Show iEbteialtaketEribunt SUNDAY July 24 1994 REAL STAT CLASSIFIEDS Page G-- 2 Utah Home Sales Remain Robust of the rock band Van Haien has sold his Malibu home of Idaho Utah for close to its last ask ing price of about $17 been with Van Haien since 1985 5000- - house at $225 million in May 1993 after he and the band left on a world tour Hagar 46 now lives mainly in Mill Valley but is leasing another home in Malibu while spending the summer with the band recording a new album The home that Hagar sold is a contemporary Cape Cod on a bluff over Broad Beach It was sold to Yuri Spiro owner of Westwood-baseWest World Productions a computer publishing company square-foo- t t Box Elder residents remains strong "The higher interest rates bothers peoples' ability to qualify for a mortgage loan" Welch said Meanwhile he said the strong demand for housing in his area is forcing home prices upward "That is the result of more than one person wanting to buy the same house Appraisals of homes have not kept pace with what buyers are sometimes willing to pay An appraisal is a historical document but buyers are dealing with today" Welch said Elsewhere David Wyss research director at DRIMcGrawHill said "We're not seeing too much sign of tapering off yet But clearly the increases of home sales and starts have stopped" Though the big gains in housing activity are now behind us starts and sales should level off at fairly high levels which still will result in strong gains for 1994 as a whole economists said Housing demand should be sustained by the recent pickup in employment and income despite higher interest rates they said Moreover mortgage rates are not expected to rise much above current rates about 87 percent fixed-ratfor a mortgage "We're looking for housing to remain pretty strong through the third quarter" Joe Blalock an economist with the Savings and Community Bankers Association said But that wouldn't be unusual since housing activity typically slumps when the weather gets cold he noted This year's existing home sales could break their record Analysts predicted sales between 394 million and 4117 million units this year up from 38 million in 1993 The record 3987 million units sold was set in 1978 Housing starts are seen totaling between 138 million and 14 million units in 1994 compared with 1288 million starts last year Mortgage rates while lower than they've been for most of the past decade already have curbed housing activity Mortgage applications for home purchases have declined nearly 30 percent since d MacDonald Late actor-poe- t Carey's home of 23 years in the Benedict Canyon community of Los Angeles has been sold for $370000 $1000 more than its asking price The Carey who had a distinguished career on Broadway and appeared in 60 films as well as on early radio and TV Carey who also wrote several books of poetry died at 81 in March at the home that was just sold Built in 1950 the house has what have been termed "gorgeous gardens with a beautiful collection of roses" The home is said to have been purchased by a lawyer from Ireland and his wife Emmy-winnin- g three-bedroo- m ot aa ta ea A mansion in the Los Angeles community of Bel Air that gangster Lucky Luciano is said to have leased during the late 1930s and that actors Eddie Murphy and Richard Harris rented in more recent years has been sold in foreclosure for close to $4 million It is one of the highest foreclosure sales in Southern California Built in 1936 the nine-bedroo- m 10000-square-fo- ot estate on two acres with a tennis court was for sale in 1991 at $89 million The buyer is Joseph Arsenault described as a investor who just moved to Los Angeles from New York Arsenault already has put the home back on the market at $49 million ld a aa Lb 0 q e 61:1 Pleasant View North Ogden Harrisville Plain City West Weber Farr West Warren West Warren Huntsville Eden Morgan County 0 'It0 0 ft