Utah Home Appraisals: How They’re Done + How They Impact You

In part one of this two-part blog series, we went over some of the simple facts to be aware of when it comes to appraisals in the real estate market. Performed to assign a professionally-determined value to a property's value during the sale process, the appraisal is one of the single most important parts of any homebuying situation. 

At Daybreak Living, we're happy to assist our clients as they move through the process of looking to buy a home in Daybreak, Utah from any of our beautiful villages and neighborhoods. This incudes important pieces of the process like the appraisal, which we'll help you understand fully when the time comes. Today's part two of our series will go over a few additional facts to be aware of regarding real estate appraisals.

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Home Appraisals: Basics, Requirements and Ordering

There are several important steps that take place during the homebuying process, and one of these involves the professional, objective evaluation of the value of a given property. This is known in the real estate world as the appraisal process, and it's one that all buyers should be aware of as they begin scouring the market. 

At Daybreak Living, we're happy to walk our prospective buyers through all the important parts of the process if they're looking to purchase any of our homes, condos or townhomes for sale in Utah. This includes all the valuation elements that may go into your process, such as appraisal. What is appraisal, why is it required, and what are some other important details to be aware of? We'll go over everything in this two-part blog…

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South Jordan Makes Top 10 Fastest-Growing Cities in the U.S.

Newly released data from the 2020 Census Bureau shows some significant growth across the state of Utah and more specifically, the city of South Jordan.  Comparatively speaking, South Jordan still remains the least populated city in Utah with 77,487 residents, but since the last census in 2010, SOJO has gained 27,069 people, a 54% increase.  Here's how a few other Utah cities fared: Salt Lake City, which remains the most populated city, grew by 13,283; West Jordan surpassed Provo to claim the 3rd most populated city with 116,961 residents (1% growth); St. George knocked Ogden out of the 7th position by gaining 22,445 residents for a total population of 95,341.  The Bureau also named St. George metro as the 3rd fastest growing in the U.S.  According to the…

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Utah's Insane Housing Market

Is Utah's housing marketing starting to mirror that of San Francisco and the Bay Area?  According to Bankrate.com, Utah has been deemed the "king of its national housing heat index".  Why is Utah such a desirable place to live amidst a world wide pandemic?  Utah boasts the nation's strongest pace of job growth, near rock-bottom unemployment rate, low mortgage rates, and low state and local taxes. When Covid-19 began, and working from home started to look more like a permanent solution to stopping the spread of the virus, many Bay Area residents started searching for a new place to live.  The East Bay Times reported that nearly 115,000 residents moved out of the Bay Area.  The situation was quite opposite for the state of Utah; people flocked here, but for…

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High Density Housing in Salt Lake County

High density housing is on the rise throughout Salt Lake County and has been for the past 10 years, but what affect has it had on the housing market, like single-family homes? The University of Utah did a study on this subject and found that the increase in high density housing actually increased the value of single-family homes.  The study concluded that Salt Lake County homes that were located within .5miles of new apartment complexes experienced a 10% annual increase in the average value.  This was in comparison to single-family homes located further away from apartment projects. The research also narrowed the findings into four quadrants and found that the most value occurred in "West" Salt Lake Country, which is comprised of Rose Park, West Valley…

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COVID is Changing How We Live

COVID-19, to simply state, has forced us to make drastic changes in our normal lives. In addition to social distancing and wearing masks, many people are now working from home indefinitely and families have chosen to home-school their children. Dining rooms have been converted into home offices, bedrooms are now classrooms, garages resemble home gyms, and yards are make-shift gyms. Finding dual purpose for rooms, that were once our sanctuaries or private spaces, tested our creativity and imagination.  In doing all of that, homeowners did get creative and across the US, we saw more home improvement projects both inside and out.  We also saw home "wish lists" change and more buyers wanting bigger yards and different floorplans.  A recent survey from…

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Daybreak Named Top 5 Best-Selling Master Planned Communities

Daybreak has been deemed #5 in the U.S. for Top-Selling Master-Planned Communities of Mid-Year 2020! Year to date new home sales in Daybreak are up 40%! All this despite living through a pandemic. New home sales did have a small hit in March and April as stay-at-home orders we implemented. However as restrictions lifted there was a sudden surge of demand in home sales. 

Communities, like Daybreak, that are able to offer a variety of housing options and different price points continues to be key for growth in these master planned communities. Low inventory coupled with high demand keep builders and development busy expanding these areas. 

For more details…

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Understanding Real Estate Homeowners Associations, Part 2

In part one of this two-part blog series, we went over some of the basic factors connected to homeowners associations, or HOAs. These groups, which often hold sway over a given neighborhood or housing community, may be responsible for numerous important areas for you to consider if you’re thinking about one of the real estate listings in this area.

At Daybreak Living, our numerous homes for sale include several communities or areas where HOAs are present and active. In today’s part two, we’ll go over a few other important areas you should be considering if you’re thinking of moving into a property that’s part of an HOA.

HOA Management

One important area to understand in advance is how the HOA is managed, as not all are run in the same ways.…

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The latest 411 on the 84009

According to USA Today, South Jordan is among the top 50 cities in America to live in.  A contributing factor in South Jordan achieving this status is the rapid growth of Daybreak, attracting 400+ new residents a year.   Once completed, Daybreak will nearly double the size of South Jordan, which currently has just over 69,000 residents.   Other factors include the 4.1% poverty rate and 3.0% unemployment rate.  What does this mean for those looking to buy or sell in the 84009? According to the Salt Lake Board of Realtors' third quarter statistics, South Jordan ranked number 9 out of 10 for most expensive zip codes along the Wasatch Front.  The average price for a home in South Jordan is $441,592, a hike of 8% compared to last year's third quarter stats. …

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"Shopping Math"

Have you ever wanted to buy a home but aren't quite seeing eye to eye with your partner?  Often times priorities can be different but here's a great way to convince your partner that the home you want is the best choice for both of you. Just remember: "shopping math is different than regular math!"

Can't argue with that logic!

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