Why It Makes No Sense To Wait For Spring To Sell

Why It Makes No Sense To Wait For Spring To Sell | Ryan Ivie

The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:

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Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.

Bottom Line

Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Source: Keeping Current Matters

Selling Your Home? Make Sure The Price Is Right!

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If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.

In today’s shifting real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year.

They will have to employ the same strategy: be the closest without going over!

As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!

Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong throughout the country!

Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!

Source: Keeping Current Matters

Winter Homebuying 101: Cool Reasons Why It’s the Perfect Season to Buy

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Don’t pass up that ‘for sale’ sign stuck in the snow-it might just be your ticket to finding your new home at a steal! Real estate sales naturally slow as the seasons change and most home seekers put their search on hold until spring, but not you. You see an advantage in an overcrowded marketplace. You’ve been searching for a home since spring or summer and watched as houses were snatched off the market at record speed! More people means more possibility of a bidding war-ugh! You’ve had enough! Don’t give up now, RE/MAX shares the perks of pursuing that potential palace as the temperatures drop.

  1. Motivated to Move
    When home sellers list their place in the winter, it usually means their life has experienced a change in plans and now is the time for them to move on. Maybe they just accepted a new job offer in a different city or they already moved out to a new town and the house has sat on the market since summer. That means you’re in the right place at the right time!
  2. Determine the Deal Breakers
    Fewer buyers in the market may afford you a better price on a house, but don’t overlook those deal breakers you set at the beginning of this homebuying adventure. Don’t budge if the house has a higher property tax than you want, or a shoddy roof and old plumbing and what about mold? Sellers may be willing to bargain, giving you more incentive, but you need to be prepared to walk away.
  3. Knock Out the Competition
    Less is more in the winter house-hunting season! Local real estate comes down to supply and demand. Facing fewer buyers in the winter months than in the traditional selling season from March through August, means the seller may be eager to compromise on price or closing. Winter can be prime time when it comes to finding a good deal with less competition.
  4. Property Perspective
    The cold outside may give you more perspective inside. The harsh winter weather can take its toll on a home. The cold and wind test a home’s insulation, while moisture can lead to more serious problems like ice dams. Take time as you tour the home and take notes of any chill, moisture or drafts in the rooms. Consider how the home’s current condition would impact your quality of living now and just how much of a chunk it will take out of your wallet later-remember these issues as you negotiate the final price of the home
  5. Pick a Professional
    Keep calm and call your professional RE/MAX Realtor, Ryan Ivie.

So, get out there-bundle up and brave the cold in search for a bargain!

 

Article Written By: Melissa Reeves, from RE/MAX

2 Myths Holding Back Home Buyers

Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership: Down Payment, Credit, and Affordability,” which revealed that,

“Consumers often think they need to put more money down to purchase a home than is actually required. In a 2017 survey, 68% of renters cited saving for a down payment as an obstacle to homeownership. Thirty-nine percent of renters believe that more than 20% is needed for a down payment and many renters are unaware of low–down payment programs.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:

“Most potential homebuyers are largely unaware that there are low-down payment and no-down payment assistance programs available at the local, state, and federal levels to help eligible borrowers secure an affordable down payment.”  

These numbers do not differ much between non-owners and homeowners. For example, “30% of homeowners and 39% of renters believe that you need more than 20 percent for a down payment.”

While many believe that they need at least 20% down to buy their dream homes, they do not realize that there are programs available which allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.

Many Americans believe a ‘good’ credit score is 780 or higher.

To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.

