Salt Lake Home Sales Highest in 7 years!

SALT LAKE HOME SALES IN 2013 ARE HIGHEST ON RECORD IN SEVEN YEARS

 according to the Salt Lake Board of Realtors®.

 More than 11,700 homes were sold during the year, a 6 percent increase over sales in 2012.

“Home sales in 2013 surpassed levels seen in 2007, the year prior to the start of the Great Recession,” said Angie Domichel Nelden, president of the Salt Lake Board of Realtors®. “We expect 2014 will also bring strong demand for housing as Utah’s strong economy produces more jobs and in-migration/population levels continue to surge.”

The median single-family home price in the fourth quarter in Salt Lake County climbed to $244,625, an 11 percent jump compared to a median price of $221,087 last year during the same quarter. The biggest percent increases in median prices in Salt Lake County included:

Holladay (84124) up 30 percent; 

Taylorsville/Kearns (84123), up 19 percent

North Salt Lake (84116) up 18 percent.

Sales of condominiums in Salt Lake County climbed to 645 in the fourth quarter, an increase of 15 percent compared to 559 sales in the fourth quarter of 2012. During the same period, the median condo price in Salt Lake County climbed to $168,000, up 15 percent compared to a median price of $145,500.

Our team would love to help you sell or purchase a new home this year! 

Give us a call! (801) 815-3355 or (801) 502-1241

Why use an agent when buying / building a NEW home?

We came across this fabulous article today and wanted to share it:

7 Benefits of Working with a Real Estate Agent when Building a Home

Some buyers prefer to simply deal with a builder instead of a real estate agent when they are having a home built as there is a common misconception that hiring a Realtor when building a home is unnecessary. It’s not legally required, however, having a qualified Realtor will actually make the process much easier. Here are six benefits of working with a real estate agent when building a home.

It’s Free

The cost of hiring a real estate agent is included in the purchase price of the newly constructed home. That means that the Realtor is essentially free for the buyer to use. It will not cost them a dime to hire one, making it a no risk proposition. If they do not hire a real estate agent, the extra money simply goes to the builder and in a lot of cases, there are specific real estate agents available to use at any build site.

Hiring a Realtor Will Lead to a Higher Quality Design

Many builders do not consult with a qualified architect when constructing a new floor plan for a home. A reputable Realtor will insist that an experienced architect be consulted before construction begins. The buyer will benefit from a higher quality floor plan and will likely also ensure that a private inspector is hired during the build process, to ensure that all mandatory, unbiased, inspections are completed.

The Buyer Needs Someone to Represent Their Interests

Builders do not represent the person or persons whose homes they are building. They only represent themselves, and their own interest, not the buyer’s. A Realtor is the only person who will represent the buyers themselves. They can help you do research on the area and prices so you can be sure to get a fair price as well as make good decisions on upgrades and other features that might be of interest for a specific area.

They Get Buyers A Better Contract

Realtors will carefully review the contract between the buyer and the builder. Without a real estate agent, the buyer may not receive a contract that is best for them. It is much easier to review the fine print with an experienced eye to help. Buyers will often sign a contract right away because they are so eager for work to begin. A reputable Realtor will work with the buyer to carefully consider every aspect of the contract first. You’ll want to know the different types of warranties your home has and what is protected.

They do the Research for You

If you don’t know much about real estate or are a first time home buyer, you’ll probably feel overwhelmed trying to get information about builders, locations and mortgages. A real estate agent is very familiar with the area and the programs available. For example, if you are in Oklahoma, your Realtor would help you fine different home loans in Oklahoma and information about other builders you might not have looked at yet, so that you can consider all of your options.

They Will Keep Detailed Documentation

Realtors will create and maintain detailed files about the builder’s work and actions, including information about the home and available upgrades. While buyers could do this on their own, hiring a Realtor will save them the time and trouble. The files that real estate agents keep will be crucial if there is any question about the builder’s performance.

They Conduct a Comprehensive Home Review

Realtors will accompany the buyer in a walk-through of their new home and will carefully scrutinize the building for anything that needs to be improved. Similar to contract negotiations, the Realtor may be able to spot things that the buyer would not have noticed until it was too late. Sometimes a buyer will find a building flaw months later and the builder will no longer cover the flaw because they sold the house “as-is”. These are all things to take note of in your contract and things that your real estate agent can help with.

Building a new home can be both an exciting and stressful time in a person’s life. Rather than spending your energy stressing over every little details from finances to home inspections, hand over some of the work to a Realtor. You won’t pay any money out of pocket and you might just find things are moving along much more smoothly than they would if you were doing it all yourself.

Article and insights provided by Kandace Heller.

New Daybreak Listing!

A shout out to our team leader, Tamara Zander, who sold more homes in Daybreak last year than any other real estate agent! We are so grateful for our clients and referrals. Thank you!!

Our newest listing in Daybreak: MLS # 1206200

For full photo tour, please click here

Oakmond Home Photo Tour

Get Inspired (at home) This Year!

Creating routines and cozy spaces 

come to mind.

 

We want to share a creative and practical blog with you. We will share our favorite postings each week this month. May it inspire and motivate you this month to get your new year started off right!

The Inspired Room 

Welcome to The Inspired Room! They share simple, doable ideas for loving the home you have. No big budget, complicated skills or fancy power tools required.

 

Click to read this article

We think you'll find some valuable & fun ideas on her blog.

Happy New Year!

~ Corey and Tamara