Monthly Archives: February 2007

Most Viewed on BlueRoof.com Last Week

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This fixer in Tooele was the most-viewed property on BlueRoof last week, with 115 people viewing the property details page. Easy to see why it got so much attention, with an all-brick exterior and charming roof-line.

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The home has almost 1700 square feet, 3 bedrooms and a full bath. It also sits on .30 acres of land and has a 1 car garage and 1 car carport. It has been under contract four times with the sale failing, so you might want to make sure you’re pre-approved before writing an offer.

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The property is listed with Melody Waltke (435-843-7282) and  Judy L. Smith (435-849-2560) of Allpro Realty Group in  Tooele (435-841-9765).

How Loyal is Your Realtor?

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CNNMoney recently published an article discussing incentives given to buyer’s agents and where their loyalties lie when commissions vary dramatically selling one house over another. “It’s tough to be objective when the reward for selling one house is much greater than the rest,” says one agent.

This problem is much worse in certain markets and here’s why;

Take a market like Vegas or many of the California markets where prices during the last few years just skyrocketed because of investor speculation and home recycling, or “flipping”. You buy six homes in one neighborhood for $200,000 and remodel them and then sell them three months later for $300,000 each and what happens to the average price of that neighborhood? It goes up 50% in three months! Now, imagine entire cities where this has happened and you see why these markets need prices to correct. So in these markets the prices need to drop or at least the appreciation needs to slow substantially to allow for natural price-growth to catch up. But see, in these markets where it was booming artificially the builders and investors were buying up everything they could to feed the beast and now that their market has slowed they have too much inventory and now they need to sell. So now the investors might offer incentives to sell their extra inventory.

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When I was a broker in East Bay (San Francisco) back in 1998-2001 I remember buyers trying to buy new construction and the builders had so much demand they would have to hold lotteries where sometimes 300 people would be trying to “win” one of 60 homes. In the resale market we would list a home on Thursday for $800,000 and put in the MLS that we’ll accept an offer the following Tuesday. And we’d have thirty offers come in and the sellers would end up getting $900,000 for the home. This was because of demand- way more buyers than sellers, and a demand for the area (during the tech-boom). A lot of people were moving into the area. Then the investors came in full force, and why not? Average sales prices of over $800,000 and lots of buyers meant ton$ of money. Eventually the supply grew more than the demand and now it’s correcting.

In northern Utah right now our market is very strong and prices are rising, but not because of investor speculation and flipping, but because of job growth and demand. Sure there are plenty of investors flipping homes and buying to hold-and-sell, but that’s a small percentage of the market. Plus we appreciated about 20% last year, not 50%- and this year we’ll probably appreciate around 10-14%. Strong, but healthy growth.

I remember years ago when the local market was slower and it was more difficult to sell a house, we would occasionally see an incentive for selling a house, but even then it wasn’t around that much. It really comes down to having a good agent that knows what they are doing and that you can trust on your side.

Find a good agent and stick with them, build a relationship so you always have their loyalty. When you have that relationship with a good agent they will watch your back and give you good advice, no matter what the market is doing. 

(H/T to BlueCollar Agent)

Most Searched For Terms in Real Estate

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When it comes to real estate in America, what do people search for? Before I began writing this I made a list of my own to see just how close I could nail it. I mean, after all, I’m a real estate vet with years of experience and I run a couple of the most-visited real estate web sites in Utah, so I should have some pretty good guesses, right?

Here’s my list of what I thought the most searched for terms that drove people to my websites would be (excluding the website names):

1-“real estate”

2- “homes”

3- “homes for sale”

4- “realtor.com”

5- “real estate for sale”

These are generic terms and not area specific. My top list of terms searched for in northern Utah, my market would be:

1- “salt lake real estate”

2- “Salt lake city real estate”

3- “real estate salt lake city, ut”

4- “utah homes”

5- “salt lake homes”

Both seem like fairly straight-forward lists, so how close am I?

PropBot says:
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This is interesting because on thier site you basically just type in anything, like a search engine, so a lot o fpeople probably search for things like 3bd, 2 bth home in Tulsa. What’s really interesting is that a specific home is ranked #7.0

Escape Homes says the top terms on their site are:

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According to HitWise, the top-searched real estate terms are:

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A lot of people use search engines to type in domain names instead of putting the domain name into the address bar- just out of habit or for the spell-check or something.

