ASK THE EXPERTS

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Ask The

Experts

With so many new arrivals in Utah, it got us thinking. We field so many questions from readers wondering where the best, well everything is. Folks are looking for more than food and fun (our specialty). They need places to live cars to drive, solutions for their business. So we asked some of our favorite partners to share their expertise and advice for newcomers AND longtime locals. Enjoy!

Written by Heather Hayes Portrait Photography by Adam Finkle Designed by Arianna Jimenez

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Chris Corroon

Founder & Broker

AXIS REALTY GROUP

25 N. G Street Salt Lake City chris@axisutah.com

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WHAT SHOULD FOLKS BE AWARE OF WHEN THEY ENTER THE CONDOMINIUM BUYING AND SELLING PROCESS?

SALT LAKE CITY’S urban center is drawing home buyers in record numbers. Outdoor enthusiasts delight in easy trailhead access just minutes from their front door, and city-dwellers love the burgeoning nightlife, food scene and cultural attractions–not to mention sharing the neighborhood with high-end stores like Tiffany and Louis Vuitton.

Axis Realty Group specializes in marketing downtown homes and condominiums, specifically new developments. Founder and Broker Chris Corroon is the go-to for residential buyers and sellers as well as for developers needing guidance in positioning higher-end condo communities. He’s a pro at selling upscale properties throughout the state, (he recently co-brokered a 13,000- acre ranch named Land Report’s 2019 “Deal of the Year”). He learned the intricacies of the high-end condominium niche selling such properties from ski-in/ski-out condominiums in Park City to consulting with City Creek developers on the three residential high-rises near downtown Temple Square that opened in 2012.

“Salt Lake really needed a higher-end, high-density product for a variety of reasons and I was very fortunate to have worked with the City Creek developers for over a decade,” says Corroon of the 425-unit project. “Bringing residents back to the city was the aim, and now we’re seeing a rental-unit building boom. Downtown condos are still somewhat rare, making the market and resale market especially strong for condos. We’re seeing units sell for over $1,000 a square foot.”

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Aside from valuations, there are numerous issues to be aware of in terms of the condition of the buildings, pending assessments, homeowner issues, etc. Working with a good realtor who knows the downtown market is obviously a huge benefit to a condo buyer or seller.

WHY AREN’T MORE CONDOSBEING BUILT IN SLC?

Most developers have been building apartment buildings downtown–return on investment for rentals works better in our market and merchant builders have figured out that flipping those properties to out of state investors is extremely lucrative. People ask me why no one is building more high-rise condos. Salt Lake lacks a deep pool of sophisticated developers with staying power who are interested in developing great neighborhoods. As the City continues to mature, it’s only a matter of time before we’ll see more great condominium projects.

WHERE DO YOU SEE POTENTIAL FORMORE PROJECTS BEING BUILT?

I really like the West Temple corridor, from North Temple down to about 400 South. I think there’s great potential to see that area developed with high-rise towers.

Jeff Miller

Owner, CEO, General Manager

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MARK MILLER SUBARU MIDTOWN 3535 S. State St, Salt Lake City

MARK MILLER SUBARU SOUTH TOWNE 10920 S. State St, Sandy

801.553.5299

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WHAT CAN FOLKS EXPECT WHEN THEY VISIT MARK MILLER SUBARU?

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We recognize there is a traditional dealership stigma and we’re not afraid to do things differently. Our “Principles of Love,” guide our every action, and include not only a low-pressure experience but one in which customers are treated like family. We also work hard to give back to the community and our planet. We like seeing our customers leave with a feeling of satisfaction and trust.

WHAT IS THE PROMISE PRICE PROGRAM?

We are Utah’s only negotiation-free Subaru retailer. Our Promise Price program means that the price we advertise is the price you’ll pay—no hidden fees, just a fair price. It’s been highly successful because we offer a comfortable experience in an effort to build lasting relationships and make customers feel at home.

PEOPLE IN UTAH LOVE THEIR SUBARUS. WHY ARE THEY THE PERFECT CAR FOR OUR MOUNTAIN LIFESTYLE?

Utahns are weekend warriors—after a long week of work, we want to pack our gear and be in the mountains for a weekend escape as quickly as possible. The Subaru brand is synonymous with the mountain lifestyle. We love our gear, dogs, and the great outdoors, and we want a vehicle that expresses that lifestyle by offering all-wheeldrive vehicles, which, along with standard 8.7 inches of ground clearance, provides confidence when driving in the snow and off-road mountain trails. We recently launched our “My Subaru Is” campaign to collect these lifestyle stories from our customers. Visit mysubaruis.com and share with us what your Subaru means to you!

IT’S NO SECRET. Utahns love their Subarus–those rugged SUV alternatives are the perfect gear-loading, pet-hauling vehicle–even doubling as a mini camper for a night out in nature. Powering over uneven terrain and heavy snow with a “go anywhere” attitude, Subarus also boast a smaller carbon footprint and a smaller price tag compared to most SUVs.

“Between the 2022 Subaru Outback Wilderness™ (available now) and Subaru’s next-generation vehicle, the 2023 all-electric Solterra EV, Subaru is changing the game,” says Jeff Miller, CEO of Mark Miller Subaru in Salt Lake and Sandy. “Bringing SUV capabilities together with state-of-the-art safety technology, both incorporate Subaru’s legendary allwheel-drive engineering and environmental responsibility.”

