In Love With Two Houses?

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What to consider when making the final decision

By Michele Dawson

As you find yourself heavily immersed in house-hunting mode, you may encounter a situation in which you’re torn between two houses. Perhaps you and your spouse each have a favorite, or perhaps you both like two houses equally – or think you do.

Making a final decision and determining which house to make an offer on shouldn’t be taken lightly. The decision should be made rationally and not guided by emotion.
Of course, you may not have the luxury of taking your time on deciding which house you’d like to pursue. You may be in a market in which homes in your price range get snatched up as quickly as they go on the market, perhaps even attracting multiple offers.
But in some situations, you may find yourself torn between two houses. Sometimes the easiest thing to do is take pen to paper and outline your family’s needs, your budget, and the pros and cons of each house.
Some things you’ll want to compare include:
  • The neighborhoods. If the two final contenders are in different neighborhoods, evaluate the pros and cons. If you have kids and being close to a park is important, you’ll want to consider that. How close are shopping, restaurants, church, and other services? Are the streets maintained? Do homeowners landscape and maintain their homes nicely? How long will your commute to work be?
  • The schools. If you have school-aged children, you definitely want to consider the reputation of the neighborhood schools. You can usually find general district information and state standardized test results online. But once you’re this deep in the process, you’ll want to visit the schools and receive the information first-hand from school officials. You should also talk to teachers and parents.
  • Crime. Go to the local police or sheriff department and ask about crime in your specific neighborhood. You might find theft or vandalism to be more prevalent in one area than another.
  • The houses compared to others in the neighborhood. While it may boost your self-esteem to have the biggest house on the block, it’s typically a better idea to stay away from purchasing the neighborhood monster. When it comes time to sell you’ll find that the lower value of your neighbors’ homes will shrink your home’s value.
  • Appreciation. If the two homes you’re eyeing are in different parts of town or different neighborhoods, ask your real estate agent to retrieve sales of homes in those neighborhoods over the past few years. If one neighborhood shows an annual average 8 percent increase and another is skyrocketing at 15 percent, you may have your decision made.
  • The sellers’ situations. If you don’t know already, ask your real estate agent how long each home has been on the market. Usually the longer a house has been listed, the better chance the seller will accept an offer lower than asking price. Conversely, if the house has been on the market for just a couple days, the sellers will probably wait for a better offer if you offer less than the listed price. Your real estate agent might also be able to dig up additional information about the sellers, like why they’re selling. If it’s a job-related move or a divorce, the sellers likely want to move as quickly as possible, meaning you have a better shot at them accepting a lower price.
  • The houses themselves. If you haven’t already, you should make a list of the amenities and attributes you want your house to have. If you want that first-floor home office, a large, open back yard for the kids, or a gourmet kitchen, be sure to include that on your list. Then, rate how each house measures up to each need on your list.
  • Drawbacks. Likewise, make a list of the cons associated with each house and determine how much of a negative impact each will have.
As you carefully weigh all the factors, it might become clear that one house is more enticing than the other. Or, you may find the houses are still equally appealing. If that is the case, be sure you look at the homes more than once. You may notice something you didn’t the first time around – something that could sway you one way or the other.
In fact, you should probably visit each home at least two more times, at different times of the day to get a feeling for how the house and neighborhood look and feel in the morning versus late afternoon or evening. Once you make a decision and an offer, you can take comfort in knowing you may still have a back-up if the deal falls apart.

Featured Home of the Week: Lakota Ridge 1911

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What to consider when making the final decision

By Michele Dawson

As you find yourself heavily immersed in house-hunting mode, you may encounter a situation in which you’re torn between two houses. Perhaps you and your spouse each have a favorite, or perhaps you both like two houses equally – or think you do.

