market: Glut of Overpriced Homes Hurts Everyone - 06/29/09 01:39 AM
People who don't really need to sell their home should not put them on the market at ridiculously high prices.
Prices don't go up 20% just because Sellers LIST their homes at 120% or more of market value. In order for prices to stabilize and/or improve, inventory levels need to … (0 comments)
|
market: Early 2009 May Be the Best Time to Buy a Luxury Home in Salt Lake - 12/06/08 10:36 PM
We all know that the Salt Lake area real estate market (and the economy at large) is doing better than most areas of the country. Still, some things have slowed considerably.
Some things that have slowed the most:
New Construction Permits
The Time it Takes to Sell a Home (Days on … (3 comments)
|
market: Downpayment Assistance Programs (DAPs) or, The "Money-Go-Round" - 10/03/08 02:37 PM
Downpayment Assistance Programs are being allowed less and less. One "stated" reason is that they likely helped contribute to the breakdown of the real estate market.
Here's how a downpayment assistance program (DAP) usually worked:
The Seller would give 3% plus some "administration fee"...
(sometimes 1% of the Purchase Price)
… (0 comments)
|
market: Salt Lake City, Utah Job Market Among the Most Healthy in the Nation - 10/02/08 04:22 PM
The latest Conference Board Press Release (Dated October 1, 2008) shows some areas of the country where the number of available jobs exceeds the number of unemployed. One of those cities (the one at the top!) is Salt Lake City, Utah.
The Conference Board reports that "35 of [the] top 52 … (4 comments)
|
market: Bailouts Bids Benefit Banks but Borrowers Being Abandoned - 10/01/08 03:03 PM
Why are we bailing out the banks when consumers were duped into the cruddy loan products the banks sold them...? (At least some of them were "up-sold" the ARM or some other ridiculous loan, perhaps with an inflated Debt/Income ratio as an added bonus?) Why should businesses be saved when consumers … (7 comments)
|
market: Provo-Orem and Salt Lake City, UT at top of 2008 Best Performing Cities Index - 09/15/08 04:19 PM
The Milken Institute ranks metropolitan areas by how well they create and sustain jobs, wages and salaries and technology.
Their report, dated September 10, 2008 shows Utah's Largest Metro Areas strong atop the list of over 200 Large Metropolitain areas nationally.
Provo-Orem comes in at #1 with Salt Lake City at … (0 comments)
|
market: Most homes sold in Salt Lake County (July 2008) were priced $300,000 or less - 08/29/08 11:50 PM
Good news for those hoping to buy (or sell?) homes under $300,000 in Salt Lake County:
The Salt Lake Board of Realtors said this week that 71 percent of home sales in Salt Lake County in July were for properties priced less than $300,000. The most active price range was from … (1 comments)
|
market: Salt Lake Real Estate Market Update - 08/29/08 11:31 PM
Well, it's that time of year when OFHEO (The Office of Federal Housing Enterprise Oversight) posts all the real estate data that leads to posts such as this.
It looks like Salt Lake comes in at 1.9% home value appreciation from June 2007 - June 2008. This is pretty much exactly … (0 comments)
|
market: Salt Lake City Real Estate - 2nd strongest metro price increase in the west - 08/26/08 06:39 PM
Salt Lake area home prices (for homes that actually sell) appear to be relatively flat at this time. The good news is that it would appear that Salt Lake still has some cushion considering that the median existing single-family home price "in the West" was $290,600 and Salt Lake came in … (0 comments)
|
market: Salt Lake Real Estate Update: Number of Sales Down - Prices Slightly Up - 05/03/08 02:07 AM
First Quarter 2008 showed only small improvement in home prices and the number of SOLD homes was also down.
Fourth Quarters and First Quarters are historically low, while Second Quarters and Third Quarters are historically higher with regards to the number of SOLD homes reported.
