Major improvement in Utah Home prices in the last year!

Subscribe to the Market Snapshot to keep track of your Neighborhood

Subscribe to the Market Snapshot to keep track of your Neighborhood

I came across this listing of a home that sold in February from Riverton, Utah. It’s a great example of how drastically things have changed in the housing market here in Utah in the past year and a half. Homes that weren’t selling a year ago, are now selling and for significantly higher prices. In this case, the home sat on the market and didn’t sale in May of 2011. Things have changed so fast that the home was put back on the market in December a full $30,000 above the previous listing price! It sold in 60 days for the full asking price minus concessions.

Bottom Line: The home inventory is low in Utah, the economics are improving, and buyers are emerging more and more. This is driving prices higher. If you aren’t sure what’s happening in your neighborhood, a great tool is available called the Market Snapshot.  On a monthly basis, you will receive accurate information, such as: what homes are for sale, what homes have sold, foreclosures,  under contracts. In addition, it contains great information such as school and community data. You can subscribe to the monthly market snapshot and receive it by E-mail each month. It is provided FREE of charge, with no-obligation, and you can unsubscribe at anytime! It’s an essential tool for every home owner.

Subscribe Here to Receive the Monthly Market Snapshot for you Neighborhood

Kitchen Trends for 2013

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    If you’re looking to remodel your kitchen, we’ve got good news and bad news.

    First, the good stuff. According to trend experts Lita Dirks and Dominick Tringali, you don’t have to shell out major cash to add space. Instead, look to expand what you already have. Vault your ceiling, add windows, squeeze in clever storage ideas. Make the space work harder, not bigger.

    Plus, relax. Casual kitchens are trending, with doo-dads and gee-gaws (think elaborate trim and vent hoods that look like medieval castles) going away, and simpler, sleeker designs coming on strong.

    Speaking on kitchen trends at the 2013 International Builder’s Show in Las Vegas, interior designer Dirks and architect Tringali teamed up to describe the new American kitchen as one piece of a larger, open floor plan.

    It’s all part of a new kitchen gestalt that Dirks describes as the “prep-eat-play” triangle, with flexibility and casual living as key ingredients. The notion tosses the kitchen into a design blender along with living, dining, and family rooms, and frappes everything into communal happiness.

    Example: You can eat at a comfy banquette, or in front of the TV (don’t tell your child-development counselor), or in the breakfast nook, or you can belly up to the island. No rules!

    The bad news (OK, it’s not that bad) is that we’ve heard some of this before. Open floor plans have been around since the moon landing and yes, we like them. A lot. What we really have here is affirmation — and freedom to create kitchens that are less ornate and yet have more personality.

    Just like you.

    Of course, Dirks and Trengali definitely have the pulse of today’s home owner and offer some great takeaways. We’ve combined their goodies with our own kitchen trendspotting for 2013. If you’re planning a kitchen redo, here’s what you need to know:

    Contemporary kitchens are In. Specifically, they’re getting simpler and more modern, with less elaborate detail and trim. In fact, the National Kitchen and Bath Association reports that in its annual survey of kitchen designers, “transitional” design — meaning a simple, more modern aesthetic — has surpassed “traditional” as the preferred design for the first time in the association’s history.

    Kitchen cabinets are dark, or white. Darker, furniture-like finishes are popular, but so is pure white. The middle ground — think natural oak — is going away. Dark finishes help the kitchen integrate into the overall scheme; pure white is the ultimate accent color that readily complements the rest of the living area.

    Islands rule. Kitchen islands are becoming more multi-dimensional, serving as food-prep areas, snack stations, wine storage, and display cabinets for objets d’art. Also, they’re essential for directing traffic flow within an open floor plan, channeling guests toward comfy seating areas, for example. Small kitchen? Go with a rolling cart that’s there when you need it.

    Countertop revolution. Say hi to porcelain and ceramic slabs that look like stone, wood, and fabric, says Jamie Gold, a California designer. The product is made from clay, quartz, and feldspar that’s subjected to high heat — just like regular tile. Unlike other engineered countertops, this product doesn’t use cements or resin binders. It’s not readily available in the U.S. yet.

    Appliances are disappearing. In the past, we loved our commercial-style kitchen appliances that made us look like we really knew how to cook. Now, appliances are hiding behind wood panels and faux veneers so they integrate better with the overall living space. New finishes, such as GE’s slate and Whirlpool’s Ice White, are bucking the stainless steel trend, but don’t bet on stainless going away anytime soon — it’s still hot.

