Monday, October 17, 2016

The Cost of Renting vs. Buying

Some Highlights:

  • Historically, the choice between renting or buying a home has been a close decision.
  • Looking at the percentage of income needed to rent a median priced home today (30%) vs. the percentage needed to buy a median priced home (15%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!
Do You Know the Cost of Renting vs. Buying? [INFOGRAPHIC] | Keeping Current Matters

Monday, September 19, 2016

Home Prices Up 5.61% Across The Country!

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
  • Vermont was the only one state where home prices are actually lower than they were last year.

Wednesday, August 31, 2016

Agent of the Month!

July was an awesome month to buy or sell a house! They gave me the honor of top agent in the whole company and over $2 million in real estate sold...in 1 month!! Thank you to my Broker, Bruce Tucker who is one of the best problem-solvers I have ever met and to my husband who supports me while I work a job that I LOVE!

Thursday, August 18, 2016

Surrounded by the Best!

I am so thrilled to be a part of this club. I am blessed to be surrounded by the best of the best! 


Where Are Home Prices Headed Over the Next 5 Years?

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 4.5% over the course of 2016, 3.6% in 2017 and about 3.2% in the next two years, and finally 2.9% in 2020 (as shown below). That means the average annual appreciation will be 3.5% over the next 5 years.
The prediction for cumulative appreciation increased over a full point from 17.5% to 18.7% by 2020. The experts making up the most bearish quartile of the survey are still projecting a cumulative appreciation of 11.1%.

Bottom Line

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

Another Happy Buyer!!

Friday, August 12, 2016

This is great news for Utah! Who knew that we would recover so quickly?

I love the look of our new awards and am thrilled that I made the cut! :D

5 Crazy Ways to Sell Your House That Really Work!

No matter how amazing your home is, let’s be honest: Real estate is a drag-down, stops-out, winner-take-all competitive market. It can take some true ingenuity to steer prospective buyers through your front door.
Well, to help get your creative juices flowing, here are some offbeat sales tactics that some slightly daring homeowners and real estate agents have tried. And they swear they work!

Offer a cash reward

If you use Facebook or Twitter to stay in touch with friends or share photos, then there’s no reason why you can’t use it to share the news that you’re selling your home!
In order to sweeten the deal, one Canadian family decided to offer a $1,000 “reward” for any “share” that led to the sale of their home. There’s no word yet on how well it worked, but it makes sense: Why not take that split second to spread the word to your pals if cold hard cash hangs in the balance?

Have an over-the-top open house

“The days of the wine and cheese open house are over,” pronounces Alexander Ali, CEO of the Society Group. What’s taken its place are open ceremonies—basically, open houses on human growth hormones, complete with live entertainment, catering from In-N-Out Burger, mermaids in the pool … you get the idea.
These bigger and usually more upscale parties are often pricey, but they don’t have to be. The key is to make it all sound unusual and fun—all the better to cut through the open-house clutter. Just ask Wendy Flynn, a Realtor in College Station, TX, who spent a mere $200 to hire a snow cone truck to park in the driveway of a home she was trying to sell.
“Instead of the typical two to five visitors, over 50 adults and countless kids attended the open house,” she recalls. “Of those who visited, five demonstrated serious interest in the property—proof that creative marketing can help garner attention for a home.” Hey, who doesn’t like snow cones?These bigger and usually more upscale parties are often pricey, but they don’t have to be. The key is to make it all sound unusual and fun—all the better to cut through the open-house clutter. Just ask Wendy Flynn, a Realtor in College Station, TX, who spent a mere $200 to hire a snow cone truck to park in the driveway of a home she was trying to sell.

Create your own reality show

You turn on a camera, set up a channel, and let people peek into your home—all in an effort to help them imagine what it would be like to live there in the future. Crazy? Maybe. But live-streaming is a way to get prospective buyers to see the inside of your property without ever leaving their couch.
“Live-streaming video is a great tool: Facebook Live, YouTube, Blab, Periscope, and Meerkat are all emerging big time for real estate use,” says Ellen Cagnassola, social media manager for HouseMaster Home Inspections.
Feel a bit awkward being the “star”?  Hold an event such as a live show, or hire local talent like stand-up comedians to do a short skit in your home that you can publicize. It’ll get your home in front of more eyeballs, honest! Keep the adult humor to a minimum, please.

