Homeowner’s insurance protects a homeowner from natural disasters such as floods and fire. Home warranties cover the mechanical features and operating systems of the home with a service contract. Dan Lewis from Majestic Home Warranty compares home warranty and insurance to car insurance and warranty - they are essentially the same type of coverage for two different purchases.

Prices have skyrocketed over the past 30 years. Home prices keep going up, and affordability has gone down. Consumers are also having issues coming up with the down payment money to purchase a home. If you buy an owner-occupied four-plex with an FHA loan, you only need 3% down to own this home. Brian Pitcher from EXP Realty chats about the value of buying and renting a four-plex and when you should hire a property manager to deal with renters.

Today’s episode talks about the pros and cons of different loan programs with Rachel Thorell with Citywide Home Loans. Rachel educates us about the different types of loans, why you may not want to take out a conventional home loan, and red flags to look for when shopping around for a home loan officer.

There is No Such Thing as a Perfect Mortgage

“No two people are alike; everyone’s situation is different. What may be a good loan for you may not be a good loan for your sister or coworker.” Rachel recommends finding a mortgage lender that will take the time to find out what your needs are and look at your loan situation to figure out what that perfect loan looks like for you.

Alan Matheson is the executive director of the Point of the Mountain Authority. Alan’s responsibilities include overseeing over 600 acres of the Draper Prison build at The Point.

Last year, the board identified principles to guide the process of building and promoting The Point. Promoting public interest is at the top of their list. "This is state land that is owned by all the people in the state. We need to make sure that we are doing things that benefit people's lives in this state.

Secondly, they want this project to be a model development that shows new sustainable ways of building, and that can be a prototype to guide future developments in the state of Utah. Third, they want to think regionally to see how this project fits in the piece of a broader puzzle. Next, the board considers the long-term impact of the project. "Rather than build this fast, we want to take the time to build it right. We need time to do that."

Along with the above principles, Alan says that transparency and acting with integrity are essential aspects of this construction process and the values mentioned above.

The Public Vision of Point of the Mountain State Land Authority

The shared vision was translated into legislation that created the Point of the Mountain State Land Authority. “The legislature set out objectives they wanted to achieve for this site.” Among the goals for this project are job creation, workforce development, and improving residents' quality of life in the surrounding area. This also includes a future-focused transit system and balancing jobs and housing to generate fewer trips for less impact to traffic. “Having a focus on innovation and creating new ideas that can help solve problems here and around the world.”

With the addition of millions of residents, planning for residential communities is crucial. Kevin Ludlow, the president of Sequoia Development, is chatting with us today about successful development components.

The process for Kevin has changed since he first started creating and designing developments in 1988. “I remember I took a sketch into the city, and I had about three pages of hand sketches, and that’s what I used to get the project approved.” Today, there is a more complicated process of committee approvals, permitting, and review boards, which can take up to a year before you get approval for your project.

In today’s episode, we talk with Kyler Story with EXP Realty about Airbnb rentals and how residents can make money renting out rooms in their homes. We walk through the process of how you can create an Airbnb for yourself!

We have Mike and Catherine Garff from Garff Group Realty, who started investing in real estate when they purchased their first home. In this episode, we talk about house-hacking, why foreclosures aren’t a good deal anymore, why you want to be the first in line for a buy, and why you should be open to buying so you don’t miss investment opportunities. You can use a previously purchased home as collateral when purchasing a second home. When you invest with this process, you can typically get a second home loan for less than 4% down as an owner-occupied home gets better interest rates than an investor home. “I would never own a home I’m not willing to live in, even for a rental property.” When choosing a property to purchase for use as a rental property, she pictures herself living in the home. “I think the way I look at it is a little more personal to me,” says Catherine.

Today’s episode takes on remodeling and creating a better space in your home basement. We are chatting with Bret Peterson, owner of Ace Construction, ETC. on the importance, cost, and legality of getting permits for your remodel, the benefits of having a licensed professional work on your home, and how hiring a licensed professional contractor is less expensive than purchasing the materials yourself!

Where to Begin When Remodeling Your Basement

Bret gives his expert advice on how to start your basement remodel project. “Depending on the size of the project, you have to decide if you want a handyman, if it’s a DIY situation or if you want to get a professional involved in your remodel.” Make sure to ask around, get referrals from your friends, and determine what permits you need for your project.

Do I Need a Permit for a Home Remodel?

From Bret's perspective, "The biggest red flag is if a contractor suggests that you don't need a permit." If you're working with a contractor, they shouldn't ask you to pull the permit, and they should never do work without a permit. "The only reason a contractor wouldn't pull a permit was that they aren't licensed, contractors." Permits are your protection from construction liability, the legality, and double-checking the quality of the work.

Almost any development that you see on the East Bench of Salt Lake City is Infill Development. This process takes a lower use property and turns this same property into better use for the community. Usually, this ends up, resulting in higher density, newer use buildings that revitalize an area.

Building with Infill development, your new residential homes are more affordable and enhance and beautify an area in an already developed city by taking little pieces of a city and redeveloping to revitalize and reactivate the area. Ashley Atkinson Williamson with Sequoia Development takes on the shortage of Utah Real Estate and how to create more housing. We review with Ashley what’s happening with Infill development, residential rooftop space use, and Adaptive Reuse projects in Utah real estate today.

Over the past year, many of Utah’s home owners have found themselves fielding multiple offers on their listings. Nick Kolkman, Associate Broker at Realty ONE Group Lifestyle, discusses why it is important to work with agents to “shop the top offer” to get the best deal possible.