Salt Lake Real Estate Blog - Tony Fantis

15th & 15th, Salt Lake City Neighborhood with Class and Style

Thu, 23 Jul 2009 22:33:45 -0500

Nestled near the Harvard/Yale & Yalecrest neighborhoods in Salt Lake City is a little gem known affectionately as 15th & 15th. (view on map) Right in the middle of one of Salt Lake's most popular neighborhoods you'll find a hot little neighborhood cultural center. It's full of some of my favorite restaurants and one of the best book stores in town.

Restaurants & Sips

Paris - This is a favorite of mine at which to treat professionals relocating to Salt Lake City. Sure, there are plenty of restaurants in town with good food...a welcome change from 15 years ago. But Paris has excellent food and even better service. During the summer there's a delightful outdoor patio (a theme in this neighborhood).

Mazza - Dive into the Middle East at Mazza. This little gem was the winner of Salt Lake Magazine's award for "Best Middle Eastern Restaurant" for three years in a row! One can often find some fresh specials made from scratch by hand! If you're interested, you can also find some wine & beer imports from the Middle East to round out the dinner. Smack in the middle of the 15th & 15th neighborhood!

Fresco - Blink and you'll miss it...you'll find Fressco on the same block as all the others on the east side of the street. The restaurant focuses on simplicity of environment coupled with great food and a wonderful dining experience.

Einstein's Bagels - Everybody eats bagels, right? A great stop for some quick breakfast, a nice sandwich, and some very yummy orange juice.

Starbucks - Yes, there is a Starbucks here, too. I once slammed my finger in my car door while showing houses, and Starbucks gave me a bag of ice. Thanks! What would 15th & 15th, or any neighborhood for that matter, be without a Starbucks?

And much, much more...

There's also an excellent book store, "The King's English" located on this block. Don't leave out the salon and two art galleries. Did I miss anything?

Real Estate

Homes in the 15th & 15th area currently range from $200-$600k, with the majority of real estate landing comfortably in the $350-$450k range. Stlyes range from bungalows and tudors to rambler and modern.

Sales in the 15th & 15th area have increased 70% over the first quarter of 2009. While sales have not returned to the record levels of several years ago, this area escaped the downturn relatively unscathed. Most homes maintained value or loss less than 10% of their value in the last two years. And prices are on the rise again!

You can search the 15th & 15th neighborhood homes for sale at Saltyhomes.com.

Doing the Right Stuff - Prospecting

Thu, 14 May 2009 08:58:10 -0500

Hands down, the best advice I've ever seen...

While many people are scrambling for work, some agents are thriving in the down economy. As I survey other busy agents, they all tell me the same things. They've been doing the "Right Stuff" consistently for a long time.

Check out this article!

Tony =)

Via Anna 'Banana' Kruchten, Anna Banana Realty, Phoenix AZ:

Do The Right Stuff!

Ask this guy about doing the right stuff and he'll tell you. Short, simple and to the point. You need a pan, a donkey, the right tools and lots of stamina, and all the while you must stay focused on what you're looking for...gold.

When you're looking for your gold mine in real estate, you need to do the same stuff over and over and over again. And then start all over. It's not complicated. It's not hard. It's not rocket science. Just do it. Here are the tools the agents in our office are taught to follow every day. Not once in awhile, every work day.

1. First thing every day, think of all the stuff you are grateful for and continue doing so throughout the day. Keep a grateful journal if that helps you stay in touch with all the good happening in your life. Share your grateful list with office mates. That's kind of like 'sharing the wealth'. Spread only the good stuff around and focus only on the good stuff. JDI.

2. Show up with a can-do attitude. You do know what that looks like, right? Of course you do. Smile. JDI.

3. Work 'on' your business for the first hour. Do not open emails or take phone calls. Stay focused on the project on hand and get it done first. Why no emails or calls? You know why. Emails can suck up a lot of time and then ......whoa......it's 11:00 and you don't have anything accomplished yet. Just try this for a week and see what a difference it can make. JDI.

4. Personal notes, write at least 2 a day. There are many people who understand the power of the 'old fashioned' hand written note. They are the successful agents. Model their behavior. This is a simple relationship building tool that takes less than 5 minutes a day. JDI.

5. Look over your 'hot list' of prospects/clients. Always be thinking, who is ready to buy or list their home, THIS week? These are the hot ones that will buy or list with somebody. It may as well be you, right? JDI.

