I was driving home today for lunch in 67 degree weather hoping it snows tomorrow. Now don't get me wrong I live for the warm temperatures of our mountain dreamland, and because I play hockey indoors on an ice sheet, I am not as dependent on the white "Fat Flakes" that fall from the sky as most of the residents and visitors around these parts are for their recreational bliss.
But, because I am a REALTOR® in a ski town, and visitors equall business, I think it is about time we got the show on the road. Let's face it - we have friends coming to town this week and they would have liked to hit the slopes bfore their turkey dinner. The bad news is they will in all likelihood be dissappointed this year.
I was talking to my brother-in-law, Bill Osborne last night about this; the lack of snow and about Park City Mountain and The Canyons Resorts delaying their opening days. He reminded me that in 1982 we had a similar dry and warm November. He then proceeded to tell me that that winter turned into the most epic powder he has ever experienced to this day - so let's hope.
The conversation got me thinking - knowing local facts is important. This is so true in today's real estate market. Listening to a local radio station today I heard some mortgage lender's sales pitch - quoting the fact that "2 MILLION OWNERS with ARMS" are going to flood the forclosure markets! HURRY REFINANCE NOW!! If you want to save your property - hurry, hurry, hurry!
If I heard this, and was contiplating getting a dream home or ski condo I would be hesitant. I mean he just told me that forclosures are on the rise. If I was an owner I would do as this man asked and HURRY. HURRY, HURRY. If I was a Buyer I might just sit right back down on that proverbial fence. Afterall - according to the latest government census Utah will only have a population of 2,995,000 in the year 2015! By any man's calculations this would be a whole lot of Foreclosures for such a sparsly populated state to handle - the world must be coming to an end.
Then because I am a smart guy (well, according to my dog) - I realize that this over zealous, fast talking radio spokesman was saying that there were 2 million owners with "Ajustable Rate Mortgages" across the nation who might flood the market; and in his opinion because some poor soul was in a declining real estate market in some distant area of our great country --- we here in Utah we better beware.
As a REALTOR I find this type of "scare tactic" worrisome, just as my brother-in-law pointed out local knowledge can show you that things aren't always as bad as some people say. In my last post I pointed out that quantity of local real estate sales are down but prices are not falling across the board.
It is so important to get local knowledge when trying to tell the difference between good and bad. Michele Cone is our Hughes Martin Sells Team Buyer resource. Let us give you the information that will help you know what is happening in our ski town. Email us at info@hughesmartin.com and Happy Holiday - if you are planning on coming this weekend or this winter stop in and say hi and here is hoping for another epic POWDER YEAR!
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