Salt Lake
REALTOR
®
slrealtors.com
Maga zine
January 2017
Meet Troy Peterson p. 12
Post Closing Issues p. 14
THE BEST OF CITY & MOUNTAIN LIVING FOR YOUR CLIENTS A $500 CITY CREEK GIFT CARD FOR YOU City Creek homeowners enjoy doorstep access to world-class shopping and the new Eccles Theater. Start showing your clients the magic of City Creek Living today. Receive a $500 City Creek gift card as our thanks when your client goes under contract between January 1 and June 30, 2017.
Schedule an appointment at 801.240.8600 to tour designer model homes. City Creek Living pays 3% BAC CityCreekLiving.com
So What’s Next?
Wondering what 2017 will look? In an unpredictable market, having a knowledgeable parter is key. We have the tools, loan products, analytics, and daily insight to guide you. Whatever unfolds, let’s make it a record-breaking year! Call us to get started. Turning Houses into Homes™ This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice. SecurityNational Mortgage Company is an Equal Housing Lender NMLS# 3116. SNMC1216CU1041
SNMC.COM 844.542.LOAN (5626)
NMLS# 3116
Table of Contents Troy C. Peterson was sworn-in as president of the Salt Lake Board of Realtors® at the Holiday Social. p. 10
Features 10 Holiday Social 12 Troy Peterson President of the Salt Lake Board of Realtors® 14 Post-Closing Issues,
Professionalism & Relevancy Curtis A. Bullock
18 RPAC Major Investors 22 The REALTOR® Party Thrives Again in 2016 Justin Y. Allen
Columns 7 Refresh and Renew in 2017
Troy Peterson – President’s Message
Departments 8 Happenings 8 In the News 26 Housing Watch 28 Realtor® Connections 28 On the Move
On the Cover: Chris Kyler (left), Troy Peterson and Brock Andersen. Photo: Dave Anderton Photo left: Dave Anderton
This Magazine is Self-Supporting Salt Lake Realtor® Magazine is self-supporting. The advertisers in this magazine pay for all production and distribution costs. Help support this magazine by advertising. For advertising rates, please contact Mills Publishing at 801.467.9419. The paper used in Salt Lake Realtor® Magazine comes from trees in managed timberlands. These trees are planted and grown specifically to make paper and do not come from parks or wilderness areas. In addition, a portion of this magazine is printed from recycled paper.
Salt Lake
REALTOR slrealtors.com
®
Maga zine
January 2017 volume 77 number 1 The Salt Lake REALTOR® (ISSN 2153 2141) is published monthly by Mills Publishing, located at 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106. Periodicals Postage Paid at Salt Lake City, UT. POSTMASTER: Send address changes to: The Salt Lake REALTOR,® 772 E. 3300 South, Suite 200 Salt Lake City, Utah 84106-4618.
SEE WHAT’S NEW AT IVORY IN 2017 NEW CATALOGUE, NEW PLANS, NEW COMMUNITIES For nearly three decades Ivory Homes has been the number one homebuilder in the state of Utah. This incredible record is possible because the entire Ivory team comes together to serve each client, you and your client, one home at a time. At Ivory Homes we have more options, value, and experience than anyone else in the market.
Let us help you and your clients make all THE RIGHT MOVES in 2017 – request Ivory’s FREE 2017 Catalogue of Homes or visit us online
IVORYHOMES.COM
In our business, cabin fever is a good thing. With low rates, full transparency and a fast, streamlined process, we make purchasing a vacation home easier than ever.
We can help more of your buyers purchase a second home. Contact me today!
O: (801) 890-7660 x7660
Julia G. Borst
Julia.Borst@rate.com Rate.com/juliaborst
SVP, Divisional Sales Manager
C: (801) 362-7159
6900 South 900 East, Suite 150 • Midvale, UT 84047 Julia G. Borst NMLS ID:275440, LO ID# UT - 5495305 - 7495184 • NMLS ID #2611 (Nationwide Mortgage Licensing System www.nmlsconsumeraccess.org) • Utah - Licensed in UT: Utah-DRE Mortgage Entity License #7495184 & Utah-DFI Residential First Mortgage Notification – Utah Department of Financial Institutions
Salt Lake
REALTOR
® ®
Maga zine
slrealtors.com slrealtors.com
President Troy Peterson Equity Real Estate
Directors
First Vice President Adam Kirkham Summit Sotheby’s International Second Vice President Scott Robbins Coldwell Banker Residential Treasurer J. Scott Colemere Colemere Realty Associates Past President Cheryl Acker Utah Key Real Estate CEO Curtis A. Bullock
M. Brock Andersen Berkshire Hathaway Kimberly Farber-Bowen Equity Real Estate Brian Gottfredson Coldwell Banker Residential Alicia Holdaway Equity Real Estate Mike Morgan Realtypath Mary Olsen Utah Key Real Estate Jodie Osofsky Utah Key Real Estate Steve A. Perry Realtypath Michael Rowe Berkshire Hathaway Randal Smith Equity Real Estate Matthew Ulrich Ulrich Realtors®
Advertising information may be obtained by calling (801) 467-9419 or by visiting www.millspub.com
Managing Editor Dave Anderton Publisher Mills Publishing, Inc. www.millspub.com President Dan Miller Art Director Jackie Medina Graphic Design Ken Magleby Patrick Witmer Sales Staff Paula Bell Karen Malan Paul Nicholas
Office Administrator Cynthia Bell Snow Office Assistant Jessica Snow Administrative Assistant Ruth Gainey
Salt Lake Board: (801) 542-8840 e-mail: dave@saltlakeboard.com Web Site: www.slrealtors.com The Salt Lake Board of REALTORS® is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support the affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
Refresh and Renew in 2017
A
famous general once remarked that you’re as “young as your faith, as old as your doubt; as young your selfconfidence, as old as your fear; as young as your hope, as old as your despair.”