ft Hooper West Haven Q ft il 4!' Riverdale Air C4 Great Washington Terrace South Ogden to County line Ray Ap Clearfield ' West to Lake Sunset Clinton West Point mak ' Salt Lake 0 South Weber East of freeway East Layton cIS Syracuse 440 et'i d' t 43 Sales compare average price of homes sold through the second quarter of 1993 to the average price of homes sold in the second quarter of 1994 kaysyMe Fruit Heights 0 ' Farmingto II South Davis Counlyarm GREATER OGDEN SOURCE: WIPP OF REALTORS ASSOCIATION 1 FISIMIIII :d4 ilri'i-$- 1993 - Average Home Price: 1994 - Average Home Price: 1993 - Average Home Price: $94643 1994 - Average Home Price: $104993 seam e 30-ye- ar Why do you hire a real estate agent? For the seller: To attract attention to your property and generate activity to get the highest price from the best available buyer For the buyer: To actively and aggressively search for the house that meets all of your needs some of your wants and for the lowest possible price These two goals are diametrically opposed and this automatically creates an adversary system This is the reason "agency" from a realtor is necessary in a real estate transaction An agency relationship exists when one person is hired by another to represent him or her and take care of the interests of the party who did the hiring The agent's own interest or benefit is secondary In any negotiations the agent should be seeking an outcome that achieves the best and highest return possible for the person he or she represents The client is the seller or the buyer This is the individual the agent is hired to represent The agent's role is always clear The principal broker who is hired by the seller or the buyer or both is the agent Only a principal broker can be an agent to a member of the public in a real estate transaction The customer is the other party in the transaction If the seller is the client the buyer is the customer or vice versa The distinction can clearly be discerned in this manner the agent works for the client and works with the customer The law states that in every real estate transaction involving an agent or principal the licensee must disclose in writing to the buyer and seller his agency relationship The disclosure must be made prior to the buyer and seller entering a binding agreement with each other and become part of the permanent file The intent of the law is that all parties know as soon as is practical who represents whom This is agency How do you hire a real estate agent? For the seller: A listing contract and agency disclosure is signed For the buyer: An agency contract is signed What are the responsibilities of the client to the agent? To compensate the agent for the services rendered to make up for losses sustained by the agent while following the clients instructions (indemnity) and to be honest in answering questions about the property and the transaction The client also must assist the agent in performing his duties and must keep promises (if the seller says he will repair the roof pri -a new of ued :t ft- Realtors report a continued demand for housing in most parts of Utah but elsewhere in the nation economist say sales and construction while still strong should slow as the year progresses because of higher interest rates But Tom Welch president of the Greater Ogden Association of Realtors like other Utah realtors says that while higher rates may have slowed some sales the market remains active and the demand for housing fired by contin- million The singer and guitarist who has 1500-square-fo- - 41 TRIBUNE AND NEWS SERVICE REPORTS eight years m a1l 11th-Liaitt:thit- Activity Leveling In Other Areas TIMES Sammy Hagar lead vocalist listed the Page $92282 $151195 L - rAmmint 1993 - Average Home Price: $37119 1994 - Average Home Price: $53454 1993 - Average Home Price: $57139 1994 - Average Home Price: $62155 PCNIMIIIII 0A 1993 - Average