Selling your Salt Lake City home? Get a free home value report
Buying a Salt Lake City home? Search all homes for sale
Buying a Salt Lake City home? Search all homes for sale
Let’s look at the market today. First of all, we can expect continued growth this year. That’s because there are a ton of buyers looking right now, but there aren’t many homes on the market. Salt Lake City will also see continued job growth. Since more people are coming into our area, job growth will help the real estate market significantly.
Next, interest rates will affect home values. If rates go up, that will affect how much people can afford. Values have gone up faster than any type of wage increase. People do have a ceiling on what they can afford, which will affect the value on that property.
Now is a good time to make a lateral move. Now’s the time to move into a more long term property and tap into that low interest rate. If you’re still renting a home, there are three things you need to consider.
- Rent rates are still rising. We can get you into a home now for less money than it would cost you to rent.
- Stick to fundamentals. If you’re looking for a home, look in good areas for good homes. That way, if something does happen, we will know that we can rent those properties out and be okay. We don’t want to get caught in a negative cash flow situation.
- Save some cash. Put money away for a rainy day. Things break down in homes. Plus, if there’s a good opportunity to move up, cash is always helpful.
If you have any questions about today’s video, give us a call or send us an email. We would be happy to help you!
