What not to ask when selling your home: "What is my home worth?" or "What will my home appraise for?"  This is not the right way to understand the value of your home. An appraisal is an estimate of value or to put it more simply; one person's opinion of the value of your home. As we all know that opinion is not necessarily fact, it's important to know that there is no such thing as an absolute number that your home is worth

Here's what happened to one seller of mine. The buyer's appraisal of their home came in $70,000 below list price. Yikes! After hiring 3 different appraisers on the same house all 3 came back with very different "opinions" of value. After 2 weeks of convincing the banks, the buyers, and the REALTORS, I was able to sell the home for…

1328 Views, 0 Comments

Read Full Post

It is expected that Utah's population will double within the next 35 years increasing to nearly 5.4 million residents. Most Utahn's will be living in the concentrated area of the Wasatch Front. More people means more houses and more cars with a limited area of land. When it comes to housing most Utahns feel like high density housing is the solution.

Community Aerial Photo

Tomorrow's population issues are already being addressed today and the market is reacting. We are seeing smaller lots for single family homes and more apartment complexes developing with low vacancies. There has also been a demand for more dense neighborhoods designed for walk-ability and public transit. Residents have stated that these features are essential in keeping future housing and transportation…

1983 Views, 0 Comments

Read Full Post

I am constantly asked, "Is it a Buyer's market? or a Seller's market?"

We are in a unique situation right now so I can honestly answer, BOTH!

Some areas are in high demand and have low inventory. That is the definition of a Seller's market. An article in the LA Times explains how low supply is causing "fierce competition" in high demand areas. This is great news for sellers. If you have a home in the right place, and list for the right price, you could have a bidding war on your property. With higher competition, sellers can get top dollar for their home. Based on recent statistics these Hot Spots are a "seller's market".
 
Hot Spots to Sell (sellers market)
 
#1 - Saratoga Springs (84045)  $350K - $400K
Your chance of selling?     Homes for Sale
 
#2 - Salt Lake…

1222 Views, 0 Comments

Read Full Post