Wasatch Front Real Estate News

Found 33 blog entries about Wasatch Front Real Estate News.

 

A HEARTFELT THANKS TO OUR CLIENTS

Berkshire Hathaway HomeServices Utah Properties received numerous brokerage, office, team, and individual awards at the annual Sales Convention in Phoenix, Arizona on March 14th, 2017. Utah Properties was celebrated as the 12th highest performing brokerage while the Park City Office the 3rd highest sales office was in the network. “Our Berkshire Hathaway professionals are true industry leaders.” said Owner and CEO, Steve Roney. “This year’s convention and honors confirm the caliber and accomplishment of our entire Utah team. I look forward to continuing to excel as a brokerage in support of our diverse client base.” 

Thank you. At the end of the day, our clients are the motivation and backbone

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BERKSHIRE HATHAWAY HOMESERVICES UTAH PROPERTIES NAMED 12TH HIGHEST PREFORMING BROKERAGE, PARK CITY OFFICE NAMED #3 HIGHEST SALES OFFICE, AMONG OTHER TEAM AND INDIVIDUAL AWARDS

SALT LAKE CITY, UT – MARCH 20TH 2017 – Berkshire Hathaway HomeServices Utah Properties received numerous brokerage, office, team, and individual awards at the annual Sales Convention in Phoenix, Arizona on March 14th, 2017. Utah Properties was celebrated as the 12th highest performing brokerage while the Park City Office the 3rd highest sales office was in the network. Notable team and individual awards included Chin MacQuoid Fleming Harris as the 8th highest producing team, Carol Agle the #8 Agent, and Jan Wilking the #1 Commercial Agent in the network. Additionally, both the

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An Overview:

Below is a current overview of the market and the trends we expect to see in real estate this year. Reach out for more in-depth information on your neighborhood. 

WE ARE IN THE BEST STATE FOR BUSINESS

The perennial winner of Forbes' annual Best State for Business award, Utah remains competitively positioned to support continued real estate growth. With an abundance of technology, health care, and creative businesses planting roots in Utah, our state unemployment rate is among the lowest in the country at just 4%. Due to the state's unprecedented economic evolution, real estate sales are likely to remain robust in northern Utah.

JOB GROWTH MEANS HOUSING GROWTH

Utah’s job growth rate is 3 to 4 times higher than the

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Once a lawless frontier town, Ogden maintains a fiercely independent spirit, but now with a more focused mountain-to-metro personality. Ogden is rugged and rustic with an urban chill. Named one of the Best Places for Business and Careers and Fastest Growing City in America by Forbes magazine, Ogden offers the amenities of a city with the backyard access to one-of-a-kind outdoor recreation. Corporate headquarters of national brands including Browning Firearms, Swift Trucking, and ATK, and bordered by Ben Lomond Peak, Mount Ogden and Strawberry Peak, Ogden is a thriving economic center with a revitalized downtown and grand natural skyscrapers. 

With 38 recreational parks in the local area, Ogden has a playground for everyone. Whether it is rock

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Nestled in the south end of the Salt Lake Valley between the Wasatch and Oquirrh Mountains is a beautiful slice of suburban life known as South Jordan, or “SoJo” to the locals. Settled in 1859 by Alexander and Catherine Beckstead, South Jordan was primarily a rural farming community when it became an incorporated town in 1935. Today, South Jordan has grown to a population in excess of 67,000 as homes have steadily replaced farmland making it the 5th fastest growing city in the nation. 

Although recent residential development has ballooned, the city has available horse properties  and a large equestrian center. The city’s commitment to maintaining the natural beauty in and around the city, including open spaces and the green belt along

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slc

March 2016 active listings (inventory) was down 32% from March 2015; yet, pending sales are up 8% in Salt Lake City County. This trend of low inventory by high pendings has occurred consistently for the last year. Bottom line: demand for housing remains strong, and inventory remains constrained.

Utah county has slowed slightly as far as pendings and Davis County has the lowest number of listings. The county is down 45% in inventory when compared to the same time last year. Once again, Davis county has more pending deals than they do active inventory.

Weber County is showing the same signs of frantic buyer interest with inventory down 37% from March of last yet, but pending sales are up 9%.

Davis County is seeing the strongest appreciation if

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Along the Wasatch front, rent is astronomically high while interest rates are still historically low; buying a home seems like a no-brainer. Yet Millennials have been slow to take on home ownership. Why the hesitation?

There are several factors: A recession which brought with it high unemployment resulted in a massive number of foreclosures that attracted real estate investors... in droves. With more rentals available and fewer homes for sale, demand for rental properties increased and with it, skyrocketing rents. In addition, New college graduates looking for higher-paying, career-oriented jobs were sidelined by high unemployment and unprecedented student loan debt limited access to credit and reduced borrowing limits.

Add it all

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While inventory along the Wasatch Front is down... way down, sales are up across all Wasatch Front counties.

 

Taking a look at Salt Lake County in January of this year, inventory is at 2430 homes across the county. That is down 30.20% from January 2015, yet sales are up 12.89% in the same comparison. In Weber County inventory is down 31.82% in January but sales are up 10.19% and pending sales are up 16.35%. Utah County had similar results in the same period comparison; 12.63% increased sales with 26.44% less inventory. What is amazing is Davis County has a 12.50% increase in sales over January 2015 in the face of a 41.38% drop in inventory!

Berkshire Hathaway HomeServices Utah Properties is doing well along the Wasatch Front. In

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Tax considerations for buyers and sellers
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taxes

Buyers and sellers need to be informed about tax considerations before entering a transaction.

If you have purchased or sold a home last year, there are a number of tax deductions for which you may qualify. Here are some important factors to keep in mind:

Profitability: According to the IRS, if you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income as a single tax filer, or $500,000 on a joint return in most cases.

Interest: Currently, much of the interest paid on a mortgage is tax-deductible. A married couple filing jointly can deduct all of their interest on a maximum of $1 million in mortgage debt secured by a first

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This comprehensive yearend market report is designed to give an overview of Summit and Wasatch County real estate. We feel that our clients should have access to information that facilitates thoughtful real estate decisions. All statistics are based upon Park City Board of Realtors MLS data for the period of 1/1/15 to 1/1/16.

The Park City market remains highly segmented. Our town, its neighborhoods, and outlying areas differ significantly in terms of price, home type, and features and amenities. For example, while Deer Valley and Prospector share the same zip code, average single family home prices in these two neighborhoods differ dramatically. Data interpretation, judgment, and historical context are key elements to making

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