market: Buyer Praises Exclusive Buyer's Agent: I Always Knew He Was On My Side - 01/27/14 08:23 AM
I have known and worked with Benjamin Clark since 1994. He is a good person. Honest, helpful, patient and trustworthy are words that come to mind as I try to describe him. He is a family man. In working with him I always felt like he was really listening to me and that he really cared about my best interests. 
I bought a building lot with his help. He is very thorough and absolutely resourceful as a buyer's agent. He provided timely information as I researched the market conditions and found the information I needed about previous and comparable sales. I … (1 comments)

market: 2012 Salt Lake Housing Forecast Report - 01/18/12 07:34 AM

I attended the 2012 Salt Lake Housing Forecast Meeting this morning. The two presenters this year were Eric Belsky, Managing Director of the Joint Center for Housing Studies at Harvard University and James Wood, director of the University of Utah’s Bureau of Economic and Business Research. While Mr. Wood's remarks were pointedly local, Mr. Belsky's report covered the state of the housing market nationally, with concluding remarks to show where Utah stacks up among the states.
The expectations? Cautiously and realistically optimistic. Realistically meaning that while there were no bold statements of certain recovery, the outlook is that things are … (0 comments)

market: Salt Lake Among Healthiest Housing Markets in the United States - 11/22/11 02:57 PM
Builder Magazine ranks Salt Lake City, Utah as having the third healthiest housing market in the U.S.
Good things happening in the Salt Lake City metropolitain area:
Income growth next year is expected to be one of the best in the country. Job growth this year was 2nd best in the country. (Over 35,000 new jobs last year) Population continues to grow. New companies in a variety of sectors keep moving to town. We have some great colleges, universities and tech colleges in the area. Residential building permits are up 16% (Salt Lake REALTOR Magazine, Nov 2011) Residential home prices are … (2 comments)

market: Hire a professional, not a fortune teller who lost their crystal ball! - 06/14/11 10:17 AM
Many buyers ask their agents questions about what they think the market/seller/interest rates will do. It seems the prevailing attitude by many real estate agents is to laugh off such questions, or retort with a witty comment such as, "My crystal ball is on the fritz." Their response is more like that of the famous Magic 8-ball: "Reply hazy. Try again." And try again they do. Because they didn't hire a fortune teller to help them buy a home, they hired what they thought was a real estate professional.
Have we hit bottom? Should I wait to buy a home or … (5 comments)

market: Home Prices Up in 6 Salt Lake County Cities - 02/08/11 08:26 AM
This is in no way a suggestion that the market has hit bottom in any of these areas, but in the fourth quarter of 2010 home prices were actually up in 6 Salt Lake County cities. We'll have to wait until we are into the Spring season to see if the trend continues in these areas and if it spreads to other communities in the county.
The 6 cities where values were up were:
Draper (84020) - UP 7% West Jordan (84081) - UP 6% Sandy (84092) - UP 12% Herriman (84096) - UP 10% Salt Lake City (84103) - UP … (0 comments)

market: Home Prices Down 6% in Salt Lake County - 02/08/11 08:12 AM
As an Exclusive Buyer's Agent I'm constantly exposed to the inventory on the market in the Salt Lake area.
There are still a ton of overpriced listings on the market, but that's improving.
1. Inventory is actually falling. My gut feeling is that the majority of homes coming off the market are from sellers who mistakenly thought their house was different from the others and that somehow it could commmand pre-bust pricing. Which leads us to point #2:
2. Fewer sellers are putting their homes on the market at ridiculous prices. Homes are finally being discounted to reasonable prices.
Here … (0 comments)

market: Utah 2nd Healthiest State - 04/14/10 04:55 AM
Old news, but good news.
Utah moved from 5th healthiest state to 2nd healthiest state in the U.S.
Utah ranked either first or second in the following categories:
Prevalence of smoking Infant mortality Cancer deaths Prevalence of binge drinking Children in poverty Preventable hospitalizations. Vermont ranked as the Healthiest State.
Article Link
Moving to the 2nd Healthiest State?
If you have excellent credit and will be buying a $300,000-$800,000 home within 90 days and would like an agent who will work exclusively for you, make sure you get an Agent on YOUR side of the transaction! Make sure you hire an … (6 comments)

market: Glut of Overpriced Homes Hurts Everyone - 06/28/09 06:39 PM
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 shrink or the number of Buyers needs to increase significantly, and quickly.
It doesn't help anyone if more than 63% of the inventory on the market is significantly overpriced.
I work with Buyers Only. We see LOTS of homes. Many of my clients write offers on multiple homes before we … (2 comments)

