Market Analysis

Found 13 blog entries about Market Analysis.

This home was built by the same builder and is the same floor plan in Daybreak. Both of these homes were listed in the summer with top real estate agents. However, the result is very different…

HOUSE A

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Sold for $83,000 less Than House B!!! 4 months on Market. Had an extra Fireplace in Master and 2nd Kitchen in Basement. Same style of flooring and paint as House B.

 HOUSE B

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goBE SOLD by Utah Dave! Sold for $83,000 More than the other listing! Sold in the First Weekend on market. 

When choosing a good Realtor to work with make sure you choose one that has experience and PROOF of RESULTS! Call 801-966-4000 to see more proof.

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EXHIBIT A: Listed with a different Brokerage

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The home above was on the market 4 months and NEVER SOLD. Last listed at $339k (Below what we sold the exact home for shown below) This home has 3 tone paint, real hardwood floors, updated colors, and modern white kitchen with granite and backsplash. It's also partly fenced.

 

EXHIBIT B: Listed with Utah Dave @ goBE Realty

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Meanwhile, this home sold for $340k in 3 weeks.   It only has 2 tone paint and brown colors. Formica counters throughout kitchen and upstairs instead of granite like the home above.​ Laminate hardwood not real hardwood floors. Also, no fence on this home as opposed to the partially fenced home that dind't sell. The only other difference between this home and the one above

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Same Builder... Same House... Same Area... Same Time on Market.... VERY DIFFERENT RESULTS

 

THEIRS: (LISTED WITH A DIFFERENT COMPANY: good experienced agent and brokerage)

House 2On the market for almost 2 years!

Ended with a Lease Option for thousands less than ours. 

Fully finished basement with wet bar

Larger yard/ lot

More upgrades in Master Bath

 

 

OURS: LISTED with UTAHDAVE of goBE Realty

Offers within a few days!House 1

Sold for $345k

Only a partially finished basement

Smaller lot than comparable home above

 

 

Utah is a non-disclosure state on sales price. To gain sold data on listings that aren't ours call 801-966-4000.

As you can see in the apple to apple comparison that you see above, the real estate

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FHA loan limits have increased! The FHA loan limits went from $304,500 to $312,800 in Salt Lake County. What dose this mean to buyers and sellers? If you buy in Salt Lake County with an FHA loan purchase price (typically putting down 3.5%) this makes your ​purchase power increase from last year approximately $8,000.

Something for Sellers to keep in mind: if you list your home for $325,000-$440,000 you are only making your home available to buyers that are able to put 5% down (this price range is above the 3.5% down FHA limit). However;  if you list at $325,000 you then add a plethora of buyers to your purchasing pool by including 5% down buyers AND 3.5% down buyers. This makes your home an option for many more buyers and your ability to sell that

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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

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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

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The numbers are in!

Here are the top ten zip codes for 4th quarter 2010. These areas had the most existing home sales accross the state.


#1. Taylorsville/Kearns (84118)
      151 homes sold
       Median price: $138,000
Current homes for sale

#2. Lehi (84043)
      144 homes sold
      Median price: $210,000
Current homes for sale

#3. Farr West (84404)
      128 homes sold
      Median price: $133,225
Current homes for sale

#4. South Jordan (84095)
      127 homes sold
      Median price: $272,000
Current homes for sale

#5. Clearfield (84015)
      117 homes sold
      Median price: $160,000
Current homes for sale

#6. Draper (84020)
      111 homes sold
      Median price: $349,900
Current homes for sale

#7. Tooele (84074)
      104 homes sold
 

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The Ground Hog saw his shadow meaning an early Spring. What does this mean for the housing market? Will there be an early increase in home sales? January and February are historically lower in sales, but this year we've seen demand increasing during the cold months. This is a great sign!


As the demand increases more homes will become available on the market. Right now the number of homes on the market is extremely low. This is great news for sellers.

At the beginning of each month I look for the 5 areas with the highest probability of selling. These areas are Hot Spots! Low interest rates won't last forever, and are likely to increase soon. If you live in one of these hot spots, now is the time to list your home and start looking for a new home to

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Now that it is a new year I keep getting asked by friends and clients if 2011 is the year to sell. My response is always: "Take a look into my Crystal Ball!"

The Crystal Ball uses recent sales and homes on market statistics to predict the probability of a successful sale. It also arms you with valuable information the market over the past year. Homes on Market (supply), as well as Homes Sold and Homes Under Contract (demand). It also offers an average Months on Market, so you know what time-frame you may be looking at. This information prepares you to sell your home when demand is the highest.   Each month I look for the 5 areas with the highest probability of selling. These areas are Hot Spots! If you live in a Hot Spot we should evaluate your…
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Utah’s local Economist, who has been proven accurate in past statements, speaks about today’s economy. The past couple of years I have been following Kelly Matthew’s market predictions. As a testament to his knowledge of local market fluctuations, Wells Fargo has been able to weather the economic storm better than most other financial institutions by using his predictions. 2 years ago, Kelly said prices for Utah’s housing would have to come down. In January of last year he said it looked like the inevitable was happenening and predicted that 2009 would be a bottom. Recently Kelly Matthews spoke, with another Wells Fargo Investment Strategist, about the current market. You can find the full article hereon KSL.com

What did they say?

It looks

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