It’s The Holiday Season! Top 10 Reasons to List Your Home During the Winter Months…

 

For some reason, people run from selling their home in the late months of the year, like it’s the plague…

Yes, it’s a busier time of year with the holidays, traveling and entertaining.  And, yes, in Utah, the inclement weather can make keeping a home clean a little bit difficult.  Selling and buying a home during November and December can present challenges that many other months of the year do not.

That being said, there are actually many benefits to getting your home sold and looking for a new home while many people are thinking (and doing) the opposite.

To help you get a leg up on your competition and advantage in the whole process this time of year, we at The Brownstone Partners have put together a list of 10 reasons why you may want to get your home on the market – and SOLD – during the next couple of months.

None of these ideas are earth-shattering, but they do make a whole lot of sense!

1. Your home will show well when it’s decorated for Thanksgiving and Christmas. The magic of the holidays and the warmth of the seasons make your home more appealing.

2. Many companies manage their budget on the calendar year and transfer their employees during January, which make November and December prime looking months for them.

3. The buyers looking in your town, from your town might just be looking for a gift for the whole, entire family.

4. If someone is out looking for a home during this time of year,he/she tends to be a more serious buyer.

5. Your quantity of buyers through your home may dwindle, but the quality of your buyer prospects will increase exponentially.

6. There is less competition among sellers during this time of the year, giving you the opportunity to negotiate a better price for your home with fewer options available for buyers.

7. It’s your home. Set showing dates and times when it works best for you and your family. Give yourself time to enjoy the holidays and still show your home.

8. Lenders have buyers who need to buy homes to grab a good rate before the year ends…especially if rates go up during November.

9. Again, it’s your home…no need to do any open houses if you don’t want to.

10. Since many of the people looking at your home would want to close after the holidays, you’re likely going to be able to pack after the holidays and move at a time that works for everyone.

Drop by our office at 1565 E 3300 South and we’d love to discuss your home with you!!

“Going Green” is Happening FAST…

Can you believe we’re more than halfway through 2011?  I mean, it’s almost football season!  It’s almost Christmas!  Ok, not really, but you get the point.  And remember in 2008 when we thought “going green” was a long ways away?  We’re more than halfway to 2014 when it’s projected that energy-efficient expenditures will reach $50.2 billion!  What?!  This is according to the new Energy Efficient Homes report by Pike Research in Boulder, Colorado.

The amount it costs to install a solar water heater and solar panels is between roughly $15-$20k.  But more and more homeowners are doing this, in hopes they’ll be reimbursed when they’re selling, let alone the money is saves them on the gas/electric bills.  Another reason they project that we’ll reach $50.2 billion is that the government gives federal tax credits for “going green.”

Are we really that close to having most of our homes run on solar panels and those curly light bulbs?  Sure, it’s expensive now, but it will definitely become more affordable once the economy is back to “normal” and eventually become the norm in households across America.

What an intriguing concept and we’re always trying to learn more about!  Write on our facebook page and tell us what you think – http://www.facebook.com/home.php#!/pages/The-Brownstone-Partners/254243206638

Now for the important info…….. We’d like to congratulate a few of our clients that have made 2011 our best year!  Homeownership is always a huge step in life…

Linda Malouf

Devin and Marcie Bunker

Stratton and Liz Christensen

Mike and Elizabeth Rice

Brooke Bowen

Ron, Nan and Tina Gray

Dave Eschenfelder

Chad Farr and Kelly Hanks

Drew Ehrgott and Sarina Villareal

April Hollingsworth and Dan Alix

Shane and Amy Lunt

Thank you all!  And if we’re working with you now, we’ll find something real soon with the rate are still low! We’re greatful to have you as part of our lives and CONGRATULATIONS…

Check out the great events this week in SLC…

I was looking for some different things to do this weekend…and ran across a great website that I’ve bookmarked called www.NowPlayingUtah.com .  It has all kinds of detailed events going on in Salt Lake City such as Sports & Outdoors, Film & Video, Theatre, Kids & Families and Festivals & Special Events to name just a few.  There are lots of FREE stuff too.  You’ll never want for something to do anymore! 