RealtyTimes columnist Jordan Glogau did some reasearch and found:

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This is some great research because it shows how people search in different categories. I would think more people would search for California then New York, with more people living there and so many more homes there.

And then for BlueRoof.com. During the last 30 days here are the top search terms people typed into all search engines to find BlueRoof. Of course this is not a list of the top terms searched for- rather, it’s a list of the top keywords that people searched for and then were taken to BlueRoof- it’s still interesting to see which keywords have been used most frequently. I’m sure most sites have the top terms as being their site name, but the top search terms bringing people to BlueRoof.com are:

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So, again many people use the search engines to type in domain names instead of the address bar. And if you take out the people who actually searched specifically for BlueRoof the top keywords would be:

1- homes for sale in Utah

2- salt lake city real estate

3- utah homes

4- real estate utah

5- homes for sale utah

6- real estate in utah

7- salt lake real estate

8- salt lake city homes

9- homes for sale in salt lake city

10- salt lake city homes for sale

So most people are searching for similar terms when coming to BlueRoof. When I look at my other website, which doesn’t have a brand name like BlueRoof does, the top terms for the last month are:

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The main surprise to me is how few people actually searched for the keyword MLS. I would think many more people would. If anyone has any additional stats on keyword searches or on your own website acitivity (you don’t need to share numbers like I did) please share them or give a link where we can see them. 

Local Blogging Classes

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Local blogger Newspapergrl will be teaching two classes on blogging soon. If you are local and are wanting to get into blogging you could do much worse than learning from Janet, she’s an accomplished blogger.

Introduction to Blogging – Learn How to Blog

Wednesday, March 7, 2007
7pm-8pm
Cherishing Place (a private home)
272 South 540 East
Lehi, Utah

Wednesday, March 14, 2007
7pm-8pm
LDS Employment Center by Deseret Industries
437 South 500 East
American Fork, Utah

There is room for up to 30 people at the American Fork class and 15 at Cherishing Place. Contact Janet to get yourself a spot. You can email her at (janet @ affiliateflash.com.)

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Homes Getting Greener

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More than 300 building professionals gathered Wednesday at the second annual Salt Lake Sustainable Building Conference, along with Salt Lake City Mayor Rocky Anderson and Salt Lake County Mayor Peter Corroon. They discussed new advances in technology and the implementation of green processes and materials.

Green building incorporates everything from using recycled materials and natural lighting to solar panels and wind-generated power and drought-tolerant landscaping in new construction.

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Tree House
Joe Prudden, Architect

According to Dream Green Homes, this home could be close to a “zero energy home” by being designed for passive solar heating and passive cooling.

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Earth-Sheltered Atrium Home
Ferid Abbasher, Architect

This home is fascinating. Due to the oval shape of the inner atrium (the courtyard), the living room, the kitchen and dining and the bedrooms all face maximum sunlight, sometimes from the south, at other times from the east and the west; this allows passive solar heating for these spaces. Masonry walls and foundations are made of recycled concrete blocks with recycled paper fillings. Recycled glass is used or floor insulation.

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Surface water can easily be utilized in this EcoHouse design
to reduce the domestic water consumption expenses. Being
earth-sheltered, the water tank is protected from extremely
low or high temperatures. The earth falls around the tank
are profiled in such a way as to funnel the rainwater into the tank.

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The collected water is then thoroughly treated for domestic consumption using the state-of-the-art StormTreat System™ produced by StormTreat Systems, Inc. Rainwater is treated by 100% biological means and is 100% safe for domestic use.

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One company leading the way in Utah is Kennecott Land, which owns hundreds of thousands of acres along the west bench of the Salt Lake valley and will be developing over 20,000 homes over the next 25 years. In October, the U.S. Green Building Council awarded Kennecott Land a “Leadership in Energy and Environmental Design” Silver rating for the Daybreak Elementary School and Community Center, which uses a ground-source heating and cooling system and is estimated to save roughly 25 cents per square foot. Peter McMahon, president of Kennecott Land, which owns Daybreak in South Jordan, said while other homebuilders may incorporate some green building aspects, Kennecott Land likely does more. “We capture all of our stormwater,” McMahon said. “We use the lake as both an amenity and in irrigation. We do a lot of natural landscaping. We do a whole variety of environmental management things.”

More at DeseretNews
 

Inman News Interviews BlueRoof

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Glenn Roberts of Inman News interviewed me recently for an article discussing company blogs, which was published today. Along with BlueRoof, the other company blogs included in the interview were HotPads, Zillow, Zip Realty, Sellsius, and The Real Estate Tomato.

