Here are a few articles I have found that really give some great info in regards to the current status of our State. Utah’s Real Estate market is heating up, Buisness are moving in. Development is picking back up.. Some postive things are happening in our wonderful state..
Planners hope to recreate ‘Life on State’ Deseret News
SALT LAKE CITY — Back in its heyday, before I-15 was built, State Street was one of Salt Lake County’s busiest roads.
Now, the road reaching from South Temple to 12300 South is second or third choice to stretches with more lanes, better scenery or fewer lights.
Ted Knowlton wants to change that
SOUTH JORDAN — Kennecott’s Daybreak community ranked sixth for 2009 home sales among leading U.S. planned communities, according to a Washington, D.C.-based real-estate firm.
February Marks Fifth Straight Month Of Increasing Home Sales UtahBusiness.com
St. George Provo-Orem growing fast
Population » Salt Lake County now has more than 1 million residents The Salt Lake Tribune
Did you know St. George and Provo-Orem are the nation’s second and third fastest-growing metro areas?
Only a Sunshine State city outshined Utah’s top gainers in population growth this decade.
Here is another deal of the day. This will go fast, so if you are a first time home buyer looking for a home in Sandy, UTAH take a look at this. All of these homes are going fast. We do not have time to wait on the sidelines while these come and go. This is a great opportunity for a first time home buyer looking to get into the upper East Bench of Sandy Utah for an affordable price. This does not come around very often so let me know if you are interested.
10244 S. Flanders Rd. 1666 E.
List Price $186,000
2 car garage
2082 Sq. Ft.
If you want more info drop me an email or give me a call and I will send it your way, no pictures available at this time..
So I found this article interesting. There are a lot of different opinions out there, but bottom line is right now it is a historically low time for Interest Rates. I think we will be hard pressed to see such low rates again for the next 10 years. Very soon in our near future all of us are going to be sayin an interest rate below 7 % is a deal.
Reality is they can not stay low forever. Now, the govt. does not know what to do, for they fear the reaction of what could happen if the raise rates right now. I think for the next couple months we are safe in regards to them going up for a little while. However it is inevitable, and therefore will be forced to increase.
Sellers are in a pinch right now, and are feeling the pain of the market. We just put a 13 unit apartment complex in Salt Lake City UTAH under contract. List price was $959,000. We got it under contract for $150,000 less than list price. Did I mention it is bringing in $90,000 of income a year? Now run the cap rate on that one. Investors are still hoarding their money, scared to invest it into the market. There are plenty of deals out there for people to buy up if they would just be realistic with their ROI.
Now, for the average consumer. Real Estate is a great opportunity right now. I hate to say it but I think pricing is stabalizing and I would even be willing to stick my neck out on the line and say that the affordable housing market is even going to rebound and increase a little here soon. We are seeing multiple offers on home in the $200 range. So yes your upper priced properties are still getting destroyed, but hey who can afford a $1 million home in Salt Lake City, UTAH. Not very many people compared to the census. So what do you buy if you are an average guy like me? Well for starters, if I am patient and willing to not let my emotions get the best of me. A good place to start would be with the REO inventory in UTAH. Foreclosures are a plenty, and we are seeing some not so average deals coming across our plates. So you need to get your hands on a list of Foreclosures.
You can get a great buy a home, you just need to know how to find those great buys? Bank foreclousres are some of those deals I am talking about. And Utah has its fair share of Bank Foreclosed REO properties. If you are looking for one, let us know and we will get you a list of bank owned home in utah.
One of the best long term invesment opportunities in the Real Estate market has always been Rental Properties. If you are looking for a Duplex, Tri-plex, 4-plex etc in Salt Lake City UTAH.. Check out these deals. We are seeing some good cap rates come back, especially with rents on the rise.
Let us know if you have any questions about these. Also the number one question we get on a daily basis is, do you have lists of bank owned homes..
Wow, interesting article I think. This just came up on the New York Times today. While I agree that short sales have been devasting home values in neighborhoods all across the country, I’m not sure if I agree with paying the homeowner to leave…
Let us know your thoughts. We’d love to hear them.
I find it funny that anyone who starts a real estate conversation with me these days, generalize the market and says, “boy the market is really bad huh….” IF I have time to explain to them the real intricacies of the market. Market is GREAT for buyers right now. Also investors. Take the attached spread sheet for example. This small time local contractor has made over 100% PROFIT on four little rose park remodels in the past 12 months! IN THIS MARKET! Our analysis will show you what he paid and what he sold for and before and after pics. Heck, he’s making better money than any of my clients did back when everyone thought the market was good. Just goes to show, often time doing the opposite of the crowd yields the best return.
This is why when people ask, “How is the Real Estate Market in Salt Lake City UTAH?” I respond by saying, there is money to be made, and great buys right now if you can see the potential. I get asked on a daily basis, “Spencer, can you find us a great deal?” Yes, I can find you a great deal, but everyone wants to buy a home on the uppper East bench of Salt Lake City UTAH for $100,000. Not going to happen. However, if you want to make money on a deal.. Take a look at what this investor has done, and I dare you to tell me the market is bad..
New Bank REO listings in Salt Lake City UTAH. We are seeing alot of them coming out the last couple of days.. So you need to act fast to get the best deals.
We all remember the agressive plans of a few developers to build the Sandy Proscenium Condo towers. The big anchor for the project was the controversial Broadway Theater. It would have put Sandy on the map. Now we all were a little skeptical on the Condo priceing, but we were excited about possibility of putting Sandy on the map..
The same architect that was designing the Proscenium project, has now taken on the new development named “The Meridian” he is trying to have the main anchor of the development and new 120,000 Sq. Ft. Living Planet Aquarium.. This would in theory do the same thing on a different scale. Give Sandy City, UTAH another attraction of national aclaim? Will they pull if off? Can Sandy City, UTAH compete with Downtown Salt Lake City. Especially with the New City Creek Center coming online in the next 12-18 months.
I will be waiting anxiously to see what they get approved, and more importantly. To see where the pricing come in at for the residential condos. Especially with the condo market being destroyed like it has. It will be interesting to see high end condos sell in the Downtown Sandy City ,UTAH area…..
Hey everyone, this is a deal. So act fast, if you are looking for a great Real Estate Deal in Salt Lake City UTAH. Here it is.. I keep posting these great buys, and people are passing up on them. Act now, or you will miss out on a deal with low Intrest Rates..
