How Can We Continue to Support Our Local Economy? Today we’re going to talk about the back doorway we can help our housing market. That’s by helping our local economy which in turn keeps our housing market healthy. With the recent COVID-19 pandemic, Salt Lake County and our neighboring counties Health Departments are prohibiting restaurants, […]
Sequestered at home? Get moving! One of the ways I’m getting through this crazy time is first, keeping a schedule and second making sure that schedule includes an exercise routine. I’ve been working out with my trainer Steve Pizza the owner of SLC Strength and Conditioning for a number of years. I asked him what […]
How Will the Fed’s New Interest Rate Affect Home Mortgage Rates? What does the Federal Reserve cutting its target interest rate to near zero percent mean for mortgages? This is the second emergency rate cut in two weeks and brings the federal funds rate to between 0% and 0.25%. It’s designed to stimulate the economy […]
First and foremost we are taking the COVID-19 pandemic very seriously. We are seeing a lot of communities come together and help for those unable to do so for themselves. We love to thank each of you for pitching in. However, if you are one who is in the high risk category, you are in […]
Home Improvements You May Want to Avoid Are you thinking of putting your home on the market? Making some upgrades is a great way to boost its value and make it more sellable, but not all upgrades are created equal. In fact, some improvements won’t increase your home’s value, and today I have an article […]
An Important Message on Buying New Construction Have you thought about buying a new construction home? If so, there are five points you need to be aware of: New construction homes aren’t always listed on the MLS. Quite often, home builders have agents working as on-site salespeople in order to increase their control of the transaction […]
2019: A Market Year in Review Here are the numbers from the Wasatch Front in 2019: – Single-family home sales: 38,024 – Condo and townhome sales: 10,305 – Average home price: $376,000 (a 7% year-over-year increase) – Average days on market: 51 (a 16% year-over-year increase) – Absorption rate: 4 months (a 20% year-over-year increase) […]
6 Things Sellers Should Always Remember to Do Selling a home can be a complicated process. As such, there are a few things that many home sellers simply forget about as they prepare their home for sale. Here are six things to keep in mind when selling your home: Focus on staging. You may already like […]
3 Tips to Keep Your Home Decluttered Forever When it comes to decluttering, Marie Kondo is all the rage right now. She’s the Japanese lifestyle celebrity who has the miraculous ability to help people declutter their homes for good. What’s her trick? Only keep the things that spark joy or keep you happy. Here are […]
This Is How Long a Pre-Approval Usually Lasts If you’re hoping to buy a home, it’s smart to ponder the question, “How long does a pre-approval last?” Even after you’ve received a lender’s stamp of approval for your financing, weeks or even months could pass before you actually buy a house. Will that pre-approval you […]
What Sellers Must Disclose About Their Listing Whether you’ve lived in your home for a few years or a few decades, you know all about its quirks, its best features, and its flaws. When you decide to sell your home, some of this information might be necessary for you to share with buyers in the […]
Winter Is as Good a Time as Any to Buy or Sell For today’s topic, we’re going to discuss the benefits of buying or selling in the fall or winter. Contrary to what you might think, the passing of the summer season doesn’t necessarily equate to stagnation in the market now. There are great tax […]
Why List During the Holidays? Summer is now in the rear-view mirror but despite what some believe, the end of warmer weather does not mean our market has completely cooled off. Selling your home over the holiday season is often a smart move for sellers savvy enough to take advantage. Not only is there less […]
What All Homebuyers Must Know About New Construction Properties Have you thought about buying a new construction home? If so, there are five points you need to be aware of: 1. New construction homes aren’t always listed on the MLS. Quite often, home builders have agents working as on-site salespeople in order to increase their control […]
The Latest Real Estate Numbers Along the Wasatch Front We’re back with another update on the Wasatch Front real estate market. In the third quarter of 2019, we saw a significant jump in sales. Year to date, we’re up 2.1% with over 37,700 homes sold so far in 2019. The average price for all home types […]
5 Tips for Becoming More Financially Responsible Do you want to improve your finances? Many do, but maybe you don’t know where to start. Well, promoting your own financial health all starts with measuring some basic skills. First, learn how to budget. Budgets can be boring, but they are the cornerstone of financial responsibility. They can help […]
3 Things to Remember When Building a New Home Inventory has been shrinking recently, which has a large number of buyers building new homes, instead. When buyers do this, though, they need to ensure that they’re being well-represented. There are three reasons this is so important: 1. The on-site agent is working for the builder. The person […]
Should You Buy a New Home or Sell Your Old Home First? Most home sellers are also homebuyers. Because of this, the inevitable dilemma of which transaction to complete first comes up. Buying first is ideal because it allows you to take your time and there are much fewer hoops to jump through. Most people […]
