One of the fastest ways to derail a real estate transaction is to have the appraisal come in lower than the contract sale price for a property.  We like to think of the real estate market as the bastion of the free market.  Buyers and sellers can transact freely and negotiate terms that are acceptable to each of them.  However, given that mortgage lending is required for the majority of real estate transactions, there can be some hang ups when a lender gets involved.   Mortgage lenders are educated […]

I just recently closed on the sale of this South Ogden home with some first-time home buyers.   My clients were hoping that shopping during late Fall would help them find a better bargain than during the more active selling seasons of Spring and Summer.     We toured homes all over Weber County while looking at homes in a particular price range.  We found a variety of homes in varying states of repair.  Some were complete fixer-uppers in nicer neighborhoods while others were smaller homes in superior condition.   […]

Landlords want rents to be as high as possible.  Tenants want rents to be as low as possible.  So somewhere in the mix, rents are established that meet the needs of both parties…or so it would seem.  The free market of housing works pretty well most of the time.  But sometimes, for sociological reasons, things don’t work out well for either party.     The Salt Lake Tribute recently posted this political cartoon lampooning the plight of tenants. It made me laugh.  But the caption at the bottom was disturbing. […]

I just closed on the sale of this brick triplex property in Ogden. While the building looks like a house, it was originally constructed as 3 units with a single bed unit upstairs, a 2 bed unit on the main level, and a spacious 1 bedroom basement unit below.  The building generates $1,800 in rents with the owner paying for water and joint gas utilities.  This property boasts an ROI of around 13% annually.   We originally listed the property for sale in October 2014 for $164,900.  The property sat […]

One of the market indicators that helps us track the real estate market cycle is “Days On Market” (aka DOM).  This is a simple measurement that tells us how long a home is marketed for sale before an offer is accepted on the property.  It marks the time between the home being officially put up for sale and the seller signing a purchased contract with a buyer.   As such, it is a measure of demand and tells us how “hot” or “cold” the market is in any given moment. […]

Just when you thought you had seen it all… When staging your home for sale, put away your creepy clown masks, or close the closet door…or both.   Need to use the bathroom? It’s a lot easier to make a convenient pit stop on your way to the basement.  Doors, you say?  Who needs doors?   Ummm…..   The only think missing here is marinara sauce.   This is how you know your handiman purchased the EXACT amount of flooring material to do the job…but still not enough to do the […]

  Our family recently took a trip to St. George to decompress before the busy holiday season.  While we were in the area, we decided to explore some of the trails in the nearby wilderness.  Our quest took us to the Scout Cave and Johnson Canyon Arch trailhead just south of the entrance to Snow Canyon State Park. While the trail is pretty obvious at the early onset, the trail becomes more difficult to navigate moving forward.   As usual, southern Utah has an ‘other worldly’ appeal that is unique […]

Property Management is something of a renaissance profession.  It requires a knack for accounting, people skills, and a healthy ability to accurately predict risk.  I find the work intellectually fascinating as it merges sociology and economics into a real world experience.  If you ever want to know what is really going on in the world, become a property manager.   One of the great challenges that landlords face is dealing with trouble tenants.  In our 11 year history of managing property, we have only had to formally evict one of […]

I just closed on the sale of this interesting fourplex located at 2943 Porter Ave. in Ogden. We listed this property in April for $174,900.  The owner had some particular objectives he wanted to achieve and it necessitated us only selling the property via seller financing. We received our first offer just days after listing the property.  This initial offer was at $169,900 and we went under contract.  Unfortunately, the property was in a state of flux as tenants were coming and going and work was being performed on the […]

Recently, the Union Station Foundation reached out and invited me on a tour of the Union Station building.  The building is the cap to Historic 25th Street and since I have been there many times, I didn’t think there was too much to see that I hadn’t seen already.  Well, on this trip they had a special surprise.   As a quick review, the current Union Station building was rebuilt quickly after the Victorian version burned in 1923.  Reconstruction began in April 1924 and the building was opened in November […]

I just closed on the sale of this investment-grade property located in Ogden at 2633 Liberty Ave. This home has been used as a rental property for a very long time.  The seller purchased it from the bank during the market trough back in 2011.  After renting it out for several years, the seller decided to liquidate the property. This 4 bed 1 bath home was renovated with new paint and some basic repairs.  We listed the home for $74,900. Within a week, we received a cash offer at list […]

I just closed on the sale of this listing that came on the market less than two weeks ago.  This particular home was owned by the same family since 1940.  Over the last 75 years, the home has pretty much been left intact with the exception of some carpet installation and bathroom remodels done in the late 1970’s or early 1980’s.  The water heater on this home had an installation date of 1979. The property needed some significant TCL given the age of the systems. There had also been cats […]

I just closed on the sale of this very unique property located in South Ogden, Utah.  This particular home was constructed originally with one accessory apartment and a separate office space attached to the main living quarters.  Later, the office was converted into a separate apartment thus making the home a triplex. I sold this property to the owners back in 2007 and they made the largest unit their home for the past 8 years.  A change in lifestyle required them to sell the home so they could continue on […]

I just listed this amazing example of Craftsman architecture located at 515 24th St. in Ogden, Utah.  The home was originally the residence of the minister for the Presbyterian Church next door.  The church is no longer there and the home was sold long ago to the current owners.  But, current owners have lived in the property for over 50 years and it shows in the integrity of the original woodwork, casings, fireplace, and other fine finishes.   Unfortunately, the owner lost the ability to update and keep up the […]

I just closed on the sale of this one-level home in Ogden.  I listed this home in mid-September at $115,900.  At the time, I had a young couple I was working with who were also in the market for a starter home in the Ogden area.  Once the property was ready and on the market, I notified them of the opportunity and they immediately came to look at the home.  We submitted an an offer at list price that evening. The buyers also requested $2950 in seller paid closing costs […]