Have you asked yet what is happening with the Real Estate market?
I was asked my opinion about land sales in Wasatch and Salt Lake Counties, so here is information from the WFR MLS showing what has happened in the recent past compared to one year ago.

Wasatch County (see the attached graph), since January this year has seen a consistent decline in land closings. Compared to Jan-April 2019, only January saw more land closings, with over 4x the number this January than in January 2019.
Land listings in Wasatch County, have had consistent increases each month this year with each month outpacing the same time period of 2019.

Salt Lake County land closings started the year with huge increases in January & February; in April closings tanked.
Same thing with new land listings in Salt Lake County which were strong January through March and then tanked in April.

So what is going to happen next?
If May doesn’t have a big rebound in Wasatch County closings, I believe it will be June and I don’t see an end to the hot market in the #WasatchBack. I believe we will see more large land sales with the intent to subdivide.

In the past two months, we have received more calls than normal from out of state buyers looking to purchase land. The majority have only wanted land for themselves, however, we have also received more calls with requests to see land which may be subdivided.

I believe land sales will take longer to rebound in Salt Lake County, however, barring some other catastrophe, like an earthquake, I believe that sales will pick up within 3-4 months.

Three of the largest projects that will continue to effect land sales in the Salt Lake Valley is the new prison facility (over budget), the airport expansion (over budget), and the new Inland Port (not yet over budget). A lot of additional smaller projects and the need for employees will continue to make for a strong Real Estate market in I believe.

We also consistently hear comments about how much people are paying in taxes in the state they live in and that Utah’s taxes are so much better. I hope we will keep fiscally conservative people in government and be wise with our taxes and regulations.

Adding to our ‘Curb Appeal Helps Seal the Deal’ series one of the most important things to consider in the new build or remodel of your home is your front door and porch. We all want to get enjoyment and comfort from our outdoor spaces, so take these ideas to create a front porch you will love while you occupy your home, and when it comes time to sell your home, a front porch, and door which will appeal to the greatest number of buyers. You want such high and enticing curb appeal to your home that buyers will look past other areas that may be detrimental to your home setting, either outside or inside.

These 5 inter-related ideas will help you get the end result you want.

1. Budget

Within the overall budget for your new home being built or if you are only doing a focused porch and front door remodel, the first thing to do is set your budget. It is estimated by Discover Home Equity Loans that the average front porch remodel, for an existing home costs approximately $21,000.00. We have seen estimates as high as 85% return on the cost of a front porch investment. So put a budget together and we recommend doing a separate budget for your front porch from your front door. Consistently buyers talk about front porches that are laid out well, are comfortable, have plenty of room and look good. The budget for your front door will include additional value items such as sidelights, transom windows, matching additional porch windows, lighting, trims, blinds, etc.

2. Materials

The next item to work on after you have your budget is the material’s that you want for your front porch and door. You may want to talk with your contractor or if doing it yourself, there are tons of websites that cover the pros and cons of different porch materials such as wood, concrete, tile, composites, etc. Same with your front door and windows there are a lot of different door materials such as wood, fiberglass, steel, or glass, to jamb and molding materials of wood, aluminum, vinyl, fiberglass, etc. Determine what materials you like the look of first, then what materials are most likely to fit into your budget best. Then as you start adding in the cost of labor and material you will adjust the materials or your budget as needed and as you are able.

Two things that can add quite a bit of value as you consider your materials. First is the size of your porch. Remember this is for a front porch only – a back porch is another subject. The average size we see that appeals to most people is a depth of approximately 6′ and an average length of 10-12′. Second is only if you have a basement – if possible extend the footing & foundation to include the porch and make the room under your porch a cold storage room or add a safe door for a vault storage room.

3. Environment

Where do you live? What is your environment like? Is there humidity? Are you in a high traffic area? Are you facing north or south? These will impact you for example if you are north facing and live in a cold climate you may want to put a heating element in the floor to melt any snow and ice or add windows to keep snow off. If you get a lot of traffic in and out your front door you may want a steel door which will hold up better. If you are south facing and have hot summers you may want to install ceiling fans. Consider your environment and the type of materials to work with for the most comfort and value.

4. Security and Accessibility

Studies have shown that most forced entries are through the front door and it is typically not because of door failure, it is because of deadbolt or lock failure. What is recommended is to have at least a 1-inch minimum depth for your deadbolt and that the screws for the plat or deadbolt insert go all the way through the door jamb and into the jamb stud. One more thing about security is to have an organized porch. Don’t let things stack up and allow clutter where someone who shouldn’t be there could easily be hidden. Movement activated lights will also increase the security of your front porch.

Some forethought is also good when it comes to accessibility. Is your porch wheelchair accessible or could it be reconstructed easily to be wheelchair accessible? The height of your porch, where you locate any steps and what type of railing and where you put it is will also affect the security and accessibility.

5. Color

When choosing a color for your door, porch railing, trims, lights, etc think about the type of audience you want to draw to your home. You want your curb appeal to be appealing to the largest group of possible buyers. If you choose to use unique colors or unique items, you may reduce the pool of interested buyers. There is definitely a range of unique items so check with your realtor and see what is most appealing in the market.

Get with your contractor early on and your realtor even earlier to get helpful ideas – pinterest is great, but a living breathing contact is a great way to discuss options.

Contact me for more information and for all your Real Estate needs.

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