Monthly Archives: February 2018

Apartment complex

Multifamily Sales in Salt Lake City Amounted to More Than 1$B in 2017

Apartment complexThe Salt Lake Board of Realtors reported that sales of multifamily units in 2017 amounted to more than $1 billion, due to an increase in median sales prices.

Despite the increase, there were 4,500 units that exchanged possession in the previous year. This indicated that demand from buyers remained stable amid higher sales prices, up 11% to $225,000, according to the report.

Property Development Activity

Fitch Ratings expects home prices nationwide to increase 4.6% in 2018. It listed Utah’s housing markets among the top five states that will perform well this year. In Salt Lake City, home prices would increase by 3.2% from the current average prices of $360,000.

A reason for the projected increase involves the influx of several companies, which continue to set up business in the state.

For instance, many enterprises have flocked to the Provo/Orem region because of its high-tech industry. Workers from out of the state also moved to the region because of job prospects and higher salaries. While rising home prices normally elicit concerns of a bubble, experts say there should no reason to worry over a potential crash for now.

Housing Bubble?

Jim Wood of the University of Utah’s Kem C. Gardner Policy Institute said that the most number of sales occurred in Salt Lake City, West Jordan, and Sandy. He attributed the increase to a larger demand for affordable housing options. Wood believes that the likelihood of a real estate bubble remains low, as mortgage lending standards have become stricter in recent years.

For this reason, cash-strapped developers that remain undecided should consider launching new projects this year. Good thing, as bmfcap.com mentioned, The U.S. Department of Housing and Urban Development’s (HUD) multifamily loans will help you finance your next development.

An opportunity to make a profit awaits property developers since demand for multifamily units in Utah will likely continue to increase in the near future.

 

Condo units for sale

3 Mortgage Mistakes When Buying a Condo

Condo units for saleDespite the large number of desirable Corpus Christi, Rockport, and Key Allegro homes, many people prefer to buy condominium units. After all, as Rockport Properties, Inc. explains, condos usually provide a better view, help eliminate property maintenance nightmare, and are located in the heart of the city.

However, you might be surprised that it’s trickier to secure the right financing and get the unit you love. Here are some of the most common condo mortgage mistakes first-time buyers make:

Snagging the Lowest Rate

Compared with traditional mortgages for freestanding properties, condo loans tend to come with higher interest. Lenders consider condos to be riskier since units could lose value easily when other residents default on their loans. In turn, lenders would most likely have stricter conditions or restrictions in place. Unless you put down about one-fourth of the unit’s cost, your interest rate could be 0.25 higher than what you’d pay on a single-family house.

Being Unprepared for a Large Down Payment

Considering that condos are risky assets to lenders, you might be asked to pay for 25% of the property’s price upfront to secure financing. Condos may cost less than freestanding houses, but being able to borrow less money to buy the property can put a damper on homeownership.

Then again, most lenders look at the entire package when granting loan requests. Even if you want to buy a risky asset, you might be asked to put down as little as 5% if you have an excellent credit score.

Forgetting About the Building’s Occupancy Rate

Most condo mortgage providers would require a certain number of units to be sold first before offering to finance. If you wouldn’t have enough neighbors when you move in yet, your loan application may be denied.

Buying a condo has its unique challenges, but the risks are worth taking when it makes perfect sense for your situation. Exercise your due diligence to choose the right unit — not just based on its location, but also on the building’s management. Make sure you’re on good financial footing before you buy to ensure you could keep up with the payments associated with condo living.

5 Reasons Yoga Will Help You Cope With Stress

Woman doing yogaLet’s face it, we’ve all gotten stressed out for one thing or another and tried to cope with it by either going on an eating, drinking, or even crying binge, or simply packing our bags to spend the weekend somewhere nice and quiet.

The thing is, this is just a reaction to stress. The better way is to teach ourselves to reduce the burden, or even to let it just slide through our being. And that’s where yoga and meditation centres can help, as they promote relaxation – targeting the body, mind, and breathing, which are usually the most affected by stress that leads to health issues.

For the uninitiated, bear in mind yoga is more than just stretching or doing impossible poses. It’s actually a form of exercise that can help loosen up tense muscles in the body. It also goes beyond the physical. As mentioned, it also involves the mind and breathing. Yoga, after all, literally means “union.”

It can be quite confusing for beginners as different types of yoga fit different individuals, so choosing which class to attend may be a difficult proposition. The good news is, just like cross-training, you can incorporate different types of yoga into your regular session to get a more balanced result.

