Archive for the ‘Real Estate Market Update’ Category

WHAT MOTIVATES BUYERS AND SELLERS

Friday, November 5th, 2010

motivates buyers and sellers

I was thinking the other day what motivates sellers to sell and buyers to buy.  Selling is often more motivating because there is usually an underlying reason to sell.  This can be a job change, job loss (especially now), divorce, too much room, or not enough room for an expanding family.  It is tough to be a seller now because most sellers feel like they are losing money compared to a few years ago but it is all relative to buying a few years ago.

What about buying?  This year the government incentive of $8000 motivated some people to buy, the lowest interest rates in history, tired of being at the mercy of a landlord, wanting a yard for a pet, and comparing owning to renting are all some good reasons to buy.This may sound wierd but I think houses have feelings and as soon as you walk through the door, you feel it. There is that special feeling  that makes a buyer choose that house. It might not be exactly what they set out to buy, but it is the one they choose.

Some people will be at a social event and start talking with a lender. They may think they are not candidates to buy and then find out about all the different programs available to help them get into a house or they start talking with the many real estate agents out there who just know of a perfect house for them and it starts the wheels turning.

Whatever it is that motivates you as a buyer or seller, make sure your realtor is accessible and understands and cares about your needs.

Second Quarter Home Sales in Salt Lake County

Monday, August 30th, 2010

Salt Lake Aerial ViewAs reported by The Salk Lake Board of Realtors on July 29, 2010, Salt Lake home and condo sales increased 11 percent compared to last year’s 2nd quarter.¬† The medium price was $205,900 which is 7% lower than the $222,000¬† price last year at this time.¬† All in all not so bad!