Utah Realtors Say Their State Is Undervalued, Come Buy!

Written by Posted On Sunday, 14 August 2005 17:00

Rich in resorts, Utah is a popular vacation destination, but local Realtors say it's also the place to buy real estate.

Saratoga Springs

"The current outlook is very good," says Realtor Mark Watterson . Saratoga Springs is a resort community with natural hot springs. We have been through a weak cycle that has affected all areas of the state of Utah, mainly the Wasatch Front areas. However, this year looks very promising and I feel a 10 percent growth rate is extremely likely."

Watterson advises, "Some experts feel that Utah is undervalued by 25 percent, and we are looking at a jump in appreciation. With all the out-of-state investors looking into Utah, it can only improve our appreciation over current levels. This is an exciting time as we watch our most important investment become more valuable. This is a great time to be in the game and not on the side lines. The good news about the general market is prices are generally trending up. The market is turning rapidly to a seller's market. The east side of the valley already is a seller's market. As the surrounding markets cool off, our market generally heats up. As with any economy driven products there are cycles."

"Homes have ups and downs with the average over time being up," he adds. "Real estate is an excellent personal investment and in fact there are many professional investors in the wholesale market. I think this is because they are unhappy with the stock market or other investments."

Provo

Say the Realtors with the Silver Penny Team , "Provo has been rated as one of the most desirable places to live in the United States. Brigham Young University is located here along with several technical schools. It is a city with quite a bit of diversity in its population. You have everything from starter homes to mansions and everything in between. It's a great place to live."

The Canyons Resort (near Park City)

"The Canyons Resort is the area's newest resort, with fantastic skiing accessed by a gondola, and world-class spas and dining," says Realtor Kaz Burnz . "Located just seven minutes west of Park City proper, this area offers some great ski access and the potential for growth, yet is still close to all the shopping, dining and activities of Park City. This area also includes the Snyderville Basin, an area of mostly primary homes. The Canyons area is still one of the best buys as home prices have increased only 11 percent and not yet caught up with the 54 percent increase in number of homes sold compared to the Jan-May 2004 period. In addition the number of condo sales has increased 47 percent, and the price increase compared to the same period last year is up 25 percent. Interest rates are low and the real estate market is active. Don't miss your opportunity to buy or sell your property."

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