Thursday, June 29, 2017

10 Reasons Not To Sell Your Home Without The Higman Team

So you’re thinking of selling your home without a listing agent and saving 1.5-3% in potential commissions. It doesn’t seem that hard, right? Take some pictures, get it on the MLS or online, and buyers will come running with offers.

While some people have the time and experience to effectively sell without an agent, most FSBO home sales fail. It’s no surprise that the percentage of US homes sold by owner has seen a steady decline.

Here are 10 top reasons not to sell your home by owner.

1.   When you decide to FSBO (For Sale By Owner) be prepared to sacrifice a lot of time. From staging the property and taking perfect pictures to getting the description and marketing right. You’ll also spend time showing the property, entertaining lookie-loo’s and door-kickers, and talking with agents who won’t take you seriously.

2.   When you sell by owner you may think you’re saving money but in reality you’re often spending a lot of money up front with no guarantee of any return. Listing agents spend a calculated amount of money up front to make sure a listing sells and ultimately pays both you and them both fairly.


3.   Choosing to FSBO doesn’t really save you money. On average, homes sold by agents get $230k compared to $180k for FSBO. When you find the right agent they will price your property to get the most money in the shortest time, a combination that can mean 10-30% more net profit. When you are considering saving 1.5-3% on a listing commission you should take that into consideration.

4.    Listing agents do not charge anything upfront to sell your home. If they spend thousands and can’t sell it for the price you want, they are out those thousands, not you! This is perhaps one of the greatest things about using an agent. There is an extremely low risk and cost to doing so!

5.    The perception of FSBO sellers is that they are not serious about selling their properties and are often just testing the market or seeing if they can get some far fetched price or perfect buyer that isn’t realistic. They are often not taken seriously in the real estate community because they don’t see the value in representation by an agent or broker.

6.   You might be ready to post your home on Facebook and Craigslist a few times, but you don’t have the ultimate home selling tool – the MLS. The multiple listing service can be accessed by licensed real estate agents, and is the way to get your home listed on sites like Realtor.com, Zillow, and Trulia. A large majority of home buyers begin their search on sites like these, and you want your home to be seen by as many buyers as possible to get the best price. It’s no surprise that homes sold via FSBO have seen a steady decline as online real estate has become the norm.

7.     When you sell your home without an agent, any mistakes you make can cost you greatly. Agents have something called E&O (Errors & Omissions) Insurance. This protects them when mistakes are made in contracts. When you sell on your own, others can make sure to exploit every little mistake you make.

8.     When you decide to sell your home yourself you are telling other agents that you don’t understand their value in a multi-billion dollar industry. Agents often see FSBO sellers as easy marks to negotiate against because they have the upper hand. They control the buyer/offer and can negotiate their own commission. They can also pick your property and price apart because they have the expertise to do so. They don’t need to worry about treating you unfairly because the chance of them dealing with you again is slim to none. More often than not they will simply ignore your listing altogether to avoid the hassle.

9.      Pricing your home incorrectly when you list it can be the worst mistake, and can greatly affect days on market and final sales price. Pricing too high will mean fewer people see it, resulting in fewer offers. Price it too low and you’re conveying that something is wrong with the property or that you are desperate to sell. More days on market will also signal to buyers that something is wrong and can ultimately mean less money upon final sale.

10.   When you FSBO you attract investors and low-ballers who see your inexperience and ignorance as a prime opportunity. What may seem like a lot to you may be a steal to them. An experienced agent will understand this and negotiate the most money possible for you.




Higman Real Estate Team

Paula Higman 
Director of Luxury Sales
Engel & Völkers U.S. Holding, Inc.
Mobile: 1-435-602-8228
FAX: 1-435-214-7091
Member of the Park City Board of REALTOR®
Member of the National Board of REALTOR®
ENGEL VÖLKERS 
PARK CITY - 
890 Main Street  Suite 5-101
Park City, UT 84098   USA