    Espresso yourself. An eye-catching extra gives a kitchen a blast of personality. Cool sinks and high-tech faucets are au courant. Other possibilities include:

    • Stylish vent hood.
    • Espresso machine.

    Glass finishes. Glistening glass is popping up everywhere in the kitchen, especially glass tiles installed as backsplashes. Applying clear glass panels over walls painted soft colors gives a deep sheen that harmonizes with today’s contemporary looks. Bonus: It’s easy to clean.

    Grab some fresh air. Outdoor kitchens and entertaining areas are hot. Your indoor kitchen should have an outdoor doppelganger close by, available through wide glass doors.

     

    John_Riha John Riha has written seven books on home improvement and hundreds of articles on home-related topics. He’s been a residential builder, the editorial director of the Black & Decker Home Improvement Library, and the executive editor of Better Homes and Gardens magazine.

    Read more: http://www.houselogic.com/blog/kitchens/kitchen-trends-2013/#ixzz2NYwtc0Gq

    Today’s kitchen is a quick-change artist that adores families and loves simplicity. Read  Visit houselogic.com for more articles like this. Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

St George Parade of Homes attendance climbs 15.4%

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Pictured:
Top: #23 Henry Walker Homes
Second: #22 Salisbury Homes
Third: #20 Jensen + Sons Construction, Inc.
Bottom: #25 DG Ventures

The 2013 St. George Parade of Homes recently concluded in St. George, Utah. Thousands converged upon the Southern Utah area to walk through and get a close-up look of 28 newly constructed homes by the area builders.

If the Parade, which ran from February 15th-23rd,  is a snapshot of the what’s happening in new construction in the area; 2013 looks to be a promising year for St. George. This years attendance increased 15.4% over last year, another indicator that the housing market is recovering. There were 28,652 attendees this year, compared to 24,838 last year.

Traffic was steady and evenly spread throughout the parade route. The homes were elegant and  presented a range of options to patrons, with 18 of the 28 priced below $600,000. The most affordable home at $304,900 was built by Salisbury Homes in the gated Boulder Springs community. The most expensive home at $2,699,950 was built by Ron Jensen of  Jensen + Sons Construction in the Stone Cliff community.  There was a tangible feeling that the St. George Real Estate market is back and ready for a big year.

2013 Parade of Homes Summary

  • 23rd year
  • 28 Homes in Parade
  • Up 15.4% year-to year
  • Over 28,000 guests
  • Average Home
    • 3,035 Square Feet
    • 4 bedrooms
    • 3.3 Bathrooms
    • $632,000 ( 8 Sold, 20 For Sale)
    • $195 Sq./Ft.

Interesting Statistics

  • Of the 28 homes
    • 7 were priced in the 300s
    • 8 were priced in the 400s
      • 3 were priced at $449,900
      • 14 homes priced under $499,900
    • were priced in the 500s
      • 14 homes priced over $500,000
    • 3 were priced in the 600s
    • 2 were priced in the 700s
    • 3 were priced in the 800s
    • 2 were priced over 1 Million
LINKS

St George Parade of Homes

Henry Walker Homes

 Salisbury Homes

Jensen + Sons Construction, Inc.

DG Ventures

Stay tuned for an upcoming blog post, in which we will recap our favorite homes from this years Parade of Homes.

 Brett Wilde a licensed Real Estate agent in Utah. He is a contributor and sponsor of Utah Home Deal. To ask Brett a question about Real Estate,  you may email him at brettwilderealestate@gmail.com

Lehi Home for Sale … now Under Contract!

UnderContract

Homes in Lehi are selling fast! We recently put this home under contract. We can help you sell your home in Lehi.

Call or text the Brett Wilde Real Estate Team for more information at 801-623-9552 or email at wildebrett@gmail.com
The Real Estate Group

5-tile2PROPERTY DETAILS

- 3160 Sq. Ft.capture-20130221-113927
- 0.20 Acres
- Built in 1995
- 5 Bedrooms
- 3.00 Bathrooms
- Central Air Cooling
- Forced Air Heating

GENERAL DESCRIPTION

5 bed | 3 bath | 3,160 Sq. Ft. | .2 Acres
Price has just been reduced to sale today!Submit offers to wildebrett@gmail.com
Beautiful custom interiors in this Lehi home! This home has so much packed into its 3,160 sq ft! Perfect for somebody who is downsizing and still wants all the fine upgrades that are typically only found in luxury real estate.Among the many custom upgrades:
-Stained doors and moldings
-Custom tile work
-Home Theater Room
-Second Kitchenette downstairs
-Speakers throughout
-Custom pergola
-Upgraded showers with rain heads
-Garden Area
-Drinking Fountain
 

See more pictures of this beautiful home on flickr by clicking here


flickrcapture2s

 

Brett Wilde

Call or text the Brett Wilde Real Estate Team for more information at 801-623-9552 or email at wildebrett@gmail.com
The Real Estate Group

Home Improvement Projects

3 home projects to improve your home’s sell-ability

There are countless home improvement projects that can range from the quick and easy, to the incredibly difficult and expensive category. However, here are three suggestions that can be relatively inexpensive, fairly quickly, and without hiring a professional. More importantly, these three things will make your home more sale-able, and can result in a dramatic difference in buyer enthusiasm.

