Sell your Tooele Utah House This Spring

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Now is the time to sell in Tooele

Sell your Tooele Utah house this spring ! Jump in; climb on; get with it. There will never be a better time. That’s what most of the real estate professionals are saying, and it seems they have the facts on their side. They are saying things like…..

Prices are back to pre bubble territory: Homeowners have equity again so sellers don’t need to clutter up the market with short sales.

Mortgage rates, while starting to climb are still a great value and well below what they were just a few years ago.

There are other reasons as well, and when I saw this article from Keeping Current Matters yesterday, I knew I should share with my peeps that are sitting on the fence wondering what they should do. If you are one of those, then read what KCM has to say, look at my comments and then if you feel the need, Call me Berna Sloan 435-840-5029. 

 

5 Reasons Why to Sell This Spring! | Simplifying The Market

5 Reasons Why to Sell This Spring!

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

I say: The anecdotal evidence is overwhelming, listing agents in Tooele Utah are discussing the different ways to handle multiple offers to maximize profit to their seller clients. Buyers agents are requiring more in depth approval letters, larger earnest money deposits and I even saw an agent in Stansbury Park submitting personal letters attached to offers. They were a sales piece designed to possibly tip a decision in their buyers favor.

2. There Is Less Competition Now

Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

My take on this is that while the complaint is not enough homes for sale in Tooele County , the problem is twofold:

  1. Quality listings are needed. Most of the current inventory consist of the dogs and cats that have been picked over.
  2. The major pool for Tooele home buyers IE: Salt Lake City, is NOT aware of the tremendous price advantage just 35 minutes down the freeway.

The value proposition is particularly noticeable in the larger lot subdivisions in Grantsville UT and horse property in Erda Utah.

Once word gets out that by adding as little as 10 minutes to a commute time a family can save $40 or $50,000 on new construction in Stansbury Park or Lakepoint UT. the market will continue to cook.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 45 days.

I think this is one of the great benefits to come out of this housing boom in Tooele County. Buyers are ready to make a decision the day they start looking.  Lenders have a head start on the paperwork needed to underwrite the loan, and agents know exactly what the bumps in the road could consist of. If handled properly everyone is educated and everyone is prepared.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 4.8% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

What I would like to say about this is perhaps counter productive. But,,, In Tooele County, luxury home generally means a large home with lots of land. Lifestyle out here is not about saunas and steam rooms and pools or helo pads. In Tooele County homeowners cherish the outdoors and wide open spaces. A horse or two with a nice barn as an amenity separates what everyone can afford and a premium home. Stockton Utah, Rush Valley and some of the newer projects in Grantsville UT go a long way to show of what we would call luxury homes in our county. Take a look at the homes with over 3 acres listed as being for sale on the MLS.

In Tooele Utah we’ll see your solarium and raise you a pig and 3 chickens. (and maybe a goat).

In short, if a putting green in your backyard is your choice as favorite thing, we might not be for you.

5. It’s Time to Move on With Your Life

If you really think you should sell your Tooele Utah house this spring, then pay attention to this reason. Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

I think maybe I should have lumped the last 2 deals together. Luxury or lifestyle was the comparison I was trying to make.

But I had a tough time with luxury. No problem with lifestyle. Maybe that’s the way Tooele is. Our luxury is our lifestyle.

We like the opera……. but we like race cars and motorsports better. We think that the ballet is a good thing. but Easter Egg hunts and bareback riding after the fourth of July parade is better. We don’t want to leave our gated community to visit our horses, we want to walk outside and feed em a carrot.

So even though it may be time to sell your house in Tooele, unless you can replace those things you love so much. Don’t call me. Stay right where you are.  We like the neighbors.

Sorry if I got a little long winded, but I wanted you to know how I feel about living out here. When you decide you do too, call me, Berna Sloan 435-840-54029. I’d love to help you sell your Tooele Utah house this spring.