Home Price: $119635 1994 - Average Home Price: $106052 1993 - Average Home Price: $71066 1994 - Average Home Price: $87797 omits linnallI ?' tT'11 ' 11 - Average Home Price: - Average Home Price: 1993 - Residential 1994 - Residential - ROMS Frialow 1993 1994 01'1111- - 1993 Average Home Price: $124044 1994 - Average Home Price: $153047 1993 - Average Home Price: $106659 1994 - Average Home Price: $139076 III - 1993 - Average Home Price: $84689 1994 Average Home Price: $87671 - ELItlit - I 1993 - Average Home Price: $68204 1994 - Average Home Price: $74193 f es-- 1993 - Average Home Price: $57934 1994 - Average Home Price: $111613 $115318 $97308 sales year to date: $112162175 sales year to date: $153098538 The Salt Lake Tribune Sam Smith the Federal Reserve's initial pected to hold steady in 1995 near this year's levels Existing home sales should total between 386 million and 42 million units while starts are expected to reach between 132 million and 139 million units tightening on Feb 4 David Lereah chief economist at the Mortgage Bankers Association said Despite the gradual slowdown that's expected in the second half of this year housing activity is ex 11 G-1- 0 Realtor Offers Agency Relationship To Parties Involved in Home Sale - But Experts See By Ruth Ryon LOS ANGELES - PERSONAL ADS ?4 Rock Singer's Home Brings $17 Million J - SECTION G COMMENT ON REAL ESTATE - r ""Ir 2 !""10100Portor-rr- at ' t o' :: ti et t I : :4 ": 04 1:1' I 1zt 'A ' f V' Aa -- 4 1 0t: A - 4 P i t '7 v ! : : - :: - - tii NIZipieA14414 JAN LEATHAM or to closing he must do so) What are the fiduciary duties of agency from the agent? Loyally obeying all lawful instructions of the client full disclosure confidentiality reasonable care and diligence holding safe and accounting for all moneys and any additional duties created by the agency agreement Agency relationships in real estate can be complex With this in mind it is important with each individual transaction the four D's' of agency be kept in mind by your agent: Determine who does the agent represent? Do not let agency relationships happen accidentally Disclose to everyone with whom the agent interacts should know who he or she represents This would include the buyer seller and other agents The client and customer should receive this disclosure in writing Such disclosure is a matter of honesty and moral values All agency relationships created in a transaction should be in writing (and keep accurate records) Do — agents must match their actions with their words Agency disclosure is not just a formality An agency relationship with client or customer will determine how everything happens in a real estate transaction It is the function of the real estate professional to bring buyers and sellers together provide them with valuable information assist them in preparing offers and counter offers give them able service in bringing the transaction to a legal and satisfactory conclusion Read and sign the contracts that are provided to you whether you are the buyer or seller they will specify and identify the agency capacity what the financial compensation is and how it will be paid And always ask your realtor "Who are you representing — am I your client or customer?" Jan Leatham is chairperson of the public relations and community services committe of the Salt Lake Board of ArAilll ' OPEN OPEN HOUSE ML owWASATCH BLVD (3555 11 PEST MTW A CM WRVS OLYMP(S COVE Custom quallty 4 bedrooms 3 balte vaulted ceilings breakfast nook CorpCi wortenui Men 600i Pim Finished at high 561213 272146 OPEN i 340400 DA1E0WD DEW! (6400 S) DAMSON DievrsA 3371 fASALS $000 PAN vr toi a tuace TaTAsek s Dad- ski rooms trcoAsiii Wert ket km5 Lox! 0 secluded 75 Duane Cornett Una° loans tiadoled bascape ail on yard S25s (0 101 5504023 o 3:00440 I CHM ROAD (1100 L) Gmar IWO slaw in Sandy Willascreek 4 beckaarre 3 balm real yard with taros shed Vntsr