Posts Tagged ‘Real Estate Industry’

Tips from a Title Agent-First Time Homebuyers by Inwest Title a Utah Title Company

Wednesday, July 17th, 2013

Tracy Cottle-Tips from a Title Agent for First Time Homebuyers

Tracy Cottle meets with The Daily Dish on ABC4 and explains what first-time home buyers should prepare for. “The very best thing you can do if you’re thinking about (buying a home) is to log into the Inwest Title Website.”

 

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.

Tools for Networking by Inwest Title a Utah Title Company

Friday, June 28th, 2013

In the world of business we always hear words like Marketing, Networking, sphere of influence. These words sometimes trigger a plethora of thoughts. How do I obtain a “sphere of influence”? What tools do I need to “network” What does “marketing” mean?  No doubt, many of us feel overwhelmed in a world of social media and we may say to ourselves….I’ll put it out on facebook…I’ll tweet about it or I will join LinkedIn.

These are all great tools for getting the word out there however, there are also other places to Network, market and build a sphere of influence. When I first started in the world of marketing I knew a few people in the so called business, but not enough. I knew I had to get out there and meet people get to know them. learn who they knew and build my own sphere of influence. How you may ask? I got involved with great organizations within my business such as WCR. Through these contacts I met more great people who helped me gain knowledge and relationships. I learned about home tours and UCAR and found that there were so many people I didn’t know. I have recently joined a BNI group that meets once a week for the purpose of helping to build business. One of the best benefits of joining and participating in these groups and organizations is that while you do meet more people and increase your sphere of influence and learn how to market better. you make great friends and as you get to know them they also get to know you.  Please don’t think I’m not a fan of social media it has a great influence in business, but never underestimate good old fashioned face- to- face, one-on-one people meeting people.

I’m so grateful to the people who invited, informed, and allowed me to help each other build our business.-Cherri Gressemen; Orem Office.

 

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 Report 6.27.13 by Inwest Title a Utah Title Company

Friday, 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

Monday, 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

Friday, 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

Friday, May 10th, 2013

Tracy Cottle-on Good Things Utah

 

Calulating Absorption Rate by Inwest Title a Utah Title Company

Friday, 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.

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

Friday, 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

Thursday, 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.

 

REPC Deadline Reminder System, by Inwest Title, a Utah Title Company

Friday, October 26th, 2012

Do you and your real estate team struggle to stay on top of REPC (Real Estate Purchase Contract) deadlines from transaction to transaction?  If you work with Inwest Title Services on your real estate transaction then you need not fret.  Inwest Title Services provides their clients with timely reminders on all of their important deadlines on the REPC.  The deadline system triggers an email to your inbox when your pending deadlines are near:

*Seller Disclosure, Due Dilligence, Settlement Deadline, as well as Financing and Appraisal Deadlines all arrive 2-4 days before the deadline on the contract.

The system will also notify you of the latest REPC addendum we have received on file.

Let Inwest Title Services put your deadline worries to rest.  Place your next title order with Inwest Title Services.

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.