Real Estate Information

Scott Walters Utah Real Estate Blog

Scott Walters

Blog

Displaying blog entries 1-10 of 51

Mortgage corner and July's featured listing.

by Scott Walters

Don't need to refinance...but need to buy?  Get a free home warranty when you use Scott Walters as your Real Estate Agent and Superior Lending as the lender.

Need to sell your home?  July Special:  $500 off the Professional Fee at the time of closing when you list your home with Scott Walters of Best USA Realty.

 

Mava Walters - NMLS #309040

Superior Lending

801-362-7447

Valorie Walters - NMLS #308828

Superior Lending

801-369-2029

Call today to take advantage of super low rates!

 

P.S.

Check out our newest listing in Santaquin by clicking here.  It's a 1937 home on 1.03 acres with 2460 square feet. It has great investment potential.  Click here to view.


 

How to beat other buyers to the best listings!

by Scott Walters

I'm often asked by buyers in this sellers market, "How can I beat other buyers to the best properties?"  With low inventory levels, homes are selling as quickly as they hit the market.  In order to be competitive, a buyer must know the moment a home comes on the market.  Also, a buyer must be receiving accurate home listing information.  Many of the large real estate search sites have outdated listings.  Some large national real estate search websites will post sold listings as being active and available.  To find the most accurate and updated home listing information, I have created a website at www.UtahCountyHomeSearch.com that searches for the latest listings including short sales and bank owned properties and will email them to you.  You will see them before I do.  I can even set it up to email you hourly so that you are sure to be the first to see the newest listings.  The second way to beat other buyers to the best properties is to be sure you have your financing pre-approved before you start looking at homes.  Mava or Valorie with Superior Lending can help you with that (801-362-7447 or 801-369-2029).  A seller is more likely to accept an offer from a pre-approved buyer rather than a pre-qualified buyer.  Contact me here for an explanation of the difference between pre-approved, and pre-qualified.

June 2016 Utah County Home Sales Report

by Scott Walters

Home sales for Utah County for the month of June were a solid 754 units sold.  The average home sold was 2500 square feet and between $250,000-$260,000.  Those homes sold in a remarkable average of 11 days!  The real estate market is as hot as I've seen it and that includes 2006, which was the last time we experienced a strong sellers market.  This strong demand is pushing home values upward.  Curious about your homes value, click here for a free evaluation.

Recently, my wife completed a refinance for a client I sold a home to in 2010 for $202,000.  I recently did an evaluation on their home for well over $300,000.  Valorie was able to refinance them and drop their mortgage insurance and their home payment while still allowing them to get cash out for home improvements.  You can contact Valorie Walters of Superior Lending at 801-369-2029.

Now, for this month's trivia, I told you how many home sales happened in June of 2016.  The person to guess the closest to the number of home sales in June of 2015 for Utah County wins a $25 gift card to Applebees!  Call or text me at 801-361-4860.

To Contact me with any real estate questions feel free to click here.

https://youtu.be/NTs4mplaWZo

P.S.  For a free home evaluation, click here.

How much home owners insurance coverage do I Need?

by Scott Walters

Q. How can I figure out how much insurance coverage I need to protect myself if my home is ever destroyed?

A. Over 70 percent of homes in the United States are underinsured.  And, of those homes, 70 percent are underinsured by at least 30 percent.  This is a major problem!  The confusion between market value and replacement value is where many of these problems originate.  Many people base their insurance coverage on the market value of their home.  Market value is what a buyer will pay for your property, but this is irrelevant if your home is destroyed.  What you should really be basing your coverage on is replacement value.  This is much more complicated to compute. 

When computing replacement value you must figure in all of the costs of rebuilding your home.  This is often 20-30 percent more than new construction because of the added demolition and removal costs.  Once the land has been cleared, you will need to add the cost of actually building your home by multiplying the square footage by the average cost per square foot.  You can find out average square footage costs from your local builder’s association or builder’s union.  Then, you need to add in additional money for upgrades and improvements that you have made.  Also, check your local building codes because changes in codes since your original home was built can cost a bundle when rebuilding.  In some cases, it may cost even more to rebuild your home than the market value.  This is often the case in run-down areas where land values have fallen.  In any case, don’t just base your homeowner’s coverage on the lender’s requirements.  These often only cover the mortgage balance leaving you with nothing.  If you are thinking of selling or buying soon, and require competent and caring representation, please call Scott Walters at 801-361-4860.

Best USA Realty

Loafer Canyon land for sale

by Scott Walters

3.3 acre lot in Elk Ridge, Utah. Incredible recreation property or a fantastic place to build your dream home. This lot borders both Elk Ridge and Woodland Hills, so there may be a possibility to annex into either city.

Fantastic 5 Bedroom Salem Rambler!

by Scott Walters