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Roberts also covered the launch of BlueRoof back at the beginning of August 2006 and has written a ton of great articles about the industry and where it’s heading.

Blogging gives a company, a group, or an individual a public voice. One of the great parts about blogging is the direct connect it has with readers, the communication and feedback. Blogging can change the way one thinks about their topics and why the blog in the first place. And blogs can be updated as often as the owner wants, so checking back with a favorite blog throughout the day you might find more than one new post.

I think it’s important to give blogs a personality and not stick with only factual postings. Most major blogs have their share of criticizing and opinions about new trends in the industry and that’s part of the attraction, or as Sellsius calls it Magnetism (the ability to bring people back). Even if that means some people don’t like it.

The legs of blog posts are probably the most amazing part of blogging to me. Check out the daily hit report on this post I wrote about Feng Shui.

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As you can see it I wrote it back in August and when I first posted it there were a few people a day who found it, then it went unread for months until January and then this month it just began being read and is averaging between 6-8 searches per day. Not a top post, but it shows the legs a post can have.

The chart represents people who go directly to that post from a search engine or are linked from another blog, not total reads, so you really get an idea of how topics will have interest all-of-a-sudden and will cause people to search for them.

Other posts have similar trends…

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Some are consistently sporadic…

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Other have interest from something in the news- months after they’ve been written

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You just never really know when a post is going to get attention- many times I’ll post about something and it gets read for a few days and then is forgotten…

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but you never know when it will come back again.

LPR- Atlanta Home Builder with A Wonderful Site

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I don’t know anything about the Atlanta home market or builders in the area. I don’t even know much of anything about LPR Homes, except they have a great website. If you enjoy seeing good design check it out. And if you are buying in the Atlanta area, you may want to start your search here.

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This is what a website should be. It’s clean and simple to use. It has wonderful visuals and navigating is a breeze. They use good fonts and their copy is fun to read. The entire presentation is wonderful.

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The layout of homes is simple and appealing. Each page has been designed for it’s visual appeal as well as its function.

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The head of each page changes with great images and information. Simple and fun design with the either up or coming information that buyers want makes this one of the best builder sites I have seen.

Shooting from the hip blind-folded on subjects I know nothing about

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I remember blogging a few years ago when nobody read blogs and I didn’t think anyone would ever read my blogs. I had a few blogs (most are no longer active) and now I really only post to this one. Back then I wrote about much more personal things.

And because this is my blog I write about things that I think about and have opinions about. I was interviewed a few days ago by Brad Inman about blogging and he asked me where I come up with the content for my posts.

 The content for my posts come from happenings in the industry, local interests and news, and my thoughts and opinions about whatever. The beauty of a blog, at least my blog, is that it is purposely not a politically-correct bore-fest of facts and promotion. It is opinion and open dialogue.

I moderate the comments very light-handedly. They are immediately posted and sent to me and I delete comments that are spam, personal attacks, and sometimes just because they are obnoxious.

I’ve had a lot of advice about how I should run my blog. Some say I should advertise on it, some say I should not allow any comments, many tell me that I should be PC and not give any opinions unless they are flattering, and many advise me to post about big things that searched for a lot and link to tons of people. Hearing advice and different opinions has been great. Some of it I agree with and some I don’t.

But I don’t apologize for the way I run my blog. I’m going to have people disagree with me and that is a good thing if it leads to honest dialogue and debate. I’ve had my opinions changed before and I know I’m not always right- in fact I’m wrong all the time and that’s something that I like about blogging.

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There are a lot of people that read my blog from a distance. It’s interesting to me how many agents in the area read my blog but don’t leave comments (at least they don’t comment on the blog- I’m sure they comment about it to people they know). Agents quote lines to me and tell me about things they liked and I had no idea they followed my writing. Usually I had no idea they even knew what a blog was, let alone- they actually read mine. And I’m sure they are some of the “anonymous” comments, and that’s fine by me.

I do think that people should stand behind what they say and include their name, but some people have their reasons for staying anonymous and I’m okay with that. All I want is to further the conversations, get the dialogue out there and allow people to formulate their own opinions and give their two cents if they want. And when I’m wrong and make a fool of myself, that’s okay, too, because at least I’m out here shootin’ away and taking my best shots.

This post was inspired by my main protagonist, Mike Elliott.

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Home Seller Guarantees

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Question:

How can an agent guarantee that your home will be sold in a certain amount of time?

