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Prices continue to fall in Utah. Much of this has been due to downward pressure from forclosures and short sales. While these factors push other homes prices down, short sales have been difficult for many buyers to obtain. Many buyers are finding that short sales are not worth the trouble. Often times, agents are listing these properties extrememly low with the sole purpose of "hooking" interested parties. Once hooked, those parties are finding out that the banks never intended to sell at such low prices. More times than not, buyers are waiting months on end for the banks to even get a response.
The best deals on newer homes may lie with the builders who are in a position to lower their profit margins to move homes. BUilders may be bargained with. Gone are the days when a builder could afford to hold tight to its list price. Remember, everything can be negotiated. Make sure that you are using an agent who is familiar with the area and the builders - who can help you negotiate prices and upgrades.
It has been decades since we had a combination of both lowering prices and low interest rates. This means that if you are a legitimate investor, now is a great time to buy. The Wimmer Group can help you find just the right opportunity.
If you are selling, it may take longer to sell a home but if it is priced right- it will sell. Sellers just need to be realistic about prices, time on the market and other expectations.
I am seeing more and more sellers and buyers with legal issues. Some involve investment shemes, foreclosure, title defects, etc. Make sure that you use a broker who is failiar with the law. An inexperienced agent can cause you a legal nightmare. Of course, The Wimmer Group will always provide you with a free evaluation and consultation. |
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