Holladay

1. WHEN YOU HAVE YOUR HOME FOR SALE, DO YOU ONLY WANT SERIOUS BUYERS LOOKING?  (People who look for a home during the Holidays are more serious buyers!)

2. ARE YOU INTERESTED IN GETTING AS MUCH MONEY AS POSSIBLE FOR YOUR HOME? (Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!)

3. YOU DON’T…. WANT TO LOSE MONEY ON THE SALE OF YOUR HOME DO YOU? (Since the supply of listings will dramatically increase in January, there will be less demand for your particular home!  Less demand means less money for you!)

4. DO YOU DECORATE YOUR HOME FOR THE SEASON?  (Houses show better when decorated for the Holidays!)

5. WOULD $3K, $4K, OR MAYBE EVEN $5,000.00 EXTRA FOR YOUR HOME INTEREST YOU?  (Buyers are more emotional during the Holidays, so they are more likely to pay your price!)

6. WILL YOU HAVE EXTRA TIME OFF WORK OVER THE HOLIDAY SEASON?  (Buyers are just like you -Buyers have more time to look for a home during the Holidays than they do during a working week.))

7. ARE YOU AWARE OF HOW MANY NATIONAL AND INTERNATIONAL COMPANIES ARE IN OUR AREA? (January is traditionally the month for employees to begin new jobs.  Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market).

8. IF YOU COULD SELL YOUR HOME WITHOUT THE INTERRUPTION OF SHOWINGS DURING THE HOLIDAY, WOULD YOU SELL IT? (You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!)

9. ARE YOU INTERESTED IN SELLING NOW AND ONLY MOVING AFTER THE FIRST OF THE YEAR? (You can sell now for more money and we will provide for a delayed or extended occupancy until early next year!)

10. DO YOU KNOW HOW THE LAW OF SUPPLY AND DEMAND CAN BENEFIT YOU? (By selling now, you may have an opportunity to be a CASH buyer during the Spring when many more houses are on the market for less money!  This will allow you to sell high and buy low!)

Showing real estate in Holladay is really becoming a challenge since the roads are still under construction.  The City reports they will be completed by the end of October, however; there will still be on going work on the sidewalk sections through November.  A client was asking me why all the changes?  I believe the main reason was to improve the traffic flow and to create a safer community.  The roadwork will create a friendly environment for the neighborhood and businesses.  I love walking my dogs and taking my grandchildren on walks.  You can stop at Rite Aid for most anything.  The kids love to walk to Baskin Robbins or to Apollo Burger for treats.  I am excited to see the new business move in to our area.

To help our community look better, the City has again arranged to have the Leaf Bag Program.  You can deliver your leaves to the following locations (remember only leaves)

Canyon Rim Park – 3100 E. 3100 S.

Cottonwood Ball Complex – 4400 S. 1300 E

Holladay Vacant Lot behind the fire station – 4624 South 2300 East.

To learn more about the City of Holladay you can visit www.cityofholladay.com

Be sure to send me your questions

This weekend I was showing homes for sale in the Holladay, Cottonwood area.  It was difficult because of the road construction and yet I know that when this is complete, it will make our community better.  The buyer wants to live close to the mountain and canyons because of the great recreation.  Did you know that you can purchase a home in Holladay in the $200,000 range?  It has never been more affordable or desirable.

I was visiting with this buyer about the advantages of Holladay.  Not to mention the proximity to the mountains and to the freeways for commuting to work.

Some of the wonderful things about Holladay are the small town feeling.  I needed some cheese and bread for dinner on Saturday and stopped by The Store.  Remember when that use to be Kathy’s Ranch Market.  What a unique grocery store that was.  The Store has some similar qualities as it has unique produce and a great meat market.  As I was standing in line to check out there was some fresh bread… and I couldn’t resist.  Wow it was delish!!!!

Then as I thought about the gas station up from the Post Office, it has changed names several times and yet it is still the same.

I think that when we think of our home in Holladay, we think of a small town.  The schools are highly rated and this is another reason we want to live here.  My grandchildren have all gone to the Holladay Pre School.  It amazes me that you have to be on a waiting list before the baby is born.  Now that is demand!  If you don’t know about that pre school, email me and I can get you the information.  My daughter is on the committee for fund raising.

Don’t forget about our little community movie theater.  You can always find the latest movies without the lines.  After enjoying a movie, you can go across the street to the Normandie Café.   What delicious treats they have.  My good friend Janet owns this.  She is the Martha Stewart of Holladay.  Normandie’s hours are Monday – Thursday 7 a.m. – 9 p.m., Friday and Saturday 7 a.m. – 10:00 p.m.  It is open for Brunch on Sunday from 9 a.m. – 3:00 p.m.

If you know of anyone needing to purchase real estate or who needs an investment….Holladay is a great place to invest.  Be sure to tell them about the small town feeling and the potential for appreciation.

Please send me your comments.

Why do people love Holladay and why do they feel the desire to live here?

Here are the comments we received:

*Great schools
*Beautiful trees & foliage
*Small town feel
*Proximity to downtown
*Neighborhood Theater
*Normandy Café
*Meier’s Chicken
*Holladay Preschool
*Quiet and Convenient
*Diversity in Age
*Income Level
*Political Views

Micheal Coombs said “It’s a quiet little town nestled in the morning shadow of Mt. Olympus. It boasts of the Cotton Bottom and its World Famous Garlic Burgers, Gephetto’s Pizza, The Cottonwood mall and OH least I forget… the trees are lovely!”

Michael Groscost said “Holladay Music and the dancing and singing studio on the corner of Verns.”