Hint:

It has something to do with price.

     

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We’ve all seen the ads on billboards and in magazines, on bus benches and in the newspaper. Real estate agents who will guarantee to sell your home in __ days or they will (SELL IT FREE/Pay You Money/Buy It)!!

So how can an agent gurantee that the home will sell? Well, let’s think about this.

If you are an agent and you sign a written guarantee with a home seller saying that if their home does not sell in 60 days you will pay them or buy the house, how would you want to price that home?

My guess is that most agents who guarantee they will sell a home price it lower than the top its market potential, to ensure the sale.

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The reality is that nobody can predict the future. A guarantee that a home will sell in a certain time frame is a gamble. Even with all the marketing in the world it comes down to this- they are betting they can sell it in that amount of time. And because they are signing a written guarantee my guess is they might want to hedge their bet by pricing it lower than it normally would be priced.

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Sometimes a home seller needs to sell as fast as possible for some reason. In those cases they will probably be expecting to offer the home at a lower-than-market price. But in my experience, most sellers would rather sell for as much as possible, not as quickly as possible. When I have a listing that sells to the first buyer who looks at it or the first week it is on the market, many times the sellers are wondering if they under-priced it. And I would too. Sometimes the right buyer just happened to see it at the beginning of the listing period, but if I listed my own home and received three offers the first weekend and they were for more than my listing price I might wonder if I priced it low.

I’d rather sell my home for $325,000 in 64 days than $299,900 in 4 days. And I wouldn’t guarantee that I can sell a home in ___ days unless I knew it was priced pretty well for the market and area. Not that everyone who markets this service is under-pricing homes, but I think by guaranteeing a sale, it makes it more likely that they would.

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How about you?

Salt Lake Real Estate Appreciation Rate- 2nd in Nation

Thursday NAR released it’s report showing appreciation rates across the country. Many markets are down from their record highs this last summer. and many markets are still strong- showing again how real estate is very local. National trends do not always apply, and sometimes have no bearing whatsoever with a local market.

Salt Lake ranked as the #2 real estate market in the country for price growth in the 4th quarter of 2006 behind only Atlantic City. Prices in the area have increased, on average, from $182,000 to over $223,000 in just one year.

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Top Ten markets (Chart from CNNMoney)

That means buyers are going to pay an average of over $40,000 for buying now instead of one year ago. And the outlook for Salt Lake is strong in 2007. Buyers who are in no hurry to buy may want to prepare to pay much more as prices continue to grow in the area. Waiting for that “great deal” may end up costing you a lot of money.

New Jersey is suddenly at the top of the list and in the number 3 spot. There must be some price-correcting or good things happening out there on the right coast.

Read more HERE

Top 200 Websites for Your Attention

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Compete.com gives us a new metric for measuring websites- attention. The Compete Attention 200 is a list of the top 200 websites for length of visits.

MySpace, YouTube, eBay- I understand how people spend a long amount of time on these sites, but what are people doing on paypal that takes so long?

Realtor.com is the only real estate site on the list at #66- most of that time is spent trying to figure out how to find the addresses of properties and/or contact info for the listing agents, which, of course, doesn’t appear unless the agents pay for it- and obviously most don’t.

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Hat Tip to Seth Godin

Happy Love Day

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What a wonderful day to take inventory of all the love we are surrounded with. Some people look at Valentine’s Day as a superfluous holiday, not to be confused with the real holidays. Well, when you are truly in love, this is a great day. Not only is this a perfect excuse to pamper your precious other, but it’s fun to see the kids make their little Valentine boxes for school where they can give and receive little notes from everyone in the class, with candy, of course.

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 So, what to get that special someone for Valentine’s Day?

Gift Basket

Candy

Flowers

Dinner and a Movie

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Teddy Bear

Rent a movie and stay in for the night

Jewelry

Pajamas

Weekend getaway

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Poetry

Card

Toys (ahem)

Games

Balloons and flowers to their work

Limo ride to a night out

Spa Day

Lingerie

Proposal

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Love Certificate

Massage

Housekeeping Service

Evening walk holding hands

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Kisses

Eternity Bracelet

Candy-Gram

Wine

Hot air balloon ride

Or I suppose there are thousands of gift ideas. Maybe just being around is the best gift of all. What do you love?

For the history of Valentine’s Day click HERE.

Measuring Distances with your Camera

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iPhotoMEASURE is a software tool that enables you to measure anything in a photo taken with your digital camera.

