The risks of selling and buying on your own

Northern Wasatch Association of Realtors Advice

In a world where Pinterest, online videos and specialty blogs encourage you to try any number of projects, it’s easy to think you’re up to any do-it-yourself challenge. While some projects are low-risk, like trying a new recipe, others, like shingling your roof, can cause serious problems if done without the proper expertise. Buying and selling a home are activities that fall into the latter category. Without the experience of a real estate agent who knows your neighborhood, you risk losing thousands of dollars. Or you could find yourself in a lawsuit because you didn’t understand your legal responsibilities. Here are just a few of the costly mistakes that “do-it-yourselfers” risk making:   Buyers Paying too much Just because a …

What will higher interest rates mean for home buyers?

Northern Wasatch Association of Realtors Advice

With the recent jump in mortgage rates, some would-be home buyers are wondering what the higher rates will mean for their purchasing prospects. Throughout 2016 rates on 30-year mortgages have remained under 4 percent or even 3.5 percent. In the remaining weeks of the year, however, rates on 30-year mortgages have steadily increased into the 4 percent range. With an improving economy, experts tell home buyers to expect above 4 percent to be the new normal. Inflation is on the rise and with it long-term interest rates are likely headed up. In fact, the Federal Reserve recently raised the all-important federal funds rate at its December meeting and likely will increase the rate several more times in 2017. While the …

2017 Real Estate Forecast

Northern Wasatch Association of Realtors Advice, Update

Despite tight housing supplies and rising home prices, buyers still flocked to the housing market, making 2016 one of the best years ever for home sales and setting the stage for strong real estate conditions in 2017 and 2018. The National Association of REALTORS is predicting 2016 will be the best year for U.S. home sales since 2006. In Utah, if the pace keeps up, 2016 will have the most real estate transactions ever on records dating back to 2003. In Northern Utah, Weber and Davis County sales increased about 4 and 2 percent, respectively, for the first nine months of the year. That’s up from a very strong 2015. Moving forward, experts forecast 2017 should have even more transactions. …

Avoid Home-Buying Horror Stories

Northern Wasatch Association of Realtors Advice, Update

It may be the time of year for ghosts and goblins, but buying a home, no matter what time of year, should never be scary. Here are steps to avoid haunted houses and stay safe while buying this fall. Buyer beware In many areas, sellers have the upper hand in today’s real estate market. Even though you may be tempted to close a deal as fast as you can to beat out other buyers, make sure you know what you’re buying before you rush to the closing table. During a real estate transaction, you have time to conduct a number of inspections before you purchase the property. Make sure you put in the time and money to do these before …

Self Defense for Realtors

Northern Wasatch Association of Realtors Advice

Working in real estate can be dangerous. There has been increasing number of attacks on real estate agents in America. According to the Bureau of Labor and Statistics, the industry has seen an average of 77 work-related deaths per year from 2011 to 2014. You can arm yourself with a healthy dose of skepticism and mistrust. As an agent you might be an easy target and here’s why: You are expected to meet anyone at any time potentially alone. Real estate is the only business that publicly announces, “Hey come on in! I am going to be alone in an empty house all day!” Real estate agents have a certain reputation including an image of wealth. Now is a great …