6. Look over your 'warm' list of prospects/clients. Is there anybody that needs an MLS search set up, a CMA sent to them, an invite to coffee or lunch. This warm list most certainly will turn into the hot list when the time is right for them. If you are at the 'top of their mind' they will most likely call you when ready to buy or sell. JDI.

7. Love calls (come on now be serious, stay focused here). These calls are short, no more than 3 to 5 minutes because you don't want to be the 'one' that people think.....on no it's him/her calling....how will I ever get them off the phone. Ask FORD questions ( Family, Occupation, Recreation, Dreams) and then LISTEN to what they are saying. The gold is in the listening part. Are they getting married or divorced? New baby on the way? Big loud teenagers that need their own space? College kids out of nest soon? Older parents moving in with them? There are many reasons to buy or sell and it's your job to listen to their current and/or future needs and wants. Think of something of value for them. Follow up. JDI.

8. Schedule 2 coffees or lunches with prospective clients and/or business associates weekly. No explanation needed here. Everyone knows about Starbucks. JDI.

9. Network weekly. Get out in the flow of people. Join the chamber of commerce or other groups and get involved in your community. JDI.

10. Blog. I'd like to say blog every day but I know that a lot of agents will groan loudly. So do this....blog 2 to 3 times a week until you understand the power of what blogging can do for your business and then start blogging 5 days a week. Along with blogging, join the Active Rain Social Network. JDI.

11. Talk to 50 people per week face to face. Or more. Every live person counts as long as it's not family or friends. Don't cheat yourself. This is a real gold mine producer. JDI.

12. Course Correct. If you find you're not doing the right stuff, course correct. Don't get out the sledge hammer - that takes way too much energy. Just simply review the list and start over. If you need support, ask for it. Don't wait a week or month for help. Ask right away if you're going off course. A great team will be there to assist you. And so will your Broker. JDI.

Now I know there are many other real estate related activities that need to be accomplished ie: open houses, farming, newsletters, correspondence etc. Fit them in as required. But don't get bogged down in the details and forget to prospect. Many agents do this very thing and wonder what happend 90 days or so out and wonder where the clients went. I know, I was one of them years ago before my new broker taught me the right stuff to do.

That's it. Do the right stuff and you will create a gold mine. JDI.

See you on the Mountain!

Federal Bailout Money Stuffed into the Pockets of Eager New Home Buyers

Thu, 19 Mar 2009 09:47:57 -0500

The Utah legislature just took some of that federal bailout money coming its way and pushed it into the waiting hands of soon-to-be new home buyers. While the program, dubbed the Home Run Grant, has been approved, it will likely be the end of this week or next before any funds will be available through Utah Housing.

Of course, with any grant or government program, there are many stipulations. First, the home or condo must be new. Generally, a new home is considered to be one that has not been lived in before.

The next stipulation is based on income. The limits have been set high, with $75,000 for an individual or $150,000 for a couple filing jointly. Married couples filing jointly get a nice workaround for the $75k limit, as one person could make $100,000/year as long as the total joint income is less than $150k.

For the full article about the $6,000 new home buyer grant in Utah, read http://utahpulse.com/featured_article/6000-grant-utah-new-home-purchases.

To view every home listed for sale in Salt Lake City, visit http://www.saltyhomes.com!

Sarah Palin as President website a big hit among Salt Lake voters

Fri, 31 Oct 2008 09:56:04 -0500

Interactive website is enjoyed by both Democrats and Republicans

It seems everyone's getting into politics this year, not just Saturday Night Live. And Sarah Palin is no exception.

There's a new, interactive website in which visitors can tour the oval office and meet Sarah Palin. Visitors can go around the room and click on various items to hear "Sarah Palin quotes." You can open windows, click on things on her desk, check out the wall hangings, and even hear some funny non-political quotes by clicking on the statue with the scales.

So have fun and take a moment to let it all out before the election. You'll be glad you did!

And if you know someone planning a move / relocation to Salt Lake City, call me. They'll be glad you did!

Search engine optimization is key, here.

Click on the picture or type in this URL to visit the site: www.palinaspresident.us

To search all Salt Lake City real estate for sale in Utah, please vist www.saltyhomes.com.

How to know EXACTLY when home prices have hit ROCK BOTTOM!

Sun, 20 Apr 2008 10:40:35 -0500

You can play the housing market just like the stock market. But do you really want to?

There's one sure-fire way to know when the market has hit bottom. It works every time, and it is the method that most people use. It has always been this way and always will be. Are you ready?

