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New listings

New listings so far this week are a Cove area residential lot .23 acres, city utilities in street, Nice east side views. $45,000 or best offer. Lots in this area are typically $80,000 and above. ID# 69594 A five acre country location parcel with water rights! Animal rights. Located in Enoch, $45,000. ID# 69589 A cute country home with animal rights located in Enoch, $148,999. Call Rich to see, 435-559-3722. ID# 69587 Visit staging.cedarcity-realestate.com

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Cedar City Home Warranty

When buying a home, particularly an older house, buyers are often understandably concerned about the potential need for expensive home repairs in the future. Home warranty programs, such as the ERA® Home Protection Plan®, are available to buyers and sellers to help alleviate this concern.

Home warranty programs offer protection for the seller and buyer, covering most major repair or replace expenses within a home for up to a year or more after closing. With this added sense of security, it is easy to see why houses covered by home warranty programs on average sell faster than comparable homes without any such protection.

If you are interested in learning more about the ERA Home Protection Plan I would be glad to provide you with additional information.

Real Estate Retirement Options

REAL TALK: Age in Place or Find a New Place?

At some point you will need to decide where you will spend your golden years. It’s never too early to start pondering your housing options. Your personal needs and desires should both play a role in the decision that you make because retirement is your time to relax and enjoy.

Remaining in your current home is one way to spend your retirement. This way you can continue to live in familiar surroundings. In a recent poll conducted by Money magazine, this was the most popular option among baby boomers. Some experts have termed this “aging in place.”

You might, however, feel driven to age elsewhere. Retirement is an ideal time to relocate since there are probably fewer things tying you down compared to other stages in your life. In the same subscriber poll, moving in order to live closer to adult children was baby boomers’ second most popular retirement choice. Please feel free to contact me by phone or e-mail for help with any of your real estate needs. Also don’t hesitate to refer me to anybody you know who may be looking to buy or sell a home

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Real Estate Going Green

Here are some trips to fight power drains. A. ensure you are purchasing consumer electronics branded with the Energy Star logo and have been tested to be so. B. unplug some gadgets when you’re not using them, especially for extended periods such as vacations. C. New power strips available that can cut off electricity to some outlets while keeping power to others. Lastly, set the air conditioning to 75 when possible.

Solar power is on track to supply household electricity at the same cost as power from the electrical grid, the federal government says. The improved technology, cost of generating power from roof to solar panels should drop from 21 cents per kilowatt hour last yr. to 10 cents in 2015. That’s the same rate households are paying for power today.

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Buying Cedar City Real Estate Vs Renting

Those who have never owned a home before often ask about the benefits of owning over renting. While paying mortgage payments and property taxes may seem like an expensive and stressful proposition over the near worry-free lifestyle of renting, these expenses actually provide great financial benefit for homeowners.

When you rent, every dollar you pay is retained by the landlord. However, when you purchase a home, a portion of each monthly mortgage payment is used to pay down the principal amount of the loan and in return increases your equity in the property. In addition, you can offset much of the cost of property taxes and mortgage interest through allowable tax deductions. Finally, by owning a home you may also increase your equity if the property appreciates in value.

For specific information on the financial and tax benefits of buying compared to renting, contact your local financial or tax consultant.

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Cedar City Real Estate Mortgage Choices

Nearly all home buyers need to secure a mortgage when purchasing a home. There are varieties to investigate. Some can assist you with closing costs and 100% loans can also be applied for. all can be discussed with your lender of choice to make the best decision for you.

While there are countless variations, most common mortgages can be categorized as either fixed or variable. Fixed mortgages offer the same interest rate and monthly payment over the life of the loan, while variable mortgages offer adjustable rates or payments. ARMs (Adjustable Rate Mortgages), the most popular variable mortgage option, offer a lower-than-market interest rate to provide buyers financial flexibility initially during the mortgage, with the tradeoff being the potential for higher interest rates and monthly payments later on.

Nearly all home buyers need to secure a mortgage when purchasing a home. Today, there are a wide variety of mortgage options available. Taking the time to discover the best mortgage product for your needs can offer great rewards in the long run.

While there are countless variations, most common mortgages can be categorized as either fixed or variable. Fixed mortgages offer the same interest rate and monthly payment over the life of the loan, while variable mortgages offer adjustable rates or payments. ARMs (Adjustable Rate Mortgages), the most popular variable mortgage option, offer a lower-than-market interest rate to provide buyers financial flexibility initially during the mortgage, with the trade off being the potential for higher interest rates and monthly payments later on.

Paying points down to lower your mortgage payment

For buyers who are interested in getting the lowest monthly payment possible, paying points on your mortgage is one option to consider. The term “point” refers to 1 percent of the total mortgage loan amount. Most banks and lenders will allow buyers to lower their interest rate a particular amount for each additional point they pay at closing.
If you have the available money and plan on staying in the home for more than a few years, paying points can be a financially rewarding option. Like interest, the money paid in points at closing may be tax-deductible. Most importantly, paying points offers some breathing room with your monthly expenses.

