Salt Lake Real Estate
While the number of homes sold increased sharply in the 2nd quarter 2010, prices continued to come under pressure. The number of single family homes sold increased 7.98% to 2746 compared to the same quarter last year, while at the same time the median home price fell 7.13% to $220,000.
The bright spot in the [...]
Continue reading about Second Quarter 2010 Salt Lake County Home Prices
March was a little bit of a mixed bag when it comes to Salt Lake County home sales. On the bright side the month on month days on market (average time taken to sell a home) decreased from 87 to 80, number of homes sold increased 30.09% year on year and over 51% month on [...]
Continue reading about March 2010 Salt Lake County Home Prices
While home sales in February did not exactly set the world on fire, there was further evidence that the Salt Lake County housing market is stabilizing. The number of home sales was not great, but was still a 3.84% gain over those seen in Feb 2008. The average time taken to sell a home remained [...]
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With the expiration of the First Time Home Buyer Tax Credit at the end of April, we will be holding a FREE seminar to go through the Home Buying process. This class will be held twice at the Salt Lake Community College Miller Campus in Sandy on MARCH 23RD and MARCH 30th.
This exciting new [...]
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October home sales in Salt Lake County saw a sharp increase compared to the same time last year. There were 1002 homes sold which was a 17.74% increase over October 2008 and a 6.26% increase over September 2009. The average sale price went up 0.4% to $239,924 compared to September 2009. The price per [...]
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For the first time since November 2008, there were more than 1,000 homes sold in Salt Lake County. June saw 1,191 homes sold, for an average sales price of $261,218. While the average sales price was slightly down on the previous month, the price per square ft. increased to $105, the highest level seen since [...]
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In a recent study by the Utah Association of Realtors, when people were asked what are the top three challenges in the Utah Housing Market, the number one response was ‘lack of housing affordability’. Second was the ‘current state of the economy’ and third was ‘difficulty in getting a loan’.
The question is, is this [...]
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If you are looking for a place to rent, Salt Lake is an expensive place. Rents went up 8.8% from 2006 to 2007, with a further 6 to 8% rise expected this year. This coupled with a vacancy rate of just 4.5% means tough times for those looking for a rental property.
These are not my words, they are from a recent article in Forbes Magazine. According to the magazine article, Salt Lake is the sixth most recession proof city in the U.S. This is based on the fact that the city’s unemployment rate is low, that we are still creating jobs and that the housing market [...]
The Salt Lake high-end housing market recently received a boost, when conforming loan limit went up from $417,000 to $729,750 in Salt Lake County, Tooele County, and Summit County.
This increase means that Fannie Mae and Freddie Mac can now provide loans up to $729,750, which should result in a much-needed boost to the Utah [...]
Continue reading about New Lending Requirements for Jumbo Loans