Wait for the market to go back up. That's right, most people wait for prices to go up before they buy. It's the only way to know that a recovery has begun.

Smart investors don't wait for the graph to begin to rise. Their goal is to get in while the prices are still low. They use many, many methods but the bottom line is they don't wait until it's too late to get into the game.

Of course, if you're buying for a long term investment, just about any time is a good time to buy. There has never been a 10 year period in which real estate was worth less than someone had paid for it.

If you're looking to buy real estate in Salt Lake City, Utah...now is an excellent time to jump in. As you can see in this graph from "The Fantis Report," inventory is high and sales are low. It is a great opportunity for bargain shopping, in most cases. Every market is different. Remember, there are markets within markets. Be sure to consult with your local real estate expert before jumping in.

FIVE easy questions help prequalify buyers BEFORE going $hopping...

Sat, 19 Apr 2008 18:36:22 -0500

Everybody knows loans have changed...or do they?

Every week I talk to buyers who don't know loans have changed. In many cases, people need 5-10% or more, depending on the type of property. Many buyers don't know this!

If we show homes without asking the critical questions, we're doing ourselves AND the public a lot of disservice. Here are some ways to ask if someone is pre-approved for a loan:

Do you have a preferred lender or loan officer/originator?
What type of loan are you going to utilize for your purchase?
Interest rates have been really volatile lately. What did your lender quote you?
Is your lender charging you closing costs up front, or rolling them into the loan?
Have you locked an interest rate and if so, when does the lock expire?

I'm sure are there are many other questions and ways of asking if buyers are on the right track. Any other ideas out there?

Tony Fantis, ABR, Associate Broker
RE/MAX Associates - Salt Lake City, Utah
www.saltyhomes.com

Salt Lake living in this bungalow for under $200k!

Sat, 19 Apr 2008 18:16:57 -0500

MLS #:	792023	Tour/Open:
List Price:	$189,000	Status:	Active
CDom:	1
Address:	609 E WILSON AVE
NS/EW:	1750 S / 609 E	Area:	102
City:	Salt Lake City, UT 84105
County:	Salt Lake	Restrict:	No
Proj/Subdv:	SEVENTH EAST ADD.
Tax ID:	16-18-430-013	Taxes:	$1,412
Zoning:		HOA Fee:	$0

School Dist:	Salt Lake	Elem Schl:	Hawthorne	Jr High:	Clayton
Sr High:	Highland	Priv Schl:	Rowland Hall-st Mark's	Other Schl:

Lvl	Approx Sq Ft	Bed Rms	Bath			Fam/ Den	Dining				Laun dry	Fire Plc
Lvl	Approx Sq Ft	Bed Rms	F	T	H	Fam/ Den	K	B	F	S	Laun dry	Fire Plc
4 3 2 1 B	0 0 0 884 780	0 0 0 1 1	0 0 0 1 0	0 0 0 0 0	0 0 0 0 0	Y	Y			Y	Y	0 0 0 1 0
Tot	1,664	2	1	0	0	1	1	0	0	1	1	1

Type:	Single Family
Style:	Bungalo/Cottage
Yr Built: Deck\|Pat: Garage: Carport: Prkg Sp: Fin Bsmt:	1914 0 \| 1 1 0 0 50 %	Under Const: Acres: Frontage: Side: Back: Irregular:	No 0.10 0 0 0 No

Roof:	Asphalt Shingle	Basement:	Daylight, Shelf
Heating:	Forced Air, Gas Central	Garage/Park:	Detached
Air Cond:	Central Air Electric	Driveway:	Concrete
Floor Cov:	Carpet, Hardwood, Tile	Water:	Culinary
Window Cov:	Part	Sewer:	Connected, Public
Pool Feat:		Possession:	RECORDING
Exterior:	Brick
Landscape:	Vegetable Garden
Lot Facts:	Curb & Gutter, Fenced Part, Sidewalks, Terrain,Flat
Exterior Feat:	Bay/Box Windows, Patio, Porch Open
Interior Feat:	Den/Office, Dishwasher, Hardwood Floors
Amenities:	Cable TV avail, Cable TV wired
Inclusions:	Alarm System, Ceiling Fan, Range, Refrigerator, Satellite Dish, Window Covers
Exclusions:	Dryer, Washer
Terms:	FHA, Conventional, VA, Cash
Remarks:	DON'T PASS UP THIS NEIGHBORHOOD AT AN EXCELLENT PRICE! NEWER ROOF, FURNACE, WATER HEATER AND CENTRAL AIR * ENJOY A RARE, SPACIOUS KITCHEN, BEAUTIFUL HARDWOODS AND GORGEOUS BUILT-INS IN THIS CLASIC BRICK BUNGALOW WITH A RELAXING FRONT PORCH!

