Realtors and buyers alike are admitting there is a housing shortage in Tooele UT, new homes are the answer.
For the last month or so, good local listings are as scarce as the proverbial hens teeth. Plus within hours of listings appearing on the MLS sellers agents can be faced with the problem of sifting through multiple offers evaluating which ones they should suggest that the home owner pay particular attention to.
Buyers and sellers agents both need to think back (if they have been in the business that long) to make sure they still know how to legally and effectively present offers to the homesellers.
It’s been awhile since delayed closings, contingency offers, and seller concessions (the 3 Cs) showing up on an offer to purchase could automatically disqualify without further review.
I hear daily from potential buyers that have stopped looking at houses to buy and tell me that they will re-enter the market when it calms down, and looks less like an auction and more like a transaction based on value & need.
What Is The Housing Problem
The post yesterday that I shared from Keeping Current Matters, pointed out that it was not just a local problem. That it just wasn’t a Utah problem or a Tooele County problem.
In fact the article was titled “the answer to housing shortage = new construction.
What KCM said was that nationally the market featured about a 4 month inventory of homes & since a 6 month inventory is considered a normal market the problem in Tooele is that here we have only one half of that. To further dramatize what this means is that from the day the house is listed on the MLS until the sale is closed and recorded is often less than 60 days. Two months ago the number of days on market for homes sold was only 27 days.In April of this year the report from the Wasatch Front Regional MLS indicated that the actual sales price of listings in Tooele County was 102% of asking price.
Here is the article from KCM.
Here Is The Answer Solving The Problem Of Limited Resales
Be sure to click the link to see all of the narrative.
The biggest challenge to today’s housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four months. This is the major reason home prices have continued to appreciate at higher levels than historic averages. The good news is … Read More
Where Can I Find New Construction Homes In Tooele County?
Fortunately local builders are rushing into the breach to help solve the home buying problem in Tooele. In fact, in a market that currently has a little over 190 listings, 68 of those have been built in 2017. Here are some cities where you can find new homes.
- Tooele County new homes being built or spec houses.
- New construction homes in Tooele City
- New homes in Stansbury Park
- New construction in Grantsville Utah
- Lake Point UT new construction homes
- New houses in Stockton UT
That should give you some ideas about starting research on buying a new home in the valley.
You can find out about me, Berna Sloan on my website. Please click on me
If you find something you like I hope you will give me a chance to arrange the showing. If you have read any of my posts about buying new homes in Tooele you know that I am a strong advocate of having your own representation when shopping new construction. In most cases it’s free and could very well save you thousands of dollars and a mountain of headaches.
Call me 435-840-5029.
I know about the housing shortage in Tooele UT & that new homes is the answer.