Windermere News
4 reasons why Buying or selling isn’t a matter of if, but when? Note: It’s important that we give credit to a valuable resource who has provided us with our information. KeepingCurrentMatters.com (*KCM)
Many now realize that it is a great time to buy a home. This
month we want to look at why it might also be an opportune time to sell your house. Here are the Top 4 reasons we believe now may be a perfect time to put your house on the market.
1
Fall, 2013
Update Salt Lake County real Estate September Statistics (9.1.13 - 9.30.13) 4,566 Active Listings Average Listing Price $283,503 Average Sold Price $237,997 Average Days On Market: 84
Demand is high:
The most recent Existing Home Sales Report by the National Association of Realtors (NAR) showed a 17.2 percent increase in sales over July 2012; sales have remained above year-ago levels for 25 months. There are buyers out there right now and they are serious about purchasing. Continued on following page
Additional Statistics for the 3rd Quarter inside
2
Supply is beginning to increase
3
Interest rates are rising
Total housing inventory in August rose 5.6% to 2.28 million homes for sale. This represents a 5.1-month supply at the current sales pace, compared with 4.3 months in January. Many expect inventory to continue to rise as 3.2 million homeowners escaped the shackles of negative equity in the last 12 months and an additional 1.9 million are expected to enter positive equity in the next 12 months. Selling now while demand is high and before supply increases may garner you your best price.
According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year mortgage have increased up to 4.57% which represents a jump of more than a full point since the beginning of the year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will continue to climb. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.
4
New Construction is coming back
Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the corner. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative for many purchasers.
An invitation from Windermere to you The amount of reasons why you might consider selling your home varies from family to family. You might find yourself asking; What can we gain from selling now and what could be lost by waiting to sell? There are many important factors to be considered when listing your home and a REALTOR® can be the help you need to find those important answers. Accept this invitation to contact your Windermere Real Estate Agent anytime you have a question about your property. We have the answers to your questions and can make selling your home be the most effective move you could make this quarter.
q3 2013 fast facts
the Last of the Farmers markets
Davis, Salt Lake, Utah and Wasatch County
Properties sold
7,272 Wasatch Front, Salt Lake, Utah and Davis County
average days on market
58
The average number of days it took to sell a Utah home.
New Listings
11,296 There was a 25% increase when compared to 3rd Qtr in 2012.
All Average Sold price
12% This is the percentage of increase compared to 3rd Qtr in 2012. These Fast Facts Were Compiled From the Wasatch Front MLS for Salt Lake, Utah, Davis and Wasatch County.
Salt Lake City Downtown Farmers Market Pioneer Park | 300 South 300 West June 8 — Oct. 19 | Saturdays 8 am – 2 pm August 6 — Oct. 22 | Tuesdays 4 pm – Dusk Murray Farmers Market Murray City Park | 200 East 5200 South August — October | Fridays and Saturdays | 9 am – 2 pm The People’s Market 1000 South 900 West May 12 – October 27 | Sundays 9 am – 2 pm South Jordan Farmers Market 1600 W. Towne Center Dr. (10600 S.) August — October | Saturdays 8 am – 2 pm Sugar House Farmers Market Fabian Lakeside Pavilion | 1330 East 2100 South July 5 — October 11 | Fridays 4 – 8 pm Wheeler Farm 6351 South 900 East June 2 — October 27 | Sundays 9am – 2 pm
Marvin Jensen, REALTORÂŽ
2348 S Foothill Drive, Salt Lake City, Utah 84109
801.403.4030 Today 8:00 am - 8:00 pm
CLICK TO VISIT MY FACEBOOK PAGE
Improve your garden and plant in the fall Snow has already fallen on many of the Wasatch benches and frost warning temperatures have been issued for the valleys. Many of our gardens are ready to be harvested and you may have thought the growing season was over, however did you know Fall is considered by many gardeners to be the best time to plant? In Utah, Fall air temperatures can quickly turn cold, but the soil stays warm enough to plant the perennials you want to return in the Spring. Not only will plants fair better in the long run when planted in the Fall, but it will also improve the look of your landscape if you’re considering listing your property in the Springtime. Contact your local garden center with questions about how you can improve your landscape.