Show Inst:	Call Agent/Appt			Ownr:	FERGUSSON
Contact:	S:Krista M-F 9-5			Ph:	801-365-3388	Ph2:
L/Office:	RE/MAX Associates - Sugarhouse			Ph:	801-930-6700	Fax:	801-930-6701
L/Agent:	Anthony J Fantis	Ph:	801-365-3366	Fax:	801-365-3367	Mbl:	801-541-8806
BAC/SAC:	3/	Dual/VAR:	No	Subagency:	No	Lst Type:	ERS
		Wthdrwn Dt:		Off Mkt Dt:		Exp Dt:	10/18/2008

Sugar House / Highland Park Bungalow for sale with NICE updates!

Sat, 19 Apr 2008 18:11:49 -0500

MLS #:	785664	Tour/Open:	Tour /
List Price:	$288,900	Status:	Active
CDom:	19
Address:	2764 S 1500 E
NS/EW:	2764 S / 1500 E	Area:	102
City:	Salt Lake City, UT 84106
County:	Salt Lake	Restrict:	No
Proj/Subdv:
Tax ID:	16-28-106-016	Taxes:	$1,589
Zoning:		HOA Fee:	$0

School Dist:	Salt Lake	Elem Schl:	Highland Park	Jr High:	Hillside
Sr High:	Highland	Priv Schl:	Judge Memorial	Other Schl:

Lvl	Approx Sq Ft	Bed Rms	Bath			Fam/ Den	Dining				Laun dry	Fire Plc
Lvl	Approx Sq Ft	Bed Rms	F	T	H	Fam/ Den	K	B	F	S	Laun dry	Fire Plc
4 3 2 1 B	0 0 0 844 832	0 0 0 2 2	0 0 0 1 0	0 0 0 0 1	0 0 0 0 0	Y Y	Y			Y	Y	0 0 0 0 1
Tot	1,676	4	1	1	0	2	1	0	0	1	1	1

Type:	Single Family
Style:	Bungalo/Cottage
Yr Built: Deck\|Pat: Garage: Carport: Prkg Sp: Fin Bsmt:	1944 0 \| 1 1 0 0 100 %	Under Const: Acres: Frontage: Side: Back: Irregular:	No 0.12 0 0 0 No

Roof:	Asphalt Shingle	Basement:	Daylight, Entrance, Full
Heating:	Forced Air, Gas Central	Garage/Park:	Detached, Extra Width
Air Cond:	Evap. Cooler Roof	Driveway:	Concrete
Floor Cov:	Carpet, Hardwood, Tile	Water:	Culinary
Window Cov:	Blinds, Part	Sewer:	Connected, Public
Pool Feat:		Possession:	RECORDING
Exterior:	Brick
Landscape:	Full Landscaping
Lot Facts:	Curb & Gutter, Fenced Part, Sprinkler, Auto-Full, Terrain,Flat, View, Mtn
Exterior Feat:	Awnings, Bay/Box Windows, Outdoor Lighting, Patio Covered, Storm Windows
Interior Feat:	Dishwasher, Disposal, Gas Log, Hardwood Floors, Kitchen-Updated, Range Oven Free Std.
Amenities:	Cable TV wired, Gas Dryer Hookup, Home Warranty
Inclusions:	Microwave, Range, Refrigerator, Water Soft Own
Exclusions:	Dryer, Freezer, Washer, Window Covers
Terms:	FHA, Conventional, VA, Cash
Remarks:	CLASSIC SUGAR HOUSE BUNGALOW * NICELY UPDATED IN A GORGEOUS NEIGHBORHOOD * YOU MUST SEE INSIDE THIS HOUSE! ONE OF THE QUIETEST LOCATION OF SUGAR HOUSE WITH LITTLE TRAFFIC * FENCED YARD, COVERED PATIO AND PLENTY OF FINISHED SPACE MAKES THIS HOME STAND OUT!

Show Inst:	Call Agent/Appt			Ownr:	BAXTER
Contact:	S:Krista M-F 9-5			Ph:	801-365-3388	Ph2:
L/Office:	RE/MAX Associates - Sugarhouse			<!--width="30">-->Ph:	801-930-6700	Fax:	801-930-6701
L/Agent:	Anthony J Fantis	Ph:	801-365-3366	Fax:	801-365-3367	Mbl:	801-541-8806

Take a VACATION or ROLL THE DICE on some buyers?