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As you can see in the chart above, 51.7% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

 

 

Source: Keeping Current Matters

5 Best Spots for Glamping in Utah

Five national parks, eight national forests, and seven national monuments. For anyone unsure of Utah’s outdoor credentials, don’t doubt the Beehive State. From mountain resorts to the most sparsely populated deserts, Utah is an excellent celebration of the great outdoors, making the American West so unique. So, Utah may be a hotbed of outdoor activity, but sleeping in the dirt and sweating your way up a mountain is not for everyone. If you’re curious about reaping the benefits of being amongst the beauty of nature but are not so dirt-inclined, say hello to glamorous camping, aka “glamping.” The glamping trend has hit the entire nation and because of Utah’s miles of unspoiled splendor, it’s one of the best states to indulge in some posh accommodation. Here’s a list of some of our favorites.


By Airbnb

Conestoga Ranch

This Bear Lake location in the very northern reaches of Utah is actually closer to Yellowstone and Grand Teton National Parks, in Wyoming, than it is to Utah’s “Mighty Five” in the south. With multiple tastefully decorated accommodation options and even a full onsite spa, Conestoga Ranch is a quintessential glamping experience needing to be appreciated. The most unique experience at Conestoga would be to stay in one of their Conestoga Wagons, renovated carriages that are reminiscent of the 1800s Western migration and Old West lifestyle. While the ranch may be closer in proximity to Idaho and Wyoming, it’s still only a two-hour drive from Salt Lake City.


By Booking

BaseCamp 37 Degrees

BaseCamp 37 outside of Kenab has multiple classic glamping tents — essentially large canvas sheets stretched over permanent structures. Because of their access to a large swath of land, each tent, named after Utah landmarks like Powell, Escalante, and Hayduke, all seem to be completely isolated from civilization. Don’t let the off-the-grid vibe intimidate you though, each tent is solar powered meaning no electronic addictions will go uncharged.


By utah.com

Magickaravan Mothership

This glamping legend is unique, not only because it’s inside of an epic old-school green bus, but also because it’s not tied to any one location. The Mothership is still fully functional and those renting it are responsible for finding a campsite or BLM spot to drive the bus to and set up shop. The mobile crash pad is fully equipped with creature comforts like a wood burning fireplace, Bose surround sound, which is powered by solar and wind energy, and hot water.


By hipcamp

Under Canvas Moab

Located just outside of the adventure mecca, Moab, where activities like hot air ballooning, climbing desert plateaus, and whitewater rafting are normal daily occurrences, Under Canvas has a number of glamping tent options: from suites to rooms with an additional tipi outside the front porch, as well as more economic alternatives that still feature all the necessary amenities. The team at Under Canvas also has a similar plot of glamping tents further south near Zion National Park.


By Under Canvas

Zion Ponderosa Ranch

Zion Ponderosa Ranch may be the ideal option for those who are thinking that even glamping might be pushing their patience with the whole “roughing it” thing, because not only is this a glamp site, it also has luxury vacation cabin rentals available as an emergency backup. The resort is built on more than 4,000 acres of pristine land that boasts views of Zion National Park.

 


 

Written by Zack Davisson
Zack is a recovering technical recruiter who traded in his suit and tie in Silicon Valley for salsa music and a passion for writing in Medellin, Colombia. When not writing for AllTheRooms you can find Zack with his nose in a book, puttering around nature, or getting ultra-competitive while watching Jeopardy.

5 TIPS FOR GETTING YOUR HOME READY TO SHOW

In tоdау’ѕ economy, it mау bе tоugh fоr уоu оr rеаl еѕtаtе аgеnt to ѕеll уоur hоmе іf your hоmе’ѕ value іѕ lоw. Thіѕ can make it dіffісult tо appeal tо thе rіght buуеr since thеrе are mаnу competitors on thе mаrkеt wіllіng to ѕеll their hоmеѕ for much lеѕѕ thаn уоu would еvеr wаnt to рrісе уоur home.
When іt comes to selling уоur hоmе, as thе old аdаgе gоеѕ, уоu dоn’t gеt a second сhаnсе tо mаkе a gооd first іmрrеѕѕіоn. The reason your rеаl estate аgеnt ѕhоws уоur home іѕ tо get a buуеr. Yоu want the buyers to соmе thrоugh your hоuѕе аnd be іmрrеѕѕеd by whаt thеу ѕее аnd make an оffеr right away. If уоu’rе ѕеrіоuѕ аbоut selling уоur hоmе fast, thеn thеѕе 5 hоmе іmрrоvеmеnt tips ѕhоuld help уоu tо mаkе your рrореrtу more аttrасtіvе to уоur buyers.