There has been increased activity over … (1 comments)
|
market: Forbes Rates Salt Lake City as One of Nation's Top 10 Recession Proof Cities - 05/03/08 01:52 AM
Salt Lake City actually pulls in at Number 6 on Forbes' list of the top 10 Recession Proof Cities in the nation in a report posted on April 29th, 2008.
What factors led to it's top 10 placement?
Median Home Price is up 2.5%
Unemployment is low at 3.1%
Education and … (1 comments)
|
market: Salt Lake City - 3rd Best Place to SELL a home - 04/14/08 01:22 PM
Last week Forbes.com put out a picture story about the best places in the United States to SELL your home.
Here's what they said:
The story makes a few interesting statements about Salt Lake's ecoonomy that I thought should be considered by anyone considering a move to the area, as … (10 comments)
|
market: Salt Lake Real Estate Market Musings - 1st Quarter 2008 - 03/28/08 11:58 PM
It will be interesting to see if the slowdown during the Fall (which causes numbers in the Winter to be lower) was as dramatic as it seemed.
I'm curious if Spring and Summer might actually do very well due to many hesitant and fence-sitting Buyers who are now confidently purchasing homes … (3 comments)
|
market: Salt Lake Real Estate Market Update - Days on Market - 03/28/08 11:54 PM
As you can see from the graph below which analyzes the average number of days on the market it took for a listed home to sell, you can see that this is one statistic that has actually followed a pretty smooth pattern over the past 6 months.
Days on the market peaked in … (1 comments)
|
market: Salt Lake Market Update - 1st Quarter 2008 #1 - 03/28/08 11:38 PM
Take a look at this graph that shows Average List Prices and Average SOLD Prices in Salt Lake County over the past 6 months and tell me you don't see the same thing that I do:
Salt Lake appears to have gone through a minor slump during 4th quarter 2007 and the … (3 comments)
|
market: 20-30 Year-Olds Help Sustain Utah's Economy - 02/26/08 11:21 PM
The New York Times printed an article explaining how the percentage of Utah's population in the 20 to 30 year-old range has helped keep its economy strong over the past few years while other areas of the nation have suffered.
The article focused on the job growth sector of the economy, but … (7 comments)
|
market: Utah Leads Nation in Price Appreciation (STILL!) - 02/26/08 06:42 PM
The Office of Federal Housing Enterprise Oversight has issued the report we have all been waiting for...
Utah still leads the nation in home-price appreciation!
Of course, these reports are a little behind the times and I wouldn't expect anyone to believe that homes appreciated at 9.7% for January or February. I'm still … (4 comments)
|
market: To Buy Or Not To Buy? This is the Answer (Salt Lake City, Utah) - 02/17/08 09:49 PM
Salt Lake Market in a Nutshell (February 15, 2008):Number of Homes Listed: UPNumber of Homes Sold: DOWNList Prices: DOWNSOLD Prices: UP
To Buy or Not to Buy: BUY
It's a Buyer's Market. What are you waiting for?
If you are thinking about buying a home in the Salt Lake area, make sure you get … (3 comments)
|
market: Salt Lake City, Utah Real Estate Market Update (Feb 2008) - 02/17/08 09:47 PM
Salt Lake's Tribune released an article titled "Utah home sales plunge" on February 14th, 2008.
It starts out by saying that Salt Lake is now caught "in the middle" of the national downturn.
Is this true, or just an attention grabbing headline?
If you read the entire article and not just the headline, you will … (0 comments)
|
market: Ummel Case - National Association of Exclusive Buyer Agents Statement - 02/10/08 12:46 AM
Being an Exclusive Buyer's Agent and a member of the National Association of Exclusive Buyer Agents (Disclosure: I'm also on the Board of Directors), I was excited to see the following article on FoxBusiness.com:
Buyer Agent Organization Comments on Ummel Home Buying Case
The Association's position is simply that part of a Buyer's … (6 comments)
|
;)
Links;)
Archives