It’s all there except for our list of open houses for the weekend…they can be found at http://www.thebrownstonepartners.com/open_house_calendar.asp .  We’ll post our opens later today!  If you’d like a list of all the open houses in a particular area just let me know at Brad@TheBrownstonePartners.com and I’ll send them to you immediately…

Last week we talked about Seller Financing and the unbelievable benefits that it brings to the table for your real estate transactions.  We’ve since aligned ourselves with a real estate attorney at 1st National Title, Jax Petty.  He’s extremely knowledgeable about the many different ways that Seller Financing can be structured for the Buyers and Sellers in Salt Lake City.  He can be reached at Jax@1stnationaltitle.com .  Tell him Brad Morris from The Brownstone Partners Real Estate Co. told you to contact him…

As technology changes…we’re constantly adding new marketing strategies to give our clients the utmost exposure to our listed properties, along with information to our buyers to negotiate the best possible prices and terms.

Thanks for coming back every Tuesday and Friday…it’s time to go sell some houses!

Seller Financing – A More In-Depth Look

On Tuesday, we ventured into an alternative form of financing that most buyers and sellers in Salt Lake aren’t too familiar with:  Seller Financing.  Today, we’ll look at this unique option a little closer…

As we know, qualifing for a loan through a bank today is far different than it was a few years ago.  Banks are much more stringent, our jobs aren’t as secure, we just started new jobs, our credit scores need to be immaculate, etc.   One method of obtaining such a large loan (like buying a house) is asking the Seller to act as the bank.  This eliminates a lot of paperwork, protects both the Buyer and Seller, allows for a quick Settlement, eliminates expensive bank closing charges and can be beneficial for everyone involved!

When we say it cuts down on paperwork, you still must have representation to ensure you have the right terms, content, structure, forms, negotiation and understand the future use of this financing alternative.  While there is no such thing as “no risk”, the Seller has very little risk.  Yes, a Seller should ask for a substantial down payment.  Yes, the Buyer can still default on the loan, just like a bank.  From the Buyer’s prespective, they will be able to close more quickly and with no tight qualifying guidelines.  They will, however, have to qualify with the Seller. 

The wheels of our economy will continue to turn.  Seller Financing was used a lot in the 1980s when interest rates were astronomical and a lot of buyers had a tough time qualifying, much like today.

This link, http://www.thebrownstonepartners.com/creative-finance.asp gives you a real-life, detailed scenario and more information.

Thanks!  See you next Tuesday and Friday… we need to go sell some houses!

Have You Ever Heard of Alternative Financing?

Thanks everyone for coming back to review our blog…

It will always be structured and dedicated to be all about real estate information that is or will be important to You right now in Salt Lake City…

Have you heard of alternative financing?  This type of financing could be, say, a lease option, hard money loan, a contract for deed, or perhaps an all-inclusive trust deed.

These forms of alternative financing are not new…as a matter of fact, they’ve been around for many years.  Many people that are currently in the buying, selling, or soon to be buying and selling real estate market have never heard of these forms of financing.

But alas…there are two of them that are going to make a huge comeback across the nation as well as right here in Salt Lake City and the surrounding areas.

They are simply called Seller Financing. One is called a “Contract For Deed”, and the other is an All-Inclusive Trust Deed.

There are many, many people that have been hurt by the economy the last several years. Their FICO credit score might not be as strong as it once was. Their job status is still very good…they have very strong down payments, but the tight lending/credit market will not give them the financing they need to buy a home! Thus…homes are not moving like they should be!

The Brownstone Partners believe that seller financing will become more and more prevelant in the months and years ahead.

Check back here every Tuesday and Friday…as we will be addressing what this type of financing is all about.  We believe it’s going to be a very important link to generating more sales and purchases for the people in our great city!

Click the link below for more information…

http://www.thebrownstonepartners.com/seller-financing.asp

Buyers’ Special Report

There are so many factors to take into account when you’re thinking about buying a home.  If you’re reading this, you already knew that!  With the crazy times in today’s real estate market, it’s crucial you know the most important factors to consider.  This is actually the time where you’re making money when buying the right home at the right time…

• Understand your NEEDS vs your WANTS

               Does everyone want a mansion?  Sure, they’re big and there’s a lot to do in there.  But nobody really needs a mansion… unless you’re D. Wade:

               The important thing is to realize what you’re buying and how long you might be there.  What’s the resale situation?  What are the neighbors like?  Does it have adequate square footage / bedrooms / baths / lot size?  Think about it…

 

• Realize what you can afford

               If you’ve played Monopoly, you realize that if you over-extend yourself, you’ve lost.  Talk with a lender first to see what’s realistic before you fall in love with a house.

• Talk with a great lender to finance your purchase

                Any lender worth their salt will be honest in what you can afford.  You’ll need to choose wisely, though, to make sure this lender doesn’t lead you down a path you’re going to regret.  This happened a lot between 2004-2006.  (Hint:  why do you think the short sale and foreclosure rates are through the roof?)