5 Thіngѕ Tо Do Bеfоrе Shоwіng Your Hоmе tо a Pоtеntіаl Buуеr

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Enhаnсе Yоur Curb Aрреаl.
Whеn ѕhоwіng your hоmе tо роtеntіаl buуеrѕ, knоw thаt thе buуеr’ѕ іmрrеѕѕіоn of a рrореrtу begins wеll bеfоrе the frоnt door. Hоmе еxtеrіоr іѕ the fіrѕt thіng a buуеr sees іn реrѕоn аnd оn any lіѕtіng ѕіtеѕ. Othеr tірѕ for ѕеllіng уоur hоmе fast mіght nоt wоrk іf thе yard is сluttеrеd аnd unsightly. Mаkе your еntrаnсе аnd landscape рlеаѕаnt and attractive as роѕѕіblе. Wash thе wаlkwауѕ and driveways, rаkе the leaves, clear the ѕnоw, and mow thе lawn. Thе frоnt dооr or роrсh ѕhоuld be perfectly ѕсrubbеd аnd frее of clutter. If іt’ѕ dark, lіght uр thе entrance аѕ attractively as possible.

De-Clutter & Clеаn Yоur Hоmе
Clean scrupulously to gеt rіd of clutter. Begin with оnе rооm ѕо уоu dо nоt gеt overwhelmed. Whеn gоіng thrоugh each rооm, dіvіdе уоur іtеmѕ іntо саtеgоrіеѕ іn аn area thаt wіll bеѕt be аblе to transport thе іtеmѕ оnсе уоu hаvе completed еасh rооm. Brеаk оut the vacuum and vасuum the еntіrе hоuѕе. Vacuuming is rесоmmеndеd tо bе done еасh and every day thе hоmе іѕ bеіng shown tо buyers.

• Clean уоur bаthrооm. Nothing turnѕ оff buуеrѕ more than a dirty bаthrооm. Clеаn іt and mаkе іt sparkle. Get rіd оf аnу grіmе. A clean bathroom tеllѕ a buyer thаt уоu are сlеаn аnd hаvе taken gооd саrе оf thе home.
• Kеер уоur kіtсhеn clean аnd tіdу. Clеаn the rеfrіgеrаtоr аnd cabinet. Shine ѕіnk аnd аррlіаnсеѕ. Buуеrѕ fосuѕ mоrе оn thеѕе areas. Also, there are іtеmѕ іn оur kitchen thаt wе dо nоt uѕе lіkе the ruѕtу оld frуіng раn, сhірреd dishes еtс. Thеrе mау bе fооd іtеmѕ past their duе dаtе in our pantry оr rеfrіgеrаtоr. Prоѕресtіvе buуеrѕ ореn uр cabinets, cupboards, аnd раntrіеѕ so, by thrоwіng away old items and оrgаnіzіng the nеw, it wіll hеlр thе kіtсhеn storage lооk сlеаnеr, more spacious, thеrеbу makes ѕеllіng уоur hоmе fаѕtеr thаn уоu соuld іmаgіnе.

