report: Salt Lake Real Estate Housing Update Spring 2018
- 04/17/18 12:18 PM
Is the Salt Lake Real Estate Market in a bubble? What is the housing outlook and forecast? What's going on with mortgage interest rates and why? Are homes still affordable? Text me at 801-999-8889 for a free report that answers these questions and much more. Factors affecting the Salt Lake Housing market this spring include: Significantly tighter lending standards are keeping prices in check Demand for housing remains robust Interest rates have to be raised Employment figures Not enough new homes Not enough homes for sale on any given day There are more Millennials than any other group looking for housing Home affordability Condos & Townhome … (3 comments)
report: Utah Housing and Mortgage Trends Compared to Other States
- 10/26/11 07:26 AM
U.S. Housing and Mortgage Trends (Source: October 2011 report by CoreLogic) The homeownership rate is down... almost 10% compared to the homeownership rate in 1980. The median household income is down... (lowest level since 1996) Both renters and owners are spending a greater percentage of their income on housing costs (over 1/3 of their income for both groups. Renters are generally paying 5.2% more of their household income toward housing expenditures than homeowners. 66% of foreclosed properties became REO, i.e. Real Estate Owned ("bank owned") More investors are skipping the foreclosure auction in favor of buying the REO homes directly from the bank. Sales … (0 comments)
report: Salt Lake City is the Least Stressful City in America!
- 09/09/10 06:13 PM
According to a just released report on Portfolio.com Salt Lake ranks as the least stressful city in the US! Considerations for ranking the cities in the report include commute time, outdoor activities, health, employment levels, income growth, crime, pollution, murder, cost of housing, personal finances... even how many days of sunshine they get each year. The report ranks the 50 largest metropolitain areas in the United States and according to its findings, there is no place less stressful to live than Salt Lake City, Utah. Are you thinking of relocating to the least stressful big city in America? Don't make a … (2 comments)
report: 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)
report: 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)
report: 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)
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)
report: 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)
report: 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)
report: Hot markets - can you trust the national media?
- 01/09/08 02:49 AM
OK. Don't get me wrong. The real estate market in Salt Lake is doing better than most places in the country. I just want to point out to the person who isn't involved in real estate on a daily basis (i.e. the consumer) that the actual truth about the market is often slightly different than what you hear in the media. In an age of instant messaging, blogs and fiber-optic data transmission, you would expect to be able to keep a pulse on something so large as the housing market. In a recent Money Magazine article, Real Estate: Last of the red-hot markets printed … (6 comments)
report: Salt Lake Market Guestimates
- 01/02/08 12:04 PM
An ActiveRain Friend asked the following: "I was reading an article that said the Midwest is starting to get a little better,but that the States out by you are going to feel the brunt coming on a little more now. How is the market by you? I was thinking of moving in the future, and I like that area. Is the market getting softer for listings?" 2007's final statistics should be out soon and this is what I think they will say: The total number of Sold listings is down (either slowing, or at a minimum, less percentage are selling than last year) Homes that aren't … (0 comments)
report: NAR's Price Analysis for the Salt Lake City Metro Region - October 2007
- 11/02/07 09:20 AM
October 2007 NAR's Price Analysis for the Salt Lake City Metro Region states that "Home prices in the Greater Salt Lake City Metro Region are still booming." I wouldn't say "booming" - I would say still rising - at about 9% (based on 3rd Quarter Statistics). Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission. The report also comments on Utah's low unemployment rate and the fact that national mortgage interest rates are still historically low. Even so, it does mention the slowing in home sales and specifically attributes the slowdown to sellers who are overpricing their homes: "Sales activity has come down notably … (0 comments)
Is the Salt Lake Real Estate Market in a bubble?
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