Knowing the exact market value of the property gives you a better hold over your property sales, refinancing, taxes and insurances. It is also important if you are going to buy a property on that particular day. Along with this, it also gives a proper estimation of the investment strength and equity of the property. As real estate is a varied market even within the same locality, it requires proper analysis of involved aspects. If you are buying or selling your Park City Area home, having the guidance of an expert like Utah Luxury Real Estate Group will assure that you get perfect market value for your property.

What is market value?

Market value is what is the cost of the property under present conditions. It is affected if the party is under pressure to finish the process due to factors like family issues or relocation. It requires analysis of many influencing factors but it will save you loads of money if you apply the correct approach. The exact value of any property is dependent on the detailed process of considering impactful players in the process. 

In a property sale, sellers will have a proposed value and try to find buyers who are in the same estimates. Also, the buyers will vary and press down the prices depending on their research and market value analysis. This complete process is never constant and varies according to market ongoings. Many factors influence the price of the property irrespective of changing market conditions.

Below are the factors that will influence your home's market value, including:

• External features: Property condition, portion size, Trends of a particular type of architectural, drainage systems, pavements, surrounding environments, etc.
• Internal features: Property construction quality, present condition of the property, utilization of energy, number of rooms, etc. 
• Demand: The total quantity of properties for sale and the number of buyers also influence the rate of property in a particular area.
• Location: There would be an already established market value for a particular location that will influence the total sale.

How to determine the exact market value of a home:

Determining how to know your property’s value with the assistance of tools and expert professionals aids you effectively sell, buy, refinance and get lower property rates which will hugely benefit you.

Below are a few methods to follow for assessing the exact market value of your property: 

1. Using an online comparative valuation tool: With the use of an effective valuation tool, you will get a fair estimate of the property’s market value. They will not have any biased results and provides near accurate value. You must ensure that you enter all the upgradations to your property after your ownership as these factors will have a huge impact on the value of the property. They make use of public records such as ownership details, property transfers, tax valuations and blend them with unique calculations to provide the exact value.

2. Perform a relative market analysis on the property (CMA). This is a process of comparing your property to similar properties to develop a mathematical breakup. It includes the worth of your property, relative to neighboring properties with similar features. This process is very important to know the right price in the current market conditions.

3.Property appraiser for performing an appraisal of the property: If you have an expert property appraiser, it will largely benefit you. The property appraisal report from them will have a huge impact on sales. You can get an exact value by using the services of more than one appraiser. Later, you can take the average of those values to get the perfect rounded figure. As a property owner, you can use the services of an appraiser at any time of the year. This is a proven method, a majority of the US property owners know the value of their homes via the appraisals.

4. Research of surrounding similar properties: Find the lately sold properties in the neighboring area that are alike to your properties in overall size, square feet, conditions, and other features. Sum up the final sale cost of every property and then divide them by the total number of properties to know the average selling price. To know the average per square feet value, divide the average sale price to the average square footage of the property. You can get your property value by multiplying this average price with the total square feet of your property.

5. Know the tax assessment: Visit your local taxing firm and get the property tax assessment for your house. You can also assess by knowing the rate of taxation by knowing the property value percentage and dividing them by tax rates. This will help you to know the exact tax value for your property. 

Overall, determining the accurate property value will allow you to analyze your total budget and also get the perfect value for your property. The majority of Americans feel that it will provide a fair estimate of the overall financial health.

Bottom-line:

Regardless of your plan for selling, refinancing or assessing taxes for your property, it is important to rightly asses the market value. Even if you want to buy a home in the coming days, knowing the exact market value in your locality will help to save you from paying more than its exact value. If you are staying in Utah park city area and planning to buy or sell a home, then the Utah luxury real estate group should be your first-choice realtor. They possess the required experience and skills and have a team of award-winning professionals for processing your job. They have a splendid knowledge of all the factors in Utah park city area you will be ensured of covering all possible aspects. As a prospective seller or buyer, you will get a reliable association in your property selection who will effectively know your requirements and act accordingly in the process.

Successfully selling your home for the best possible price in a minimal amount of time needs much more than just posting a few ads. Selling the house is a big transition to execute, and could be a stressful experience if it is not executed appropriately. Getting ideal results requires proper analysis, right preparation, ideal marketing tactics and importantly the expertise of an experienced professional to guide you through the complete sale process. If you are planning for selling your park city area home, then you need to partner with Utah Luxury real estate group for a successful experience. 