4 Urgent Reasons You Should Sell Your Home in 2017

If you’ve been sitting on the fence about selling your home, it might just be time to hop off. Now. To put it in other terms: 2017 is poised to be the year of the home seller, real estate experts say. So what are you waiting for?
“Sellers have been in the driver’s seat for the last two years, but this year is shaping up to be even better for several reasons,” says Jonathan Smoke, chief economist of realtor.com®. “Nothing is bad for sellers today.”
A combination of factors is coming together to make 2017 a prime seller’s market for most of the nation. Here’s what’s driving it:
Reason No. 1: Mortgage rates are still low
It’s all about rates, baby. Low mortgage rates translate to lower monthly costs. Lower costs entice buyers, which is good for sellers.
Although mortgage rates have been ticking up since mid-October to slightly over 4%, the rates for a 30-year fixed mortgage—the most popular home loan—are still hovering near 30-year lows. For now.
“We expect them to hold at this (4%) level for a while and continue to adjust up,” says Danielle Hale, managing director of housing research for the National Association of Realtors®. “Mortgage rates rarely move in a straight line. They could be in the 4.6% to 4.8% range by the end of the year.”
What does that have to do with home sellers? Well, potential buyers who are armed with that knowledge might hustle to close on a home before a rate hike.
What if you’re nowhere near ready to put your house on the market? That’s OK. Even if rates nudge up by the end of 2017, they’re still expected to be low enough to seduce buyers. The tipping point is when rates reach 5%, experts say. That’s when they could put the brakes on the robust real estate market.
Reason No. 2: Inventory is shrinking
Remember in Econ 101, when you learned that low supply and high demand lead to rising prices? The same is true—in spades—for residential real estate. When inventory shrinks, available homes become more valuable. As Martha Stewart would say, that’s a good thing for sellers.
Let’s put it in perspective: In 2007, just before the housing crash, existing home inventory peaked at 4.04 million homes for sale, according to NAR data. Fast-forward to November 2016: There were only 1.85 million homes for sale, 9.3% lower than the year before—and a whopping 54% lower than the 2007 peak.
“Quite simply, sellers this year have the least competition,” Smoke says.
And get this: Not only are there fewer homes for sale, but the time those homes have spent on the market has decreased year over year as well. If priced correctly, the typical home should move quickly, Smoke says. And that’s another boon for sellers.
“Many potential sellers don’t want to think about having to prep a home for showings and deal with an indefinite period of having to keep things in perfect shape,” he says. “Fast-moving inventory limits that pain.”
Reason No. 3: Home prices are rising
Lower inventory and greater demand have pushed up home prices. The median existing-home price in November 2016 was $234,900, up 6.8% from November 2015, when it was $220,000, according to the NAR. And that’s no fluke. That was the 57th consecutive month of year-over-year gains.
Higher prices particularly benefit the seller whose property value plunged during the recession, sometimes to less than he owed. Thanks to rising prices, many homeowners whose property was underwater can now sell without suffering a big loss.
“2017 will be a rare ‘balanced market’ for buyers, because even though mortgage rates are edging up, many sellers have recovered enough equity to be able to afford to sell,” says Colby Sambrotto, president and CEO of US Realty.com.
Reason No. 4: Job markets are strengthening
As unemployment decreases and wages (finally) increase, consumer confidence will climb. Increased confidence will spur buyers to jump into the market—which is, you guessed it—more good news for sellers.
These pieces of the puzzle create a “virtuous cycle,” Smoke says. It’s not a term he coined, but it’s one he hasn’t had a chance to use in many years.
“These things are all connected,” Smoke says. “If people are confident, they’re more likely to buy big-ticket items like houses and cars. And then they spend more money on other things. It reinforces the economy, creating a virtuous cycle.”
The only ‘bad’ news for sellers
If you sell your home today, you mostly likely will buy another. Then, all the economic factors that worked in your favor as a seller will work against you as a buyer.
Sellers have a few options. You can rent for a while, and hope that prices come down in the future. But whatever you save on the price of a house you could surrender when mortgage rates climb to 6%—as predicted for 2019 and 2020, Smoke says.
The take-home lesson: Don’t wait, because mortgage rates won’t.

“There are opportunities for a seller-turned-buyer who wants to downsize in this market,” Smoke says. “You can lock in financing rates that you’ll never see again, and very likely make the trade-off work.”