Making a final decision and determining which house to make an offer on shouldn’t be taken lightly. The decision should be made rationally and not guided by emotion.
Of course, you may not have the luxury of taking your time on deciding which house you’d like to pursue. You may be in a market in which homes in your price range get snatched up as quickly as they go on the market, perhaps even attracting multiple offers.
But in some situations, you may find yourself torn between two houses. Sometimes the easiest thing to do is take pen to paper and outline your family’s needs, your budget, and the pros and cons of each house.
Some things you’ll want to compare include:
  • The neighborhoods. If the two final contenders are in different neighborhoods, evaluate the pros and cons. If you have kids and being close to a park is important, you’ll want to consider that. How close are shopping, restaurants, church, and other services? Are the streets maintained? Do homeowners landscape and maintain their homes nicely? How long will your commute to work be?
  • The schools. If you have school-aged children, you definitely want to consider the reputation of the neighborhood schools. You can usually find general district information and state standardized test results online. But once you’re this deep in the process, you’ll want to visit the schools and receive the information first-hand from school officials. You should also talk to teachers and parents.
  • Crime. Go to the local police or sheriff department and ask about crime in your specific neighborhood. You might find theft or vandalism to be more prevalent in one area than another.
  • The houses compared to others in the neighborhood. While it may boost your self-esteem to have the biggest house on the block, it’s typically a better idea to stay away from purchasing the neighborhood monster. When it comes time to sell you’ll find that the lower value of your neighbors’ homes will shrink your home’s value.
  • Appreciation. If the two homes you’re eyeing are in different parts of town or different neighborhoods, ask your real estate agent to retrieve sales of homes in those neighborhoods over the past few years. If one neighborhood shows an annual average 8 percent increase and another is skyrocketing at 15 percent, you may have your decision made.
  • The sellers’ situations. If you don’t know already, ask your real estate agent how long each home has been on the market. Usually the longer a house has been listed, the better chance the seller will accept an offer lower than asking price. Conversely, if the house has been on the market for just a couple days, the sellers will probably wait for a better offer if you offer less than the listed price. Your real estate agent might also be able to dig up additional information about the sellers, like why they’re selling. If it’s a job-related move or a divorce, the sellers likely want to move as quickly as possible, meaning you have a better shot at them accepting a lower price.
  • The houses themselves. If you haven’t already, you should make a list of the amenities and attributes you want your house to have. If you want that first-floor home office, a large, open back yard for the kids, or a gourmet kitchen, be sure to include that on your list. Then, rate how each house measures up to each need on your list.
  • Drawbacks. Likewise, make a list of the cons associated with each house and determine how much of a negative impact each will have.
As you carefully weigh all the factors, it might become clear that one house is more enticing than the other. Or, you may find the houses are still equally appealing. If that is the case, be sure you look at the homes more than once. You may notice something you didn’t the first time around – something that could sway you one way or the other.
In fact, you should probably visit each home at least two more times, at different times of the day to get a feeling for how the house and neighborhood look and feel in the morning versus late afternoon or evening. Once you make a decision and an offer, you can take comfort in knowing you may still have a back-up if the deal falls apart.

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Featured Home of the Week: Primrose Pointe2528 W/O

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This home invites all needing space for family gatherings and entertaining. The main floor provides three bedrooms and two baths in addition to great room, kitchen and dining area. The kitchen boasts breakfast bar and walk in pantry. The master suite includes large walk in closet. The fun can spill into the walk out basement complete with huge great room, two bedrooms and another bathroom. Enjoy outdoor living in the two large patios.https://www.encehomes.com/communities/primrose-pointe/floorplans/2528.php

Featured Home of the Week: Northbridge 2546

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Special features in this home include an angled garage with extra storage space and half guest bath. This spacious home provides a perfect gathering place in the great room, dining area and kitchen with a large island. The master suite boasts two walk in closets, soaker tub and divided sinks. This is a great option for those looking for four bedrooms and two and a half bathrooms in a single story home.https://www.encehomes.com/communities/northbridge/floorplans/2546.php

Saving the Best for Last

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10 benefits of buying at the end of the year

By Michele Dawson

The end of the year is a great time for renters to become homeowners, growing families to move to more accommodating homes, and baby boomers to find houses that fit their evolving lifestyles.