Home selling process:

Below are the processes that are to be followed for successfully selling a house.

1. Finding an effective real estate agent:

If you do not want the trouble of researching and doing things on your own, then associating with an effective real estate agent could prove to be crucial in the process. You need to look out for a few important factors while choosing realtors.

·         Search for local real estate agents and then analyze the online reviews about each one of them.

·         Contact best of them for the queries and spend at least 30 mins with each of them.

·         Select the agent that you feel suits you the best.

2. Discovering the worth of your home and pricing it.

It is very crucial to know what is the condition of the market before listing your home at a precise price. The best method to find this out is to compare the Market Analysis report that shows the pricing of similar kinds of homes around the vicinity that have been sold recently. An experienced realtor would help you determine the best price for your home.

3. Make required repairs/replacements.

You can look at your home for and prepare a list of all the things to be repaired, replaced or cleaned before showing the home to potential buyers. You may not want to perform everything but just look at the market price and decide on the necessary items that need attention in the expected period. After repairs are completed you remove if any personal or extra items from the home so that potentials buyers get a good view for their expected home. You need to also ensure that your home is cleaned and all the necessary equipment is working properly as potential home buyers find every detail to appropriate.

4. Mention of seller disclosures.

It is important to mention all the problems in the home by providing complete disclosure or if there any issues like rodent harm, pests, any leakage, defective wiring, cracks in the flooring, etc. and also mention of how the issue can be corrected. It may be crucial for people with any health issues.

5. Marketing the home.

Effective marketing of the home is required for getting an apt response from potential buyers. A good realtor would be experienced in taking all the necessary actions and advertise your home properly in all the necessary platforms for getting you a perfect value for money.

6. Display your home.

You can conveniently speak to your realtor about displaying your home to the potential buyer: By prior appointment or by lockbox. 

If you stay in the home currently, then the prior appointment is a better option. You will get the appropriate time for making all the necessary things ready before the time. 

Lockbox is best if you are not staying in the house and the realtor will make use of it while entering the home during the appointment time. It will also improve the number of showings to potential buyers. 

7. Obtain and negotiate a purchase offer.

It is evident that if you have done proper research to find the exact market value for your home or hire an effective realtor, then you will get many offers. There are instances that buyers may ask for less price but you need to stick on to your price that was fixed by looking into all the factors. There are also chances that other realtors may want to get the maximum benefits for their buyer clients.

8. Hiring a Title Company.

After an offer is accepted then you need to hire a title company. If you have associated with an agent then he will probably introduce you to suitable title companies, but you can also go on your own if you already know an apt firm. You can check all the factors and select the one that offers you with the top closing quote and help you with finishing all the procedures to close the deal properly.

9. Home inspection and appraisal:

After the offer is done a buyer may hire a home inspector to verify the complete home for any issues. If the buyer is planning to use any financing to buy the home, then the money lending firm will use the services of a third-party company to evaluate the present market value of the house. Depending on that particular value, they will decide the amount of money that can be financed to the buyer. If the evaluation is less than the asking price for your home, the buyer may also ask you renegotiate the deal. If the buyer cancels the agreement then you could contact your lawyer for further proceedings or your realtor agent will guide you for further actions.

10. Signing title and escrow documents:

You will have to thoroughly lookout for all the coverages by title company and mortgage lender or your realtor will do this for you. After this process is completed, you will hand over the keys to the new owner.

Bottom line:

It is important to hire the services of experienced and result-providing realtors like Utah Luxury for selling your Park City area home. They have a huge network of sellers/buyers in the local real estate community and will give you complete guidance during the process. This will aid in selling your home at the best possible price and finest terms.

Here's a quick snapshot of the 2019 Market Statistics for the Greater Park City area. Look for the in-depth MARKET PULSE REPORT in your inbox in a couple of weeks!

