SunCrest Market Updates May 22, 2018

May SunCrest Market Update

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May SunCrest Market Update – 5 Tips to strengthen an offer

Spring is typically a busy time for the real estate market, and this year is no different. With a competitive market of buyers out there, you could miss out on the home of your dreams if you’re not prepared. Here are 5 tips to help your strengthen your offer:

1) Pre-Approval 
Don’t put he cart before the horse. Before you even look at a house, you need to get your financing in order. It’s easy — complete an official mortgage application, supply the lender with the necessary documentation (think: bank statements, pay stubs, and tax returns), and obtain your current credit rating. The lender then issues a pre-approval letter which can be sent with an offer. This lets the seller know you’ve got the financial means to purchase their home.
2) Earnest Money 
Also known as earnest money deposit, this is a check you write to show your good faith (aka serious intentions) in your offer. Think of it as putting your money where your mouth is. Sometimes it’s refundable, and the amount varies though typically 1% is customary. In a competitive market, a stronger (and even non-refundable) earnest money deposit may help your offer stand out.
3) Deadlines
Nobody likes surprises when dealing with their biggest financial interest. Working quickly and efficiently through inspections, disclosures, financing, and appraisal, not only helps give confidence to their seller, but helps show your commitment to purchasing the home. Meet your deadlines to prevent the seller from pulling the plug.
4) Price 
Sure, this may sound like a no brainer, but in our current real estate climate, many homes are selling at or above the seller’s asking price. If you’re negotiating tactic is to  “start low cause you can always go up,” it may make the seller discard your offer altogether, especially if there are multiple offers on the table. Go too high, though, and you could overpay. This is where having experts in the field who can run analyses and play scenarios becomes a must.
5) Terms 
You’ve heard the old adage “knowledge is power,” right? Now more than ever, there are so many tools, tips, and tricks to writing the terms of your offer. Are the sellers relocating? Are they wanting for kids to finish school? Are they selling the home “as is”? The key here is communication. Finding out what’s most important to sellers and making an offer that works for both you and them may actually win out over a higher price offer.

Our take: 

If you find yourself in a competitive scenario, focus on what you can control. While you may not be able to submit the highest offer price, you may have the ability to give the seller time. Contrary, you may not have time with a pending job offer or school commencement, but may be able to offer a higher price. Whatever the scenario, we recommend leveraging the relationship of an experienced local market expert to negotiate the house you want to call home.

Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market.  The previous month’s SunCrest housing information and future editions are released monthly.

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SunCrest Development April 26, 2018

Mountain Park Estates (SunCrest Shoebox) | April Proposal

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SunCrest Shoebox

The Draper City Planning Commission will review a revised plan for the ~84 acres known as Mountain Park Estates aka “SunCrest Shoebox” parcel located east of Tallwoods and west of Eagle Crest subdivisions in SunCrest.
The revised plan includes:
  • 147 single family units – 1.92 gross units per acre.
  • Elimination of all multi-family units.
  • Nearly 6.5 acres for a proposed monument park
  • ~37% open space

Full proposal here. Previous posts here.

SunCrest Homes April 12, 2018

15419 S. Eagle Crest Drive | Sleek, Stylish, & Views

$699,000 | 4,784 sq. ft. | 4 beds | 3 baths


SCHEDULE SHOWING

Welcome to 15419 S. Eagle Crest Drive.

We’re swooning over the flawless transition of consistent hand scraped hardwoods on the main floor. Not only are they sleek and stylish, but they’re smart and sensible for everyday life.

The natural nexus of the family room, kitchen, and semi-formal dining is flanked by oversized windows all around. Whenever you pair sky vaults, windows, and view with rock fireplaces, granite counters, freshly painted cabinets, and stainless appliances you know it’s going to be good.

We love the placement of the master bedroom, a comfortable distance from the 2 bedrooms, yet tucked at the back of the lot to capture the views you moved up here for. Finesse, for sure.

Downstairs is open, bright, and huge. The whole family (maybe twice extended) are no match for the brilliant, sweeping design. From family room to pool table, ping pong, or hoop it up; take your pick – or take them all – this basement can handle it.The spare finished area would be perfect for a theater room, in our opinion. But hey, you do you.

