|
|||
|
Search | Trends | Luxury | Condos | Horse Properties | New Construction | Realtor | Bookmark this site!
| Home Search | Local Communities | Utah Schools | Utah |
Horse Properties
search for horse properties | equine real estate | new equestrian developments | horse-friendly communities
|
Endorsements From Utah Home Buyers & Sellers |
|
"He kept me informed each step of the way with emails and telephone calls and helped in all the aspects of this transaction to make it as smooth as possible. From writing the offer, gaining price agreement with the seller, getting necessary repairs on the property to closing the transaction, everything progressed nearly seamlessly." Juan C. |
"He was always responsive and sympathetic, left no detail uncovered, and had high standards of excellence. I was impressed when receiving this kind of special service. Barry planned and implemented a professional marketing strategy, keeping me informed each step of the way. He helped to smooth all the rough edges of the transaction between when the buyer agreed with the price and conditions to closing and settlement. Barry even negotiated some challenging last minute terms with the buyer just before closing that really helped me with this sale." Tim E. |
|
"His market knowledge was of great help to us with detailed pricing information and other specifics all in writing. Barry is an excellent consultant. We found that we could trust his opinion and judgment about the local market. We relied upon his expertise." Cheryl G.
|
"Barry is a strong negotiator when it came time to bargain with the seller for a favorable purchase price. Later when it became evident that some repairs needed to be completed, he did the leg work and negotiating that got things fixed by the seller that we needed." Mario S. |
Utah Real Estate News & Trends
|
Utah Schools
|
Community Service
|
Equity Office Locations
|
Utah Real Estate News & Trends
Utah real estate news, current events, updates, articles and trends provided by Equity Real Estate Realtor website. Real estate news for Salt lake City, Provo, Park City - Salt Lake County & Utah County. Featuring information, resources, real estate services, residential property news, townhouses & condos construction news, and Utah land and property trends. Click on the topics that interest you. ______________________________________
Is Now A Good Time To Sell A Home In Utah? It Depends….
Utah’s current real estate market favors buyers. There is a lot of inventory, interest rates are low and Sellers are willing to negotiate. This combination favors home buyers. Buyers waiting for better market conditions will likely be disappointed in the months ahead. Government actions to spur the economy will eventually take effect and as market conditions improve, home prices will increase.
______________________________________
Salt Lake City consistently shows growth in home values and has a relatively short selling time. The median home price in Salt Lake City is $235,000 while condominiums have a median price of $169,200. Average market time is 43 days for single family homes and only 39 days for condos. Condominium sales represent 23% of total home sales in Salt Lake City. Utah home prices are increasing in two other key cities--Heber City and Ogden--while falling in Bountiful, Park City, Provo and Saint George. Condos in Park City are also decreasing in price while in Ogden prices for condominiums are increasing. These findings come from a study looking at home and condo sales in eight key cities in Utah.
______________________________________
Home prices in Utah are continuing to increase. The average home price for the past 12 months (June 2007 – May 2008) is $254,103. The average for the previous 12 months was $248,704. The average home sold price increased by $5,399 or 2.12%. Data for this study was collected from the Wasatch Front Multiple Listing Service for the two time periods. The study found that the average listing price or “for sale price” increased by $9,683. Comparing the average sold price to the average listing price results in an average difference of $4,284. The final sales price on a home tends to be less than what the residential property owners list their homes for. Not surprisingly, the average listing price increased by 3.7% compared with only 2.1% for sold properties, meaning that sellers' expectations are increasing faster than the actual price for a sold home. Home buyers can expect to pay around $4,000 less than the asking price for a home.
______________________________________
Utah Housing Market – First-Half of 2008
The national market downturn is affecting Utah. Home prices for the first half of the year are showing an average price decrease of over $7, 000 from last year’s average. Condo prices have also slipped statewide. The average home price in Utah is down $4 per square foot. Utah home buyers are getting more concessions from sellers. The current average sold price to listing price is ($6,801), which is ($2,014) more than the average for 2007. Home sellers are waiting an average of 20 days longer to sell their property so far this year. The average days on market until sold is currently 68 days. Conclusion: Current Utah market conditions favor buyers. Buyers can expect property owners to be more willing negotiate price and terms. The longer selling time for home owners will make sellers more anxious to meet buyer expectations.
