Hot Markets and Useful Real Estate Information

The Real Estate Market Is Finally Turning Around

Alan Barker (Boomerang Leads) — Thu, 24 Jan 2013 02:18:03 -0800

I began my real estate career in 2005, right when the market was starting to bubble here in Utah. After two years of plenty, and easy real estate, it seems like the market has been in decline mode ever since. Well. 2013 looks like things are actually, finally, changing. Local real estate inventory is at its lowest levels in years, and we might even see home prices increase this year! Mortgage interest rates right now are at all time lows (still). But with positive economic news on the Horizon, these rates will likely start rising soon. I'm sure they'll stay at relative lows, but compared with the sub 4's we see right now, they will go up. It's exciting to finally think about real estate appreciation again, and the financial benefits of home ownership. If you're looking for homes for sale in the Logan Utah area, check out our new home search website for Boomerang Real Estate.

Disaster Preparedness

Alan Barker (Boomerang Leads) — Mon, 09 Jul 2012 05:44:04 -0700

Wherever you live, there is a chance of a natural disaster striking, this is inevitable. It is important to be fully prepared for any sort of disaster. It may be expensive to be prepared for any home disaster, but it's better to be safe than sorry! Below are some things to consider when preparing for a disaster: Evaluate the types of hazards that could pose a threat to your home and family. Select a safe room within your home or community. Remember, you may not be home when disaster strikes, so it's a good idea do know somewhere safe you can go if you aren't home or can't go there. Ironic or not, an example of this is a community church. Have an escape route and meeting point for fires, as well as other disasters. Again this could be a church, grocery store, or gym. Set up contacts that are out of state. These can be either relatives or close friends. Have emergency telephone numbers by all phones, and make sure that your children are "911 trained". It's always great to be prepared! Take all the preparedness classes you can. Examples are First Aid, CPR, and disaster preparedness. Have emergency supplies accessible, and ready to transport if needs-be. (see more below for NOAA suggested items to have in your emergency supplies kit). Be knowledgeable of your home insurance coverage. Flood damage is oftentimes not included by homeowners insurance. Stay up-to-date on current weather reports and warnings. Below is a list from the Ready.gov site of a recommended family supply list: Emergency Supplies: Water, food, and clean air are important things to have if an emergency happens. Each family or individual's kit should be customized to meet specific needs, such as medications and infant formula. It should also be customized to include important family documents. Recommended Supplies to Include in a Basic Kit: Water, one gallon of water per person per day, for drinking and sanitation Food, at least a three-day supply of non-perishable food Battery-powered radio and a NOAA Weather Radio with tone alert, and extra batteries for both Flashlight and extra batteries First Aid kit Whistle to signal for help Infant formula and diapers, if you have an infant Moist towelettes, garbage bags and plastic ties for personal sanitation Dust mask or cotton t-shirt, to help filter the air Plastic sheeting and duct tape to shelter-in-place Wrench or pliers to turn off utilities Can opener for food (if kit contains canned food) Clothing and Bedding: If you live in a cold weather climate, you must think about warmth. It is possible that the power will be out and you will not have heat. Rethink your clothing and bedding supplies to account for growing children and other family changes. One complete change of warm clothing and shoes per person, including: A jacket or coat Long pants A long sleeve shirt Sturdy shoes A hat and gloves A sleeping bag or warm blanket for each person Family Supply List (continued) Below are some other items for your family to consider adding to its supply kit. Some of these items, especially those marked with a * can be dangerous, so please have an adult collect these supplies. Emergency reference materials such as a first aid book or a print out of the information on www.ready.gov Rain gear Mess kits, paper cups, plates and plastic utensils Cash or traveler's checks, change Paper towels Fire Extinguisher Tent Compass Matches in a waterproof container* Signal flare* Paper, pencil Personal hygiene items including feminine supplies Disinfectant* Household chlorine bleach* - You can use bleach as a disinfectant (diluted nine parts water to one part bleach), or in an emergency you can also use it to treat water. Use 16 drops of regular household liquid bleach per gallon of water. Do not use scented, color safe or bleaches with added cleaners. Medicine dropper Important Family Documents such as copies of insurance policies, identification and bank account records in a waterproof, portable container Reference:Ready.gov

