This building in MillCreek is going to be available for lease. Adam Von Maack and I listed and sold the lots to a developer. Millcreek is one of the hot upscale markets in greater Salt Lake City.
As other communities south of Salt Lake City were incorporated in the 1990s and 2000s, Millcreek remained as the most populous unincorporated area of Salt Lake County. Residents considered a number of options for their future, including incorporation, which would make it the county’s fifth-largest city. Amalgamation with neighboring South Salt Lake was also proposed, which would have combined South Salt Lake’s commercial and industrial base with Millcreek’s heavily residential character, creating a city of over 80,000.
The incorporation of Millcreek was the subject of a contentious 2012 ballot question, which set the boundaries of the proposed city identical to that of Millcreek Township, and asked voters what form of municipal government should be implemented. The initiative failed with only 40 percent of the vote, leaving Millcreek under the jurisdiction of the Salt Lake County Mayor and Council, as are other unincorporated areas of the county.
Despite the failure of the initiative in 2012, the question was put on the ballot again three years later, and Millcreek residents voted for incorporation on November 3, 2015. In the 2016 election, residents voted for a mayor and city council members in advance of incorporation, which was recorded at 9:30 a.m. on December 28, 2016.
I have a strong commercial background and partnered with Adam Maack to assure my client selling the property that there were two strong agents working in their behalf.
This has resulted in being a wise move as the speed in which we sold these lots, and at a satisfactory price, opened up us marketing several more properties for these principles. Properties in Ogden, Sandy, Hurricane, Heber, Idaho Falls, Price, with more coming.
This building in MillCreek is going to be available for lease.
About Larry Cragun Windermere Real Estate I write this post to share why I believe I am a great choice for you to use to find your home or condo. Thus the title Why Larry Cragun Why Windermere Real Estate.
I have over 30 years of experience in this industry, including owning one of the largest mortgage companies in Washington State, which I sold prior to the housing crash. Understanding financing is a big asset for my clients.
My approach is to serve, be on top of all details, use every tool available, be there in all your needs, and have a soft approach to help people find the right home. It to me is a treasure hunt.
Last year I closed on a condo in Governors Plaza. The buyer came to me off of my website: http://ItsGreatInSaltLake.com/ She had been doing research and as I mentioned the condo product that was available out there she seemed to know they weren’t what she was looking for. She mentioned that she really liked Governors Plaza. Nothing listed matched her wishes. So I went to work looking for something not currently on the market and found the right one. It was perfect for her. It took a bit of price negotiating with the seller but all went down just fine.
This buyer is another example of my approach to this business. She was defensive when we first spoke on the phone. She had talked with other agents she felt were high pressure, were trying to immediately lock her down as their client. Sensing this resistance I shared my philosophy, “if it isn’t working between us, no problem”. I won’t try and contract you with a buyers contract, except when we make the offer and it will only be on that specific property, which contract is required by Utah law. Mutual respect is the rule I try and follow and look for.
Windermere, like no other: If you are serious about the luxury market you will come down to two brokerages to consider. A comparison will put Windermere as #1, I am convinced of this fact.
In Utah I was licensed with MediaOne Real Estate, a subsidiary of The Salt Lake Tribune and Deseret News. In January 2018 we learned that Windermere Utah had purchased MediaOne Real Estate. At first I, as were my colleagues, was extremely concerned about what this meant for us and our clients. The concern quickly turn to excitement. Their marketing power is unlike any brokerage I have been licensed with in my entire real estate career. I began to realize that I had more to offer to buyers and sellers than before, and in fact I suggest I have more to offer now than my competition. Take for example the Matterport Camera Windermere just purchased. It provides the current internet shopper, which are the majority of shoppers the ability to actually walk through the home on line, with a beginning overhead view of the floorplan. It is amazing. I am currently scheduling filming with each of my listings to include a Matterport show for my sellers. List with me and you will have a fabulous tool to share, and for me to market with. It is at a cost to me, but man is it worth it. Here is a sample: . https://my.matterport.com/
There is much more. New marketing announcements come often. If we meet I will share many other things we have at our disposal for you, such as the Living magazine Windermere publishes to high end and other targeted potential buyers.
