Tips for real estate transactions with solar panels

Northern Wasatch Association of Realtors Advice, Update

As energy prices rise and solar power becomes more affordable, more Utahns are considering installing solar panels on their homes. In fact, the national Solar Energies Industries Association ranks Utah No. 6 on its list of “Top 10 Solar States.” With the benefits of lower utility bills and improved air quality through clean energy, it’s easy to see why more than 35,000 Utah homes and businesses have installed solar panels. As solar becomes more popular, you may consider installing your own system or think about buying a home that already has solar. Either way, it’s important to ask a lot of questions and make sure you understand exactly what you’re buying. Along with the tips and information in this article, …

A variety of housing types needed to support affordable housing

Northern Wasatch Association of Realtors Advice, Update

Utah business leaders are working to bring more awareness to the issue of housing affordability. That’s because without new housing policies and efforts to build affordable homes, our children could find themselves paying more than $700,000 for a modest home. Those are the findings of a new report from the Kem Gardner Policy Institute at the University of Utah. The Salt Lake Chamber-commissioned study says home prices in the Salt Lake metro area have increased an average 5.7 percent annually over the past 26 years. In fact, since 1991, the increase in Utah home prices has been the fourth-highest in the country. Should similar increases continue over the next 26 years, prices could be $1.3 million in a generation or …

Mortgage Options in 2018

Northern Wasatch Association of Realtors Advice

Home prices are rising in Northern Utah according to Utah Realtors. In Davis County, the median sales price rose 9 percent to $272,500 during the first 10 months of 2017. The trend was similar in Weber County with an increase of 11 percent to $205,000. Prices in Morgan County, where sales volumes are lower, remained flat at $390,000. While home prices likely won’t rise as quickly next year, they will still be up about 4 percent statewide in 2018, according to CoreLogic. While the gain is good for existing owners, it presents challenges for those who want to buy. With more expensive homes, buyers need to save more cash for down payments and qualify for larger loans. Higher prices also …

WHAT ESTATE PLANNING ATTORNEYS WANT REALTORS TO KNOW

Northern Wasatch Association of Realtors Advice

Real estate transactions can be unpredictable, especially if the previous property owner has passed away and the transaction involves the trust or estate of the deceased. As estate planning attorneys, we have encountered multiple deceased-owner cases where realtors have taken their eye off the ball and landed their clients and themselves in an unnecessary mess of one kind or another. However, the good is that all realtors can take some very basic precautions, utilizing tools already at their disposal, and come up smelling like roses at the closing table. Here’s how. Ask good questions, be a good listener and use the preliminary title report as the foundation for a successful transaction. On the seller side, make sure that the people …