All Forum Posts by: Blair Poelman

Really not a "bad" neighborhood here in Provo / Orem.  There are definitely some areas that are not as nice, but all things being relative, there's really no bad areas.  We are growing exponentially, so crime and homeless population is starting to grow - not unexpected with how many people are coming in.

For the most part, we're not a heavy cashflow market.  If you're getting high single-digit % returns, you are either cash rich with no debt, or you've owned your property for a long, long time.  As high as this market is right now, I think we (as a collective society) will continue to over-inflate housing prices - so really we're in an appreciation market... that is, until the bottom falls out.

Tech jobs are huge here.  Really don't see that changing any time soon, or ever.  Lots of office buildings going up in Lehi.

Rents are going up every year.  I've seen 5% increases on high end homes and apartments, and as much as 15% on lower end properties.

Again, I don't think you'll find a "bad" neighborhood here.  It's called happy valley for a reason ( even if that reason involves a whole bunch of prozac and credit card debt).

I agree with his outlook.  I don't like how we're getting more and more expensive, but it sound about right.   

The only prediction I can really make about our market here is I can see quality of life falling a bit.  We're getting bigger, and with growth comes more social problems - crime, homelessness, drug problems, etc... (wait, we already have all that, we just sweep it under the rug as quick as possible) 

I've bought several homes at auction without seeing the inside.  Some have been a gold mine.  Some have been a complete train wreck - you get what you get.

Probably my most memorable (or maybe, most horrifying) experience buying without seeing inside was when I bought a house at the trustee's sale in Clark County. knocked on the door, left notices, went through the eviction process over the course of a few weeks, etc... eventually went in with constables for the first time and the guy was obviously still living in the place - seemingly nobody was home, but there was a bunch of viking weapons and knight stuff all over - there was a suit of armor on a stand in the corner...  not just decoration - the freaking guy was suited up in the armor and full on came after us with his sword. Thank god for the constable. Luckily nobody died, and tragedy plus time equals comedy.

Many financial institutions "require" the use of the title company of their choosing.  But as a buyer you have the right to close your side of the transaction with whatever title company you want.  In my home state when there is no financing (rather, only an owners title policy is issued, and no lenders policy) it is state law that the buyer chooses what title company to use.  These rules and laws vary by state so check with your title co, but It's always a good idea to work with people you like and you trust - so let the seller use whoever they use, but close your side with your own title co. 

My personal opinion is that doesn't matter - it's a "do not call list", meaning the owner of that number does not want unsolicited calls.  But I'm also not an attorney or DNC professional - just a guy that has learned over 25 years of experience in telemarketing that DNC fines suck to get, and suck worse to pay.  Complying with DNC rules is not terribly difficult so there's no reason not to do it.

 That is sometimes true but not always, and sometimes it's easier to beg for forgiveness rather than ask permission, however I have extensive experience in the telemarketing world and DNC fines are effing painful - and there is no begging for forgiveness with the FTC.

@Jonathan Mueller  Traffic in SL valley is very often quite terrible throughout the entire day.  I don't ride the train because it is inconvenient. There really are very limited options when it comes to getting on, and then getting off close to where I'm going. Seems to me that most folks in the valley don't live close enough to a station to make it worth the effort to ride the train to work or downtown other than to hit a game or do something on the weekend.  

I've also been stranded downtown in the middle of the night after shows or parties when the train stops running at midnight

Even if you're calling to inquire about buying something from a recipient of a phone call,  technically you might still be acting as a telemarketer and may be subject to the TSR and DNC list.  Best to check with an attorney that knows telemarketing law and can advise you on your campaign before you go buck on the phone.

the olympics only last a couple weeks (and is ridiculously expensive & inconvenient for the entire community).  I wouldn't recommend going out and buying a short term rental in anticipation of just that one single event.  We should be more concerned about losing events like outdoor retailer which was a regular event that we didn't have to build an almost useless light rail to support...

Completely unrelated to RE - traffic throughout the entire valley was a freaking nightmare for years leading up to that event (we have what appears to be an addiction to I-15 construction here so we've decided to continue snorting lines of orange cones pretty much since that construction party started decades ago).  I hope we don't get the bid.  We've paid staker,  wadsworth,  and a slew of other companies enough to do a terrible job on highway construction.

@Philip Smith  Whoever said this business is safe?  It is not safe.  There is risk in every single investment - Real Estate and otherwise.   Enormous sums of money are earned and lost in this game all the time, so it is very far from "safe" however there are clear ways to calculate risk.  My best advice is to only risk what you're willing to lose.