Dan Bumbu, Real Estate Agent

Dan Bumbu, Real Estate Agent Park City & Wasatch Back REALTOR. Helping you understand the home-buying process from pre-approval to closing. Local real estate insights & property tours.

Download my FREE First-Time Home Buyer Guide https://summitvalleyrealestate.com/

Lately me and my wife are going crazy after this Korean bbq bulgogi:- ribeye steak ( sliced )For marinade, blend:1. Spri...
09/23/2026

Lately me and my wife are going crazy after this Korean bbq bulgogi:
- ribeye steak ( sliced )
For marinade, blend:
1. Spring onions
2. A pear
3. White onion
4. 5 garlic cloves
5. 80 ml soy sauce
6. 2 tbs brown sugar
7. 1 tbs sesame oil
8. 1 tsp black pepper

Pour everything over the sliced meat and let it sit for couple hours.

Cook the meat on high heat and add your favorite toppings, mines are sesame seeds, some sriracha sauce, cucumber, carrots, avocado, green onions.

09/22/2026

🏡 DAY 4: What should your housing payment actually be?

One of the biggest mistakes first-time buyers can make is treating their maximum loan approval like a spending target.

It isn’t.

Your lender determines what you may qualify for based on factors such as income, monthly debts, credit, down payment, interest rate, and the requirements of the loan program.

But qualifying for a payment and comfortably living with that payment are two different things.

When deciding what YOU can comfortably afford, think beyond the mortgage:

• Principal + interest
• Property taxes
• Homeowners insurance
• Mortgage insurance, if applicable
• HOA dues, if applicable
• Utilities and maintenance
• Your savings and emergency fund
• The lifestyle you still want to have after buying

Instead of asking “What’s the most expensive house I can qualify for?”

Try asking:

“What monthly housing payment lets me own a home AND still live comfortably?”

Then you and your lender can work backward from that number.

📩 Thinking about buying your first home? DM me “BUYER” and I’ll send you my First-Time Home Buyer Guide.

Educational content only. Loan qualification and costs vary by borrower, property, and loan program.

09/22/2026

A month ago I posted about an $11.5M condo at Sommét Blanc and asked if Deer Valley luxury had officially gone too far.

Well… here’s the update. 👀

As of today, the Sommét Blanc residences I’m seeing in the MLS are pending — including the highest-priced one at approximately $17.6 MILLION.

Important distinction: pending doesn’t mean sold, and it doesn’t tell us what the final sale prices will be. But it does tell us these properties are under contract.
Sommét Blanc is currently under construction in Empire Pass at Deer Valley Resort, bringing a new level of slopeside residences and amenities to an already ultra-luxury market.

A $17M condo going pending while it’s still under construction raises an interesting question:
Is there actually a ceiling for luxury real estate in Deer Valley?

09/21/2026

Your salary alone doesn’t determine your home-buying power. Your debt matters too. 🏡

That’s where DTI — debt-to-income ratio — comes in.

DTI measures how much of your gross monthly income (before taxes) goes toward monthly debt obligations.

A simplified example:

Gross monthly income: $8,333
Existing monthly debt: $1,700

$1,700 ÷ $8,333 = about 20.4%

But here’s the important part: when qualifying for a mortgage, lenders also consider your proposed housing payment along with applicable monthly debts.

That housing payment can include principal + interest, property taxes, homeowners insurance, HOA dues, and mortgage insurance when applicable.

So two people earning the exact same salary can have very different borrowing capacity because one may already have significantly more monthly debt.

And DTI isn’t the only factor. Lenders may also evaluate things like credit history, assets, down payment, employment/income documentation, loan program, and the overall borrower profile.

That’s why asking “How much do I make?” isn’t enough.

A better question is:

“What does my complete financial picture look like to a lender?”

Day 3 of breaking down the home-buying process one step at a time.

DM me “BUYER” and I’ll send you my First-Time Home Buyer Guide.

Loan qualification and DTI requirements vary by lender, loan program and borrower profile.

09/21/2026

Second time ever playing golf and apparently I already deserved full PGA Tour commentary. 😂⛳

The confidence from the announcer was significantly higher than the confidence from the golfer.

Still working on the game… but SkyRidge was a good time.

09/20/2026

Growing up in Moldova, I never imagined that one day I’d be standing on a pier in Mexico with my wife. 🇲🇽

Life has changed a lot over the years. Different country, different career, different opportunities — and plenty of work along the way.

Building my real estate business has never been just about commissions or selling homes. It’s about creating more opportunities to experience life, travel, and spend time with the people I love.

