Homes for Sale/ Utah Market conditions Blog

Market Update - Logan Utah Real Estate

Alan Barker - Utah Homes (Cornerstone Real Estate) — Wed, 04 Nov 2009 17:44:35 -0600

According to Kalebs graphs, the average sales time for Logan Homes is steadily going up. Even though inventory is down, and home sales up, there are still a lot of homes that have been on the market for a long time that are just now selling.

Via Logan Utah Real Estate (Kaleb Kunz - Cornerstone Real Estate Professionals):

Here's the current market up date for the Logan Utah Real Estate market. The number of homes sold is up slightly from last month.....but overall has been very consistent throughout the year. The average sales price for Logan Homes is down along with the time of sale going up a little more than the average has been. A large number of these sold homes have been to first time home buyers because of the $8000 tax credit offer from the Government.....which is under vote now to possibly be extended past the November 30 deadline.

Please feel free to use my website at Logan Utah Real Estate to search for all homes for sale in Cache County!
Logan Utah Real Estate - Cache Valley Real Estate - <a

October was a Good Month for Logan Real Estate

Alan Barker - Utah Homes (Cornerstone Real Estate) — Wed, 04 Nov 2009 17:41:05 -0600

October was a good month for real estate in Logan Utah, the third best month of the year to be exact. For Cache County as a whole, we broke triple digits for the number of homes sold. Home sales were up by 10% compared with last month, and up by more than 6% compared with October of last year.

From an analysis of the home sales statistics, it is obvious that a good number of the home buyers during October were first time home buyers who wanted to take advantage of the $8,000 first time buyer tax credit that was scheduled to expire at the end of the month. First time buyers generally by the smaller, less expensive Logan Homes. During the month we saw, the lowest average sold price in years, as well as the smallest average square footage per homes in over six years.

It's still a great time to buy Logan Utah Real Estate, so contact a Cornerstone Real Estate Professional today.

Have a Vacant Home You're Trying to Sell? Consider Home Tending

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 22 Oct 2009 16:25:32 -0500

Yesterday at our weekly office meeting we had representatives of Prestige Home Tending come tell us about their services. This caught me as a great idea, something that can be very valuable for people who have already relocated and are still trying to sell, as well as for people who want really cheap rent for really nice homes.

Right now there are thousands of vacant homes in Utah, especially of the more expensive variety. Vacant Homes sell slower, get more low ball offers, are more suseptible to vandalism, and can be substantially more expensive to insure.

One solution to overcoming vacant home syndrome is to get people to live in them. With Prestige Home Tending this costs the sellers nothing, but gives them a lived in, professionally staged home, and someone to take care of it.

Here are some of the things having home tenders does:

It makes the home alive.
Saves them money on:
Utilities
Lawn care
Snow shoveling
Lower home owners insurance. A non occupied home insurance averages 6 times more than an occupied home.
Less chance of vandalism
Catch problems before they become a crisis, such as water line breaks or damages.
Enhances curb appeal

Prestige home tending makes sure they get qualified, responsible tenders. To qualify as home tender, applicants must pass furniture checks, ensuring that their furniture is professional enough to accomplish staging purposes, as well as background checks. The home tending companies also perform random weekly checks to make sure the home is always in tip top condition and ready for home showings at a moments notice. Home tenders are employees and will move the people out if there are any problems.

The owners of Prestige Home Tending also own a moving company, Smooth Movers, and will provide moving services for the home tenders. Prestige home tending is currently available for Cache Valley Homes, Brigham City Homes, Weber County Homes, and Davis County Utah Homes.

BE CAREFUL - Blogging Can Make You the BAD GUY

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 15 Oct 2009 15:34:30 -0500

On ActiveRain, we always here success stories about agents who see their business skyrocket because of their blogging efforts. However, the results of blogging aren't always good.

A few months back I wrote a blog post about how Cache Valley Real Estate is changing. About how it's not nearly as rural a place as it was when I visited it as a child. The Cache Valley area recently reached the 100,000 population mark, officially making it a "metro area." In this article I also talked about how there are still very rural areas in Cache Valley. I thought my article was very positive, but apparently I am the bad guy. Here is a comment I got from that post the other day:

"Mr. Alen Barker Why are you trying to destroy the farm land in Cache Valley? We already have more people hear then I or anyone else that lives out in the country wants. So I would rely appreciate it if you did not try and give me neighbors that i do not want, and push me out of business as a farmer by buying the the land that I have to have at development prices that i can not afford. You don't care about this because you have only lived here for three years and you live in Logan where you are already surrounded by houses. You don't know what it usede to be like, or the beauty that you are destroying by promoting this. It is not somthing that can be shared. My great grandpa came here in his early twenties to farm and that is what my family have been doing ever since. It breaks my heart to see the land get covered up by houses."

