REALizeUtah.com Real Estate

With all the rain this May/June, you obviously haven’t needed to do much watering for your lawn yet! Just because the sun has been out for a few days doesn’t mean you need to start now. You want your lawn to have a healthy, deep root system, this is just one of many reasons NOT to turn your irrigation on yet. Deeper roots draw moisture from a larger volume of soil, and therefore, require less irrigation.

There are 2 tests you can use to determine if your yard is dry enough to start watering. The first is a screwdriver test. Adequate solk moisture at 6 to 8 inches deep is sufficient to maintain grasses during the summer. A long slender screwdriver pushed into the ground in several locations can give a quick assessment of the moisture condition of the soil. The screwdriver will easily penetrate to the soil depth that is still moist.

The other test is called foot-printing. Walk across your lawn late in the day and look back to see if your steps left footprints. Your footprints will appear in a lawn when the grass has low levels of water. When the blades are compressed by your feet, the low ater levels prevent the grass from springing back. If footprints remain for an extended period of time, it’s time to water.

Taller grass has a deeper root system that draws moisture from a larger volume of soil, and needs less irrigation. Grass should never be less than 2.5 inches after mowing. Mowing once a week is usually enough to maintain the proper height. A lawn that is 3 to 3.5″ will have a better chance of surviving prolonged drought and water restrictions.

To keep your root system healthy, water no more often than every third day, and make sure to turn it off after it rains. If you are served by Park City Municipal, call 615-5301 to obtain your Every Third Day watering sign, and you will be exempt from the every-other-day (odd/even) watering ordinance.

Many of these tips have been borrowed from Tom Ward of the Park City Water Conservation Taks force, so thanks to him for providing this helpful information.

With the weather warming up, and ski season over, everyone is thinking about summer activities. One of the great things about Park City in the summer is the wide variety of things to do, and one of my favorites is the summer concerts at Deer Valley! They are on Wednesday afternoons, and are completely FREE! You can stop by the farmer’s market at the Canyon’s resort on the way up, and pick up some fresh fruits, maybe a pizza from Volkers bakery, bring a 6-pack of beer or a bottle of wine, and enjoy a nice afternoon in the great mountain outdoors! Please see below for the free concert series schedule. They begin on Wednesday, June 24th!

2009 Summer Concert Schedule

Wednesday, June 24, 2009
6:00PM – 8:00PM
Rich Wyman

Wednesday, July 1, 2009
6:00PM – 8:00PM
The No Name Jazz Band

Wednesday, July 8, 2009
6:00PM – 8:00PM
Fat Paw

Wednesday, July 15, 2009
6:00PM – 8:00PM
Soul Survivors

Wednesday, July 22, 2009
6:00PM – 8:00PM
Swagger

Wednesday, July 29, 2009
6:00PM – 8:00PM
Mary Beth

Wednesday, August 5, 2009
6:00PM – 8:00PM
Dr. Bob

Wednesday, August 12, 2009
6:00PM – 8:00PM
Sin City Soul

Wednesday, August 19, 2009
6:00PM – 8:00PM
Coverdogs Featuring Tony Oros

Wednesday, August 26, 2009
6:00PM – 8:00PM
The Detonators

Please check back to future posts – I’ll be featuring Deer Valley’s “Big stars, bright nights” series, as well as the free concerts at The Canyons Resort!

In today’s challenging market, more and more sellers are offering seller financing for buyers in order to help sell their home! There are a lot of benefits for both buyers and sellers!

Buyers: Maybe you’re self-employed, and can’t prove all of your income. Maybe you have some dings on your credit due to the challenging economy. Maybe you had a previous foreclosure, and you’re looking to downsize into a more affordable home. Even if you’re just lacking a down payment – Seller financing might be a great option! AND – for first time home buyers (or people who haven’t owned a home for 3 years) the $8000 federal tax credit is STILL AVILABLE TO YOU! If you buy a brand new home (never lived in) you may also be able to apply for an additional $6000 grant from the state of Utah!! The bottom line is – with seller financing, you COULD, NOT ONLY BUY A HOME, BUT POCKET UP TO $14000 if you qualify for both programs!!! Call me for more details! I’m happy to help you buy a home with seller financing!

Sellers: Can’t sell your home? Consider offering seller financing. There may be significant tax benefits to doing so, AND, you can make a great return on your money! There is a way around most obstacles, please feel free to contact me if you have questions about this process!

Everyone can take advantage of the current market.

If you’ve ever wanted to own a ski in/ski out home or condo, now could be your best chance! Prices have come down in Park City over the past few months, and with incredible financing rates now available, there’s never been a better time. Some sellers are starting to get more desperate to sell with the season coming to an end, and are more and more willing to negotiate.

Visit my new Ski In/Ski Out Real Estate Page to check out listings that are currently available for sale! CLICK HERE. You will find listings for homes and condos at all 3 resorts, so whether you’re looking for a luxury second home residence, or an income producing condo, you should definitely check it out.

