Salt Lake City Area Real Estate Podcast with Jodie Osofsky

When should you put an estate plan in place? There’s really no right or wrong time. However, Eric recommends that you start thinking about it more seriously after you’ve bought a home or had children.

Another thing to remember is that an estate plan is something that you need to update continually. As your life changes, your estate plan should change too. For example, you may need to update it after you have a child or get married. Should the worst happen, you don't want an ex-spouse or former friend to be listed as the decision-maker on your healthcare directive.

It's something to get taken care of early

According to Eric, a typical estate plan will cost $1,000 to $1,500. It’s something smart to get taken care of early so that your family will be taken care of no matter what happens. If you have any questions for Eric or would like to hire him to set up an estate plan for yourself, give him a call at (801)-290-2130 or send an email over to [email protected].

If you have any other questions for me in the meantime, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you!

I was recently joined by my good friend and client, Eric Froisland, who is also a licensed attorney in the state of Utah. I wanted him to come by to talk about a topic that you probably have a lot of misconceptions about. I know I did. I’m talking about estate planning.

I think it’s really important for you to have an estate plan no matter who you are, and Eric agrees. Originally, I had thought the whole purpose of an estate plan is to keep the government out of your money and keep your family from fighting over your stuff. That’s part of it, but it’s a lot more complicated according to Eric.

Your will and your trust are actually what help your family decide what to do with your things. However, there are three equally important parts of your estate plan: your advanced healthcare directive, HIPAA release forms, and power of attorney. An estate plan isn’t only beneficial to your family, but it’s also beneficial to you personally. There are a lot of gray areas out there when it comes to the advanced healthcare directive that can be exploited if you don’t have a plan in place.

There’s really no right or wrong time to get started.

A lot of people want to know if they should do their estate planning online. While it’s certainly an option, Eric doesn’t recommend it. When you're sitting down with an attorney, they will cover issues that wouldn't be covered by an online estate planner. Online planners will treat you more like a number in the system.

If you have questions or want to discuss this further, please feel free to reach out to me. I’d love to hear from you.

Today I’m very excited to share a great listing in Sugar House. 

One reason I find this listing to be so special is that it shows you can live with a family in Sugar House while still having access to modern amenities. 

This two-story, 3,000 square foot home was built in 1938, which is unusual for the area. 

Living with a family in Sugar House while still having access to modern amenities is possible.

In the master, you’ll enjoy high ceilings, a walk-out porch, and a fabulous walk-in closet. 

Just off of the master, there’s also an office space and a wet bar. 

Of course, this is just one room of the house. If you are interested in the home and would like a personal tour, I would love to share all it has to offer with you.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Today I’m visiting Tinker’s Cat Cafe, which just opened last week.

The walls were covered in places for them to climb and the floors had plenty of comfy beds and rugs for the cats to relax in while we humans enjoy our food and drink.

Whether you want to snuggle and play with the cats or simply watch them explore, Tinker’s is so much fun.

Each and every cat at Tinker’s is up for adoption.

The best part is that each and every cat at Tinker’s is up for adoption. When you visit, you could be leaving with a new friend.

Even if you don’t plan to adopt, though, you can still enjoy the therapeutic benefits of spending time with these sweet felines.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

I’ve got the latest numbers from the Salt Lake market update. We’re approaching the fourth quarter, so this hopefully this update will help you understand what’s going on in the area as we make the transition.

Let’s start with rates. The interest rates continue to be pretty low, though the Fed is threatening to raise them in December, so we’ll see what happens when that decision is made. Currently, conventional interest rates hover slightly above 4%, and FHA and VA rates are just below 4%. All in all, interest rates are still very good, keeping buyers active in the marketplace.

Though it softened up at the beginning of the fall, the market is still very strong and we’re seeing multiple offers again.

Interest rates are still very good, keeping buyers active in the marketplace.

Values have plateaued. This can be seen as a good thing since they haven’t continued to rise and make housing unaffordable to most people.

Here are a few statistics for you:

As I said, we’re in a good, healthy market. Despite media scare tactics, there’s nothing indicating that a bubble or a crash is imminent.

If you have questions or want to discuss this further, please feel free to reach out to me. I’d love to hear from you.

It’s that time of year again. Property tax season! Most municipalities are adjusting values and therefore raising taxes. You probably have already received your notice this year, but I wanted to make you aware of a few different things about them. 

You’ve probably already received your notice in the mail.

The first thing you’ll get is a notice in early fall. Then a month or two later, you’ll receive a property tax bill that’s typically due sometime in November or late December. It’s important to note that this bill is something that’s typically included in your escrow account. Your mortgage company actually mails out that check. Before you decide that you need to pay your property tax bill, check with your mortgage company to see if you already have. 

If you have any questions about this or about protesting your property taxes, I’d be glad to assist. Just give me a call or send me an email. I look forward to hearing from you soon.

Today, we’ll be talking with Ed Blake at Habitat for Humanity.

Ed: We provide affordable housing for families in need. We don’t give them the house; they get a 30-year, no interest mortgage, and they pay back every cent we give them. Habitat for Humanity also does critical repairs, primarily on homes that are making people sick.