Whatever yoga type you eventually embrace, the more important thing is that you go through the whole exercise on a regular basis. Once you do, you will notice that your stressed-out episodes are getting fewer and far in between.

It’s not because the things (and people!) that are causing stress for you are starting to disappear, but it’s because, through yoga, your whole being has learned to cope with them that eventually, they won’t affect you much, if at all.

Here are the ways yoga helps you cope with stress.

1. Reduces tension and relaxes the body

There are yoga poses that calm the whole body.

2. Slows the mind down

Stress tends to get our mind to go racing in different directions. Yoga will help it to focus on one thing, thereby slowing it down until it relaxes.

3. Makes you breathe easier

When we’re stressed, we tend to breathe shallowly and rapidly, which adds to the tension and stress to your body. Yoga will help you use your diaphragm and lungs to breathe more effectively.

4. Gives you sense of harmony

Yoga will connect your mind and body so that we become more sensitive to what our body really needs and we can then act accordingly.

5. Makes us more conscious of our mind

When we know how our brain reacts to stressful situations, we can teach it to follow the more reasonable path instead of just choosing in panic. This inevitably leads to a calm feeling that everything will turn out okay.

Despite popular belief, yoga is not just for a unique group of people, but also for everyone including the young ones. And it’s not only for dealing with stress but for the whole body’s well-being.

Woman breathing on gloved hands

3 Things You Must Keep Handy During Winter

Woman breathing on gloved handsWhile everyone knows that winter will come, some people don’t prepare enough for it. The best time to gather what you need for the cold months is, of course, before the snow starts falling. It may be that you already have taken some steps to get yourself ready for the season. Still, it’s important to confirm whether you have these three things that will come in handy in the winter.

Get the contact information of a furnace specialist

The one appliance you cannot do without during the cold weather is your furnace. If you’re like most smart homeowners, you’ll have your unit checked and tuned weeks before the cold days begin. Still, anything could go wrong and you never know when you’ll need emergency heating repair in your West Valley home. It’s best to have a reliable contractor you can call to fix a furnace failure urgently.

Get a cold and flu care kit

Among the things you can expect with the arrival of winter are cold and flu. Even if you don’t often get affected by these illnesses, it’s likely a family members does. The best way to get ready for that is by having a strong immune system. Keep supplements that are rich in zinc, garlic, and Vitamin C. Also, get the appropriate medications well in advance in case someone catches the bug.

Prepare Warm clothing

The one thing you want to protect most during winter is your body, and there’s perhaps no better way to do so than by getting the right clothing for the season. A heavy-duty down coat is necessary to keep you warm during the snow and icy winds. Get a pair of thick wool socks and snow boots, too.

The approaching winter calls for sufficient preparation, so you and your loved ones can survive the cold. The best way to do so is by getting the things you’ll need well in advance so nothing catches you by surprise.

Employee seating on a uncomfortable small chair

The Complete Guide for Choosing the Best Office Chair

Employee seating on a uncomfortable small chairA typical office contains several pieces of furniture like cabinets, desks, stools, tables, and chairs. Although a chair is just a part of the office’s overall look, it still has its importance.

It’s not just the looks that matter when you’re looking for a new or even used office chairs from suppliers such as New Life Office. Here are some things that you need to remember when you’re buying an office chair.

Ergonomics

Studies show that considering this factor can go a long way toward minimizing repetitious work injuries and even the amount of time sick workers take for back pain.

You might also want to examine whether a chair’s seat depth can be adjusted. There are a few chairs offer depth adjustability while others keep the seat secured and allow a backrest that impels back and forth.

Comfort

Aside from its ergonomic features, another factor that you have to consider is the overall comfort. You have to know the adjustability, firmness, and placement of the support. You could check the reviews if you’re planning to purchase it online.

Size

Choose a seat that’s enough to fit most of your people comfortably. The width of the seat should be wide enough for a person’s thighs to fit in without brushing the armrest. Always remember that a few chair makers offer seat sliders made to help adapt to a wider range of worker needs.

Base stability

Base stability is one of the most overlooked factors when buying a chair for an office. It has to be sturdy enough to support the weight of the user.

You should also consider the material that the base is made. Steel bases are the most durable but are probably more expensive compared with other materials. You may opt for choosing aluminum bases since it’s strong and lightweight at the same time.

With these tips, you can now ensure your office looks great, and your employees more comfortable and productive.