As we move into a new year, I am optimistic over the limitless possibilities and potential the real estate profession offers each of us. For starters, home sales will continue to gain momentum in 2017 despite the small rise in mortgage interest rates. Rates are still at 45-year lows. When I first got into this business, rates were 7.5 percent and everyone thought that was a bargain! With Utah being named by the U.S. Census Bureau as the “Fastest Growing State” we can expect more people, more household formations, and more home sales. Utah’s population is now at 3.1 million people, nearly 300,000 more people than in 2010. More than two-thirds of those people live along the Wasatch Front. The demand for housing will continue to accelerate as more companies and families choose to make Utah home. Other positive fronts include the Federal Housing Finance Agency’s recent announcement that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017 will increase. In most of the country, the 2017 maximum loan limit for one-unit properties will be $424,100, an increase from $417,000. This will be the first increase in the baseline loan limit since 2006. In higher-cost areas, higher loan limits will be in effect. While home prices have seen steep increases, 70 percent of all homes sold in the third quarter of 2016 in Salt Lake City were affordable to families earning the area’s median income of $74,000, according to the National Association of Home Builders. Compare that to San Francisco, where only 10 percent of families earning the city’s median income can afford a home in that area. There is much to look forward to this year and I am excited to meet new opportunities and challenges that will come our way. It’s going to be a fantastic year!
Troy Peterson 2017 President
The Salt Lake REALTOR® is the monthly magazine of the Salt Lake Board of REALTORS®. Opinions expressed by writers and persons quoted in articles are their own and do not necessarily reflect positions of the Salt Lake Board of REALTORS®. Permission will be granted in most cases, upon written request, to reprint or reproduce articles and photographs in this issue, provided proper credit is given to The Salt Lake REALTOR®, as well as to any writers and photographers whose names appear with the articles and photographs. While unsolicited original manuscripts and photographs related to the real estate profession are welcome, no payment is made for their use in the publication. Views and opinions expressed in the editorial and advertising content of the The Salt Lake REALTOR® are not necessarily endorsed by the Salt Lake Board of REALTORS®. However, advertisers do make publication of this magazine possible, so consideration of products and services listed is greatly appreciated.
OFFICIAL PUBLICATION OF THE SALT LAKE BOARD OF REALTORS ® REALTOR® is a registered mark which identifies a professional in real estate who subscribes to a strict Code of Ethics as a member of the NATIONAL ASSOCIATION OF REALTORS®. October 2005
January 2017 | Salt Lake Realtor ® | 7
Happenings
Pictured: Dave Mansell (left), Doug Richards, Troy Peterson (2017 president), Donna Pozzuoli, Russ Booth, Mary Ann Brady, Dave Frederickson, Hilea Walker, Angie Nelden, Robert Farnsworth, Miriam McFadden, Bill Heiner, Deanna Dipo, Sharon Spratley, Ryan Kirkham, Cheryl Acker, Debra Sjoblom, George Richards, Vicki Fulkerson, Dave Robison, Curtis Bullock (CEO), Gary Cannon, and Al Mansell.
Past Presidents Recognized Past presidents of the Salt Lake Board of Realtors® were honored in December at a special luncheon for their service and dedication to the real estate profession. Presidents serve a one-year term and are elected to the position by the Board of Directors.
Double-Digit Rise in Home Sales U.S. home sales in November were the highest since February 2007 (5.79 million) and were 15.4 percent higher than a year ago (4.86 million). Lawrence Yun, NAR chief economist, says it’s been an outstanding three-month stretch for the housing market as 2016 nears the finish line. “The healthiest job market since the Great Recession and the anticipation of some buyers to close on a home before mortgage rates accurately rose from their historically low level have combined to drive sales higher in recent months,” he said. “Furthermore, it’s no coincidence that home shoppers in the Northeast — where price growth has been tame all year — had the most success last month.” In Salt Lake County, home sales in November increased 21 percent compared to November 2015.
8 | Salt Lake Realtor ® | January 2017
In the News Return of the Split-Level House?
R
ealtor.com recently reported that the split-level house (think Brady Bunch) is making a comeback. Although they had their heyday in the ’60s and ’70s, split-levels may soon enjoy a resurgence, some real estate experts say, as homeowners start to move away from the open floor plan that has dominated home layouts for the past decade. Open floor plans, after all, are spacious but lack definition. The various spaces of a split-level allow homeowners to keep that “open” vibe but with a bit more hierarchy built in. “At some point people became disenfranchised with open floor plans,” said T.J. Pierce, a real estate agent with Moniker Real Estate in Boise, ID. He sees split-levels as the next logical trend to catch on as the popularity of MidCentury Modern also starts to wane. “People interested in the ‘60s will start entertaining and engaging with the idea of making an early ‘70s split-level home really cool,” he added. “Over the next three to five years, I think they will find a new popularity.” Is a split-level house for you? Split-levels aren’t for everyone, however. If you’re not into the ’70s vibe—think conversation pits and low ceilings—these homes may not appeal to you. But if they do, you can still score a deal. Since their popularity is still in its infancy, these homes are readily available and affordable. Not surprisingly, split-level homes are found mainly in the suburbs.
FOR EVERY SEASON, FOREVER MEMORIES. At Victory Ranch, year-round recreation and amenities await those seeking a Park City vacation home to call their own. It is a place for your family to escape the everyday, and where great moments in the great outdoors become memories to treasure for a lifetime.
Experience the Good Life in
THE GREAT OUTDOORS
Come summertime, our Rees Jones Golf Course challenges your game while a 4,000-acre backcountry offers miles of mountain biking trails, yurt camping and 5-stand shooting. Hit the legendary slopes of Park City and Deer Valley in the winter or fly fish along the Upper Provo year-round.