To buyers, besides Matterport, besides our terrific search on my site, I have special tools to assist you. For example neighborhood news advertised at the bottom of my website. Subscribing here will provide you a monthly report by zip code of every on home or condo on market, under contract, and sold in that zip code, that month. You receive that report as long as you desire. Pretty cool for sure.
My partner and wife, luxury is her game. :
The not too long ago photo includes my talented wife Kathleen. She is an important partner in my real estate practice. She has been an award winning and magazine published interior designer during her business career, and considered to be the best designer in whatever firm she worked for or whomever she performed her magic for. She brings to my clients an important eye on how to best present your home for sale. She is an important second opinion on home values, understanding that value is based on more than the square foot of the home. Having Kathleen as my partner is your asset. She’s also the boss.
I am a leading Condo expert:
Selling condominiums is not like selling homes. Their are sometimes hidden risks not all agents can spot. An important issue is what does FHA think of the property. Is it FHA approved? If not why not? There are many things to understand and many things an agent needs to help you evaluate. I am good at this.
I love helping people with their real estate needs, as do most in this business. It’s a very satisfying career and I am glad to have come out of retirement to enjoy it again. I am pretty state of the art with technology, started a dotcom, am about to have a company publish an app I designed, and am grateful for finding a cool niche in Utah. I look forward to assisting some of you.
The good things we do with part of each of our sales is another thing we are proud of.
Luxury Real Estate Is Where We Are Unmatched. Add our design and lengthy experience to the mix: Winner!
When you place your luxury home in the hands of a real estate agent, and company, you likely expect an extreme world wide and highly visible marketing effort. The kind of effort than can cost up to $10,000 to get your home sold. You expect the agent to do the best job possible.
This would include world wide exposure. Windermere has an unmatched package for you:
- We are Utah’s exclusive Christies International Real Estate affiliate.
- We are Utah’s exclusive affiliate in Leading Websites Of The World.
- We are Utah’s exclusive affiliate in Luxury Portfolio International.
- Our Premier Properties marketing program is extensive:
- Click here for a presentation that will help you get the picture on why us.
Here is a real plan if this is you; you are 62 or Older and Still Kicking It? Also, it’s a plan if your current home isn’t your dream home and you want to have that dream home. Are You 62 or Older and Still Kicking It?
I live amongst a lot of retirees. Some have packed it in and some are still kicking it. Which are you?
There is a way to move up in style without breaking your bank. Here are a few qualifying questions:
- Is your home free and clear, or almost free and clear?
- Would you like to move up to a dream home if you didn’t have to make a mortgage payment?
- Are you willing to let the government (FHA) participate in a plan such as this?
The big question is will you let me explain this with an open mind on your part? If you are a regular follower of mine, like one person called me, her friend in the computer, you will know that I have a strong background in both real estate and mortgages. You may have also discovered that I owned one of the largest mortgage companies in Washington State at one time. I also owned a residential real estate office. Also important to this message is that last October Kathleen and I took advantage of this program.
I will illustrate the concept below with my own non artistic efforts.
These four homes are all either homes sold or currently on the market by our company, Windermere Real Estate. The home labeled as “current home” above could be traded for a dream home, similar to the others in the photo. Yes, you could trade up from the current home to one like these. If you are intrigued, don’t let self talk or talk from others prevent you from investigating.
These other three homes are or were priced between $549,900 and $599,000. The illustration above could be captioned trade your current home for a dream home. The current home being free and clear is probably comfortable. Were it yours would you have liked it to be bigger, newer, or nicer? This FHA program which I am so familiar with would provide something similar with no new mortgage payment. It is for seniors over 62 or older. The benefits are different for those of different ages.
Dream home? How is this for some write ups?
The home on top: Come and see this well kept fully finished rambler in a quiet neighborhood in South Jordan. This home features an open floor plan with large bedrooms. The front room can be either formal living or formal dining. The basement has a full kitchen, living room and separate entrance. In the spring enjoy barbequing on the patio in the backyard. Newer carpet with upgraded pad throughout. Needs a little updating. Pool Table in the basement is included.
