Wednesday, November 18, 2015

I love referrals!

I am showing homes today to a fun couple that was referred to me by friends. Referrals mean so
much in this business. Thank you!

Saturday, November 14, 2015

Under Contract in Salt Lake!

 Such a cute house!! Call me to see homes before interest rates rise AGAIN!

Monday, October 26, 2015

Monday, October 12, 2015

Two short sales in 1 week...crazy!

Yes, there are a few short sales still hanging around! Contact me if you want a great deal on a home! (801) 376-8404

Thursday, October 8, 2015

Congratulations to Lance & Brittney Mitchell!

Thinking of Selling? 5 Reasons You Shouldn’t 'For Sale By Owner'

Thinking of Selling? Why You Shouldn't For Sale By Owner | Keeping Current Matters

In today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house.
  • The appraiser if there is a question of value
  • The title company

 2. Exposure to Prospective Purchasers

Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?
  • 43% on the internet
  • 46% from their agent (who finds it on the MLS system-on the internet)
  • 9% from a yard sign
  • 1% from newspaper
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.
Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Source: KCM

Wednesday, September 23, 2015

The 10 most outrageously expensive cities on earth

New York City
The Big Apple is the most expensive city in the world, when you look at the prices of commonly consumed goods and services, as well as rents in the area, according to the Prices and Earnings 2015 report, released by UBS on Tuesday. While prices are high in New York, it’s the rent that landed New York in the No. 1 spot — with a furnished two-room apartment costing an average of $4,620 (for the cost of one month’s rent in New York, you could rent an apartment for 17 months in Sofia, Bulgaria).
To create this list, UBS looked at the prices for a basket of 122 goods and services (these were items that a European three-person household commonly buys/consumes in a month — including food and clothing — and were weighted to reflect frequency of consumption), as well as rents in the area. Rents were determined using three different types of apartments: Furnished two-room apartment, unfurnished three-room apartment, and a newly built apartment; rent prices included utilities but not the use of a garage. Scores were then indexed with New York receiving a score of 100.

If you just looked at the prices of goods and services in the area, Zurich would be the most expensive city on earth. Residents of this Swiss city spend more than $3,600 a month on goods and services (compared with just over $3,300 in New York City). But factor in rent — which is less than in New York (a furnished, two-room apartment there rents for just $2,500, nearly $2,000 less than in New York) — and Zurich moves down to the second most expensive city on earth.

Prices in Geneva are close to those in Zurich. Rent is just over $2,800 for a furnished two-room apartment and the average family spends more than $3,500 a month on goods and services.

High prices on goods and services — families spend more than $3,100 a month on these — put Oslo in the No. 4 spot on this list. Rents, though high (at $1,940 for a furnished two-room apartment), are still just over half of what they are in New York.

A combination of high rents (more than $2,800 a month for a furnished two-room) and high prices (an average month of goods and services costs more than $2,800) land London on the No. 5 spot on this list.

Hong Kong
Rents in Hong Kong are astronomical (more than $4,400 for a furnished two-room, the second highest in the world), which helps cement Hong Kong’s No. 6 spot on the list. Prices for goods and services in the area are more reasonable (it ranks 19th in terms of the cost of goods and services).

The Windy City, which ranks 7th on this list, boasts both high prices and high rents. Renting a furnished two-room will cost you an average of more than $2,500 a month (roughly the same as in Zurich) and a month of goods and services will cost nearly $2,800.

Goods and services are steep here (residents spend more than $2,900 a month), though rents are more reasonable ($1,420) — at least compared with other cities on this list.

Rents for a furnished two-bedroom in this Aussie metropolis cost more than $2,000 a month, and goods and services nearly $2,700 a month — which puts Sydney in the No. 9 slot on this list.

The No. 10 spot on this list goes to Toyko, thanks in large part to its very pricey goods and services ($2,776 a month). Rents in this city are far more reasonable (at least compared with other pricey cities) at $1,370 a month for a furnished two-bedroom.

Source: Catey Hill, Yahoo Finance

Tuesday, September 15, 2015

Thinking of Buying a Home? Ask Yourself These 3 Questions

If you are debating purchasing a home right now, you are surely getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in real estate.
Let’s look at whether or not now is actually a good time for you to buy a home.

There are 3 questions you should ask before purchasing in today’s market:

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with finances.
A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home have nothing to do with money:
  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space
What non-financial benefits will you and your family derive from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

When looking at future housing values, Home Price Expectation Survey provides a fair assessment. Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
Here is what the experts projected in the latest survey:
  • Home values will appreciate by 4.1% in 2015.
  • The cumulative appreciation will be 18.1% by 2019.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 10.5% by 2019.

So what does that really mean for you and your family?

The chart below was made using the Home Price Expectation Survey’s predictions:
Homeowner's Family Wealth Over the Next 4 Years | Keeping Current Matters
If the experts are right and you were to purchase a home by January 2016 for $250,000, that home would appreciate by over $34,000 over the next four years! As we have reported before, homeownership is one of the best ways to build your family’s wealth.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by an increase in mortgage rates.
The Mortgage Bankers Association (MBA), the National Association of Realtors and Freddie Mac have all projected that mortgage interest rates will increase by approximately one full percentage over the next twelve months as you can see in the chart below:
Mortgage Rate Projections | Keeping Current Matters

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

Source: kcm.com

Saturday, September 5, 2015

Congratulations Travis and Becky!

Congratulations to Travis and Becky. Your new home in Salt Lake City is adorable!

Under Contract!

Another home under contract! Call me if you're ready to start looking for your next home!