Sat, 19 Apr 2008 17:42:15 -0500

Every time I go on vacation, business improves. I think it happens for a lot of reasons, but now I am trying to decide whether or not to cancel my 4 day beach trip to San Diego.

Here's the deal. I've been chatting online with some buyers from California. They're definitely going to buy a house. They're definitely coming to town when I was planning on being gone. My tickets are not booked yet.

I sent the paperwork for them to sign and haven't seen anything yet. They keep saying they're going to send it, but they haven't. They still want daily help.

One more piece to the puzzle: the husband is an attorney and a real estate broker. My gut instinct tells me they would sign if they wanted to work with me, and that I'm just spinning my wheels.

What would you do? Take the vacation? Stay just in case it really pans out? Continue to help and hope they'll sign? I know some agents never get paperwork signed until they write the offer, which in many states means they're really working for the seller without a buyer agency agreement.

Tony Fantis, ABR, Associate Broker
RE/MAX Associates - Salt Lake City
www.saltyhomes.com

Spacious Sandy Rambler-Home for Sale with Breathtaking Views!

Thu, 17 Apr 2008 22:57:55 -0500

$335,000 United States Dollars!

4 bedrooms + study

3 bathrooms

2 car garage with extra storage

2 family rooms

Gorgeous deck with walkouts from kitchen and panoramic views!

Wet bar

Vaulted ceilings in the living room with views of the mountains!

This house has an excellent, flowing floor plan and is a great place for elbow room, entertaining, or relaxing. The kitchen has two walkouts to the deck, with a walkout basement and a fully fenced yard with mature landscaping.

Priced to sell!

View the full listing of this Sandy home for sale and awesome virtual tour at www.saltyhomes.com.

Should Membership Dues for Realtors Triple in Cost for 2009?

Sun, 13 Apr 2008 16:52:50 -0500

Last year, more than 400,000 Realtors didn't sell a single home. That's a lot. And in my home state of Utah surrounding Salt Lake City, the average Realtor sold 1.3 homes. What is going on?

Put simply, there are too many Realtors. It's too easy to get a license. It takes less time to get a real estate license than to be licensed to cut hair. Both are important jobs. One is under-regulated.

So if the states won't make adequate licensing requirements for agents, then it falls on the Realtor organization. Now I'll likely get some hate mail for this, but let me be the first to say I'd pay triple my Realtor dues in order to flush out non-producing agents.

It is NOT a benefit to consumers to have 400,000 Realtors roaming around with no experience. Sure, there will always be new people involved. But for now we're diluting a product and devaluing our profession.

By increasing our dues, we can provide better training to Realtors and more value to consumers. People who cannot afford it will have to drop out. Survival of the fittest...just like any other business.

I volunteer to pay triple my dues for 2009. Anyone else wanna pony up? Any other solutions or suggestions?

Brace for Impact - Salt Lake County 1st Quarter Market Trends

Tue, 08 Apr 2008 03:48:32 -0500

Now we've done it.

The number of listings in Salt Lake County for the 1st quarter of 2008 was the highest we've seen in the last ten years. Generally speaking, that means LOTS of people are selling, or at least trying to sell.

Are you sitting down?

The number of sales for the same time period was at a 10 year low. That's right, we've had the fewest number of buyers we've had in a long, long time.

What does this mean?

It is perhaps too soon to tell, but the disparity in the numbers has never been greater for as long as we've been tracking them electronically with the MLS for Salt Lake County. But unless buyers come out in droves this spring, it will be a clear buyer's market. Will there be price slashes beyond belief? Doubtful. Few sellers in Salt Lake County truly have to sell. Many just want to sell.

The fire hose effect.

With the youngest population of any state, excellent job growth, low unemployment, and record setting in-migration...Utah is poised to lead the country in growth for what has been estimated by many to be the next 15-20 years. Imagine a virtual fire hose of new buyers flooding the market at all times. Now imagine that hose getting partially clogged. Pretty soon that hose begins to bulge (remember the cartoon images?) until it is ready to burst. It will happen. It's just a matter of time.

Brace for impact.

Thinking of selling? You may want to get it on the market NOW. With growing inventory and record low buyer numbers, prices are going to slide down considerably this spring if the trend continues. If you have no immediate need to sell, hang on to your property. It's value will return soon enough!