Container Gardening

Alan Barker (Boomerang Leads) — Fri, 06 Jul 2012 02:15:01 -0700

Need to spice up your yard? Or maybe you are short on space and want to grow your own fresh plants. Well stop dreaming of the day when you move to a home with a larger yard, becuase you can garden with containers! Container gardening is an easy way to grow veggies, fruits, and herbs. Not only are they east, but they are also very decorative and can help and some pizazz to your yard. Follow these simple steps and you will have a successful container garden! Plan.Not all plants grow good in containers, so find out which ones do. Also, observe how much sun the spot you are looking to put your containers gets. This will also effect the type of plants you garden. Water.Just like a normal garden, container gardening requires good soil and good drainage. Ensure that your pots have good drainage. Just enough to allow seepage, but not let soil through. You can drill homes in your container yourself if needs be. And if the holes are too big, then take some mesh or a screen and place it in the bottom to help keep soil in. Design.Judy Kameon, a landscape designer has some great suggestions of how to design your container garden: Mix plantings of different colors, textures and forms in the same bowl. Create height and privacy with tall planters balanced with shrubs and leafy branches. For pots in strong or bright colors, “think continuity, rather than contrast. Bluish tone succulents for a blue-stripe container or red tones in a red planter,” said Kameon. Going with the succulent trend? Try a succulent with a vertical shape contrasting with a draping plant. Plant herbs in trellis or hanging pots for easy access for summertime cooking or grilling. Source: Zillow

Cottonwood Heights Luxury Homes

Alan Barker (Boomerang Leads) — Fri, 15 Jun 2012 07:49:48 -0700

Luxury Homes When we think of touristy areas and luxury homes in Utah, we think of the southern, more sunny part of the state. But here's one of Utah's luxury home markets best-kept secrets: Cottonwood Heights. This new city (it was only incorporated in 2005) is a great place to find luxury homes in northern Utah, right at the mouth of the Little & Big Cottonwood Canyons and the majestic Wasatch Mountain Range. The median home value for homes in Cottonwood Heights is around $320,000. That's almost $100,000 more than what the median home price in Utah as a whole. And on the market right now, there are several homes available for between $200,000 and $2 million. To see examples of luxury homes here, please visit Cottonwood Heights Luxury Homes.

The Effects of Pets on Home Values

Alan Barker (Boomerang Leads) — Thu, 31 May 2012 09:07:09 -0700

This topic is widely opinionated. When suggested amongst my colleagues, it spurred a five minute discussion on wether or not pets ruin the value of a home. Those who feel that pets ruin the value of a home, think so because of the damage they can do to every inch of the home. From soiling carpets to chewed door frames, pets can potentially destroy a home if they are not well trained and/or managed. Urinating is probably the most damaging thing a pet can do to a home. Everything else they do can be done by a child as well, but the long term effects of pet urine in a home can be horrid. If not taken care of properly, the smell starts to take over the home, and soon enough you have a home that smells like pet urine- uh oh! The effects a pet has on the value of a home really comes down to the responsibility of the owner. If the owner takes care of the pet and manages its actions in and outside of the home, then I would say - no! Pet's don't decrease the value of a home. However, if a pet is allowed to run free and chew and do whatever else different types of pets do, then I would say- yes! Pet’s do ruin the value of a home. So in the end, pets have the potential to lower the value of a home, but just because there are pets in the house, doesn't mean that the value is automatically lowered. So if you own a home, and have pets, just make sure that they are trained properly and you won't have a problem when it comes time to sell your home. And if you are looking to buy a home, don't just disregard a home because it had pets, but do beware of "the smell" and make sure to get proper inspections so you aren't surprised by anything after you move it.

Prime Real Estate on Mummy Mountain

Alan Barker (Boomerang Leads) — Tue, 29 May 2012 07:57:52 -0700

There are several peaks jutting right out of the heart of Paradise Valley. The Phoenix Mountain Preserve offers several spectacular mountains to the west. And to the south, right on the border of Scottsdale, is Camelback Mountain—one of Phoenix's most prominent landmarks. But Paradise Valley's centermost peak is Mummy Mountain. This 2,021-foot peak used to be named "Windy Gulch." But shrewd landowner Charles Mieg knew that properties on the mountain wouldn't sell with that kind of a name. So, marketer that he was, Mieg began selling real estate on the mountain he now termed "Mummy Mountain"—if you look at the rock shapes from the right angle, the peak does look like an horizontal Egyptian mummy. That was in the mid-20th Century. But now, Mummy Mountain has become one of the most luxurious places to own a home in Paradise Valley. In fact, the highest-priced home listings for the city (currently) are located on Mummy Mountain's slopes. It's hard not to find a quality home in the city, but some of these homes are being sold in the $10 million range. Tens of millions, in fact. There are homes located on all of the slopes. The most populous neighborhoods include the multi-million dollar neighborhoods on its eastern slopes, Mummy Mountain Park and Mummy Mountain Vista. (One home in Mummy Mountain Park is going for $20 million right now). On the northern slopes are Mummy Mountain Estates and Mummy Mountain Norte (North). Paradise Canyon is on the western slopes. But no neighborhood is situated higher than La Place du Sommet. In French, that means "The Place of the Summit," or in other words, "The Highest Place You Can Get on This Mountain." It's a gated community of million-dollar homes right up the road from Mummy Mountain park, and literally has desert mountain terrain right in its backyard. Much of the mountain is preserved by a Paradise Valley Town-owned trust. And no matter where you go in Paradise Valley, you will always have great mountain views. But on no other peak can you live this close to a fantastic and notable area landmark. -- (Mummy Mountain information courtesy the Mummy Mountain Preserve Trust for the Town of Paradise Valley website).