Thursday, September 3, 2015

9 Common Real Estate Myths That Can Cost You Money

In recent years, technology has radically changed the way homes are bought and sold, and yet some aspects of real estate are the same as they were when your parents bought their last home. If a long time has passed since your last transaction, you may be surprised at how much has changed.
The Internet has made much more information available to consumers, but not all the information is equal, or even accurate.

"A lot of people, for some reason, they believe what they read on the Internet," says Gea Elika, principal broker of Elika Real Estate in New York "Read everything you see on the Internet with a grain of salt." The danger with believing everything you hear or read is real estate myths can cost you money when it's time to buy or sell a home. Here are nine of the most common ones that can trip up buyers and sellers:

The home value sites on the Internet are completely accurate. Websites such as Zillow and Trulia have gained popularity in recent years but be weary of their valuations. While these sites can provide some valuable information, home values are not one of them. They are consistently inaccurate and can cost you money. Only a licensed Realtor or Appraiser can give you an accurate valuation of a home.

Set your home price higher than what you expect to get. Listing your home at too high a price may actually net you a lower price. That's because shoppers and their real estate agents often don't even look at homes that are priced above market value. It's true you can always lower the price if the house doesn't garner any offers in the first few weeks. But that comes with its own set of problems. "Buyers are highly suspicious of houses that have sat on the market for more than three weeks," says Nela Richardson, chief economist for the brokerage Redfin. In areas such as San Francisco where multiple offers are common, sellers will actually price their homes for less than they expect to get, in the hopes of getting multiple offers above asking price. However, if you do this in a declining market, the danger is that all the offers will come in at the asking price or lower.

You can get a better deal as a buyer if you don't use a real estate agent. "That's a completely false premise," Elika says. If the house is listed with a real estate agent, the total sales commission is built into the price so the seller is covering the cost of both agents. If the buyers don't have an agent, the seller's agent will receive the entire commission.

You can save money selling your home yourself. Some people do successfully sell homes on their own, but they need the skills to get the home listed online, market the home to prospective buyers, negotiate the contract and then deal with any issues that arise during the inspection or loan application phases. It's not impossible to sell a home on your own, but you'll find that buyers expect a substantial discount when you do, so what you save on a real estate commission may end up meaning a lower price. It's not impossible to sell your home on your own for the same price you'd get with an agent, but it's not easy.

You should renovate your kitchen and bathroom before you sell. If your kitchen and baths work, a major remodel could backfire. Prospective buyers may not share your taste, but they don't want to redo something that has just been renovated. "You're better off adjusting your price accordingly," says Kevin Brown Jr., president of Praedium Real Estate Services in Pittsburgh and a regional director of the NAEBA. "Most buyers want to put their own spin on things."

You'll earn back what you spend on renovations. If you fix the heating and air conditioning system or roof, you will sell your house more quickly, but you may not recoup what you spent. According to Remodeling magazine's 2015 Cost vs. Value Report, the only renovation that is likely to net you as much as you spent is a new front door. You're likely to recoup only 67.8 percent of what you spent on a major kitchen remodel and 70 percent of what you spent on a bathroom remodel on a mid-range home. "Very few things will bring you great returns," says Sabrina Booth, an agent with Redfin in Seattle. "If you're going to do these projects, it's better to do them for your own enjoyment."

All the properties listed in the multiple listing service show up online. Your agent must choose to let the listings show up online. Most do, but it never hurts to verify that yours will.

Open houses sell properties. Homes rarely sell to buyers who visited them during an open house. Agents like open houses because it enables them to find additional customers who are looking to buy or sell homes. If you or your agent choose not to have an open house, it probably doesn't hurt your sale chances – although holding a broker's open house for other agents may be worthwhile.

By: Theresa Meers- Aug 2015

Monday, August 31, 2015

Are we shifting back toward a buyer's market?

Advantage Shifting Slightly to Home Buyers

Home buyers may be gaining more leverage in the housing market. As the last few weeks of summer wind down, a realtor.com® analysis of housing data for the first three weeks of August reflects a market that is tipping slightly toward buyers' favor. While sellers still have the advantage, it's showing signs of lessening, the realtor.com® analysis notes.
“We are now entering the time of the year when both inventory and demand typically reach their peak as the start of the school year takes away a substantial chunk of near-term demand,” says Jonathan Smoke, realtor.com®’s chief economist. “This year we’re seeing inventory continue to grow in August. And while overall demand is strong, the trend on median days on market is suggesting that the market is finding more of a balance—and that bodes well for would-be buyers who have been frustrated by the inability to find a home to buy this spring and summer.”
During the first three weeks of August, inventory of for-sale homes increased 3 percent month-over-month. Median list prices nationwide rose 8 percent year-over-year to $233,000. Also, the median days on the market of listings was on the rise in August, increasing to 75 days as houses take slightly longer to sell—another sign reflecting a market that is slightly tilting to the buyers.

Source: “The 20 Hottest U.S. Real Estate Markets in August 2015,” realtor.com® (Aug. 31, 2015)

Monday, August 24, 2015

Under Contract....

After looking at nearly 20 homes, we finally found one that my client LOVES! I love my job!!

Did you know?....

Under California Civil Code Section 1710.2, if you’re selling a property in California and within the past 3 years someone’s died on/in it, it’s considered a material defect and must be disclosed by the seller (unless the death was due to AIDS.) Utah does not require this disclosure.

Wednesday, July 29, 2015

For Sale in Payson!

332 W 1420 S, Payson. Cute home in Payson for sale. $222,900. 6 beds/3 baths, fully finished basement and large, fenced-in backyard. 3% BAC, MLS# 1295773.