Salt Lake City, UT Real Estate News

By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
                                  OR         I'm sure you've noticed that interest rates are creeping up.....again! They were the lowest they've been in years. Rates are still very good, but they may not stay that way for long! Another factor to consider is that  housing prices are near what they were in 2003 in our particular area! Do you know someone who is fence sitting....waiting for the perfect time to buy? Yeah, most of us do. You may want to make them aware of some very interesting numbers. Point out to them the difference in owning a $320,000 vs. a $240,000 home for the exact same payment amount! Do you think that might make them sit up and take notice? Loan Amount     Rate       Payment        Payment     Rate        Home Price $320,000.00 @ 5.25% = $1,766.00         $1,766.00...
Comments 2
By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
The number one component when trying to sell your home is having your home listed on the local MLS (Multiple Listing Service).  It is definitely in your best interest to have your house listing because your sale force is automatically multiplied by however many agents are members of the local MLS.  If your home is not listed, then you only have one agent working for you instead of many. Search Utah MLS Utah County Homes AMP Mortgage Xpress Orem Real Estate Provo Orem Homes Provo Real Estate Utah Realtor Utah Homes Utah Homes For Sale Provo Real Estate WS Orem Real Estate WS Utah Homes 4 Sale Alpine Real Estate American Fork Real Estate Cedar Hills Real Estate Highland Real Estate Lehi Real Estate Pleasant Grove Real Estate Utah County Home Values Utah County Realtor Utah County Realtors...
Comments 0
By Kandy Clayton
(Clayton & Associates Real Estate)
In today's tough economic times, any new business opening up is good news, and many new businesses coming to one area is "super" good news.  Therefore, I'd like to take a moment to mention how great business is in Salt Lake City, Utah.  Business is absolutely blooming and continuing to thrive in Salt Lake City. In addition to the new downtown restaurants that have opened up such as the Olive Bistro, Eva Mediterranean Tapas, J Wong's Asian Bistro and Bruges Waffles and Frites, other businesses have come to Salt Lake City and are doing well, too. The Bingham Cyclery opened its flagship store north of Pioneer Park at 336 West 300 South.  This is great news for those who have dedicated themselves to helping the city "go green."  Biking is a great and easy way to travel around town, and it's...
Comments 0
By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
Salt Lake Mortgage Rates Increase, House Payments Up! Mortgage rates soared again Monday, tacking on a half-percent to Salt Lake House payments in one day for the second time in under a week. That would mean an increase of $62 on a $200,000 West Jordan home loan's monthly payment, or $744 per year. For Salt Lake homes buyers recently under contract, it's a gut-wrenching time to be shopping for a home loan.  Morning mortgage rates have been typically gone by early-afternoon and -- in some cases -- lenders have changed rates five times in one-day span. The reasons for surge in rates are varied, but each is related to the idea that the economic recession may be nearing its end. Consumer optimism is as high as it's been all year Consumer spending is falling at a slower pace than in months p...
Comments 0
By Mark Watterson, Utah Real Estate
We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.    SUMMARY Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperien...
Comments 0
We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.    SUMMARY Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperien...
Comments 2
By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
                                                                      CYCLE  STYLE  SHOW     FRIDAY   MAY  15,  2009   GALLIVAN   CENTER In keeping with the current trend to go "green", May is National Bike Month.  In conjunction with the national event, it is also Utah Bike Month. This year the Salt Lake Bike Bonanza will debut a stylish new  attraction as part of the festivities - the Cycle Style Show! The Salt Lake City show has been patterned after European Cycle Style shows. The show will feature bicycles of all types for the 2009 season including road bikes, mountain bikes, commute to work bikes and path bikes.  There will also be a variety of specialty bikes on display.  A touch of Amsterdam will be added to the line up with some Dutch style bikes that allow the rider to look chi...
Comments 2
By Benjamin Clark, Buyer's Agent - Certified Negotiation Expert
(Homebuyer Representation, Inc.)
I recently transferred to Salt Lake City from California.  Having owned a few homes, and also having dealt with various agents in the past, I did not relish the stress and hassles involved in the home buying process.  I investigated my options, and wanted an agent that would be a good fit for me. I wanted an agent who was willing to work only for me.  Little did I know that I was about to embark on one of the most rewarding and remarkable adventures of my life. Benjamin Clark is the best!  He made the buying process an absolute pleasure.  He was with me every step of the way and made sure that it was as smooth and hassle-free as possible.  He was always available and prepared to take me to as many locations as possible, giving me a great overview for location and price.  When I found my...
Comments 3
By Alan Barker
(Boomerang Leads)
The capital city sold over 200 less homes, declining 31.6%.  Salt Lake homes sold also saw a fall in price.  Average sold price decreased 10.74% and median sold price decreased 9.29%.  There are 2,396 homes in Salt Lake City listed and inventory is up to 14 months.  Homes are priced almost 30% higher on average.  
Comments 0
By Benjamin Clark, Buyer's Agent - Certified Negotiation Expert
(Homebuyer Representation, Inc.)
Earnest Money is applied as a credit to you at Settlement. The settlement sheet is basically a balance sheet. The money you owe is on the top of your side (purchase price, closing costs, your portion of property taxes, etc.) All the money paid on your behalf (loan proceeds, earnest money, the seller's portion of property taxes, etc.) is on the bottom of your side and is a credit to you. The difference between what you owe and what you have paid (including the Earnest Money) is what you have to bring in to closing (or what is refunded to you if you have brought in too much). In other words, the earnest money is credited on your behalf, but not directly for any specific cost.Whatever your total cost to close would have been with no Earnest Money, it will be reduced by the amount of the Ea...
