Logan Utah Real Estate

Overall, the real estate market in Providence Utah is in pretty bad shape. There are 77 active residential home listings with a median price at $296,950 and average price of $333,631. In the last six months 45 homes sold in Providence. These Providence Utah Real Estate listings had a median price of $234,000, average price at $256,029, and were on the market for an average of 100 days.

Providence homes priced less than $250,000 are still selling, and the low end market is actually pretty healthy. In the last six months, 27 homes less than $250,000 sold. There are currently 30 homes on the market in that price range.

There are 47 active listings priced more than $250,000 in Providence and 13 listings priced higher than $450,000. In the last six months only 18 listings above $250,000 sold; only one listing above $450,000 sold. Basically, home sales for The Bench areas are struggling.

Hold on. It could be a long winter for Providence Real Estate.

A few years ago, I was at a T. Harv Ecker "Millionaire Mind Event" and first heard Harv's advice about being bigger than your problems.  It didn't really sink in, though, until I read the same idea in his book earlier this year.  Apparently I learn much better by reading than experientially, because I got a TON out of Harv's Millionaire Mind book, that I missed at the live event.

Anyway, his point was that you have to be "bigger than" your problems, and that our success in life is limited by the size of the problems that we are able to overcome.

 

Jump Out Of Your Comfort Zone!

Most of us are looking to be "comfortable" rather than "successful."  The problem is that being successful very often demands that we step out of our comfort zone and face problems that are scary and challenging.

A few examples of ways that I have stretched myself to create success even when it was uncomfortable:

• Door knocking in target neighborhoods for leads
• Spending money on marketing without certain/tested results
• Cold Calling
• Raising $5 Million in private money for a commercial property purchase
• Buying an apartment building (with partners) that subsequently needed a $200,000 roof replacement that we hadn't anticipated.
• Speaking on stage and selling from the platform

 

As we tackle and overcome challenges that initially seem outside our scope, a funny thing happens.  We grow better able to handle these discomforts without as much anxiety.

What Does It Look Like?

As a new investor, it was initially hard for me to pick up the phone and call someone using a script.  This was maybe a "level 2" challenge.  As I overcame that, I was able to go out door-to-door and talk to people about my business.   This was maybe a "level 5" challenge.  By the time I was doing these "level 5 challenges," the cold calling (level 2 challenge) didn't seem so scary. 

Then I went on to buying my first apartment building with my partners - a "level 7" project.  The confidence I got from my earlier successes, helped propel me through this new challenge.

Even though these level settings are arbitrary, you can see that doing what's hard for you, makes your medium-difficulty tasks seem easier.

Rocket Ahead By Getting The Most Valuable Things Done Each Day

As you look at your business and your daily activities, you will probably find a few "should do" items on your list that you have been putting off because they make you uncomfortable, even though they have the potential to rocket your business forward.

I encourage you to bite the bullet and push yourself.

If you get comfortable being uncomfortable, you will soon find that you shy away from fewer and fewer activities, and develop the good old fashioned "gumption" displayed by many successful Realtors and investors.

Many experts say that the economy is in a recession. The media seems to magnify this and that scares people into not buying homes. In turn home builders, contractors, appraisers, and other real estate based jobs are effected or even lost. I have been a real estate agent for about 3 months now, and it is interesting to be at this low point in the real estate cycle. I hear co workers talk about how easy it used to be when the Utah economy was on a high. I think it is making me better because I have to be creative in everything I do to compete with agents that have more experience. Shane Calder Logan Utah Real Estate

When considering offers, sellers should really pay attention to the loan type. It might not seem like that big of a deal, but a FHA Mortgage can be a lot more complicated and costly from a sellers perspective.

One of the big nuisances with FHA loans is the FHA appraisal. The FHA appraisal isn't just concerned about the value of the home, but they also have ridiculous requirements to ensure safety of the property. In most cases, the seller of the property is required to make these repairs. Some of the things I've seen that FHA appraisals won't allow include: missing light bulbs, holes in the wall, loose handrails, exposed wiring, chipped paint, and trees that are too close to the house. An FHA appraser also can't approve a house unles the power and utilities are on.

So, you can't really sell a property "as-is," if you want to accept a FHA loan. FHA loans also require more paperwork at closing.  FHA loans can be a pain to deal with, so if you have multiple offers, make sure you take the type of mortgage loan into consideration.