If you are interested in learning more about mortgages, I would be glad to provide you with additional information.

P. M. I.

Potential buyers who wish to purchase a home but can’t afford a large down payment, may want to look into private mortgage insurance. Private mortgage insurance, or PMI, is designed to protect the lender against default while allowing buyers to obtain a loan while putting down significantly less than the standard 20 percent.

The borrower pays a premium for PMI coverage, the amount of which is determined by the type, amount and length of the loan. The premium is usually either worked into the monthly mortgage payment or paid as a lump sum at closing.

Please feel free to contact me if you are interested in learning more about mortgage products or any other real estate information.

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Spring Spruce Up – Tips For Selling Your Cedar City Home

I hope you’re getting outside to take advantage of the warmer weather and sunshine. With summer just around the corner, I thought you might like some ideas on how to keep your new home cool and comfortable, and make the outdoors just as inviting as the indoors. I’ve always found that rolling up area rugs will open up and lighten the rooms. You can replace heavy comforters with lighter weight bedspreads in cooler colors to really welcome the summer. Be sure to check that ceiling fans and air conditioners are working and that your screen doors are in good shape to weather those balmy days ahead.

Spring and summer are the perfect times for painting or remodeling since you can let the fresh air right in. Don’t be afraid to use bright colors for both indoor and outdoor accent pillows, table cloths, candles, pictures, dishware or other accessories. You may also want to consider adding some new outdoor furniture to give your new home a fresh look for the summer. I’m sure you’ll plan on doing a lot more outdoor living, cooking and entertaining. Smaller spaces are not a problem – you can simply use colorful potted plants to create a beautiful outdoor living space in a small garden or courtyard. If you have a deck, you may want to give it a fresh coat of paint or stain, and if you have a pool, you’ll want to remember about maintenance so you can enjoy it all summer long.

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Staging of a Nation, from South to North – Cedar City Home Selling Tips

Cedar City Home Selling Tips

Homeowners these days need the best price for their property, regardless of where they live. Statistically, 78% of potential buyers make their decision about a house even before they actually visit it. Once inside, the first few seconds a buyer has made their choice on the home. Here are the latest tips for staging. Keep the exterior tidy, including putting trash cans out of site. Keep shrubs trimmed, repair walkways.

  • Freshen up the interior. Neutral, subdued paint is a good, inexpensive option.
  • Light a fire, for a warm cozy feel in the winter months.
  • Keep mudrooms neat and tidy.
  • Install storm windows for the cool months and screens for warmer.
  • Make every room count. Put an air mattress on boxes and cover it with comforters to turn an unused room into a bedroom.
  • Create a blank canvas. Remove children’s artwork, personal photos, trophies and other person items.

Bottom line is buyers are not interested in how sellers live, they want to envision themselves living in the home.

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Tips On Owning Rental Property in Cedar City

Rental Property in Cedar City

Consider the Tax Advantages of a Rental Property in Cedar City

Owning a rental property whose rentals truly cover out of pocket costs still affords you a potential profit from tax breaks and any appreciation. The tax advantages of owning a rental property may include:*

  • Maintenance and repairs
  • Depreciation
  • Other expenses
  • Losses (within specified limits)

* For illustration purposes only; consult your tax advisor for specific tax advantages.

Shop for Financing

Financing a rental property is typically more costly than for your primary residence, so it pays to shop around. Lenders typically require down payments ranging from 20% to as much as 40%, and rates may range from one to two points higher than for an owner-occupied home. Lenders usually consider a percentage of the total current rental income when calculating how much they’re willing to lend; if you’re buying a vacant property, you must qualify for financing without factoring in rental income.

Some alternatives to traditional lenders include lenders who specialize in financing rental properties and owner financing from the seller of the property. If you plan to purchase a multi-unit dwelling and plan to occupy one of the units, you may qualify for more favorable terms on your financing.

Regardless of the financing you choose, be sure to retain sufficient cash reserves or available line of credit to cover contingencies such as repairs and vacancies.

Shop for Tenants

This is serious advice; choose your tenants every bit as carefully as you chose your rental property. Delayed payments, non-payment and eviction proceedings will take a toll on your return, your peace of mind and on your good tenants.

When considering prospective tenants, ask questions, verify all references, and run a credit check and a search for previous evictions and other evidence of legal troubles. Follow up with the current and previous landlords, but do not take glowing recommendations from a current landlord (particularly within the immediate area) at face value.

As an additional check, put the Internet to work for you and ensure that all phone numbers listed by prospective tenants match the directory listings.

To succeed as a landlord, you must also educate yourself when it comes to applicable landlord-tenant laws and regulations. Seek the advice of a professional when it comes to drawing up rental agreements and at the first sign of a dispute with a tenant; it’s excellent insurance for avoiding a lengthy and much more expensive headache in the future.

In Summary: The Keys to Rental Success

Do your homework, seek sound advice from a real estate professional, select the right rental property at the right price, choose tenants carefully, plan to be in it for the long term, and you’re likely to find that all your hard work will produce a very satisfying result. Who knows, it may even set you off on a whole new career!