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Andrea Cahoon
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    CRS - Certified Residential Specialist
    TCRES - Tooele County Real Estate Specialist

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Office: (435) 882-8868

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REMAX Platinum
1185 N Main St
Tooele, UT 84074
(435) 882-8868

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December 2011 Real Estate Market Summary For Salt Lake and Tooele Counties

Tuesday, January 10th, 2012

Hello and Happy New Year!

I hope your holidays were wonderful and memorable.  The housing trend appears to be continuing in Tooele and Salt Lake counties with more homes sold in December of 2011 than in December of 2010.

If you or someone you know is having a hard time making their mortgage payments, make sure you check out my website for people who need help deciding what options they have to avoid their home being foreclosed on.  Feel free to share it with anyone you know who it may help.  It can be found at www.UtahHomeownerHelp.com . Here is December’s report:

Tooele County

December 1-31, 2011
Number of Homes Sold:  51
Average Sales Price:  $148,276.39
Average Price Per Square Foot: $58.93
Average Days on Market:  168
Tooele County
December 1-31, 2010
Number of Homes Sold:  44
Average Sales Price:  $173,000.23
Average Price Per Square Foot:  $70.06
Average Days on Market:  92
The Tooele County Absorption Rate report shows we have approximately 5 months of inventory when you include sold and under contract listings together in the equation.  If the under contract listings are included with the active listings, the absorption rate increases to about 9 months of inventory.
Salt Lake County
December 1-31, 2011
Number of Homes Sold:  863
Average Sales Price:  $220.805.17
Average Price Per Square Foot:  $87.42
Average Days on Market:  129
Salt Lake County
December 1-31, 2010
Number of Homes Sold: 832
Average Sales Price:  $230,530.97
Average Price Per Square Foot:  $94.97
Average Days on Market:  135
The absorption rate for Salt Lake County is approximately approximately 4 months of inventory when you include sold and under contract listings together in the equation.  If the under contract listings are included with the active listings, the absorption rate increases to about 7 months of inventory.
Don’t keep me a secret!  If you or any one you know is looking to buy or sell real estate, have them give me a call!  If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net.
Andrea Cahoon, CDPE, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167
P.S.  You can view this market summary report, and others from past months at my blog located at http://inside-real-estate.com/andreacahoon/.

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Tuesday, December 13th, 2011
Merry Christmas to You All!                           
Here is November’s real estate market summary for Tooele and Salt Lake counties.  I see some improvement in the numbers compared to last month for Tooele county.  If you would like to compare month to month, all of the market summary reports I have created can be found at http://inside-real-estate.com/andreacahoon/.

Tooele County

November 1-30, 2011
Number of Homes Sold:  60
Average Sales Price:  $150,915.98
Average Price Per Square Foot: $64.35
Average Days on Market:  130
Tooele County
November 1-30, 2010
Number of Homes Sold:  52
Average Sales Price:  $176,912.50
Average Price Per Square Foot:  $69.53
Average Days on Market:  121
The Tooele County Absorption Rate report shows we have approximately 4 1/2 months of inventory when you include sold and under contract listings together in the equation.  If the under contract listings are included with the active listings, the absorption rate increases to about 9 months of inventory.
Salt Lake County
November 1-30, 2011
Number of Homes Sold:  847
Average Sales Price:  $216,711.24
Average Price Per Square Foot:  $87.89
Average Days on Market:  121
Salt Lake County
November 1-30, 2010
Number of Homes Sold: 751
Average Sales Price:  $242,446.47
Average Price Per Square Foot:  $95.37
Average Days on Market:  136
The absorption rate for Salt Lake County is approximately approximately 3 1/2 months of inventory when you include sold and under contract listings together in the equation.  If the under contract listings are included with the active listings, the absorption rate increases to about 7 months of inventory.
If you or any one you know is looking to buy or sell real estate, have them give me a call!  Also, as a Certified Distressed Property Expert (CDPE) I have specific training to help homeowners in distress work out solutions that will work for them.  Please pass my name along if someone you know is having a hard time keeping up on their mortgage payments.  If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net.
Andrea Cahoon, CDPE, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167

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July Real Estate Market Summaries for Tooele and Salt Lake Counties

Monday, August 9th, 2010

Happy August!
 
