The real estate market here in the Salt Lake area seems to be in a bit of a changing environment, finally. The third quarter residential sales numbers are a little mixed from 2008 to 2009. Median sales price is down about 6% while list price is down almost 13%. This can be good or bad news depending on your situation. On the up side, sales volume is about level and the inventory of homes on the market is down substantially, around 20%. All this makes it look like we have hit bottom in the market, and while prices may only level, this is good news for both buyers and sellers. Other big news, it looks like Congress will extend the new home buyers tax credit and also include existing home owners. It is not law yet so I will wait to give details until it is, but this could be great news for those of you that are interested in making a change. For those of you interested in investment and commercial property, prices are still very much on a downward trend and financing can still be challenging. That being said, real estate may be one of the best options looking forward due to a number of reasons. Please feel free to contact me for more information. What does this mean for the buyer? It is a buyers market but the desperate seller is starting to disappear as market activity has picked up, especially in the lower price ranges. There are still a lot of foreclosure, bank owned and short sale properties available. It is a great time to buy a home as interest rates are still low, there are buyer incentives available, and prices are now affordable. Negotiating the right price is essential. If you would like assistance in getting the home work done and finding that right house please feel free to contact me. What does this mean for the seller? I repeat, it is still a buyers market and prices are not what they were two years ago. That being said, homes in good condition priced right are moving and in many cases moving quickly. The inventory of available home is down, especially in the lower price ranges. Price and marketing are very important and you must be patient and knowledgeable to sell your home at the best price in the shortest time. Please feel free to contact me for any assistance you may need. How about the investor? This is the time to buy! Buyers are in the driver's seat and you can negotiate a good deal on most properties. On the down side, because of the economy vacancies are on the increase and rents have leveled. This may be temporary as once the economy recovers this will reverse quickly. The other wild card is inflation. If you feel inflation is on the horizon this is the time to buy to beat it. Financing is available but it is more difficult than it was over the past couple of years. What this means is, if you have cash to put down and a strong credit rating, this is a good time to buy. Please feel free to contact me for further information.
ZIP Codes: 84101, 84102, 84103, 84104, 84105, 84106, 84108, 84109, 84111, 84112, 84113, 84116 Location Characteristics: This is the place to live, work and play. Located in the Salt Lake Valley next to the beautiful Wasatch Mountains it was chosen by Outdoor Adventure magazine as one of the top ten places to live. Come and see why this is becoming one of the fastest growing areas in the western region.
About Steve Bojack:
Whether you are looking to buy or sell real estate, you understand that it is a major financial decision. When you are looking for a real estate professional to assist you in these transactions, whether a first time buyer or a seasoned investor, you are interested in finding someone who has the knowledge and background to assist you in finding the property that suites you. This means someone who is focused on your needs and desires not just “making the sale”. This requires someone who as a vast background and is involved in the local community so that they understand what makes it tick.
I have a varied background that includes 13 years in the U.S. Air Force flying F-16s, marketing experience with Lockheed Martin and 9 years as an airline pilot with Delta Air Lines. This background helps shape my professional view and displays the drive and desire I possess, but what is desired in purchasing real estate is someone who knows the business. I currently work for the RE/MAX Canyons. We are a leading sales team in the Salt Lake Valley and have the knowledge and assets to assist in whatever real estate transaction you desire. In addition, I believe any professional must be involved in what they are selling. I am invested in multiple properties around the Salt Lake area as I believe in the real estate market here and want to be a part of it.
I also believe that those of us promoting the area need to be a part of it. I am involved in the local community in a number of ways including coaching youth sports, volunteering in support of the elderly and being a member of the school board at St John the Baptist Schools. This involvement helps me to be in touch with the community and assist those that are interested in moving to or investing in the local community.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
