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84125 : Real Estate Advice

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Activity 133
Mon Apr 28, 2008
Marvin Jensen answered:
Probably flat for another 18 months.
0 votes 2 answers Share Flag
Mon Sep 29, 2014
Marvin Jensen answered:
This price range has been slow to move. The good news is, new mortgage loan limits on conforming loans has increased from $417,000.00 up to $739,000, which means that higher loan amounts (jumbo loans) will have lower interest rates. With this, we should start to see improvement in this segment of the market. I think you would still be looking at about 90-120 days. ... more
0 votes 6 answers Share Flag
Fri May 30, 2008
Cheryl Lyon answered:
Victor,

Short answer to your question. Yes. There are avid outdoor recreationists who live in BCC and commute. However, the caveat is there are times when the snow is not cleared, necessitating the need to sometimes telecommute from home. Keep networking to find someone who has successfully navigated this idea, and other solutions they may have implemented.

Please share the solutions you find! Others have also wondered.

Cheryl Lyon
... more
0 votes 4 answers Share Flag
Mon Aug 24, 2009
M answered:
Dear Roslyn,
Congratulations! I would like to recommend Corie Seymour, Salt Lake City Real Estate. You can email her at this link: http://www.saltlakebankownedhomes.com/Util/EmailAgent.aspx?uid=307622&fromAgent=False
Also, her phone number is 801-554-4560. My firm can be found at www.marianschafferrealty.com. We help people locate retirement, second home and vacation property in the US and I have heard good things about Corie from a friend in Utah. The very best of luck to you!! If you need any other help or guidance, just email me. We know a lot of people in this business and don't mind helping.
terry@marianschaffer.com
The Schaffer Realty Group
... more
0 votes 9 answers Share Flag
Mon Apr 14, 2008
oknothere answered:
Kathy,

If you are looking near the University of Utah Medical Center then there are many homes that would fit what you are looking for. I would be very happy to assist you with this search so please feel free to contact me.

Andrew Stone
Windermere Real Estate
... more
0 votes 5 answers Share Flag
Fri May 30, 2008
Cheryl Lyon answered:
Janina,

The age of a home is one of many factors to consider in a home's price. Hand in hand is the condition the home is in for its age.

It's interesting that some buyers absolutely love an older home because of its unique characteristics, while another buyer will not love the same home for the same characteristics. This affects the offer price each might make for the same home.

There is a relationship between the age of a home and its selling price. A real estate professional can help you determine that relationship, working with all the factors that affect the selling price of a home.

Happy home shopping,
Cheryl Lyon
Coldwell Banker Residential Brokerage
801.633.6855
... more
0 votes 4 answers Share Flag
Mon Aug 12, 2013
Michelle answered:
Contact Jon Paulos. He helped me recently and has a vast amount of knowledge. 801 943-7070 or 801 641-8998 (cell). He owns a listing agency for properties to be sold or for lease.

Good luck. ... more
0 votes 16 answers Share Flag
Fri Feb 29, 2008
Brendan Murphy answered:
Generally more is better, but not always. What if 500 of your square feet is all in hallways, or it just has a terrible layout? What if there is some sort of serious defect with the house? In other words, there are literally over 100 factors that play into a home's price, living area is among them. Some appraisers (and all economists) use MRA (multiple regression analysis) to value a home, where y=price, x=all the factors
so like y=x1+x2+x3+x4+.......xn+c. X1 could be "square footage, x2 could be #bedrooms, x82 could be type of exterior finish (siding, masonry, whatever)....and so on.
Using a method like MRA one could certainly tell you the constant factor of living area on a house in geographical area Z in time period T. But even then, it still doesn't tell you the value of your home without all the other x's. So keep in mind, everything from the location to the faucet handle on the sink affects the value of your home, it's not simple. If it were, appraisers and perhaps REALTORS would be out of business :)

Brendan Murphy
Broker, CRS, GRI, ePro
Raving Real Estate
Laramie, WY 82070
... more
0 votes 5 answers Share Flag
Sun Jun 8, 2008
Cheryl Lyon answered:
Good morning Liz,

Price per square foot is a good way to evaluate a property. However, it is area/neighborhood dependent. Also, the current market conditions will weigh most heavily, and not the past 3 years. Your real estate professional is your best tool for guiding you in choosing a home in an area you want to live in, and then assessing how that particular home is positioned in the market, and then a fair price to offer to a seller.

Your conclusion that the inventory is extensive in the southwest area is accurate.

Contact a real estate professional, someone who works in the real estate market full time. Their expertise, knowledge, and networking will work for you in your goal of being comfortable with your decision, and looking back with no regrets.

Happy house hunting! It is a great time to be a buyer.

Cheryl Lyon
Coldwell Banker Residential Brokerage
801.633.6855
... more
0 votes 10 answers Share Flag
Tue Jun 10, 2008
Mark Yeates answered:
Liz,

Real estate is always a great investment, no matter if it is a up or down market. We have recently gone through some lows that have mad this an idea market to purchase in. I have recently seen a night and day difference in the market and some of the ideal situations may be slipping away. One last factor you may consider is interest rates. Interest rates have not changed much the past couple of years, and have been quite low lately, but any increases will greatly raise your monthly payment. I would be happy to meet with you and show you your options. ... more
0 votes 17 answers Share Flag
Mon Sep 19, 2011
Cheryl Lyon answered:
Salt Lake is a great market to be a buyer. There are many properties to choose from. Salt Lake's real estate does not seem to follow the trend reported so often in the national news, although we do feel some impact from what is happening nationally.

You mention the Health Sciences Center. Is this by the University of Utah, or the new health sciences center that just opened in the midvalley area?

Please call. Your best option is to evaluate good accurate information about our market in making a decision to rent or buy. I'd be happy to help you with that. You will love all that the Salt Lake area has to offer. Your indicated price range in a condo/townhouse is very possible. I look forward to talking with you.

Cheryl Lyon ABR,GRI,e-PRO, Previews, REALTOR
Coldwell Banker Residential Brokerage
801.633.6855-cell or text
... more
0 votes 7 answers Share Flag
Tue Apr 1, 2008
Perry Henderson answered:
Foreclosure reality check.... Seasoned investors who buy foreclosures know the REO manager at the bank and get "off market" deals. They never have to bid or find a place to learn what's available.

FOR ALL OTHERS: The only "sellers market" in america is the foreclosure market. Don't expect any deals from a foreclosure as the bidding process brings 20-30 people to bid on almost every deal. A deal that was already priced at market.

It's easier to get a deal by going to a realtor, asking them to find the oldest property on the market and start dropping discounted offers. In addition, you won't have to wait 30-60 days to hear an answer.
... more
0 votes 5 answers Share Flag
Mon May 26, 2008
Mark Yeates answered:
The most current info we have is for the first quarter of 2007. The average increase in Salt Lake County was 18%. Some areas of Sandy and West Valley City hit numbers above 25%, while Holladay had problems at -5.6%. The second quarter results should be available in the next couple of weeks and I expect big changes as our local market seems to be changing from a strong sellers market to a weak buyers market. Contact me by phone or e-mail and I can e-mail you the reoprts. (801)755-0490, marky@remax.net. ... more
0 votes 3 answers Share Flag
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