Mark Your Territory and Make the Big Bucks!

Sun, 06 Apr 2008 21:35:19 -0500

Is it about survival of the fittest?

Not too long ago in a land not too far away, Realtors were sparse creatures. They could roam for miles without bumping into each other. They owned their territory.

Then some cataclysmic event caused the Realtor population to explode! What happened?

For many reasons, everyone and their cousin went out and got a license. Soon after, you couldn't enter a room and spin your arms without knocking a few Realtors over. In a nutshell, the business switched from "neighborhood specialists" to "working with your cousin's uncle." After all, all Realtors are the same, right? ;-)

So now we're dealing with a dense population of creatures (Realtors, in this case) roaming the earth with a suddenly dwindling supply of food. It's time for survival of the fittest.

Does this survival involve claiming territories again? Some say no. After all, information is so readily available online (we're all contributing every day).

But some say yes, and I think I'm leaning toward this side of the argument. As information becomes increasingly available, people will desire local, specialized knowledge that can really put it all together. After all, anyone can go online and read hotel reviews. But the hotel is rarely what you were expecting, really.

So I'm going to put it out there...I think thins are heading toward specialized knowledge and information regarding local markets. Nobody wants a hotel review that isn't quite accurate. And nobody wants a Realtor that doesn't quite know what he or she is talking about. I'm not being mean, I'm just stating the obvious. =)

Try building a website that truly caters to a small community. You'll get buy-in from the community, which is ultimately what will make you successful!

My Crystal Ball - FHA Loans Will Become a Major Player this Spring

Sun, 06 Apr 2008 10:17:41 -0500

Fannie Mae changes its loan-buying rules, while FHA steps up to the plate.

Historically, many people have avoided FHA loans due to two big factors: a 1.5% up front funding fee, and (for most people) monthly mortgage insurance for at least two years. But now, other factors are involved that can make FHA loans look quite attractive.

Fannie Mae, the kinda sorta government/private company that buys loans just announce they're not going to buy loans with credit scores under 580. They've also just announced their fees for a person with a score between 660 and 680 will be 1.5%, double that of a person with a score of 720 or above. Couple that with the extra interest rate they're charging for that credit score difference and suddenly FHA looks pretty competitive.

And don't forget the luxury market. In Salt Lake City, Utah the FHA loan limits recently increased from $363,000 to $729,000! Holy moly! Now luxury buyers can buy with only 3% down! Who else is offering that?

I'm not saying that all this is good in the long run. But maybe it is. If our economy is truly teetering, maybe a little intervention will keep it from going over the edge.

So here's my prediction. Government insured FHA loans will become a significant player in the home loan market this spring. Before you knock it, try it. I've got a personal home loan at 5.375% I just secured a coulpe months ago. And yes, it is FHA <GASP>!

Google Maps - 7 Ways to Be More Visible, Provide Superior Service, and Get Noticed!

Sat, 05 Apr 2008 10:39:25 -0500

Yet another powerful tool we can utilize in our quest for excellence!

Two weeks ago I was browsing Google Maps when I stumbled across a little button called "My Maps." And that's when things got out of control!

I suddenly had a virtual cornucopia of ideas about what I could do with the mapping service! Here are some examples:

You could:

Add your office. Now it's easy to give people directions, you just send them a link to your Google Map!
Add a link to your website. Now when people find me they can click on my site. Cool!
Create a map overlay. Define a neighborhood or show the territory your business covers!
Add points of interest. Show the first house you sold, or where you got engaged!
Create custom directions. Show people how to get from the airport to your office. Relocation buyers rejoice!
Depict neighborhoods on a map. Help your web visitors get the lay of the land.
Show a list of homes you've sold. Don't forget to ask at listing presentations if the "other" agent has done this!

Once you've created some maps you can add them to your website, your blog, or insert them in email whenever someone needs directions or more information. I have to wonder is this would also improve our Google Rank and help us with Search Engine Optimization (SEO).

These are just a handful of ideas...the possibilities are endless! What kind of map would you like to create?

Variable Rate ARM - When does it make sense?

Sat, 05 Apr 2008 09:57:40 -0500

Every loan product can be a perfect match for the right home buyer.

Three years ago I helped my cients, Bob and Kristin, relocate from New Orleans to Salt Lake City, Utah. They needed a referral for a lender, so I gave them the top three loan officers I know. Then I took them shopping for a new home in Salt Lake.