The home on the right:
|Beautiful rambler with many upgrades! Granite countertops with large kitchen island, knotty alder cabinets with soft close drawers, large open great room with gas fireplace, crown molding in formal living room, main floor laundry. Master bedroom with master bathroom which has a large corner soaking tub and separate shower. Finished basement with large game room, two more bedrooms and a full bathroom with lots of storage space including a cold storage room. The yard is amazing and has secondary pressurized irrigation water, a large covered patio, a workshop, a large RV parking area on the side, vegetable garden, fully fenced with plenty of space. The roof is architectural 30 year shingles, high efficiency furnace, central air. Close to shopping, schools, parks, and easy access to highways. A must see!|
The home on the bottom:
Wow, Million Dollar View, with 1 Acre of Horse Property. Nestled above “The Cove” in Herriman. Next to hiking trail that will not have any homes built on it. Enjoy country living while living close to city amenities. Wonderful 2 story home with plenty of space. 2 Master Bedrooms, Beautiful gourmet kitchen with Viking stove and custom cabinets. Huge master bedroom with separate sitting room. Landry room up and down. Mother-in-Law apartment in basement with separate entrance. Over sized 2 car garage with tons of cabinets for storage. Several fruit trees in orchard by the giant garden. Another acre is available. Home is on a well with 1 water right available and city water stubbed.
I titled the post as “Are You 62 or Older and Still Kicking It? If the answer is yes, lets kick in gear your dream home. It only take a little time and a lot of open mind to get this done.
Our residence is in a high rise condo in downtown. Only a couple of these buildings qualify. The trade could be made for a qualified condo. However if this applies: “Are You 62 or Older and Still Kicking It, you may want to make the switch to a home you would just love.
I am thinking of a couple who are friends of ours. Their home is like the proposed examples. They love having the space. Every Sunday their home is a meeting place for dinner with all of the family. It’s a Sunday tradition for them. The master is on the main but downstairs there is plenty of room for guests. Will you current home fit your dreams? If not, give me a call, I am your guy to make a transition like this. These are just examples, we could get to the specifics based on your exact situation and desires.
I work in an wonderful business, and have done so for over 30 years, give me a call 801-244-1666 or if you are of the texting generation you can text me at 206-618-3724.
Something Special For Living In Holladay, Utah.
|You can walk through this gorgeous home online by clicking the link below:
Garden Village is a 6 unit condominium. The security gate serves Garden Village and a second smaller sized condominium complex.
It is a very coveted location in Holladay, just walking distance to the town center.
The unit available is a beautiful, meticulously maintained residence in Garden Village. Access is off of 2300 E. The home is 3229 square feet on 2 levels.
There are vaulted ceilings in the living room and master bedroom, with 9′ ceilings and 8′ doors on the rest of the main level. The upstairs has an easy flowing open floor plan for single floor living. The living room is huge, has a fireplace with inserts and an open kitchen. In the kitchen you will find new Quartz counter tops, new sink, faucet, disposal and dishwasher. There is an additional 1/2 bath, a den and a utility room. In the spacious master suite, in addition to a vaulted ceiling, it boasts a bathroom that has a separate shower and a relaxing tub along with generous his and her walk-in closets. The home is full of upgrades, hardwood floors. The living room opens to a secluded, uniquely landscaped backyard. The downstairs has 8 foot ceilings, 2 bedrooms, plus a den, large family room, large bathroom with a linen closet and incredible storage. There is also a fireplace with insert downstairs. The home is perfect for folks that want generous space without time and effort consuming maintenance, that being included in the HOA dues. Yet there is ample separate comfortable space for visitors.
|For appointments, contact Showing Service 866-755-4555. For questions and offers, contact agent Larry Cragun, 801-244-1666.|
|Although the home is wired for a Central Vacuum, there is no vacuum to be included with the sale.|
|$250 p/mo + $500 Annually to reserves. This small HOA is self-managed. CC&Rs & ByLaws are attached.|
Avoid Wire Fraud. Criminals disguised as trusted professionals, are prowling for transactions that may be vulnerable.
It is important to take the proper steps to avoid wire fraud by managing the transfer of money for your purchase.
