Attention Buyers: Buyers boarding…Ahhhhlll Aboard! This is your cruise ship captain and I would like to welcome you all aboard our cruise ship “Buyers Brilliance”. No need for Dramamine here because this is going to be a smoooooth ride.
Hey, you over there kicking back in your lounge chair on the shore, haven’t you heard about the Buyers Market? Oh, you say you’re scared and just want to kick back and watch the other buyers to see what is going to happen? I completely understand, you’ve been hearing a lot of mixed information about the real estate market. If you climb aboard you will find that our market is all about YOU the buyer. So, my recommendation to you, “Don’t Miss the Boat”.
So grab a drink,sit back in comfort, enjoy the sun and take it all in as we cruise across the ocean to have an overlook of exactly what a Buyers Market is.
Now is a great time for buyers in the real estate market because it’s just that, a Buyers Market. Is what that means, is there are more homes up for sale than there are buyer’s. That means a whole lot for YOU.
With the annual absorption rates, which are based upon the past years performance you will see how many months inventory we have right now. It was inevitable that we would find ourselves in a much needed Buyers Market to balance out the market as a whole. That balance creates a “normal market”. As a benefit to you, the buyer, seller’s are providing many incentives for you to get out and buy real estate.
What are those incentives, you ask?
- More homes in the inventory to choose from, existing and new builds. (see example below for current inventory and absorption rates)
- Sellers contributing to closing costs, buy downs, bonuses, price reductions on 250k+ and inclusions.
- Mortgage rates are very low at this time which gives you the availability to get more home for your price and to keep your payments down.
This will be the foundation for you to build upon your dream of buying a home in Utah. Before we pull into the dock there are some important points to remember so that you can get started on achieving your dream of buying a home in Utah. Whether you are a First Time Home Buyer, a buyer purchasing your 2nd+ home, relocating from another state or have a military transfer to Hill AFB the following steps will help you to achieve that goal.
- Call your lender to get pre-approved. If you don’t have a lender, call Julie Neerings REALTOR®, she has a great team of lenders that will provide you with exceptional service.
- Call Julie Neerings REALTOR® for a FREE consultation to discuss your wants and needs in a home and then Julie will take you shopping for a home.
- Start planning your move and fulfilling your dreams of homeownership in Utah.
- Keep updated on market trends, homes available and much more by visiting the Heart of Utah Real Estate website and Heart of Utah Real Estate Blog.
Thank YOU for joining us on the cruise of "Buyers Brilliance" and many wishes to you for a 2008 to be filled with your goal of homeownership.
SINGLE FAMILY Absorption Data as of 1/15/08 from WFR Multiple Listing Service, content not guaranteed
LEGEND: 0-7 mo. =Sellers Market; 8-11 mo. =Balanced Market; 12+mo. =Buyers Market
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Julie Neerings, GRI- Heart of Utah Real Estate Copyright © 2008- If you are considering buying, selling, military relocations to Hill AFB or relocating to Utah, you deserve local expertise and advice to be provided by a professional in real estate. Julie Neerings is a Utah REALTOR® providing full time, professional real estate services to buyers and sellers in the cities of Layton, Bountiful, Woods Cross, West Valley, West Jordan, South Jordan, Riverton, Herriman and all surrounding cities.
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Julie, you did an awesome job with this market report, but...I though Utah was land locked. You have cruises??? LOL