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Logan : Real Estate Advice

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  • Local Info1
  • Home Buying2
  • Home Selling2
  • Market Conditions1

Activity 15
Thu May 25, 2017
Hope Tinsley asked:
Hi, I deactivated my listing so that it now appears under past listings, but when I search my area it still appears on there. The vacancy is filled and I don't want to keep getting…
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Sat Jan 21, 2017
Michaelhuntsman asked:
A few weeks ago I listed a room for rent, it is no longer available, but now I am unable to get rid of the listing. I keep getting inquires! Help!!
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Fri Jan 15, 2016
Antonio Lopez answered:
I work in Florida only. The laws may differ where you live.

If the rents are high enough to pay the mortgage and it cash flows, keep the house. In other words, keeping the home is ok if you make at least $500 net at the end of the day after paying your mortgage. Net means after all expenses and taxes. You could get a real estate agent or management company to help you with this. Ask what they charge.

You also can short sale the house. This means your you sell your house and the bank will take for less than what's owed. You don't have to be in foreclosure to short sale your house. A short sale shows on your credit as an account paid in full and minor credit damage. Do not do this on your own. Make sure to get a professional to handle the short sale negotiations. The short sale process is completely free for you. If you live in South Florida I will be the professional you want to call. You can visit me at AntlopMiami.com.

You may have questions. There's a lot more to it but I compressed it for the sake of simplicity. I hope it helps!
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Tue Jun 16, 2015
Jason Holmes answered:
Typically properties on this site with out full addresses or correct addresses are most likely listings that don't exist, or at least not anymore. If the house is listed on the local MLS then it will have the house number and street name. ... more
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Thu Jun 12, 2014
Sandy Straley answered:
I think you can get $l for $l on all these repairs/upgrades. Buyers seem to choose the most clean and well taken care of homes. Buyers in this market want to move right into a home without any repairs. Make sure the carpet and paint are a neutral color the buyers can decorate around. Don't forget to paint all the outside doors. I feel you need nice appliances but not necessarily top of the line. Look around your home also and make sure all the little things have been fixed. Make sure your landscaping is also well groomed, curb appeal is a very important factor. ... more
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Tue Aug 6, 2013
answered:
Good afternoon Amber,

I’m no real estate agent, just a humble Mortgage Banker, but I can give you some guidance on your search for the right rental apartment.

In my experience in the real estate trade, I’ve discovered that the consumer is best served by adopting some simple strategies, whether you’re buying a home, selling one, or renting an apartment.

First: remember that real estate agents work on commission. The better quality agents---and those with the most experience---will be testing you from the initial contact to determine if you’re serious and will commit to using their services. Why? Because real estate is like any other business; you don’t sit at a table in a restaurant to read the menu without actually buying food at some point. It’s the same concept: the experienced real estate professional has to earn a living by renting apartments to serious and qualified prospective renters.

Therefore, the smart consumer should be well-prepared and committed to respecting the real estate professional’s time. Prepare yourself with three fundamentals: amenities, location, and price.
Know your requirements for the apartment you wish to rent in terms of amenities (one bedroom versus three bedrooms; elevator building or private house), location (proximity to public transportation or need for parking), and price. If you present yourself as well-prepared you’ll have a better chance of working with an experienced agent who will work hard to find you the right apartment.

Second, start with the internet---especially TRULIA.com---but stay “local.” Here on TRULIA.com you can easily find a local professional by clicking on “FIND an AGENT” at the top of this page. There you can hone in on a seasoned professional in exactly the area where you wish to rent your apartment.

TRULIA provides exceptional tools to help you as a consumer understand the quality of the professional you’re working with. Read the agent’s profile; check out the recommendations from previous clients; get to know the level of experience of the agent and the areas that agent covers.

Third, real estate agents are prevented by Federal regulations from answering certain types of questions. They cannot discuss schools or school districts, crime statistics, and a variety of other issues prohibited by Fair Housing regulations. If your agent is vague when you ask certain types of questions, now you know why.