This week was one of those moments where I stopped for a second and thought… wow, we’re actually here.

Grateful. ❤️

09/20/2026

Before you look at homes, know these 4 numbers. 👇

Buying a home shouldn’t start with Zillow. It should start with understanding your financial picture.

1️⃣ Monthly income
Know your consistent gross monthly income. If your income varies because you’re self-employed, commissioned, or receive bonuses, a lender may calculate it differently than you expect.

2️⃣ Monthly debts
Car payments, student loans, credit cards, personal loans and other recurring obligations matter. Lenders use these along with your income to calculate your debt-to-income ratio (DTI).

3️⃣ Credit score
Your credit can affect the loan programs available to you, your interest rate, and potentially the overall cost of financing. You don’t need perfect credit to buy a home—but you should know where you stand.

4️⃣ Available cash
Your down payment isn’t the only expense. Depending on the transaction, you may also need cash for closing costs, inspections, appraisal and other upfront expenses. And ideally, buying the home doesn’t leave you with $0 in the bank.

Knowing these four numbers gives you a much clearer picture before you meet with a lender and determine a comfortable price range.

And remember: what you qualify for and what you’re comfortable spending every month can be two different numbers.

📩 Not sure where to start?
DM me “BUYER” and I’ll send you my First-Time Home Buyer Guide.

Day 2/30 • Buyer Series

09/19/2026

Buying your first home doesn’t start with finding the home. 🏡
Before you fall in love with a listing, understand your financial picture: income, debts, savings and credit. Then get pre-approved so you have a clearer idea of your buying power.
Over the next 30 days, I’m breaking down the home-buying process step by step—from getting financially prepared all the way to closing day. 🔑
Day 1/30 — Where do I even start?
📖 Download my FREE First-Time Home Buyer Guide — link in bio.

09/18/2026

🏡 Your mortgage rate isn’t actually “THE mortgage rate.”

You’ll hear things like, “Mortgage rates are around 6%” or “Rates just dropped.”

But that doesn’t mean 6% is the rate YOU will get.

The rates you see in the news are benchmarks showing what’s happening in the broader mortgage market. Your actual rate can be different because lenders price loans based on several factors:

→ Credit score — Generally, stronger credit can qualify for better pricing.

→ Down payment & loan-to-value — How much you borrow compared with the property’s value can affect your rate.

→ Loan type — Conventional, FHA, VA and jumbo loans can all be priced differently.

→ Points & lender credits — You may be able to pay more upfront to lower your rate, or accept a higher rate in exchange for lender credits.

→ Property type & occupancy — A primary residence, second home and investment property aren’t necessarily priced the same.

→ The lender — Two lenders can quote the same buyer differently on the exact same day.

And here’s another important detail:

📉 Rate ≠ APR.

Your interest rate determines the interest charged on the loan. APR is designed to reflect the interest rate plus certain loan costs and fees, making it useful when comparing mortgage offers.

So when you hear:

“Mortgage rates are X% today…”

Think of that as a snapshot of the broader market — not a personalized quote.

That’s why buyers should compare actual Loan Estimates and understand the rate, APR, points, lender credits and closing costs before deciding which financing option makes sense.

The headline rate gets the attention.

Your individual loan structure determines what you actually pay.

Save this for when you start comparing mortgage quotes. 🏡

09/17/2026

Utah’s housing market is showing signs of stability.

But don’t confuse stability with affordability.

According to the Kem C. Gardner Policy Institute, Utah’s median single-family home price reached $559,900, making Utah the 10th most expensive state in the country for single-family housing.

And with the average 30-year mortgage rate at 6.95%, affordability remains challenging.

The Gardner Institute estimates a household needs roughly $147,000 in annual income to afford Utah’s median-priced home with 10% down.

Now look at the Wasatch Back.

Q2 2026 median single-family prices:

🏠 Heber Valley — $940K
🏠 Kamas Valley — $595K
🏠 Snyderville Basin — $2.25M
🏠 Park City — $3.8M

Yet the market isn’t showing signs of a dramatic collapse. Across the greater Park City MLS, Q2 transactions increased 10% year-over-year.

Higher rates have hurt purchasing power, but that hasn’t translated into the major price correction some buyers have been waiting for.

For buyers, the opportunity may be less about waiting for the entire market to become “cheap” and more about finding properties where price, seller motivation and negotiating leverage line up.

Because a stable housing market and an affordable housing market are two very different things.

📍 Park City | Heber | Midway | Kamas | Jordanelle

Sources: Kem C. Gardner Policy Institute; Park City Board of REALTORS Q2 2026; Freddie Mac.

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Park City, UT
84060

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