Greg Miner, J.D., Crystal Robinson, and Matt Green
Greg  435.668.7771  |  Crystal  435.655.1335  |  UtahLuxuryGroup.com

If you are planning to buy a home, then the most crucial step is to find a genuine real estate buyer agent (partner) you realize your requirements, knows the current market well and has the experience in leading you to the best buying of your home. Buying a home is a big monetary decision that you make, and discovering the best partner to represent your needs is important in getting the finest return on the investment. If the choice is right then the process will be completed without any issues. But if the partner is not worthy, then you may have to face many problems in the future. Agents at Utah Luxury real estate group will ensure that your transactions are safe and you have real value for the investment, by ticking all the crucial elements of buying.

Advantages of having the right buying agent as your trusted partner:

A genuine and expert partner will:

• Assist you in financial choices with the pre-approval procedures and thereby making you spend wisely.
• Help completely in your home search with extensive property tours and the inspections that are necessary before finalizing the deal.
• Negotiate in the right way and also eradicate any disputes during the buying process.
• They will look into full details about every possible property with the information that you may not be able to access.
• Assist you in understanding all the related documents, manage evaluations required in the process.
• Exact knowledge of token-money, escrow accounts, and closure payments.
• Coordinate with you and the seller’s agent to have a hassle-free and smooth closure.

How to select a trusted real estate partner?

Take a look at the below points before selecting your real estate partner in buying a home.

1.Create a Short List of Agents:

With the internet world, you can easily find many real estate agents nearby your area with a search on real estate websites. Many websites show a complete list of agents with their client testimonials and recent listings. This will help you to look at the agents who have recently associated with buyers in the required area. It is also a good idea to inquire about your friends and relatives if they know a genuine real estate agent with whom they have associated before that may help you in the initial shortlisting.

2. Speak to an agent and analyze:

After shortlisting potential clients, the next step is to speak to them. An in-person meeting will help you to know the person, what are their ideas and whether their values are matching your personality or not. Since they would be the persons who will lead you in the most crucial and financially important process, you should have a good feeling while you communicate with them. You don’t need an agent who hides bad news or wrongly depicts them. They need to be truthful at every stage. Make sure to ask the below queries in your first meeting.

·         How accustomed is the agent with the areas that you’re looking for?

·         What are the on-goings in the locality that you must be aware of and how they may influence the home values shortly or in the future?

·         At what intervals will the agent show you new listings matching your requirements and the availability of the agent is showing the property?

·         Are they aware of any other professionals required during the process?

·         What is the standard successful buying process timeline with the agent?

·         What is the number of homes that a buyer sees with that particular agent before making a successful purchase?

·         Will the agent accompany every home inspection?

·         What is the sale-to-list ratio of the agent for the latest transactions? 

3. Look for honesty:

The best way to review an agent’s work is to analyze their previous works, importantly the method they market the other properties. Look for their listings, websites, brochures and also their appearance. They should be honest in their approach and the showcasing of the previous works. You must have a feel of calmness and reliability while communicating with them. If they try to pressurize you or try to make you compromise on your needs then you must refrain from them.

4.Risk mitigation:

A genuine buying agent should be honest about all the buying details. It is very important to associate with an agent who eliminates all the risks and is realistic in the approach. Major factors like investment research, current market trends and future impact of the property are very crucial and agents need to be having real data in the information they provide to you.

5.Request references and verify:

Request the buying agents to give the information with contact details on the homes they have sold in the recent times. Speak to those clients to know their experience about the agent and what kind of assistance they got throughout actions like inspection, listing, negotiation and legal procedures. If they still like the agent and recommend for their next process too, then you can trust the agent.

6. Check their license:

You may find an agent who may have a fraud with the real estate license. Hence you need to check whether an agent’s license is genuine or not. The searchable database by the Association of Real Estate License Law Officials (ARELLO) will show you whether the license is genuine or not. A registered real estate agent will also a member of the National Association of REALTORS (NAR).

Bottom-Line:

Your buying agent or buying partner must be persistent with you and your situations. They should be dedicated to safeguarding your interests across the entire process with professionalism and work ethics. Buying a property is one of the biggest financial decisions of a person’s life. Therefore, having a trusted partner in your home searches like Utah Luxury real estate group with proven work quality and experience to guide you through the complete transaction is the key to the smooth completion of the buying process.

Deer Valley is the best place for enthusiastic skiers and also with a calm and great scenic view, it has become a new real estate hub. It is also nearby to dining and the lures of Sundance/Nightlife. There are many properties nearby that have wonderful homes with excellent amenities and access to the largest ski resort, deer valley. With Utah Luxury Real estate, you will be assured to get the finest townhomes according to your needs.