Another service I’d like to talk about is our Habitat for Humanity ReStore, which keeps 781 tons of refuse and turns it into money that comes into our affordable housing program.

A lot of this product is new; people think it’s all used or garbage, but a lot of it is actually brand-new. The story goes quite often that if you come down here and you can’t find what you want, just wait a few days—it’ll come in eventually.

These are all building improvement items for homes. On the real estate side, if you hear about a family that’s going to take out the kitchen as soon as they move in, donate those materials to us. You’ll come down here and sell or donate it—you get a tax write-off for it as well—and we can also send a truck out to pick it up for you.

We provide affordable housing for families in need

If you’re going to to be tearing out your bathrooms or kitchens, contact the ReStore and see if it’s a fit for them to come pick up those materials. You get a tax write-off, and you won’t have to haul it to the dump and pay to get rid of it. They’ll absolutely reuse it. Beyond that, if you’re doing any home projects such as finishing or redoing a bathroom or basement, please stop by the ReStore for any number of supplies. There’s furniture, tile, cabinets, appliances, and much more.

Ed: The people who get these homes are people in the community who are earning 30% to 60% of the area median income, families in need, and often single parents with their children, which is our largest demographic.

Please keep that in mind, and if you’re looking to volunteer, Habitat for Humanity is always a great entity to work with. They are located at 1276 S 500 W, Salt Lake City, Utah 84107. You can also follow their activities on their Facebook page.

If you have any other questions, don't hesitate to reach out to me. I'd be happy to help you.

Have you heard of disc golf?

This activity has been a favorite of my husband and I since we discovered it a few years ago. There are many disc golf courses across the state, but today I’m at the one at Creekside Park. It’s quite fun, very popular, and highly rated.

You don’t need to be skilled at disc golf to have fun.

To play disc golf, you simply throw discs (or frisbees) at designated targets. A lot of golf terminology is borrowed for this game, and you don’t need to be skilled at it to have fun. It’s perfect for a day at the park—you can get some exercise and enjoy some competitive sporting fun!

If you’re familiar with the sport and want to meet up with us sometime for a game, feel free to get in touch with me. If you have any real estate questions or you’re thinking of buying or selling a home in the Salt Lake area, give me a call or send me an email. In any case, I look forward to hearing from you.

I noticed so many great trends at Salt Lake Creative Homes that I couldn’t fit them all into one discussion, so here’s the second half of my top 10: 

6. Light fixtures with Edison bulbs. This was a really big one—I don’t know if there was a single home without at least one fixture with an Edison bulb in it. If you’re considering redoing your lighting, keep this in mind. 

7. Open shelving in the kitchen. This is a neat concept if you’re really clean and don’t have a lot of clutter in your cupboard. 

If you’re considering redoing your lighting, keep Edison bulbs in mind.

8. A free-standing tub in the master bathroom. This has been a hot trend for the last three or four years. This wasn’t in just the high-end homes—it was in several other homes in the master suite as well.

9. Pendant lights in the bathroom vanity. This was a new trend this year. Instead of just the light bar, they had pendant lights that hung down in front of the mirror. 

10. Crystal resin doorknobs. Door hardware was a big thing. It was very rare that I saw a traditional lever or doorknob. Everyone had their own take on door hardware, and I love it because I myself was searching for hardware because we’re redoing our doors this month!

If you noticed any trends I missed or have any questions about any of these trends and applying them to your current or future home, don’t hesitate to reach out to me. I’d be happy to speak with you.

I noticed some great trends at Salt Lake Creative Homes this year. I’ve got a top 10 list but today, I’ll just go over the first five.

There are definitely a few things I noticed that are emerging as common themes in the national housing market.

1. The chalkboard wall. Several homes had a chalkboard wall. Some had them in common rooms like kitchens, while other homes had chalkboard walls in children’s rooms.

2. Patterned tile. I have mixed feelings about patterned tile. When I say patterned tile, I mean that the tile itself is arranged in a certain pattern or has a certain geometric shape. For several years, I’ve been telling homeowners to get rid of their 1970s patterned tile, so I’m struggling with the fact that I’ll have to do that again in five to seven years. But I guess some people think it’s cute right now.

I did like the patterned tile in one home. They just had a small backsplash with patterned tile, so it wasn’t overdone. If you have to do patterned tile, I would definitely recommend that you use it in small amounts.

I recommend using patterned tile in smaller spaces, like backsplashes.

3. Wall treatments. Many people are dressing up walls with painted boards or repurposed barn wood. This is a cool way to make your room look unique.

4. Gray cabinets with blue and green tones. These cabinets are really pretty and a refreshing change from all of the white kitchens we’ve seen the last few years.

5. All-white exteriors. Homes are being painted in white or off-white colors. There are even some painted brick homes out there. These homes are then paired with a black or dark brown roof and gutters, which creates a very sharp look.

Stay tuned for my next video where I’ll go over the last five trends from Salt Lake Creative Homes.

In the meantime, let me know if there are any other interesting trends that you’ve noticed or if you have any questions. I look forward to hearing from you!