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Market Conditions in Salt Lake City : Real Estate Advice

  • All225
  • Local Info30
  • Home Buying69
  • Home Selling14
  • Market Conditions8

Activity 11
Mon Sep 29, 2014
Steve Martin answered:
Things are moving really well right now in the area right now, with all the things happening at the University there has been an increased in demand.
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Mon Sep 29, 2014
Steve Martin answered:
I would concentrate on the downtown area north of 2100 S & east of State, with all of the things happening downtown, expansion of the University of Utah, and more working professionals there is a strong rental market, yet still opportunity to buy a great deal. ... more
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Fri Aug 22, 2014
Toddtownsend answered:
If you are looking for a good bus commute to the University of Utah, I would suggest living on the 21 route (anywhere on 2100 E to 2100 S). It takes people to campus in various places (including medical center, hospital, student union) with pickup every 15 minutes. Really is the best bus route available as far as frequency to the University of Utah. ... more
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Tue Jun 17, 2014
Sandy Straley answered:
Please email me the address and I will be happy to email you some comparables -- I have been selling homes in the Salt Lake Valley for over 30 years and know the areas very well also. Thanks again and you can contact me at: sandystraley@saltlakecityvalleynewhome.com
Sandy Straley, Broker
SunviewHomes/Rindlesbach Homes
801-808-8110
www.saltlakecityvalleynewhome.com
... more
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Sat Dec 21, 2013
Marvin Jensen answered:
The Department of Health keeps records of meth contamination.
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Thu Oct 10, 2013
Terri Pehrson answered:
Hi Thequestr,
Maybe this link can help you out in answering your question. Please let me know if I can help you with anymore questions. http://www.scribd.com/doc/115079810/AYP-Low-High-Performers
terripehrson@kw.com
... more
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Thu Sep 1, 2011
Peter Reiter answered:
I've seen studies like this before and it's an interesting phenomenon that at a certain price point it becomes cheaper to buy than rent a specific property, but over all this leaves out many factors that need to be taken into account. If anything I think it underestimates the advantages of renting (something you don't hear from most agents).
Some of the factors that don't go into this are capital expenses, like major homes repairs such as a new roof, it also doesn't take into account the costs of buying and selling, about 14% of the total home price for the buy and then the sell put together. It also doesn't take into account flexibility, it's easy to move if you are renting, hard if you are buying, I wouldn't advise a buy if you aren't staying put for at least 7-10 years.
There are also some other market conditions, condos rent for more than houses, location in the city, etc. This does not of course mean that buying can't be a great option even at a low price point, there is the accumulation of equity, tax write offs for interest and some expenses, houses are great ways to guard against inflation, etc.
Let me know if you are interested in moving into the home buyer segment or just if you have any other market questions, I'm always glad to help answer questions.
Thanks
... more
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Tue Sep 23, 2008
Jeff Albrecht answered:
Then, from a mortgage perspective:
The national average was a homeowner will conduct a mortgage transaction every 2.8 years,
or 2.4 years if you are in California. (It seemed more like every 6 months sometimes for the SoCal folk.)
Of course with values declining - I havent read the "new & improved" turns.
Hey - let's ask Suze Orman!
The reasons - now this could be because:
-ideally, a rate & term refinance to lower your % rate,
-cash-out, perhaps you are OBE (Overcome By Events) i.e. death, divorce, tragedy.
-home improvements, adding a dormer, or a swimming pool, etc.
-you sold your home, and needed a mortgage for the new home.
That's why - a GOOD mortgage person will be a true advocate for your financial needs, and understand your timeline, goals, will you transfer, are you upwardly mobile? kids? bigger/smaller house on your radar?
The last thing you want to do - is to "leave money on the table" but not understanding your refinance costs,
and a break-even analysis of the costs divided by your savings.
If you spent 1.0 point, to save .250% on the % rate - but then you move in 2-3 years, what have you realy gained?
... more
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Tue Sep 23, 2008
Mercedes Holte answered:
The first step is to contact the city code enforcement office. They are in charge of making sure that issues mentioned herein the question stop from occuring.
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Mon May 26, 2008
James Graham answered:
Just an update (Not anymore) May 26 2008. No areas in utah!
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Mon Apr 28, 2008
James Graham answered:
Salt lake condos sales have been extremely stable and somewhat appreciating over the last 12 months. I think with all the development downtown, job growth and location of your home. I would expect your home to stay stable until next spring and follow with appreciation. After all condos are easy to get loans on our market is not over saturated, It just has been over priced in the past. Just to give you an Idea, Im closing 3 buyers in the condo market just this week! ... more
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