Play the celebrity card

Does your home have a celebrity who once slept there? Or perhaps it served as the backdrop for a movie at one point? Or maybe it evokes a certain TV show or movie? Whatever makes your property special, use it to your advantage. And if you don’t have any celeb stories, then consider hiring actors to set the scene.
Jaisa Bishop, an associate partner at Partners Trust, did just that when representing a Victorian house in San Diego that wasn’t getting enough attention.
“I employed my family members to dress in period costume and be in character. They sat in the garden while a local artist painted and brought a few of his pieces to sell. It was a great success,” says Bishop. “Guests were able to sit and have tea in the garden and eat finger foods with the characters while taking in the home. ‘Downton Abbey’ meets real estate!”

Try a little magic

When all else fails, it might be time to call in help from the invisible fairies or forces you  believe in. Kooky, sure, but it can’t hurt and it just might help. Just ask Ellen Shaikun, a broker associate with Berkshire Hathaway HomeServices Parks & Weinberg Realtors, who had heard that burying a statue of St. Joseph upside-down in your yard is supposed to bring a quick sale.
“I had a client who did it. When the house was still on the market two weeks later, my seller kicked into desperation mode and dug up the statue—having determined that it was buried in the wrong place for maximum impact—and moved it next to the mailbox. My seller was correct: We got an offer almost immediately. As we all know in real estate, it’s all about location, location, location!”

Wednesday, August 10, 2016

Welcome to Utah!

Congratulations to the Druce-Peterson family on purchasing your new, gorgeous home in Salt Lake. 

Do You Know the Impact Your Interest Rate Makes?

Some Highlights:

  • Interest rates have come a long way in the last 30 years.
  • The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget.
  • Interest rates are at their lowest in years… RIGHT NOW!
  • If buying your first home, or moving up to the home of your dreams is in your future, now may be the time to act!

This home sold super fast! Call me to get yours sold now!

The Thing That Can Add $5K in Value to Your House

Becoming a homeowner is still the American Dream for many people. You apply for a 15- or 30-year mortgage and add as many home upgrades and improvements as possible. In addition to hoping it’s a seller’s market when you put the ‘for sale’ in your lawn, those home improvements determine how much profit you stand to make from your investment.
One of the best investments you can make is fireplace installation, according to a recent study from Angie’s List. The company surveyed 100 real estate agents on home values in relation to fireplaces and 2,000 homeowners/home buyers and found that fireplaces are a pretty hot commodity.
The majority of potential homeowners in the market today see fireplaces as an asset. They top so many home buyers’ must-have lists and are in such demand, in fact, that fireplaces increase over 76% of homes’ value anywhere from $1,000 to $4,999. The study has one caveat—electric fireplace inserts aren’t nearly as desirable as wood-burning or gas-burning fireplaces.
Without much variation, the wood-burning option was favored by all age demographics. Specifically, of those aged 22-29, 58.82% preferred wood burning, with those aged 30-39 close behind at 57.89%. Meanwhile, those in the 40-49, 50-59 and over 60 age groups favored wood-burning fireplaces at 63.04%, 65.35% and 67.31%, respectively.
Adding a fireplace may add value to your home, but it will come at a price too. If you’re looking to make a home improvement, make sure you understand your financing options. Home equity lines of credit (HELOC), personal loans and/or credit cards are often used to help homeowners with remodels, but they all come with different terms, benefits and pitfalls. For example, a credit card may have a higher interest rate than a HELOC, but if you default on the credit card debt, your home won’t be in jeopardy like it would with the HELOC. No matter which option you pursue, you can check your credit score for free on Credit.com beforehand to see which options and interest rates you’ll qualify for. And if you spot errors on your credit, disputing them can get them fixed quickly.

Thursday, July 28, 2016

If you're looking for a spacious home at a great price, look no more!

This home has one of the largest kitchens I have ever seen! Call Kari Dye, BHHS Realtor at 801-376-8404 to schedule a showing!

Friday, July 22, 2016

Rents Skyrocket at Highest Rate in almost a Decade

The Consumer Price Index (CPI) was released by the Labor Department last week. An analysis by Market Watch revealed the cost of rent was 3.8% higher than a year ago for the second straight month in June. That’s the strongest yearly price gain since 2007.
This coincides with a report released earlier this month in which AxioMetrics announced that rents are continuing to increase in 2016. The report revealed: 
  • There was a 3.7% increase in effective rents in the second quarter of 2016 as compared to the same period last year.
  • That the effective rent growth this quarter compared to last quarter was 2.3%.
  • Annual effective rent growth was positive in 49 of the top 50 markets, based on number of units. Only Houston was negative, at -1.4%, as the fallout from energy-industry job losses and excess construction continues.

