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 The air has a fall crispness and the leaves are nearly all fallen now as we prepare for a beautiful Utah Winter.  I always look forward to the next season whatever it is.  For Winter it's an opportunity for new family activities of skiing, tubing, making snowmen, Holidays and New Year's Resolutions.  

    

    We are also having changing seasons in the Government and the Economic weather forecast daily.  So how do you prepare for changing seasons?  I keep myself in tune with as many media perspectives as I can get my hands on, and then I rely on the numbers to interpret through the hype of the news reporters.  I hope this letter serves as a helpful tool in knowing really what's happening in the changing seasons of Utah's Real Estate Market.

 

   Utah County has experienced a growth in sales volume every month till August.  In September total closed transactions fell from 477 in August to 465 in September.  We have a total inventory of homes at 4,772 active on the market today with 613 currently Under Contract.  This is down roughly 10% from what was active a year ago (this is a good thing when you look at how supply effects demand and prices) This means for homes priced correctly we have roughly a 6-8 month supply of inventory in most price ranges.  

    

Tips for Home Buyers!:   In todays market especially you need a professional that can research the trends in your specific area of interest and price range to establish true market value based on the direction of the trend.  That takes experience in both the market and also in negotiations.  Many sellers still do not realize that the true value of their home is what a willing and able buyer is willing to pay, not what their neighbors home sold for two years ago.   I have a great buyers section on my website and more on Utah Housing Facts to help you on my website.  Lastly, Banks will want to get bad debt off their books by the end of the year so they can report good earnings reports for 2009.  That means Short-Sales should be easier to negotiate if you have an experienced agent working on your behalf.  

 

Tips for Home Sellers!:  Year to date I have successfully closed on 32 real estate transactions of over $6.5M in value.  My listings have an average gross sale of 103% of list price (there was a short sale that sold for $50k over list price so the numbers without this listing are 101%) Simply put when I list your home I shoot to sell it for the correct market price and bring added value to help you put more $$$ in your pocket.

 

If you would like more information regarding the real estate market in your area, or if you have any family or friends needing real estate assistance I'm never too busy to help a referral.  Have a great weekend!  And don't forget to enjoy the changing seasons!

 

Regards,