January 31, 2011

Finding a Diamond in the rough-- Lease to own

Posted to Buyers, Colin Blackner



As you conduct your search on the Internet for lease to own opportunities, you’ll come across hundreds of Real Estate bargains speckled throughout each neighborhood.

READY, SET, GO, you’ve just left your 1st House; what a disappointment, you discover the home had been rented out 7 times in the last 3 years.  

2nd House; you just barely get out of your car to walk up the driveway when out of nowhere a policeman drives up in his car and sympathetically delivers the bad news that he had just busted the former residents and it’s a Meth house, what are the odds? 

3rd House; you just found the perfect home, finally a place to hang your hat. Terms and conditions are revealed. $50,000 down $600 Pet deposit, credit and background checks, minimum of 12 References and no mercy in this life or the life to come if PAYMENTS ARE LATE.

Too many prospective buyers feel this kind of frustration while trying to find a home for their family, especially for a family that has experienced financial hardships from the loss of employment or have been victims of circumstances beyond their control. Most need 12 to 24 months to repair credit and put their affairs in order. 

The Beauty of Lease to own is that there really is a perfect situation or home out there that will fit any family’s budget, or circumstances. It all starts with a fired up Realtor that’s willing to demonstrate his expertise and creativity. You never want to concede to just a few selections from your internet search. You’ll find that a vigilant Realtor will be excited to help you find a “diamond in the rough home,” which simply means a home that’s only had one or two owners. With this brings the peace of mind that this house will be kind of special and deserving of your family and that you have taken the necessary steps towards preparing the way for a better tomorrow for you and your family.

Time to Put your Realtor to Work

1. Ask your Realtor to start sending out emails to all agents who have listings that are 5 months old or older. There’s a good chance the selling terms of that home will be changing in a few weeks. You want to be 1st in line for a lease to own option to become available.

2. Ask your Realtor to research all the sales that have fallen through due to financing. The owners may have an offer pending on the sale of their home. A lease to own deal may save the deal and the day.

3. Have your Realtor screen 100% of those internet leads you have saved. Maybe there will be one that’s worth taking a 2nd look at. The MLS will provide us with up to date information and powerful reports to assist us.

4. If you see a home you like that’s for sale by owner, allow your Realtor to approach the seller on your behalf to negotiate a lease to own contract. Perhaps a fair offer may be the only activity this owner will need to entertain it.

Always just a phone call away,
Colin Blackner
Cell (801) 725-5463

Posted by:  Colin Blackner





January 27, 2011

Want to Live Near Snow Basin Ski Resort?

Posted to Buyers, Owners, Sellers, Steve Randall

Snow Basin was the host of the 2002 Winter Olympic downhill race course. I have traveled down its steep slopes many times but never at the speeds of the great skiers. A bedroom community near Snow Basin is Eden, Utah. We have several listings in the area as well as several lots to build a summer and winter retreat. It is a great summer and winter recreation area and priced much lower than Park City.

An offer came in on one of our lots yesterday. The current list price was about $70,000 down from $110,000 just a year ago. The reason for the reduction in price has to do with supply and demand. There are currently 38 competing lots for sale about the same size as our listing. There is one listing that is priced about $20,000 less but it has a slope which increases excavation costs and makes the lot less usable. With so many lots available, why did our lot get the offer?

Pricing! The seller priced the lot to attract any buyer who is ready to buy now!

Should sellers wait to put the Eden lots on the market until spring? It is predicted that more lots will sell this year. However, there are many sellers who are waiting to put their homes on the market in the spring hoping the lots will sell for more. Those who want to sell a home but have not actively listed their home at this time, contribute to what we call the “Shadow Market” inventory. When Shadow Market homes get added to the active market, supply will increase over demand keeping prices the same in Eden…or maybe even dropping a little more in 2011.

Point to Ponder:

If you are buying in Eden, buy now before interest rates eat up the savings you have with heavily discounted lots.

If your are thinking of selling, you will get more for your property in the first half of the year than selling in the second half of the year. For more details, never hesitate to .

Posted by:  Steven Randall





January 25, 2011

Is Fruit Heights a Buyer's Market?

