MARKET TRENDS:  Fork in the Road?

November 17, 2017 Posted by: Jeremy Peterson

As the year wraps up, it is apparent that 2017 has been a banner year for real estate values.  Prices have surged 15.5% in Weber County.  Sales times reached record lows over the summer.  And buyers continue to outnumber sellers and create bidding wars at every turn.   Yet, it feels like there is a change coming in the market.  Interpreting the signals is proving to be a little harder than in the past.  I will explain why.  But first, here are the charts.       First, here is […]

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Posted In: Research

JUST SOLD!  Historic Craftsman Diamond in the Rough

November 9, 2017 Posted by: Jeremy Peterson

We just closed on the sale of this rare historic craftsman home located at 2255 Jefferson Ave. in Ogden.  The home was constructed in 1918 and later subdivided into 6 apartments.  At over 4000 SQFT, the home boasts a huge footprint with plenty of room to occupy.  The buyers of the the home will be utilizing Unit Reduction Money from Ogden City to convert this building back into a single residence.   The buyers paid $160,000 for the home.  The construction budget is approximately $110,000 to complete the renovation.  Look […]

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Posted In: Sold Listing

JUST SOLD! Renovated 1920’s Ogden Bungalow

November 8, 2017 Posted by: Jeremy Peterson

We just closed on the sale of this cute bungalow in Ogden.  The home is 4 bedrooms and 1 bath with a freshly updated kitchen and bath.  Improvements also included new carpet, paint, water heater, roof reinforcement, and more.   Here you can see the before and after pictures of the work done on the home.   The bathroom was updated with a new tile surround, vanity, and backspash. The kitchen renovation included gutting the existing cabinets and replacing them.  Another bank of cabinets was also added to house the […]

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Posted In: Sold Listing

RENTAL REHAB:  The Power of Paint

November 1, 2017 Posted by: Jeremy Peterson

Whether you are getting a home ready to sell or getting a home ready to rent, putting a property’s best face forward will always get you the best returns.  We benefited from this approach while preparing a rental property in our portfolio for sale.  Rents had held steady for several years as the most recent paint job on the home faded and began to show signs of wear.  The owner selected three colors.         Here are the before and after.     If you need advise on […]

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Posted In: Property Management

UNDER NEW MANAGEMENT:  Amazing New Roy Rambler

Posted by: Jeremy Peterson

We just took over management of this amazing rambler home in Roy for member of the Air Force who is being deployed abroad.  The home was constructed in 2015 has has all the finishes you could want.  The home features granite countertops, stain grade cabinets, stained glass, and more.   The configuration is 2800 SQFT with 3 beds and 2 baths on the main level.  The basement is unfinished.  It also has a spacious two car garage.     You can schedule a showing at 801-438-3049.  

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Posted In: Property Management

VIDEO:  MY OLD HOUSE – Ep. 1 – 1908 Craftsman Home Basement Remodel Overview

October 21, 2017 Posted by: Jeremy Peterson

We have been working towards finishing the basement in our historic 1908 craftsman home.  The process has been and continues to be tedious.  We recently obtained our city permit after getting a structural engineer to sign off on the project.  We are excited to finally move forward.  So, with out further ado let me introduce our project with MY OLD HOUSE  – Episode 1.  Look forward to other episodes in the future as we move along with the work.  

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UNDER NEW MANAGEMENT: Lorin Farr Neighborhood Duplex

October 17, 2017 Posted by: Jeremy Peterson

We just took over management of this newly purchased duplex located at 462 Canyon Rd.  The building is a historic home that was converted into two units in an up and down configuration.  The upstairs unit is 3 bedrooms 1 bath with the basement being a unique 2 bedroom configuration.   We welcome our newest client to our property management family!        