Benefits to buying at the end of the year include:
  • Tax savings. Closing on your new home by Dec. 31 means you can deduct mortgage interest, property taxes and points on your loan on your income tax return. You can also deduct the interest costs associated with a home equity loan. These deductions are significant, especially in the early years of your loan when you are paying off so much interest.
  • Sellers might be more motivated. Many sellers will also be anxious to sell by the end of the year so that they, too, can enjoy tax savings on the next home they purchase. That means you may have more leverage during negotiations and they may be willing to accept lower than their listing price. However, if you’re in a strong seller’s market, you’ll want to be conservative — and always heed the advice of your real estate professional.
  • If you’re buying a new house, there’s a good chance builders will be offering incentives. Many builders will throw in nice little extras to sell as many houses as they can by the end of the year.
  • Generally speaking, your housing choices during the fall are still healthy. By December there are traditionally fewer houses on the market. October and November are great months to go house hunting.
  • It’s easier to move. Many moving companies are booked six or so weeks in advance during the busy summer months. In the fall and winter it’s normally easier to secure the services of a moving company or rental equipment on shorter notice.
  • A new home for the holidays. The holiday season is a great time to celebrate your new home with family and friends.
In addition, you’ll enjoy the many benefits that come with homeownership, regardless of what time of year you buy, including:
  • Paying toward something you own. If you’re renting, your rent payment goes toward something that will last you a month — a place to live for 30 or so days. When you buy a house, your monthly mortgage payment goes toward something you own.
  • Consistent payments. Landlords have the discretion to increase your rent, plus it’s exposed to inflation. Once you secure a mortgage, you can rely on consistent payments (if you have a fixed-rate mortgage).
  • A place to make your own. When you own your house, you can update your kitchen, paint your home’s exterior in any color you choose, change your fixtures, and replace your carpeting — all with the knowledge that the changes you make are your own.
  • Gaining equity. In the beginning, most of your payment goes toward interest. But gradually more will go toward paying off your principal, meaning you build up equity — or savings — in your home. Another factor in equity is appreciation. As home values go up in your area, so too does your rate of equity.

What You Should Look for When House Hunting

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What You Should Look for When House Hunting

Keep your eye on these big-ticket items when shopping for a home
By Diana Lundin
If you’re shopping for a home and can afford to buy one, you couldn’t be in a better position right now. In many parts of the country, housing inventory is high and both home prices and interest rates are low and as a buyer, you can take advantage of that.
With so many properties on the market, you can probably take a more leisurely approach to house hunting without getting into a fast-paced bidding war. There is a caveat, however. The best homes priced properly for the market conditions will always be in higher demand.
As you begin your search for the right home for you, it pays to keep in mind things you need to check carefully so that they don’t cost you big bucks in the long run.
Kitchen
If kitchens matter to you, you might want to be fairly selective about them when looking for a new home. The2009 average price for a minor kitchen remodel for a midrange home is more than $21,000 and the cost for a major remodel is more than $57,000 and the costs are substantially more for higher-end homes.
Look carefully at the appliances, cabinetry, counters and floor. Those are the elements that cost more to replace. If possible, you want newer appliances to save money on repairs and energy costs; solid-wood cabinets; and solid-surface counters, such as granite, stainless steel, butcher block or engineered stone. Your floor choices include wood, cork, laminates and tile and it’s a matter of what’s comfortable and durable for your lifestyle.
Bathrooms
Following kitchens, bathrooms are also expensive rooms to remodel at a 2009 national average of more than $16,000 because of the fixtures and plumbing. Make sure you see no leaks or evidence of leaks in tubs, toilets and flooring. Sharing bathrooms can be one of those pain points for families so make sure you get what you need.
Roof
A roof is a big-ticket item with an average 2009 replacement cost of more than $19,000 although adding a second layer to a roof is not nearly as expensive as replacing the entire thing. Inside the house, you can check the attic, ceilings and skylights for signs of water damage, look for places where the roof deck is sagging, and see if you can detect any light coming through. If you do see light coming through, it is likely not a problem if the roof is made of shake shingles. Outside, inspect for cracked, ripped, curling or missing shingles and damaged flashing.  Also look for rotting, buckling, blistering or algae growth, which could also be signs of trouble.
HVAC
An old heater can be hard to repair and eats up energy at a pace faster than newer units. Furnaces can start at about $5,000 to replace and if you buy a combined unit with the air conditioner, add on several thousand dollars. You may need to replace the heat pump or air conditioner if it’s older than 10 years and a furnace or boiler if it’s more than 15 years old.
Basement
The extra room you gain may be a huge headache if the basement floods. Look for water marks and find out if the house has a system for removing water.
Other areas of concern that might cost money down the line are the driveways and sidewalks, chimneys, insulation and windows.
If you find a house and your offer is accepted, you’ll be dealing with a home inspector who can fill in the gaps with a professional’s eye. The thing is, if you really want the home, you don’t have to let problems deter you. You are in position to negotiate a price reduction with the seller or insist repairs be made to the property before your offer is finalized.
If you can afford a house, you can afford the luxury of taking your time to find the right one for you.

