Tips For Choosing A Reliable Home Inspector

1. Get a reference from your real estate agent.

One of the best resources for picking a home inspector should be your Realtor. D

If your agent has been in business for any length of time, they have probably encountered quite a few home inspectors. By observation, your agent can see who does a thorough job and who does not.

An exceptional buyers agent, one who wants the best for their client, will have a couple of home inspectors they know to go through a home with a fine tooth comb. A trustworthy agent will not be worrying about whether 

On the other hand, some excellent home inspectors do not have great delivery when it comes to pointing out issues. I have found that the way problems are communicated can have a dramatic effect on a buyer.

Some of the worst home inspectors while thorough, use scare tactics to make problems sound way worse than they are! Why do they do this? If you don’t buy the home, you’re more than likely going to call them on the next house. Real Estate agents like to call this a two for one. This is the mark of an unprofessional inspector. Yes, there are bad home inspectors just like there are bad real estate agents!

An excellent home inspector will not only be thorough but will take the time to explain the severity of an issue. If the problem they have found is a common one and not something to be genuinely concerned, they should explain this to you. Some of the most common home inspection problems can usually be corrected fairly quickly.

2. Look for a company that is bonded and insured.

Whether you go with a big company or a single inspector working on his or her own, you want to make sure that whoever examines the home is bonded and insured. Finding out about insurance is one of the most important questions to ask when interviewing a home inspection.

Depending on your area, a home inspector may be able to conduct business without insurance. The problem with uninsured home inspectors is that they may try to hold you or the homeowner liable if they are injured during the inspection. 

Climbing in attics and wandering through basements and crawl spaces does carry a certain amount of risk, which is why reputable home inspectors carry insurance. If the basement steps are rotten and the inspector falls and breaks a leg, you don’t want to have to worry about being sued. If the inspector is not bonded or insured, I would cross them off your list immediately.

3. Verify that the inspection company only does inspections – not home repairs and renovations

Hiring someone that just does inspections is an important tip for finding the right home inspector! Home inspection companies that sell other services – such as roofing, plumbing, kitchen and bathroom renovations, etc. – have a conflict of interest. The fact that they sell repair and renovation services means they are more likely to see problems where there aren’t any.

You want an objective opinion on the state of the house, not a soft sell on renovation or repair services. Of course, the company may do an excellent job of separating its inspection and repair services. Unfortunately, there is no way for you to know if you will be encouraged to make unnecessary repairs until you hire and pay for the inspection.

Choose a home inspection company that’s focused solely on inspections. If you are interested in the cost of repairs or renovations, bring in a contractor after the inspection is over.

4. Find out what the inspection includes and how long it takes.

The best home inspection will be a thorough one, where the inspector goes over every little detail of the home. You want an inspection that looks at every component of the home, including:

• The plumbing system.
• The electrical system.
• The structural condition.
• The heating and air conditioning systems.
• The basement and foundation.
• The roof and attic.
• Evidence of water penetration or grading issues.
• Pests such as bugs and wildlife.
• Environmental issues such as mold, radon, asbestos and lead paint.
• Appliances and other general components of the home.

Knowing what an inspector will look at also allows you to shop around and compare services. Some inspectors may only focus on the structure itself and nothing more. Just know going in exactly what you are getting.

Most home inspections should take two to three hours to complete. If you are purchasing a larger home, a fixer-upper or an older home, the inspection will more than likely take even longer. Don’t hire someone who tells you they will complete the inspection within an hour or two. It is unlikely the inspector will be able to do a thorough job in that limited time span.

5. Get references.

It is always worthwhile to ask for references when you are hiring a service, and home inspectors are no exception. Ideally, you want to get new references from at least a few different clients. You can ask each customer about his or her experience with the inspection company. Did the inspector seem knowledgeable? Did he or she turn up on time? Was the report comprehensive and relatively easy to understand?

While references are excellent, keep in mind that the inspection company probably gave you contact information for the most satisfied customers. That is why it’s helpful to get multiple references. The more people you talk to, the clearer a picture you will have about the company’s work. Just like picking a real estate agent is important, so is your inspector.