Finally, demonstrate your level of seriousness to your real estate agent. Show up on time for your appointments to view apartments. If you’re required to submit documents for the Landlord to review with your rental application, get them into your agent’s hands pronto. Not only does this help you potentially get one step ahead of a competing renter, but you’ll be viewed by the Landlord as a responsible renter. Landlords prefer responsible renters, don’t they?

I hope that helps you improve the results of your search for an apartment, and helps you with a better quality experience.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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Tue May 7, 2013
answered:
Their isn't a relationship as each value is used for a different purpose. County/City Assessors values are for property taxes.

Lenders Assessments are done when they are planning on perhaps selling their portfolio to show an increase or decrease of value. This is normally a desktop appraisal (if you will). More so for shareholders etc.

And a market value appraisal which is what many get prior to purchasing a home is used for loan purposes.

Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit
Ex-Mortgage Broker of more than 10 years
http://www.everlastingcredit.com
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Thu Dec 27, 2012
Johnnie Rosser answered:
I would be happy to help you. The most important part to making money in Real Estate is on the purchase side. You need someone that will help you find a good deal, so there is room for you to make a nice profit. I know of a few right now, and I always keep my eyes out for homes that investors can make money on.
Feel free to email anytime.
jrosser@remax.net
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Thu Jul 5, 2012
Jason Holmes answered:
Elk Mountain is a great community. Are you in college? If so, you might consider Bridgerland Meadows as a closer option.
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Thu Apr 19, 2012
Terri Sizemore answered:
I think the market has hit bottom. No one has a crystal ball, but if you pay a reasonable price for it now I see no reason why it wouldn't sell in 3 years. The condo/ town home market has experienced depreciation, but no more than the rest of the market. ... more
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Fri Apr 1, 2011
Jason Holmes answered:
That sort of depends on how it's used. You can "transfer value", or equity from one property to another. If you own a house that is worth $140,000 but you only owe $100,000, you have $40,000 equity or "transfer value" you can use for something else. ... more
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Fri Aug 27, 2010
Kristopher Furrow answered:
Hello Shana,
I have compiled this data using all solds for an approximate radius of 8 miles from the center of Logan.

The average Price Per SqFt. for the past 12 months $83.06 and the average Days on Market Are 86 and a Average sales Price to Original List Price Ratio of 94%.

Here is the Data I used... (I am not sure how it will display in Trulia. If you want these and other reports call me directly and I can send them to you in .PDF files)

Month Count Volume Mdn OL $ Mdn Sold $ Mdn S to OL Mdn SQ FT Mdn $/SQ FT Mdn Beds Mdn Baths Mdn CDOM
Sep-09 57 $10,859,198.00 $187,500.00 $167,000.00 89% 1,967 $87.27 4 2 91
Oct-09 72 $12,374,799.00 $169,900.00 $170,000.00 100% 1,907 $82.84 3 2 84
Nov-09 63 $10,901,421.00 $156,500.00 $150,000.00 96% 1,892 $85.65 3 2 70
Dec-09 46 $7,881,284.00 $164,949.50 $155,450.00 94% 1,865 $85.80 3 2 66
Jan-10 28 $4,456,854.00 $163,750.00 $144,500.00 88% 1,853 $80.94 3 2 113
Feb-10 41 $7,058,545.00 $170,543.00 $165,990.00 97% 1,792 $85.95 3 2 113
Mar-10 52 $8,879,721.00 $165,950.00 $157,000.00 95% 2,033 $78.43 4 2 100
Apr-10 66 $10,792,069.00 $169,900.00 $159,750.00 94% 1,961 $83.98 3 2 106
May-10 87 $14,474,337.00 $164,900.00 $151,400.00 92% 1,700 $84.93 3 2 78
Jun-10 78 $14,115,589.00 $174,400.00 $163,500.00 94% 2,028 $79.88 3 2 39
Jul-10 39 $7,022,148.00 $173,900.00 $168,000.00 97% 1,954 $87.00 3 2 52
Aug-10 33 $6,347,723.00 $176,449.00 $160,000.00 91% 2,200 $74.04 4 3 118



Thank you for using Trulia!
I hop you find this information helpful.

