Navigating an upside-down home value. The ins and outs of short sales.

Out of the 14,000 homes on the market across the Wasatch Front over 25% are short sales. Why are there so many short sales on the market? Some misconceptions about the purpose of short sales have led many to frustration, loss of money, and even getting scammed. It is important to be educated, patient, and complient when considering a short sale.

Short Sale Graffiti

As the market continues to dip, the number of people with hardships increases. This is one cause for so many short sales on the market. However, another theory suggests the popularity of short sales is more psychological. Malcolm Gladwell included the "Graffiti Theory" in his book Tipping Point. In New York the

I just came across a report that confirms what I've been saying for almost 2 years! People are getting tired of living in crowded homes and putting their lives on hold. The "demographic component of housing demand is strong; it’s just the economic and psychological components that are holding things back". New households are being created faster this year than they have since before 2007.  With a low inventory of homes available this could go a long way to help jump-start the housing market.

Over the past few years we have seen an increase in the "moving-back-in-with-Mom-and-Dad" phenomenon. College graduates have been unable to find jobs upon graduation and return to live with their parents. Now that employment is begining to recover these graduates are

We just passed the one-year anniversary of the First Time Home Buyer Tax Credit expiration. How has the market been since then? Pretty flat. The number of homes sold has been pretty steady for the past few months. But it is just starting to rise. There are signs of life! 

The inventory has not caught up with the increasing demand so the good properties are getting all of the offers. If you have been waiting to sell your home, now is a great time. If you live in one of these zip codes, contact me quickly while the demand in your area is hot.

If you don't live in one of these Zip codes, it still may be an opportune time to sell. Sign up for a free Market Report or a Home Analysis to see when the timing is just right for you.

1. Salt Lake City,