al mountami voisep Prom Sul educed 51(000 to 228 pus Writ UM900 I I MOW °Met bath Comr0 canna Melton Arnin roam oak the Ocher 6 baits Full untirkshea Basement neutral Moot iliut neer 144000 5524510 Owe MMus 5134311 Crewel lobes Saari maim Mb tatted tub 3 Ain OPEN VS OLD MILL ESTATES oaken names on occlusive el Lowy pant OLD MILD Ped two atet course CP 445 art 621 South 503T ac0anC ilearrono ears $451000 3 years neer real socaban soomss Dreg itoweletry AVE I) condo in r oPew it04700 SO S 4400 EAST FASTIADel bnct Oh largo re Kit Chen ttellti wood 3 bean:cow one 2 barns Qwel iweel cind fw iodic9s A mud as goo Doom Menem Ian Bloom 3444653 fie 410$ ! 544 MUMS 1 PERFECT 2602 LINDA SECRIST 3I71 W COmEMCTOS NOME skyliants 4 4of "At Ai lemma 2 LE S ELLISON MI 13 ALTA CANTON DIM WILLOwOREEP AMMAN komocksied bworooms 3 baths 2 ANchort morn tornit workshop Woo wow MP Om A prlsole word sv 066 KO Opm Iwwwnst 4117414364441214 odor Stroughool act I cr- 010 ii a out St0-31- V 11 '''r 2632t71 5 DON BRUIMMER FRAN RitSCHER 6 ICAIlny Iromots low DPW meeis suite moods motion flotanreMcs tomils mom ssel toryid drIms ouiciecs pool muctt mom WSLOUS Ace Smarm Loves -- BILL 1 k ' - 'I' Miff s) KEVIN MAMANNAH $ so '''''' k' 44 iv 49 JARDi DAYM 1 I dehevolto oo octipt Tomo mom tui bowmen! Mt M2 itred Ca Woos 2 Mows anscht mood mho big now! void 23 w111 4 ova Noal 202A OnTo oil loom ) NM boNI 3112 Foondwit Shores Mann 10 unmet COCU WANG W 140 &ALUM SOMINLANEMNIt CANYON neneci home tot xecolnie leneol lomin 0 benioorn 4 Nom moo 0'440900 IMO Women 4334 W 1000 SOVYN 4075 s 0 SU 333 657 W 200 Cam Non nee Amoco molt im 4 tiewocens 2 bone SW once woonotio CmcNerolow ism Mon 2 peon DO 11664 7 IA tat nee TEMPLE TOM initiESItS411 IWO lesitSTMENT icieolly located on Oen envie in So& Solt alio 2 homey on the yew 6 tiny LOOM CO DOWN EASY NOW cove: own moss Nice roan Anions Lome p 0044442 Bloom 5364600 144290 6 5464 S Vint PON woolen halOWCIOC Locahon Smite 34179 M 990 Owl BMW AVM Loccilior Loops Linos tente tionoweek 3 114341000 &Wens 4435 N 5aO min OMR PAt LOT MRS Cif! LOT miss across Nom Snociois Ridge note in Posi City Goya toomohonoi MOW oicipenr nenect Sys none conooy iestoutoll sic Yenta or nee to Cnontoneok snap WOW ono art CMR:110WSMINI le04220 to 2 botn 004011 ACM SALA N ioncl losoirig 55 citnio moon nib c conownned cluptel en 8 pan Dine m col by one Men call I mionnolicm PcOlible 2038 an duping ptys owner tencing Pb 000 6S244e0 Omni bbc14‘901 3 NW ANWPW5i DPW NIS ON ittAltal 4630 SOWN 44 00 CNAINONO LASTW011 IN VITINS CCM $77800 Linde Seeds! 20' mewl coerce 'nap idtnen cote nen ionakionot terse moon office iD9P CI Ogit(00 enwe0 tosemen Nee Wins WAY FOGIVOYA aboinctnc now nos rag1mm now cwysisopyriont Anme cone in Olvnicsa $9 of an ocir 00TENTiAt 4XINNYERCIAL MOWRY DOM I fintCIACAKAR OtYklint81 Once mow 6oconon on motor acorn $ OI wish non ammo eof No in booms eo I nein P2L01E ail kir Oesois 4044250 None lionow 44S5 I OWANAWK DOM WV SAWN Ni THE WIT! becitooms 2 V2 balm pont Docks cm onto kneel otesionotion 110110t one moon Ness PEKICT' Jame Ma APMOD DOM CLASSIC LAMA! — WPM LOCATION! A$ btict - otrm 11 2 oaths 2 fro Woos" tKPOT00d from upOowN 1321 41 -- FLOOR MX - condo not the boa moony bals amenthes and Os onKnost locotoo4 Lost chance far a woo Cana on Ma once gave IAN 900 Nano Aidawan This N 400 WEST letANSTIC IANDWAY HONE One ce teiOnnty I Went homes SIOWUADATV """""7"""":""0- I o On Aortas timor Vo 90C Under JON ir 1 Morues? Oullostoous 7 AIRMAN TOWERS Saacsaus 2 bedroom 2 mai condo In anobdtadi Amonban lamas S5bk 0CC OUTRAGEOUS iet SOME Wiens Geifnall :: 4v ORLAT POPS SOCK NOW MILLS IN ASILMOTOSI 11:tiett Ono° 14000 -4 - INXURYMOMES 4421 4 SHIRLEY TEGAN 3 -- HOMESIOUTWAST saw NUN tat is 424420 VortST TWIN conowtv000 act am iockeot0 soon poll course and ho4 ODOWO 7011rgi pool isneroculose 4 oto with tie entry C0ndd0! soorCengs Pre Pope Clecor bed 2 bolt 