would NOT be the Government!


Buying a home in Salt Lake City or the Surrounding Area? Make sure you get an Agent on YOUR side of the transaction!

If you have excellent credit and will be buying a $250,000-$750,000 home in the next 30-60 days and would like an agent who will work exclusively for you, call us at (801) 969-8989 or contact us via the link on this page.

©2008 Homebuyer Representation, Inc.  "The Real Estate Agents on the Buyer's Side" TM Exclusive Buyers Agents (EBA) - All Rights Reserved

Exclusive Buyer Brokerages do not list homes and never represent Sellers.  Their agents represent Buyers ONLY on the Buyer's side of the transaction. They work to get BUYERS the Best Price and Terms when they Buy...


©2008 Homebuyer Representation, Inc. - Salt Lake City, UT

Exclusive Buyers Agents (EBA) - All Rights Reserved


real estate agents on the buyers side

Comment balloon 7 commentsBenjamin Clark • October 01 2008 03:03PM
Bailouts Bids Benefit Banks but Borrowers Being Abandoned
Why are we bailing out the banks when consumers were duped into the cruddy loan products the banks sold them…? (At least some of them were "up-sold" the ARM or some other ridiculous loan, perhaps with an inflated Debt/Income ratio as an… more
Military Family Relocating to Utah Benefits by Hiring an Exclusive…
Our family was relocating to Utah after 5 years in Japan Although we had done lots of internet searching for houses we really had no idea as to neighborhoods, schools, shopping, etc. The "house hunting" experience was old even before we… more
Salt Lake City, Utah Area Homebuyers Benefit when Having Agent on…
We had a wonderful experience with our agent, Benjamin Clark. We had been looking at houses on our own for about six months, and were getting frustrated trying to find decent houses to look at, physically locating the houses without… more
CNN Money Article - Exclusive Buyer's Agents representing their…
I suppose I should have blogged about this a few weeks ago, but I was interviewed by Les Christie from CNN Money last month and was written up in another CNN Money article, this one titled "Homebuyers turn the screws on desperate sellers. "… more
Exclusive Buyers Agents - A Good Choice when Relocating
I was relocating to Utah and needed an agent to help me find a home and navigate the buying process. Through web searches I contacted several agents and ultimately selected Ben Clark of Homebuyer Representation to help me with my… more
Relocating Client of Exclusive Buyer's Agent: "I got more than…
Category: REAL ESTATE AGENTS Work Done: Yes Hire Again: Yes Approximate Cost: $12, 000. 00 Description Of Work: Benjamin Clark is an exclusive buyer's agent, representing buyers only in real estate transactions and in our case, for the purchase… more
Provo-Orem and Salt Lake City, UT at top of 2008 Best Performing…
The Milken Institute ranks metropolitan areas by how well they create and sustain jobs, wages and salaries and technology. Their report dated September 10, 2008 shows Utah's Largest Metro Areas strong atop the list of over 200 Large… more
Exclusive Buyer's Agent: The Purest Form of Real Estate Buyer…
Christopher Cruise writes on Bankrate. com: Any licensed real estate agent in the United States can legally act as a "buyer's agent, " although not all have experience doing so. You can… engage what's called an "exclusive buyer… more
Wasatch Front Home Price Historical Data for the past 5 years
The Salt Lake Tribune has an excellent "extra" specifically related to Median Home Prices along the Wasatch Front. The data is broken down by zip code with an accompanying map to make it easy to understand which areas you are… more
Most homes sold in Salt Lake County (July 2008) were priced $300, 000…
Good news for those hoping to buy (or sell? ) homes under $300, 000 in Salt Lake County: The Salt Lake Board of Realtors said this week that 71 percent of home sales in Salt Lake County in July were for properties priced less than $300, 000. The… more
Salt Lake Real Estate Market Update
Well, it's that time of year when OFHEO (The Office of Federal Housing Enterprise Oversight) posts all the real estate data that leads to posts such as this. It looks like Salt Lake comes in at 1. 9% home value appreciation from June 2007 -… more
Salt Lake City Real Estate - 2nd strongest metro price increase in…
Salt Lake area home prices (for homes that actually sell) appear to be relatively flat at this time. The good news is that it would appear that Salt Lake still has some cushion considering that the median existing single-family home price "in… more
Why fewer housing starts in Salt Lake is a good thing.
I know you know this, and I know this, but the media doesn't seem to get this… Fewer housing starts are a good thing! (Well, at least for now. ) Remember how builders overbuilt and there was a glut of inventory on the marketplace… more
What You May Not Hear About The Housing And Economic Recovery Act of…
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7, 500 Refundable Tax Credit But… Be Informed There are some strings attached to this tax… more
The Housing and Economic Recovery Act of 2008 - How First Time Home…
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7, 500 Refundable Tax Credit A simple overview of how it works You are eligible if: You are a… more
Home Buyers Beware when Choosing a Utah Home Inspector
In Utah, all it takes to be a home inspector is to call yourself one. See Get Gephardt – Worst Home -Buying Fiasco Ever! - Quotes: "And guess what, home inspectors need absolutely no qualifications… more
Utah County First Time Home Buyers Want Someone on Their Side
We recently purchased our first home in Utah County with the assistance of Benjamin Clark. We had been researching homes and the home-buying process for about a year before we decided the time was right. After reading a lot about the process, it… more
Are Home Buyers Being Tricked Into Agency Relationships?
CASE: Buyer does not have an agent. Buyer sees a home for sale on the internet. Buyer calls Listing Agent to see the home. Listing Agent sends an "Associate" to show the home to the Buyer. Associate asks… more
Relocating Home Buyers Seek Out Exclusive Buyer's Agents for…
Because of my work, I was required to relocate to Utah. As with my previous home search effort in Illinois, I decided to use an exclusive buyer agent rather than a traditional realtor. A traditional realtor normally cannot fully represent buyers… more
Roy Home Buyers Find Success by Hiring Exclusive Buyer's Agent
Wow, where do I start relaying my experience of buying our first house? First, I guess you can say that my husband and I are very cautious people. We do a lot of research before buying any large-ticket item, whether it be a lawnmower, a washer, a… more