Comments 0
By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
Are you looking for fun yet educational family activities in the Salt Lake City area? Search no more! Here are two of Salt Lake City's unique family friendly attractions! DISCOVERY GATEWAY CHILDREN'S MUSEUM Completed in Fall 2006. the new Utah Children's Museum facility boasts a wealth of entertaining yet educational exhitits in the convenient shopping area of The Gateway in downtown Salt Lake City.  Permanent fixtures include the hands-on Media Center where kids can interact with technology, and The Studio, which combines art, science and engineering exhibits to help kids understand and interact with the world around them. All exhibits are hands on and interactive. Open seven days a week.  444 W. 100 So. SLC, UT   www.discoverygateway.org 801-456-5437 Clark Planetarium  While its IMAX ...
Comments 8
By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
"Utah's economy is following a path that can return the state to it's prior level of prosperity." This encouraging comment was made by Kelly Matthews, Wells Fargo economist, to a sold out crowd at the Governor's third annual Utah Economic Summit. Matthews stated that while challenges still remain, he believes the recession, now in it's 17th month, is bottoming out and Utah's economy is poised for a strong recovery. There were a number of representatives from the business, education and government sectors present at the summit. They said that although they may not share the same level of optimism, they agree the state is better positioned than most to recover. The nonpartisan American Legislative Exchange Council recently graded Utah's economy the most competitive in the nation.    Amon...
Comments 2
By Tamie Ogden
(Paisley Home Staging)
My home is now on the market. It has taken my husband and me weeks to get it ready.  My family has been working every extra hour we have, to repair things a potential buyer and their home inspector might frown upon.  Home inspectors are a useful tool when buying and selling a home.   They are the individuals who find hidden problem with a home.  I would never purchase a home without a home inspection, in fact our inspection on our new home is today at 10:00 am.  A good stager should be able to tell you some if not all of the issues that a home inspector might find.  Then these issues can be repaired before an inspector finds them. I am very fortunate to have a family member and a close friend that are inspector.  I have called upon them with numerous questions for my clients.  They seem...
Comments 0
By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
Utah's Governor, John Huntsman, signed a bill last week allowing creation of a $6000 grant program for homebuyers purchasing a newly constructed home. There are 1,600 grants available. Salt Lake Board of Realtors President Ryan Kirkham stated that getting rid of inventory will help home builders and the construction industry get back to work. The Salt Lake Board feels this new local incentive combined with the Federal $8000 incentive will make a big difference in Utah's housing market. In fact, the SLBR says that the combination of these new incentives could pull Utah out of the recession. "People are kind of excited about this, and there is a little bit of a buzz, and I actually think we might see things really pick up here because it's just a time where if you are thinking about buyin...
Comments 1
By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
  Is it possible that new home starts and new mortgage applications were up in February? The following is economic update info courtesy of one of my fave loan guys. The Commerce Department reported that housing starts unexpectedly jumped 22.2% in February to a seasonally adjusted annual rate of 583,000 units. This ended the longest streak of declines in 18 years. Economists had anticipated a 3.4% decline to 450,000 units. Leading the surge was an 82% increase in the building of multifamily homes - condominiums, apartments and townhouses - to 226,000 units in February from 124,000 in January. Housing starts for single-family homes rose 1.1% to 357,000 units. Building permits for single-family homes climbed 11% in February to 373,000, compared to 336,000 in January. The Mortgage Bankers A...
Comments 6
By Kandy Clayton
(Clayton & Associates Real Estate)
Salt Lake City and surrounding communities have a great new program called the Salt Lake County Green Business.  This program is part of the Division of Environmental Health's Bureau of Water Quality and Hazardous Waste, which was created in partnership with the Salt Lake County Mayor's Office.  Their goal is to encourage all area businesses to improve their environmental practices in four specific areas, including pollution prevention, energy efficiency, water conservation, sustainability and waste management.  As a Salt Lake City area resident, I like the idea of area businesses going green. Businesses participating in the program will be rewarded with public recognition.  They will have use of the Salt Lake County Green logo and will save significant amounts of money on their waste d...
Comments 0
By Benjamin Clark, Buyer's Agent - Certified Negotiation Expert
(Homebuyer Representation, Inc.)
Great Article in the New York Times Friday, featuring a good friend and colleague of mine, Ira Freireich of Long Island, NY. The article points out how many homebuyers are becoming more savvy and aware of how they can get the best level of representation in the real estate transaction: Exclusive Buyer Agency. Some key points: Exclusive Buyer Agents (EBAs) negotiate for the Buyer EBAs work for the Buyer only - Not the Seller like traditional real estate agents EBAs keep confidential information confidential - The seller won't know that you can or will pay more EBAs give you more control - They have no specific properties to push on you   If you are Buying a home in Salt Lake City or the Surrounding Area, make sure you get an Agent on YOUR side of the transaction!   If you have excellent ...
Comments 3
By Suzanne Gallegos, Realtor - Salt Lake City, Utah Homes
(Equity Real Estate - Advantage)
  THE HAPPIEST PLACE ON EARTH!  I know, I know, you thought the happiest place on earth was Disneyland. Turns out that's not the case. Utah has stolen that coveted title away from Mickey and Minnie! Who knew it could be done?           The Gallup organization and Healthways, a disease management firm, released results of a poll earlier this week which reveals their rankings, by state, of who indeed has the happiest residents.  Utah came out on top! Residents of the Beehive State claim the highest satisfaction in such areas as work environment, local communities, and emotional health. Other areas that were measured included life satisfaction, work quality, healthy behavior, physical health, emotional health and basic access to necessities like food and shelter. The poll was conducted ove...
Comments 9
Explore Salt Lake City, UT