Monday, October 8, 2018

A Discussion for Sellers & Investors

Are you thinking of selling your home or investing in real estate? My recent Facebook Live interview discusses both of these topics in depth.

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

I recently sat down for a Facebook Live interview where I discussed how to maximize your home’s value before putting it on the market and the key concepts you need to know if you’re thinking about investing in real estate.

For your convenience, I’ve attached the timestamps of this interview so you can jump ahead to the section(s) that interest you the most:

0:12 - The four areas you need to focus on to maximize your property’s value when listing it.
0:55 - How we can assist sellers in improving your property’s curb appeal.
2:04 - How to get over the fear of getting into investing.

Don’t wait to buy real estate—buy real estate and wait.

5:19 - The factors I take into consideration when I look at an investment property.
8:19 - One of the biggest problems people face with investment properties.
8:53 - How I can help you get started with buying an investment property.
9:52 - The advantages of buying an investment property right now.

If you have any questions about any of the topics I discussed in this interview, don’t hesitate to call or email me anytime. I’d be happy to help you.

Monday, August 27, 2018

What You Need to Know About the Utah Market

What is happening in our Utah Market? Today I am going to look at it with you.

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

Today I want to give you a quick market update and tell you what you need to know about real estate in Utah. When comparing this quarter to last quarter, we are down 4.6% in home sales. In fact, the Board of Realtors said that, if we looked at listings, they are down 1.6%. While we are seeing less homes on the market, our home values have increased dramatically. Since last year, the median home price in Salt Lake County has increased 7.8% from $327,000 to $352,000. Of course, different markets and areas are seeing different trends. However, this market has been fantastic with 10 years of growth. Now, though, interest rates are increasing which affects affordability. Recently, we had a buyer looking for a $440,000 home, but interest rates increased and reduced his affordability to $410,000. If you are selling a home, this changes the number of people that can buy your home.

When we have less homes on the market, people become afraid of where they are going to go and buyers think that they can't afford a home. Statistically, property values have increased by an average of 3.3%over the last 26 years. What you need to know is this: Interest rates are still great, but they are going up. It is affecting the affordability and is starting to squeeze the value and the affordability of homes. You are going to start seeing more and more townhome projects that come to your city planning meetings as well as smaller micro units. Also, according to economists at the University of Utah, we are seeing an increase in the number of multi-generational families that are living in the same habitation due to affordability concerns. If you need anything such as a home value or a new home, now is a great time to look at different options. For sellers, it's a good time to decide whether to sell or keep your home. Meanwhile, if you are looking at buying, you can look at the interest rates to see if it's a good time to buy. I will say this: Never wait to buy real estate. If you have any questions, please feel free to contact me. I look forward to speaking with you soon.

Tuesday, August 21, 2018

5 Things You Can Do to Stage Your Home

Today I am sharing five decorating and staging tips to help maximize the value of your home.

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

Did you know that 63% of buyers will actually pay more for a move-in ready home? Decorating and staging your home can improve its look and feel. To help you maximize the value of your property, I am going to share five home decorating and staging tips for you to think about.

1. Make repairs to the home. There are always a couple of repairs that need to be made. I love to say “pick five.” Sometimes there’s a baseboard missing, a light is missing, or a window is cracked. Find five things that need to be fixed, because fixing them will make your home look well-maintained.

2. Make sure your home is white-glove clean. Your property should be spotless, both inside and out, and free of odors, as well.

3. Look at the colors in your home. People love neutral colors. Paint over the large red wall that was once a great look with a neutral color. It is going to make it feel bright and will help modernize your home. Fresh coats of paint can also help your home smell like it's brand new.

You need to make sure that your property is spotless both inside and out as well as eliminate all odors.

4. Declutter your home. After we have already done some work and added color, you need to declutter. You either want to toss it, give it, or prioritize it. If there are things that you haven't touched in the last two years, you probably aren't going to use them again and can instead get rid of them.

Less is more, and the more belongings you have, the more cluttered your home will feel. When you do stage your home, think about the buyer. If your home is in an area where 90% of the buyers are going to have kids and potentially a baby, consider putting a cradle in a room. If it is going to be a business executive that might buy the home, make a room an office.

5. Depersonalize the home. Get rid of the religious photos and the collections. I also think that you should get rid of the personal photographs. The reason that this is important is that while you may worship Dale Earnhardt, not everybody does. You want to make it so that every consumer that goes in there can see what the home is and not what you love.

If you have any additional questions about staging or would like a full list of staging recommendations, please feel free to contact us and we can get that to you. And, as always, if you are looking to buy or sell, reach out to us by phone or email. We would be happy to help.