Short Sales?

Alan Barker (Boomerang Leads) — Tue, 22 May 2012 05:35:57 -0700

There are plenty of mixed feelings about short sales. Those who prefer short sales like that it can save them thousands, and they are typically in much greater condition than foreclosures. Sellers and banks typically prefer them because they are both able to avoid a foreclosure process which saves each party money. There are many banks are “paying” those who have loans with them to sell their home as a short sale. Those who dislike short sales typically don’t like them because the process can be quite lengthy, and all too often it ends up falling through. This is often a headache that many potential buyers and real estate agents would rather avoid than save money. While there are pro’s and con’s to short sales, exactly what a short sale is can be pretty difficult to understand. Essentially, if a homeowner is no longer able to pay their house payments but the house is worth less than the amount owed on the mortgage, then a short sale allows a homeowner to sell their home and settle any mortgage debt. A typical short sale process at a bank is: A bank acknowledges receipt of the file which could take 10 days to a month. A negotiator is assigned (30 to 60 days). A BPO (broken price opinion) is ordered. However, the bank will probably refuse to share the results of the BPO. A second negotiator may be assigned. This can take another 30 days. The file is sent for review or to the PSA (Pooling Servicer Agreement). This can take 2 weeks to 30 days. The bank may then request that all parties sign an ARM's Length Affidavit. The bank issues a short sale approval letter. The buyer cancels. If you are looking to purchase a home, and are interested in a short sale property, be sure that the agent you select has had previous experience with short sale transactions and negotiations. This is essential if you want to ensure that you will be able to close on a deal.

6 questions to ask when looking for a real estate agent

Alan Barker (Boomerang Leads) — Mon, 21 May 2012 06:28:44 -0700

6 questions to ask when looking for a real estate agent Finding the right real estate agent can be a tricky task. However, in order to accomplish your real estate goals, it is absolutely essential that you find a good match. There are 6 important questions to consider asking potential candidates. They are as follows: How long was your drive over here? You want someone who is close by and knows the area very well. In fact, it’s best if they have a home within the area. “If the agent hasn’t closed deals on homes in your neighborhood recently, that could be a red flag,” says Ginger Wilcox, head of industry marketing at Trulia. Can you tell me about your last three deals? When they talk about the people and places of their deals, it should sound like you and what you are buying or selling. If you are looking to get a short sale or foreclosure, you need an agent who has experience negotiating with a bank. What’s your URL? Close to 90% of buyers shop for homes online now, says the NAR. If you want a better chance of selling your home sooner, it’s essential that it is posted online. Also, make sure plenty of high-quality photos are taken of your home. Browse the potential agents’ site to see how they have priced and posted other homes. What’s your batting average? Lots of listings aren’t much if the realtor isn’t making the sales. Try to hone in on their sale to listing percentage. There are many factors that play into this, so beware what you observe and judge just based on simple statistical calculations. Am I crazy to ask this much? “In some cases sellers are not going to like what they hear,” says Denise Riordan, an agent in Montclair, N.J. You need to get your home into a condition so that the price and condition are in sync, and will make buyers bite. You need to hook them, and a flashy price tag will only turn them away. What is this going to cost me? Typically, commission is 6% of the sale price. There are a few things you can do, however, to bargain with the agent. One example is use the agent to buy your next home. Above all, be sure that you have a basic idea of what you are trying to achieve. If you don’t even know this, then finding the right real estate agent will be all the more of a task.

