News on the Salt Lake Real Estate market is much like the new on the rest on the economy, mostly negative. We all know that 2008 has been a terrible year for real estate, whether it is existing home sales, new construction or commercial. It is time to look at what few positive signs there might be out there. Mortgage rates, with the support of the bailout, are now below 6%. This combined with lower home prices have made homes more affordable than in a long time. This should mean we see a pickup in activity after the New Year (don't count on anything during the holidays). I do believe it is outstanding buying opportunity for investors, whether you are interested in single family, multi-family or commercial properties. What does this mean for the buyer? There is a lot of inventory out there and much of it has sat on the market for a while. While we may not be at the bottom of the market it will not likely go much lower so this is the time to buy. The big thing is that list prices are higher and you will need to negotiate to get to the "correct" price. If you would like assistance in getting the home work done and finding that right house please feel free to contact me. What does this mean for the seller? Nothing has changed it is a buyers market, which is the first thing we must all understand. There are buyers out there, but there is also a lot of inventory and currently about 75% of all sales are under $300,000. The holidays are a notoriously slow time and this will make things worse, at least for this month. As a seller you must do something to make your house stand out from the rest. Price is very important and you must be patient and knowledgeable to sell your home at the best price in the shortest time. Please feel free to contact me for any assistance you may need. How about the investor? This is the time to buy! Buyers are in the driver's seat and you can negotiate a good deal on most properties. Vacancies are low and rents have increased both positive signs for investors. The one difficult area is financing. It can be done but it is more difficult than it was over the past couple of years. What this means is, if you have cash to put down and a strong credit rating, this is a great time to buy. Please feel free to contact me for further information.
ZIP Code: 84020 Location Characteristics: Draper is an up and coming area in the Salt Lake Valley. It offers a tremndous mix of homes including a large number of new home developments. A rapidly growing commercial base is helping to strengthen the growth of the area. Proximity to numerous outdoor activites; skiing, mountain biking, golf, etc. make it a wonderful place to live. With all this it is located only 25 minutes from downtown Salt Lake City.
About Steve Bojack:
Whether you are looking to buy or sell real estate, you understand that it is a major financial decision. When you are looking for a real estate professional to assist you in these transactions, whether a first time buyer or a seasoned investor, you are interested in finding someone who has the knowledge and background to assist you in finding the property that suites you. This means someone who is focused on your needs and desires not just “making the sale”. This requires someone who as a vast background and is involved in the local community so that they understand what makes it tick.
I have a varied background that includes 13 years in the U.S. Air Force flying F-16s, marketing experience with Lockheed Martin and 9 years as an airline pilot with Delta Air Lines. This background helps shape my professional view and displays the drive and desire I possess, but what is desired in purchasing real estate is someone who knows the business. I currently work for the RE/MAX Canyons. We are a leading sales team in the Salt Lake Valley and have the knowledge and assets to assist in whatever real estate transaction you desire. In addition, I believe any professional must be involved in what they are selling. I am invested in multiple properties around the Salt Lake area as I believe in the real estate market here and want to be a part of it.
I also believe that those of us promoting the area need to be a part of it. I am involved in the local community in a number of ways including coaching youth sports, volunteering in support of the elderly and being a member of the school board at St John the Baptist Schools. This involvement helps me to be in touch with the community and assist those that are interested in moving to or investing in the local community.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