market: Early 2009 May Be the Best Time to Buy a Luxury Home in Salt Lake - 12/06/08 02:36 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 the Market) The Number of Home Sales for Homes Priced Over $400,000 New Construction
The good news is that less new construction actually will help slow the supply, which will help equalize the market sooner, meaning a healthier housing market.
Days on the Market
Currently, however, inventory (supply) still substantially exceeds the number … (3 comments)

market: Downpayment Assistance Programs (DAPs) or, The "Money-Go-Round" - 10/03/08 07:37 AM
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)
to a "neutral" third party "non-profit corporation"...
(Did I mention they sometimes took up to 1% of the Purchase price in exchange for providing a paper and money shuffle?)
who would then "gift" that money (well, just the exact amount needed) to the Buyer to use as a Down Payment. … (0 comments)

market: Salt Lake City, Utah Job Market Among the Most Healthy in the Nation - 10/02/08 09:22 AM
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 Metro areas post over-the-year declines in job demand." Those living in the Salt Lake City area have a lot to be greatful for. The real estate "boom" here started late and ended early when consumers saw surrounding areas starting to bust. Home values have held fairly flat, which is pretty … (4 comments)

market: Bailouts Bids Benefit Banks but Borrowers Being Abandoned - 10/01/08 08:03 AM
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 will lose their homes? The whole mess came about because loans were made that shouldn't have been made... (hundreds of thousands of loans, maybe even millions of them!) The facts are:
Buyers should come in with down payment, Home prices should be set at an affordable level (by offering sound … (7 comments)

market: Provo-Orem and Salt Lake City, UT at top of 2008 Best Performing Cities Index - 09/15/08 09:19 AM
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 #3. Ogden, Utah came in at a respectable #18 and Saint George, Utah ranked #4 among the nation's "smaller" metropolitain areas included in the report.
While employment and job creation don't make up the whole of an area's economy, they certainly contribute to it's general health. Growth in the employment … (0 comments)

market: Most homes sold in Salt Lake County (July 2008) were priced $300,000 or less - 08/29/08 04:50 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 $200,000 to $250,000, the board said.(Salt Lake Tribune)
A majority of my clients thus far in 2008 have purchased homes between $250,000 and $500,000.
Here are my thoughts on this "announcement":
It's easier to get a mortgage for homes priced at $300,000 or less There is a higher percentage … (1 comments)

market: Salt Lake Real Estate Market Update - 08/29/08 04:31 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 what I was hoping for and expecting about a year ago, as well as what economists were saying was a good thing to happen to Salt Lake's market.
Why was I hoping appreciation would slow to a crawl, and possibly stop?
See, if homes continued to sell for 10-20% higher … (0 comments)

market: Salt Lake City Real Estate - 2nd strongest metro price increase in the west - 08/26/08 11:39 AM
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 at only $234,200.
In the West, the median existing single-family home price was $290,600 in the second quarter, which is 17.4 percent below a year ago. After Yakima, the strongest metro price increase in the West was in the Salt Lake City area, at $234,200, up 0.5 percent from a … (0 comments)

market: Salt Lake Real Estate Update: Number of Sales Down - Prices Slightly Up - 05/02/08 07:07 PM
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 the past few months, with Buyers who held off purchasing in the Fall and Winter, joining those who would normally be purchasing at this time of year.
Still, there is a surplus of inventory, but recent reports show that new construction has slowed and new construction surplus inventory is shrinking.

market: Forbes Rates Salt Lake City as One of Nation's Top 10 Recession Proof Cities - 05/02/08 06:52 PM
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 Health Services are growing at 5.5%
Relocating to the Salt Lake City area soon? Make sure you get an Agent on YOUR side of the transaction!
If you have excellent credit and will be buying a $250,000-$750,000 home in the next 30-60 days and would like an agent who will … (1 comments)

market: Salt Lake City - 3rd Best Place to SELL a home - 04/14/08 06:22 AM
Last week 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 well as by those of us who live, work, and own homes here.
Here they are, paraphrased by me:
1."Salt Lake's growing economy was not housing reliant"
2. "Salt Lake has a 3% annual job growth rate"
3. "Salt Lake has declining home inventory" 
4. "Salt Lake has one of … (10 comments)

market: Salt Lake Real Estate Market Musings - 1st Quarter 2008 - 03/28/08 04:58 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 again.
If this is true, it could lead to inflated numbers over the Spring and Summer and as the pool of Buyers slows again to what would be a more "normal" rate in the Fall and Winter, those numbers could look bad next year, where in reality they would only appear to … (3 comments)

Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) Rainmaker large

Benjamin Clark

Buyer's Agent - Certified Negotiation Expert

Salt Lake City, UT

More about me…

Homebuyer Representation, Inc.

Address: PO Box 701481, SLC, UT, 84170-1481

Office: (801) 969-8989

Mobile: (801) 999-8889

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