Miller says his company is proud to be Utah’s only automotive retailer registered as a Benefit-Corporation—committing to material social and environmental impact initiatives. “No other car manufacturer balances the mountain lifestyle with planet consciousness quite like Subaru,” says Miller. He also promises customers a low-pressure experience. “We’re proud to be Utah’s only negotiation-free Subaru retailer. We give you an upfront, competitive and transparent price right from the beginning.”

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Jason Cowan

Principal

SPARK SOLUTIONS GROUP

6790 S. 1300 East Cottonwood Heights

801.486.2151

AHH, CREDIT CARDS—those magical pieces of plastic that reward you for buying things you need, and things you never knew you needed. Even in our mobile age, they continue to be the preferred payment method across any channel, with 454 million cards currently being swiped, clicked or scanned in the U.S. this year. While buyers love the convenience and rewards, it’s merchants who bear the cost of processing our Visas and Amexes. Each transaction is routed through a credit card processing service, and those services have become fraught with complexity due to a host of moving parts including varying rates, fees, limits and contracts.

“We know how complicated those fees have become, and how tough it is to assess if you’re paying too much,” says Jason Cowan, Principal of Spark Solutions Group, the equivalent of a business owner’s superhero. The Salt Lake-based company makes quick work of processing complexities, spotting hidden fees faster than a speeding bullet and implementing money-saving technology in a single bound. “We don’t write the software our customers use, but rather implement the right solution for each circumstance to maximize efficiency. It is not uncommon for us to save merchants $500 to $1,000 per month on their credit card processing fees.”

Spark Solutions Group is the longest operating point of sale transaction provider in the Intermountain West. Operating since 1974, Spark has assisted all types of businesses with lowering their costs and improving their operations. Based in Cottonwood Heights, with customers in every western state, the team focuses on the customer’s needs and provides a personal connection to ensure the best solutions are implemented.

“We are really happy when we can provide savings,” says Cowan. “We love making our customers’ jobs easier.”

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WHAT SHOULD A BUSINESS OWNER OR FINANCIAL MANAGER BE AWARE OF IN REGARDS TO CREDIT CARD PROCESSING FEES?

“There are different fee structures for different types of businesses and it’s not one size fits all. Also, know how to calculate your effective rate so you can ensure your fees don’t increase over time.”

WHAT IS AN EFFECTIVE RATE?

“It is the actual cost of accepting credit cards as a percentage. To calculate your effective rate, divide the total fees paid by the total amount processed over a given period of time and that will give you your effective rate. If your business pays more than 3% you should evaluate your situation.

HOW ARE YOU ABLE TO SAVE BUSINESSES SO MUCH ON FEES?

“With great buying power and unique software we are able to provide uncommon savings for our clients. Many people are so confused by the credit card fees they ignore that part of the business and so we come in and simplify it for them. We want customers for the long haul, so we provide low fees and a personal touch.”

Marianne Rasmussen

Senior Mortgage Consultant

NMLS# 1468509

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WYNDHAM CAPITAL

1218 E. 7800 South, Suite 301, Sandy 801.438.8403

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WHAT’S ONE OF THE FIRST THINGS YOU SHOULD DO IF YOU WANT TO BUY A HOUSE?

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For many people, this is the most money you will spend on anything in your life, so make sure you go into the process with the paperwork ready, questions answered, and feeling comfortable with your lender. Do your research. Talk to people you know who have had a good experience with a lender. Often, you’ll find that a digital lender may fit your needs.

WHAT’S KEY TO PUTTING IN A GOOD OFFER IN TODAY’S MARKET?

Buyers should be more than just pre-qualified. If you want to buy the house of your dreams, you should be fully pre-approved with an underwriter. Thanks to Wyndham Capital’s tools and technology, you can fill out the majority of an application online and receive a timely response.

WHAT SETS WYNDHAM CAPITAL APART FROM OTHER MORTGAGE LENDERS?

Wyndham Capital strives to provide employees and customers with a smooth transaction and faster turnaround of documents by communicating with customers and real estate agents every step of the way. Our technology helps the lending application process be more efficient, but our mortgage consultants are always ready to help. Wyndham Capital is the perfect blend of technology and personal service.

THE HOUSING MARKET is hotter than it’s been in many years, and there’s nowhere hotter than Salt Lake City.

“We have fewer homes on the market than the number of people looking,” said Marianne Rasmussen, senior mortgage consultant. “Utah and specifically Salt Lake is a very popular place right now.”

For Wyndham Capital, a newish entry to the Salt Lake City business community, this has meant a 2020-21 filled with an exhaustive ramp up for the company.

Rasmussen says what sets Wyndham Capital apart, both for its employees and customers, is a combination of technology and service that helps what can be a cumbersome refinance or new mortgage process.

“I think what makes us different is the smooth, online process we have,” she said. “We have competitive market rates, our fintech is award-winning.”

An industry veteran, Rasmussen appreciates Wyndham Capital’s customer-centric focus in smoothing a successful path to securing a loan.

“We can usually get all of the approvals, underwriting, etc., done in a timely manner,” she said. “We work hard to try and not drag out the loan process for you. Closing on time is important for you, the real estate agent and us.”

Rasmussen and the team of 10 Wyndham Capital mortgage consultants in the Salt Lake City office are geared up for the end of 2021 and 2022, and Wyndham Capital is so confident of this market, the company plans to hire many more employees.