Tuesday, March 20, 2018

Which Home Remodeling Projects Bring the Best Return?


Which remodel projects will bring the highest returns when you list your home? Let’s take a look at the results of a recent study.

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Remodeling Magazine recently came out with a list of the top projects with the highest return on investment. I’m going to share this list with you today but before I do, there’s something I want you to keep in mind: Things in our market might be a little different than what works well on a national level. Overall, this list has a lot of great points that can help you earn more money for your home. Before you make any major remodels, we’d be happy to provide you with guidance as to which projects will work best for your home.


Before you make any major remodels, please come to us for guidance.


Finally, let’s take a look at the list of top projects: 1. Attic insulation 2. A new front door 3. Stone veneer 4. A new garage door 5. Kitchen updates 6. New siding 7. New windows If you would like to see the full list and a more detailed breakdown of the statistics supporting it, click here. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Monday, January 29, 2018

What Can You Expect From a Home Inspection?


Today, I’ll be going over what you should expect from the home inspection process.

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Buying a Salt Lake City home? Search all homes for sale

What should you expect during an inspection? First of all, there are three general types of inspections: a surface inspection, an in-depth inspection, and a professional inspection. A surface inspection is a basic walkthrough of the home. When this kind of inspection is performed, the inspector is looking for anything that might interfere with the property in terms of safety or stability. Things like burn marks, mold, or other physical identifiers of poor condition. Surface inspections are only done about 10% of the time. Frankly, these kinds of inspections miss quite a few things, since they aren’t conducted by a professional home inspector.


A home inspector is going to find something wrong, even if the home is a new construction.


This is why we recommend an in-depth inspection. A home inspector is going to find something wrong even if the home is a new construction. Inspectors, like attorneys, will always find an issue. They have been hired to do so. When buyers and sellers negotiate the issues found in an in-depth home inspection, they will pay the most attention to safety and maintenance issues. It will depend on the individual transaction as to what fixes the buyer asks the seller to make or whether they ask them to make any repairs at all. If the issues that are significant or specific enough, it may be time to hire a specialized professional to take a look. Using the example of a home with electrical problems, you may want to have an additional inspection performed by an electrician. Any repairs that need to be made will typically be done within the due diligence period before closing. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Monday, January 15, 2018

What’s Causing Buyers to Be So Optimistic Right Now?


A lot of buyers now are more prone to buying a home than previously. I have a few thoughts about why that is.

Selling your Salt Lake City home? Get a free home value report
Buying a Salt Lake City home? Search all homes for sale

Why is buyer optimism higher than we’ve ever seen it? Today, I’d like to go over a couple reasons for this mindset.
Fannie Mae recently did a study that demonstrated that a large number of buyers were more prone to and optimistic about buying a home. If you think about inventory from a national level, you’ll get some interesting numbers. We are about 6.5% lower in inventory compared to last year, and yet, we’re about 6.9% higher in appreciation, price, and growth.


Typically, the success of the market is typically tied to economic factors and growth—two areas in which we are doing fantastic.


So with that in mind, what is giving buyers the sense of optimism we’ve seen?
1. Interest rates have remained pretty low over the year. Even though prices are rising, interest rates have gone down and have actually made it more affordable to purchase, despite that change.
2. The demographic of who’s on the market has shifted. When Fannie Mae did the study, they found that the average homeowner’s income was around 125% of someone who was buying. Right now, it’s actually closer to 150%. Millennials who were previously holding off on entering the market are now beginning to look at purchasing homes, as opposed to renting.
3. There has been steady job growth. Because of this growth, the market is starting to look appealing to more people.
If you’re a buyer, know that our market is good, interest rates are fantastic, and inventory is excellent. If you’re a seller, just know that there is a market of people looking to purchase. We expect to see a great market over the next few years as well. The world of real estate can always change, but typically, the success of the market is typically tied to economic factors and growth—two areas in which we are doing fantastic.
If you’re looking to buy a home, we’d be happy to give you free access to our home hunter buyer system found here. If you’re selling, we’re more than willing to give you a free home evaluation. We look forward to talking to you soon.