FIRST Tear down wallpaper and put a fresh coat of paint on the Wall

paintbrush

I’m sure the wallpaper looked great when you first put it up. I bet it was beautiful and made visitors stop in their tracks in amazement and awe. However, most likely it now appears terribly dated and only calls attention to the fact that your home is aging rapidly.  Replace it with a  nice neutral color like eggshell white or beige.  It won’t hypnotize anybody, but that’s exactly the point. When selling your home, you want to make sure that your walls aren’t a distraction, and appeal to a wide audience.

Tip: Wallpaper can be a bit of a challenge to remove sometimes. Mix 1 part hot water to 1/2 part fabric softener to create a create solution that you can put use a bottle to spray the wallpaper. Score it first, and use a flexible blade to get underneath and remove it cleanly. 

SECOND Replace hardware on cabinets and doors

It’s surprising how many older homes are shown with missing knobs on cabinets and broken door handles. Not to mention, older hardware may be tarnished and worn down.  Hardware can get really expensive depending on what you get, but you can find handles and knobs for around $2 that will go a long way to improving the look of your cabinets in your kitchen and bathrooms. Since most buyers tend to focus heavily on these areas of potential homes, the small investment will pay off.

Tip: Stick to simple styles with hardware. They will match up with more cabinets and the more ornate styles that are made. 

THIRD Replace all your lightbulbs and add some light to the scene

lightbuldEvery photographer will tell you that one of the keys to every great photograph is great lighting. Our eyes love nice even lighting. Make sure all of your lamps and fixtures have fresh light bulbs in them. A 60 watt lightbulb is a great choice in most cases. Perhaps you’ve made the change over to Compact fluorescent Lights (CFLs) and are enjoying the energy savings. A 13-16 watt CFL bulb would work. If you can, add some small accent lights above shelves and cabinets. At the time of the open house, use caution, but put out a few candles to add some warmness to the lighting, with the added benefit of making everything smell great.

If you want more specifics on how-to do these projects, there are lots of resources to check out. There are many great written instructional guides across the web, written in home improvement books, and multiple videos on youtube. Just use our best friend google to find out more.  I hope you find that your home is brighter, fresher, and better visually for buyers as they see your home for the first time. Remember the old adage that you never get a second chance to make a first impression. These three home improvements will go a long way to appealing to as many people as possible. Best of luck to you!

Brett Wilde a licensed Real Estate agent in Utah. He is a contributor and sponsor of Utah Home Deal.  If you have any questions,  you may email him at brettwilderealestate@gmail.com

Adobe in Lehi

Adobe in Lehi

The Adobe Building in Lehi, Ut. Completed in 2012. A beautiful example of architecture and a reminder of the many types of technology related jobs that are coming into the Utah Valley and all along the Wasatch Front. Photo by Dave Taylor

How to Determine Home Value

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One of the most common questions that I’m asked is, “What’s the Value of my Home?”  For most people, your home is your largest financial obligation or asset. Therefore, its understandable and recommended that every homeowner know the value of their home. There are several methods you can use to approximate how much your home is worth. I’ll briefly discuss a few options, but share with you the best way to know how much your home is worth.

Ways to Determine Value of Your Home

cash-house-smYou might look up your tax assessment, where you find how much your property is valued for tax purposes. Your county assessor website will usually have this information available. However, you want to keep in mind that the value given is only for tax purposes and may not be an accurate market value that you would get if you were to appraise or sell your home.

There are several websites out there that attempt to value homes, including such sites as Zillow and Trulia. While their methods of valuation are correct in principle, due to errors in information that they gather on the properties, we’ve found that these estimates can be off-the-mark, in some cases by a large margin.

contract-smYou may also have a licensed appraiser come out to your home. This is the most accurate method, and a bank or lender will want a professional appraisal done before they will lend money on any property. However, appraisals cost several-hundred dollars. This is where a real estate professional, agent, or Realtor, may be very valuable. Nearly all real estate professionals  will provide you a Competitive Market Analysis (CMA) for free and no-obligation.