Here is a graph to illustrate the rate of increase over the last several years:

Bottom Line

With rents continuing to rise and mortgage interest rates still at historic lows, meet with a local real estate professional who can help determine if you could turn your monthly rental cost into a home of your own.

Thursday, July 21, 2016

6 Reasons You Should Never Buy or Sell a Home Without an Agent

It’s a slow Sunday morning. You’ve just brewed your Nespresso and popped open your laptop to check out the latest home listings before you hit the road for a day of open houses.
You’re DIYing this real estate thing, and you think you’re doing pretty well—after all, any info you might need is at your fingertips online, right? That and your own sterling judgment.
Oh, dear home buyer (or seller!)—we know you can do it on your own. But you really, really shouldn’t. This is likely the biggest financial decision of your entire life, and you need a Realtor® if you want to do it right. Here’s why.

1. They have loads of expertise

Want to check the MLS for a 4B/2B with an EIK and a W/DReal estate has its own language, full of acronyms and semi-arcane jargon, and your Realtor is trained to speak that language fluently.
Plus, buying or selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. Realtors have the expertise to help you prepare a killer deal—while avoiding delays or costly mistakes that can seriously mess you up.

2. They have turbocharged searching power

The Internet is awesome. You can find almost anything—anything! And with online real estate listing sites such as yours truly, you can find up-to-date home listings on your own, any time you want. But guess what? Realtors have access to even more listings. Sometimes properties are available but not actively advertised. A Realtor can help you find those hidden gems.
Plus, a good local Realtor is going to know the search area way better than you ever could. Have your eye on a particular neighborhood, but it’s just out of your price range? Your Realtor is equipped to know the ins and outs of every neighborhood, so she can direct you toward a home in your price range that you may have overlooked.

3. They have bullish negotiating chops

Any time you buy or sell a home, you’re going to encounter negotiations—and as today’s housing market heats up, those negotiations are more likely than ever to get a little heated.
You can expect lots of competition, cutthroat tactics, all-cash offers, andbidding wars. Don’t you want a savvy and professional negotiator on your side to seal the best deal for you?
And it’s not just about how much money you end up spending or netting. A Realtor will help draw up a purchase agreement that allows enough time for inspections, contingencies, and anything else that’s crucial to your particular needs.

4. They’re connected to everyone

Realtors might not know everything, but they make it their mission to know just about everyone who can possibly help in the process of buying or selling a home. Mortgage brokers, real estate attorneys, home inspectors, home stagers, interior designers—the list goes on—and they’re all in your Realtor’s network. Use them.

5. They adhere to a strict code of ethics

Not every real estate agent is a Realtor, who is a licensed real estate salesperson who belongs to the National Association of Realtors®, the largest trade group in the country.
What difference does it make? Realtors are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.

6. They’re your sage parent/data analyst/therapist—all rolled into one

The thing about Realtors: They wear a lot of different hats. Sure, they’re salespeople, but they actually do a whole heck of a lot to earn their commission. They’re constantly driving around, checking out listings for you. They spend their own money on marketing your home (if you’re selling). They’re researching comps to make sure you’re getting the best deal.
And, of course, they’re working for you at nearly all hours of the day and night—whether you need more info on a home or just someone to talk to in order to feel at ease with the offer you just put in. This is the biggest financial (and possibly emotional) decision of your life, and guiding you through it isn’t a responsibility Realtors take lightly.

Tuesday, July 19, 2016

7 Reasons NOW Is a Great Time to Invest in Real Estate

You work hard for your money, but does your money work hard for you? When you store your cash under your mattress (or in a bank if you aren’t a weirdo), it will produce next to nothing. However, when you put money into an investment, your dollars go to work for you.
Plain and simple: Investing is how you become wealthy.
But what is the best “job” for your dollars? How can your money earn the most and offer the least risk? In my opinion, one investment stands head and shoulders above the rest: real estate.
Yes, real estate is subject to timing; and there are times when real estate is not the wisest investment. However, I believe that right now might be the greatest time to buy real estate that we’ll see for another decade or longer. Here are seven reasons why.