The downstairs is rounded out by a bedroom, full bathroom and wet bar ready to serve up anything from popcorn to piña coladas.

The upgrades weren’t limited to the indoors – there’s a new spiral staircase that makes the crisp mountain air available from both levels. It’s just outside the daylight walkout basement off the covered Trex deck.

The backyard is landscaped and fenced for all two-legged and four-legged wanderers.

Sure, the sellers are sad to go. But they’re leaving it in tip top shape just for you!

SunCrest News April 11, 2018

SunCrest Resident Meet and Greet | 2nd Quarter 2018

Once a quarter, we co-host a SunCrest resident meet and greet at the clubhouse with the SunCrest OA. Giddy up, SunCrest, that once a quarter meet up is tonight! Whether you’re new school or an old timer in the neighborhood, come to mingle and/or learn more about the community. Drop by the SunCrest Clubhouse anytime between 6-730PM.

 

 

SunCrest Homes March 20, 2018

15281 S. Tall Woods Drive | Views At Every Turn

$999,000 | 5,627 sq. ft. | 5 beds | 3.5 baths


SCHEDULE SHOWING

We were giddy. We actually felt those high school crush heart palpitations the first time we walked through this custom 2-story, because it exemplifies what SunCrest living is all about: gorgeous homes, unbeatable views, clean air, and an active lifestyle.

Situated atop one of SunCrest’s most elevated streets, it stands proudly on a near three quarter-acre lot, overlooking 270 degree views of Gambel Oak, with cities and lakes seen below.

Our hearts actually skipped a beat when we first went inside. All that natural light! Hours of meticulous forethought went into planning the exact placement of every window and it shows. Not only do the windows flood all three floors with light, they ensure those very views you’re seeking are placed exactly where you want them, at eye level, at each turn.

In designing the space, the sellers doubled down on every design element and created each space to be magazine or #motivationalmonday worthy. Sliding barn doors, stylish hardwoods, in vogue white, gray, and blue cabinets, thick slabs of granite, chic tile; and well, the list can go and on, really.

It’s near impossible to have a favorite spot in this place. When asked, the sellers said it’s a toss up between the kitchen/family room with all its open air, or the fresh air on the 16×20 covered deck. Spring fever anyone?

We are taken (twitterpated, even) by the main floor master retreat. It’s spacious, thanks to its high coffered ceilings and oversized closet (seriously, it’s huge!) and dazzles with its double vanities and resort style spa finishes. The real show stoppers are the sliding glass doors that lead to the private deck, that’s hot tub ready.

Upstairs find 2 bedrooms, a bonus room, a full bathroom and views that are even more impressive with the added elevation.

The lower level was crafted for life’s “anytime” moments – game time, family time, or leave me alone time – it handles form and fashion with ease.

Mind if we end on a teaser? When it’s time to bring the kids or dogs on a tour, be sure show them the hidden hideout under the stairs or the custom dog bath. Be still our hearts!

SunCrest Homes March 10, 2018

2045 E. Eagle Crest Drive | Secluded Mountain Retreat

$975,000 | 5,324 sq. ft. | 5 beds | 3.5 baths


SCHEDULE SHOWING

The word “literally” gets thrown around a lot by people these days who aren’t exactly using it correctly, so we want to make sure you know what we mean when we use it. We mean exactly. Precisely. As in, this house is literally one of a kind. It was built as a custom home, and this is literally the first time it will be available since the original owner moved in.

Literally, you can see incredible views of Traverse Mountain, Utah County, and Utah Lake from the large windows scattered around the house. The home sits on a dead-end private lane so you get quiet seclusion in your own mountain retreat.

After you go through the oversized solid wood front door, take in the views along the back, and snap out of your panorama daze, you’ll check out the main floor. Kitchen, dining, and family area all open to each other – the most sought-after trifecta in house hunting today.

The kitchen is not one of those precious museum pieces; it’s meant to be used and is well-equipped for the discerning chef.

Round that out with a main floor master bedroom complete with its own deck and the front room that’s perfect for an office, parlor or sitting room and you literally have everything you need.

