For Logan Utah Real Estate, it's still the dead of winter, there isn't much snow left, but that doesn't mean that winter is over, or even close to being over.
Spring is typically the busiest time of year for the listing of Logan homes, as most people want to move during the summer months when school is out. There are also more buyers during spring. The typical seller will think, "I'll wait until spring to list my home."
While there will be more buyers, there will also be a lot more listings, and a lot more competitions. And while most of the will-be buyers are not out actually looking at homes yet, they are looking at them online.
Online buyer activity is currently up by more than 35% on our Utah Real Estate websites compared with December. Almost all home buyers start their home search online, and if your house isn't there yet, buyers aren't going to fall in love with it.
We are starting to see a large spike in the number of listings in Cache Valley, and this number will keep rising. Unless the nubmer of buyers outpaces the number of new listings, home prices will continue to decline.
It may not be the most convenient time, but your chances of selling your home by summer will probably be better if you list now rather than later.
Cornerstone just opened up a new office in Preston ID, so I've done a little bit of research about real estate in Preston Idaho. In general, the Preston market pretty much just follows the same trends as the Logan Real Estate market, however it seems to be a little behind, and home prices are significantly cheaper than they are on the Utah Side of Cache Valley.
Here are a few statistics about Preston ID Real Estate:
Preston Currently has 110 active residential home listings. In the last year, there were just 78 homes that sold. This gives Franklin County Idaho Real Estate almost 17 months of active inventory which is a little bit higher than the current active inventory in Cache Valley Utah. The best ever year for home sales on record in Preston was 2007 when 112 homes sold. Even if times returned to the glorious housing boom, that's still a years worth of active inventory.
The homes that are listed for sale have price tags substantially higher than those that have ever sold. The current median list price is $175,000. The median sold price over the last year was just $137,000. The highest the annual median sales price has ever been was just $147,000, and that was in 2009.
Essentially, thhis means that unless some new market force comes that makes Preston a more desirable location to live, home prices will be dropping for Franklin Idaho Real Estate.
Here are some good resources if you're interested in viewing Preston ID Homes for Sale, or Preston Idaho Land.
Springville Utah real estate sold increased by 21% during the 2nd quarter of 2010. Median sold price decreased from $192,500 to $178,450 and average sold price of houses in Springville decreased over 30,000.
When looking at 2nd quarter numbers over the past two years, homes in Spanish Fork increased 18.4%. Median and average prices of Spanish Fork real estate decreased between two and four percent
It's that time of year again where the Cache County Assessor sends out "property tax" notifications. This nice letter lets you know what the county thinks your property is worth, and how much your property taxes will be going UP the next year (Okay, so property taxes don't always go up, just usually.)
Last year the experts at the property valuation department raised the property values of almost all homes in Cache Valley, even though in reality home prices in Cache County declined. This caused a lot of controversy, and kept the appeals department very busy. I got dozens of request from people who wanted CMA's done, so they could appeal their property tax. I personally appealed the assessed tax value on two of my properties, and got both of them, plus my property values lowered.
Well this year, Cache County decided to wise up. Rather than increase the amount of property taxes because "property taxes went up" they actually lowered property values, but just let you know that if the "proposed budget" is passed, your property taxes will go up anyways. This way we can't get our property taxes lowered by pointing out their errors. From the two notices I have received so far, my Logan Homes decreased in value by about 6%. My Logan Duplex that had an estimated Tax Value of $200,000 before my appeal last year, is now valued at $169,000.
 |
|
|
Real Estate Specialist for Logan Utah Area Logan Real Estate - Cache Valley Real Estate Agent - Real Estate Internet Marketing Specialist - Cornerstone Real Estate Professionals
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
