I get to publish last weeks Tooele UT Real Estate information from Berna today. I hope you don’t mind.
Berna & Chris are in Washington D.C. at the National Association of Realtors directors conference until tomorrow. (More about that later).
There were some great articles worth sharing from KCM while she was gone. Articles national in scope but very meaningful when translated with a local bent. Berna & Chris like to approach local information like that so that we are sure to keep our clients up to date about issues in the business that are trending so we don’t get caught with any real estate surprises.
No one does that better than Berna, but since she’s not here I will do my best.
This week we posted articles about the housing shortage and how lack of inventory in Tooele County was causing people to back out of the market, and how looking @ new home construction could take some pressure off of home buyers and their agents.
In the same vein, good listings were generating multiple offers w/in hours of showing up on the MLS. It is pointed out in her post that skill in making the offer is becoming more & more important. Hint, use an agent that has been to more than one rodeo
Lastly, since it was suggested that some buyers have decided to sit on the sideline until the market changes to more fairly represent them we talked about the cost of NOT owning your own home. In other words, what it may cost to “sit this one out”
So, here they are, click on the graphics to see what people on the national level have to say and then if your interested, read my comments
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
My take on this was to point out that our local market is in much worse shape from a buyers standpoint than homebuyers around the country. Inventory is down and most good listings are going from listing to close in a very short time. The alternative is, or can be new construction. Because land costs are less, fees and permits are often less than in Salt Lake County many builders have been land banking building lot inventory. Great buys on a new house can still be had. Almost 40% of the Tooele County homes listed on the MLS have been built 2017. Many of those listings are spec homes that are just a color decision and a title search away from closing. Here are all of the new home construction listing today in the County.
See how far your dollars will go on new construction out here.
So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true! Freddie Mac covered “4 … Read More
This is my advise re/ making an offer in such a competitive environment. Find a GREAT LOCAL AGENT, and listen to them. If you really want the home you may need to do more than just offer more money. Actually that may kill the deal. (ask Berna to explain that when she gets back). You need to think in terms of price of course, but also things like closing dates, concessions, strength of qualifying letter, contingencies, and tons of other things that will make the seller feel good and only experienced local agents might know about.
Owning a home has great financial benefits, yet many continue renting! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported that: “With Rents continuing to climb and interest rates staying low, many … Read More
Berna doesn’t give investment advise and neither do i, but there are enough articles floating around the internet about the advantages of appreciation, leverage, lifestyle and just the many studies that show owning your own home is good for the overall growth of the family. I think she blogged about owning VS renting last week. I encourage you to give that a good read.
More Real Estate Information From Berna
That’s about it. I hope you have found this to be helpful information. When you come to the point where you have made a decision to move forward, I hope you will consider Berna and Chris @ Group1 Real Estate as a competent local partner. They have done this before… a lot!
And they are professionals.
This is the 13th straight year I believe that Group1 has represented you at the National Association of Realtors directors meeting. They give up valuable time in their business to make sure the voices of their folks are heard, and the industry is able to continue as the foremost representative for your property rights. It’s not a thankless job, but it is a tedious one and one that can be costly in a market like this.
This year was a little different. The “J” man, one of the 6 grand kids is along to learn about what has happened and what happens in our nations capital. It is a great experience for all.
It was worth it.
So….. when you are ready call them Berna or Chris Sloan 435-840-5029.
Lets hope next week you’ll get your Tooele UT real estate information from Berna.