After we got the house secured (there were 6 offers on the house in its first day on the market!) I heard from the buyers they're planning on getting a 3/1 ARM. What?!%*? They want a loan that pays off little in principa, and will have a variable rate after three years?

Yep, it turns out this loan is a perfect match for them. They are young doctors finishing up their training. They're going to make OK money for a few years, then income will increase substantially. In the meantime, they want a decent house but don't have a lot of extra cash around. So the ARM keeps their payment down. More info on adjustable rate mortgages here.

The two other major elements that made this loan the perfect match for my clients were timing and market. The market was steadily appreciating, so there wasn't much risk. In three years the house is worth approximately $40-50k more than they paid for it. The timing is directly related to the three years it will take before they can go out on their own and finally make a good living. Right at the time the loan assumes a variable rate, they're selling.

I agree, it might be better if they were paying down the principal. (I can hear my accountant lecturing me now.) But the truth is, for these clients in this situation, the Adjustable Rate Mortgage (ARM) was a perfect match!

Real Estate Technology Conventions - Who are these things for?

Sat, 05 Apr 2008 09:39:19 -0500

"Tech Fairs" are geared to a certain customer. Is one right for you?

I love technology, gadgets, and lifelong learning. And I love to browse through the tech fairs to see what's going on. But it never fails, the classes that are attached to these events are often rudimentary, at best. Why?

I don't really know, though I suspect they're targeting the broadest audience. If I were a technology business this buyer would fit two major criteria. First, they would have to have money. Second, they would have to see how their life will be easier with the product. The person who fits the bill is often a real estate agent without a lot of technology background.

As a result, the classes tied to these events (at least for me) have been rudimentary, at best. But that's the target audience. Everything i just fine with that, it just leaves me wondering...where is the beefy training?

Turns out the best I've found so far is happening right here on Active Rain! Thanks to everyone for sharing your thoughts, suggestions, and experiences. I believe that agents helping each other only makes us all better. And that's good for us AND our clients!

Centerville Home Shopper's Delight!

Wed, 02 Apr 2008 23:49:06 -0500

$239,900

Centerville 4 bedroom 3 bath with 2 car garage and RV/boat parking. Walkout from the kitchen and dining room to a sweeping view of the mountains on a gorgeous wood wraparound deck! Did I mention the natural gas BBQ on the deck?

There are many updates in the home and it is ready for you to call it home!

Please visit the complete virtual tour online!

Thank you for stopping by...

To view this home and any other listing on the Wastch Front, please visit www.saltyhomes.com!

Sandy Condo Living with a View!

Wed, 02 Apr 2008 23:31:53 -0500

$192,000

3 bedroom 2 bathroom 2 level condo with TWO garage parking spots!

Don't miss this opportunity for spacious living on the top floor with many upgrades and gorgeous custom paint! Enjoy a master suite with a walk in closet, your own private deck with valley views, and clean living!

Take the complete virtual tour online!

Thanks for stopping by...

View this and every other Utah home for sale at www.saltyhomes.com!

Updated Sugar House Bungalow - Yeah!

Wed, 02 Apr 2008 23:23:11 -0500

$299,900 Priced to Sell!

4 bedrooms, 2 bathrooms, and a 1 car garage. Check out the granite with the kitchen updates, and the beautifully finished downstairs family room and extra beds. This house shows well and is priced to sell.

Take the virtual tour online!

Thanks for stopping by...

Tour this and every Salt Lake listing at www.saltyhomes.com

Downtown Salt Lake City Condo for Sale

Sat, 29 Mar 2008 22:36:02 -0500

The Towne Park Condominiums

HOA $149,900 2 bed 2 bath, 900 square feet. New carpet and paint. Secured parking with elevator. Heating, cooling, and cable included in the fee. Lounge by the pool, relax in the hot tub, or visit the nearby businesses and parks of downtown Salt Lake City! Excellent freeway access. Hurry...the last three sales for this unit were all in the $150's!

Click here to view the full virtual tour!

Thanks for stopping by!

Tony =)

Strangers with Candy - Do You Show the House or Not?

Fri, 28 Mar 2008 20:51:49 -0500

Your phone rings. Somebody wants to see a house...right NOW. What do you do?

It happens all the time. Some "stranger with candy" calls and wants to see a house. Of course, we all know the "candy" is the commission we're already spending in our heads. A cruise in the Caribbean sounds nice right about now, doesn't it?

It seems every other month or so we all get the news. Another agent has been murdered, raped, beaten, or had their car stolen. So the question is, at what point do you consider a "stranger with candy" safe?