Creating a wish list for purchasing real estate

Alan Barker (Boomerang Leads) — Mon, 21 May 2012 06:18:47 -0700

No sensible person would travel to an unknown country without being prepared. In order to make the most of your time and money, you must carefully plan where to sleep, what sites to see, and have an idea of places to eat and different modes of transportation. Not to mention all of the shots, and papers that are also typically required to travel in a foreign country. Purchasing real estate requires the same amount of preparation. Every home buyer has different expectations for their purchase. What will satisfy one buyer will not be enough or will be too much for another buyer. Some want a home in a great school district, while others want to live by their favorite shops, restaurants, and theaters. In order to reduce the amount of time, money, and stress that comes with buying a home, it's a good idea to have a wish list ready before you dive into the pool of real estate. Here are just a few tips of items to include on your wish list: Home Type There are many different types of homes available. Some of the most popular are condos, townhomes, and single-family homes. To get a better feeling of what the pro's and con's of each type are, browse the internet. There are plenty sites discussing each of these. Condos are typically low maintenance, townhomes give you plenty of space, and single-family homes offer more personalization. School Preferences Do you have kids in school, or plan to while you are in your next house? Researching school districts can make a huge difference in your child's education. Neighborhoods Do you prefer to have more space? Or would you rather be in the middle of all the action and a walking distance from everything. Are you looking to live closer to friends and family? Do you prefer a home with a classy zip code or a home with strict HOA? Home Condition Do you want to move into a home that is already in the condition you want it? Or would you rather save a little bit and do some work to the home? Architectural Style The type of architectural style varies with the different home types. Typical architectural styles include Ranch, French Country, Victorian, Modern, etc. You can also browse the internet to see the different home plans for each different type of architectural style. Home Features The features of a home really give it character. What features are most important to you? Some examples of features are: formal dining room, garage, great room, mudroom, home office/study, master suite, floor-to-floor carpet, outdoor living, butler's pantry, theater, exercise room, food storage, stainless steel appliances, granite, mahogany wood floors, etc. After you come up with your wish list, you need to specify what is absolutely necessary, and what you are willing to compromise on. This will not only help you, but it will also help your agent, and you will be able to be in your home in no time.

Arlington, Texas

Alan Barker (Boomerang Leads) — Thu, 05 Apr 2012 01:23:23 -0700

Arlington, Texas Located just east of Fort Worth Arlington, Texas is a great area to raise a family. There are many neighborhoods that will suit every type of style and budget out there. Friendly communities and down to earth neighbors make for the charm and grace of Arlington. Weather in the summer can be miserably hot, making outdoor activities in the water an attractive necessity to many residents. However, winter temperatures are fairly reasonable, with a couple of inches of snow fall each winter. There are many colleges and universities in Arlington. The three most prominent are University of Texas at Arlington, Southeast Campus of Tarrant County College, and Arlington Baptist College. Arlington has a great mixture of rural elegance and the fun city life. Many homes in Arlington are located on large lots with great, fully developed landscape. This makes it attractive to many who have been dreaming of large estates with large land and large trees to accompany the home. You can see many Arlington Texas homes at that website. With your beautiful home and the beautiful surrounding area and attractions, you will never want to leave Arlington! Now is the time to purchase your home in Arlington. With rates this low, it is actually much cheaper to purchase. So don't waste your time or money by renting a home. Invest in some great real estate, and expect to be glad you did!

Ellicott City, Maryland: Life in the No. 2 Place to Live in America

Alan Barker (Boomerang Leads) — Wed, 04 Apr 2012 02:31:29 -0700

Ellicott City is settled in the rolling hills in the heart of Maryland. The county seat of Howard County, one of the wealthiest counties in the country, Ellicott City is full of culture and heritage. It was recently ranked the number 2 place to live in America and for good reason. Ellicott City was founded in 1772 by the Ellicott brothers who started Ellicott Mills. In its history it has been, and continues to be one of the premier locations to live. In Ellicott City you are going to find a a wide range of lifestyle. There are many residential neighborhoods throughout the city limits. These neighborhoods are supported by several business districts in the area. Old Ellicott City, the oldest part of the area, is still a major hub. It is filled with shopping and anitques that attracts many visitors to the area. For those looking to live in Ellicott City, there are plenty of things to provide recreation and entertainment. There are several parks located throughout the city, movie theaters, music venues, historic sites and other forms of entertainment. The community is served by three high schools, five middle schools and eight elementary schools. The education is ranked very high in the counrty and parents participation in the school system is much a part of life in Ellicott City. The economy here is doing much better than the national average. There is a lower unemployment rate, higher average salary, and more job opportunity in the area. The job opportunity is so great because Ellicott City is located close to the metros of Baltimore and Washington DC. If culture, history and peaceful living is something you are looking for, Ellicott City is a great place to consider. To search homes on the market visit ellicottcitymarylandrealestate.com and see the homes that are available in Ellicott City.