Monday, June 26, 2017

Essential Money Tips for the Beginning Life Planner

Essential Money Tips for the Beginning Life Planner

The best way to begin any life plan is to take stock of your current finances, how you want to spend them now, and how you want to spend them in the future. Of course, to figure out where you’re going in life you might have to do some soul searching. But once you’ve decided the general framework for the rest of your life, it’s time to start saving, investing, and planning for life’s many contingencies.
First, save for the unexpected
No matter what your current income level or age, the first step to any solid financial life plan is to set aside money for life’s unexpected curveballs. Those in the industry call this an emergency fund, and you can create a dedicated savings account just for things like job loss, car repairs, medical expenses, home repairs, and more. For example, you may want to think about where you live now and plan for where you want to live in the future such as moving to a safer neighborhood or purchasing a larger or smaller home.
Some suggest having up to eight months or even a year’s worth of living expenses in your emergency fund, but that’s simply not reasonable for most young people. Shoot low first – maybe $1000. That’s enough to cover some basic troubles, if not a catastrophic event. A good, attainable goal is to eventually build up six months of living expenses. Set up the savings account to auto-deduct $50 or so from each paycheck. This way, you’ll eventually get used to living day-to-day on a little less, and that emergency fund will increase without you even having to pay it any attention.
Next, think about investment
Investing is scary, but it’s vital to building money for long-term goals.
“True investing doesn’t happen without some action on your part. A ‘real’ investor does not simply throw his or her money at any random investment; he or she performs thorough analysis and commits capital only when there is a reasonable expectation of profit. Yes, there still is risk, and there are no guarantees, but investing is more than simply hoping Lady Luck is on your side,” notes Investopedia.
It’s important to do your research and figure out what type of investments – from stock and bonds to real estate and mutual funds – are right for you. Check out this great primer on how to get started.
Start putting money into your 401K as soon as possible as employee-match programs are pretty much like getting free money,
“If your employer offers to match a percentage of your 401K contribution – and most do – maximize that benefit by contributing to the match limit.​ Employers who offer to match your contribution will typically do so up to 3-6 percent of your annual salary. So, if you make $50,000 and your boss matches your 401k up to 5 percent, be sure to contribute $2,500 over the course of the year,” says The Balance.
Of course buying a home is a critical investment as well, so explore your financial options in that area too. See if there are any grants or other home-buying assistance you qualify for such as special loan programs or incentives offered by the government.
Prepare for your children’s expenses
For most people, having children is an inevitability. While investing for your own future is important, you must realize that your future children’s future IS your future, and you can start preparing for that even before they are born.
“Unlike retirement, which you conceivably have four decades to save for, if you wait until your kids are born to start saving for college, you’ll have a shorter window of time to build up a sizable education fund. And while you can start out with more aggressive investments in your college fund, like stocks, as you get closer to your children’s 18th birthdays, you’ll need to shift your investments into more conservative options, which typically mean lower returns,” says the Motley Fool.
All of this points to starting to save for your kids’ college as early as possible.
Article Source | Jackie Waters
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Sunday, June 25, 2017

Spirit Animal








The butterfly is one of the most emblematic totem animals symbolizing personal transformation. If you see the butterfly as your totem or spirit animal, pay attention to the areas in your life or personality that are in need of profound change or transformation. Perhaps, this animal totem guides you to be sensitive to your personal cycles of expansion and growth, as well as the beauty of life’s continuous unfolding. An important message carried by the spirit of the butterfly is about the ability to go through important changes with grace and lightness.

Outdoor Concert Series

Well it's outdoor concert season in Park City :-) headed over to Billy Blanco's tonight hit me up almost every night of the week and I'll see you at any of the concerts around town! Cheers!

Saturday, June 24, 2017

Cobblestone Community

Gorgeous home for sale in Heber City, Utah

Virtual Reality Tour: 

http://www.tourbuzz.net/806702

Adjacent Land:
 https://app.immoviewer.com/portal/tour/1125256

Beautiful Cabin in Sundance Utah

Beautiful Cabin in Sundance Utah



Virtual Tour: 

https://360-grad-immobilien.com/tour/1110961?accessKey=5848

 http://www.tourbuzz.net/700358


Higman Real Estate Team

Paula Higman 
Director of Luxury Sales
Engel & Völkers U.S. Holding, Inc.
Mobile: 1-435-602-8228
FAX: 1-435-214-7091
Mail to: paula@higmanluxuryrealestate.com
Member of the Park City Board of REALTOR®
Member of the National Board of REALTOR®
ENGEL &VÖLKERS 
PARK CITY - 

890 Main Street  Suite 5-101
Park City, UT 84098   USA

Freeloader Friday

Freeloader Friday:  free things to do this weekend


Hiking and Biking

With over 150 miles of public trails surrounding Park City, there is no excuse to not take advantage of them and experience Park City like never before. Also, many popular resorts such as Deer Valley, Canyons, and Park City Mountain Resort run their ski lifts so guests can bike down the runs.