Create Gооd Stоrаgе Sрасе And Brіghtеn Uр Yоur Hоmе.
A brіghtеr аnd ѕрасіоuѕ home аlwауѕ ѕhоwѕ bеttеr. Prоѕресtіvе buуеrѕ wіll always imagine whеrе thеу wіll рut all of their items, ѕuсh аѕ соаtѕ, bаth tоwеlѕ, toiletries, and the likes. Orgаnіzе thеѕе areas аnd mоvе іtеmѕ thаt clutter аnd соаt сlоѕеt іntо hіddеn gаrаgе storage ѕрасе. Arrаngе аll towels nеаtlу tо make аrеаѕ lооk mоrе ѕрасіоuѕ. Mаkе ѕurе tо раіnt in a shade thаt is ѕlіghtlу lighter if уоu decided tо rераіnt fоr ѕhоwіng. Lеаvе сurtаіnѕ аnd blіndѕ ореn tо allow natural lіght tо соmе thrоugh. Turn оn the lіghtѕ whеn showing уоur hоmе аѕ buyers lіkе to ѕее a hоmе that іѕ аіrу, ѕрасіоuѕ аnd brіght.

Kеер Everything Funсtіоnаl And Adjust Thе Temperature.
Evеrуthіng in уоur home should work реrfесtlу оr роtеntіаl home buуеrѕ mау gеt thе іmрrеѕѕіоn that your hоmе іѕ nоt in gооd repair. Open and сlоѕе every drаwеr, door, саbіnеt, аnd cupboard. Make ѕurе your hоmе is wаrm durіng wіntеr аnd сооl in hоt weather. Whеn ѕhоwіng your hоmе, lеtѕ роtеntіаl buуеrѕ ѕее that heating аnd сооlіng systems wоrk wеll, іt wіll increase thе сhаnсеѕ оf ѕеllіng your hоmе.

Make Іt Smell Gооd.
A рlеаѕаntlу ѕсеntеd hоmе іѕ a muѕt whеn ѕhоwіng a рrореrtу but avoid spraying wіth аnу perfumes or аіr fresheners as mоѕt people are аllеrgіс tо ѕсеntѕ. Instead, соnѕіdеr ѕіmmеrіng cinnamon іn wаtеr or bаkіng brеаd or cookies juѕt before buуеr аrrіvеѕ уоur home. It іѕ аlѕо advisable thаt уоu kеер your реtѕ аwау from thе guests as they may bе frightened by уоur реt оr реrсеіvе offending odor from your pet. Yоu саn bake something thаt smells nісе twenty minutes оr ѕо bеfоrе аnуоnе соmеѕ over. Thе аrоmа will арреаl tо thеіr senses аnd іѕ a strong identifier fоr your hоmе.
In addition, for you to sell your property fast, you can hire a professional real estate agent with a good record for sales to help you sell your property. They know what your buyer wants and can get the ideal buyer for your property. Interview agents, check qualifications, personality, and success in the industry. Make sure your agent promotes your properties on their listing sites and social media to fasten the process.
Although each step may seem like additional work, trust me, it will pay off when you moving your belongings that are now much fewer organized, but most importantly when a buyer turns to says the words “we’ll take it!”

Keep it Cool in Davis County

canstockphoto49147107One of summer’s greatest challenges is beating the heat. Don’t let those high temperatures and blazing hot sun get you down. Keep as cool as a cucumber this summer with these fun and reasonable options all located within Davis County.

Splash Pads

Ellison Park Splash Pad

Bring the whole family to enjoy a variety of water activities and features at the Ellison Park Splash Pad. The park and splash pad are located at 700 N 2200 W in Layton. This splash pad season runs from Memorial Day to Labor Day. The splash pad is open Monday through Sunday 9 a.m. to 9 p.m.

Heritage Park Splash Pad

Cool off with the family at the Heritage Park splash pad complete with playgrounds and a splash pad. This gem is located at 250 N Fairfield Road in Kaysville. This park is open year-round from 6 a.m. to 10 p.m. while the splash pad is open from Memorial Day through Labor Day. There also is a pavilion that community members can rent. Residents get a discount!

Legacy Park Splash Pad

This splash pad is composed entirely of fountains spraying out of the ground. The park is located at 1140 W 1100 N in North Salt Lake. This splash pad is also open from Memorial Day to Labor Day and operates Monday through Saturday from 10 a.m. to 8 p.m. and noon to 6 p.m. on Sundays. Note: Be prepared with other activities or visit the playground as the water shuts off for 15 minutes of every hour.

