2021 Market Forecast

Admin — Mon, 11 Jan 2021 16:58:25 +0000

The 2021 Market Forecast Breakfast did not disappoint again this year. We are still trending to a favorable sellers market with low inventory and a focus on affordable housing. With low interest rates at play, buyers have greater purchasing power and are ready to move. One thing to consider, however, is that with interest rates reducing, taxes and insurance costs are rising with the cost of housing and that comes into play when talking about your monthly payment potential.

Ultimately, Utah is a great place to live and work and we found ourselves in the top spot for job growth. We also found a large 5-8% increase in home costs which we expect to repeat in 2021 as well as a 10% increase in the costs of townhomes and condos. 2021 Should make for a great year. As a seller your home should sell quickly and for top dollar. As a buyer, we need some strategies in place and ready to go so we can make sure you can buy that home in 2021!

Check out my recap over on youtube!

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Seller Disclosure Forms… A Thing of the Past

Admin — Thu, 17 Dec 2020 05:43:30 +0000

At Innovative Real Estate we are very “innovative” and bold, but most importantly we are very smart and are here to protect our clients in their real estate transaction. After years of research and representation our legal counsel and broker have made the decision that we will no longer be using the Seller Disclosure Form. If you have bought or sold real estate this is most likely a form that you have seen. There are a lot of concerns we have found with this form and although the obligation still exists. Per this form below it states that “the seller is obligated to disclose to the buyers an defects that they know may materially affect the property that can’t be discovered by an ordinary prudent buyer” see below that is close (Utah Real Estate Seller’s Property Condition Disclosure Form)

That is still an obligation of all sellers we are not removing that, we are, instead, opening the doors of communication between buyer and seller and allowing the sellers to not be focused on only the information in the form, but instead, allowing them, as is contractually required, to disclose the information that they, as the seller, would like to disclose.

This protects both buyers and sellers and here is why….

Sellers are protected

Total autonomy to report what they think is material
Protection about misrepresentation of information (for example, if they mark no because they didn’t remember or didn’t feel it important and later are sued for fraud…we don’t want that)
Protection from historical documents (some documents are still available from past home sales and if it is documented somewhere it should be shared even if the current seller was not the owner at the time of the issue, should they have know? Is it fraud if they don’t?)
Sellers are not focused on only the questions asked, but instead given an open ended focus for what their home is all about.
It reduces the risk of ending up in a lawsuit because the sellers is not checking a box without knowing the whole story (how many investors have flipped homes without all the information…that is so scary to check those boxes)
It puts the responsibility back into the buyers hands to complete their due diligence and ask questions that actual impact the transaction materially.

Buyers are protected

Buyers don’t rely on what the sellers have disclosed and instead they exercise their due diligence to get all the information about their major purchase….THEIR NEW HOME
Buyers ask the questions they really want to know and what materially could affect their purchase of the home
It ensures that the buyers truly know the home, they have an inspection, they have all the tests they want completed and they too learn more about the house in general.
Buyers need to consider how much information actually passes through owners particularly if there has ever been an investor owner, they need to know for themselves and not rely on a checkbox form.

We expect pushback. We expect some buyer representatives to be cautious and nervous. We also know that if we move forward as a brokerage that we can better protect our sellers and our buyers. We expect buyers to ask, does that mean they are hiding something? No! The obligation for them to share material defects is still there, they just don’t have to do it in a checkbox. The form is too general in some areas, too specific in others and ultimately it doesn’t open the door for the sellers to truly share what they are committing to share in the real estate purchase contract and we know we can do better!

I’m excited. I am excited to have this one more tool to be able to better protect my sellers (and buyers). I would love to discuss it with you more. Let me know if you have questions!

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Merry Christmas

Admin — Wed, 16 Dec 2020 23:56:23 +0000

Wishing you a very Merry Christmas and sending great wishes for a wonderful 2021!

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1025 N Valley Hills Blvd

Admin — Fri, 16 Oct 2020 20:19:28 +0000

Secluded backyard with Views! You don’t want to miss out on this home in Valley Hills. Multi Level home is perfect for entertaining or spending time with your family. The large deck with mature trees provides for a secluded back yard with just enough of an opening for a view of Timpanogos. Square footage figures are provided as a courtesy estimate only and were obtained from County Records. Buyer is advised to obtain an independent measurement.

Call me today for more information!

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2070 S 400 E Heber City UT 84032

Admin — Sun, 11 Oct 2020 22:38:58 +0000

Wheeler Park Home with a separate entrance Mother-In-Law Apartment. Beautiful finishes throughout with 5 bedrooms and a fully finished basement. 2 car garage on a corner lot with great views in a wonderful neighborhood. Fenced in backyard and a neighborhood park nearby. Square footage figures are provided as a courtesy estimate only and were obtained from County Records . Buyer is advised to obtain an independent measurement.

Listed with Innovative Real Estate
Find more information at: https://www.utahrealestate.com/1705703

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Transaction Fees…What are they?

Admin — Thu, 25 Jun 2020 22:03:19 +0000

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268 W Lady Bank Lane

Admin — Tue, 16 Jun 2020 18:27:00 +0000

Beautiful Home in Midway! Warm and welcoming! This home has 3 master suites! 4th bedroom would be a perfect work-from-home office and guest bedroom. It has open concept living with large windows and natural lighting throughout. Plenty of storage throughout the house with high end finishes. The back yard views are exquisite when enjoyed from the upstairs balcony or deck and hot tub below. 3 car garage where one has been converted to extra usable space or storage. Curb appeal in a cul-de-sac. 2 furnaces keep the house comfortable on both levels. Also includes a water filtration system. Make this your dream home today! Square footage figures are provided as a courtesy estimate only and were obtained from county records. Buyer is advised to obtain an independent measurement.

Listed with Innovative Real Estate

See More at: www.utahrealestate.com/1677594

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Beautiful Property In Timberlakes

Admin — Fri, 15 May 2020 01:29:09 +0000

SOLD

Invest in your Recreational Future! Beautiful lot with mature trees in a private mountain community. Build your dream family cabin or your full time year round accessible home! Perfect location within easy access to mountain recreation and Heber City. You can have the best of both worlds in Timberlakes. This lot has a great location, perc test complete for septic, water is connected and it is the perfect canvas to make your dreams come true!

https://www.utahrealestate.com/1674275

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