Water Activities

Water sports and fishing are popular activities to partake in when in Park City. The Jordanelle and Rockport Reservoirs offer boat rentals and the Echo Reservoir offers whitewater rafting on the Weber River. These reservoirs are popular for water skiing, wakeboarding and tubing. However, if you want to take it easy on the water, fishing is also a very popular activity at these reservoirs, and the waters are usually open during some of the colder months as well. Don’t forget about kayaking, canoeing and wave runners while you’re out on the water.

Golfing in Park City

Ready to take it easy in Park City? Start the day off with a round of golf on any of the great Park City golf courses. Soak in the great views of the mountains and the blue skies while you enjoy a round of 18 on one of the premier golf courses in the intermountain region. The Park City Golf Club is in a prime location that offers temperatures about 15 degrees cooler than the surrounding areas. Park City has a plethora of great golf courses all able to offer a great start to your day. For a complete list of courses visit our golf page.

Outdoor Activities

There are many outdoor activities that the whole family can enjoy. Enjoy a hayride or a horseback ride through Park City taking in the sites and scenes of this beautiful state. Don’t miss the opportunity to enjoy the sites and scenes from thousands of feet in the air by taking a hot air balloon ride over Park City. If staying on the ground is right for you, there are many state parks throughout the area to experience the scenery and breathtaking views. Also, don’t forget about the five national parks that Utah is home to. Any activity you choose, you will be surrounded by a great view and will be creating memories that last a lifetime.

Resorts

Many resorts offer activities right on their property to entertain guests, and during the summer it is no different. From rollercoasters to ziplines, guests will have many options to choose from. Take a Gondola ride, 8,000 feet above the ground to see Park City like never before or enjoy a night under the stars at an outdoor concert at an amphitheater. After a long day in the sun, relax at the spa while reminiscing about your great day.


Monday, June 19, 2017

Monday's in Park City Utah

Every Monday evening from Memorial Day through Labor Day, the Jans fly fishing experts in Park City, Utah offer free fly casting lessons and equipment tips starting at 5:00 p.m. at the ponds in lower Deer Valley, next to the gazebo.

Join in on the for a FREE women's only road ride every Monday night at JANS Park Ave. 

This "no drop" ride is all about fun. Beginners are encouraged to join these 

instructional rides. Come learn new skills and techniques, meet new friends and enjoy an 

evening on the road! Ask about bike rental discounts for ride participants.



Higman Real Estate Team

Paula Higman 
Director of Luxury Sales
Engel & Völkers U.S. Holding, Inc.
Mobile: 1-435-602-8228
FAX: 1-435-214-7091
Mail to: paula@higmanluxuryrealestate.com
Member of the Park City Board of REALTOR®
Member of the National Board of REALTOR®
ENGEL & VÖLKERS 
PARK CITY - 
890 Main Street  Suite 5-101
Park City, UT 84098   USA

Saturday, June 17, 2017

Savor the Summit - Park City Utah

Not to be missed.....


Savor the Summit 2016


Claimed to be the Largest outdoor dinner party in the state of Utah.

This is not your average dinner party!  Park City Utah's Savor the Summit returns every year to the Historic Main Street Park City for the largest dinner party in the state of Utah.  Always held on a Saturday, this year this event will take place on June 17th, 2017 at 6 p.m., over 25 restaurants will be serving their specialities to over 2,000 participants, Al Fresco, as the sun sets behind Main Street.  Park City's biggest outdoor dinner party will be offering dinners as a unique celebration of fabulous food, drink and live music while seated in the middle of Main Street. Park City's best restaurants will showcase their culinary talents in an open air community celebration.  It is a summer solstice party of wine, dining and music set in a unique mountain setting.   Make your reservations early with your favorite restaurant. This event seems to sell out fairly quickly.



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