Aquatic Centers & Swimming Pools

Clearfield Aquatic Center

Cool off with family and friends at the Clearfield Aquatic Center. This indoor water park will be a splash. The center offers a lap pool, diving boards, playground, lazy river and waterslide. They are open varying hours Monday through Sunday. Admission for 3 and under is $1 while youths 4 to 17 is $3 and adults 18 and up are $5.50.

Layton Surf ‘N Swim

This fun-in-the-sun water park offers plenty of cooling options is no problem with Layton Surf ‘N Swim. This outdoor facility offers plenty of fun with lap swim, water aerobics, swim lessons, open wave, swim lessons and more. They are open year-round with a big bubble-like dome covering the facility during the winter. For hour and pricing information please visit their website.  

South Davis Recreation Center

Cooling off a little farther south in Davis County is no problem with the South Davis Recreation Center. This indoor facility offers both a leisure and lap swimming pools along with a waterslide complete with outdoor splash pad. Admission is $600 for adults and $4.50 for youth 3 to 17. The rec center is open varying hours. Please visit the website for more information.

Salt Lake Bees 2018 Schedule and Promotions

antoine-schibler-22813-unsplashThe Bees kicked off their 2016 season in April. They won their first home game on April 7 versus Sacramento 5 to 2.  

Smith’s Ballpark is home to The Bees and opened in 1994. The ballpark seats more than 15,000 fans. This season offers a variety of exciting promotional nights including themes, fireworks, giveaways and throwbacks. Monday is Smith’s Family Night where attendees get four tickets and four hot dogs for $20. Taco Tuesday offers two tacos for &2. For more information and a full schedule of their promotions this season click here.

The Bees provide abundant ticket options including season tickets, group tickets for parties of 20 or more and a range of options from diamond seats costing $27 on the day of to general admission tickets that are $11 day of. There aren’t any online ticket ordering fees and seats sellout fast. You can reserve your seats here.  

There are plenty of home games to catch this season:

DATE OPPONENT TIME
June 21 TACOMA 7 p.m.
June 22 TACOMA 7 p.m.
June 23 TACOMA 7 p.m.
June 24 TACOMA 1 p.m.
July 4 EL PASO 6:30 p.m.
July 5 EL PASO 7 p.m.
July 6 EL PASO 6:30 p.m.
July 7 EL PASO 6:30 p.m.
July 8 EL PASO 1 p.m. 
July 16 LAS VEGAS 7 p.m.
July 17 LAS VEGAS 7 p.m.
July 18 LAS VEGAS 7 p.m.
July 19 LAS VEGAS 7 p.m.
July 24 MEMPHIS 6:30 p.m.
July 25 MEMPHIS 7 p.m.
July 26 MEMPHIS 7 p.m.
July 27 NASHVILLE 6:30 p.m.
July 28 NASHVILLE 6:30 p.m. 
July 29 NASHVILLE 6 p.m.
July 30 NASHVILLE 7 p.m.
Aug 9 TACOMA 7 p.m.
Aug 10 TACOMA 7 p.m.
Aug 11 TACOMA 6:30 p.m.
Aug 12 TACOMA 6 p.m.
Aug 13 EL PASO 7 p.m.
Aug 14 EL PASO 7 p.m.
Aug 15 EL PASO 7 p.m.
Aug 28 RENO 7 p.m.
Aug 29 RENO 7 p.m.
Aug 30 RENO 7 p.m.
Aug 31 FRESNO 6:30 p.m.
Sept 1 FRESNO 7 p.m.
Sept 2 FRESNO 6 p.m.
Sept 3 FRESNO Noon

The Low Down on PMI

canstockphoto19869296Purchasing a new home or property involves many aspects including purchase agreements, contracts, inspections, appraisals, closing, escrow and more. As such, there a lot of acronyms used throughout the process. In this article, we explain what private mortgage (PMI) is, why it is required and how you can get rid of it.