6. Verify that you can accompany the inspector while he or she goes through the home.

While you are not required to go along for the inspection, it is in your interest to do so. The home inspector can explain all the different things he or she is looking for, and give you valuable insight into the state of the home. If you do choose to purchase the home, your trip with the home inspector will give you a chance to see where everything is in your new home and will allow you to take note of any areas that may give you trouble in the future – even if they are not major issues right now.

Also, a great home inspector will also go over general maintenance of the major components in the home. While their primary function is discovering significant structural and mechanical defects, a home inspector can be a fantastic resource for educating you on how a home should work properly.

Hopefully, your real estate agent can go along with you on the inspection as well. Having your agent there ensures that you get all the information you need about the state of the home. The best real estate agents attend home inspections for their client’s benefit. When it comes time to negotiate any issues the home inspector discovers, it is awfully difficult to do well if the agent was not there to see them. Lots of agents make excuses on why they don’t attend inspections. Don’t fall for one of their lame reasons.

Part of your Realtors job is to be a consultant. When it comes time for negotiating with the seller you will need to know what are reasonable home inspection repair requests and what are not. Real Estate agents who do their job well are there for you every step of the way!

7. Request a sample inspection report.

Home inspection reports can come in a lot of different formats, from walls of text to colorful reports with photographs. You will have an easier time reading the report if it is designed to be accessible. Any inspection company you are considering should be able to send you a sample report so you can see if the format works for you.

I would highly recommend selecting a home inspector who provides color photography of the issues they find. When it comes to home inspections, a picture is worth having. The link above shows the type of inspection report you should be looking for. Notice the vivid photos showing the issues accompanied by a description of the problem. Please note – I do not know Home Gauge as they are not in my market. This type of report, however, is what you should be looking for.

When communicating issues to the seller having pictures makes things so much easier. Sometimes it is tough for laymen to discern problems without being able to see exactly what the inspector is referencing.

8. Compare the cost of hiring different companies.

No one wants to pay more than they have to for a home inspection, so it makes sense to shop around. However, you need to make sure you are making an apples to apples comparison. When you are looking at different companies, get a relatively detailed description of what each company does during an inspection.

A more thorough inspection is worth paying more for. So is a company with better references, or one with experience in a specialized area you need. There is nothing wrong with trying to save money, but make certain you are hiring someone you can rely on to do a good job.

On average you can expect a general home inspection to cost anywhere from $400 to $800 dollars depending on the area in which you live. Expect to add more to the cost for testing of things such as radon, mold, lead and water. In the Park City & Heber City area where I am located, you can expect to pay between $500-$600 for a home inspection.

9. See if you can find an inspector with experience in the type of home you are looking at.

If you are looking at historic homes or any type of specialty home, try to find an inspector with some experience in the type of home you are buying. The construction of older homes can vary by region and by style, so there may be some common issues that the average inspector may miss. Newly constructed homes may also be built using materials and techniques new to the market, so it can be helpful having an inspector familiar with new construction for such homes.

10. Choose an ASHI certified or InterNACHI inspector.

ASHI stands for American Society of Home inspectors. An ASHI certified inspector is required to follow a strict code of ethics. When you choose ASHI inspector, you’ll be working with someone who has passed rigorous technical examinations. In order for an inspector to get ASHI certified they must perform more than 250 professional inspections. It is essentially just another level of qualifications. This is not to say there are not some fantastic home inspectors who are not ASHI certified. It is just another level of confidence when one has this designation.

The International Association of Certified Home Inspectors or InterNACHI for short, is another exceptional organization. An InterNACHI certified inspector is required to follow a strict code of ethics. When you choose an InterNACHI inspector, you will be working with someone who has completed numerous inspection courses and technical examinations. These inspectors are also required to complete 24 hours of continuing education per year. InterNACHI is the largest inspection trade association in North America. You can learn more by visiting their website at InterNACHI. Read about what makes InterNACHI so special! Many states also have statewide associations, which can be acceptable alternatives. Reputable home inspectors are typically members of one of these organizations:

Make Your Bedroom Look Expensive

1. Remove things instead of adding them

You don’t have to fill your bedroom with things to make it look luxurious. Incorporate a mix of textures and finishes. Contrast is always good.