Do you have a child who is a college student or recent college grad? Or are YOU a college student or recent grad who would rather own than pay rent? FHA loan programs allow for a parent/grandparent/family member to cosign on a loan for another person, in order to help them show enough income to qualify, and the time has never been better! FHA loans will allow a buyer to borrow up to 96.5%, and with the new $8000 tax credit for first time buyers, borrowers in many cases can get into a new home with almost NO money down! Rates are excellent, as low as 5% in some cases, and with so many houses available on the market, it’s a great time for buyers to get an excellent value on their first home. There are some real “deals” available, and sellers are very motivated.

Please call or EMAIL me if you would like more information. I would be happy to send you my first time homebuyer information packet, which contains more details on the program above, as well as many others, and tons of other great information to get you started on the path to home-ownership.

As part of the stimulus package recently approved, there is an $8000 tax credit for first time home buyers!  A first time home buyer is defined as anyone who has not owned a home in the past 3 years.

Unlike the previous $7500 package, this is a real TAX CREDIT, and does not need to be paid back, as long as the home is the buyer’s primary residence for at least 3 years.

With rates around 5% for a 30-year fixed, and some loans requiring as little as 3.5% down, the time has never been better for first time home-buyers to begin their path of financial stability through equity in their home.

FHA Loan terms also allow for a non-occupant co-borrower (Like a parent or grandparent) to help their younger family members qualify to buy a home at this incredibly opportune time, and have payments, in many cases, less than rent!

Here are a few of the main points about this tax credit.

• The tax credit is for first-time home buyers only.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

A great resource for the full details on this tax credit is http://www.federalhousingtaxcredit.com/

Please contact me with any questions.  I would love to help you take advantage of this amazing opportunity, and find the perfect home!

How’s the market in your state?

Here in Utah, as is true with Most places I think, the residential market has slowed down significantly in volume. Prices haven’t plummeted here in Utah the way they have in some areas, but we are seeing more and more REO properties, and short sales. I think it’s a great time for people to make a lateral move in our market, or for people who want to upgrade a bit. The next few months, between now and a year from now, It will be a great opportunity for buyers to get some real ‘deals’.

As always, feel free to comment if you have anything to add, or with any questions!

It’s nearly May, and the weather is finally starting to get nice here in Park City! Today, it is sunny, and nearly 70 degrees outside, a BIG change from the snow we had last week!!

There is so much great stuff to do here in Park City in the summer! It is not nearly as crowded, Winter is our big tourist time, so there are locals specials all over!! there are TONS of 2 for 1 coupons in the local newspaper for dining at some awesome restaurants, and specials on just about everything else too!

Park City Resort has some very fun summer activities, including Horseback Riding, The Alpine Coaster and Alpine Slide, The Zip ride, and much more! Check out their website for more!

Deer Valley is home to the Mountain Town Stages summer concert series, which is SO much fun in the summer! On Wednesday afternoons, there are free concerts. You can bring chairs or a blanket, a cooler, and enjoy!

The Canyons hosts free concerts on Saturday afternoons too, and they have the Farmer’s Market every Wednesday in their lower parking lot!!

The Park City area is also home to over 400 MILES of trails for hiking, biking, and more! So if you’re considering a mountain trip this summer, Park City should be at the top of your list! For links to all of these and more, please visit http://realizeutah.com/park-city-information/activities

Summer is also a great time to find some incredible bargains on real estate, and you can stay in a beautiful condo for not too much money per night! It’s a very fun vacation for a family in the summer, and a great time to look at all that Park City has to offer!

As always, Please feel free to comment with questions or anything to add!

The number of houses and condos sold dropped a whopping 45 percent in the first quarter of 2008, versus the first quarter of 2007! But despite the slump in volume, house prices held pretty steady, and the overall, median prices only dipped slightly. Sellers are becoming more and more flexible though, and there has never been a better time for locals to make a lateral move within our market.

There was an article published in this Saturday’s Park Record which gives a pretty good picture of our market here right now – We’re definitely weathering this lending and real estate storm much better than a lot of other areas.

http://www.jparkcity.com/parkrecordarticle1.htm

Get your facts strait!

Fact: Utah’s economy is leading the nation, with healthy population growth, low unemployment and high job growth.

Fact: Park City continues to represent a great value when compared to other world-class ski resort towns – and Park City is one of the most accessible ski resort towns.

Fact: Park City sales volume in 2007 hit nearly $2 Billion – that’s the second-best year in history and up 3% from 2006!

Fact: The Salt Lake International Airport makes for an easy commute
to Park City, whether traveling for business or the world-class skiing.

Fact: The Park City real estate market appreciated by 11% in 2007.

Fact: Local Park City REALTORS^® are very involved in their community.

Fact: Park City is home to 2 of SKI Magazine’s Top 10 Resorts in North America for 2007, with Deer Valley® Resort as the #1 resort for third time.

Fact: The Park City area has 10 world-class ski resorts within an hour drive.

So, contrary to the media’s belief, the sky really is NOT falling!