Posted to Buyers, Sellers, Steve Randall

Yesterday I attended a closing with a client who had just purchased a bank foreclosure property in Fruit Heights. The house was a tri-multi level home with four bedrooms and in very good condition, surprisingly so for a bank owned property. The price for this 2,900 square-foot home was $246,000 with the seller paying closing costs. The backyard abuts to the golf course and the home has a beautiful view of the mountains and has close freeway access to Salt Lake.

The buyer was excited to have this home and felt good about the price per square foot he had paid. As we looked at the market conditions in Fruit Heights the absorption rate, which measures the rate of homes sold in a given period, ranged from 9.33 months to 11.20 month of inventory in the past twelve months. For sellers in Fruit Heights that is not good news because inventory over 7 shows that the market is still a buyer’s market and means downward pressure for home values in the area. The good news is that we seem to be making a turn and there is more good news that we are seeing now than we have in the past.

There remains some great inventory in Fruit Heights for buyers with values ranging from the low $100,000s to values that exceed a million dollars. For information on buying a home in Fruit Heights and negotiating the best value, please at anytime. If you are a seller, then we can help you price your home so that it will sell based on current market conditions. We are happy to share the latest market data for Fruit Heights.

Posted by:  Steven Randall





January 21, 2011

The Privilege of being a Realtor

Posted to Buyers, Colin Blackner, Owners, Sellers

It’s always a bonus to get a complementary email back from a client. A few weeks ago one of mine read “Thanks again for everything Colin! We’re so grateful & glad that you knew about this house.” Well let me just say that you are very welcome, and thank you for allowing me to come to know your family.

Just think back, it wasn’t that long ago that you could list your home with a Realtor on a Monday afternoon and like magic it would be sold by Saturday morning with 2 more offers sitting on the back burner. The Market was so hot that Realtors were collecting salesman of the week awards (because in just 3 days someone would take you out). Hummers and BMWs were flying off car lots as successful agents bought them up, as self evidence of all their hard work and hustle. Then the housing market changed on us overnight. Are you kidding me? Who was ready for this? Not Me!

Fast forward to today. It’s January of 2011; everyone is a little smarter now. Buyers and sellers have learned to be patient. Realtors have gone back to what matters most and that’s managing their clients’ Real Estate needs and making sure that the very best service we can give brings home the desired results.

This is where I want to impress upon everyone’s mind that I fully appreciate the opportunity to be a Real Estate agent. Please allow me to share with you 3 simply reasons why I love this profession.

1. My number one is the opportunity I have to work with so many good people. The Real Estate Industry is loaded with trained professionals. I would say that it’s the most diverse profession in the world. You will find little league coaches, scout masters, doctors, attorneys, aerobics instructors, accountants, and even an elected Governor. I’m keeping good company.

2. Number two is the opportunity I have to assist my friends, family, neighbors, clients, or anyone who needs special help with their Real Estate questions. You can’t beat the amazing feeling one has when you’ve helped a family find their future dream home. Remember picking out your 1st bedroom?

3. This reason may seem a little selfish, but as a businessman and life-long sales professional, I can’t tell you how much we enjoy as Realtors to experience success at all levels in this industry.

  • We love to earn your business and confidence.
  • We thrive on selling your home FAST and want to exceed all your expectations of us and the Broker we represent. 
  • We’ve received special training on how to help our customers get through this market.
  • We won’t make promises we can’t keep.
  • But we’ll strap on our helmets and go to battle for you.

Thanks for reading.

 | 801-725-5463 | Layton, Utah

Posted by:  Colin Blackner





January 20, 2011

Dream Home For Sale in Tremonton, UT

Posted to Buyers, Justin Stevenson

All the real estate agents are saying it, all the financial experts are saying it, I bet all your relatives are saying it, and I am saying it………“NOW IS THE TIME TO BUY!” With prices down and interest rates still low, now would be a great time to purchase the home of your dreams.

Your dream home can be in Tremonton, Utah. The city of Tremonton is a wonderful place to live and raise a family. The official website of Tremonton states the follow about their city:

“Tremonton City has all the advantages of a rural life style and yet its residents can take advantage of all the amenities of the surrounding metropolitan areas. Tremonton has a Mayor/City Council Government with an appointed Manager. There are five elected members and a Mayor on the Council who are setting the pace for Tremonton’s future.