Decluttering is tough,  we're probably not the only ones who hide all our junk in the bedroom, where only we have to see it. But one way you can keep clutter from cheapening your space is to choose storage pieces that pull double duty.

2. Use mirrors

An oversized mirror is a splurge that can visually anchor as well as expand a space, Especially if your bedroom has 8-foot ceilings, leaning a 5-foot or taller floor mirror in a corner will add a strong vertical line as well, which is always helpful in a lower-ceilinged space.

If you're crafty,  Buy a mirror cut to your specifications at a glass shop, and then purchase lengths of molding from a lumber or specialty store.

Simple mitering with a handsaw, glue, and frame fasteners are all that's needed. Then finish in a rich stain, metallic, or embellish with some luxurious vintage lace.

3. Layer your lighting

For a pulled-together, anchored space, choose a variety of lighting sources. Start with a large, attention-grabbing overhead fixture, which will "instantly make a bedroom or bathroom feel more expensive," But don't stop there: Add sconces, task or table lighting, and floor lamps throughout the room to create a soft, layered look.

4. Add brass accents

Brass, that decor staple from the 1970s and '80s, is back in a big way, instant pizzazz to a space.

Adding a few touches will give warmth, sparkle, and elegance to the room.

5. Layer your bedding

Resist the urge to buy the "bed-in-a-box" matched set, and select your linens carefully, Bogdan says. Choose a mix of quality sheets, duvets, and quilts to make your bed look (and feel) plush, inviting, and opulent."A space that looks high-end has beloved things that have been acquired over time," she says. "Invest in really good linens, like French linen sheets, with their casual elegance, or Egyptian cotton with a simple finish."Ramin recommends adding faux fur, silk pillows, or an embroidered coverlet for more texture. To complete the layered look, consider folding a fluffy comforter at the foot of the bed (laid over your regular duvet cover), says Lowengart.And above all, don't forget about the pillows—cheap, flat ones look, well, cheap and flat."Good pillows hold their loft," Bogdan says. "They don’t just look better, they feel better when you sleep on them."

6. Upgrade your headboard

If a new bed frame isn't in your budget, consider springing for a new headboard instead. It's one of those small things that will make a huge difference in the look and feel of your space.

For most people, the bed is the focal point. 

And you don’t have to have a huge sleigh bed or elaborate poster bed for the 'wow' factor. You can get an upholstered headboard for $300 that will transform a plain-Jane metal bed frame into a gorgeous, modern bed.

7. Paint your ceiling

Love a pop of color but afraid to fully commit? "This will add depth to your room without overwhelming it," she says.

Pros recommend painting the ceiling in a color at least one shade lighter than the walls and using high-gloss paint to reflect light.

Purchasing your new home!

 Infinitely more money, thought, and prep work go into acquiring real estate—and given that it's not a purchase you make often, it's understandable if you might not be adept at wheeling and dealing.

But guess what? There is someone who can show you the ropes well within reach: your real estate agent! Odds are, you've hired an agent to help guide you through the home-buying process. But even then, there might be things you end up doing that make your agent sigh deeply—and get a strong urge to sit you down and say, "Listen, here's the deal!"

Curious about what those things are? 

1. Know what you can afford before you start looking

Finding the perfect home would be a snap if money weren't an issue, but let's get real. For most people, money doesn't grow on azaleas, which means their finances must be taken into account. So don’t waste your time shopping for real estate before you know what price range you can afford; that's like shopping on Rodeo Drive on minimum wage.

One easy way to get your bearings is to type your income, savings, and other details into a home affordability calculator. Better yet, get a mortgage pre-approval letter; the process involves a lender checking out your finances and determining how much it's willing to loan you for a home.