Mortgages Today vs 13 years ago

Alan Barker (Boomerang Leads) — Tue, 03 Apr 2012 06:19:42 -0700

Today a home may cost $200 more than what it was 13 years ago, but that's not factoring in everything we ought to. Consider that homes are nearly twice the cost that they were, but inflation has also gone that way and interest rates are better than ever before as well. Compared with the rate of inflation, a home cost is much much much less today (almost half as much). Nearly every other industry has inflated around 300%, but home prices have risen only 20%, once inflation of the dollar is calculated $1289.67 today is actually $689 in 1989. Or let’s look at it one last way, in 1989 that $1078.28 payment, with inflation calculated on the dollar would actually be $2018 dollars today. Source: US Inflation Calculator In other words, a home essentially costs half as much as what it did just 13 years ago, or $800 less/month. Source: http://kirksalisbury.com/2012/04/home-value-vs-inflation-and-interest/

Great Places To Live in Catonsville, Maryland.

Alan Barker (Boomerang Leads) — Fri, 30 Mar 2012 01:48:43 -0700

Catonsville, Maryland is located in the heart of America's oldest heritages. Settled by the Europeans early in the discovery of the new world, they lived beside the Piscataway Indians for many years. Since its early beginnings Catonsville has been a choice location for living. During the colonial period Baltimoreans would build their summer homes in Catonsville to escape the heat. Through the centuries Catonsville has remained a great place to start a new home and has been voted in the top 50 places to live. The Catonsville culture revolves around music. It was named Music City, Maryland due to the numerous music shops, venues, and education opportunities. Each summer there are many summer concert series in various locations around the community. Each month there are also the famous Appalachian Bluegrass jam sessions. If you aren’t a music aficionado, there are still plenty of other things you can do in Catonsville. There a parks and recreation facilities, historical sights, and modern forms of entertainment to make living enjoyable for all types. The economy in Catonsville is currently doing well above the national average. Because it is located near the Baltimore and Washington DC metros there are plenty of opportunities for jobs. Although Catonsville is a predominantly residential area there are several business districts in the area to bring revenue to the area. If you are looking for a great place to start a home in Maryland, Catonsville would be well worth considering. Use this Catonsville Homes tool to begin your search for the perfect home.