What is a CMA report for your home?

We’ve all heard the phrase “Location. Location. Location.”  When it come to real estate, location is almost always the primary factor in determining the value of a property or home. To determine the price of a home, we first look at location. Specifically, we’re looking at the neighborhood.

Second, we need to see what’s happened in that neighborhood recently. A real estate professional is going to do a Comparative Market Analysis (CMA), which in layman terms, simply means that they are going to look at what properties have sold recently and compare them to yours.  Using homes that have sold recently is the most accurate method of accessing value, because it reflects what people have actually paid, rather than a perceived value.

Looking at those sold homes,  we try to find those that are the closest in style and condition to yours.  Often times, homes in a neighborhood were built at the same time and are quite similar.If  this is the case, it should be easy to determine a price. However, when a custom home is involved, or a neighborhood has many different types of homes, adjustments have to be made to access a value. For example, having an extra full bathroom compared to another home can be equal to an additional $5,000 in my local market. Such adjustments are made in the calculations and require knowledge and expertise in the local market and building costs.

Homes may include special features or upgrades unique for the area. When comparing against older homes, a kitchen that has been recently updated with new cabinets, appliances, and a premium counter-top will certainly add value and sell-ability.  A home may also be in need of repair and adjustments may be needed accordingly.

At this stage, a good real estate professional will usually have enough information to give an approximate valuation to the property. Typically, an agent can give this to you in a report, providing information on what recently-sold properties were used as comparables.

What do you do with your CMA report?

After you know the approximate value of your home, you will then have the information you need to make decisions such as listing it for sale, repairs, and remodeling. Ask your agent whether the market is favorable to selling. A good market to sell in is one in which there is more buyers than sellers, which often leads to multiple-offers and getting top dollar for your home.  It may make sense to list the home, make improvements, or to continue to live in the home as it is. photo-20sm

A CMA report prepared by a Realtor is a valuable piece of information and I’d recommend having one prepared every year.  There is no need to be selling your home in order to request a report. You can request one at anytime. At Brett Wilde Real Estate Team, we will prepare a CMA report for you, and can also send you an updated copy as often as you need. The more you know about your neighborhood and home, the better off you’ll be.  If you have any additional questions, please feel free to call us 801-623-9552.

 

 

 

Photo: Fog around the Capitol Building in Salt Lake City

CapitolFog-lowres

There’s been quite a bit of fog in Utah the past few days.  Fog like this is usually just a temporary  thing in Utah, but it does create some awesome scenery when it presents itself. The Utah Capitol Building is a beautiful example of architecture and a prominent fixture on Salt Lake City’s skyline, as it sits at the far north-end of State Street. In the background, the Headquarters and office building for The Church of Jesus Christ of Latter-Day Saints can be seen rising through the fog. The foreground is the residential area of Capitol Hill.

Below is a photo of how the Utah Capitol Building appears during daylight as cyclists pass during the Tour de Utah.

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Photography by Dave Taylor

Market Watch for Homes in Lehi Utah 84043 (2/5/13)

lehi

180 Current Homes for sale in Lehi 

  • 60 Short Sales (3rd party)
  • 120 Standard Listings

40 Homes sold in the past 30 days

  • 5 Short Sales (3rd party)
  • 35 Standard Listing Sales
  • Avg. Listing Price of homes sold –  $266.434
  • Avg. Sale Price – $260,043
  • Avg. Square Ft Total – 2,964 ($88 sq. ft.)
  • Avg. Square Ft Finished – 2,539 ($102 sq. ft)
  • Avg Days on Market - 55
  • Avg Bedrooms – 4.1
  • Avg Bathrooms -2.7
  • Avg. Year Built – 2003
  • Avg. Acres – .27

 21 Homes put under contract in last 7 days 

  • 1 Short Sale (3rd party)
  • 20 Standard Listing Contracts
 *Figures calculated from information provided by the Wasatch Front Regional Multiple Listing

Utah Home Deal: the best place to find Real Estate in Utah

 

Utah 8cropped

 
Launched as part of a mission to provide home owners and home buyers the premier place to search, research, find, sell, and buy real estate in Utah.

Over the next few months, we’ll be making improvements to the website. With time, this will become what we envision it to be: a necessary and valuable resource for all your real estate needs in Utah.

 In the meantime, please feel free to contact our premier agent, Brett Wilde. He’ll be happy to answer any questions you have with regard to any area of real estate!  Call him directly at 801-623-9552 or email him at wildebrett@gmail.com