Which real estate investment is right for you?

Northern Wasatch Association of RealtorsAdvice

Northern Utah’s housing market is booming. In only a year, home values in Davis, Morgan and Weber counties increased more than 12 percent. In both Davis and Weber counties, the median sales price is about $30,000 higher than last year, according to the Utah Association of Realtors’ July report. In the rental market, rates are up 6.5 percent in Salt Lake, according to a report from Cushman & Wakefield. While the record-low vacancy rates are likely to head up, experts still expect rental rates to grow about 4 percent in 2018. In light of the increases in both housing prices and rental rates, you may be thinking about buying some real estate as an investment. Even though the gains won’t …

How to Sell A Home in Utah That Is In A Revocable Living Trust

Northern Wasatch Association of RealtorsAdvice

Revocable living trusts are an excellent way to help protect your assets, especially your home or other real properties in Utah. You can either appoint yourself the trustee or name a third party to take care of your assets and inheritance wishes. In either case, the person responsible for managing the trust can sell a piece of property that is held in the trust. Whoever the trustee is, that person is authorized to make all of the necessary arrangements associated with property ownership. This includes handling maintenance and repair needs as well as placing it on the market. If the property is held in a revocable living trust, it can be sold by using a purchase and sales agreement which …

The price is right: Tips for setting a list price

Northern Wasatch Association of RealtorsAdvice

When putting a home up for sale, one of the most important tasks is making sure the price is right. Set the price too low and you risk losing thousands of dollars. Price your home too high and it could languish on the market. That’s problematic since homes with the biggest discounts typically are the ones that stay on the market longest, according to Realtor.com. It’s also important to get pricing right so you don’t miss out on potential buyers who are looking in price ranges close to yours. To navigate the dangers of over- and underpricing, here are five tips to help you get it right: 1. Don’t set the price based on what you paid Over the past …

Have a Heart Homes Helps Address the Crises in Affordable Housing

Northern Wasatch Association of RealtorsAdvice

Readers of this column and those of you who have been following other numerous media reports over the past few months know that there is a critical shortage of affordable housing in northern Utah. In fact, one recent report shows that Utah has a need for 43,000 affordable housing units, posing an almost insurmountable challenge. And while the affordable housing crises is especially acute right now, your local Realtors and Home Builders have been addressing the situation since 1998 with our Have a Heart Homes non-profit foundation. Nearly every year, Realtors and Home Builders in Northern Utah have secured an affordable lot, engaged a home builder, and raised funds to help offset the costs of construction. The general contractor and …

Navigating the Housing Shortage

Northern Wasatch Association of RealtorsAdvice, Update

Utah is one of the fastest-growing states in the nation. While that’s great news, it also means it’s a challenge for the supply of homes to keep up with the demand. There’s a housing shortage, and affordability is a big concern for those wanting to buy. A recent Associated Press study analyzed five years of data and found there’s a growing shortage of affordable housing in the Beehive State. Utah has reached the 3 million population mark and has one of the best economies in the nation, yet that growth has pushed up prices and limited the number of homes for sale. There was a five-year decline in housing inventory between 2012 and 2017. In Salt Lake City, the drop …