Thinking through the following recent chain of events kind of makes me feel like a Rock Star! I'm on the last stop (fingers crossed) of a 5 day tour with some out-of-state buyers. I've shown over 35 Condos or Town Homes, all over the valley, in 4 1/2 days. Scheduled appointments included Draper, Suncrest, Herriman, South Jordan, West Jordan, Taylorsville, Sandy Town Houses and Salt Lake City Condos.
I have worked with these clients for several months as they followed the Utah real estate market on our website www.lindasecrist.com. I knew they wanted at least 3 bed and 2 ba, 1200 sq ft and needed garage space. I had even previewed several units prior to meeting with them. My clients had me schedule the first day with their favorites from months of their online real estate searches. This was helpful as we eliminated many areas and certain floor plans, as there are limited floor plans among Salt Lake Valley condos. What sells the Condo is great condition and new paint/carpet go a long way. Maybe a little something special, such as a balcony, a finished basement, a patio or deck, a "Killer" view, and not many condos or townhomes have a private outdoor sanctuary. The few that did, made our final cut list. Gated condos and town homes can be attractive, if security is of concern. My clients also eliminated condos with "higher than average" HOA fees.
My favorite are the condos and town homes in Daybreak of South Jordan. The gated condos, near Jordan Landing in West Jordan have fantastic floor plans, but the lack of ample parking was a concern. We were looking for the whole package. We found several end row town houses in Draper that were priced well. The view from every floor was amazing, but being close to retirement age, my clients disliked the many stairs we climbed to gain access to bedrooms and the main floor living. I left my clients at the hotel after a long first day and headed home to answer feedback calls, search the Wasatch Front MLS for next day showings and schedule more appointments.
Day two began with much less anxiety, I had a better idea of what style and details my clients were looking for. I had a great day planned. I had begun to build rapport and a relationship with my clients. I seem to be a much better real estate agent once the ice has been broken...... I love this building stage of client relationships. I feel blessed to have a career which enables me to meet and get to know , on a personal level, so many unique and different views and customs. This particular couple had not grown up in America and they seemed to truly appreciate everything our country has to offer. Their company was truly enjoyed. The personal information they shared with me meant that they were gaining trust in me, as a Realtor and a friend. I believe this to be another relationship that will extend beyond the purchase of a Salt Lake City Condo.
I showed a great townhome in Bluffdale. The Units in "Vintage on the Bluff" are a favorite of mine because of the access to I15 and Bangerter Highway. I like the low HOA fees and the available amenities. The condos on the East side of the property have great views and a private patio. I also appreciated the townhomes in Herriman, if you have read any of my previous blogs you would know what a fan of Herriman Real Estate I have become. This area is really growing with new Condos and Townhomes. They enjoy the benefits of living in a well thought out and planned Herriman City. We ended day 2 with some very favorable Condos on our short list.
The third day of our Condo hunt began early. The friendship was growing and we shared many laughs and stories while driving to and from different areas of Salt Lake City. This was my favorite day, as my focus turned more from Condo Hunter to tour guide. I love Salt Lake City and cherish the opportunity to show it off to unfamilar clients. We met our Lender, Ryan Kay of Veritas Funding, for a quick lunch. I had planned the day around several Condos in areas we had not visited yet in Holladay and the Sugarhouse area of Salt Lake City. I also wanted to show a few fabulous listings in Suncrest and Sandy. The Holladay area went pretty much how I expected. My clients love the Holladay-Murray and Millcreek areas but, the available Real Estate in our price range for this location was older and needed too many updates for my clients. The short sale in Sandy was a great home that need just a few less expensive upgrades. I talked with my clients about updating countertops and how much a new coat of paint would change the appearance. The problem facing the sellers of older units along Salt Lakes East Bench is that for a few miles of travel West, a buyer has so many choices in brand new condos and townhomes. Upgrades are included and floor plans can be more appealing. We ended the day in Suncrest at the Condo that will eventually become our now "Under Contract" unit. The views from Suncrest are amazing. The drive up the hill is 5.7 miles from Bangerter Crossing in Draper. The winters are longer and colder but the summers are fabulous and for this particular client, a perfect match. They will be spending the majority of the winter months in Las Vegas and the Suncrest Condo will be a second home. The Suncrest developement has new ownership and the long awaited opening of the swimming pool and Rec center is scheduled for later this month. We left Suncrest and my clients were estatic. This was exactly what they were looking for. A condo close to Salt Lake City airport, yet located in a quiet, peaceful, serene mountain setting.
