Clearfield, UT

Clearfield homes sold have followed similar county trends. Sales took a pretty big drop around 2006 but last year increased slightly so it appears that the downward trend for Clearfield Real Estate will change. Sold prices have stayed pretty close to the 4% increase based off of prices in 2000.

Roughly 40 percent of all home sales this year were foreclosures or short sales, meaning the property sold for less than the mortgage. In some markets, like Las Vegas and Phoenix, they've hit more than 50 percent.

Appraisers determine the value of a property by looking at recent sales of comparable homes. They take an apples-to-apples approach, excluding or making adjustments for certain features, such as a swimming pool or finished basement. And generally, a foreclosure isn't used as a comparison for a standard sale.

However it is getting increasingly difficult to find homes that are not Short Sales or Foreclosures for comparable. As a result homes that should be valued for more (as compared to what a buyer would pay and a seller is willing to accept) money are being appraised for less. All this does is kill deals or make it even harder for the Seller to make back their money on the home. Fortunately, here in the Salt Lake City, Ogden area that trend is not as drastic as in other area's. I have seen homes that have appraised for a lessor amount, but only by less than $10,000. Where as in a few examples in California the difference can be as much as $55,000 less than the buyer had agreed to pay. What is the problem, since the buyer is willing to pay that much? Well if the value of the home is $55,000 less, then the bank will not approve a loan for the increased amount. If the buyer has the cash, then the difference can be made up. But in the end usually the seller loses out, thus making this a clear "Buyer's Market"

Sean Tracey

www.myutahcommunity.com/j15

RE/MAX Unlimited

801-784-0055

In Clearfield there have been 32 homes sold in the last 30 days. They have ranged in price from $49,900 to $232,000 with an average of 49 days to get sold. The average sales price of homes in Clearfield is $149,150 making Clearfield affordable for many first time home buyers. At the time of this report there are 146 homes for sale in Clearfield. A 6 month supply is considered a balanced market, any more than that is a buyer's market. At this time we have 4.56 months of supply on the market, which is good news for those thinking of selling.

For more information visit my web site at www.jimmcewen.com or give me a call at 801-686-5550. If you are looking for a home try our free web site http://www.FindYourUtahHome.com

We need Positive Price Action to confirm market bottom. One month of price improve isn't sufficient to confirm the market bottom. We need to see appreciation month over month for three months.

PRICE ACTION

Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.

SUMMARY

Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom. This is NOT a good time for those with low and/or no risk tolerance to purchase.

High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.

Some are trying to time the market and market timing is risky. Trying to time the bottom is not for the inexperienced buyer and extremely difficult.

Those waiting for a market bottom confirmation will (almost always) miss the bottom. This is because confirming factors are lagging indicators.

Buy and hold is the best buying strategy.

Data considered accurate... However is NOT Guaranteed. Contact your Mark Watterson your Local Property Resource Specialist for the most up-to-date data and help to determine your specific risk tolerance.

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Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc. and a Utah license Loan Officer with Springwater Capital, LLC

Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties. View comprehensive property resource information at www.markwatterson.com

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My customers refer their family and friends because of the exceptional attention to detail, customer focus and the value added services they receive. An unmatched passion and love for providing these services is the thread that binds the entire business process together making it a smooth and seamless event.

In fact it doesn't even seem like business. Because it's all about you, your goals and objectives.

You should expect the highest level of service and you deserve it. It's about you, the right property and your GOALS. YOU Deserve the BEST!

Homes in Clearfield experienced the largest drop in number of homes sold in the county. 38 less homes sold, decreasing 34%. Part of the reason may be because sold prices increased slightly instead of decreasing like most other cities. Average sold price of Clearfield homes took a small climb of about $1,000 and median sold price increased close to $7,000. Current home prices are not far off from what they were sold at last quarter.