Such a sad story!  Homeowners who were underwater and behind on their payments were promised a solution that made matters even worse.

A Lawyer approached these struggling home owners with a promise of rescue. The lawyer told these struggling home owners that they had a good case against the bank. It's a lawyer, they must know what they are talking about right? They were told that if they paid the lawyer instead of the bank they would get their home free and clear and not have to pay the bank anymore.  

Well, it looks like the promises were unfounded, and the homeowners hardships have increased.

If you are in a similar situation, be very cautious, there are some scary scams out there. If you have questions about short selling your home

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If you have been watching the number of homes on the market, then you saw the trend: inventory has gone down. In fact the active inventory this month is 25% LOWER than last January. That represents the lowest supply of homes in a long time. Supply has definitely gone down!

See supply for other counties here

  Another interesting statistic is the recent increase in demand. There are 30% MORE homes under contract than there were last January! Demand is also going up!

See demand for other counties here

  What happens when supply is low and demand is high?   We have the ingredients for a hot market. The last time we saw demand come this close to active inventory was back in 2005. Do you remember what happened then? This was…

2012 is off to a great start! Web traffic on real estate websites is up considerably. This means there are more people interested in purchasing homes.   The current inventory of homes available is remarkably low right now! Often times when buyers find a good home they have to compete with many other offers if they want to get the home. This is a great opportunity for home sellers in areas with high demand. How do you know if there will be demand on your house? Check out my Hot Spots where I track rising demand in local markets.

It is also good to follow Hot Spots if you are looking to buy a home. If you know where the demand is you can make educated offers to ensure you get the home you want. It is important to be able to move quickly when you

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The New Year is a great time to review the past, evaluate the present, and plan for the future. If you have any resolutions involving Real Estate I have the resources to help you accomplish your goals.

Review the Past

Year to Year Home Sales Statistics

The housing market follows seasonal trends. This resource gives you a quick month to month comparisson over the past three years. It includes a year to date sales number so you can see how many more homes sold in 2011 versus 2010 and 2009. These graphs are broken down by Salt Lake, Utah, Davis, Weber, and Tooele Counties so you can look at the data most relevant to your real estate needs.     Last 18 Months in Depth This break down provides an in-depth look at the housing market right…