Parenting tips from
THE GREAT
6,700 Pristine Acres Near the Legendary Ski Resorts of Deer Valley and Park City • 18-Hole Rees Jones Golf Course • The Post Clubhouse & Pool • The Barn Activity Clubhouse & Spa • Ski-in/Ski-out Park City Clubhouse • World-class Fly Fishing • Freestone Lodge Riverside Dining • 20 Miles of Hiking and Mountain Biking Trails • 5-Stand Shooting • 4x4 ATV Adventures • Jordanelle Water Sports • Backcountry Yurts
This is life at Victory Ranch. Homesites from $425,000, Cabin Homes from $1,595,000 Ask about our 3% broker commission on cabin & custom homes sales. Call 435.785.5000 Find yourself at VictoryRanchUtah.com Victory Ranch does not discriminate on the basis of race, color, religion, sex, handicap, familial status, or national origin. Read the property report for Victory Ranch before signing anything. No federal or state agency has judged the merits or value, if any, of property in Victory Ranch. Access to golf and other amenities is restricted to Victory Ranch Club members and subject to applicable membership fees and other limitations. Each office is independently owned and operated.
Holiday Social T
roy Peterson, a broker with Equity Real Estate Solid, was sworn-in as the 2017 president of the Salt Lake Board of Realtors® at the December Holiday Social and Directors Inauguration. Peterson’s goal this year is to improve the member experience. The Board thanks its outgoing directors this year: Dave Robison, Jared Booth, and Kevin Larsen. This year’s 16-member Board of Directors includes: Troy Peterson, president, Adam Kirkham, president elect, Scott Robbins, second vice president, Scott Colemere, treasurer, Cheryl Acker, past president, Brock Andersen, Kimberly Farber-Bowen, Brian Gottfredson, Alicia Holdaway, Mike Morgan, Jodie Osofsky, Steve Perry, Michael Rowe, Randal Smith, and Matthew Ulrich.
10 | Salt Lake Realtor ® | January 2017
Photos: Dave Anderton
January 2017 | Salt Lake Realtor ® | 11
Troy Peterson President of the Salt Lake Board of Realtors® Age: 43 Became a Realtor®: 1995 Current Position: Managing Broker of Equity Real Estate Solid Girlfriend: Jodi Gleave Hobbies: Skiing and Harleys Thoughts about Social Media? “There’s no privacy anymore. It will be the end of society.” First phone: Motorola brick phone Specialties: Residential, commercial, land, office, construction, retail Recently Said by Troy: “I’ll sell anything in real estate. I’ll sell a tough shed.”
Goal as president? Improve the member experience
shook my hand but wouldn’t let go. He said, ‘Guys like me don’t get buildings. Now I have a thriving business and own my own home.’ That experience made me think about what I really do. I realized I’m a Realtor®. I believe in private property rights. I believe in keeping government out of our industry. We are advocates. I’m providing places for people to work and places for people to live and raise their families. I believe in giving back to the community. I’ve never seen an organization that gives so much back to their community.”
Favorite Star Wars Character? Hans Solo
Favorite Vacation Spot? Hawaii
Thoughts about the Board: “When I first got in the business I really didn’t care about the Board. I had to join the Board to get the MLS. Then I sold a commercial building to an Italian guy. He was grinning ear to ear and
Favorite Quote? “I view the world as a giant amusement park. Before I die I want to go on all the rides.”
Outlook for 2017? Opportunity Past Jobs: “One semester of college and I knew it was not for me.” Troy has been a bar tender, owned a t-shirt company, and was a car salesman. Introduced to the Real Estate Profession: A friend. Troy was 21 years old when he earned his real estate license. What has selling real estate taught you about life? Patience
What advice for new agents? Get educated, be professional, and communicate. Secret to being successful as an agent? Don’t be afraid to fail. Don’t give up. Advice for older agents: Communicate, get educated. Pay attention to deadlines. Lessons Learned: “When I first started it was all about the money. When I didn’t care about the money I made more money.” Realtors® and the Economy: “We are the backbone of the economy. Without the housing market our economy does not exist. In 2007, when we had a major housing correction. What did we do as Realtors®? We went to work. Realtors® helped to get us out of that rut. We are the largest trade association in America. That’s huge.” Life Advice: “You don’t get to go back again. You get one shot at this. Then it’s over. So try every day to be your best.”
12 | Salt Lake Realtor ® | January 2017
Collaboration is not an option. It’s a promise. When we work with Homebuyers, we build homes around their lives – not the other way around. The same is true when we work with you. At David Weekley Homes, we work hand-in-hand with you and your Team to ensure that your Clients’ path to homeownership is as seamless and fulfilling as possible – and so is your experience in helping them get there. That’s The Weekley Way. At David Weekley Homes, we love taking care of you and your Clients by: • Encouraging you to register your Clients with us – we promise it will be easy VISIT US IN ALL OUR FINE COMMUNITIES • Paying you complete commissions based on a home’s full sales price, not just the base price • Making you look good by guiding your Clients through the building process and beyond
S A LT L A K E C I T Y
s N
215
Great Salt Lake 80
SLC International Airport Lincoln Highway
Salt Lake City
80
1
S. 700 E.
71
201
E. 1700 S. 80
Belt Route
80
1. City View on 7th From the $665s Call for an Appointment 800-240-7487
Fo r t
W. 10400 S.
68
6. Deer Run Preserve
t
From the $620s 385-232-2999
4
4. Canyon Centre Court
E. 10600 S.
151
South Jordan W. 11400 S.
