As we have already posted, we know that the real estate market is changing. But not just, in price values. There are several different areas changing, one of them includes Home Owners Insurance Policies.

Last year home owners insurance regulations changed. The old regulations kept track of the claims according to the owners. Now when you purchase a home the policy would change according to the new owners. However, the new regulations keep records of all claims made on the home. If you purchase a home with several claims already made, they carry over to your new policy.

A good way to reduce the claims on your insurance is to purchase a home warranty every time you purchase a new home. Home warranties cover the home for the first year of ownership and can be extended for an aditional fee. When there’s an issue you make the through the home warranty instead of insurance company. This gives you one year for any problems to occur that you can claim without having them add up on your insurance policy.

A basic Home Warranty Plan costs $275.00. Covered items include central heating(furnace), water heater, kitchen refrigerator, oven, range, and cook top, interior plumbing, and garbage disposal, interior electrical system, built in dishwasher, garage door opener, and ductwork. Upgraded Home Warranties can go as high as $450.00 they can cover iadditional tems such as the washer and dryer, Built in whirlpools, Central vacuum systems, Well Pumps, central a/c units and others.

It has always been a good idea to purchase a home warranty plan. However, with the new insurance regulations it is an even better idea to make sure that a home warranty is included in the purchase. In the standard Utah Real Estate Purchase Contract (REPC) there is a specific section included for Home Warranties. Most sellers are willing to pay for the Home Warranty.

We have had great success with clients who have filed cliams. Usually it is $50-100 per claim. I had a client a few years ago who purchased their in the winter and once the spring thaw came they had a frozen hose bib that burst. At the same time the water heater went out. This $1000 problem only cost $100. Thankfully we asked the seller to include the warranty. We recommend one in every purchase.

Every year, the number of real estate agents increases.  It feels like almost everyone has a brother, cousin, friend or in-law who is a Realtor.  The industry competition is rising.  But what does it take to be a successful and professional real estate agent?  Owning my own Real Estate Company has given me lots of experience with professional agents and brokers.  I’ve listed a few qualities that I think make a professional agent.

The first is good COMMUNICATION with all parties.  I need to initate and return calls.  For me personally, it is important to be able to listen to my clients needs.  If I am aware of what is truly important to my clients, then I am in the best poisition to serve their needs.  Also, it is important  to help them identify thier true motivations, so they can make difficult decisions more readily.

It is also important to be able to tell my clients what I know and not just want I think.  I am constantly searching for new information to help my clients.  Utah Real Estate is constantly changing, it’s vital to stay updated and educated.  I want to provide the most resources I can, allowing my clients more options.

On of the most imporant qualities of a professional real esate agent is HONESTY.  In a recent artivle by Kano Ayala, 10 reasons are listed as to why people fail.  Shadiness is number 10.  He states “Ture, some people make money being shady, but they’re not really successful.  They are failures of the worst kind.”  I’ve been selling real esate in Utah County for 6 years.  In this business, agents have a reputation for being shady, dishonest and can’t be trusted.  A good agent will avoid mistakes and should be honest at all times.  Most errors, mistakes or misrepresentations can be avoided with good communication and attention to detail.

Please feel free to share any experiences that you have had while working with a realtor.

As your real estate agent, I want to inform you about a goverment released report.  We all know that real estate has recently appreciated but by how much?  Utah has had the highest home price appreciation in the fourth quarter of 2005 and the fourth quarter of 2006.  The office of Federal Housing Enterprise Oversight’s House Price Index has released statistics that show a rate of 17.6 percent appreciation in the Utah metro areas.  Utah County especially the Provo-Orem area was ranked third in the Nation with a rate of 19.92 percent appreciation.  Salt Lake City came in fourth with a rate of 19.76 percent appreciation.  Please post a comment and let us know what you think.