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Monday, July 28, 2014

Mortgage Tip: 10 Great Questions To Ask Your Lender

1- Will you provide me some real estate agent references?

2- Does your firm underwrite their own morgtages?

3- Is your company FHA approved?

4- Explain APR to me so I can understand it.

5- How often has rates been changing in this markt?

6- Do I need a 30 year fixed, or another type of loan?

7- Why should I use you?

8- Should I put a minimum down payment?

9- Will you explain the benefits of up front Mortgage Insurance?

10- How much home do I qualify for, even if I want to start with a lower number?

Friday, July 25, 2014

So You Want That Home To Sell - 15 Things you can do.

There are things you can do, after all it is your home. The painting should have been done before it went on the market. The staging is done. This post is to remind you of what to do when it's on the market. So now that it's on the market here are some things you can do.

  1. Make sure the flyer box is full. No matter how diligent the agent, it will run out while he or she is gone. Then you should keep an eye on the box, have extra flyers on hand, and keep it full
  2. Make the beds every day.
  3. Keep the home in showcase condition
  4. Be prepared to head out on a moments notice. That drop by may just be the right buyer.
  5. Leave the lights on. The extra cost is going the extra great mile.
  6. Make sure the toilet lids are all down.
  7. Keep all curtains and blinds open all day to let in all lights and views.
  8. Before you leave the home, stand in each doorway and look at the room through the eyes of the buyers. What do you see that is a distraction?
  9. Check on all light bulbs, replace those that are burned out.
  10. Take the dog with you, and Boa Constrictor too.
  11. Don't leave valuables around.
  12. If your plants don't look healthy now, prune them or can them. You know what can I'm referring to.
  13. Is the fireplace and fireplace glass clean? Just clean it ok?
  14. Be sensitive to odors, oh this is a big one.
  15. Is there junk lying around? Remove it or lose it - the buyer I mean.


Tuesday, July 22, 2014

Presenting Your Home For Sale Part 5

by Kathleen Cragun
The homes below are NOT STAGED,
they are from my portfolio many years back. But, they are an example of what I am talking about in the previous post:
Everything that is left now needs to be moved, arranged, and accessorized. What to put in, and what to leave out? Where to hang the pictures and how high for the best effect? A tip here, don’t hang pictures at LeBron James’ eye level! A common mistake is hanging pictures too high where they have no connection to anything else. While you want to keep it simplified this doesn’t mean it needs to be boring and bland. Don’t just line furniture up around the room. How things are arranged in groupings and with just the right choice of accessories and accents are the key. I am realizing I can do it, but it isn’t something I can easily explain and tell you how to do. I guess that is why it is the rocket science part of staging!
I would edit and simplify if I were to stage these for sale, especially that secretary in the French family room. At the time I was trying to make it looked lived in!


 
 
  

 

 

Monday, July 21, 2014

Downtown Salt Lake City Summer Treats

Concerts in the park. Tuesdays and Thursdays at 7:30 PM June, July and August. And to top it off, it's free. It is pleasant and fun. Come join in. Below is this summers schedule. Double click the photo and it enlarges to full size.

Thursday, July 17, 2014

56% Of The Condominiuns In Salt Lake Have Either Dropped Their Asking Price and/or Have Been On The Market More Than 120 Days

Referring to those currently on the market
              If you know someone in this spot....
                               ask them if it seems like they are going nowhere fast.


There is a reason for this and a way to overcome it.
                      Lowering the price is the easy way out.
                                       Sticking it out is painful.
                                                              I would be glad to explain how to deal with both issues.
                                                                                  larry@cragun.net  801-923-4735

Wednesday, July 16, 2014

It's A Tough Fight Out There In The Salt Lake Real Estate Market.

There are about 1/2 as many homes on the market in Salt Lake City now as compared to last year. There are also about 1/2 as many people touring  homes. The inventory is low. Homes stay on the market for way too long, at least most do.

So here are 10 lessons to learn.

Sellers:

1- There is traffic, just not as much. You must do everything right in marketing your home. You need not succumb to plan A. Plan A is discussed in other articles. Check in on the marketing your home section for more on plan A.

To be more specific on some issues take note:

2.- The photos that are placed on line are critical. People are shopping on line first. Your great home might be tossed without a viewing based on a bad photo.

3- It must knock their socks off when they enter your home. At lease it must not scare the daylights out of them. You know what I mean. (I actually toured a home once that had a boa constrictor in a visible place. That did result in a quick exit for us.) Hint: no boa constrictors, no scary posters, no weird paint colors). Oops, now I am getting into Kathleen's territory. Just take the time before you list to get your home presentation right. Check on the series of articles that Kathleen posts here on staging. It is amazing what you can do, and sometimes really must do in this vein.

4- Understand the price range of your competition. There is no just one exact price. The proof of this claim is in looking at how many homes are both coming down in price and how many sell below asking price. Understand that lack of offers make prices go down, multiple offers causes prices to rise. Here is where my plan B comes in, more traffic means more potential offers. I will be showing sellers pricing to the market. We will be discussing the range of the competition currently for sale in the market. Of course we will review what has sold, and how long it took to sell. We will be making a marketing strategy to seek the high end of the market for their sale.

5- Make it easy for agents to show your home. Ninety seven to ninety five per cent of homes that are sold are sold by a different agent than listed yours. When they embark on a tour, if you make it difficult, they often take you off their show list. I write about this in other Sales Prevention Articles posted here. Some agents are so anxious to get listings they ignore pushing discussion about sales prevention issues. Not me. I just saw a nearby listing expire. I am guessing that the agent is losing the listing. The client is likely unhappy. I know that they implemented a huge sales prevention problem. Even though the home is empty there was no lock box, and the only way for the other agents to show this home was to have a co-agent let people in. I've been aware of this for awhile and keep thinking, "how dumb is this". It's inexcusable.