-Kris

Kristopher Furrow - Associate Broker

Member – 2010 Young Professionals Council
Salt Lake Board of Realtors

Windermere Real Estate - UTAH
Salt Lake City and Park City
2348 South Foothill Drive
Salt Lake City Utah, 84109
Direct: 801.999.8679
Office: 801.485.3151
Fax: 801.485.3152
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Mon Feb 2, 2009
Sarah Manning Brocksmith answered:
Most sellers will want to be moved out and have the contract closed an average of 34 days after acceptance. The best way to make sure your buying experience goes smooth is to take time now to prepare.

1. Get pre-approved (not just pre-qualified.) This will cut out the wait time you might experience otherwise. Remember when you find a home you want, a pre-approved offer could be the deciding factor whether your offer is accepted or not.

2. Once you have been pre-approved you will know exactly what price range you are going to shop in. At this point you can start looking online for homes in your price range to get an idea of what type of homes are available in your price range.

3. Shop for the right Realtor. The Realtor your neighbor or friend used may not be the right Realtor for you. Do some shopping around before deciding, and keep these questions in mind.
• Is the agent accessible by phone, email, or both?
• How long does it generally take your agent to respond to each?
• Is he/she available on weekends?
• What are his/her hours of availability/operation?

4. Shop for your home, but keep this in mind. You may find a home and have your agent put in an offer, yet the seller may not be willing to wait until June… but then again if they know you are pre-approved they just might accept. One thing is for sure, you’ll never know if you don’t at least try.
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Wed Jan 14, 2009
Lorie Gould answered:
The answer would depend on your goals! Would you be selling to buy a larger home or a smaller home? And how long do you expect to stay in your new home?

It is an excellent time to sell to buy a home that you would love to spend the next 7 to 10 years plus enjoying. Yes, you current home is not worth as much as you would like but the home you buy has also come down in value. If you are buying a larger home you can actually come out ahead! Thats right, ahead of the game!

Let's say you are selling a $200,000 and you take a 10% hit selling the home for $180,000. You feel a loss of $20,000. Let's say you are buying a $350,000 home. You have a huge benefit because chances are that $350,000 was valued at $400,000 or more in 2005, 2006, and maybe even 2007 so now the market has placed a home that would have been out of reach and placed it in your reach. Let's then say you give that $350,000 home a 10% hit costing giving that seller a loss of $35,000. Your $20,000 loss was just wiped away and you gained another $15,000 off the new home. Make sense? In addition, to the unbelievable prices thanks to depreciation coupled with the unebelievable negotiations you can get with a negotiation expert such as myself you will actually do better than the scenario that I presented above. A great agent can accomplish that for you. Lastly, I cannot fail to mention the unbelievable interest rates in the marketplace right now. There has never been a better time to sell and buy if you are not currently in a home that you wanted to spend the next 7 to 10 years living in. Use the market to buy your long term home! There has never been a better time to buy real estate for investment purposes either... long term investment purposes.

I hope that you will spread the work that this is the best time to buy on record!
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Thu Apr 24, 2008
Joe Michalski answered:
Cintia, there is no such requirement for roof access (on most homes you have to climb a ladder). I assume you might mean for a condo or apartment type construction. In this case, there are egress requirements, and if you have equipment (like an AC compressor unit) located on the rooftop, then access may be required so you can service it. In general, rooftop access is always a good idea to provide, but I have seen some VERY scary ones that I would not be traversing as an occupant (I wasn't all that thrilled about going up there even being paid to do so).

I have done TONS of new construction inspections through out the Philly area and can give you some advice, pointers, or (hopefully) even be of help to you.
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