Featured Home of the Week: Northbridge 2040

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Enjoy the private entrance into the stunning rounded tiled foyer. This lovely feature looks through to the great room. The cook will enjoy the large angled counter and walk in pantry in the kitchen. The master suite is complete with soaker tub and double sinks standard. Two staggered bedrooms face the front of the house each boasting large closets. A three car garage is standard. Lots of storage space in this attractive home.https://www.encehomes.com/communities/northbridge/floorplans/2040.php

Secrets to a Successful Move

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Busy moving season is right around the corner

By Diane Benson Harrington

Planning to move this summer? You’re not alone — summer is the busiest time of year for professional movers, according to the American Moving and Storage Association. It’s an arduous process, but these tips will make your transition much smoother.
  • If you’re planning to use a moving company, call now. As busy as they are, they usually need plenty of notice — often at least six weeks or much more if you’re moving a long distance.
  • Be sure to build in some overlap between the closing/possession date of your new home and the last day of the lease on your rental (or closing date of your current home). Moving always takes much longer than you think. If you want to make any changes to your new home — for instance, paint some walls, put in new carpeting or refinish wood floors — plan enough time to do it BEFORE you move in so your furniture and belongings are not in the way.
  • Pare down your belongings. There’s no sense moving things you don’t need or want. Look through your house for rarely used items. Discard anything that’s beyond repair, have a yard sale to get rid of the rest, and plan to load unsold merchandise into your car right away so you can take it to the charity of your choice.
  • Make notes about your new house — room measurements, door measurements, location of electric/cable/phone outlets — so you can determine exactly where your belongings will go. Measure appliances to make sure they fit the space available. When I moved from Florida to Colorado, I measured my refrigerator’s width but not its depth. I hadn’t taken my new kitchen’s floor plan into consideration, and my fridge stuck out so far that I couldn’t open the dishwasher. I’ve also had friends who bought wonderful overstuffed furniture, only to find they couldn’t get it through the doorways of their new house.
  • If the previous homeowners are taking their curtains and blinds, you’ll want to measure windows in places you want privacy immediately (like bedrooms and bathrooms) and buy curtains or blinds before you arrive.
  • Start arranging now for phone and utility hookups. Phone companies, especially, now need a few days (or even a week or more) to get you connected. Arrange now for the type of internet connection you want (if it’s DSL or broadband rather than dial-up), and order extra phone jacks or cable outlets if you need them. Fill out a change of address form with the Post Office. If you have automatic debits on your bank account, alert your creditors if you’re changing banks.
  • You can buy boxes and packing material from a moving company or other sources, but that can be expensive. Instead, ask grocery stores, electronics stores and office supply stores for their discarded boxes. They usually large enough, sturdy enough — and free. Invest in a tape gun, and start saving up newspapers (ask your friends for theirs, too) so you’ll have plenty of packing material if you don’t want to buy bubble wrap.
  • Be sure to pack a box of essentials — a telephone, a couple of changes of clothes, a few pots/pans/dishes/utensils, toiletries, medications — to get you through the first few days. Also, if your mover is late and there are items you couldn’t live without for a few days (like a computer, if you work from your home), consider taking that in your own car.
  • If using a mover, be sure to pack any small, nonbreakable, valuable items (such as jewelry) separately so you can take it with you in your own car. Large valuable items, such as artwork or electronics, should be clearly noted on the mover’s inventory form in case of damage during transit. Do buy insurance to cover any damage that may occur. (Note: movers generally will not insure anything that you pack yourself unless the box itself is missing.)
  • Take the time to record the makes, models and serial numbers of your electronics and other items in a notebook or on a sheet of paper. Put this information, along with owners’ manuals, extra keys, birth certificates, car titles, wills, insurance information, and other vital documents, in a special folder that you’ll keep with you. In your new home, find a place for this folder (or put it in a safety deposit box), so you’ll always know where these important papers are (and can easily grab it in case of a fire).
  • Clean as you pack. Unpacking is hard enough work without the added effort.
  • If you’re renting right now, be sure to clean your apartment or rental house so you don’t risk losing your security deposit.
  • Before you unpack, get a clean start by wiping out drawers and cupboards, sweeping out closets and solid-surface floors and vacuuming the carpets. Next, make up the beds and put towels in the bathrooms. Then you can take your time with the rest of the unpacking.