Day four began with return trips to our short list. Typical of Salt Lake Bank Owned or HUD property priced below current market value and not facing a short sale situation, 2 of the 5 on the list ended up being under contract by days end these were the lower priced units that were only open to owner occupant offer for first 15 days. We didn't feel too bad as our top 3 were still available. We returned to the unit at Legacy Ranch in Riverton. A condo in Daybreak of South Jordan, Vintage on the bluff (Bluffdale) and of course our Suncrest favorite in Draper. We ended up submitting an offer on the Suncrest property, they countered, we accepted and are now under contract. My clients have returned to Las Vegas to await their closing date. My summary of last weeks adventure... I absolutely love my job. I enjoy meeting new people. I love Salt Lake City and am very proud of our reputation of friendly and caring people. My clients commented daily on what a fabulous State we live in. The mountains are amazing and a source of inspiration. Growing up in Utah and seeing the mountains surrounding us my whole life, I sometimes forget how lucky and blessed we are to live in such a beautiful place. "This is the Place" for me. I also have decided that condo living has much to offer. No yard work is the clincher. I like the fact that home time can be enjoyed more often because of the lifted work load. I like that I can enjoy a dip in the pool or hot tub and not need to worry about calling the pool guy or the daily maintenance. The Salt Lake Condo and Townhome industry is alive and well. New developments and construction have begun in many locations with prices starting as low as $169,000. Existing unit's are very affordable, the Bank Owned Condos make great first time buyer and owner occupants options. If you're looking for a condo or townhome across the Salt Lake Valley, you won't find a more qualified or knowledgeable Realtor.
Success in Salt Lake City real estate investing endeavor depends on your street smart investment strategies and financial portfolios. Investing in Utah real estate properties remains one of the best opportunities to make a profit this year. Despite differing interest rates in the market and different banking sectors that use the lowest rate of interest and at the same time making a higher percentage down payment, you can be sure to get the lowest interest payable and more principal cleared every month.
Take note of cash rotation when investing in a Salt Lake City Home for sale. An investment is definitely not a sound investment without cash rotation. Rent can be used to pay off loan and other outstanding debts. Buying a property in a particular area where the real estate sector will have a great demand in the future, such as Sugarhouse, the Avenues, Holladay, Millcreek or the Cottonwoods, and then selling the property at a higher rate is also another way to invest in properties.
Converting a Salt Lake City residential property into a Salt Lake City commercial property is another way to get higher returns of investment. These homes can be converted into apartments, individual dwelling units or multi-family kind of apartments to fetch higher rents. However, these conversions also depend on the locality, re-zoning capabilities (if necessary) and the area of the property.
Capital, location and duration of the property are just three of the important criteria that you have to consider when you are asking about a property’s profitability of the property investment. Location is crucial in Salt Lake City real estate investing. You can start renting out a property, but be sure that the rental fee received is more than enough to cover the mortgage payment of the property.
You just have to come up with strategies in buying or selling Homes for Sale in SALT LAKE CITY to increase the market value of your home, to get the highest returns, and to increase your profits.
Although Utah continued to have the fourth highest foreclosure rate in the nation in April (according to the latest RealtyTrac report), the number of foreclosures actually went down from April 2010... significantly. Dave Anderton with the Salt Lake Board of Realtors believes the report shows Utah’s economy is on the upswing.
It shows me that foreclosures have crested and we’re finally coming off that peak from 2010 when they were at all time highs in Utah and the nation,” he says. “The economy is getting better and I think people are starting to buy homes again as we see jobs increase in Utah especially.”
The number of foreclosures in Utah fell nearly 14 percent since March of this year, and nearly a 31 percent drop since April of 2010, the report says. And nationwide, foreclosure activity was at a 40-month low.
RealtyTrac says one out of every 322 homes in Utah received a foreclosure filing in April. In Nevada, which tops the list, it’s one out of 97. Let's hope this decline continues!
For your Utah real estate, Salt Lake City real estate, Draper real estate, Sandy real estate, Holladay real estate, Murray real estate, Cottonwoods real estate, Herriman real estate, Riverton real estate, South Jordan real estate, West Jordan real estate, Bountiful real estate, Park City real estate, Avenues homes for sale or Sugarhouse homes for sale needs, please call the #1 Real Estate Team in Utah!