Who’s Responsible for Keeping a Property Show-Ready? Home sellers and their agents want their properties to remain show-ready at all times while they’re on the market; but ensuring that this is the case can be a chore—especially if said sellers have already moved out. Whose job is it to pick up the newspaper, shovel the […]
The Latest Q2 Stats From the Wasatch Front What do 2019’s second-quarter statistics say about the Wasatch Front market? Home sales are up 4% compared to last year, with over 13,000 single-family homes, townhomes, and condos being sold. Year to date, sales are down 2.5% with nearly 24,000 total homes being sold. The good news […]
4 Key Trends Homebuyers & Sellers Should Monitor in 2019 The simple truth is that markets are like the weather—you can’t predict with absolute certainty how they will act, but you can get a sense of the direction that the winds of change are pushing things. The economic research team at Realtor.com pored over a […]
5 Different Ways Real Estate Deals Fall Apart Buying and selling real estate can be complicated and there are a lot of opportunities along the way for transactions to fall apart. Here are the primary reasons that real estate deals fall apart based on our experience: 1. Pre-contract deal-killers. The first stage of a transaction occurs before […]
What Can You Do to Prepare Your Home for Sale? Today we’re going to discuss six ways to get your home ready for sale this spring: 1. Let natural light in. Open up your blinds, windows, and let that natural sunlight in. 2. Renovate what’s outdated. If your kitchen or bathroom is stuck in the 1980s, it’s […]
The Latest Developments From Our Wasatch Front Market What do our first quarter statistics tell us about our Wasatch Front market? And how do these numbers stack up against last year’s Q1? We’ll answer both of those questions in today’s market update. Let’s jump right in: By the end of 2019’s first quarter, our market […]
Should I Buy a Starter Home in Today’s Market? A question about the viability of purchasing a starter home in today’s market was recently posed to us, and it boils down to this: Should you invest now in a starter home or would it be more prudent to wait and save for your forever home? Let’s […]
Lock In Your Interest Rate With This Great New Program Interest rates are on an upward trajectory, but not everyone can take advantage of the low rates we have now. I’m joined today by Mandi Henriod of Intercap Lending, who shared with us a great way buyers can lock in current interest rates. Let’s say rates […]
How to Buy Property Through a Partnership It’s always our goal to keep you educated about all things real estate so you can accomplish your buying, selling, and investment goals. Today we’ll be talking about how co-borrowers works in real estate. We’ve seen home values increase by over 30% in the last five years, and […]
A Wasatch Front Market Update What’s the latest news from our Wasatch Front market as we move further along into 2019? To answer that question, let’s first compare the statistics from the fourth quarter of 2018 with 2017’s fourth quarter. Home sales dropped 7% from just over 9,600 to 8,994. The average sale price, meanwhile, […]
A Guide to the Tax Benefits of Homeownership A quick note before we begin today’s topic: We’re not tax professionals here at the Stern Team, so please be sure to meet with a qualified CPA for more details. If you don’t know one, we’re happy to refer one whom we trust completely to you. Every four years, […]
Will I Pay Less Commission If I Find My Own Buyer? There’s a misconception among many sellers out there that any commission they pay to their Realtor will be reduced if they’re able to secure a buyer on their own. At the heart of the real estate transaction, the goal is to obviously find a […]
What Does Reduced Home Affordability Mean for You? Home affordability is shrinking rapidly, according to research by Arch Mortgage Insurance. In the first quarter, affordability (defined as the size of the monthly mortgage payment needed to buy a home) dropped by 5%. This was mainly due to the increase in mortgage rates. As a consequence, more people […]
The Benefits of Buying and Selling in Winter For today’s topic, we’re going to discuss the benefits of buying or selling in the winter. Contrary to what you might think, the passing of the summer season doesn’t necessarily equate to stagnation in the market now. There are great tax advantages to buying or selling […]
Why Do Deals Fall Apart? Unfortunately, real estate deals don’t always make it all the way through closing. There are a number of reasons they can fall apart, and today we’d like to share five such reasons: 1. The buyer and/or seller encountered pre-contract problems. This includes issues like a lowball offer, an extensive list of […]
Watch Out For These Real Estate Scams It can be a scary world out there—though a majority of people are good and honest, some like to try taking advantage of others. The real estate market is no exception, so today we’ll be looking at the scams we want to make sure you’re aware of: 1. […]
9 Reasons Our Real Estate Market Is Not Headed for Another Crash Despite some concern, a market crash isn’t imminent, and there are nine reasons why. 1. There are many differences between the market of 2005 and the market of today. In 2005, for example, subprime loans totaled more than $620 billion and comprised about 20% […]
How Does the Wasatch Front Market Look Right Now? Today we’re excited to share our third quarter market statistics for the Wasatch Front. These numbers are through October 4 of 2018 and we’ll be comparing them to the numbers that we saw through October 5 of 2017. As for home sales, they’re relatively stable and […]