Best Seattle Neighborhoods

Alan Barker (Boomerang Leads) — Thu, 29 Mar 2012 07:41:33 -0700

Seattle Neighborhood Guide Seattle has a couple dozen neighborhoods which are fantastic choices to move into when selecting where to purchase your real estate. Which neighborhood is best? Well that all depends on what you are looking for. We’ve broken it down so that you can quickly make a choice of which home is best. Listings in these neighborhoods can easily be found at Seattle Neighborhoods. Enjoy your quick guide to where Seattle neighborhoods! Affordable Seattle Neighborhoods Bitter Lake is a far north Seattle neighborhood. The highest end homes are typically $400K. Delridge an affordable area not far from the city with several homes under $180K. Georgetown is surrounded on all sides by opportunities for eomployment and is a very affordable place to live at the same time, being just underneath the King County International Airport. Industrial District the name explains the type of work you will be doing if you work close to home. These are affordable homes which can save you on your commute time. Jackson Park has both affordable condos and nice single family homes for sale. Lake City is probably Seattle's most affordable waterfront area. Lake Union if you're looking for a house boat, this is the place to buy one. Northgate on the far end of the Seattle boundaries, North Gate is an affordable area. Rainier Valley is one of Seattle's affordable and distant areas. These homes are just northeast of the Boeing Field-King County International Airport. South Park is considered an undervalued area close to Seattle where homes range between $200K to $100K. Middle Class Seattle Neighborhoods Broadview is a far north Seattle which is also partially waterfront. The most affordable homes are as low as $200K, which is most common. But waterfront listings easily run into several million. Columbia City is not far out of the main city area, and is one of Seattle's up and coming areas. Fremont is an upper-middle class area on the north side of Lake Union. Greenwood is just north of Green Lake, and similar to its neighbors down South has a nice variety of well kept homes in a nice neighborhood. Haller Lake is an interesting area. The closer you get to the small lake in the center, the higher dollar the homes and nearby parks. North Seattle has some of it all, so it's safest classification is "Middle Class." Pinehurst is an innovative and clean neighborhood. Ravenna is an upper-middle class neighborhood with great parks and schools nearby. University District a convenient location for the scholarly. Home value is high here for what you get. Wallingford homes are both large homes and nice condos with high prices, and at the same time the neighborhood has its share of low income housing. West Seattle is upper middle class with some of the best views of the Puget Sound and Olympic Mountains. High Dollar Prestigious Neighborhood Green Lake is a well maintained area, and could almost be considered waterfront, because technically these homes sit on Green Lake - a lake in the middle of suburban Seattle. Harrison/Denny Blaine is an upper class waterfront neighborhood with several multi million dollar homes. Madison Park is arguably one of Seattle's best neighborhoods. Large lots, waterfront homes, and fantastic golfing. Queen has long been one of Seattle's most recognized areas. Homes sit along Lake Union or atop the hill overlooking both Puget Sound and Lake Union Seward Park is full of gorgeous homes which have views of nearby Mercer Island. View Ridge is both middle and upper class. Homes are around $200K until they suddenly jump to around $700K - it all depends on waterfront views or not. Windermere is a waterfront neighborhood on the east side of Seattle. Homes here are typically right around $1,000,000. Waterfront Neighborhoods Alki is a long, skinny neighborhood right along the Puget Sound. Homes here are affordable, but packed in like sardines along the waterfront. Ballard has both high end and low end homes along Salmon Bay. Of course, the high end homes are the ones which will have the waterfront views. Bellevue is very similar to Ballard, but is on the east of Seattle. This area has received lots of attention as one of America's best areas to live. These homes are along the Meydenbauer Bay. East Seattle has many waterfront homes available, and inland further is considered more a middle class neighborhood. Magnolia beautiful multi million dollar homes line the waterfront in this highly coveted area. City Center Neighborhoods Atlantic is arguably one of Seattle's best areas to live if you are looking for a good deal which is close to the city. These homes will typically be between $300K - $200K. Broadway Broadway is just outside of the city center, and has its own share of classy homes in luxuriously built and maintained buildings. Capitol Hill and Broadway are often times considered one in the same. Central District is the very heart of the city. Most if it is hardly residential, but there are some housing opportunities available for purchase and rent.

The Interesting Tooele Real Estate Market

Alan Barker (Boomerang Leads) — Mon, 05 Mar 2012 07:03:26 -0800

So I just ran some numbers on Annual home sales in Tooele Utah, and they are quite amazing. The home sales have drastically increased, then decreased over the past decade. During 2006, home sales were double what they have been over the past four years. The positive news for Tooele Real Estate is that home sales did indeed increase over the past year. Things look bright for the Utah Real Estatemarket as a whole. Home sales are substantially up after the first two months of the year. It will be interesting to see if Tooele is able to follow that trend and also see another annual improvement in terms of home sales. Home prices in Tooele have followed the same trend as home sales. They rose, peaked, and then fell. They are now almost to 2005 levels, which compared to many areas in the country is actually pretty good. Here is the graph showing the varying annual home sales. The average home price during 2007 was $203,062. Just four years earlier, it was only $126,385. For more information, or to search for Tooele Condos, Houses, or Foreclosures, visit TooeleUtahRealEstate.com

Are Property Taxes Constitutional?

Alan Barker (Boomerang Leads) — Tue, 30 Aug 2011 12:41:40 -0700

It's that time of year again. Property Tax time for Logan Real Estate. While the assessed property value of one of my properties went down (as it accurately should have). The assessed value of my rental properties apparently went up. How this happened, I can't explain. In the past year my duplex has aged an additional year, I also get $50 a month less than I did a year ago. For income properties, like Logan duplexes, a big part of the property value is based on the rental income it produces. The other factor is determined by what comparable properties have sold for. Very few duplexes have sold in the last year in Logan. Why the Cache County assessor thinks its worth $27,000 more than it was last year, I just don't get it. It might just be me, but I think that property taxes are the WORST type of taxes. Are they constitutional at all? The tax value varies based on the VALUE of the property.... If you make the effort to improve your property then you have to pay more taxes every single year for the rest of your life! I don't get it. There is no true "Ownership." Owning real estate only makes you a slave to the the local government. The more you "own" the more taxes you pay. I understand taxes and the purposes of them. I understand public goods and the need to fund things through taxes, but Property Taxes just frustrate me. When your income goes up, I get it that you can afford to pay more taxes. If you choose to spend your money then you pay more sales taxes... I get it. Purchasing goods is a choice. If your property goes up in value, or even if it doesn't go up in value but the tax assessor claims that it does, then you pay more taxes. There is no freedom. Only consequences. And does the person who is now obligated to pay the increased property taxes really have the means to fork out the additional $$$? Am I alone in the unconstitutionalsm of Property Taxes? Or am I just bitter because the Cache County tax assessor claimed that my property values rose in value when they didn't.

