Market Data Report 6.27.13 by Inwest Title a Utah Title Company

June 28th, 2013
Market Data

Click here to view the latest Market Data report from Inwest Title

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

Market Data 6-1-13 PERMITS by Inwest Title a Utah Title Company

June 17th, 2013

Click here for the latest Market Data report

 

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

Seller Net Sheet Calculator by Inwest Title a Utah Title Company

May 24th, 2013

TAKE THE MYSTERY OUT OF HOW MUCH YOUR SELLER WILL RECEIVE AFTER CLOSING

Inwest Title Services, Utah’s Largest Independent Title Insurance Agency, removes the guessing out of how much your sellers will receive from the sale their home.

Simply go to www.Inwesttitle.com and put in your login information, and click on the NET SHEET CALCULATOR.   If you do not have login information, please contact missymarketing@inwesttitle.com, and she will set you up with a free online login right away!  You will then be asked to fill in 10 pieces of information and once you click “calculate” the positive or negative amount your seller will receive after closing will populate the top field. All title insurance fees will be included in the calculations and detailed for you and your seller all on one page.

Example of Seller Net Sheet Calculator

This is important because if adjustments need to be made in offering a Home Warranty, Seller Paid Closing Costs or other items this can be handled before an offer is received.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com

Tips from a Title Agent by Inwest Title a Utah Title Company

May 10th, 2013

Tracy Cottle-on Good Things Utah

 

Calulating Absorption Rate by Inwest Title a Utah Title Company

April 5th, 2013

You may have noticed that the weather isn’t the only thing warming up in Utah. The real estate market has also started to heat up.   Professionals use many metrics in order to understand the real estate market, one of which is called the “real estate absorption rate”.  As a buyer, seller, or agent–understanding the real estate absorption rate for your area, can be a key piece of information.  Similar to the notion of keeping stock on the shelves of a store, the real estate absorption rate is a single number that indicates how much time that stock will last. This number is one sort of indicator of a concept that many people have heard of, “supply and demand.”

Sellers Market: 1 to 4 months supply of homes

Neutral Market: 5 to 6 months supply of homes

Buyers Market: More than 6 months supply of home

The final number from the formula, tells us the number of months it would take to sell every listing on the market, if no other listings were added.  It’s important to calculate more than a single month to get a better understanding, because the market is always changing, and homes are always being listed and sold.  We calculated the absorption rates for the 1st Quarter, to get a clear view of how the market has been behaving–and we can see that January and February were both sellers’ markets.  However, as we calculated the rates for March, we can see how quickly the market changes.

While sales were heating up, more sellers jumped into the market, and the rate jumped to a 7.03.  This change from February to March is great for a seller, and informs them that the competition is greater, and they should be more aggressive with their listing price.  It also lets a buyer know that the inventory has grown, and they can be pickier, and have more of an edge in the negotiation.

 

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

An Examination of A Title Order, by Inwest Title, A Utah Title Company

February 21st, 2013

At Inwest Title Services, we recognize that our clients have a million and one things on their “to-do” list and placing a title order can be one of them. We sincerely appreciate our clients, and we work quickly and effectively to return their title order in a dependable manner. We thought that since our clients know the in’s and out’s of placing a title order with us, we would describe what happens on our end after receiving the order. Make sure to watch the entertaining video below to see the process in action!

What happens to my title order?

After sending the title order through an electronic device, we immediately receive it and the step-by-step process begins at our Title Plant in West Haven Utah.

The first stop in the title order process is to the Locate Department. Our staff locates the property in the county records and pulls copies of the taxes and abstracts. Next, the order is sent to the Title Searching Department. The county records are searched to find all applicable documents that need to be shown on the commitment or also known as the “PR.” Subsequently, the Typing Department receives the order where it is typed from a hand-written sheet to a clean and accurate typed report. The final department to review the order is the Title Review Department. They double-check the search and it is proofed for typos and errors. Last but not least, the commitment is completed and sent back to the client via email.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

 

Inwest Title Park City, Title and Escrow with a little snow on top, by Inwest Title, a Utah Title Company

January 10th, 2013

Inwest Title Services Park City

Welcome to Inwest Title Services! We have 13 convenient locations throughout Utah to serve all of your title and escrow needs. Whether this is your first interaction with Inwest Title Services or you’re a seasoned client, we want you to become acquainted and familiar with all of our friendly employees. We will regularly spotlight one of our 13 locations and feature the escrow officer(s) at the correlated office.

Whether you need a title search, foreclosure report or property profile, all of our professionals will be of assistance in any way possible. We are proud to serve the needs of our community with some of the most competitive rates possible. Our team of title and escrow officers will be delighted to work with you!

Park City Office

The office spotlight of the day is the Park City location. They are located at 1571 Redstone Center Drive Suite 110, Park City, Utah. The office includes three employees: Karen Kasperick, Manager/Escrow Officer, Candace Rushton, Escrow Assistant, and Heather Parrish in Reception.

Our employee spotlight of the day is Karen Kasperick. She has an exceptional background for the Title profession after working in an international law firm based out of New York for 18 years. She became a licensed Escrow Officer in 2002, and has loved the career move ever since. She joined Inwest Title in 2008 when she was recruited to be the manager of the Park City office. Her work ethic and professionalism are traits she is well known for. She keeps her schedule flexible to accommodate her client’s requests for closings after hours or in locations other than the Park City office. Customer satisfaction is her highest priority.