I guess we can't always be winners by blogging.

Cache County Real Estate Comparison for the Third Quarter

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 15 Oct 2009 00:14:18 -0500

For the first half of the year, Cache Valley Real Estate sales were down compared with 2008. During the third quarter, they were also down, but less down. Sounds a bit like the national unemployment statistics. The third quarter is traditionally has the highest volume of real estate sales in Cache Valley.

Well during the third quarter of this year, Cache Valley Ut Home Sales were down 5.65%. 317 Cache County Homes sold compared with 336 during the same period last year. Home sales during the second quarter were down by 12.5% and during the first quarter were down 14.09%, so we are seeing improvement.

Third Quarter Cache Valley Utah Real Estate prices were also down compared with July-August of last year. The median sold price of Homes in Cache County was $166,727, down 3.63% from last years Q3 median sales price of $173,000. The average sold price of $187,075 was down 3.5% compared with last year. While the year over year Q3 comparison was down, both the median and average home prices were actually up compared with the second quarter of this year. Prices for Logan Utah Real Estate may have already bottomed out.

Big Brother (Your MLS) is Watching You...

Alan Barker - Utah Homes (Cornerstone Real Estate) — Sat, 19 Sep 2009 02:35:08 -0500

At approximately 5:45 this evening I started listening to an audio book 1984. From the first 5 chapters I've listened to, 1984 is about a controlling government that tries to eliminte anything that stands in the way of their power. "Big Brother" maintains this control with a constant watch on everyone. They teach youth to turn in anyone who might have opinions different from "the party" and then vaporize the offender. They even go so far as to elimate words from the dictionary and destroy true history so that they are the only source of information.

Although this book is a work of fiction, the parallels of power corruption are real, and alive in our real estate world!

At about 10:00, I checked my email and saw that my broker had forwarded this email to me from "Big Brother."

It has come to the attention of WFR that you are operating a website located at http://www.utahrealestate4sale.com that is not in compliance with the Policies and Procedures of Wasatch Front Regional Multiple Listing Service, Inc. Section 31 (e):

31. Prohibitions.

e. Use of MLS. No subscriber may use the terms “MLS”, “Multiple Listing Service”, or any similar terms,

i. in any way that is misleading,

ii. in any trade name, trademark, domain name, uniform resource locator, email addresses or telephone number, unless the context clearly indicates that the use is not in connection with a multiple listing service or the advertising, marketing, and sale of real estate, and except to identify a multiple listing service as the source of listings being displayed, or the Subscriber as a subscriber to or participant in a multiple listing service,

iii. to state, suggest, or imply that the Subscriber is or operates a multiple listing service, unless Subscriber in fact operates a multiple listing service,

iv. to state, suggest, or imply that a multiple listing service provides services to the public, including advertising listings to the public, or that the Subscriber grants access to the public to a multiple listing service, except that Subscriber may (a) refer to the display of IDX Listings www.UtahRealEstate.com, or any replacement website, or similar websites operated by other multiple listing services, (b) state that Subscriber may include listings in a multiple listing service, (c) state that the listing will be available for advertising as an IDX Listing, and (d) otherwise identify the services Subscriber may provide as a result of Subscriber’s participation in a multiple listing service.

Okay, it might just be me, I might just be an idiot, but my understanding of the term MLS is obviously different than WFR's version of MLS. My definition of MLS is something like this:

"The database of information cooperating real estate agents use to pool their listings together for the benefit of buyers, sellers, and real estate professionals"

Now my definition of MLS Listings would be something like this:

"Real Estate listings by all cooperating local brokerages, all properties listed for sale, not just a brokerage, but excluding for sale by owner listings."