2. Don’t call the listing agent

In case you didn't know, buyers generally have their own agent, and sellers have theirs. And ideally, it's the buyer's agent and listing agent who interact with each other, conveying their clients' questions and concerns to see if a deal can be done.

As such, when you do an end run and contact a listing agent directly, this seemingly innocent move can cause a whole ton of trouble.

“When you call the listing agent directly, you basically imply that you don’t trust your agent and that you and your agent don't have a strong working relationship," says Shane Lee, statistical data analyst at RealtyHop. "These two things will impede the negotiation. You basically give your power away to the seller’s agent.”

3. Please stop talking around other agents

Another time buyers often put their foot in their mouth is during showings and open houses. Since the listing agent may be present, this is a time when loose lips can sink real estate deals.

You might say things you are not supposed to say, such as how many houses you’ve checked out, how much you like or dislike the house, and, worst of all, how much you can afford or are willing to spend on it.

Sharing such info is akin to tipping your cards while playing poker: It gives the home sellers a whole lot of info they can use as leverage during negotiations.

4. You don't have to see every house in a 100-mile radius

If you have an agent truly working for you, you won't be looking at tons of places.Your agent will screen properties for you and make sure you're only looking at the ones that fit your needs. So if the first home you see is the one, that's OK, your agent did her job.

5. Don't let the commitment give you cold feet

Sure, buying a house is a big commitment. Yes, it's scary, and your mind might race with all sorts of worse-case scenarios. What if you make an offer on a house, and that very day another house—even more perfect for you—crosses your path? Or, what if you move into a house you're happy with, then a layoff leaves you unable to pay your mortgage? Sure, these are all possibilities, albeit slim. But don't let them get in the way of making this important move. Remember, you can always sell a house later on; this need not be a death-do-you-part endeavor.

Higman Real Estate Team

U.S. Dollar Strengthened

As the U.S. dollar has strengthened over the past few years, foreign buyers of U.S. homes have responded to the squeeze in different ways. Buyers from some countries have adjusted their sights lower and responded by shopping for less expensive homes, while others have likely dropped out of the market altogether allowing their better-heeled countrymen to seek more expensive places.

And still others seemingly haven’t adjusted their behavior at all.

Compared to the start of 2015, the U.S. dollar now buys about 30 percent more Mexican pesos, about 25 percent more British pounds, about 15 percent more Brazilian reals, about 10 percent more Chinese yuan, and about 7 percent more Euros or Canadian dollars. These movements mean that homes have become more expensive for international shoppers, above and beyond the added expenses that all buyers – foreign and domestic – have had to cope with as home prices themselves rose.

As the US dollar strengthens relative to these currencies, it’s reasonable to expect two things to happen. First, foreign shoppers could begin to shop for less-expensive U.S. homes. And second, more budget-conscious buyers seeking more modest homes to begin with might drop out of the market entirely. Our research indicates that while both of those are happening to some degree among some buyers, not all international home shoppers have responded in the same way to changing exchange rates, and that some groups tend to be more price-sensitive than others.

Fluctuations in exchange rates don’t appear to matter much to buyers from Europe and the United Kingdom. Regardless of the relative strength or weakness of the euro or British pound, these buyers generally shopped for the same kind of homes they always had, targeting a price percentile roughly 15 to 20 percentage points above the typical U.S. buyer.

Our northern and southern neighbors from Canada and Mexico responded similarly to one another to a strong U.S. dollar, and home shoppers from both nations appear to be particularly sensitive to currency exchange rates. As the loony and peso weakened, the cost of homes considered actually rose, suggesting shift among shoppers toward fewer but more affluent Canadian and Mexican home shoppers in the United States.

Chinese shoppers also appear to be sensitive to currency exchange rates, but in a different way: As the yuan weakened relative to the dollar, Chinese home shoppers began to shop for somewhat less expensive homes. Between early 2015 and early 2017, the yuan moved from around 6.2 yuan per dollar to about 6.9 yuan per dollar, which is associated with about a budget tightening of about $22,000 by the median Chinese home shopper in the United States. The Chinese government also recently started outright prohibiting certain international home purchases.

