Market Conditions for Cottonwood Heights, Utah Reported by Darrell W. Catmull, Principal Broker Updated December 30, 2008.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

On a scale of 0 - 24, the market saturation (or absorption) factor in Cottonwood Heights is 10.24 Months of inventory. The market saturation factor scale is determined by analyzing three parameters: 1) The number of homes currently listed for sale; 2) the number of homes currently pending sale; and 3) the number of homes that have contractually been sold. The market saturation factor thus indicates an opportune time to either sell or buy a home in a particular zone or zip code area. The lower the saturation figure, the greater the chance of selling the home at an optimum price in the shortest amount of time possible. Of course, other important factors affect value, but when the market saturation is favorable in Cottonwood Heights presently, it just boils down to one consideration - now is a great time to buy and fair time to sell.

Worldwide, the collapse of the Sub-prime market is a blessing to some, but a curse to many others. If you are a seller, the fantastic price you thought you would receive from the sale of your home is but a dream; you will not get it for many years. But if you are a buyer with good income, good credit, and a good down payment available, the market will welcome you with open arms. Should this buyer also be fully approved within the context of current underwriting guidelines, then this buyer will have a wealth of available homes to choose from through 2012. Conversely, the seller must be aware that the price of the home cannot be based on historical data. It must be based entirely on current competitive sales. This is not an easy task, even for a veteran broker such as I. Based on the actual real estate market, it is crucial to set the price at the competitive rate, neither too low nor whimsically high. I estimate that we lost between 40 to 50 percent of our buyers in greater Salt Lake City due to the lenders' underwriting guidelines that were changed in mid 2007, when loan programs and guidelines were changing daily. This created confusion and uncertainty among buyers and agents alike. Now, loan qualification guidelines have been constricted to such a point that it is extremely difficult for borrowers to obtain the same-size loan comparable to the previous year. Lenders are simply taking a more focused, harder look at credit scores, documented income and deposits, and every other aspect of qualifying a buyer. I predict this credit squeeze trend continues for several more years. If you are selling or buying property, it is imperative that you choose a real estate broker who knows the way around the block, with experience, tenacity, street smarts, and the ability to stay one step ahead of market conditions.

Looming in wake of the sub-prime debacle is more economy woes. Virtually unknown to the laymen but widely known among financiers is the technique referred to as a Credit Default Swap (CDS.) As we move into the next phase of the "Credit Squeeze," prepare for credit drama sequel. Behind the scenes in the world of credit, the sentiment around mortgage-linked securities is worsening. The negative cycle our real estate market is directly associated with the irresponsible lending of the past. Is the worst is yet to come? Is there light after the gloom?

ZIP Code: 84121

Location Characteristics: (801) 262-9980 Office
(801) 560-0809 Cell

Cottonwood Heights, the city between the canyons. This location is arguably one of the best locations in Salt Lake Valley. A variety of price ranges, abundant business and retail, easy access to freeways and convenient access to recreation,

Cottonwood Heights has a population base of more than 28,000 people and an average income level above 62,000, and fits a wide variety of lifestyles. With an abundance of recreation, quality housing, endless shopping opportunities or a career in an ideal location, Cottonwood Heights City is well established. Cottonwood Heights is home of the first major city that included Hi-rise office buildins outside of downtown Salt Lake City. The Fort Union area proved to be a huge success and subsequently other cities followed their lead. Darrell Catmull is happy to assist you in your search for that perfect location, whether it's a home or a Class A Office.

In any market Cottonwood Heights is highly desired and a great investment. Call me now with questions about buying or selling in Cottonwood Heights.

For More Information:

• Visit My Web Site
  
• View My Newsletter
  
• Ask Me A Question
  

Darrell Catmull is the principal broker for Destiny Real Estate. His primary objective is to help clients buy and sell real estate in Salt Lake County, Utah. Prior to managing Destiny Real Estate, Darrell learned all aspects of the trade and developed his no-nonsense approach to real estate sales by working for 10 years as an agent with two large franchise companies. Darrell thus brings to the Destiny Real Estate table over 15 years of real estate and financing experience.
One of Darrell’s strongest traits is his confidence. He does his business openly, honestly and without guile. He relies on his creativity, tenacity and acute business sense to get the job done.
Darrell takes a sensible and logical approach to every real estate transaction he brokers. And he’s good in the clutch: Darrell is the kind of team player you want with you on the field when it’s fourth down and 20 yards to go – he simply does not give up under the worst of circumstances. Based on this fact alone, you’ll want him on your side. And when you add that he is resourceful and a forward-thinker who often anticipates solutions before problems even occur, you can be certain you have made the right choice. Darrell has an uncanny intuition and foresight that enable him to negotiate as few do. He is one of the rare professionals in the real estate business who can balance assertiveness and control with understanding and kindness.
Take a look at Darrell’s track record and you will see that by maintaining a strategic, analytical game plan for each unique real estate situation, he is committed, with a quiet passion, to create value for his clients.

“Darrell’s client support went beyond the sale to meet post-transaction needs. Darrell is a true professional that will go to great lenths to satisfy the client. I whole-heartedly recommend Darrell. Should you have any questions please contact me, by asking Darrell to provide you with my work number.” – Rod Huck

“Darrell did some amazing things to quickly find the home I wanted. Selling my home went just as smoothly. I got a better price than I was expecting. Darrell is by far the most knowledgeable, competent, and aggressive agent I have known. His understanding of the business and the market, his connections and technical experience fare exceeded my expectations. And one more thing I’d like to say about Darrell. He is so friendly, cheerful, and agreeable; he made the whole experience a pleasure.” – Kent Sorensen

“After six months of anxiety and worry with another company not being able to sell our house, we were a little apprehensive about hiring another realtor. A few weeks after our contract expired with the other realtor, we got a letter from Darrell. He came through for us on everything that he promised, even down to getting us the price we asked for the house. – Marian Ferguson