Magna, UT

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

It's Not About the Money -It's about life long relationships that are based on Customer Service Excellence.

The "Voice of the Customer" is where it all begins. Customer Service Excellence is not just words. It's our CULTURE.

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!

Magna homes sold dropped 37%. Median and Average sold price decreased by around 7%. Current price of homes are slightly higher but haven't risen much when comparing to other towns in the area. In fact, homes in Magna are some of the most affordable in the valley. There is one year of inventory and 183 active listings.

Magna UT homes saw a big hit in 2008, with number sold dropping by almost 40%. The median and average prices only decreased slightly by about 3%. Median price of homes is currently about 2% higher than what the median sold price was in 2008. This means the homes are priced at what they should be. There are 7 months of active inventory and 190 active listings to satisfy a variety of needs.

These numbers are not official.

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 indictors) to confirm a market bottom. This is NOT a good time for conservative buyers to purchase.

High risk tolerant investors and speculators 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.

Also it is good to note that those waiting for a market bottom confirmation will miss the bottom. This is because confirming factors are lagging indicators.

Buy and hold is the best buying strategic for owner/occupied and investor purchases.

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

We still are having a low percent of new listings being SOLD. Currently (25.45)% on a year over year, YTD comparison and we need positive % of listings sold, with positive price action to confirm market bottom.

Please see data below.

PRICE ACTION

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

SUMMARY

Currently we are not seeing the needed positive price action to confirm a market bottom. This is NOT a good time for conservative buyers to purchase. High risk tolerant investors and speculators are doing some bottom fishing.

For more details or just to chat about market conditions please feel free to contact me.

Thank you

Data considered accurate... However is NOT Guaranteed. Contact your Local Realtor for the most up-to-date data.