The case of Brazilian shoppers is less conclusive: There is no statistically significant relationship between the real/dollar exchange rate and the target price of Brazilian home shoppers over the period we studied. Unlike the other currencies we examined, which generally weakened over the past two plus years, the real first weakened and then strengthened. In both mid-2015 and early 2017, the real/dollar exchange rate was at similar levels. But in 2015, Brazilian home shoppers targeted a much lower price point than during the more recent period.

Higman Real Estate Team

Qualifying for a Mortgage Just Got Easier

Fannie Mae recently made an industry-shaking announcement: the company is increasing the allowable debt-to-income ratio to 50%, up from 45%, on July 29th. That means that in just a few weeks more buyers who were previously on the edge of securing a loan, including first-time, millennial, and lower to moderate income households, could now qualify for a mortgage insured by Fannie Mae.

Fannie Mae is hoping this change will help people with student loans, car payments, and credit card debt. The debt-to-income ratio takes a person’s monthly gross income and then divides it by monthly debt payments. This ratio is then used by lenders to determine if a potential borrower can afford monthly mortgage payments. Other factors also play a role in approving a potential borrower’s application, including their credit score, cash reserves, down payment amount, and household income.

While this is exciting news for potential buyers, it is important to remember that Fannie Mae insures mortgages and does not make the loans. Individual lenders have their own criteria when approving mortgage applications. However, it is possible that Fannie Mae’s announcement could influence lenders to follow suit and raise the allowable debt-to-income ratio.

With nationwide real estate inventory at historic lows, this new announcement has the potential to make our highly competitive market even more spirited.

Higman Real Estate Team

Homeownership Outpacing Rental Market

At 63.7 percent, the homeownership rate is almost a full percentage point up from last year at this time, according to the U.S. Census Bureau’s Quarterly Housing Vacancies and Homeownership report. With homeownership ahead of renter households for the first two quarters, it is clear that the trend toward owning a home is not a passing phase.

Ralph McLaughlin, chief economist at Trulia explains, “For only the second time in 11 years, and for the second consecutive quarter, the number of owner-occupied households grew faster than renter households over the year. The fact that we now have two consecutive quarters where owner households outpaced renters is a strong sign this trend is reversing.”

The biggest share of homeowners comes from those aged 65 or older with 78.2 percent of owned homes. Those aged 34 and younger have the smallest share of owned homes with 35.3 percent. The rental vacancy rate was also higher than the homeowner vacancy rate, with rental properties at 7.3 percent vacant and homeowner properties at 1.5 percent. The median asking price for housing for sale in the second quarter was $177,200, while the median asking rent for rental properties was $910.

Paula Higman
paula@higmanluxuryrealestate.com
1-435-602-8228

High Asking Prices Aren’t Scaring Buyers Away

Even with record breaking asking prices nationwide, home sales are still on fire this summer. Listings are moving 6 percent faster than they did in July of last year. In July, princes were 10 percent higher than one year ago, with the national median sale price at $275,000 and the national median days on market at 64 days. Creating an even more competitive market, there are 11 percent less homes on the market than this time last year.

Normally there is a nationwide slow down by the middle of summer, with prices dropping, but 2017 is proving to be an exceptional year. Javier Vivas, manager of Economic Research at realtor.com further explains, “After a strong start to the buying seasons, homes are not only selling faster than last July, but faster than last year’s peak months. However, quick sales don’t necessarily mean more sales, particularly when there isn’t enough inventory as is currently the case. Home prices also remain stubbornly high, failing to show hints of the usual seasonal cooldown. Low- and moderately- priced homes are being snatched up especially quickly, keeping many would-be buyers from being able to get into the market.”

With the market not showing any sign of slowing down, buyers should be ready to jump when they come across a great deal.