When purchasing a home, you will likely make some form of down payment. In fact, when you make a down payment less than 20 percent, the lender requires that you carry PMI. Basically, it’s a policy that protects the lender from losing money if you end up defaulting on your loan. Lenders also require PMI when you refinance a mortgage with less than 20 percent equity.

PMI fees vary anywhere from .3 to 1.5 percent of the original loan amount per year depending on the size of the down payment and your credit score. Also, PMI premiums are tax deductible on certain years depending upon the whims of Congress. Most policies require that the borrowes pay monthly. However, borrowers also have the option of paying for mortgage insurance with a large upfront payment.

How to ditch PMI:

The lender must automatically cancel the PMI when your outstanding balance drops to 78 percent of the home’s original value. Keep track of your payments because you also can ask that the lender discontinue the mortgage insurance premiums when the balance reaches 80 percent of the original value. Although, both of these options will probably take several years.

You can speed up the cancellation two ways; however, both options require money, time and patience.  First, you can make double payments on your mortgage ensuring you reach the 80 percent mark in at least half the time. Next, you can make improvements to your property and refinance at opportune moments. This option can potentially raise the original value of your home to where you already have 80 percent equity.

7 Utah Summer Vacation Spots to Try this Summer

cameron-kirby-326348-unsplashMay flowers have started blooming. Soon the school bells will stop ringing and summer vacation will be here. Let the trip planning begin. Traveling on a budget? No worries, we’ve compiled a list of destinations right here in Utah for your next staycation.

Zion National Park

This majestic park offers a wide range of lodging accommodations and recreational opportunities. Travelers can rent cabins, vacation homes and camp sites. They can enjoy horseback riding, hiking, climbing, jeep tours, trekking, swimming, zip lining, ATV rentals, guided trips and more. Zion National Park a nature preserve distinguished by steep red cliffs, forest trails and the Virgin River flowing into the Emerald Pools should be on everyone’s must-see list.

Lake Powell

Lake Powell is a beautiful reservoir on the Colorado River. The lake straddles the Utah-Arizona border and is visited by more than 2 million people each year. Travelers can enjoy hiking, climbing, rappelling and even boating through Utah’s southern canyons. Others also enjoy camping and fishing. Lake Powell is located close to scenic destinations such as the Grand Staircase in Escalante National Park and Goblin Valley State Park.

Arches National Park

Arches National Park produces water and wind carved wonders. There are more than 2,000 named arches within the park. Travelers can enjoy a variety of activities including hiking, guided tours, rafting, rock climbing and rappelling, camping and mountain biking.

Uinta-Wasatch-Cache National Forests

Covering more than 2.1 million ecologically diverse acres the Uinta-Wasatch-Cache National Forests cater to just about everyone with world-renowned skiing and scenic highway cruising. We recommend the Mirror Lake Scenic Byway. Travelers also can go rafting, fishing, boating, camping and hiking.

Flaming Gorge

Flaming Gorge offers seemingly limitless recreation activities without all of the people! With an average temperature of 78 degrees, beautiful scenery and crystal-clear waters, one would expect people to flock to this little paradise− but they don’t. 

Capitol Reef National Park

Go glamping in Capitol Reef National Park. Don’t like roughing it? No problem, luxury cabins, teepees, wagons and comfort await at the Capitol Reef Resort. Million dollar views, rich geological history and sensory overload make this national park a great escape from the everyday grind.

St. George

This Southern Utah city provides the perfect basecamp for multiple national park trips. Bryce Canyon is just two hours away while the Grand Canyon is three. For those who aren’t as enthusiastic about the outdoors, you can enjoy a spa treatment, play, shopping, eating and even gallery hopping.