Housing Recovery: Area contractors report increase in building permits

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ST. GEORGE— After some difficult years, construction is starting to look like a bright spot in the Southern Utah economy again, with building permits up, more homes selling and home prices rising.The industry hit hardest by the Great Recession and the end of Southern Utah’s housing boom — experts estimate 50 percent of area contractors either left the area or went out of business — is finally seeing some recovery, and construction workers are getting back to work, with year-over-year job growth for the first time since the recession.

“I think we’re just at that breaking point where people are going to start hiring more,” said Troy Ence, co-owner of Ence Homes in St. George, where business is up by about 10 percent this year.

Ence said the company has been encouraged by gains the past several months, adding that a busy July — a month usually slower because of the heat — included 23 sales. It’s to the point where some contractors are struggling to find skilled laborers because so many left or found other employment, he said.

“This is probably the best July we’ve had in five years,” he said.

Statewide, construction employment was up 4.7 percent year-over-year in June, according to the latest economic analysis from the Governor’s Office of Planning and Budget, and Lecia Langston, area economist for the Department of Workforce Services, said the industry is moving forward with the rest of the economy.

Construction recovered slower than other industries because of its unique ties to the housing boom, she said, but now it is part of a more diversified economy.

“To me the most positive indicator is that every single industry saw growth this year,” she said. “It’s broad based, and hopefully something that can continue.”

For builders, it has been a welcome reprieve after some tough times, said Austin Andersen, owner of AJ Construction.

Andersen said his company has grown from 10 employees to 19 in the past six months, still a far cry from the 40 employees it had during the peak of the boom, but a comfortable number given the work available, he said.

“Our concrete guys are booked out for three months, and I haven’t seen that in five years,” he said.

Andersen said loans are still hard to come by for many Americans, and builders are still wary of overextending themselves past what the market can continue to support.

“We’re still very cautious. I think all of us who went through what we went through will probably be that way the rest of our lives,” Andersen said.

But while the money isn’t flying like it was during the boom, the stricter lending standards and tighter controls all around lend at least a little more credibility to the improving markets, Andersen said.

“It needs to be that way,” he said. “We shouldn’t be building homes for people who can’t afford them, or for people who can’t afford to sit on them if they don’t sell.”

Carol Sapp, executive officer for the southern utah home builders Association, said she thinks the new growth is healthier. People are still tentative, waiting for the elections and holding back on major purchases in some cases, she said, but in the long run, if the economic growth is sustained, they will want new homes. And Washington County, with its scenery, weather and friendly atmosphere, still has some natural advantages to attract new buyers.

“People want to come here,” she said. “That we know.”

http://www.thespectrum.com/article/20120802/NEWS01/308020030/Housing-Recovery-Area-contractors-report-increase-building-permits?odyssey=tab|topnews|text|Frontpage&nclick_check=1