______________________________________
The New Real Estate Market Incentives
On July 30, 2008, President Bush signed into law a bipartisan housing stimulus package. With passage of this new bill, first-time home buyers, including those who have not owned a home in the last three years will be eligible for a significant tax credit. The credit is up to 10 percent of the home’s purchase price. The maximum allowance is capped at $7,500 for a married or unmarried couple who jointly purchase the home or $3,750 for those who file separately. The tax credit applies to homes purchased on or after April 9, 2008 and before July 1, 2009. More of this federal housing incentive....
______________________________________
The Top Real Estate Market in the U.S.
A fairly strong argument can be made that Utah's real estate market currently leads the country. Salt Lake City has been ranked by Forbes as the #1 city in the U.S. for home bargains and #3 for home sellers. CNBC ranked Utah #3 for business while the ALEC ranked Utah at #1 for economic outlook. Lastly, the Beacon Hill Institute ranked Utah as the most economically competitive state in the nation. Utah appears to be in a pretty good position to weather the current national economic and housing storms.
More of this Utah housing market trend.... ______________________________________
Top Real Estate Markets in the U.S. - Number of Days on Market
How does Utah stack-up with the the top real estate markets in the country for homes spending the fewest days on the market? In a research study released by Altos Research, the top ten fastest selling markets in the U.S. had homes listed on the market for an average of 81.1 days. The top ten markets with the least average number of days on market in June, 2008 as reported by Altos Research are displayed below:
Source: U.S. News and World Report, July 10, 2008.
The chart below displays some key zip codes in
Utah and the average days on market for the
period April through June. As you can see, Salt
Lake City, Bountiful, Holladay, Saratoga
Springs, West Valley and Centerville are all
better than 66 average days on market. Utah's
real estate market is doing rather well in the
current "buyer's market". Home sellers in Utah
should celebrate.
Sources: WFRMLS and realestatehomesUtah.com. (Information deemed reliable but not guaranteed.)
More of this Utah top real estate markets report.... ______________________________________ Top Retirement Cities in the U.S. - Salt Lake City #5
Salt Lake City is ranked number five in the country for retirement in a metro area. In a study by Forbes magazine, Salt Lake City ranked behind Columbus, OH; Dallas; Minneapolis and Houston. The criteria used for selecting the best retirement cities included affordable housing, low cost of living, medical accessibility and economic growth. Source: Maurna Desmond (10/20/08)
More of this ranking report.... ______________________________________
Utah Real Estate Market Trend Report November 10, 2008 Dick Gaylord, president of
the National Association of REALTORS®,
recently stopped by to visit Governor Jon Huntsman.
Smart Money Magazine states that Salt Lake City is in a good position to rebound in the real estate market. Salt Lake was one of the top 25 cities in the country expected to help mend the ailing home market because of Utah’s strong job growth. The magazine cites that “Salt Lake City has a less than 1 percent chance of home prices being lower two years from now than they are today.” (Wall Street Journal, Smart Money Magazine, Brad Reagan and Elizabeth O’Brien, 10-17-2008) Forbes ranked Midvale, Utah #6 in the country as one of the top suburbs in which to sell a home. The November 6 article cited a study by Altos Research that examined the best markets in the U.S. for selling a home. The criteria for selection included the number of days to sell a home, stability of home prices and inventories. (Forbes, Ten Best Suburbs To Sell A Home, Matt Woolsey, 11-6-2008)
Some current real estate market data (sold data includes the past 12-months)
______________________________________
Utah Real Estate Market Trend Report December 22, 2008
Mortgage Rates
The Federal Reserve Board lowered interest rates last week for home buyers. This should significantly improve home sales, home valuation and the nation’s overall economy. Mortgage rates, averaging 6.3 percent in the third quarter 2008 have now fallen into the 4 percent range in some parts of the country. The average 30 year mortgage rate posted by Freddie Mac is currently 5.19%. Federal Tax Credit The National Association of Realtors is asking the government to expand the $7,500 tax credit for first-time home buyers (defined as anyone who has not purchased a home in the past three years) to included all home buyers and to eliminate the credit repayment requirement. Pending Home Sales Lawrence Yun, the National Association of Realtors chief economist, stated that the past year data for homes sales is stabilizing. “Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range,” he said. “We did see a spike in August when mortgage conditions temporarily improved, which underscores two things – there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market.”