From their site: iPhotoMEASURE delivers an innovative dimension to accurate and efficient measurement. By simply taking a picture with your camera, you collect all the measurements you need. There is no need for a helper to hold the other end of the measuring tape or take risks on a ladder measuring out of reach areas.  Bring measurements to your computer in a picture.  iPhotoMEASURE software enables you to measure everything you need for quoting, evaluation and appraisal – plus – the measurements are permanently archived for reference. Above and beyond accuracy and convenience is the power of Remote Measurement provided by iPhotoMEASURE. Simply have your customers or associates e-mail you photos of the project, and save critical time and money by not having to go on-site yourself.

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See a video tour of the product HERE. This is a great way to send info to prospective buyers who are out of town and want to know more about the dimensions of certain rooms. (H/T Appraisal Scoop)

Surrounded by A–holes?

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Guy Kawasaki has posted the Asshole Rating Self-Exam (ARSE), created by Bob Sutton from Electric Pulp, at his blog. Sure, many people are, but until they take the exam, they aren’t certified.

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Indexed on Real Estate

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Clever + Fun = Indexed- Check out this blog, it’s a hoot.

Pimping Your Blog

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Blogs are hitting the mainstream. Even in the real estate arena, people are learning about them and are beginning to actively participate in the activity. In five years from now I suspect most real estate professionals will blog in some form, either on their own site, or by contributing to other blogs, which seems to be the new thing.

As blogs grow and gain readership and popularity, many begin to grow in other ways. I am speaking of the vertical growth of these blogs- the expansion of their mission. In plain and simple terms- bloggers are putting a bunch of crap all over the pages to make money and get more interest from the posts of their contributors.

Widgets and plugins have become ubiquitous. Sometimes they are used in good taste and sometimes they run amok. Ads for pens and books, new product announcements, chat room boxes, and award declarations steal the covers from actual content.

Sometimes it’s difficult to understand the navigation on blogs because of all the noise. So the question arises, “Where does it end?” Or does it? Maybe some blogs will become like those collages high school girls make where the sentences are all made from various magazine clippings in myriad sizes, colors and fonts. And each block of letters could be another ad for something or contributor’s entry.

And the worst part of all of this? I don’t know how to pimp my own blog so I have to sit in frustrated admiration of all the others…

January Website Traffic is Strong

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Even in the colder months of winter, the Salt Lake real estate market, historically seeing a seasonal slowdown, has continued to see good growth and appreciation. The local market tends to cool off with the weather and January and February are traditionally the slowest months of the year for sales in the area, but this year the market seems unusually strong.

Our websites have seen very strong traffic in January and the first part of February, with people staying on the sites longer and doing more searches.

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After the holidays and new year, more people began searching online. And the buyers are not just in the Salt Lake area, as only 55% of the visitors to the site were in Utah. Denver was tops among out-of-state cities bringing us traffic, taking the place of usual top cities LA and San Francisco (the left coast always seems to bring people to Utah).

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Buyers who wait until spring to purchase will be sorry they did, as they’ll certainly be paying for their procrastination- literally. The most important ingredients to real estate investing is location, square footage, and timing. And whether looking to buy for the investment or for a place to call home, there’s no use in paying more than you need to.

Where Realtors Really Make Their Money

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Being in the real estate industry for over a decade I’m aware that the general image of real estate agents could be much better. Especially now, with all the people who have jumped into the business in recent years, with its low barrier to entry and all the tape peddlers “self-made millionaires” on the television and radio infomercials. Historically the real estate professional has ranked in polls somewhere in the middle of the pack when it comes to professional trust and integrity from the public.

Poll Question: Please tell me how you would rate the honesty and ethical standards of people in these different fields — very high, high, average, low, or very low?

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(From Gallup Poll)

Being paid by commission and just being a sales profession are both contributing factors, but some wonder about the scruples of agents. There are agents out there working in the field that will not only represent you well and assist you through each detail, but with their expertise, knowledge and experience, will eventually be worth a lot of money to you and your family.

Nigel Swaby of Salt Lake Real Estate Blog wrote a fantastic post recently asking if Realtors can be trusted. An excerpt:

Let me be real direct about real estate transactions: everyone gets paid for their services. In a normal sale the seller gets paid, the real estate agents get paid, the mortgage broker gets paid, the lender gets paid, the title company or closing agent gets paid and the city, county and state get paid taxes. Everyone gets paid.