Now on my website, the reason big brother is threatening to vaporize me is because it says,

View Utah Real Estate MLS Listings

My reason for having this as the text link to my IDX search page wasn't because I was trying to mislead people into believing that I am the UTAH MLS. I was just trying to say in six words or less, "View Home, Land, and Multi Family, listings of all properties in Utah that are listed by cooperating real estate agents who post their listings on the Wasatch Front Regional Multiple Listing Service, not just the listings of Cornerstone Real Estate Professionals, but all the different brokerages, and these listings don't include For Sale by Owner property listings either."

Now Monday when I get to my office, I will change the term because as much as I hate to admit it, I rely on the MLS. If they vaporized me, my family might starve.

So why does "big brother" care so much? Why does it matter to them that I use the term "MLS Listings" on my website? Does the general public even know or use the word MLS? Do the seceretly covet MLS's and do all they can to get their mouse on one? WFR suggestests I use the term "IDX listings" instead. Regardless of what they call them, aren't they the same properties? It seems to me thats what the what the consumer wants. They just want to see online homes for sale with as much information as possible.

The answer is that MLS's feel that if we use their precious term, we are diminishing the power of it. By eliminating words from our dictionary, err marketing vocabulary, they have the power.... If they can get us to turn each other in for failing to adhere to the "MLS Policies and Procedures", then they are gaining allies that will help them maintain their iron fisted monopolistic rule.

So next time you are tempted to use the term "MLS Listings" remember, BIG BROTHER IS WATCHING YOU. There might be hope, their might be a solution to overcome the will of Big Brother, but that answer will have to come from someone else because I'm only on chapter 5.

More Starter Homes Selling in Logan

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 03 Sep 2009 16:59:18 -0500

Summer is the busiest time for real estate sales in Cache Valley. From June 1st through the end of August 2009 home sales were almost identical to home sales numbers in 2008. The difference, is in the type of homes that sold. The average sold price for Cache Valley Homes in 2009 was down 6.28%. The median home sold price was down 4.52%. This doesn't necessarily mean that home values are down this much, what this shows us is that the lower priced homes are the ones selling. I broke home sales down into four categories typical for Cache County Homes. These are generalizations, and just categories put together by price. Homes less than $120,000, I considered Low End Homes. Homes for Sale between $120,001-and $180,000 are Starter Homes, $180,001-$250,000 are Moderate Homes, $250,000-$400,000 are classified as High End Homes, and Homes above $250,000 I classified as Luxury Homes. This year home sales of the "Low End" and "Starter Homes" were up by about 10%. Many of these home sales can be attributed to the $8,000 first time home buyer tax credit. Home Sales for All other price ranges was down. Only 3% of the homes that sold during the summer were "Luxury Homes," however, nearly 12% of the active Logan Home Listings are in the Luxury Home price range. This represents a huge surplus in the Luxury inventory. Click Here if you want to see the pie charts showing the differences.

July Weber County Home Sales Sluggish

Alan Barker - Utah Homes (Cornerstone Real Estate) — Wed, 05 Aug 2009 17:17:32 -0500

During July, Weber County Real Estate sales were down by more than 19% compared with last year, and were even down 9.47% from last month. Sales prices in Weber County was also down by 5.36% compared with July of last year. There are currently 2261 Homes for sale in Weber County Utah. Including Ogden Real Estate, North Ogden Real Estate, Roy Ut Real Estate, Pleasant View Real Estate, Farr West Real Estate, Harrisville Real Estate, Riverdale Real Estate, West Haven Real Estate, and the other communities in Weber County.

At the pace homes sold during July, Weber County has more than eight months of of active inventory.

Logan Utah Home Showing Hotline 435-227-5595

Alan Barker - Utah Homes (Cornerstone Real Estate) — Tue, 04 Aug 2009 16:35:40 -0500

One of the most frustrating things for potential buyers entering the home buying experience is that they can't get hold of a Realtor to show them the homes they want to see. Let's be honest, today's home shopping experience involves getting a very good idea of what you are interested in looking at by viewing online real estate listings.

At this point in the home buying process, buyers don't usually realize the convenience and importance of using a buyers agent. One agent who will represent the buyer through the entire home buying process.

I get calls all the time from people who say they've tried talking to several different Realtors, none of who answered their phones. I'm usually pretty good about answering my phone, but occasionally I am sleeping, out of service area, or left my cell phone ringer on.