The common way this can happen is to discover who you will be wiring money to (title company) and send you instructions to the wrong account – the fraudsters account. Once this happens your money is irretrievable.
Accessing your email is how they discover where you are to send them money, they then spoof you with a fake letterhead with fake instructions.
Not receiving the instructions by email is a protection. Having the instructions sent to you with a password to open the attachment is another way of protection.
My main recommended title company, First American has a most secure process that they have just implemented called secure portal. Within the Secure Portal, they can electronically sign opening paperwork, download wire instructions, and communicate with their closing team without relying on risky emails.
We simply provide our clients’ email and phone number when opening escrow and they take care of the rest in a most secure process.
Do it right, calm your fears, and stay secure. Don’t take this risk lightly and avoid wire fraud. There need not be a tragedy if you take the serious and cautious steps to protect yourselves. By the way, text is more secure for communication than is email.
Another say to protect yourselves is to setup your email with a two step process to access your email. The simple way to explain this process is that to open your email you need two things: something that you know and something that you have. 1- you know your login credentials and 2- you have your cell phone. When logging in a message is sent to your phone asking you if this is you. You must acknowledge to get in. Windermere is requiring all of its agents to have the two step setup.
Avoid Wire Fraud
You Can Make The Mortgage Process Go Well. Consider these facts. Today more than ever before you need to be responsible to make your mortgage process go well. Federal Laws changed last week. They affect lenders and Title Companies, as well as you and your agent. Delays in closing are a huge hazard now. The new law is designed to help consumers understand better what they are receiving. There should be no last minute gotchas on rate or fees. That’s the good part. The rougher part is that everyone, including you, need to be diligent with their roles in bringing your purchase to an on time and satisfactory conclusion
What may excite a borrower is that the automated underwriting can give a quick approval. Yeah baby, you are done, you are approved.
Not so fast.
This is just step one. You have a long way to go to get to the end. It has always been a trek to the end, but with the advent of the meltdown everyone involved in your loan became fearful of making a mistake or being too lenient. This resulted in a lot of last minute issues.
Now I bring up the pressure event – the U Haul is rented and the loan must close on time. Nothing is more problematic than a delayed closing. It can actually be worse than the U Haul issue, closing late can kill the transaction. Sometimes a seller gets remorse, maybe has a better offer as a backup.
You are responsible to provide everything asked for, be it pay stubs, bank statements front and back, everything. So many of my borrowers have been slow, sloppy, even resistant to requests. And hey, your loan officer and processor might have more than your loan to get funded. Push Push push your way around. “What is the status, do you have everything, may I see the list of conditions by the underwriting” are all things you can do.
No matter what your nature, detailed or not, get involved in every detail of your loan. Make sure you see a copy of your credit report. See if anything is fishy. Fix everything fast that needs fixing or explaining. Ask your loan officer if they have a back up plan if trouble arises. I did. Doing loans was pressure packed for me. I laid awake at nights or woke up early in the morning scouring the loans in process in my mind. What if this happens, what will I do? I loved it, but it was grueling. At times I had 11 to 15 loans of my own in process. If you only knew what a gigantic list of details that created.
Don’t lie. The only loan that I had that blew up at the end was not my fault, yet I was the target of blame. The borrower was from Hawaii. Hawaii like Utah, isn’t a community property state. Spouses can buy real property separately. In Washington, where I was working, the opposite is the rule. This borrower – buyer, lied on his application. He said he was single. We came right down to closing and the underwriter conditioned a document to be signed by his wife. He was furious and wouldn’t comply. “How did you find out I was married?”. Dumb question! He made such a fuss that since I was working for a mortgage company owned in part by the real estate company he pressured the real estate company to fund the loan out of their own capital.
I will never forget the brokers statement. He too was out of step. He said he hated it – that loan officers say all the way through the process; he is approved, he is approved, he is approved and then at closing – sorry he’s not approved. He lied folks, and got caught.