Here are some warning signs, but I'm curious to know what kind of questions you ask strangers who want to see homes.

Consider it a warning sign when they:

have to see the house right now. No other time will work.
refuse to meet you at your office.
are calling from someone else's phone and (for any reason) you can't reach them on their own phone.
refuse to give you their full contact information.
insist on driving their own car ( in most circumstances)

What kind of pre-qualification questions do you ask your potential buyers? I've got to thank Mom right now for all those years of excellent advice. "Whenever a stranger wants to give you something or get them to come with them...RUN!"

Is it YOUR fault the sellers backed out on your buyer?

Thu, 27 Mar 2008 09:44:00 -0500

How your earnest money advice can make or break a deal

I recently read a post from a local agent suggesting that .5%-1% of the home's value is a good earnest money amount. GASP! The agent is trying to "protect" the buyers' interests by limiting their financial exposure. The agent truly believes he is doing the buyer a favor. I disagree.

So you and your buyer finally get that $200,000 house under contract. To 'protect your client' you suggest they write a $1000 earnest money check. Now the sellers aren't excited about that, but they accept it. So far, so good.

Now along comes Suzie and Jonah Homebuyer, also looking to buy a home. Jonah saw the home (soon to be you're buyers' home,we hope) last week and LOVED it! He was just waiting for Suzie to get back from a short trip. Jonah and Suzie want the house badly enough that they offer the sellers $5,000 more than your buyer did. The sellers accept it. Have you ever heard the phrase, "So sue me?"

The sellers refuse to close with your buyers. Now what do you do? Your buyer could sue for specific performance to get the house, or they can get their earnest money back. In many states, the seller would owe them double their earnest money, too.

The sellers know your clients probably won't sue them, so they sell to Suzie and Jonah Homebuyer and put an extra $3000 in their pockets.

Here are a few other problems with low earnest money amounts:

it makes your clients look like they can't afford the house
it makes your clients offer look weak when there are competing offers
it makes your clients appear wishy-washy or uncertain of their decision
it limits the commitment of the buyers (who wants to work with buyers who make offers on things they're not sure they want?

I'm not condoning the seller's actions, I'm just saying it really happens out there. So now I'm curious, how much earnest money is "customary" in YOUR neck of the woods? And if it's different, how much do YOU recommend your buyers put down?

By the way, this really happened to me!

Room with a view in Salt Lake City

Mon, 24 Mar 2008 22:26:18 -0500

High on the hill with the celebrity types in Arlington Hills

High above the University of Utah next to the Avenues and Upper Avenues lies Arlington Hills, a luxury neighborhood with a few celebrities. Arlington Hills offers a variety of home styles, while prices range from roughly $500,000 to $1.5M, with the occasional modern mansion or spanish villa selling for 2, 4, or even 6 million dollars.

Many homes in Arlington Hills have paroramic views of the valley from downtown Salt Lake City to the beautiful Wasatch Mountains. It is a stabil neighborhood of residents who usually settle there for many years.

Up here it's high enough to rise above the smog and get some clean air, some clean living, and some perfectly manicured yards. And yes, you might even see an old Mercedes or Volvo heading down the street, along with some new ones!

Being naughty in Salt Lake City

Fri, 21 Mar 2008 19:39:36 -0500

Pure as the driven snow? Hardly.

Salt Lake City gets a bad rap, and it makes me sad. Heck, I moved here with no intentions of staying (I only wanted to ski the Greatest Snow on Earth) and 17 years later here I am. Why, you ask? I thought you might.

Well, Salt Lake City is quite liberal and diverse. From domestic partnership benefits and gay representatives to just about any religious group you can imagine there truly is something here for everyone. We have a world class symphony. Our arts and law and medical programs are some of the best. Dining out has grown exponentially in the last two decades, and there's more nighttime theater/shows/dancing/singing/acting/drinking than you can shake a stick at.

Salt Lake is young. Utah has the youngest population of any state, with the highest family size per household. A city full of young professionals is a city poised for growth. The average home price is still below the national median, at least statewide.

Yeah, I thought it was just a church on the edge of a salty, brine shrimp-filled lake on the edge of a dusty desert. I thought I'd have to wear a shirt at the local swimming pool. I thought I'd have to drive to Wyoming or Nevada to get a beer. Boy was I wrong!

Here's a photo of a friend "baptizing" me near the fountains of the world headquarters LDS Temple. (Mormon Temple)

Welcome to Salt Lake City!