Snow Not Melting but Utah Sales Sizzlin!
It feels like I'm shoveling snow almost every morning. My 11 year-old son, Tyler, has started digging giant snow caves around our yard. Most mornings start with a slight blizzard or snow storm these days. One would assume that the Utah Real Estate market is dead.
The market is actually more alive than ever. My partner, Avril, said the other day, "Have we ever had a January this good?!" I loved January; it was very good for real estate. Our team--Team Teasdale--put eleven homes under contract in January. In fact, seven of those homes were from our very own listing inventory. Buyers are putting in offers right now because they believe the market has finally reached the bottom. Interest rates are at staggering low rates--around 5.5%. It has been about four years since I have seen rates so low. This is helping stimulate the real estate market.
In spite of the overall downfall of the national economy, the Utah economy is relatively strong at the moment. I was speaking to the bishop in my neighborhood, who told me that about 30% of people in our Mapleton ward work in the sub-contracting, building, title, lending, real estate sector of the Utah County economy. Many of the people in these types jobs are struggling right now. The bishop was very concerned about this pressing issue and asked for my opinion about when the Real Estate market will recover. I told him the market is already showing signs of a recovery.
I carefully watch my web traffic. The traffic on the internet gives me another means of monitoring the buyers in the market. My traffic in January doubled my traffic from November and December. I think this is because we are getting people back to the market.
Like the little train chugging up the mountain, I hope this promising momentum carries into the Spring. This recovery will be good for everyone. If you are looking to buy a home, remember to join our Early Bird Buyer's Club. Even if you are just curious about the value of your home, we can help you.
Feel free to comment on the market below. Tell me what you think.
The market is actually more alive than ever. My partner, Avril, said the other day, "Have we ever had a January this good?!" I loved January; it was very good for real estate. Our team--Team Teasdale--put eleven homes under contract in January. In fact, seven of those homes were from our very own listing inventory. Buyers are putting in offers right now because they believe the market has finally reached the bottom. Interest rates are at staggering low rates--around 5.5%. It has been about four years since I have seen rates so low. This is helping stimulate the real estate market.
In spite of the overall downfall of the national economy, the Utah economy is relatively strong at the moment. I was speaking to the bishop in my neighborhood, who told me that about 30% of people in our Mapleton ward work in the sub-contracting, building, title, lending, real estate sector of the Utah County economy. Many of the people in these types jobs are struggling right now. The bishop was very concerned about this pressing issue and asked for my opinion about when the Real Estate market will recover. I told him the market is already showing signs of a recovery.
I carefully watch my web traffic. The traffic on the internet gives me another means of monitoring the buyers in the market. My traffic in January doubled my traffic from November and December. I think this is because we are getting people back to the market.
Like the little train chugging up the mountain, I hope this promising momentum carries into the Spring. This recovery will be good for everyone. If you are looking to buy a home, remember to join our Early Bird Buyer's Club. Even if you are just curious about the value of your home, we can help you.
Feel free to comment on the market below. Tell me what you think.
Just a comment, I just wanted to disagree with you on your comment that UT is recovering. UT lags behind other markets, when AZ peaked, UT did not peak during until after about 6-12 months afterwards. There is a trend, and UT is just lagging a bit, Many ARMs are not scheduled to ajdust until late this year, if for those who bought in 2006. As for your comments about your web traffic, I merely go onto a few different sites to see what the prices are like and somewhat track the homes to see the decline in prices, not necessarily interested in buying, just a curious ex-real estate agent on home prices and inventories.
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Reply to this
This blog Is very informative , I am really pleased to post my comment on this blog . It helped me with ocean of knowledge so I really belive you will do much better in the future . Good job web master .
Reply to this