As I prepared the latest real estate market summaries to send out to you, I couldn’t help but think that since the federal tax credits have ended the market is now trying to make a real recovery, which is going to take a bit of time.  The real estate market has been sustained by these tax credits over the past couple of years so it hasn’t had to make its own recovery.  Now it is doing so, so the market is taking longer to stabilize than those in the industry had hoped.  
 
I hope that the industry will stabilize quickly and turn around so that homeowners everywhere can maintain the equity in their homes.  However, the declining prices makes good news for buyers as home prices continue to decrease, becoming more affordable, and the mortgage interest rates have been at historic lows.  I have heard of people locking interest rates at 4.25% for a 30 year fixed loan in the last little while. 
 
Only time will tell how long the market recovery will take.  Here are the July market summaries:
 
Tooele County
July 1-31, 2010
 
Number of Homes Sold:  49
Average Sales Price:  $184,801.43
Average Price Per Square Foot: $75.67
Average Days on Market:  142
 
 
Tooele County
July 1-31, 2009
 
Number of Homes Sold:  65
Average Sales Price:  $171,378.26
Average Price Per Square Foot:  $75.23
Average Days on Market:  118
 
 
 
Salt Lake County
July 1-31, 2010
 
Number of Homes Sold:  672
Average Sales Price:  $262,291.96
Average Price Per Square Foot:  $99.51
Average Days on Market:  115
 
 
 
Salt Lake County
July 1-31, 2009
 
Number of Homes Sold:  1112
Average Sales Price:  $257,535.25
Average Price Per Square Foot:  $101.55
Average Days on Market:  125
 
If any of you have any questions about this report or any other real estate issues, give me a call!  I would be happy to help!  Let me know if a move is in your future or any of your friends and family’s future and I would love to help get you on your way!  Enjoy the last days of summer before school starts and the days get shorter and cooler!
 
Andrea Cahoon, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167

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March Tooele and Salt Lake County Market Summaries

Monday, April 5th, 2010

Happy Spring!

March certainly went out like a lion instead of a lamb both weather wise and with the market. The number of homes sold was up significantly, but the average sales price was down substantially. This is most likely due to the distressed properties on the market that are being purchased at much lower prices than market value. When the inventory stabilizes, the prices should turn around. The interest rates continue to be VERY LOW and any one who wants to take advantage of the $8000 first time home buyers tax credit or the $6500 home buyer move up credit must have their homes under contract by April 30, 2010, and closed by June 30, 2010. Let me know if these are something you are someone you know are interested in. Here is March’s market summary:

Tooele County March 1-31, 2010

Number of Homes Sold: 59

Average Sales Price: $149,930

Average Price Per Square Foot: $72.91

Average Days on Market: 117

Tooele County March 1-31, 2009

Number of Homes Sold: 42

Average Sales Price: $186,013

Average Price Per Square Foot: $76.91

Average Days on Market: 117

Salt Lake County March 1-31, 2010

Number of Homes Sold: 2217

Average Sales Price: $234,022

Average Price Per Square Foot: $96.15

Average Days on Market: 136

Salt Lake County March 1-31, 2009

Number of Homes Sold: 1832

Average Sales Price: $237,505

Average Price Per Square Foot: $92.59

Average Days on Market: 137

Let me know if any of you have any questions about this information, or if you have any real estates needs that I can assist you with! If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net. THANK YOU!

Andrea Cahoon, CRS, TCRES

RE/MAX Platinum

435-850-8167

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Tooele Tax Appeal Deadline SEPTEMBER 15, 2009

Monday, September 14th, 2009

Another reminder to all of you that the Property Tax Appeal deadline for Tooele County is September 15, 2009, at 6:00 pm.  Your tax appeal must be in by that time our they will not consider a reduction for this year.  You may click here for the tax appeal form and instructions.  You will need to fill in the form and then provide 3 comparable homes that were sold during the year 2008.

As I have spoken with many of you in the past month, if we were not able to bring your property value down this year, we should be able to when we can use the 2009 comparables.  Call me when you receive your notice next August and I would love to help you out.   If you have any questions, please let me know!

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