Posts

Showing posts from March, 2010

The Real Estate Report Card for March 29, 2010

Let's take a look again at our 30 day market snap shot. We're looking at the real estate statistics for homes for sale in the greater Salt Lake City Utah area and all of Salt Lake County.
Total # Actives 7656 Sold last 30 days 665 Sold 365 Days 11275 Listed last 30 days 1971 Total Pending Sales 1816 Pending last 30 days 1144 Expired last 30 days 824 Expired listings 365 Days 12536 Months Supply of Homes 11.5
Let's look at our Short Sales...
Total # Actives 1656 Sold last 30 days 74 Sold 365 days 1253 Listed last 30 days 262 Total Pending Sales 267 Pending last 30 days 156 Expired last 30 days 159 Expired listings 365 Days 2032 Months Supply of Homes 22.3
21.6 % of our active listings are Short Sales... 13.2 % of the homes listed in the last 30 days are Short Sales... 14.7 % of the homes pending are Short sales... 19.2 % of pending homes in the last 30 days are Short Sales... 11.1 % of the total homes sold in the last 30 days were short sales... Feel free to call me if you have questions about…

The Real Estate Report Card for March 8, 2010

Lets take a look at our 30 day snapshot of our Salt Lake County Real Estate Market!
Here are the numbers looking back from 3/8/2010.

ALL SALT LAKE CITY AREA LISTINGS
Total # Actives 7383
Sold last 30 days 572
Sold 365 Days 11139
Listed last 30 days 1876
Total Pending Sales 1572
Pending last 30 days 958
Expired last 30 days 864
Expired listings 365 Days 12806
Months Supply of Homes 12.9

SHORT SALES

Total # Actives 1645
Sold last 30 days 73
Sold 365 days 1249
Listed last 30 days 244
Total Pending Sales 225
Pending last 30 days 115
Expired last 30 days 156
Expired listings 365 Days 2020
Months Supply of Homes 22.5

22.2 % of our active listings are Short Sales...
13.0 % of the homes listed in the last 30 days are Short Sales...
14.3 % of the homes pending are Short sales...
18.0 % of pending homes in the last 30 days are Short Sales...
12.7 % of the total homes sold in the last 30 days were short sales...

Feel free to call me if you have questions about these numbers and what they mean!
I’m…

"Home" shows on TV

There are a myriad of "home" shows on TV but there is one that stands out to me above all of them and that is Holmes on Homes. Mike always comes in to save the day and rescues the home owner from a shoddy job done by a sub-standard or fly-by-night contractor. Mikes' website is located at http://makeitright.ca/ and he is featured on HGTV, http://www.hgtv.com/holmes-on-homes/show/index.html. The thing I like about this show is that he really points out the bad things that can happen in a remodel or even a new home. He shows you why something is bad and how to correct it and you will never see a shortcut or hear a "that's good enuff" or a "looks OK from my house" comment.  Holmes on Homes really shows you the wonderful things that can be done when you have skilled, knowledgeable trade people. Most of these things are things that become invisible after the job is completed but make huge differences in the way a home performs over its lifeti…

Updated 02.05.10, The Decline: The Geography of a Recession by LaToya Egwuekwe (OFFICIAL)

The evolution of unemployment. Our unemployment has a direct correlation to every real estate market. Putting people back to work and getting short sales off the market would solve a great deal of our recovery problems, both daunting tasks no matter what your political persuasion is.

The Real Estate Report Card for March 1, 2010

Image
Lets take a look at our 30 day snapshot of our Salt Lake County Real Estate Market!
Here are the numbers looking back from 3/1/2010.

All listings for Salt Lake County
Total # Actives 7237
Sold last 30 days 475
Sold 365 Days 11060
Listed last 30 days 1865
Total Pending Sales 1566
Pending last 30 days 944
Expired last 30 days 920
Expired listings 365 Days 12916
Months Supply of Homes 15.2
Short Sale listings for Salt Lake County
Total # Actives 1632
Sold last 30 days 65
Sold 365 days 1247
Listed last 30 days 249
Total Pending Sales 217
Pending last 30 days 104
Expired last 30 days 171
Expired listings 365 Days 2022
Months Supply of Homes 25.1

22.5 % of our active listings are Short Sales...

13.3 % of the homes listed in the last 30 days are Short Sales...

13.8 % of the homes pending are Short sales...

18.5 % of pending homes in the last 30 days are Short Sales...

13.6 % of the total homes sold in the last 30 days were short sales...

Feel free to call me if you have questions about these numbers …

Buying a home - Much is the same and much is different!

Buying a home - Much is the same and much is different! Buying a home - Much is the same and much is different! - What do I mean by that?

As REALTORS, we are bound by a national unifying code of ethics, and as REALTORS we are obligated, rather, required to belong to our National Association of REALTORS as well as our state and local associations. We are also required to complete specific education requirements and have very specific state laws that we have to abide by that are real estate specific.

Given all that, it is still how amazing how different the "experience" can be for buyers (and sellers).

Here in Utah, the seller is required to fill out a six page "sellers property disclosure" where they disclose pertinent facts about the property they are selling. If the seller has not occupied the property, they disclose that and use a "non-occupant" addendum to release them from liability.

We typically write an offer to purchase here and …

Earnest Money! How much? Why?

Earnest Money! How much? Why?

It's surprising to hear all the different answers regarding earnest money, especially the answers that I hear have been given from other REALTORS and agents. So, lets ask the probverbial question....How much earnest money is required to buy a house?

Well, are you ready? Hold on to your checkbook because the answer is....Zero! Zip, Zilch, Nothing, Nada! There is now law or nothing in the real estate purchase contract that stipulates earnest money is required (at least in Utah).

So what is earnest money? Earnest money is your 'skin in the game'. It is a measurement of your intent, level of committment, sincerity, or desire to purchase the property. It is also what you could potentially lose if you fail to perform or default in the contract.
A higher amount of earnest money demonstrates a higher level of intent because of what you could potentially lose.

Can you buy a house or propertry without earnest money? Maybe. If the seller has g…