BEST REMODELING REMEDIES...

Utah Realtor Paula Higman Reviews Best Remodeling Remedies for Return on Investment

Park City, UT (March 2019) -- Park City Realtor Paula Higman, of the Higman Real Estate Team,

lists the top four tips regarding remodeling before selling a home.

“Remodeling projects are known to create the most return on investment,” said Higman. “Certain projects, however, are always more fun and yield the greatest cost recovery,

including the following four.”

No. 1: Replace the roof. The best remodeling project that will increase a home’s value and has the greatest cost

recovery is putting on a new roof. In fact, the National Association of REALTORS® (NAR) estimates the median cost of new roofing at $7,600, but has the percentage

recovered at resale at 105 percent.

“When selling a home, first impressions are crucial, and enhancing curb appeal with a new roof

can entice potential buyers, particularly with an eye-catching color that complements your home,”

noted Higman, who offers free home evaluations.  

No. 2: Install wood floors. The NAR further estimates that the median cost to complete a new wood

floor is $5,500, and the percentage recovered at resale is an impressive 91 percent. The trend of late

in wood flooring is light colors, such as gray and blonde woods. “However, dark-stained wood floors are

still in high demand, especially when coupled with light furniture and white cabinets,” added Higman.

No. 3: New garage door. New and stylish garage doors can also amplify curb appeal and impress prospective buyers, as it’s one of the first things they notice when looking

at a home. The NAR calculates the median new garage door cost at $2,300, and the percentage recovered

at resale at 87 percent. Homeowners today are largely choosing garage doors that are energy efficient.

“They are also opting for contemporary or decorative garage doors,” stated Higman.

No. 4: Make minor kitchen improvements. This can help the homeowner recoup more than 83 percent of

the total cost of a minor kitchen remodel. “I recommend swapping out any outdated hardware and faucets,

re-staining the hardwood floor and/or refacing cabinets and drawers,” concluded Higman.

        

 

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.

 

Insure that you have the best representation when buying and/or selling in The Colony. 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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How I Best Represent My Home Sellers

As a real estate agent, I have an obligation to you my client to do everything I can to smooth the process of selling their home. I am your advocate, the professional you are turning to for help. I want to be the agent you can not only trust, but will do all I can to get the most money for your home in the least amount of time with the fewest headaches along the way.

Because some home sellers know so little about the sales process, it is easy enough to do the bare minimum and get by as an agent, but I will never build my business by doing the least possible. I will do my best – cover all the bases of a smart sales process – I will gain a reputation for great work, and enjoy the referrals that come along with that reputation.

Smart home sellers understand there is a big difference from so many of the “post and pray” real estate agents that do not much more than put a sign in the yard, place it in the MLS and pray. You deserve a lot more than this.

My job as a Realtor:

1. Price The Home Correctly.

Pricing a home properly is bar none the most important thing you can do as a Realtor. Exceptional Real Estate agents avoid giving in to the desire to say what will make sellers happy just to attract business. Top-notch Real Estate agents will price each home using their training, understanding of the market, and comparable sales.

Understanding how to price a home is one of my most valuable skills. I sell homes close to the original listing price. I have a reputation for pricing homes accurately and not telling you what you want to hear to get a listing. This is one of the lowest things anyone in my profession can do and violates the code of ethics we are supposed to follow.

As a seller, you should be aware that pricing a home too high can cause major issues in the sale. Buyers may avoid it, and if they avoid the home/lot long enough, it will develop a bad reputation. 

Even with a competitive price, buyers will be likely to low-ball you after a period of time. Ultimately you may sell the house for less than what you would have if you had priced it correctly, to begin with. The seller loses out, and the agent’s reputation suffers.

2. Market The Heck Out of The Property.

Marketing is one area where your Real Estate agent should shine. Your agent should be taking great pictures of the property – hiring a professional photographer if necessary. Photography on your home is absolutely one of the essential elements in selling homes today. I can tell you firsthand how appalling it can be seeing some of the photos real estate agents post of their client’s homes. What is probably even worse is the sellers who never bother to look!

The internet will be where home buyers discover your home. If the pictures of your home are lousy, you will lose out on a significant amount of traffic.

Your Real Estate agent should be well versed on how to get the word out using all available marketing channels, not just the Multiple Listing Service (MLS). Ideally, your Realtor should have a website that draws traffic and showcases all their properties for sale. They should also be using social media, like Facebook, Google+, Pinterest, and other platforms, to spread the word. All of these online options take some time for an agent to develop, but will ultimately strengthen their business and help their client’s homes get sold.

The Real Estate agents marketing material should be top-notch, from photographs to videos to the brochures used to market the home. Investing in a quality Real Estate agent who understands how crucial the marketing is will reap substantial benefits.

3. Communicate Properly.

A seller needs to know what is going on with the sale of their home/land. I will regularly update my customers on the feedback from showings and about anything else that may concern them. Even if there are no offers, keeping in touch lets a seller know that you are doing something – and worth paying for.

I will return your calls or emails promptly.  In my mind, all phone calls or emails should be returned within an hour unless you are already with another client. There is no excuse for poor communication. Staying in touch is something all sellers have a right to expect from me.

4. Make Sure The Buyer is Qualified.

Anybody can say they are interested in buying a house. Not everyone can get pre-approval for a home loan, though. I will make sure that buyers are pre-approved – not just pre-qualified. There is a big difference between mortgage pre-qualification and pre-approval. Pre-qualification does not include an analysis of the buyer’s credit report, verified income, or employment, which will be key factors in whether they can get a mortgage.

A pre-qualification in most instances is not worth the paper it is written on. You want buyers who have already submitted all information, including a credit report and been given the go-ahead for a loan. As long as nothing changes with their financial situation or their credit, they should be able to get approval and buy your client’s home.