6. Daybreak
From the $470s 385-232-2999
West Jordan
175
5. Canyon Centre Court From the $470s 7392 South Canyon Centre Parkway Cottonwood Heights, UT 84121 801-810-2564
Union Boulev ard
15
6
2. Holladay Town Center Court
ch
From the $660s 1969 East Highland Place Lane Holladay UT 84117 800-240-7487
untain View Corridor Mo
4. Highland Place
E. 5600 S. Belt Ro ute
215
5. Deer Run Preserve
3. Highland Place
3
3. Holladay Town Center Court From the $680s Call for an Appointment 800-240-7487
2
Holladay
a Wa s
From the $700s Call for an Appointment 800-240-7487
215
15
W. 5400 S. Bangerter Highway
2. Sugarhouse Ridge
1. City View on 7th
From the $680s Call for an Appointment 385-232-2999
The East Bench 266
800-240-7487
From the $665s Call for an Appointment 385-232-2999
E. 400 S.
80
Homes from the $275s to $680s+ in the Salt Lake City area
Jordon River Parkway 154
W. 11400 S. E. 12300 S.
71
15
Bangerter Highway
an d ghl Hi
ve Dri
5
From the $380s Call for an Appointment See a David Weekley Homes Sales Consultant for details. Prices, plans, dimensions, features, specifications, materials, and availability of homes or 801-810-2575 communities are subject to change without notice or obligation. Illustrations are artist’s depictions only and may differ from completed improvements.
7. Daybreak
Copyright © 2016 David Weekley Homes - All Rights Reserved. Salt Lake City, UT (SLCA82802)
From the $380s Call for an Appointment 385-232-2999 Cottage Courts From the $275s Creekside Village 60’ From the $360s Lake Village 60’ From the $430s 385-232-2999
© Maksym Dykha / Adobe Stock
Post-Closing Issues, Professionalism & Relevancy In today’s competitive marketplace, it is more important than ever to provide the best possible service to your clients. By Curtis A. Bullock CEO, Salt Lake Board of Realtors®
S
uppose you represent the buyer and have just attended Settlement. Shortly after the buyer gets the keys and takes possession of the home, they find a few problems with the property that were not discovered when doing the walkthrough. The refrigerator is missing, there is a small hole in the drywall in the stairway and the prior owner has left a bunch of trash in the garage. Your buyer calls you and asks for help. You say, “sorry that’s not my problem, call the seller, it’s between you and them. I have a good lawyer you can call.” Your buyer hangs up the phone frustrated at your response and goes on their way. Does this sound familiar? Have you ever done that? I suppose there are legal answers to this problem, but my message here goes beyond that. What is the practical and smart thing for you as the Realtor® to do when faced with this situation? One thing is certain is that in today’s competitive marketplace, it is more important than ever to provide the best possible service to your clients. Increasing the level of your professionalism and maintaining your relevancy in the transaction is vital. There are many industry disruptors out there that would love to automate the real estate transaction and make the real estate professional less important. The best way to combat that is to show the tremendous value you provide. Situations like the one above can actually be
14 | Salt Lake Realtor ® | January 2017
a good thing for you as a Realtor®. It can really turn into an opportunity for you to shine and set yourself apart as a vital component to any real estate transaction. Remember, just because the transaction has closed and you have received your check does not mean you should forget about your client. Maintain a good relationship with them. Take this kind of situation as an opportunity and turn it into a positive thing for your client. It might even be good to look for and seek out situations like this because you can do so much good with it and can leave a positive impression with your client. I highly doubt the buyer in this situation would refer you to a friend if you left them hanging and conversely I’m sure that if you helped them actually solve the problem, they would remember you more for that than anything else that happened during the transaction. Having said all that, as the professional, there are some things you can do to minimize classic post-closing problems like these. Here are a few that come to mind: (1) When you are with your buyer during the walk-through, pay attention for common problems and advise your client accordingly. The classic problem of missing appliances can be dealt with in the REPC and you can remind the Seller that such things must stay in the home. Who knows, maybe the Seller isn’t even aware that the fridge was supposed to stay. (continued on page 24)
DIRECT LENDER 24 HR credit approval by Sr. Underwriters 24 HR underwriting turn time for Purchase loans
CONVENTIONAL Freddie Mac Super Conforming Loan Program No up-front mortgage insurance premium Owner-occupied, second homes & investment properties
FHA FHA Purchase to 580 FICO Owner-occupied primary residence Down payments may be gifted 3.5% down
BUSINESS DAY CLOSE GUARANTEE*
JUMBO Delegated underwriting up to $3 Million Competitive rates Owner or non-owner occupied 1st time Homebuyers allowed
CONTACT ME! APRIL SLIZEWSKI
Branch Manager | NMLS #272815
April.Slizewski@nafinc.com www.branch.newamericanfunding.com/saltlakecity
SALT LAKE CITY BRANCH
6975 S. Union Park Center #300 Cottonwood Heights, UT 84047 801.890.6418
Join our growing company! Visit www.TeamNewAmerican.com Licensed by the Utah Department of Commerce Division of Real Estate Lic# 6076868-MLCO 7. *14 business day guarantee only applies to purchase transactions. This guarantee does not apply to Reverse Mortgages, FHA 203k, Bond, MCC, loans that require prior approval from an investor, or brokered loans. The guarantee does not apply if events occur beyond the control of New American Funding, including but not limited to; appraised value, escrow or title delays, 2nd lien holder approval, short sale approval, or lender conditions that cannot be met by any party. The 14 day trigger begins when your initial application package is complete and you have authorized credit card payment for your appraisal. If New American Funding fails to perform otherwise, a credit of $250 will be applied toward closing costs. NMLS #6606. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice. Š New American Funding. New American and New American Funding are registered trademarks of Broker Solutions, DBA New American Funding. Corporate Office is located at 14511 Myford Road, Suite 100, Tustin CA 92780. PHONE (800) 450-2010. All Rights Reserved. 6/2016
D.R. Horton Sells a New Home Every 14 Minutes Visit drhorton.com/utah for more information. *D.R. Horton is America’s #1 Homebuilder per Builder Magazine. Calculation of homes sold based on the number of homes that closed escrow from 10/1/25 – 6/30/16. Photos are representational only. Furnishings not included.