Higman Real Estate Team

No Park Silly Market 8.13.17

Trademarking your business name

1. Trademarks are an effective communication tool. In a single brand or logo, trademarks can convey intellectual and emotional attributes and messages about you, your company, and your company’s reputation, products and services.  Your trademark doesn’t need to be a word. Designs can be recognized regardless of language or alphabet. The Nike “Swoosh” design is recognized globally, regardless of whether the native language is Swahili, Chinese, Spanish, Russian, Arabic or English.

2. Trademarks make it easy for customers to find you. The marketplace is crowded and it’s hard to distinguish your business from your competitors. Trademarks/brands are an efficient commercial communication tool to capture customer attention and make your business, products and services stand out.

Customers viewing a trademark immediately know who they are dealing with, the reputation of your business and are less likely to look for alternatives. Your brand could be the critical factor in driving a customer’s purchase decision.

3. Trademarks allow businesses to effectively utilize the Internet and social media. Your brand is the first thing customers enter into a search engine or social media platform (Facebook, Twitter, Pinterest) when looking for your products and services.

Higher traffic on a website or social media platform translates into higher rankings, bringing even more traffic, more customers and more brand recognition.

4. Trademarks are a valuable asset. Trademarks can appreciate in value over time. The more your business reputation grows, the more valuable your brand will be.

Trademarks provide value beyond your core business. Trademarks  can lead the way for expansion from one industry to another, such as from personal care to clothing or eye ware. If you desire it, your trademark can lead to the acquisition of your business by a larger corporation.

Trademarks are a property asset, similar to real estate, that can be bought, sold, licensed (like renting or leasing) or used as a security interest to secure a loan to grow your business.  

5. Trademarks can make hiring easier. Brands can inspire positive feelings in people’s minds. As a result, employment opportunities are more attractive to candidates. Employee retention can be higher if employees have positive feelings for the brand and the products and services offered.

6. Trademarks are a bargain to obtain. The United States Patent and Trademark Office charges as little as $275 to obtain trademark registration, only a few hundred dollars after five years and another few hundred dollars every ten years.

7. Trademarks never expire. Your trademark will not expire as long as you are using it in United States commerce. Some of the most recognized brands in the United States today have been around for over a hundred years. Mercedes was first registered in 1900. Pepsi-Cola was registered in 1896.

Brands are a critical asset. Do your due diligence before investing a lot of time and money in launching a new brand. Be sure the brand fits your company. Obtain a clearance search to make sure your new brand is available and doesn't infringe on anyone’s prior rights.

Failing to research a brand before adopting can lead to denial of registration by the USPTO or, worse, a cease and desist letter from another brand owner. Spending the time and money up front to determine whether a brand is available will help avoid the very high costs of a dispute or litigation.

Keep in mind that the more you differentiate your brand from others in your industry, the easier it'll be to protect. Choose a name and logo that distinctly identify your business and will protect it from competitors.

Higman Real Estate Team

Second Most Important home buying Decision You'll Make: is finding the right Agent for you

You’ve come upon that time in your life when you need, or want, to make a move. Whether you’re buying your first home, upgrading from your starter home, or downsizing now that all the kids are out of the house, working with a real estate agent is likely the best move you can make.

There are two sides to any real estate transaction: the buyer and the seller. Your relationship with your agent is going to differ slightly depending on which side you’re on. Further complicating matters is the likely scenario in which you are both selling and buying a home, usually represented in both transactions by the same agent.

Understand home financing better. One of the most valuable benefits of working with an agent is their help with understanding how much you can afford for a new home. Aside from recommending trusted lenders, real estate agents are spectacular resources for insights into neighborhood specific information and trends.

Your real estate agent might have great information on HOA obligations for a specific building or development, and could save you huge headaches from upcoming fees or special assessments. For first-time homebuyers, agents can be invaluable in helping you understand all of the added costs of owning a home, such as: taxes, insurance, maintenance, and the like.