Well, at Cornerstone we have created a way to ensure that you can always get a competent, available, Logan real estate agent to show you the homes you want to see.

You simply have to call our home showing hotline number: (435) 227-5595

This number will then forward your call to the cell phones of six top quality Cornerstone Real Estate Agents. Which ever one answers fastest, and is available gets the call. I have only allowed the very best buyers agents to be in this program. These are agents that I would use myself.

This ensures that you can talk to a quality real estate agent whenever you want to for home showings in Cache Valley anywhere from Paradise to Lewiston Utah.

So, if you are a potential home buyer looking for Homes in Cache Valley, and are ready to start looking, remember you only have to make one phone call, and we will hook you up.

Has the Cache Valley Real Estate Market Hit Bottom Yet?

Alan Barker - Utah Homes (Cornerstone Real Estate) — Mon, 03 Aug 2009 17:37:41 -0500

Real Estate sales along the Wasatch Front from Davis County to Provo appear to be on the rise. Real Estate in Ogden, Box Elder County, and Cache Valley on the other hand look like they still have some work to do. It's still a buyers market here, and looks like it will continue to be for the rest of this year.

The deceiving thing is that Real Estate in Northern Utah never really boomed, and it also never really crashed. Real Estate for the Cache Valley, Brigham City and most of the Ogden Valley markets had above average increases, and now above average decreases. The real estate market this decade has been like a giant ocean with a rippling wave effect. Here in Northern Utah, we have only had little ripples.

For July, home sales in Cache County have were at their lowest level for July since 2003. The good news is that the number of homes on the market has decreased. There are currently 833 residential homes for sale in Cache Valley. At July's home sales pace, Cache Valley has nearly nine months of real estate inventory.

For more details visit the Logan Real Estate Market Conditions Blog

Box Elder County Real Estate Market Outlook

Alan Barker - Utah Homes (Cornerstone Real Estate) — Fri, 31 Jul 2009 18:00:54 -0500

The Box Elder County Real Estate market isn't looking as good as other portions of the state. Through the first 7 months of the year, Box Elder County home sales are down 35% compared to the same months last year. At this sales pace, Box Elder County has more than 13 months of active real estate inventory.

So far in 2009, 78 Brigham City Homes have sold, there are 105 Brigham City home listings on the market giving Brigham City 9.42 months of active inventory. There are only 6 Brigham City Condos for sale, and only two that have sold this year, so this statistic is pretty meaningless.

Tremonton's 2009 home sales are less than half of what they were just a year ago. There is also a good high number of Tremonton homes on the market 109, giving Tremonton more than 18 months of active inventory. Garland is in a similar situation, only on a smaller scale. There are just 25 Homes for Sale in Garland Utah.

Box Elder County Homes in Willard and Perry are the most expensive in the County. Willard Utah Home sales are actually up this year while Home sales in Perry are down. The homes for sale in Willard have a median list price of $261,400. Perry Utah Homes have a median list price at almost $270,000.

Home Sales for Rural Box Elder County are also way down. The median price of Rural Box Elder County Homes for sale is $209,000. Over the past two years the average sold price for the rural communities was in the $140,000's.

Lighthouse Pointe Model Home Now Open

Alan Barker - Utah Homes (Cornerstone Real Estate) — Tue, 28 Jul 2009 14:00:04 -0500

The model home and sales office at Bear Lake Lighthouse are now open.

This is a great community with affordable recreation and second homes. When you're up for Raspberry Days stop by the model home for a free Raspberry shake.

Lots are going fast, and there are special incentives for those ready to build, like free recreational vehicles, atv's, fourwheelers, and a paddle boat. You can also see the model home when you view the Bear Lake Parade of homes.

See more details by visiting: www.bearlakelighthouse.com

The Bear Lake Lighthouse community is listed by Cornerstone Real Estate Professionals of Northern Utah.

North Salt Lake, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 15:54:16 -0500

North Salt Lake Real Estate was one of the few to see an increase in number of homes sold. When it comes to sold price, North Salt Lake was quite a bit worse than the county average. Median sold price decreased 9.32% and average sold price decreased 31.66%. North Salt Lake is currently the city with the highest markups on price in the county.