I had another borrower that two days before closing came to me to back out by blaming it on me. He had $5,000 earnest money in escrow. I listened to his accusations which were many. I finally had had enough and said, “listen buddy this is all crap. I don’t know what is the real excuse but you better come clean with me right now. I have done loans for several members of your family, if you don’t come clean that’s it for the whole bunch of you.” He then humbly apologized and confessed that he had his accountant provide us with phony tax returns. I felt compassion for him, for he had already confessed this to his young wife. He said it broke her heart, both in losing this great home and in his actions. I assured him it was better to quit now and lose his earnest money than proceed with committing a crime. His conscience was his buddy even though the consequences were painful.
I once received a call from an underwriter. It was over one of our loan officers who had submitted his own loan. She tactfully said she was sending the loan back and that I should confront him over the income he claimed. I did. He blew up and threatened my with bodily harm that I should suggest that he faked his income. He said that he had filed amended returns and how dare I insult him. He was fired that moment and I informed him the underwriter had pulled a summary of all of his tax returns and I had copies. They did not match his application and he could leave now quietly or my next call was to the Feds.
So please do all you can do to make sure things go will with that you haul you have ordered. It’s on your shoulders too. Do it all, do it immediately, and do it right.
So I hop over to Harmons City Creek on Friday about lunch time and what do you know – it’s rockin! Great Music at the back street entrance.
And did I partake? No way, Kathleen fixed Italian for lunch.
But I did hang around for the upbeat music.
Larry K Cragun – Windermere Real Estate
Condominium and Residential Professional
801-244-1666 – email@example.com
What About Investing In Real Estate? An investor and real estate developer that I was once on staff for, Bill Schourup, had an important investing principle. It was based on his belief that real estate went in cycles. One can’t predict when the cycle will take place, but one can predict that there will be ups and downs in values. This was advice from over 30 years ago, when I was just a young pup. Mind you, he was an investor as well as a developer. Pretty much all of his investments were in real estate. He owned large portions of land, a shopping center, motels, pads to lease to fast food restaurants, apartments, and office buildings.
That advice was to either own your real estate free and clear or have it in debt as close to 100% as possible. The reasoning was simple. In a down market when you own it without debt your only risk is the cost to hold it. For example in land there may be taxes. Rental properties were a favorite as your risk on free and clear investments you may be subject to reducing rents.
When you have it close to 100% mortgaged the banks are more likely to work with you rather than foreclose and take the problem on their own or suffer a loss greater than working with you. An example I witnessed with a condo developer client was in the most recent down market or should I say crash. Rather than foreclosing on a building just completed construction before the crash the bank gave a client of mine in the Seattle area the right to rent the units out until the market turned back up. These were very high end condos. The client used the rent to maintain the servicing of the mortgage. Had their been serious equity that wasn’t a probable outcome.
Bill’s theory of there will always be ups and downs in the real estate market is in fact more than a theory. The concept that we never know when the down will happen is real. I was in a conference in New York City when a Harvard professor asserted that we were about to witness a crash. It was a real estate conference and he was about booed out of the building. None of the attendees bought into his premise. All of us soon witnessed the reality of his claim. If only.
What About Investing In Real Estate?
By the way, have any of you had your stock portfolio ruined in a heart beat? I have. We have. Kathleen was once a proud hold and never sell of major telecom stocks. They took a crash that have only partially recovered. One stock dropped by over 90% in value. She still holds it and yes, it has come back by about three times. If it were at $90.00 and dropped by 90% it would have gone down to just over $8.00 a share. See it triple again and she has it up to $24.0o. Not so good, right?
I sold a condo to an individual who called and wanted something better than what she was getting in the bank, which of course is about 0. She is getting a 5% return after paying the HOA. She bought it without a mortgage. This may not be the ultimate investment but it sure not risky to hold and it sure beats the bank.
What About Investing In Real Estate?
This article is a part of a series addressing What About Investing In Real Estate? I will share a variety of investing options which may or may not make sense for you.
Buyers Agency Contract, Will That Agent Want A Contract With You?
Buyers Agency Contract, Will That Agent Want A Contract With You? Yesterday I closed on a transaction where I was the buyers agent. Yes, we had a contract that I was her exclusive representative. We met a few weeks ago at an open house. She wanted to see different properties. I was willing to show her around and we spent a couple of afternoons looking at properties. It was then that I asked if she were willing to sign a contract. She seemed willing, took a couple of days to review it, and executed the contract.