That’s the way it works. Consider a different transaction like buying lunch at McDonalds. The cashier gets paid, the cook gets paid, the manager, the manufacturer of the french fries, the farmer that grew the potatoes and the city, county and state get paid their taxes. Everyone gets paid.

He also illustrates the point that the real money being a Realtor is not in selling someone a higher-priced home or by trying to get a higher commission on a deal. The money is in the referrals.

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If I surprise and delight one client I will be paid several times from that transaction. Considering the average homeowner moves every seven years I can sell that client’s home and help them purchase a new home three or four times (6-8 transactions). Now, factor in all the people they know at work or church or groups they are in- all the people in their lives- and how every time one of those people begins thinking about buying or selling real estate they will talk about it. They will talk to their friends and their family. They will talk to my client. And now my client will tell these people that they need to call me and they will share their experiences with these people and over the course of a lifetime I may gain another 2-3 clients- all from that first client that I did such a good job for.

If each of those referrals bought just one home with me, that would be a total of 8-11 transactions that I would have as a result of doing a great job for my clients and taking care of them. Now, what if each of those referrals gave me 2-3 referrals? And so on…

This is where the money is in being a real estate agent, or any other service provider. When it comes to personal services, whether it is a landscaper or an attorney or a Realtor- choosing the right person to work with can make all the difference in the world.  In every profession there is good and bad, but one thing I have learned is it’s not the profession, it’s the person.

So how do you choose a good agent? Choose a real estate agent who is a Realtor, which means they subscribe to the code of ethics of the National Association of Realtors, someone who has the experience you want and someone you feel comfortable with. Ask for referrals or testimonials. And ask your agent questions about their experience and how they work so you’ll know whether they are the type of agent (aggressive, easy-going, full-time, busy with business, specialist in a certain area, etc.) that you want to work with. Good agents aren’t going to work with just anybody- they aren’t just looking for a quick buck. They’ll want to work with people who are looking for what they have to offer, people who want to work with them, so they can begin to build a solid relationship with them.

Those are the agents who are successful because they understand where the money really is.

Colts Win Superbowl 27-17

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Okay, it’s not official yet, but here’s my prediction for tomorrow’s game.

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Lehi Soon to Have Utah’s Tallest Building

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Frank Gehry, the Pritzker Prize winning architect, will soon be adding a new splash to Lehi, Utah as he designs an 85-acre mixed-use project  that will feature the state’s tallest building.

The 45-story, five star hotel and convention center will be 220,000 square feet, stand at 450 feet, and will have an estimated 300 rooms.

The project will also include a 500,000-square-foot, 10,000-seat arena, an amphitheater, 2,500 condo and multi-floor residential units, and 1.12 million square feet of retail space. Not to mention a boating lake, a wakeboard cable water park and 61 acres of open space.

“We have some of the world’s greatest natural architecture in Utah. Our buildings will reflect that. Along the walkways, we will have buildings hovering over the water or recess back to reflect the canyons’ structure,” said Brandt Anderson, a Provo-based entrepreneur who is funding the project. “As you look at the development, the first thing that strikes you is the openness of it. The majority of parking will be underground in order to leave more than 70 percent of space open.”

“This is a very unique site,” Andersen said. “And as an iconic piece of property between Salt Lake County and Utah County, it was crucial that we create, and bring in someone who could help us create, a development that would stand as an icon for the state, and particularly for Lehi city. In thinking that, there was obviously no other choice than world-famous Frank Gehry.”

Anderson, who was born in Florida and later attended BYU, founded bank-software business uSight eight years ago, when he was 21 years old. In 2004 Inc. magazine named it America’s #2 company. In 2005 Anderson founder investment company G Code Ventures, which is the investment company behind the Lehi project. Anderson also has pruchased a team in the NBA’s developmental league (name not yet announced), which will eventually play games in the new arena being built as part of the project.

The new project is the latest in a recent-year boom of growth Lehi and the point-of-the-mountain area of Lehi and Draper. Draper will soon have the areas first and only IKEA, which is slated to open this spring.

“We have Thanksgiving Point, Cabela’s, Micron, the Terrace at Traverse Mountain that’s literally a city in itself with 30,000 to 40,000 people, a possible lifestyle center and now, this, a Frank Gehry-designed project. This is the last major location to grow along the Wasatch Front,” Lehi Mayor Howard Johnson said.

Anderson is also trying to get an additional freeway exit added about a mile north of the SR 92 (Highland/Alpine) exit to help ease traffic in the area.