Real Estate Blog | South Jordan UT | Herriman UT | Buying a House, Selling a House, Real Estate Market, Homes for Sale, Home Listings

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Michael Wilson
Realtor
    Years of Experience: 12

Direct: (801) 750-1852

Office: (801) 270-9110



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7985 South 700 East
Sandy, UT
(801) 270-9110


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Posts Tagged ‘Real Estate in South Jordan’

First Time Home Buyers you may have gotten an extension

Friday, October 30th, 2009

Here is an article that was forwared to me that best describes the new proposal and some recent housing sales statistics. This is Good news and will hopefully also help the existing homeowner that is looking to either up or down size.

http://rismedia.com/2009-10-29/breaking-news-senate-plans-to-extend-and-expand-tax-credit/

Selling a Home in South Jordan

Tuesday, September 29th, 2009

I was reviewing sales statistics today in the South Jordan area and found some interesting results. Sellers Beware the statistics I reviewed from the Wasatch Front MLS for the 84095 zip code area showed a serious decline is average selling price down to $270,796 from $327,523. Now the good news average home size also took a serious drop, down to 3058 sq ft from 3637 sq ft. Taking the above items into consideration selling average price per sq ft for September is $89 as compared to $90 for August. What does all this say buyers are turning to the smaller more affordable homes in South Jordan. Just beware we all know what will be written and published in the papers Home Prices drop in South Jordan rather than Average Size of Home Sales in South Jordan drop.

South Jordan First Time Home Buyers Time to Get Things Done

Thursday, September 17th, 2009

With the deadline of November 30th fast approaching for the First Time Home Buyer Credit we are now at that point in time if you plan on buying and taking advantage of the First Time Home Buyer Credit you will need to get your agent picked, get pre-approved for your loan ,then most important of all find you home and get it under contract within the next couple of weeks to guarantee that closing will happen prior to November 30th. Remember most likely it will take longer to get a loan closed the closer to the deadline you get due to the rush of others trying to do the same.

Get in touch of me with any questions or assistance you may need to find your home in South Jordan.

ARE YOU READY TO BUY YOUR HOME IN SOUTH JORDAN OR HERRIMAN

Wednesday, September 2nd, 2009

It seems I am getting good at turning actual events into entries here but while in my office yesterday I was talking with a new agent that was struggling with some of his buyers in South Jordan and Herriman. We sat down went over the steps they had been through then evaluated what he could do better and alot of it came down to educating the buyer on what to look for and how to evaluate the homes they do look at. During this I found the following list that I hope can help you as a buyer in South Jordan and Herriman.

1. Find a REALTOR® who you can relate to. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you choose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.

4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself – room size, kitchen – that you forget such issues as amenities, noise level, etc., which have a big impact on what it’s like to live in your new home.

7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes haveappreciated an average of more than 6 percent annually over the past three decades, a home’s most important role is as a comfortable, safe place to live.

I hope this helps you in your search for a home in South Jordan and Herriman. Also please remember just because I list South Jordan and Herriman as areas that I specialize in it doesn’t mean I cannot help you in any area in the southwest valley and in Midvale.

Is This the Time to Buy in South Jordan

Friday, August 14th, 2009

I was just reviewing the sales and listing statistics in the South Jordan area and found a couple of items that surprised me. The first that didn’t and that we are aware of is the average selling prices of homes have dropped 16.32% as compared to the same period last year. The two items that did surprise me is the number of listings as compared to the same period is way down 32.58% meaning less homes available I would have expected this to be lower but not down that far. The second one that caught my eye was the number of sales again for the same period is up  12.92% with the largest part of that gain coming in the last couple of months.

With all that said and being the optimist that I am it is telling me it is time!! With fewer homes available and sales increasing I feel values are bottoming out. Add to that mortgage rates are still in the low 5% range, and the potential reclassification of this the South Jordan area to a declining value area that I discussed in an earlier post meaning more money needed for your down payment (meaning on the average home in South Jordan of approximately $16,500 in down payment money). What you think you will gain by waiting longer to see if values do drop more, most likely will be lost and eaten up in potentially higher interest rates and more down payment required.

My true feeling right now is two years from now we are going to be sitting around saying damn I should have bought in South Jordan back in 2009 when the prices and rates were low.

Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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