Layton, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 15:26:01 -0500

One of the larger decreases in number of homes sold was experienced in Layton. Number sold went from 228 to 191 which is still actually more than what any other Davis County city sold. Sold price of Layton Real Estate also decreased. Median price decreased 2.61% and average price decreased 4.35%. Current inventory is almost 7 months and there are more than double the amount of homes in Layton for sale than there are in any other city.

Kaysville, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 15:02:05 -0500

Real Estate in Kaysville experienced the largest increase in number of homes sold, increasing 32%. Median sold price of Kaysville homes also increased but average sold price decreased 18.57%. Kaysville currently has 158 listings and 6.4 months of inventory.

Farmington, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 11:53:59 -0500

Farmington went from selling 44 homes to selling 41. Median sold price of Farmington Real Estate decreased 4% but average sold price increased about 4%. Today's median home prices are in the mid 300's and average prices are in the mid 400's. With 139 active listings, inventory in Farmington is 10 months.

Clinton, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 11:45:26 -0500

Clinton Real Estate experienced decreases, but all were in the single digits. Number of homes sold declined 6.8%, median sold price slipped 5.7% and average sold price decreased 5%. Clinton has the lowest inventory at 5.2 months. Homes in Clinton are priced pretty close to what they sold for in '08.

Clearfield, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 11:34:20 -0500

Homes in Clearfield experienced the largest drop in number of homes sold in the county. 38 less homes sold, decreasing 34%. Part of the reason may be because sold prices increased slightly instead of decreasing like most other cities. Average sold price of Clearfield homes took a small climb of about $1,000 and median sold price increased close to $7,000. Current home prices are not far off from what they were sold at last quarter.

Centerville, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 11:22:11 -0500

Homes sold in Centerville had a small increase from 23 to 29. Centerville Real Estate was also one of the few to see an increase in price. Average sold price stepped up 0.84% and median sold price increased 2.77%, taking sold price into the mid to upper $200,000 range. Considering the 69 Centerville homes currently listed, median price is 9.64% higher and average price is 19.38% higher.

Bountiful, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 11:11:10 -0500

Bountiful Real Estate sold 15 fewer homes last quarter, falling 22.4%. Sold median price fell about $27,000 and average price fell about $61,000. There are 205 actively listed homes in Bountiful and inventory is getting close to one year. Today's median price is in the mid-300's and average price is in the low to mid-500's.

Upper Ogden Valley, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 10:49:39 -0500

The towns of Eden, Huntsville and Liberty are feeling the crunch. Only 8 homes in the Upper Ogden Valley sold, which is only 3 less than what sold during the second quarter of 2008. The worst part is that there are 170 homes listed on the market, rocketing inventory to over 5 years. Both Median and average sold price of Upper Ogden Valley Real Estate dropped 34%, bringing sold price into the $200,000 range. Sellers currently have median and average home prices over 50% higher, taking prices into the one-half million dollar range.

North Ogden, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Thu, 09 Jul 2009 10:38:43 -0500

North Ogden was the only major city in Weber county to have an increase in number of homes sold. Even though only 7 more homes sold, percentage wise it was about 13% more. Not only that, median sold price increased 3% and average sold price climbed 0.78%. Inventory for homes in North Ogden is near the county average at 8 months and there are 163 active listings.

Ogden, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Wed, 08 Jul 2009 18:02:48 -0500

78 less homes were sold in Ogden, dropping about one quarter. Median sold price slipped just $750 but average sold price slid about $11,000. Ogden Real Estate has 8 months of inventory and 675 active listings. Ogden homes continue to be some of the cheapest around and are currently listed around the mid 100's.

Spanish Fork, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Wed, 08 Jul 2009 17:48:27 -0500

Median sold price in Spanish Fork decreased about $39,000 and average sold price decreased about $45,000. Real Estate in Spanish Fork sold almost 17% less homes, from 95 to 79. Inventory for Spanish Fork homes is 10.33 months and about 272 homes can be found listed for sale on the MLS.

Saratoga Springs, UT - 2nd Quarter 08-09

Alan Barker - Utah Homes (Cornerstone Real Estate) — Wed, 08 Jul 2009 17:29:56 -0500

Number of homes in Saratoga Springs that sold actually doubled to 132! That makes it the highest increase in the county by a long ways. Median and average sold price are somewhat close to the county average and are both in the $239,000 range. Price of active Saratoga Springs homes has been raised with median price up 4.36% and average price up 13.83%. Inventory is at 7 months.