The City is a full-service city that takes pride in keeping taxes low while striving to keep city services at the highest standard possible. The city has its own services, including police, fire, ambulance, public works, cemetery, water/wastewater facilities, library, senior citizen/community center program, and are all committed to providing the city’s residents with the best care possible.“

625 N 2450 W, Tremonton, UT. It is a 3 bedroom, 2.5 bath single family home that has a total of 1857 sq. ft. The owners of this property are motivated and ready to sell. The currently listing price for this home is $159,000.

This great home was built at the end of 2009 and has a great cul-de-sac location. It has two tone paint, upgraded carpet, neutral colors, and a 300+ sq ft finished bonus room. It’s a clean home with all 3 bedrooms and laundry located upstairs. The master bedroom includes a walk in closet and its own bath. Also included are large closets with organizers in all bedrooms. It has a great amount of storage space including built in shelving in the garage. It also features knotty alder cabinets plus a large corner pantry in a beautiful kitchen. The yard is fully landscaped including auto sprinklers and a vegetable garden. It’s a must see! Click here to see the virtual tour on this property.

To set up a time to see this home or any other home in the area, please contact me at 801-710-8081 or contact me by email at

Posted by:  Justin Stevenson





January 18, 2011

How To Predict the Next Real Estate Bubble!

Posted to Buyers, Owners, Sellers, Steve Randall

An experienced real estate investor knows from following appreciation values in the past that real estate normally increases in value about 25% to 29% every five years. The normal appreciation since 1980 has been about 5% to 6% each year. However, from 2000 to 2006, real estate values increased a whopping 89% during those years. This was due to low interest rates, lenders willing to lend, and a desire by government to make sure everyone had a home… and nobody seemed to care if the buyer was qualified or not!

From history, we can predict future bubbles by watching past appreciation rates. There are times where real estate values will accelerate more than 6% per year but be wary of buying when values are increasing 14% - 15% each year because it will not be sustainable over the long run. If you roll the dice and hope to get in at the right time there is greater risk you assume… as so many buyers can now verify. It is hard to time the market and that is why so many are underwater at this time.

POINT TO PONDER:

There is an old saying that “pigs get eaten.” Meaning that when you try to capitalize on appreciation rates way above the norm there is a good chance it will come back to haunt you. Real estate is a great investment if bought responsibly. Now is a great time to buy real estate even though prices may drop another 2% to 6% in 2011. It is hard to time the market perfectly, but with prices down, inventories high, and interest rates low… the stars are now aligned. If you try to save a few thousand dollars more by waiting for a lower purchase price you will likely be caught on the other side of the equation with higher interest rates. Rates are now on the move up from their lows of several months ago. Overall cost would show now is the time to buy rather than waiting for a lower home price. Thanks to Steve Harney at Keeping Current Matters for pointing out that monthly costs now will be lower than if interest rates rise in the future.

Posted by:  Steven Randall





January 18, 2011

Is Real Estate Still A Good Investment?

Posted to Buyers, Owners, Sellers, Steve Randall

Last week I was driving to a HOA meeting in Salt Lake and listening to a popular talk show host on Fox News, Sean Hannity. The topic of discussion dealt with the economy, jobs, and the current confusion of where people should put their investment money. Sean mentioned that he had money to invest but did not trust the stock market even though it was doing much better now. He didn’t know much about commodity investing… he knew gold was doing well but wasn’t sure about how much longer that would last. He mentioned real estate but with the recent downturn of home values, foreclosures, and short sales he wasn’t sure about that either.

If you return to the year 2000 and had $100,000 to invest in the Dow, S&P, NASDAC, or real estate… what would have happened to that investment in the year 2011? With Dow Jones you would have gained 5.8% and your investment would now be worth $105,800. With the S&P and NASDAC you would have lost money and the value of your investment would now be $82,000 and $66,000 respectively. Had you invested in real estate, your $100,000 would now be worth $145,300. At the top of the bubble you could have earned 89% on your money. However, if you bought at the top of the bubble you are now likely underwater. The great thing about real estate is that if you hold on long enough, it will come back and if you rented your property you would have had income even though values might have declined.

POINT TO PONDER:

Despite real estate’s current dilemmas, for the long term it has returned the highest ROI in the last 10 years. With all the talk about changing social security, now would be a great time to start buying real estate to insure that the golden years of retirement remain golden. While property values have fluctuated in recent years, rental values have remained stable and in some areas are on the increase. Now is a great time to buy real estate.

Posted by:  Steven Randall