That makes the upstairs even more impressive. There are 3 bedrooms up there, a full bath, and a loft. And if you thought the views on the main were great, just wait until you see them one level up.

The downstairs level will up your cool factor with friends: a wet bar, fireplace, and oversized windows. Currently a shrine to Seattle (go Seahawks!) but ready for you to rededicate to Utes, Cougars, Jazz, or just repurpose the space.

With a literal half-acre yard, two decks, and an outdoor entertaining space you can spread out to soak up the views up close and personal. This is literally an opportunity you won’t see again.

SunCrest Development March 7, 2018

Mountain Park Estates (SunCrest Shoebox) | Revised Proposal

Join the owners of the Mountain Park Estates Development tonight, March 8th from 6:30-8:30PM at the SunCrest Clubhouse as they present their proposed development modifications for  SunCrest area land known as the SunCrest shoebox.

Modifications include:

  • Removal of town homes; 20 foot non-disturbed areas along parcel property lines;
  • Reduced disturbance and grading in existing Gamble Oak and other Non-disturbed Open Space areas;
  • Increased preservation of areas with 30% or greater slopes; and noise study results for proposed on-site materials processing to reduce heavy truck traffic on existing SunCrest roads.

For those unable to attend, below is a preliminary proposal for the area. The owners plan to present to the Draper City Planning Commission on Aril 12th, 2018. 

Previous posts and history about this area here.

SunCrest Development March 6, 2018

Concept Plans | Mercer Mountain Estates & Lone Peak Canyon

Tonight, Draper City Council will review a proposed amendment to the master development agreement for Hidden Canyon Estates, Mercer Mountain Estates and Lakeview Heights Properties. Although these concept plans (located adjacent to existing Hidden Canyon Estates development) are not the official, final plats for the development, they do provide SunCrest area residents with the first solid peek at what developers are planning in this part of our neighborhood.

Want to stay in the loop on these and other SunCrest area developments and news? Easy peasy. Sign up here.

Previous posts and history about these areas here.

SunCrest News March 1, 2018

SunCrest Park and Trailhead Open House

New Parks Headed to SunCrest?

Mark your calendars and be sure to attend to Open House March 15th. Draper City Parks and Recreation will be holding an Open House from 6-7:30PM at the SunCrest Clubhouse to learn more about the proposed parks, ask questions, and view the concept plans for the SunCrest Park and Brookside trailhead.

 

Can’t make the meeting? Check back here, we’ll keep you posted.

SunCrest Market Updates February 23, 2018

February SunCrest Market Update

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2018 Housing Forecast-Insider Info

At Windermere, we’re fortunate to have Chief Economist, Matthew Gardner, as part of our team to provide valuable analysis of the economy and housing market. In January, Matthew was the keynote speaker at the Salt Lake Board Of Realtors forecast breakfast. We’re sneaking this insider info to you, because we think you’ll be interested in his predictions for the 2018 housing market.

Our take:

These forecasts are made at a national level, so we have some additional forecasts for SunCrest.

  • First, SunCrest has seen the total number of existing homes sales decline over the past three years. Put simply – fewer homes were sold in SunCrest in 2017 compared to 2016 and 2015! While we don’t project a further decline in existing home sales, we expect to maintain current sales levels — approximately 10 home sales per month, typically with spikes in Q2 and Q3.
  • Second, barring any substantial changes to Edelweiss or Hidden Canyon Estates, we project new homes sales will exceed 10% of all SunCrest area sales. To date in 2018, new construction makes up nearly 50% of all current homes for sale, and over 80% of sales currently pending.
  • As of the this writing, the average rate for a 30-year fixed-rate mortgage was 4.40 percent, on pace to exceed Gardner’s projection.

We agree with Gardner’s projection about concerns of lack of available inventory and unsustainable home price appreciation. We anticipate prices leveling off in some markets, as would-be buyers become capped financially due to rising interest rates and historically high levels of debt. However, we do not foresee any reason to panic and expect 2018 to be another strong year. Even more than last year, we think that sitting down, reviewing all the facts, and walking through your goals will help prepare you for your next move.


Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market.  The previous month’s SunCrest housing information and future editions are released monthly.