Category Archives: Real Estate

Salt Lake City Approves Accessory Dwelling Unit’s (mother-in-law apartments)

Summary Good news, ADU’s are now legal and easier to get in Salt Lake City. Here’s the important information… The new ordinance allows for the owner of a property to occupy either the existing home, or the ADU. You can rent out the unit you are not occupying. The ADU can be a free standing structure, or an area or addition of the existing home. You may have 1 ADU per lot. You still have to apply and get approval, … Read more

Salt Lake City Residents, Turn your Current Home into a Cash Flow Machine!

How would you like to reduce your housing overhead & increase the value of your home? Salt Lake City Council just approved a city ordinance allowing mother-in-law accessory units.  Imagine turning your current home into a cash flow machine, helping you reduce your overall housing costs, or by building an accessory unit a family member could occupy. If this is appealing to you, the immediate challenge you may think of is how to finance the accessory unit.  We have the … Read more

5 Tips to winterize your home & save some money on energy bills.

Tis the season to be freezing! It’s that time of year again, the fun holiday season, and cold weather is here. It is important to take certain measures to make sure you and your home are protected during these cold months. Following these tips will not only help make your home more comfortable, but could potentially save you money on your energy bills as well! 1. Get rid of door drafts You know that small opening on the bottom of … Read more

Why Should I Get Pre-Approved BEFORE Finding THE Home I Want? 

Why Should I Get Pre-Approved BEFORE Finding THE Home I Want? If you’re like many clients we speak with, going through the process of getting pre-approved, having your credit pulled, and supplying documentation, seems like too much work until you find THE home you want to buy. In a buyer’s market, where the number of sellers exceed the number of buyers, you can delay pre-approval, and in many cases write an offer and gets accepted by a seller without an … Read more

The Behind the Scenes of how Mortgage Lenders , Brokers, and Realtors get Paid – What you Don’t Know Might Surprise You! 

If you are like many of the clients we work with, you’re likely unclear how mortgage and real estate professionals are paid.  You might even assume that because you are a doctor, the eyes get big and the real estate or mortgage person you are working with only sees dollar signs, and since this is not your area of expertise, you may have some concerns. Here are a few comments we hear from clients regularly: “I’m not going to use … Read more

Rising Mortgage Rates DO NOT Lead to Decreased Home Prices

A lot of people think that rising interest rates will result in lower house prices. What they don’t know is prices are determined by supply and demand.  While rising rates may slow demand, they also affect supply. “For current homeowners, the decision to buy a new home is typically linked to their decision to sell their current home… Because of this link, the financing costs of the existing mortgage are part of the homeowner’s decision of whether and when to … Read more

Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years

Trulia recently posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years (1975-2016). Their research revealed that: “Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In 1980, the median household could only afford about 3/4 of the median home price. Despite relatively stagnant incomes, affordability has grown due to the … Read more

Five Mistakes to Avoid When Purchasing Your New Home.

You may be ready to take the next step in your life and purchase your first home. You may even be ready to move on to a newer home. No matter the case, there are several things that you must do before you move into that beautiful new home. Things like finding a realtor, finding the home, securing financing, saving for a down payment, and many others. With all of those variables, there are some roadblocks and potential mistakes to … Read more

What Impact Do Higher Mortgage Rates Have On Housing Prices?

Mortgage interest rates have risen by nearly one half percent thus far in 2018, most projections are for a five percent 30 year fixed rate by the end of the year and I personally would not be surprised to see it above that. WHY are rates moving higher after 30 years of lower and lower interest rates? As I have written about before, higher mortgage rates are a near certainty due to the fact inflation is ticking up faster than … Read more

Are Real Estate Prices “Crazy”?

Are you surprised by what it costs to buy a nice home nowadays?  With interest rates still relatively low and the economy nearing full throttle, prices of virtually every asset around the world have gone up. How can you tell if we have entered a bubble and if the houses you are looking at are crazily priced? There are actually several reliable indicators you can apply to give you some context and help you understand if property values have gotten … Read more

As seen on