Yes, we completed a transaction, and her last text to me was how excited she was about her new purchase.
Compare this with a situation a friend brought to me before I was licensed in Utah. He and his wife were looking at a home in North Salt Lake. They were moving here from the Midwest. He came to me with a buyer broker contract, wanting my opinion. The agent met them and pulled out an exclusive contract to represent them. They met the agent/broker by calling on a sign. The agent came and showed the home, he was a new agent and took the phone call at the office. (they call it floor time). There were a few issues that concerned my friend: they were unsure if they wanted to live in North Salt Lake. (They actually ended up buying in Pleasant Grove). They weren’t confident this was the right agent for them. They hadn’t seen the inside of other properties and were wanting to consider all options. It was clear that this agent didn’t know the other markets they were considering.
So what is the right conclusion about signing a contract with one agent? You could not sign anything, let that agent take a chance of having your sale. You could sign and take a chance all goes well.
It is important to know that these contracts are very binding. If you abort the contracted agent it’s probable that agent will be the one who gets paid, no matter who sells you the home. Neglect by that agent can put agents in a situation where the MLS has to arbitrate the result.
It is also important to understand the values to you the buyer when you contract with a good agent. 1- you become a high priority. So many people are willing to waste agents time, to have one offer such loyalty is highly valued and appreciated. That signed relationship will likely cause your agent to go far and beyond the normal service level to make sure you are taken care of. 2- Often, a trusted relaxed relationship that develops. You become trusted friends. The client I referenced has become an extremely important person in my wife’s and I lives. 3- The pressure is off of you when shopping on your own. You know you have an agent and if you are looking around, open houses or invites by friends to see their neighbors home for example, you take any pressure off from another agent by merely informing them that you have a contract with another agent.
Here are a couple of ways that might work for you. First be willing to sign a contract that names the homes you see with an agent, not sign for every home you consider in every market. This won’t limit you if you decide to move on to other considerations. Second, do as the example of my recent sale. Both of you invest some time together. If it is working, if you like and trust the agent, go ahead and sign the contract.
What About Investing In Real Estate – Part 3. Investing for the future, a second home or a rental home to keep. I present two, not so often stated reasons, for purchasing that rental property. What About Investing In Real Estate?
Typically it’s done for the cash flow. Sometimes it’s hoping to cash flow 5% or more and that’s what is the focus of the purchase. Consider these two reasons:
1- Buying now that rental property as the home you will move down and live in. If affordable buy it as a second home and not rent it. Buy it now. As I sell a lot of condominiums I find people in their 60’s- and older finally selling that big home with high maintenance and replacing it with a lock and leave situation, such as a condo. In downtown Salt Lake City the appreciation on condominiums has been, in some cases 25% or more in just the last three years. Those same units would have rented high enough to provide a decent positive cash flow return. The cash flow was nice but had the purpose been to own and retire to that unit the purchase price savings would have been the more important factor. I have had clients make their second home purchase for just this reason. It’s a smart decision.
2- Purchase a second home for the kids college. Young parents have four choices in planning for their children’s college expenses. 1- Pay for college costs out of ordinary income. (Add 25% to 30 for taxes) 2- Expect the student to pay work to pay for all or part of the costs.(That was my option) This could take longer to graduate with the higher possibility that the student will dropout. 3- Student loans where the student starts out in life deeply in debt. Do you know any kids in this situation? I do. 4- Pay college costs out of assets. Buy a rental property that will be free and clear. In some families the perfect loan is a 15 year mortgage to assure the free and clear result. This purpose opens the door wide open to the location and type of investment property. A good location I have guided clients to is in communities near the growing tech area called Silicon Slopes, Lehi and close by.
As an example to #2 above is if you purchased a $300,000 property with 20% down and you experienced a 5% per year appreciation that home would be worth $623,679 in 15 years. In the Silicon Slopes area rents are currently typically earning $2,000 per month.
If your child is already a college student, purchasing a property is still an excellent solution to curbing the high cost of education. The investment property can be a place for the student to live and provides a source of income (roommates) to help pay the mortgage. I have had several clients purchase in this situation.