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Posted In: Property Management

EARNEST MONEY GAMBLE:  Sellers Calling Buyer’s Bluff

October 4, 2017 Posted by: Jeremy Peterson

With Utah being in a housing crisis, the market is extremely lopsided in favor of sellers.  Anytime a market becomes imbalanced in either direction, unusual behavior begins to appear.  Presently, buyers have reached a point of desperation in seeking housing.  This panic manifests itself in shotgun offers, where buyers will write several offers on several homes at once hoping at least one will be accepted.  Or, worse, it appears as blind offers where the buyer hasn’t even driven by the home and hopes to lock it up in a contract […]

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Posted In: Miscellaneous

Wacky Scenes from the Housing Market – October 2017

September 27, 2017 Posted by: Jeremy Peterson

  It has been a while since we published weird and oddball photos of things we have found in the housing market.  So, here is the latest… What appears as a three-quarter bathroom to some is a dolled-up laboratory emergency wash station to others.   Don’t drink and drive in your driveway.   Vegetation can enhance the appeal of your property…if it’s in the right places.   Don’t drink and drive into your landlord’s garage doors.   When listing your home for sale, avoid vertigo-inducing paint schemes.   Don’t drink […]

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Posted In: Miscellaneous

Real Estate Investment Financing Spotlight: Goldenwest Credit Union

Posted by: Jeremy Peterson

  One of the major hurdles of real estate investing is finding the right financing.  Funding an acquisition or refinance can take many forms depending on your exit strategy or long-term goals.  Hard Money, Construction Loans, Bridge Loans, Private Loans, Seller Financing, FHA, VA, and SBA are all ways to create an IOU to a lender.   Unfortunately, for individuals who are self-employed, like me, using 1099 income to secure a mortgage often leaves many doors shut to you.   I recently ran into this problem while attempting to secure a […]

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Posted In: Miscellaneous

OGDEN RISING:  Junction Lot To Be New Family History Library

September 17, 2017 Posted by: Jeremy Peterson

Ogden’s downtown scene continues to develop.  Recently a regional LDS Church official announced the Church’s intentions to build a Family History Library on the corner of 22nd St. and Grant Ave.   Nearly 10 years ago, prior to the real estate market collapse, the lot was moving toward being developed as Ashton Square Condominiums.  I recently had lunch with the former developer and heard the story.  In 2008, the market began to crumble while designs were still being polished on the project.  Up till that point, the building had been […]

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Posted In: Real Estate News

UNDER NEW MANAGEMENT:  Washington Terrace Duplex

September 13, 2017 Posted by: Jeremy Peterson

Our management company just took over management of this fine duplex located in Washington Terrace.  The two units are 975 SQFT each with two bedrooms and one bathroom on each side.  Each unit has its own fenced yard, carport, and storage.   The owner of the building is moving out of one unit to another part of the county and wants a hands off experience as an income property owner.  We welcome him to our family of clients.   If you are looking for a passive income experience with your […]

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Posted In: Property Management

Understanding Ogden City’s Rules For Vacation Rentals

September 4, 2017 Posted by: Jeremy Peterson

A lot of people have asked me recently about the idea of converting their rental property in Ogden City to vacation rental use.  With the proliferation of online venues like AirBNB, it seems that becoming a vacation rental owner is easier than ever.  This year was our first time using the service as customers.  We stayed at a condo in St. George in June and just about two weeks ago we found an impossibly small Victorian Cottage in Leadville, CO while we hiked Mount Elbert.  The service was convenient and […]

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Utah Real Estate Prices Going California-Style?

Posted by: Jeremy Peterson

Real Estate prices in Weber County have seen an unprecedented run since the market trough in 2012.  Indeed, 2017 has seen real estate values increase over 10% since the start of the year.  In April of this year, after looking at the charts, I surmised that we had reached a top in real estate prices.  Inflation adjusted prices had blown past our 2007 peak which signaled that we might be due for a turn.   What I didn’t fully understand at that time was the scale of the forces at work creating […]

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Posted In: Uncategorized

JUST SOLD!  Classic Craftsman Era Home

August 30, 2017 Posted by: Jeremy Peterson

We just closed on the sale of this property located at 3051 Porter Ave.  We originally listed this 3 bed 2 bath home on June 13th for $144,900.  We immediately received 5 offers.  We did a round of highest and best offers and accepted the highest offer.  Unfortunately, the buyers backed out two days later after their family walked through the property.  It appears the offer had been partly blind.  So, we went to our next offer who was excited to move forward.  We put the home under contract again. […]

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Posted In: Sold Listing

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