Buyers:

6- The lack of listings is resulting in what we call a lack of great inventory. Although I paint a grimmer picture just know that last month a few homes flew right off the market. How cherry you want might mean a quick trigger must be pulled. This is not so in every situation and every price range.

7- Know the numbers or deal with an agent that knows the numbers. By this I mean, what is happening across the board in your price range Know what is the percent off asking price in that price range and community.

8- Know what communities you like. Driving neighborhoods is a good thing.

9- If you want to make an offer be in a power position. For several years I had the mortgage business of one of the top producers in our market. He was a tough fighter for his clients. I was able to help his buyers make strong offers. I understand how to do this for you. That is why I choose the lenders I do to work with. Your lenders approval can have a big impact on the response to your offer.  Make it a strong offer.

10- This month is typically a slow month. Those who have children in school have purchased so they can be in their new home before school starts.

Downtown Salt Lake City Farmers Market


Buy Fresh, Support local, and enjoy the summer produce. The downtown 2014 Salt Lake City Farmers Market opened to a large crowd on June 14. Enjoy the early summer crop of asparagus, carrots, snap peas, greens, spinach, herbs, radishes, spring onions, garlic scapes, strawberries, beets, beans, and more.

Community sponsors: Amour Spreads, City Weekly, Discrete Headware, Harmons Neighborhood Grocer, KCPW, 90.9 FM DRCL, KUTV, Laziz Foods, LDS Hospital, Liberty Heights Fresh, Mountain Town Olive Oil, People Water, Q Salt Lake, Rico Market, Rocky Mountain Power, Blue Sky Renewable Energy, Salt Lake City Arts Council, Select Health, SLUG Magazine, Squatters Pub Brewery, Tulie Bakery, and Winder Farms.

visit their website at http://slcfarmersmarekt.org/

Tuesday, July 15, 2014

Utahns' satisfaction with downtown Salt Lake City is on the rise


Deseret News: July 11, 20014

For George Thaut, living in downtown Salt Lake City brings vibrancy to everyday life.
"I've always loved being in the city," Thaut said. "I love being in the center of everything. … There's so much to do here and it's all so convenient."

Mark Rogers, an equity real estate agent for Clearwater Homes, says he hears similar expressions from others living downtown.

"I think they find the size of the city is big enough to have interesting things going on all the time, but small enough that you don't feel like you're lost in the city," Rogers said. "You feel like you have a sense of belonging, a part of something."
A recent survey by the Downtown

Alliance showed that 52 percent of Utahns feel a sense of ownership and connection with downtown Salt Lake City — up 8 percent since last year and 18 percent since 2009.

You can read the entire article by clicking here

Monday, July 14, 2014

How Does A Customer React To A Home That is Staged Poorly?

People can react like this!.
So many times the decision is made the moment they walk in.
Presentation is important.
Check out the regular articles by Kathleen under the category "Staging" These articles are meant to be a help to anyone preparing their homes for sale. Those who list their home with me get her personal attention. I can tell you from experience that many of my clients have put more money in their pocket by following Kathleen's counsel.

We take great efforts to expose your home to buyers, doesn't it make sense to make a great impression. This principle also applies to how your home is presented in photographs. There are websites out there focused on making fun of ugly agent pictures. Don't let yours be one of them.



Wednesday, July 9, 2014

They Made Me An Offer I Couldn't Refuse

My objective is to provide buyers and sellers superior results. I am one of those agents that believes that the agent creates his or her success, not the broker or company we might be licensed with. Over the years I have been licensed with the nations largest real estate company, I have been a loan officer inside one of the largest local real estate companies. I had my own small real estate company and my own very large mortgage company. I have been the real estate director for a developer.
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With confidence I selected a company to license with that rewarded my expertise by providing me almost all of the commission. That confidence included believing I had the tools necessary to provide the success my clients needed.
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Then along came MediaOne Real Estate. What you can offer is especially measurable in selling, or listing, a home. I offer terrific tools and service for buyers. When it comes to marketing a home there are numerous factors that determine the success. When homes aren't shown sellers end up being pressured to lower their prices. Simple things, such as the photos that are taken can eliminate great prospects. Difficult things like driving traffic require numerous strategies.
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I would say that I had almost enough, an approach beyond many. And then along came an invite to understand MediaOne Real Estate. They use the shortcut M O R E. They offer more. How do I say it? My old confident situation has been overshadowed by new potential situation.
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Just to name a few: 1- Newspaper advertising. My clients homes will be advertised each week, in full color in both The Deseret News and The Salt Lake Tribune. Statistics suggest that only 7% of buyers come from a home advertisement in the newspaper. That is important if your buyer is one of the 7%. MediaOne listings are on the market fewer days, therefore less likely to suffer price reductions, than the average in the MLS. 2- My listings will be Showcase Listings on Realtor.com. This is important as Realtor.com is the nations # 1 volume home search website. The more expensive showcase listings come to the top in searches, a big big deal. 3- I had over 30 websites I was setup to forward my listings to, now I have over  50. Perhaps the right buyer is in one of the other 20. 4- I have a support team, transaction coordinators to make sure the paperwork and deadlines are all up to snuff. Any concerned agent will be detailed oriented, but additional eyes and hands are valuable. 5- Each homes I list will be photographed by a professional photographer. Add this to Kathleen's staging and design skills and we have a winning combination.
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These are just five. I mention them as part of an offer I couldn't refuse. And why I couldn't refuse is simple, they do a better job for my clients. If it's better for them it's better for me. No wonder I couldn't refuse.
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So don't be confused. I have a lot of marketing pieces out there. They have my old brokerage, a good company as part of the advertising. New ones are soon to go out. It's a good thing.