Its a Buyers Market, and Buyers Know It

Alan Barker (Boomerang Leads) — Thu, 05 May 2011 11:24:22 -0700

Buyers know that its a buyers market and they know that there are good deals out there. However, even when properties are good deals, buyers want an even better deal on the already good deal. They want to offer far less than list price, even when list price is far less than market value. That's the attitude when buyers know its a buyers market but don't fully understand what that means. Many buyers want to offer $50,000 less than the list price, on $150,000 Logan homes. They want to see how the sellers will respond. Is a low ball offer like this a good strategy? It depends on who the seller is. If the property is a short sale or bank owned home, then this may be okay. Banks are realistic and aren't going to accept an incredibly low ball offer, but they aren't going to get offended, so making an offer like this probably isn't going to hurt a buyers chance of actually getting the property later if they do decide that they really are willing to pay more. If the property is owned by a traditional seller, someone who has lived in the house and made it a home, then an offer like this is a bad idea. For a traditional seller, the home has is worth a lot more than what any buyer will pay. Their home has memories, it has emotional value, it has a monetary value attached to the costs and improvements they have made to the property. When sellers get a low ball offers, they usually get offended. They develop emotional animosity towards the potential buyer and often will refuse to even counter the offer, because they don't want to sell their home to someone who doesn't see the value in it. The rational decision to do what it takes to actually sell their home gets overtaken by pride and disdain. A good real estate agent will advise their clients on a the real value for the property, and help them make a realistic offer based on that. Many sellers in the market today absolutely can't go any lower than their list price. They are already paying to get out, and are doing all they can just to avoid a short sale. It's a new age of real estate. Whether a buyer is looking for Atlanta Real Estate, or Real Estate in Logan Utah, attitudes and behaviors are different than they have been in the past. It's important that real estate agents educate their buyers accordingly so that they really can offer the best service and expertise.

Do You Really Want That Listing?

Alan Barker (Boomerang Leads) — Mon, 28 Mar 2011 16:56:12 -0700

A lot of older real estate brokers teach their agents to never turn down a potential listing. In the old methods of real estate, having a listing offers numerous opportunities to the agent even if the listing doesn't sell. The exposure that the agent will get by having their name on the sign might bring business in the future. As the real estate business evolves to Internet leads, this method of acquiring business is getting far less effective. In today's real estate business, potential buyers rarely ever call a real estate agent off of a yard sign or newspaper ad. Some people find homes when they are just driving by, but instead of going down and inquire to the house owner, they would end up looking for it up online or on their smart phone. Working with buyers from real estate internet leads is a much more effective use of time and money than taking unsellable listings. When Logan Utah real estate agents are considering listing a house, they need to consider the sellers reasons and motives, for selling before deciding to take a listing. Sellers who are just testing the market, or thinking about downgrading, that won't set a sales price, are probably a waste of time to buyers. Some sellers who need to move because of a job transfer is a good reason, but sometimes some will do anything to get their home sold especially if they just want to move out of the area, or they hate the neighborhood. Potential sellers who are selling because of financial distress or divorce can go either way. They might be realistic, and easy to work with because they need to sell their home, or they might be impossible to work with because they just don't care. Personality is also a factor that an agent has to consider when meeting a potential seller. It is going to require higher maintenance? Will they demand that you do things that will have absolutely no impact in helping the house sell? Are they ready to do some things to help sell the house fast? Will they clean the house for showings. Are there still people who are occupying the house, and who are against selling it? Also consider the property itself in relation to what sales price the seller will be willing to accept. What kind of condition is the home in? Is it functionally obsolete? Is it located in an unsafe neighborhood or on a busy road? Will it entail major changes that can turn off most buyers? A good real estate agent won't waste their time, money, and effort by listing homes that are not sell-able. If you are a real estate agent who has nothing better to do, then it might not hurt to take an occasional overpriced or discounted price listing. Just let it go if you’re in the real estate business to make money. A real estate agent can still make money by listing homes, but only if the house is sell-able.

