Sally Roberts, Park City & Heber Valley Mountain Resort Properties,Primary Homes

Reduced Home Sizes

If you are trying to sell a home that's around 2,500 sq feet in an area where there are lots of McMansions (like the Park City area), take heart; reduced home sizes are becoming more popular. There are a number of reasons for this and certainly the economy has played its role. But here are a few other reasons for this change:

• Credit standards have tightened and have moved back to the reasonable down payment and verifiable income hurdles that used to be the norm. You can't just fog a mirror and get a mortgage now.
• The reduced price of existing homes has reduced the amount of equity that can be realized in a sale and applied to a new home
• There is a heightened awareness of environmental issues, so concern over energy consumption is playing a role.
• Currently, a significant proportion of the buyers out there are first time buyers and they are seldom looking for large homes.

Another factor contributing to reduced home sizesis family size. In much of Utah, families are indeed large but the Park City area and even Heber Valley have a more heterogeneous mix of demographics where the national trend towards fewer children tends to express itself more readily.

Finally, builders are moving towards reduced home sizes in response to the factors listed above so current owners of medium sized homes aren't seeing the competition from the larger new homes that they did in the past. Given that your home is attractive, has good living spaces and is price according to the current market (not "I gotta have"), you can be assured that there are buyers out there actively looking and buying.

Cheers, Sally

Hidden Costs in Buying a Home

When buying a home, buyers tend to fix on the sales price (especially new buyers) without considering all the additional costs involved. Closing costs are an obvious addition to the sales price and they will typically run 4-6% of the home's sale price. But new fees have been added since the meltdown that can be hidden costs in buying a home. They can be based on the amount of the loan vs property value, your credit profile, etc and they can add up to as much as 3% of the loan amount. So it's definitely worthwhile to get an accurate estimate of all the closing costs for that home you want to buy.

If that home you are buying isn't new, then there might be hidden repair costs. You can protect against some of that by paying for an inspection and asking the seller to fix any problems found. But an inspector isn't perfect and other issues could come up a few months after your purchase such as a failed water heater or refrigerator. Again, you can buy some protection against appliance failures with a home warranty, but that adds to the hidden costs in buying a home.

New homes aren't free from problems either. Unless you have a reputable builder who gives you a good warranty, it's simply amazing how many problems can crop up a few months after the purchase of a new home, particularly if it was built on speculation by a small builder. So-called spec homes don't have a buyer hovering around to check on the builder, so corners in construction can be cut resulting in issues later on.

If you really want to flirt with hidden costs in buying a home. try buying a repo. This can be a great deal, but there are many traps for the unwary. Certainly, there can be a lot of deferred maintenance to rectify. But how about clouds on the title and the title insurance company is out of business? Title reports on such properties may not uncover mechanics leans and back taxes. Or, if the home is in an HOA, there may be back assessments due.

None of this should dissuade a buyer from purchasing a home that meets his or her needs, but it takes a fair amount of due diligence to identify all the hidden costs in buying a home regardless of whether it is new, used or a repo. And that's where a skilled Realtor is invaluable.

Cheers, Sally

Current Thoughts on Home Improvement

Lots of people are thinking about remodeling because they are stuck in their homes since the recent downturn in Real Estate has seriously reduced their equity making it difficult to move. But many others want to make their home more attractive so it will sell easier. So, what are the current thoughts on home improvement? What projects or features are the most desirable in the eyes of a buyer?

Of course, an updated kitchen is always high on the list, but attitudes have changed. It really isn't necessary for a major redo. Sometimes, simply removing a wall between a kitchen and a dining room will make for a spacious kitchen-dining area and can be done for a few thousand. Or, simply upgrading the counter tops can make a huge difference.

Other current thoughts on home improvement include walk-in closets. In fact, they are number one feature contractors say new home buyers insist on most. So if you have a large master bedroom with old style closets, perhaps giving up some bedroom space to make a spacious walk-in closet would be an effective and relatively inexpensive improvement.

While you do indeed see a lot of mega trophy homes in the Park City and Heber Valley area, buyers of new homes are opting for smaller, more efficient houses according to new home contractors, so no need to fret if you home is of a more modest size. Buyers are still attracted by the 'wow factor', but according to current thoughts on home improvement, curbing energy consumption is now high on the list, so think about low-e windows, a programmable thermostat, energy efficient appliances, an insulated front door, a high efficiency furnace--these are all easily done within the confines of your existing home.

People are also going for tile in traffic areas and hardwood floors rather than wall to wall carpeting. So it just takes a little thought rather than a lot of money to do some home improvement that will increase the wow factor when you put yours on the market. And of course all the standard improvements like fresh paint, removing clutter, etc...

Cheers, Sally

Great Restaurant in Heber, Utah

There was a time not too long ago that there weren't any fine dining restaurants in the Heber area.  But there truly is a Great Restaurant in Heber, Utah, and it's actually been here for a while, so if you haven't checked it out, you really need to do so! 

The Snake Creek Grill is tucked away in quaint Heber Old Town which is also the location of the Heber Creeper, a scenic old railroad ride.  The building echoes turn-of-the-century (last century) western architecture complete with wainscoting, gold walls, funky antiques and squeaky wide board floors.  The ambiance is much like sitting in the living room of an old, charming house.

That's all great, but if I was the chef, you probably would only come once.  However, Dean Hottle is the Chef and owner.  He has an associate's degree from the Culinary Institute of America and worked under the tutelages of celebrity chef Brandon Walsh in Ridgefield, Connecticut and Chad Scothorn in Telluride, Colorado.  The Snake Creek Grill was started in the late 90's and Dean worked there for six years before buying the place.

The result of all this is a truly Great Restaurant in Heber, Utah, but it would be great in tony Park City or San Francisco because the food is outstanding. Dean specializes in transforming classical dishes into wonderful comfort meals of generous proportions.  The menu is worthy of many great cosmopolitan restaurants, but here you are in little old bucolic Heber, Utah.  My favorite is the fresh Alaskan Halibut when it's in season with the hoisin-glazed calamari appetizer, followed by the tin roof sundae for desert--and yes, they have a great wine list.

"Salt Lake City Weekly" said that while Park City restaurants get all the acclaim, the Snake Creek Grill definitely warrants a trip to Heber.  I couldn't agree more!

It's interesting that the Park City ski crowd knows this place because it is packed with them in winter, so reservations are a must.  I say interesting because there are a surprising number of locals who don't know about this great restaurant in Heber, Utah, but now you do.  Oh, and check out their website:

http://www.snakecreekgrill.com

Cheers, Sally