2 cor isotope $et 600 26404402 Roles Su LANE Lbws $ewed 7246 I corroww000 CIRCLE 314 00TI0Nw00D6 ILEGANCI Aosolurety enamong Cotonta Mau sloon00 WS 00040 0S en wow pica wows I bed 3 0100 PlOOMIS 00104 Setting w watts 6 sped cattog AR on I av I price tr 04dt weal t SHEILA GELMAN WALKER Lkloostructod ft 60UNTIFilt 10153 1100114 6400 VEST 21 NEN CUI10161 110h1ES NktokANDI Only 45 mhos ttom Sone tv It superb mow moo ot Utah low coronae to Soh lam and Ptovo Country appear tots Mood tomes on 1 '1 tot i '2 Pm 1175000 to 1250000 Mull toof 10755 North WO Viol Bloom 1014112 CPI 000401 StoCOGI I - I ot Rectupor wet veet Gourmet tilenew moiler WRIt tie 'ter bate 6 meets norawood flows I mortOte Co0 00 vOlier S 11000 04gont Ii l9l zpod 1 ) 4341 1 eitAIDIE PURI CUSS frititti4Ve1 I Shan nellS ILO balm room 2 ion bootoons mountoto vows Ctick Rockcod to ttb300 pod 2210900 iteteoce Dees 65 00601 600 460 UROPEAN CA4104 911 5000 ea 6 estate sto on 96 - s aniatm callinat ODOOkite and 2 112 bada OCO 'IOW Or anndo toduaad aet comma MI $149902 1040 Seeds loom to Or $ P L 2061 S ENTEETAlseSse AT CTS MIST Quality Powerful family fOgiblet 10flOCIMIC CAN pion 6 best 4 bole k10011011 2 tures forte olfoce oalo healers pool Nil trees IS increditsse 62101 P275000 tooIlowlmen HOMESIOUTHWEST IOW a SOWMFULIMOIL Joe ' Oa 4174466 700C to It Notoenba areas Owe tomeoy wing a entenornma 4 1 canes at tulty fenced prating land 10 wooed stnet ea tat 4 cot pot In000! 100 0oot 3 Imo tract DOWSOUSE Sim" CUSTOM FOS urea CARRIGAN CANYON ROAD EACLUSA1 AREA Excl Centistno custom home in aret or LC mod 01Cifinsse WAY im close Bottv than now M sobdistbon 3 bedrooms 2 full Wen mom boot Moody mom OM Mob loci TIM doors se ictlobefl Ood boMroomsodifedrol ceilings Amos AIPNon so Imo WM tom cesmossfet domed bus endows mons up room landscaped 2 cm P13900 Mosss anis 5734Z27 4041 S 64 N WOLCOTT STREET GORGEOUS FEDERAL KOOS TWO STORE CP010 6000 ea II Spectacular decat 6 Malcom 6 Wens eery loot:loot Ilwougnoull Goal tor entetalw Ina beautitui rota ono deck A buy St 0 9001ntsionD0rt1000 Roauced 660 000 1406 $625 000 deevea MALT SY Gmol Munoy Pool 'toms Clubhouse Tucted rnaluss lonoscoorks wee loom Zbonwoom vre D Sueduc 4 Sedum lo SCOW $504141 Id hoes te oat v vts:7 Doe Stuemmest 2079 Lob ' 0019$ real LAME wood windows bid rooms yens ormi ond SOS Views dolor and prism An absolute ID Gosial matte bee areal WC Lowe Waist $602013 of LANS (SeS COUJIMM041 2ND QUARTER 1994 6t- OPEN et0-30S564 S tossidelteCIOD 40445 OPest CASITICSTEat DOVE 5147 (6120 1 ) LIKI MRS STUCCOMCI OPEN 1004100 L PiOilYWOOD etE71 Charming and( hungatos leaking tom dreg timoiroc minor copal Evaoorain coma barge awaited garage OM woo moo Groat Haim! conciMon CPA 6633 Dome Oiament 1504575 1004776 eg Ow Jesse Dates t mom Jen rl crd"44 IJANC IIRL' TOP TEN AGENTS FOR THE L Dna iamb in super location 4 bedrooms 2 baths rtinisnd Hardwood noon now vinyl courtier tops wool iJ am 2432 HO Ilernsteis llotellul tames custom hotett wrap around dock basonwod with second kticnons 'nun and light Owavgnaut emd la sok! $200510 3 Undo tocrist bionnao Piro 4654t13 Das SMALLS MMODELED! MTV sa ft ne 6 bedrooms 3 tecten COTO paint etc MVO yard with boat Truly a must mei Wroth An vicrodiblo VOW 1700400 4$26 L toOMPONT ROAD $159 T50 5504161 Meat ORM 11104701) UM S Atecirla DWI L) Wimp Spclacular panotamoc wows Piroams Open gamma Saar cot"hardwood flaan neutral docar Oak boast 11 S) Grog kowokilky 1375100 IMO° Sacrist Jim Davis DRM Lowy maim Widows horns by kin twvton Horner 1 year now 6710 ft ortcod to solli $309000 unto kothon stunning vlows A5 cities end al May °city two lett PP OSPOVE (14150 DAY Mal 1 4231 E CIANDALL AVM LAWS RICK ILASAISLER APPT NY 2597 L OAK kt4 D'Amtvb AA" zvgitVo VOMMfte-Vtinif- 41111t44 tr 0041100 10404104E0r v 'Swops $ne0s I tenood 664 wilct ebony icrInionin 25 Ocis S415 500 5734217 Fiesoher 4V1MOANW6fimini&VMS11Mék - ) I' I |