Spence Bowthorpe said, “Holladay is my home and my family’s home for generations. My great grandparents settled here in the early days and I have spent my life here. Grandpa used to have a fruit stand on the corner of Holladay Blvd and Arbor Lane. During my childhood we sold fruit from the stand on Valley View.  Lots of relatives still around. This is a beautiful place. Just love it!”

Overall the census was the trees and foliage.  If you have comments about the Holladay area, please leave them I would love to hear from you.

For more information on the beautiful city of Holladay, UT please call me at 801-277-5445.

Is Our Real Estate Market in Holladay still declining?

There are 274 active listings in Holladay

30 have offers pending, not yet closed

25 actually sold and closed in the last 30 days

78 properties were listed in the past 30 days

The statistics are the indicator in our market.  It looks like we are still declining.

If you need to sell, pricing will be very important and the condition will also be important.

The good news is that there are still buyers who need to buy and Holladay is always a popular place to live.

If you want more information on our market, please email or call me.

Did you know you can purchase a Home Warranty without purchasing a new home?
Since Holladay homes are typically older, you may want to consider purchasing a Home Warranty.
Your home is most likely one of your largest investments. Unexpected repairs or replacement costs can easily strain your budget. Finding an approved and insured contractor to solve your problem can be stressful and inconvenient. A home warranty cannot prevent systems or appliances from breaking down, but it can help make covered repairs or replacement easier and less costly.

A home warranty offers the following benefits:

1. Protection from potentially huge, costly covered system or appliance repair and replacement bills. Just one event could literally wipe out your hard-earned savings.
2. A typical homeowner requires service about 2 times per year-you will simply pay a nominal trade service call fee for each covered repair or replacement.
3. You do not have to search the Yellow Pages for a qualified technician or contractor. You will enjoy quality service from a network of carefully selected professionals.
4. System and appliance failures are never convenient. You can call any time to request service. Typically they are available 24 hours/day, 7 days/week.
5. Repair or replacement coverage. They will replace covered items that fail when they determine they cannot be repaired, regardless of age, make or model!

If you are considering a home warranty please give me a call for more information.

Even with all the trees in Holladay City, here is some helpful information you may want to consider:

• Keep curtains closed when temperatures are at their peak.
• Use exhaust fans when cooking to remove excess heat and humidity.
• Close registers in rooms that are not being used.  To avoid damage to your central heating system, close no more than one fourth of the area of your home.
• Caulk and weather-strip all windows to close any air gaps.
• Set your thermostat at 78 degrees.
• Close the flue when your fireplace is not is use. Turn off pilot light on gas fireplace.
• Move furniture away from vents, registers and radiators.
• A ceiling fan only uses about as much energy as a 100-watt bulb, but it can make a room feel up to eight degrees cooler. In summer, blades should turn counterclockwise, pushing air downward to create a cool breeze.
• Switch from incandescent bulbs to Compact Fluorescent Lamps (CFL’s) as 80% – 90% of the energy consumed by incandescent lighting is wasted through heat. CFL’s will also save you money in electricity.
• Plant trees around your house to provide a shade buffer between the sun and your walls.
• Lights, computers and televisions all generate heat. Turn them off when they’re not in use and you’ll save twice on your energy bill.
• Temperatures in an attic can reach 150°F on the hottest summer days. Consider a thermostat-controlled attic fan to release superheated air and keep your entire house cooler.

Air Conditioning

• Replace filters monthly during the hot summer season.
• Have annual system maintenance service done before the air conditioning season begins.
• Keep condensing unit free of debris.

The Salt Lake Board of Realtors reported in June that one out of every seven homes listed for sale or under contract in the Salt Lake County is a short sale.

The number of short sales today is about double from what it was a year ago.

The president of the Salt Lake Board of Realtors, Ryan Kirkham said “Short sales can offer good deals for buyers, but it can take several months for a bank to approve a short sale.  Buyers interested in purchasing a home in a short sale should do their homework by investigating the financial situation of the seller.  Make sure that the seller and his/her agent have already talked with the lender.  Ultimately, a short sale must be approved by the lender.”

Below are some questions and answers regarding Short Sales:

Q:        What is a short sale?

A:        A short sale in real estate occurs when the outstanding obligations (loans) against

a property is greater than what the property can be sold for.  Short sales are a way for homeowners to avoid foreclosure on their homes and still be able to pay off their loan by settling with lender.

Q:        How long does it take?

A:        From 3-5 months typically

Q: Why do Banks Reject Short Sales?

A:        Banks demand a plethora of documentation before approving a short sale. Contrary to popular belief, sellers do not need to be in foreclosure or have fallen behind in making mortgage payments, for a short sale to occur. Here are reasons that banks turn down short sale requests:

-  Short sale offer price is too low

-  The short sale package is incomplete

-  The seller or buyer do not qualify

-  Bank sold the loan

Q:        What is the disadvantage for a buyer on a Short Sale?

A:        There are several reasons:

1.      Home is sold in as-is condition.

2.      Buyer is not guaranteed the purchase until all liens and loans are approved which means the buyer’s interest rate could go up and ultimately the home may still go into foreclosure.

3.      Buyers usually find a better home which is not in a Short Sale situation for the same price or lower.

4.      The listing agent typically lists the home for a much lower price than is approved by the bank.  Therefore the buyer gets a false idea of a lower value. By listing it much lower than market value creates multiple offers and will continue to attract more buyers making the buyer with the offer lose the home.

At Cindy Wood Realty we have successfully closed several of these transactions.  Be sure the agent you choose, when buying or selling a home in a short sale has experience in the process.