Need to Sell Your Home This Summer? You Might Want to List Your Home Now

Alan Barker (Boomerang Leads) — Mon, 31 Jan 2011 10:33:00 -0800

For Logan Utah Real Estate, it's still the dead of winter, there isn't much snow left, but that doesn't mean that winter is over, or even close to being over.Spring is typically the busiest time of year for the listing of Logan homes, as most people want to move during the summer months when school is out. There are also more buyers during spring. The typical seller will think, "I'll wait until spring to list my home." While there will be more buyers, there will also be a lot more listings, and a lot more competitions. And while most of the will-be buyers are not out actually looking at homes yet, they are looking at them online.Online buyer activity is currently up by more than 35% on our Utah Real Estate websites compared with December. Almost all home buyers start their home search online, and if your house isn't there yet, buyers aren't going to fall in love with it. We are starting to see a large spike in the number of listings in Cache Valley, and this number will keep rising. Unless the nubmer of buyers outpaces the number of new listings, home prices will continue to decline. It may not be the most convenient time, but your chances of selling your home by summer will probably be better if you list now rather than later.

Preston Idaho Real Estate

Alan Barker (Boomerang Leads) — Tue, 19 Oct 2010 08:34:03 -0700

Cornerstone just opened up a new office in Preston ID, so I've done a little bit of research about real estate in Preston Idaho. In general, the Preston market pretty much just follows the same trends as the Logan Real Estate market, however it seems to be a little behind, and home prices are significantly cheaper than they are on the Utah Side of Cache Valley. Here are a few statistics about Preston ID Real Estate: Preston Currently has 110 active residential home listings. In the last year, there were just 78 homes that sold. This gives Franklin County Idaho Real Estate almost 17 months of active inventory which is a little bit higher than the current active inventory in Cache Valley Utah. The best ever year for home sales on record in Preston was 2007 when 112 homes sold. Even if times returned to the glorious housing boom, that's still a years worth of active inventory. The homes that are listed for sale have price tags substantially higher than those that have ever sold. The current median list price is $175,000. The median sold price over the last year was just $137,000. The highest the annual median sales price has ever been was just $147,000, and that was in 2009. Essentially, thhis means that unless some new market force comes that makes Preston a more desirable location to live, home prices will be dropping for Franklin Idaho Real Estate. Here are some good resources if you're interested in viewing Preston ID Homes for Sale, or Preston Idaho Land.

2nd Qtr - Springville from 2009 to 2010

Alan Barker (Boomerang Leads) — Wed, 28 Jul 2010 07:57:33 -0700

Springville Utah real estate sold increased by 21% during the 2nd quarter of 2010. Median sold price decreased from $192,500 to $178,450 and average sold price of houses in Springville decreased over 30,000.

2nd Qtr - Spanish Fork from 2009 to 2010

Alan Barker (Boomerang Leads) — Wed, 28 Jul 2010 07:39:04 -0700

When looking at 2nd quarter numbers over the past two years, homes in Spanish Fork increased 18.4%. Median and average prices of Spanish Fork real estate decreased between two and four percent

Cache County Real Estate Values Down - According to Property Tax Values

Alan Barker (Boomerang Leads) — Mon, 26 Jul 2010 07:35:50 -0700

It's that time of year again where the Cache County Assessor sends out "property tax" notifications. This nice letter lets you know what the county thinks your property is worth, and how much your property taxes will be going UP the next year (Okay, so property taxes don't always go up, just usually.) Last year the experts at the property valuation department raised the property values of almost all homes in Cache Valley, even though in reality home prices in Cache County declined. This caused a lot of controversy, and kept the appeals department very busy. I got dozens of request from people who wanted CMA's done, so they could appeal their property tax. I personally appealed the assessed tax value on two of my properties, and got both of them, plus my property values lowered. Well this year, Cache County decided to wise up. Rather than increase the amount of property taxes because "property taxes went up" they actually lowered property values, but just let you know that if the "proposed budget" is passed, your property taxes will go up anyways. This way we can't get our property taxes lowered by pointing out their errors. From the two notices I have received so far, my Logan Homes decreased in value by about 6%. My Logan Duplex that had an estimated Tax Value of $200,000 before my appeal last year, is now valued at $169,000.

2nd Qtr - Saratoga Springs from 2009 to 2010

Alan Barker (Boomerang Leads) — Wed, 21 Jul 2010 07:34:57 -0700

Saratoga Springs homes sold for about 2% less during the second quarter of 2010. Homes in Saratoga Springs sold decreased by 14%, or by a quantity of 17 homes.

2nd Qtr - Provo from 2009 to 2010

Alan Barker (Boomerang Leads) — Wed, 21 Jul 2010 07:18:14 -0700

The number of sold homes in Provo UT increased by 14. Median price fell below $200,000 and average price of Provo houses declined from the mid to low 200s.