See why more people choose DR HORTON over any other builder:
1.
BUYING POWER
2.
EXPERIENCE
3.
PEACE OF MIND
4.
LOCATIONS
5.
PROCESS
6.
PEOPLE
7.
PROVEN FLOOR PLANS
More people build their home with D.R. Horton than any other builder. That’s why we’ve been ranked America’s #1 Homebuilder by Builder Magazine since 2002. As the nation’s leader, our incredible buying power equals superior home quality at a lower price.
Over 35 years ago, Donald R. Horton had a vision of livable and affordable new homes built with unmatched efficiencies and uncompromising quality. After three decades of experience, that vision remains the same.
We take pride in the craftsmanship of your client’s home even after we deliver the keys. Our home warranty is an important part of your client’s lasting enjoyment and peace of mind long after they move in.
We have great neighborhoods your clients will love in Layton, Lake Point, South Jordan, Bluffdale, Highland, Saratoga Springs and Provo.
D.R. Horton offers a seamless transition to a new home with our team of outstanding professionals. From the initial home design through the building process, our team will work hand in hand with you and your client every step of the way.
Our people are professional, knowledgeable, friendly, and more importantly dedicated to making your client’s dreams of owning a new home a reality.
D.R. Horton provides a wide range of beautiful floor plans from townhomes to luxury homes meticulously crafted with superior design and innovation.
RPAC 2016 MAJOR INVESTORS
HALL OF FAME
$25,000 or more LIFETIME INVESTMENT
Justin Allen
Jim Bringhurst
Gary Cannon
Chris Kyler
Tuiono Malakai
Al Mansell
Kenny Parcell
George Richards
Dave Robison
President’s Circle $50K HALL OF FAME President’s Circle President’s Circle
Jeffrey Jonas
Troy Peterson
President’s Circle
President’s Circle
President’s Circle
Platinum R
Joel Carson
Platinum R President’s Circle
Butch Dailey
John Gonzales
David Mansell
Aaron Marshall Christopher Nichols
Charlotte Thomas
Craig Hawker
President’s Circle
H. Blaine Walker President’s Circle
Thomas Wright
President’s Circle
Congratulations to the New 2016 Hall of Famers: Justin Allen, Joel Carson, and Troy Peterson
CRYSTAL R ($2,500)
The Realtors® Political Action Committee
Protecting the Real Estate Profession GOLDEN R-$5,000
Justin Allen
James Bringhurst
President’s Circle
President’s Circle
Tuiono Malakai Platinum R
Chris Nichols President’s Circle
Joel Carson
Troy Peterson President’s Circle
Kim Farber Bowen President’s Circle
Dave Robison Platinum R President’s Circle
Craig Hawker
UtahRealEstate.com Platinum R
Grady Kohler
Chris Kyler
H. Blaine Walker
Thomas Wright
President’s Circle
President’s Circle
President’s Circle
CRYSTAL R-$2,500
Judy Allen
Brock Andersen
Adam Kirkham
Boyd Brown
Ryan Kirkham
Gregory Call
Claire Larson
Gary Cannon President’s Circle
Scott Colemere
ShirLee McGarry Donna Pozzuoli
Amy Gibbons
Tamra Rieper
CRYSTAL R ($2,500)
Becky Grubel President’s Circle
Lisa Jungemann
Walt Vandenberg Randall Woodbury President’s Circle
* President’s Circle
STERLING R - $1,000
Cheryl Acker*
Lana Ames
Kenneth Bell
Matt Bellini
Susan Benson
Annie Bertoch Macdonald
Terry Bickmore
Jared Booth
Russell Booth*
Jillinda Bowers
Jake Breen*
Curtis Bullock*
Max Burdick
Cameron Burnside
Daniel Cabrera
Sheridyn Cannon
Michael Carmody
KK Chaplin
Scott Chapman
Kimberly Chatterton
Kristen Coleman-Nicholl
Bryan Colemere
John Dowdle
Matthew Dulle
Michael Egan
James Ellis
Gregory Fabiano
Mark Feigh
Laura Fidler
Michelle Gilvear
Bob Goodson
Joel Hair
Dawn Houghton
Kris Hudson
Bryan Hurd
Justin Hurd
Lori Khodadad
Carolyn Kirkham Greene
Thomas Kreifeldt
Fred Larsen
Kevin Larsen
Craig Lelis
Terry Cononelos
Carol Ann Daves
R. Brian De Haan
DeAnna Dipo*
Rod Folkersen
David Frederickson
David Freiss
Rolando Gill
Cassie Jackson
Spencer Janke*
Steven Johnson
Jeff Justice
Tony Ketterling
Hector Lombana
Cheryl Lyon
Brook Madsen
Al Mansell
Susie Martindale
Scott Maruri
Tonja Masina
J.D. McBride
Chris McCandless
Carolee Mecham
Michael Morgan
Angie Domichel Nelden
Daniel Nix
Robert Ockey
Joseph Olschewski
Jodie Osofsky
Joan Pate
Steve Perry
Joseph Pierson
Ravath Pok
Maura Powers
Lisa Radke
George Richards
Scott Robbins
Matthew Robison
Michael Rowe
Heather Roxburgh
Linda Secrist
Kelly Shuldberg
Christopher Sidwell
Debra Sjoblom
Elizabeth Slager
Janice Smith
Randy Smith
Paul Smith
Catherine Sneyd
Sharon Spratley
Kyrsten StJohn
Scott Steadman
Joshua Stern
Lee Stern
Dawn Stevens
Robert Stewart
Shelly Tripp
Thomas Udy
Nathan Ulrich
Matthew Ulrich*
Michael Ulrich
Tricia Vanderkooi
Lisa Wanlass
Wendy Wheeler
Linda Wight
George Morris
Paul Willden
Durven Wilson
Alex Winder
Doug Winder
Stacy Wissman
Jennifer Yates
Jeff Sidwell
Laurel Simmons
Elaine Zambos
BRONZE R - $500