____________________________
More Utah Real Estate Market Trend Reports
South Jordan Real Estate Trends - February, 2007 Property That Sells In Salt Lake County - March, 2007 National & Utah Real Estate Trends - April, 2007 Salt Lake and Utah County Housing Market - May, 2007 Utah Real Estate Trends for 2007 - June, 2007 Top Utah Home Builders - June, 2007 Utah Real Estate Market Sales - July, 2007 South Jordan Utah Home Market Trends - August, 2007 Ten Year Real Estate Trends for Salt Lake County - September, 2007 Salt Lake County Real Estate Trends - October, 2007 Home Sales Trends in Utah - November, 2007 Utah Home Market Trends Favor Buyers - December, 2007 Utah Home Market Statistics for 2007 - January, 2008 Home Buying Advantage - Winter or Summer? - February, 2008 Salt Lake City Ranked #1 for Home Buying Bargains - March, 2008 Is Now A Good Time to Sell A Home? - April, 2008 Utah High Schools In the Top 5% of the Nation - May, 2008 Salt Lake City, Utah Ranked #3 For Home Sellers - May, 2008 Utah Real Estate Market Pulse - June, 2008 Utah Home Prices Increasing - June, 2008 Utah Housing Market - July, 2008 Federal Home Purchase Incentives - August, 2008 Utah's Strong Economy and the Housing Market - September, 2008 Utah Ranked #1 - October, 2008 ____________________________ Blog Utah Real Estate Trends
Comments/Questions
Music Credit - DJ Tylo
|
|---|
During
the visit, Gaylord praised Utah’s job market citing
that the state created 3,000 new jobs in the past 12
months and 100,000 in the past three years. This
occurred while many states are losing jobs. Gaylord
states that there is “pent-up demand” that continues
to mount up for local housing. “It’s only a matter
of time before we see rises in home sales and also
in activity in the market. So I think we’re going to
see a change in 2009.” (Dick Gaylord, remarks to
Utah Association of REALTORS®,
10-22-2008)
|
resources | link to us | site map | contact Utah realtor | real estate web site design & marketing
realestatehomesUtah .com © 2006 - 2008 All Rights Reserved
Website Design
by
eCommerce-Marketing
Utah Real Estate & Homes For Sale - Land, Condos, Townhouses, Property, MLS Listings | Salt Lake City, Park City, Provo, Bountiful, Centerville, South Jordan, Draper, Saratoga Springs Utah Realtor - Real Estate Agent
Buying a home in Utah? Selling a home? Salt Lake, Provo, Park City real estate, realty services, featuring
real estate news and trends, new homes, planned & gated communities, country club properties, horse properties, single family homes, condos, townhouses,
ramblers, new construction homes, equestrian property, townhomes, buying condos, selling townhouses, houses for sale, home
listings, real estate listings and moving & relocation services.
Utah real estate resource for condominiums, townhouses, ramblers, horse property, new construction, gated communities, master planned communities, retirement community, equestrian real estate, country clubs, single level and two story homes. We provide houses for sale, home listings and real estate listings. Equity Real Estate. Serving Alpine, Alta, American Fork, Bluffdale, Bountiful, Cedar Hills, Centerville, Cottonwood Heights, Davis County, Daybreak, Deer Valley, Draper, Eagle Mountain, Emigration Canyon, Farmington, Heber City, Herriman, Highland, Holladay, Kamas, Kearns, Layton, Lehi, Lindon, Magna, Mapleton, Midvale, Midway, Murray, North Ogden, North Salt Lake, Ogden, Orem, Park City, Payson, Pleasant Grove, Provo, Riverton, Salt Lake City, Salt Lake County, Sandy, Saratoga Springs, Snowbird, South Jordan, South Ogden, South Salt Lake, Spanish Fork, Springville, Sundance, Summit County, Taylorsville, Tooele, Wasatch County, West Bountiful, West Jordan, West Valley, Woods Cross, and Utah County. |
|---|