• Learn how to evaluate the homes you look at

                Compare and contrast what you’ve seen.  Look for issues that may come up during inspection.  Look for a solid floor plan that may appeal to the masses when you’re selling.  Look for an adequate sized yard, bedrooms, kitchen, etc.  Remember, your NEEDS vs your WANTS!

I hope this was helpful the next time you’re looking to move.  These are just a few tips to think about.  There are PLENTY MORE!  Have a great weekend and enjoy the NFL Playoffs.  You know we will…

Click the link below to get the 8 Secrets to Saving While Buying a Home:

http://thebrownstonepartners.com/8-secrets-to-save.asp

It’s 1.11.11 Today…

…which reminds me of the 11 Things You Need to Know to Pass Your Home Inspection!

Homebuyers want to know your home inside and out.  When you put your home on the market, you don’t want any unpleasant surprises that could cost you the sale of your home.

Will the roof end up leaking? Is the wiring safe? What about the plumbing?

By having an understanding of these 11 problem areas as you walk through your home, you’ll be arming yourself against future disappointment…

According to industry experts, there are at least 33 physical problems that will come under scrutiny during a home inspection.  We’ve identified the 11 most common of these and, if not identified and dealt with prior to listing your home…any of these 11 problems could cost you dearly during the buyers due diligence period.

Contact us anytime for more information so we can help you avoid these deal breakers!

Brad@TheBrownstonePartners.com or Tony@TheBrownstonePartners.com

Forbes Magazine said it Best about Utah: “The Best State for Businesses”

We all knew this was a great place to grow up, raise a family and retire. But to know that a magazine like “Forbes” is recognizing our state as an incredible place to start a business helps us realize where we are in relation to the rest of the country. In October, 2010, Utah added 16,500 new jobs, up 1.4 percent from 2009. “Wow” is the only thing you can say as the rest of the states are still in flux and trying to catch up.

Just a month ago, Gov. Gary Herbert was featured on NPR is a series called “Show Me the Recovery.” He mentioned that our income tax rate was reduced from 7 percent to 5 percent, putting more emphasis on education, while still maintaining our fiscal prudence as a government.

This should all be a great sign of things to come for our state’s economy. As a result, our real estate market will most likely continue to be strong. Most buyers should continue to pursue the home they’ve always wanted. This should keep all the sellers, that either need or want to sell, happy!

We’ll be posting a blog entry twice a week, but in the meantime, stay in touch with us via facebook, twitter or linkedin!

(all information directly from “Salt Lake REALTOR” Magazine, December issue)

A little food for thought…

“When should I buy?”  That’s the question we’re asked the most about Real Estate.  That’s the age-old question when contemplating your Real Estate ventures… And the answer?  It’s always different for everyone.  It depends on your answers to questions like: Am I ready to move all my belongings?  Am I in the right equity position to sell?  Am I ready to take care of a yard and fix appliances/sprinklers?  Can I afford it?

Asking and sold prices in the Salt Lake Valley have dropped around 5% (about 10% is some areas) since 2007.  This gradually happened when the media and consumers thought the sky was falling.  “The stock market is killing me”; “I think I’m going to get laid-off”; “I’m better off renting” are a few of the sentences we’ve been uttering and hearing for the last two years.  The stimulous package for first-time home buyers and move-up buyers helped stabilized the market in April, but now what?  The market as slowed down, but not considerably…

The government has allowed the market to stabilize by keeping the interest rates down.  And by down, we’re talking about historic lows!  I saw this morning that a mortgage company is offering 4.25% on both a 30-year fixed rate conventional loan and FHA alike.

To keep this market moving, we’re all in this together.  If it is feasible for you to make the move, our advice is to do it now.  The prices will always fluctuate but if you can lock into a great rate, you’ll save yourself tens-of-thousands over the period of the loan.

Thanks for reading and we’ll update you periodically on what the market is doing in you area!  If you want monthly updates on Active/Under/Sold in your neighborhood to keep you up to speed, check out our Market Snapshot at: http://www.homeinsight.com/Widget/default.asp?0UPRL2Z280A3 Great information and won’t bother you unless you want it!

And here is a great article in the NY Times from a couple months ago, but probably more pertinent than ever right now: http://www.nytimes.com/2010/04/11/business/economy/11rates.html

Call us with any questions or to talk about life!

The Brownstone Partners 801-278-1555 Brad@TheBrownstonePartners.com Tony@TheBrownstonePartners.com