Why would you make one of the most important financial decisions of your life without hiring a Real Estate Professional? Northern Wasatch Association of REALTORS® To provide a cohesive, professional and fiscally responsible Association for the benefit of its REALTOR® members. As the demand for an item increases the supply of that same item goes down, driving prices up.Year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market.The median price of homes sold in November (the latest data available) was $234,900, up 6.8% from last year and marking the 57Buyer demand continues to outpace the supply of homes for sale. Instead, he called a REALTOR who sold it for $86,000 more.Cara and her husband tried to sell on their own, but found it incredibly stressful. You will miss the great opportunity you have right now!Historically, a 6-month supply is necessary for a ‘normal’ market, explained below:There are more buyers that are ready, willing, and able to buy now than there have been in years! Ryan Kirkham is a Utah realtor and on a committee at the National Association of Realtors. This is an impressive increase, showing that November was an excellent month for home sales in this price range. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but rather have been strengthened, due to the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. The National Association of REALTORS® has featured Salt Lake City as one of the top 10 markets in the country for having favorable conditions for millennial homebuyers during the coronavirus pandemic. They want to buy now. An experienced REALTORFacing foreclosure, he was about to sell his home for $100,000.
You need someone who is going to tell you the truth, not just what they think you want to hear.You wouldn’t replace the engine in your car without a trusted mechanic. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.So maybe you’re not convinced that you need an agent to sell your home. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit down with your agent to see if it is priced appropriately to compete in today’s market.We are all familiar with the concept of supply and demand.
Making your home available over the next few weeks will give you the most exposure to buyers who will be competing against each other to buy it.The price of any item (including residential real estate) is determined by ‘supply and demand’. Since founding in 1921, the Utah Central Association of REALTORS® has been the local echo of the state and national goal to providing the The Voice for Real Estate. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?Hiring an agent who has their finger on the pulse of the market will make your buying or selling experience an educated one. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are Get the most out of your transaction by hiring a professional.There is so much information out there on the news and the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? NAR releases national and regional existing-home sales price and volume statistics on or about the 25th of each month. The supply of homes for sale is not keeping up with the demand of these buyers.Home prices are appreciating in this seller’s market. Each report includes data for 12 months and annual totals going back three years. The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.
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