Marsha Campbell, Curtis Casper, Stewart Hennefer, Michael Gabel, Linda Geer, Vann Larson, Darrel Stephens, Karen Stratford, and Margene Wrigley
2016 Event Sponsors
$10,000 investment to RPAC: UtahRealEstate.com $10,000 investment to NAR Corporate Ally Program: Equity Real Estate Golden ($5,000): Edge Homes, UtahRealEstate.com, Utah Apartment Association Crystal ($2,500): First American Home Buyers Sterling ($1,500): All-Points Inspections, Century 21 Everest, Daybreak, Graystone Mortgage, Home Guard Inspections, Home Warranty Pillar to Post Home Inspections, Praedo
CRYSTAL R ($2,500)
The REALTOR® Party Thrives Again in 2016 The Salt Lake Board in 2016 surpassed the 40 percent RPAC participation mark for the first time ever. By Justin Y. Allen Government Affairs Consultant justin@slrealtors.com
O
ne of the most valuable benefits of Realtor® membership is Realtor® Party Advocacy on behalf of SLBR members and their clients. The Salt Lake Board of Realtors® Government Affairs/ RPAC Committee members and Salt Lake Board staff play an important role in advocating to local governments on behalf of Realtors® and their clients by educating local elected officials about housing issues and then lobbying them to promote home ownership, encouraging Realtors® to get involved politically, supporting Realtor®-friendly political candidates, and raising money for our political and policy initiatives. The UAR and Salt Lake Board are recognized by NAR and among our peers as having one of most sophisticated and effective advocacy and elections programs in the country. 2016 An EPIC Year in REALTOR® Political Action Committee (RPAC) Fundraising Utah has had one of the strongest RPAC and advocacy cultures in the entire country for
22 | Salt Lake Realtor ® | January 2017
many years. We fundraise through various events and initiatives to increase the number of our members who are invested in the Realtor® Party effort. Thanks to the leadership and example of SLBR President Cheryl Acker, the Salt Lake Board surpassed the 40 percent RPAC participation mark for the first time ever. Our RPAC Golf Tournament and Real Salt Lake RPAC Event were great successes again this year. We were very pleased to reach our UAR assigned goal of $296,000 in early December and finished the fundraising year with over $320,000 raised. The Salt Lake Board ended the year with an amazing 148 total RPAC Major Investors ($1,000 or more invested), by far the most of any local Realtor® association in the U.S. and more than 35 states have in total. We sincerely appreciate all of our members who invest in RPAC throughout the year to strengthen the Realtor® Party effort. We celebrated these great accomplishments at our annual RPAC Major Investor Appreciation Event, which this year was held in conjunction with a screening of the Rogue One Star Wars movie. RPAC Major Investors and their invited guests filled the 500-seat theater to cap off another fantastic RPAC fundraising year. Issue Advocacy and Community Outreach The Salt Lake Board conducts issue advocacy in a variety of ways. Each member of the Government Affairs/RPAC Committee is assigned a city within Salt Lake and south Davis counties to be responsible for monitoring issues that might affect housing and private property rights. In August, we hosted our annual Elected Officials Appreciation Lunch and Issues Forum where over 40 mayors and city council members from Salt Lake and Davis counties heard a presentation from Dave Anderton on the Housing Market. We then had a discussion about the negative effect of impact fees on housing affordability, the lack of affordable housing for first-time home buyers, the need for a variety of housing types to meet all housing needs in their city, and the importance of continued smart, longterm planning in their community. Very Effective Local Election Involvement Members of the Government Affairs/RPAC Committee’s Elections Subcommittee and the RPAC Trustees spent countless hours working on city and county elections this year. We engage in local elections by conducting a transparent Candidate Interview Process, RPAC Disbursement by a RPAC Trustee group consisting of current and past SLBR leadership, and offering Campaign Services assistance to Realtor®- and Realtor®friendly candidates. We partnered with UAR and NAR to put on a candidate training academy
#slbrforecast The Salt Lake Board of RealtorsÂŽ Presents:
Housing Forecast Brought to You By:
Little America Hotel
Friday, Feb. 3rd | 9:30a.m.
Service Directory Home Inspection CRITERIUM-BERNHISEL ENGINEERS 801-466-0931 Scott Bernhisel, PE, MBA Professional Engineer
• Comprehensive Inspections • Expert Testimony • Diagnostics • Structural Repair & Design • Electrical, Mechanical, Roofing • Maintenance Planning • Environmental Assessments
TO ADVERTISE IN THIS SERVICE DIRECTORY PLEASE CALL MILLS PUBLISHING, INC.
