county: Why fewer housing starts in Salt Lake is a good thing. - 08/19/08 02:44 PM
I know you know this, and I know this, but the media doesn't seem to get this...
Fewer housing starts are a good thing!
(Well, at least for now.)
Remember how builders overbuilt and there was a glut of inventory on the marketplace?
Remember how builders were offering the craziest incentives rather than lower their asking prices?
Remember how appreciation all but ceased as thousands of overpriced homes sat on the market?
Well, it would appear that the excess inventory in the Salt Lake Real Estate marketplace is shrinking. Both existing and new construction.
The fact that builders have slowed production … (1 comments)

county: Does the "Right" way to buy a home change? - 02/13/08 05:37 AM
Last year, CNN Money posted a Spring Home-Buying Guide.
The link is:
CNN Money - Spring Home-Buying Guide: 6 ways to do it right
They say to get pre-approved first, shop at least 4 or 5 lenders, work with an agent who will represent you only, etc. etc. etc.
The most important factor is making sure you have someone on YOUR side of the transaction, protecting YOUR interest and working to get YOU the best price and terms. If you have an Exclusive Buyer's Agent on your side, they should help ensure that you are doing the rest of the important things.
Do it Right!
Homebuyer Representation, … (2 comments)

county: Salt Lake's Smartest Homebuyers! - 02/06/08 08:14 AM
What clients are saying about Homebuyer Representation, Inc. Utah's Exclusive Buyer Brokerage!
"We wanted someone who would work with us and not be constrained or biased by their own listings or those from colleagues in their same office or group. Benjamin was extremely responsive and even did virtual walk-throughs with us via video on the web. With his help, we found the ideal home."Benjamin came up with a brilliant approach that gave us a real advantage in the negotiations. We closed at a price well below the original asking price. We are extremely pleased with the property. Thank you Benjamin!"-Vance Checketts Family, Provo, Utah
"I … (0 comments)

county: Salt Lake City is a Perfect Example - 02/01/08 04:37 AM
This snippet is from a recent Forbes.com article on rent affordability. What caught my eye was the phrase I bolded and underlined below.
"Behind The Numbers When people move to an area, they often do so because of a job. That's why migration figures and job growth are invariably intertwined. As an expanding local economy lifts salaries, housing prices grow because buyers have the money to pay for better properties. Salt Lake City is a perfect example. (emphasis added) The metro's high job-growth rate has resulted in huge in-migration and a housing market where prices grew by double-digit percentages last year.
But … (0 comments)

county: Client Christmas Card 2007 - 01/24/08 05:04 PM
In case you missed our Christmas Card this year, here it is:
Dear Family and Friends,
We have had a pretty busy year this year. Through about August, the Real Estate market was still in its prime and Ben was as busy as ever helping people with their home purchases. Somehow we managed to fit in some family time:
For our 10-Year Wedding Anniversary we went on a cruise to Mexico. Spring enjoyed the cruise because it was a welcome break from her busy routine in the PTA; Ben was able to relax because he didn't have to think about how much everything … (4 comments)

county: Salt Lake County - 2007 Total Year Real Estate Sales Report - 01/22/08 11:26 AM
I ran this report for 4th Quarter 2007 and thought that some of you would be interested in looking at the entire year's statistics.
Report Generated from the Wasatch Front Regional Multiple Listing Service
Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage serving Salt Lake and surrounding areas. We do not list homes and we don't represent Sellers. We work for BUYERS ONLY on the Buying side of the transaction, to get the BUYER the Best Price and Terms... "We're the Real Estate Agents who Represent the Home Buyer" TM
For more information, just call us at (801) 969-8989 or contact us via the link … (2 comments)

county: Salt Lake County 4th Quarter Comparisons 2004-2007 - 01/22/08 11:04 AM
Looking at the Fourth Quarter of 2007 for the Salt Lake County Market reveals some interesting facts.
Keep in mind that this information is not necessarily comprehensive as it only takes into account data from the Wasatch Front Multiple Listing Service, but most homes in Salt Lake County sell by Multiple Listing and this data is probably pretty representative of the market at large.
Look at the data and we will analyze it below.
First, DOM - Days On Market increased. In the 4th Quarter of 2006 homes that were priced near enough to market value to sell were selling in 33 days. In … (1 comments)

county: Salt Lake County 4th Quarter 2007 Days on Market Report - 01/22/08 10:32 AM
This graph shows how long homes took to sell in the 4th quarter of 2007.
This is only for SOLD homes. As you can see, for homes that DID sell, the average time on the market was 44 days.
The percentage of homes selling in 30 days or less was 43.7%.
The percentage of homes selling in 60 days or less was 72.3%.
The percentage of homes selling in 90 days or less was 88%.
The percentage of homes selling in more than 90 days was 12%.
This sounds good if you are a Seller. However, remember, this is only the time on the market … (1 comments)

county: Salt Lake County 4th Quarter 2007 Sales Activity Trend Report - 01/22/08 10:16 AM
Here are some numbers from 4th Quarter 2007. I'll only use the final number in other calculations but I thought some people might be interested in seeing it broken down by Price Range as seen in the table below. (This data is for SOLD homes.)
Data from Wasatch Front Regional Multiple Listing Service
Homebuyer Representation, Inc. services home buyers in Salt Lake City, Utah and surrounding counties.  We work for Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
Exclusive Buyer's Agents do not list homes and don't represent Sellers. If you are thinking about Buying a … (0 comments)

county: Historical Salt Lake Market Statistics with Graph 3Q 2003 - 3Q 2007 - 01/04/08 05:12 AM
Yes, this is old news but it shows the historical data and trends for the Salt Lake County Market.
The next official reports (which we are all waiting for) will be posted on January 20th, 2008. While we wait I will also look at the monthly data for October and November and the data I can extract myself for December and we can see if we can estimate whether the trends are still following the course they were on at the end of September.
Average Home Sales per Quarter Salt Lake County Last Updated: October 20 2007 02:09:13Source: WFRMLS Statistics
 
Brief Summary:
Average … (2 comments)

county: What Factors are Affecting Salt Lake's Market? - 10/09/07 09:43 AM
There is surely a lot of inventory available. Buyers have more choices. They are not forced to deal with unreasonable Sellers. In most cases they can find another suitable home where the Seller is more reasonable.
Let's compare 3rd Quarter Numbers.  (See Salt Lake County 3rd Quarter Statistics)
Last year, there were 8458 new listings in the 3rd Quarter. This year, there were 10489 new listings. That is 2031 MORE HOMES available, while at the same time the average increase in SOLD price of homes dropped from 23.85% to only 9.56%. (Still, VERY respectable.)
The average percentage of new listings that sell is also … (2 comments)

 
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