Karen and her husband, Mark, have two children, Kelsey and Taylor. Her favorite activities include: cooking, running, hiking, and vacationing at the beach.

Inwest Title Services Park City

Karen Kasperick

Inwest Title Park City Office Photo

Park City Staff

 

 

 

 

 

 

 

 

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance Quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

 

 

 

Preparing Your Home For Sale, by Inwest Title, a Utah Title Company

December 28th, 2012

At Inwest Title Services we want to help you in any way we can. In addition to our services we also have relationships with real estate professionals, loan officers and others in the industry that provide us with useful tips that we want to pass on to you. One thing that is really important in the current market is making a home stand out and look its best when trying to sell it. Whether you are a real estate agent or a home owner, there are some tips than can help you sell your home.

Clean It Up: It seems obvious but it is often surprising how many homes are full of clutter, too much furniture or safety hazards that make it not show its best. Having a home that looks spacious will make buyers feel like they will fit and be comfortable. It may be necessary to put some furniture and other items in storage but make it feel roomy by applying the concept of “less is more”.

Make it Smell Good:
Bad smells make a home seem unclean and like it hasn’t been well cared for. A professional carpet cleaning will not only revitalize carpets by removing stains and minimizing the appearance of wear…but it will get rid of odors that have been trapped for years and make the rooms smell fresh. Removing litter boxes, washing pet bedding regularly, taking diapers outside immediately after changing them etc. will make a home smell its best. Air fresheners are not a bad idea either. Make your home one that is remembered because it looked and smelled its best.

Curb Appeal: Clean up the outside, keep landscaping well watered and trimmed, remove trash cans from the curb as soon as they have been picked up, keep debris, toys, etc. cleaned up, especially in front. Let the first impression in a picture or in person be the best possible.

Safety First: Keep driveways, walks and porches cleared of snow and ice in the winter, or overgrown landscaping in the summer. Don’t have potential buyers change their mind because of an injury that could have been prevented. Keep dogs confined during showings, some people are afraid of even the smallest dogs. Make sure that firearms, medications, and anything else that could be hazardous or harmful are properly secured.

Lights on: Turn on every light in the house when a showing is being expected to make it easy to see and make the home look bright and vibrant. Don’t leave your potential buyers fumbling to find a light switch in the dark.

Making your home one of the best on the market will increase the chances of it selling with the timing you need, and for the best price possible.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance Quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

 

 

No Split Closings on Cash Deals in Utah, by Inwest Title, a Utah Title Company

December 20th, 2012

Have you ever been involved in a split purchase transaction where the Buyer and Seller want to close at different title companies in Utah, only to be informed that your cash Buyer has to close with the Seller’s title company?  Is this True? Can they force your Buyer to do this?  Why is this happening?

This issue first arose in 2007 when the Utah Insurance Department issued a bulletin announcing their official position that under the Insurance laws a title company that was only handling the cash side of a purchase was not authorized to conduct an escrow since they would not be issuing a title insurance policy.  For a while after this a few title companies tested the waters claiming the statutory language was ambiguous and elected to close Buyer side cash closings anyway.  Ultimately, these companies were pursued, fined, placed on probation, and ended up losing their battles with the Utah Insurance Department.  Additionally, a few years ago the Division’s position was further strengthened by an amendment to the insurance laws (see 31A-23a-406(1)(c))  that clarified the language stating a title company must issue a policy in order to conduct an escrow.  (There is a minor exception to this rule when a title company is dealing with mobile homes, grazing rights, or water rights.)

Is everyone happy with the result? No, but it is the law and it is unlikely to change.

Potential Solutions for your cash Buyer:

  1. Negotiate in the REPC that the Seller close and purchase title insurance from a title company selected by the Buyer;
  2. Request the Buyer be permitted to do a courtesy signing at the title company of their choice.  (This will mean the Seller’s title company will still prepare all the documents and receive all funds, but the signing can take place elsewhere); or
  3. Close with the Seller’s title company.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance Quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.

 

What is a Title Plant? By Inwest Title, a Utah Title Company

December 6th, 2012

Have you ever heard the two words, “title plant” together and wondered, “What is that?”  Question no more because today is your lucky day! Below is an explanation of what and where our title plant is located and how it can be beneficial for you and your clients.  Be sure to watch the video for an even closer look at onsite footage and further insight regarding our title plant!

Inwest’s title plant is a privately owned facility located in West Haven Utah.  Inwest Title Services owns all of the county record information including abstracts, plat maps, documents, and important information necessary to complete a title examination.  One of the many benefits of owning our own title plant is full access to information on our own schedule without the delay of limited courthouse hours.

Our title plant was built in 2002 and serves many purposes.  The plant has ten departments and retains thirty-eight employees.  We have built more individual county title plants than any other title company in Utah and are progressively building new title plants for outlying counties.  We have title records for 93% of the population of Utah and will soon have county records for the entire state.  This allows customers unprecedented access to information about most cities or counties in Utah.

For this and other information on Utah Title Companies, Utah Title & Escrow, or Title Insurance quotes locate and contact your nearest Inwest Title office at www.inwesttitle.com.