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Show Briday. May 24, 1996 THE DAILY HERALD, Home Magazine. — Page 3 Utah market activity continues Renovation advice Orem— The Utah County real estate market remains active, although appreciation has flat tened out from previous boom years as buyers resist higher prices, according to Utah County Association of Realtors February listings of both he can smooth way This introduction to 2 new book, “On Time and on Budget.” asks some excellent questions. To his credit. author John Rusk answers all of them. Rusk should know. He is the ownerof a high-end renovation company and another business specializing in plaster molding. Rusk also is a founder of the American Renovation Association, a group dedicated to serving homeowners, architects and contractors in their renovation needs. A graduate of CamegieMellon University, Rusk studied the construction industry at the Program for Negotiation at Harvard Law School Many of the chapter titles in this book reflect the positive thinking he imparts to the reader: Solutions to Money Problems, Solutions to Time Problems. Solutions to Management Problems, Solutions to Quality Problems and condomimums totaled 1,794 up 46 percent form February 1995 and sales numbered {52 up 24 percent. The average sale was $121,501, showing only a 3 per cent gain in appreciation from a year earlier and down form the and so on. Rusk doesn’t just outline the problems, he spends moretimeoutlining the solutions. When he iackles the quality problems, Rusk has the courage to point out that it isn't always a matter of builder quality but the cus: tomer as well Take door bh: idles. instance. If you have er of contractor respo selecting this hardware. you"! probably cad up paying more for the handles because there's a fee involved. To avoid this fee, choose your own door handles and give them tothe $131,961 average posted in January 1996,said Dale R. Kemp PCE EECeye | By NICK HARDER Orange County Register “You're thinking about building that extra room or remodeling the kitchen or installing a vanity in the bathroom. You're too busy to do it yourself so you wantto hire an architect and a contractor. “But you've heard so many horror stories about home renovation, and you don’t want the same thing to happen to you. How do you make sure the contractor Is giving you a fair price or that he will finish your renovation when he says he will? How do you get the architect to oversee the entire project from beginning to end? How doyou avoid paying for costly changes and sull make sure you get a beautiful renovation a on time and on bud contractor. This method can work, and you can save money. But you might not pick out good-quali ty door handles. They might look nice and cost a lot less than handles a designer or contractor picked out, but will they lust? In too many cases, you'll end up spending more money in the long rua to replace broken handles you've selected, Rusk says. president of the Utah County Association of Realtors. The average asking priceis dra. cent of the homes price at $175,565, which is only tly less about | percent from the asking price a year ago. months Listi increasing, matically more than the selling But the median listing price remains the same as February 1995 at $135,000 “What this means,” said Kemp. is that the trends over the past several months are continuing.” He noted that the county has a high number of active listings including homes that are under contract. with sales only slightly above 1995 levels. But the mar ket ty experiencing a declining numberof sales compared to list ings. Currently, less than 10 per Sold over the listed over $250,000 are butsales are very this category, said Kemp ple who want to sell a house t $250,000 are advisedto hire a itor with an aggressive market ing plan, he said The run-oway sel Ss’ market ts gone, but it has not moved to a buyers mark he 30notie that on Home “ap away. You'll find many sellers are more anxious to bargain when rates move up, since buyerinterest bee s to diminish. in other words, opportunity could by knocking! For instance, you can gain low rates and a fixed payment schedule by choosing an adjustable-rate mortgage (ARM) which has an initial Persons suited for these unique ARMsinclude those who: * believe their family income will raise in the future. + plan to move before the initial fix -rate period is over. * expect to refinance the mortined before the ixed rates have saving a home can improve the quality of your hfe, and help you build financial assets. Finding a sure of a year ago it's below the sales of the last eight months 374-1500 ’ 190 south 1600 West « Prove Developed by KAD CONSTRUCTION Eaare nena Hepor mem, sales pre B2E 800 8% town peymert XC year commana tae we 2? oe moo — ee fantrate peri- loan that makes od. "ARMs available with th ON Mortgages fixed rates for upto ten years. However, you also can choose initial fixed-rate periods of one, three, five, or seven years Opting for shorter fixed-rate periods gives you a lower interest rate. You can save substantially on your monthly payments, when ARARRRRREAST EET ETD home ownership possible — rather than waiting for the lowest rate — could help you make your move to that dream home soon. Mark Bramwell is a mortgage banker for M&T Mortgage in Utah County. For a free subscription to his monthly newsletter call 371-0750. Column suggestions and comments are welcome. - Quality Townhomes and Condominiums 1330 South Geneva Road — Orem ben *2or3bedrooms *Open & spacious floor plans: * Lots of storage * Decks & Patios * White on white * Club House * Laundry Rooms * Townhomes With Fireptace Option * Play Ground + Exercise Center =» Central Air said. Although the average sales pnce Adjustable mortgage aids in buying home have past several GE. appliances * Baaksthell Court Marketed by: Jeff Southard ‘entral Realty |