Highland; Current Market Conditions

By
Real Estate Agent 5660894-PB00

We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months.

PRICE ACTION

 Highland

 

 Other good signs in addition to positive price action is lower DOM (days of the market), lower new listingsand higher percent of new listings being SOLD.  

SUMMARY

Has the Utah Real Estate Market bottomed?

Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  We are seeing more signs of a bottom coming into play.

Investors with a long term buy and hold strategic.  Opportunities are making sense.  Contact your property resource specialist for information to make an informed buying decision.

Owner/occupied homeowners need to look at the cost to own versus the cost to rent.  Buying is making sense for many, as we continue to see signs of the market bottoming and with the current cost of money. 

You need consultant a resource specialist for information to make an informed buying decision. 

High and medium risk tolerant investors and some homeowners are making buying decisions

Low risk tolerant buyer -- with the bottoming signs in play.  If your waiting for a market bottom to buy.  You'll most likely miss it. 

No risk tolerance buyers will most likely always be renters.  That's ok.  Investors will always need good renters to make their mortgage payments for them.

risk

Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperienced buyer and extremely difficult. 

Those waiting for a market bottom confirmation will (almost always) miss the bottom.  This is because confirming factors are lagging indicators.

 

 

 

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 Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc.

Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties.  View comprehensive property resource information at www.markwatterson.com or www.UtahMark.com    www.whiteravengroupllc.com

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Topic:
Real Estate Market Trends
Location:
Utah Utah County Highland
Groups:
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Tags:
market conditions
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highland
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Rainmaker
647,599
Team Honeycutt
Allen Tate - Concord, NC

I enjoyed reading your statistics on your current market conditions in Highland. You presented them in such a way that could be understood easily. 

Jul 18, 2010 06:01 AM #1
Rainmaker
1,908,347
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Mark

Is the market in your area still taking a large hit or is it getting better?

Feb 12, 2011 02:04 AM #2
Rainmaker
1,908,347
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Mark

Is the market in your area still taking a large hit or is it getting better?

Feb 12, 2011 02:04 AM #3
Rainmaker
1,908,347
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Mark

Is the market in your area still taking a large hit or is it getting better?

Feb 12, 2011 02:04 AM #4
Rainer
154,420
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado

Jun 07, 2012 06:09 AM #5
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Rainmaker
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Mark Watterson

Utah Real Estate
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