801-467-9419
Exceeding ASHI Standards
that included several of our endorsed county candidates. In all, we provided over $50,000 in direct and in-kind support for our candidates. We were pleased to see all of our endorsed general election candidates win in November. The RPAC Trustees provided significant RPAC support to former Democratic County Mayor Ben McAdams, Republican Councilman Richard Snelgrove, and Realtor® Republican Councilman Max Burdick. We also supported all of the successful general election city council candidates in the first-ever Millcreek City elections held this year. A New, Stronger Government Affairs Team in 2017 Last month, after 10 years as the Government
(continued from page 14) (2) Use your intuition as you go through the transaction and anticipate problem areas. Most likely you’ve dealt with similar situations so learn from your experience and solve the problem before it even happens. (3) Refer your client to a good contractor that could help with the small hole in the drywall (which was likely made when the piano was being carried out by the moving company). Maybe even send a text to your contractor friend to give him a heads up that your client might be calling them. (4) Take an hour and offer to help clean the garage of all the trash that was left by the former owner. There is nothing more powerful than
24 | Salt Lake Realtor ® | January 2017
Affairs Director with the SLBR, I announced that I would be taking a position as a Senior Strategic Consultant with TargetSmart Communications, a D.C.-based Political Data and Consulting firm that works with NAR and state and local Realtor® associations all over the country. I will be based in Utah and will continue to work as a Government Affairs Consultant to the Salt Lake Board and UAR on a limited basis. It has been an absolute honor to be a part of the Salt Lake Board of Realtors® Family in my full-time Government Affairs Director role for the past 10 years and represent so many wonderful Realtors® who give so much of their time and resources to strengthen the industry through government advocacy and political involvement. I am grateful to be able to continue to work closely with you in a new capacity as a Government Affairs Consultant. Last month, the SLBR hired Marcus Jessop to be the new full-time Government Affairs Director. Marcus brings valuable experience in politics and even some background in real estate. Most importantly, he already has some great relationships with city and county elected officials that will prove beneficial now as the SLBR GAD. Moving forward, the SLBR Government Affairs staff team is the strongest it has ever been. 2017 is likely to be a critical year for Realtor® advocacy, especially at the federal level as NAR works to preserve the tax benefits that promote home ownership. The SLBR Government Affairs/ RPAC Committee is always open to all members. The committee meets on the first Wednesday of each month at 9 am at the REALTOR® Campus in Sandy. The next meeting will take place on Wednesday, Feb. 1st. For more information about SLBR Government Affairs or RPAC, please contact SLBR Government Affairs Director Marcus Jessop at marcus@slrealtors.com.
serving your client and having them see you roll up your sleeves and go to work. That small investment of time will pay back in dividends. Let’s make 2017 a great year. Take your business to the next level and provide the best possible service to your clients. It will be well worth the investment and will help promote the Realtor® value. Curtis A. Bullock is the CEO of the Salt Lake Board of Realtors®.
SAT | 2.4.17 |4:50PM
Includes Dinner in the Clubhouse
& 1 Ticket to Utah Jazz vs. Hornets
Housing Watch Home Sales Surge as Buyers Try to Beat Rising Mortgage Rates; Cash Sales Drop
N
ovember home sales surged locally and nationally as buyers rushed to beat rising mortgage interest rates. In Salt Lake County, nearly 1,400 homes were sold, a 21 percent increase over sales in November 2015. Davis County also saw home sales climb to 413 units, 71 more sales compared to November 2015. The U.S. 30-year fixed-rate monthly mortgage average rose to 3.77 percent in November, up from 3.47 percent in October, according to Freddie Mac. In the last week of December rates had climbed to 4.3 percent. Nationally, November home sales increased to 5.61 million, the highest since February 2007 (5.79 million) and 15.4 percent higher than a year ago (4.86 million). As of Dec. 22, the average rate had climbed to 4.3 percent. In a prepared statement, Lawrence Yun, chief economist for the National Association of Realtors®, said it’s been an outstanding three-month stretch for the housing market. “The healthiest job market since the Great Recession and the anticipation of some buyers to close on a home before mortgage rates accurately rose from their historically low level have combined to drive sales higher in recent months,” he said. “Furthermore, it’s no coincidence that home shoppers in the Northeast — where price growth has been tame all year — had the most success last month.” Total existing home sales (all housing types) in Salt Lake County in the first 11 months of 2016 increased 4 percent compared to the same January through November period in 2015.
6
3
Salt Lake County Sales (all housing types) Year-Over-Year (Up 21%)
1,140 26 | Salt Lake Realtor ® | January 2017
1,381
The median home price in November for homes sold in Salt Lake County increased to $268,125, up 6 percent from a median price of $253,425 a year ago. In Davis County the median home price in November climbed to $265,000, up 7 percent from a median price of $248,000 in November 2015. Utah home prices continue to outpace the national median price. In November, the U.S. median home price was $234,000. Total housing inventory at the end of November dropped 8.0 percent to 1.85 million existing homes available for sale, and is now 9.3 percent lower than a year ago (2.04 million) and has fallen year-over-year for 18 straight months. Unsold inventory is at a 4.0-month supply at the current sales pace, which is down from 4.3 months in October. “Existing housing supply at the beginning of the year was inadequate and is now even worse heading into 2017,” added Yun. “Rental units are also seeing this shortage. As a result, both home prices and rents continue to far outstrip incomes in much of the country.” All-cash sales across the country were 21 percent of transactions in November, down from 22 percent in October and 27 percent a year ago. Individual investors, who account for many cash sales, purchased 12 percent of homes in November, down from 13 percent in October and 16 percent a year ago. Fifty-eight percent of investors paid in cash in November, which matches the lowest share since August 2009.
