Thursday, December 6, 2018

Is Our Market Undergoing a Shift?



Our market is undergoing a bit of a shift, but this is normal and nothing to be alarmed about.

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For the past several years, we’ve seen our real estate market go up and up and up, but lately, things have cooled off a bit.  Prices are softening—not as many buyers are inquiring about our listings, and we’re not seeing as many showings happening.

The good news is that this is nothing to worry about. The housing market goes in cycles that typically last seven to 10 years. When interest rates rise and prices go up, these factors essentially make the housing market adjust.

Unlike other parts of the country, our job rate isn’t going down, and we still have a lot of people moving here.


In our case, it’s not a housing availability issue—it’s an affordability issue. Home prices and interest rates have risen so quickly that it’s made homes unaffordable for many people. We’ve also heard new construction builders say they won’t be building as many homes above $500,000.

Our local economy, however, is still doing fantastic. Unlike other parts of the country, our job rate isn’t going down, and we still have a lot of people moving here. This shift is nothing to be scared of, but it’s still something to keep in mind moving forward.

If you have any more questions about our Salt Lake City market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.

Friday, November 2, 2018

4 Things to Consider When Buying an Investment Property



Considering investing in property? Here are four things to keep in mind.

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How do we know when a property is a good investment deal? There are four major things we need to look at to before we decide to buy:

1. Pricing. Is the property price in line with the market, as well as features of the home? We need to pull values and look at criteria, such as curb appeal, bathrooms, and amenities. We want the price to make sense with what we’re getting.

2. Features and benefits. You need to decide if it’s worth paying potentially tens of thousands more for a good view or a pool. Is there an exit strategy for us if we need out? These are things to keep in mind.

We want the price to make sense with what we’re getting.


3. Location. Sometimes the best deals aren’t actually places we ourselves would want to live. We have to think of it from the perspective of, “Could I see myself living here? Would I want to stay here for years? Would I be happy here long term?”

4. Condition. You may love a property, but it could become a money pit if it’s in bad condition. We purchased an investment property and had to renovate it for $250,000. With properties such as this, it doesn’t matter what the details, location, and benefits are—a place in bad condition needs a long, hard look.

If you have any questions, need information, or have video topics you’d like covered in the future, we’d love to help you out. Please call, email, or message us; we look forward to hearing from you.

Monday, October 22, 2018

Take Advantage of Fall and Sell Now



There are five primary reasons why fall presents a great opportunity to sell your home quickly and for top dollar.

Selling your Salt Lake City home? Get a free home value report
Buying a Salt Lake City home? Search all homes for sale

Here are the top five reasons the fall is actually a great time to sell your home.

First, there’s less competition on the market. During this time, a lot of other home sellers end up taking their homes off the market because their kids are busy with school, they have work obligations, or selling at the end of the year just doesn’t make sense for them.

Second, buyers are more motivated to buy. They want to get into a home before the holidays arrive or before the end of the year. It’s possible that some have been searching since the summer, and they’re ready to become homeowners now.

During this time, a lot of other home sellers end up taking their homes off the market.


Third, interest rates are still phenomenal. Interest rates have adjusted, and sometimes when that happens, affordability becomes an issue. If you sell now, though, you can still lock a buyer into a low rate.

Fourth, homes show beautifully during the fall. 92% of all buyers start their home search online, and 64% will pay more for a home that looks move-in ready. This is why a lot of folks who plan on putting their home on the market in December or January are taking photos of it now.

Lastly, it’s a lot easier to move now than when there’s snow on the ground.

If you’d like to put your home on the market now or you have any questions about our market, don’t hesitate to reach out to me. I’d love to help you.