Get the most up-to-date property listings, comparisons, and benchmarks. There are dozens of resources to search for homes, but the most up-to-date and reliable data is always going to come from the MLS or directly from the broker. While you, and millions of others, can lean on all of the resources available publicly online to get an idea of the market, your real estate agent is going to be able to keep you updated to-the-minute on the status of properties.

They will be your best resource for information on how long a home has been on the market, if it’s been listed more than once, how it compares to neighboring properties, and any insights from previous inspections.

Get marketing & guidance from a seller’s perspective. Your agent will provide comparative market analysis that will be a strong estimate of the home’s value for pricing based on comparable sales in the area, condition of the property, and state of the market.

Skilled agents will also provide valuable exposure to court prospective buyers. Only licensed agents and brokers can add your listing to the local Multiple Listing Service (MLS) for syndication to other agents and even web portals.

Ultimately, your representative will help guide you through the complex selling process. They will verify that any buyers you are working with are pre-screened, pre-qualified, and generally capable of completing the transaction. The agent will work with the buyer to negotiate the final price, as well as any adjustments that are requested based on inspection results (with your direction being the final say). They will also handle any earnest money deposits from buyers and prepare certain documentation within their domain such as purchase contracts.

Higman Real Estate Team

Heber City, UT

Heber City, Utah's real estate  is extremely hot right now.  We could put a listing on the market right now and we could easily receive 10 offers. I wouldn't recommend taking the highest bid, to my clients

Instead, we as Professionals working for our clients would take the cash offer because wee want to ensure that there were no hang-ups along the way toward closing, 

Appraisals, are not keeping up with the sales prices. If the appraisal doesn’t match the contracted price, buyers usually can’t get the mortgage and then never make it to settlement.

They’re kind of putting a glass ceiling where we can’t raise our prices any higher than we have comps to support it, so we REALTORS are definitely going with more cash offers than we used to,

First-time buyers are feeling the brunt of the competition. They tend to be more mortgage-dependent and many also using low down-payment loans, which tend to have stricter underwriting standards. When appraisals come in even the slightest bit under the contract price, the mortgage financing can fall through.

Anytime prices move up fast, the actual appraisal process, because they’re looking back in history, not forward into the future, they are lagging behind, 

From the buyer’s perspective, it’s a tough situation where they want to rely on the value of the home, on the appraisal, yet they know that if they decide to back away there are other buyers waiting to pounce.

        

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

Ensure that you have the best representation when buying and/or selling. Contact Paula Higman Real Estate Park City at 435-602-8228 For a property tour and more information about Heber City and the surrounding areas.

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Discover Park City

Park City, Utah has been ranked the #1 city in the United States for "the best general health" and the
#1 city for highest percentage of exercise among residents.


















Citydata.com, 2013 consensus research

Park City, Utah - Bus system goes electric

Park City, Summit County launch fleet of electric buses

SUMMIT COUNTY, Utah -- Park City and Summit County have launched their new electric bus fleet called the Electric Xpress.

The fleet includes six buses that run only on electricity.

They received a federal grant of $3.9 million for transit last August, and in 11 months’ time they have the E-buses on the ground and working as of Friday.

“There are very few cities that have been bold enough to take on a new technology and embrace it the way Park City does,” said Proterra CEO Ryan Popple.

Proterra is the electric bus company.

“These vehicles are powered by a very powerful, energy-dense electric motor that is capable of climbing the hills in Park City and driving in the snow,” Popple said.

Darren Davis, Park City Transit Manager, said the buses will help them achieve goals.

“We are trying to do something that really supports our sustainability goals,” Davis said.

Davis said Park City is on track to meet its zero-carbon footprint by 2022. Summit County plans to cut its carbon emission by 50 percent by 2032.

“It kind of sets the stage for the nation,” Davis said. “Hope they follow our lead.”

A regular diesel bus only gets about four miles to the gallon, while the Proterra electric buses are six times more efficient, according to Proterra.

The E-bus route is from Kimball Junction to the Old Town Transit Center. It will run seven days a week from 7 a.m. to midnight, and it is a fare-free ride.

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

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.

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.