Salt Lake County Median Price (all housing types) Year-Over-Year (Up 6%)
$253,425
$268,125
2 - C OLOR
1 Salt Lake County Days on Market (all housing types) Year-Over-Year (Down 26%)
17
2
5
Davis County
Median Price (all housing types) $259,990 Year-Over-Year (Up 9%)
$238,599
Pending Sales (Down 1%)
1,234
1,242
23
Sales $
Salt Lake County
4
Sales
Davis County Sales (all housing types) Year-Over-Year (Up 21%)
413
342
January 2017 | Salt Lake Realtor ® | 27
REALTOR® Connections
On the Move
Q&A: Dave Anderton Dave Anderton is the director of communications for the Salt Lake Board of Realtors®. Q: When is the 2017 Salt Lake Housing Forecast Breakfast? A: This year’s Housing Forecast is Friday, Feb. 3 from 9 a.m. to 11 a.m. at the Little America Hotel in downtown Salt Lake City. Registration is free for members and will open on Friday, Jan. 13 at 10 a.m. The Forecast Breakfast draws more people to it than any other event. Q: Who is this year’s keynote speaker? A: Lawrence Yun, chief economist of the National Association of Realtors®, will be our main speaker. In addition, James Wood, Ivory-Boyer Senior Fellow at the Kem C. Gardner Policy Institute, will be a featured speaker and present the 2017 Salt Lake Housing Forecast report. Q: What will Dr. Yun address? A: With mortgage interest rates on the rise and the ushering in of a new American president, change is inevitable for this year’s housing market. Dr. Yun will cover national housing sales trends, housing inventory levels, and what the future holds for Realtors® and their clients.
In Memoriam
Karen Davis Emberton
28 | Salt Lake Realtor ® | January 2017
Karen Davis Emberton, a Realtor® with Aubrey and Associates Realty, passed away Nov. 24, 2016. She was 39 years old. Karen earned her real estate license in September 2006. Karen had a big heart, according to her broker Rob Aubrey. Last year she invited a family from the homeless shelter to live in a property she owned. She covered the family’s expenses until they could earn enough to make it on their own. She also organized a drive with agents of the Wasatch Front Agents Facebook Group, and was able to buy the family new beds. Agents also donated furniture, dishes and other items. A college fund for Karen’s son, Davis, has been established. Contact Rob Aubrey for more information at 801.999.8209.
Mark Shepherd
Windermere Utah Real Estate announced that Mark Shepherd has joined the firm as branch manager and will lead a team of 10 agents in the company’s new Layton office. Shepherd is currently the mayor of Clearfield City, a community with a population of 31,000 people. He has been a real estate agent for 12 years. He previously was the broker and owner of RE/MAX Unlimited. Shepherd serves as regional vice president of the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors®. In addition, he was recently elected to the Council’s Board of Directors. In 2014, he was president of the Northern Wasatch Association of Realtors®, and has served on the Board of Directors for the Utah Association of Realtors®. The Salt Lake Board of Realtors® reached 7,520 members as of Dec. 22. Of the Board’s total membership, 93 percent were Realtors® and Brokers. The remaining members were affiliates. Total membership is up 7 percent compared to December 2015.
Many of the amazing people who call Equity home work
tirelessly to increase the professionalism and longevity of the Real Estate Industry.
We’re proud to be able to congratulate our very own Troy C. Peterson on his election as President of the Salt Lake Board of Realtors.
nals e o i s ofes l-servic r p the est ful n i o J ah. larg t e U h at t rage in OM C . e YOU 5 S brok Y 9 9 YPA 9 T I EQU ) 785
(800
Revolutionizing Real Estate!
The Hemingway
WITH US, IT’S PERSONAL™ For nearly 40 years, we’ve been building the American Dream for families across the nation.We think your new home should be uniquely yours, from the cabinets to the floors. That’s the Richmond American difference.
Visit RichmondAmerican.com/Utah to explore all of our exceptional communities across Salt Lake City!
801.545.5165 | RICHMONDAMERICAN.COM
INTRODUCING OUR NEWEST NEIGHBORHOODS… Ideally located for your Silicon Slopes buyers!
The Coronado
NEWMAN RANCH IN LEHI 1182 W. 30 North From the low $300s | Ranch & two story floor plans | Up to 7 bedrooms & approx. 4,400 sq. ft. | Near schools, downtown, Thanksgiving Point & The Outlets at Traverse Mountain
IRONWOOD IN SARATOGA SPRINGS 277 E. Sandhill Drive From the mid $300s | Ranch & two story floor plans | Up to 7 bedrooms & approx. 5,450 sq. ft. | Community clubhouse, parks, trails, year-round swimming pool & more! 2100 North
ad
od Ro
Saratoga Road
o Redw
NEWMAN RANCH 73
145
89
N. S arat
oga Road
15
68
IRONWOOD 114
UTAH LAKE
N
Map not drawn to scale.
Prices, specifications and availability are subject to change without notice. Square footage is approximate. Actual homes as constructed may not contain the features and layouts depicted and may vary from image(s). Dates and times are subject to change without notice. ©2016 Richmond American Homes, Richmond American Homes of Utah, Inc. (866-400-4131).
THE ONLY PRESENTATION TOOL YOU’LL EVER NEED At Windermere we believe that your presentation tool should complement your expertise, so we created a simple and streamlined interface with modern presentation features to help you stand out, attract clients and win more business.
FLEXIBLE AND AGILE As your conversation with your client evolves, so can your presentation. Easily edit and update your buyer and seller presentation with fresh MLS data, even mid-presentation. Because TouchCMA isn’t a static PDF, your presentation or CMA can adopt as your conversation with your client evolves.
WORKS ON ALL YOUR DEVICES Because TouchCMA runs in the cloud, you’ll always have the latest version of your presentation synced to your iPad app, laptop or any other Internet-enabled device you use. Make updates on your computer and present on your iPad. If a comp changes status or price before your consultation, your CMA updates and your credibility stands.
CREATE STUNNING REPORTS We make you look good. Visually stunning, full color interactive presentation and PDF reports are a mere click away.
To find out how Windermere’s industry-leading technologies can help you grow your business, contact our Principal Broker Grady Kohler at (801) 815-4663 or GradyKohler@Windermere.com
SUGAR HOUSE | UNION PARK | LAYTON | PARK CITY | COALVILLE