Why is Deer valley best for owing a home?

Every ski base area at Deer Valley (Jordanelle, Snow Park and Silver Lake) consists of a protected place devoted to ample ski storage. Hence it is not necessary to pull along your skiing kit again and again. You can easily keep all your equipment in the evening and take them back again in the morning. There is also a limit on the number of skiers in the Deer Valley, to make the mountain not to get very crowded. So, the lift tickets are sold with a limit on the number. There may be variation in the number of tickets issued relying on the condition of the weather and trials but you will be sure that you won’t have to wait for long for getting your space on the driveways. There is also a provision for just confirming your arrival with a text. Hence with all these factors, Deer Valley has become the latest real estate hub for all those passionate skiers and scenic view lovers. The food at Deer Valley is one of the finest in the country. There are many restaurants settled in the resort, like the Mariposa at Silver Lake, The Brass Tag Royal, Street Cafe and also with the best lodging food options it becomes a prime option for stay. 

Few best properties in Deer Valley:

2900 E Deer Valley Drive Unit 5136, Park City:

This is a special type of property at Deer Valley that includes private access with a heated pathway. The dwelling place has a splendid view of the Deer Valley ponds to Park City Mountain resort with comfort of arched ceilings and ample natural light. A bedroom is present upstairs that has good space for a large bed, lounge area and free views with the French door facility to feel the fresh air. It is also updated with new upholstery. 

1186 Pinnacle Dr. Unit 35, Park City:

This property has a splendid view of deer valley with completely furnished 4-bedroom, 4-bath facility. It was completely revamped with countertops of granite, blend of natural and wood flooring, kitchen with customized tile works in kitchen and bathrooms, windows and doors with triple-pane pela, latest ovens and microwaves, the best stone fireplace and pool table in the downstairs family room. It is the best option to visit.

2700 E Deer Valley Drive Unit B301, Park City, UT 84060:

This marvelous 2 bedroom mountain facility is easy to access with a walk to the slopes of Deer Valley. With many modifications a few years back and the addition of all modern amenities like water heaters, HVAC, cupboards, granite counters, steel appliances, and washing machines. It has a private floor with a master bedroom and living room, underground parking with ski locker for the owner. Visit to see and enjoy the stay if you are interested.

1416 Deer Valley Drive, Park City, UT 84060:

It is positioned inside the Fawn grove community in the Lower Deer Valley area with a wide two-storied unit that has the best mountain views and oversees the famous deer valley café and a beautiful pond. It has a very short drive to the main street and an easy reach to nearby Snow Park lodge for skiing. With curved ceilings, the latest appliances, 2 large bedrooms and a marvelous view with just a minute drive from all the enjoyable activities. It has a special heated underground parking facility for the owners and located on the free bus route so that you can reach any part of the town very quickly.

1955 N Deer Valley Drive Unit 303, Park City, UT 84060:

This property is situated in the center of Deer Valley with 2 bedrooms and one level dwelling. It has been recently upgraded with modern bathrooms, new flooring, granite counter places, etc. It is located nearby to all facilities like the base of the deer valley with a very short walk to the Main Street and visible bus stop. You can enjoy the beautiful view of the Dear valley in the snow season and experience paddleboarding in the summer. Such type of locations is very sparsely present in the town.

For more information about such more properties near to Deer Valley, visit Utah Luxury website at https://www.utahluxurygroup.com/

Bottom-Line:

Property buyers for living in the ski town of Deer valley would have thought about all the facilities and activities in the cold season with the snowing weather. But how about living in other seasons of the year? After the spring season, summer arrives with calm days and cool nights. The town would be always busy even during the offseason as many events are happening in the town. Hence the people would love to spend their time here in summer with the same enthusiasm as in winter.

Utah luxury is a luxury vacation rental management company operating in some of America’s most beautiful and iconic destinations. It has all the information covering every property with all the latest home design trends and luxury living in Utah. With the best-located townhome in less than one minute’s drive to skiing in Deer valley and tailored care of our every location-based professional property expert, we make sure that you get the best experience in the duration of stay and provide you with the top-notch property information in Utah. Please reach out to Utah Luxury if you are in search of the best.