1. Interest rates are incredibly low.

Although the “Brexit” scandal that just rocked the world and caused financial markets to tumble, there is one segment of investors who will benefit from the news: those with money tied up in real estate. Why? Two words: Interest rates. Low interest rates lead to low monthly payments, which is great for real estate investors looking to maximize their profits.
Interest rates, which have been at historically low levels for the past decade, have been slowly climbing over the past year, and until recently, most analysts believed that a series of rate hikes from the U.S. Federal Reserve was coming soon. But, with the shaky markets, the opposite has happened: Interest rates have dropped. According to a recent article, “The probability of a federal funds rate hike at the Fed’s next three monthly meetings has collapsed to 0 percent, and traders are assigning a less than 8 percent chance of a rate increase at all this year.”
Several years from now, we’ll look back and say, “Remember back in 2016 when you could get a mortgage under 4 percent? Those were the days!”

2. Banks are lending once again.

In the collapse of the real estate market in 2007 and 2008, many banks tightened their lending standards to such a degree that obtaining a mortgage became next to impossible for many Americans. However, gradually over the past several years, banks have once again begun opening their vaults and relaxing their standards.
No, this doesn’t mean you’ll be able to obtain a 125 percent loan-to-value mortgage with no money down based only on “your signature,” as you may have done during the mid-2000s, but if you have a job and decent credit, obtaining a fixed-rate loan shouldn’t be impossible.

3. Prices are reasonable.

Yes, real estate prices have climbed significantly from their 2011 and 2012 lows. However, for those willing to hustle to find great deals, great deals can be found. This is especially true for investors who buy bank foreclosures. According toRealtyTrac, there were over 100,000 foreclosure filings in May of 2016, showing only a mild decrease over the past year.
For more on buying foreclosures, check out my article “How to Buy a Foreclosure: The Comprehensive Guide to Buying a Foreclosed Home.”

4. Technology has made investing significantly easier.

In the “olden days,” investing in real estate took a significant amount of driving around, talking to people, waiting, looking at hundreds of pages of documents and other difficult, time-consuming tasks. Today, technology has made investing in real estate significantly easier. For example:
  • Advertising units is as simple as posting to Craigslist.
  • Screening tenants can be done online through a number of screening services.
  • Handyman and cleaning services can be ordered online.
  • Tenants can pay rent online rather than in person.
  • Your agent can set you up with automated email alerts for new listings.
  • You can take virtual tours of neighborhoods using Google Street View.
  • You can invest in real estate passively through crowdfunding websites.
  • And so much more. Today, a real estate investor barely needs to leave the comfort of home to manage a portfolio of rental properties, thanks to technology.

5. Knowledge is free.

In the past, real estate knowledge was primarily taught by “get-rich-quick” gurus who traveled the country charging outrageous fees (up to $100,000) for “secret knowledge.” While this practice is still common, the internet has democratized learning in a way that makes real estate investing education completely free.
There are thousands of blog posts, ebooks, podcasts, forums and more sources that help real estate investors connect. BiggerPockets.com, where I spend my nine-to-five, is a good example. Millions of new and experienced investors come to our platform monthly to learn and grow as investors — for free.

6. Your job is unstable.

While you might think you have a stable job, job security is not what it once was. Employers are all too happy to let go of hundreds or thousands of employees just so the price-per-share might increase a few percentage points. Efficiency is the name of the game, and your job might be on the chopping block.

Related: 4 Things to Do With Extra Cash in a Low Inventory Housing Market
Today, the best job security is enjoyed by those who take an active interest in gaining skills and knowledge that can be used elsewhere. Real estate investing is one of the greatest ways to gain financial independence so your job can become optional rather than required.

7. Ten years from now you’ll wish you had started today.

Finally, let’s talk about the big one: Investing takes time. I’m not promising you that tomorrow you’ll be rich if you start investing in real estate today. But I am telling you that in ten years you will likely look back at 2016 and say, “Why didn’t I start back then?”
As previously noted, we are now at a unique point in history where real estate investing just makes sense. Wait too long and you’ll miss out.
Of course, I’m not telling you that any piece of real estate is going to make sense. You still need to understand what you are doing. You still need to do the math correctly. You still need to hustle to find the 1-in-100 deals that actually makes sense.
But for those willing to do the work? The timing couldn’t be better.
[This article originally appeared on Entrepreneur.com.]
Do you feel that now is a good time to invest? Why or why not?