5. Negotiate The Best Terms.

I will go out of my way to fight hard for the best terms and conditions for you my client. This, after all, is what I get paid to do. I will never think about their pocketbook but what makes the most sense for you my client. 

I will advocate for my client, I will always strive for the best possible terms for the transaction. Everything in Real Estate contracts is negotiable, when warranted I don’t hesitate to counteroffer with a price that is more favorable to my client. I have the negotiation skills necessary to get the job done right.

If a client wants adjustments to contingency dates or closing times, these should be negotiated appropriately. A good agent will understand the real value of each element to the customer. Pushing to get clients everything they possibly can is what the best of the best do on a regular basis.

6. Attend The Home Inspection to Represent The Seller.

I will attend the home inspection. By being there for the inspection, I get to hear all the feedback from the inspector first-hand. 

I will keep track of everything that is said and keep things in perspective should the buyer ask for concessions based on the inspection. Some requests may be reasonable. Others may not. When I am there and can see everything in person, I can protect a seller from unreasonable requests.

Here is the perfect example: A home inspector says during the inspection that the roof has 3 to 5 years left before it needs to be replaced. The translation after a home inspection from the buyer to the seller is that a new roof is needed immediately. Sometimes what the home inspector says and what is written in his report are two different things.

When I am present, I can see and hear firsthand what exactly the issues are. Some buyers will exaggerate everything in the hopes of getting a closing cost concession or the seller making repairs. Home inspections often become the second place of negotiations.

7. Attend The Home Appraisal.

I will attend the home appraisal, so I can answer the questions the appraiser has and make sure they understand the facts about the home. Appraisers need feedback from me the person who knows the house to do their job. I will be there to help clarify any confusion. In many instances, I will be the best qualified to answer an appraiser’s questions.

For example, the appraiser could be looking for all the recent updates, among other things, that have been made in the home. Major updates are certainly something that can influence the value of your home. This is something the agent should be there to point out. Updates are the kind of thing that can have a significant bearing on the outcome of the appraisal.

8. Finalize Loose Ends For Closing.

Selling a house involves a lot of work. There are so many little details that must be taken care of, which is one of the big selling points for my services. As the closing draws near, i will take care of all the loose ends for you. Taking care of the smoke & carbon monoxide detector certificate, final water/sewer readings and any other issues is part of the package I offer. I do more so you don't have to.

Selling a home can be very stressful, but when you have a top-shelf agent in your corner who is taking care of the little details, the burden can be eased just a bit. 

Final Thoughts

In summary, the traits you should be looking for in a real estate agent consist of these attributes:

• Honesty above all else. I will put YOUR needs before my own.
• Professionalism. From the dress to manners, I am the extension of you to everyone I encounter in the home sale journey.
• Excellent communication skills – I will stay in touch with you.
• Strong negotiator – I am a tiger, not a pussy cat.
• Creative marketer – I am not the agent that does the bare minimum. I have a comprehensive marketing plan.
• Exceptional company and personal reputation – Myself and Engel & Völkers are looked up to as leaders.
• Experience and proven results – I have the knowledge and expertise to guide you in unforeseen circumstances. 

        

 

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.

Connect With Us:

      

FREE HOME EVALUATION….$495 VALUE

FREE HOMEEVALUATION….$495 VALUE

A BEGINNER'S GUIDE TO REAL ESTATE INVESTING

Your time is the most valuable asset you have. This is one of the many reasons why real estate investing is so popular among shrewd property investors: once you find the right conditions surrounding a viable option, your purchase's value could easily skyrocket over the coming years. Here are a few factors to consider when buying an investment for the first time.

Before you invest

Before you begin even looking at properties, you need to turn your potential investment into a business venture, which means not listing it under your own name. This is for very simple legal reasons: if anything were to go wrong, you yourself as an individual need to be considered as a separate entity from your business so you can therefore protect your finances and your credit rating. Speak to a lawyer about setting up a Limited Liability Company or a Limited Partnership. Taking this step and opting for business insurance will help protect you from any costly legal processes.

What can you invest in?

You can roughly split the world of real estate investing into two types: commercial and residential. Residential real estate investment is where you either buy property to renovate or wait for its value to appreciate, or you can become a landlord. For the latter, you can either get involved as the first point of call for your tenants, or you can employ an agency or a manager to maintain the tenancy for you.

On the other hand, commercial real estate might be a row of shops or a mall, which you let out to retailers. It could also be a warehouse that you rent to a company for distribution, or just a storage unit – the size of your investment is up to you.

What do I need to know about the area?

The location you choose to invest in will affect the type of tenant you attract and how often your property is vacant. Look for an area with a low crime rate and where residents often remain in place for the long term. Areas with high-achieving schools are not only attractive to a certain demographic of tenant, but they also tend to yield higher rents. Amenities nearby also help to boost prices thanks to their ability to drive up local demand and maintain a lively market.

Finally, do thorough research on the state of the local market and taxation rates as a wise property investor. Even within countries, property taxation is not always fixed – for example, they vary significantly from state to state in the US. The number of vacant properties and listings provides an insight into the state of the local market. If there's an unusually high number, it’s worth checking if this is a seasonal issue or whether the local market has slowed over an extended period of time. If so, it's time to take your investment elsewhere.

How's The Market In Park City Utah.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have already increased by half of a percentage point, to around 4.5% in 2018. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by half a percentage point to around 5.1% by this time next year.

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home which you can then tap into later in life. As a renter, you guarantee your landlord is the person building that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

        

 

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.

 

Insure that you have the best representation when buying and/or selling in The Colony. 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.

Connect With Us: