Salt Lake City is one of a handful of cities that has recently been added as a Google StreetView City!
You are either really excited about this or really freaked out about it, but the bottom line is that this is good news for homebuyers.
Listing agents tend to take pictures from angles that conveniently leave things out like huge power lines in front of the house, substations or water treatment facilities next door, or avoid showing you that the home is on one of the busiest roads in town. (Among countless other things)
Now, from the convenience of your home or office, you can "drive" through the neighborhood and eliminate homes from your list that have these types of problems that otherwise may only become obvious by actually driving up to the property.
Another benefit is that you can now look at those homes where the agent was too lazy to take a picture (or purposefully didn't take a picture) of the exterior of the home!
Homebuyer Representation, Inc. is the only Real Estate Brokerage representing Buyers ONLY in Salt Lake City and the Surrounding Areas. We do not list any homes. We never represent Sellers. We work for BUYERS ONLY on the Buyer's side of the transaction.
We work to get BUYERS the Best Price and Terms when they Buy...
We're "Real Estate Agents who Represent the Home Buyer" TM
If you have excellent credit and are thinking about buying a $250,000-$500,000 home in the Salt Lake area in the next 30-60 days, call us at (801) 969-8989 or contact us via the link on this page.
©2008 Homebuyer Representation, Inc. All Rights Reserved
This snippet is from a recent Forbes.com article on rent affordability. What caught my eye was the phrase I bolded and underlined below.
"Behind The Numbers
When people move to an area, they often do so because of a job. That's why migration figures and job growth are invariably intertwined. As an expanding local economy lifts salaries, housing prices grow because buyers have the money to pay for better properties. Salt Lake City is a perfect example. (emphasis added) The metro's high job-growth rate has resulted in huge in-migration and a housing market where prices grew by double-digit percentages last year.
But the richest residents often head to the market's prime suburbs, which feature perks like pretty views, bodies of water and parks that are in short supply elsewhere. 
Those suburbs often begin as small residential centers, and are designed to be low density and non-commercial. But as they grow in population, they turn into economic centers of their own, acting as satellites to the principle city instead of escapes from it. When a suburb adds stores, restaurants, factories, malls, office buildings and other commerce centers, it requires a wider range of people, with a wider range of financial characteristics to keep it viable."
What has impressed me about development in Salt Lake County within the past 10 years is how the planners and developers are making sure to include the amenities needed to sustain the new communities. (Schools, parks, open space, shopping, etc.)
Communities like Herriman and Daybreak aren't just stuck out there with homes only, but infrastructure and commerce is also planned for which, in turn, creates economic growth in the newly developed areas.
Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage servicing Homebuyers in Salt Lake and Surrounding Areas. We do not list any homes. We do not represent Sellers. We work for BUYERS ONLY on the Buying side of the transaction.
We work to get BUYERS the Best Price and Terms when they Buy...
"We're the Real Estate Agents who Represent the Home Buyer" TM
If you are thinking about buying a $300,000-$600,000 home in the Salt Lake area in the next 30-90 days, call us at (801) 969-8989 or contact us via the link on this page.
©2008 Homebuyer Representation, Inc. All Rights Reserved
Inman News 12 month Price Appreciation Chart - Nov 2006 - Nov 2007
Comments to follow:
Statistical area | 12-month change Nov. 2007 |
Honolulu, Hawaii | 17.10% |
Salt Lake City, Utah | 10.53% |
San Antonio, Texas | 7.48% |
Austin-Round Rock, Texas | 7.47% |
Raleigh-Cary, N.C. | 4.62% |
Houston-Sugar Land-Baytown, Texas | 4.16% |
Dallas-Fort Worth-Arlington, Texas | 3.53% |
Charlotte-Gastonia-Concord, N.C.-S.C. | 2.62% |
Portland-Vancouver-Beaverton, Ore.-Wash. | 2.01% |
Seattle-Tacoma-Bellevue, Wash. | 1.23% |
New York-White Plains-Wayne, N.Y.-N.J. | -0.51% |
Detroit-Warren-Livonia, Mich. | -0.79% |
Philadelphia, Pa. | -1.00% |
Chicago-Naperville-Joliet, Ill.-Ind.-Wis. | -1.63% |
San Francisco-San Mateo-Redwood City, Calif. | -2.06% |
Atlanta-Sandy Springs-Marietta, Ga. | -2.59% |
New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. | -3.30% |
Denver-Aurora, Colo. | -3.30% |
Minneapolis-St. Paul-Bloomington, Minn.-Wis. | -3.93% |
St. Louis, Mo.-Ill. | -4.54% |
Boston-Quincy, Mass. | -5.11% |
Miami-Miami Beach-Kendall, Fla. | -7.23% |
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. | -7.77% |
Cleveland-Elyria-Mentor, Ohio | -8.72% |
Tampa-St. Petersburg-Clearwater, Fla. | -9.19% |
Phoenix-Mesa-Scottsdale, Ariz. | -11.42% |
Orlando-Kissimmee, Fla. | -11.49% |
Miami-Fort Lauderdale-Miami Beach, Fla. | -12.11% |
Oakland-Fremont-Hayward, Calif. | -12.89% |
Las Vegas-Paradise, Nev. | -12.96% |
Los Angeles-Long Beach-Santa Ana, Calif. | -13.16% |
San Diego-Carlsbad-San Marcos, Calif. | -13.16% |
Riverside-San Bernardino-Ontario, Calif. | -16.82% |
In today's Salt Lake Tribune, "Jillinda Bowers, president of Salt Lake Board of Realtors, said that when homes don't sell, 'our next step is to reduce the price. We have a positive and good market, but with the decline in sales right now, there is a need for more stabilization in the pricing.'"
So, will home prices go down?
Or, in other words, will the actual value of homes go down? Or is she just saying that all of the THOUSANDS of overpriced listings currently on the market will need to lower their asking prices?
Are homes not moving solely because they are overpriced, or has the demand for single family housing in Salt Lake simply slowed? Did almost everyone that wanted to buy a house already do it?
From my perspective, Sellers have been overpricing their homes by more than a year's worth of appreciation since late 2006. In the succeeding "frenzy" there were Buyers who would buy those homes anyway. (We were still able in most transactions to get our clients an "at, or below market value" price even in multiple-offer situations during that time.) Homes that were priced at or near market value would get offers, negotiations would take place, and those homes would sell. Homes that were priced well above market value did not sell. My clients and I walked away from many negotiations where Sellers were unwilling to sell their home at market value.
Here are my thoughts:
1. Sellers that do not need to sell will eventually quit listing their home at well-above-market value.
2. Sellers who need to sell are still willing to negotiate their prices down to at-, near-, or below-market value.
3. Builders who have built very expensive homes (where demand has slowed the most) will lower their prices significantly to finally move the inventory.
4. New Housing Starts will slow until the market gets rid of all the excess inventory via the first 3 points above.
5. Appreciation may dip. I believe that the average Sold Price of Homes will dip, not necessarily because the value of every home will truly drop, but because sales of Luxury and High-End homes will drop the most, bringing down the average value overall.*
6. Salt Lake will lull. We will creep back into the 2-5% appreciation rate range where we sat so comfortably for the 10-15 years preceding this latest market "correction" until we are once again behind the national curve and make another rebound.
Only time will tell. I'm interested in seeing what Spring and Summer bring.
Thoughts from Agents?
Thoughts from the Public?
Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage servicing Homebuyers in Salt Lake and Surrounding Areas. We do not list any homes. We do not represent Sellers. We work for BUYERS ONLY on the Buying side of the transaction. We work to get BUYERS the Best Price and Terms when they Buy... "We're the Real Estate Agents who Represent the Home Buyer" TM
For more information, call us at (801) 969-8989 or contact us via the link on this page.
*Remind me to look at the total number of homes sold in the following price ranges: under $150,000, $150,000-$250,000, $250,000-$500,000, over $500,000
I ran this report for 4th Quarter 2007 and thought that some of you would be interested in looking at the entire year's statistics.
| Salt Lake County Sales Activity Trend Report | |
| Report Date: Tuesday, January 22, 2008 | |
| Time Period: January 1, 2007 through December 31, 2007 | |
| Area(s): Salt Lake County | |
| Single Family Home Sales | |
| Price Class | Total |
| $0 - $49,999 | 64 |
| $50,000 - $74,999 | 24 |
| $75,000 - $99,999 | 52 |
| $100,000 - $119,999 | 119 |
| $120,000 - $139,999 | 355 |
| $140,000 - $159,999 | 623 |
| $160,000 - $179,999 | 991 |
| $180,000 - $199,999 | 1,145 |
| $200,000 - $219,999 | 1,010 |
| $220,000 - $239,999 | 1,053 |
| $240,000 - $259,999 | 871 |
| $260,000 - $279,999 | 793 |
| $280,000 - $299,999 | 700 |
| $300,000 - $349,999 | 1,235 |
| $350,000 - $399,999 | 760 |
| $400,000 - $449,999 | 512 |
| $450,000 - $499,999 | 321 |
| $500,000 - $749,999 | 692 |
| $750,000 or Over | 298 |
| Total Units | 11,618 |
| Average Price | $296,009 |
Report Generated from the Wasatch Front Regional Multiple Listing Service
Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage serving Salt Lake and surrounding areas. We do not list homes and we don't represent Sellers. We work for BUYERS ONLY on the Buying side of the transaction, to get the BUYER the Best Price and Terms... "We're the Real Estate Agents who Represent the Home Buyer" TM
For more information, just call us at (801) 969-8989 or contact us via the link on this page.
 |
|
|
Are you BUYING a $250,000-$750,000 Home in the Salt Lake area within 90 days? WE WORK FOR YOU on YOUR side! We evaluate homes, loans, & prices, and we counsel & negotiate FOR BUYERS ONLY! 801-969-8989
From my beginning years in the Real Estate industry I noticed that the majority of real estate agents represented Sellers. Training seminars and classes were geared toward increasing listings. The preferred method of finding Buyers was centered on getting more listings. Listings would generate calls and inquiries from Buyers.
I saw Buyer's being sold listings that would benefit the Listing Agent. Were they the best house for that Buyer? Maybe. But were they being shown everything? I don't know. I also saw that some Buyer's were not always being told of their options to get out of a contract based on the terms of that contract if the home turned out to be less than they expected. In short, Buyer's were not receiving full fiduciary duties from their agents. (More on fiduciary duties below...)
Buyers were often treated as customers rather than clients. Still, agents and brokers would convince both the Buyer AND the Seller to sign limited agency agreements, whick limit the amount of representation they receive, while allowing the Listing Brokerage to collect both sides of the re
al estate commission. Consumers are still reporting that they are often not told that they have the right to have an agent that will work ONLY for them.
Our brokerage represents Buyers ONLY. We do not list
properties and we protect our client's best interests throughout the transaction. We are hired directly by our clients and we offer full fiduciary duties to our clients. We do not ask our clients to agree to limited or dual agency.
Buyer's need to know that they can hire an agent that will work exclusively in their best interest, without conflicts of interest. Buyers need to know that there are agents out there who can give BUYERS full agency-level services if they desire them. The Listing Agent cannot offer that Buyer the full set of fiduciary duties. Seller's need to know, when a Listing Agent or Broker commits them to limited or dual agency, just what fiduciary duties they are agreeing to no longer receive.
From first time buyers to executives to empty nesters, we specialize in the exclusive representation of home buyers in the Salt Lake City area and surrounding counties. We offer full fiduciary duties and protect our client's best interests throughout their transaction. (see above).
We provide free consultation services and homebuying information to prospects. We negotiate on our clients' behalf and work to get the most favorable price and terms for the Buyer. As Exclusive Buyer's Agents, we provide comparables that reflect the true market value of a home, not comparables that justify an overpriced listing. Our job is equally important to us whether we are helping you close your deal, or if we are helping protect your best interest as we take a deal apart.
Our goal is to help you get the best deal on a home or property where you will enjoy living, spending time with family and entertaining friends! We also want to help you make sound investment decisions based on real facts and our expertise.
Read What Has Been Said by the Media About Exclusive Buyers Agents (EBA)
"We wanted someone who would work with us and not be constrained or biased by their own listings or those from colleagues in their same office or group. Benjamin was extremely responsive and even did virtual walk-throughs with us via video on the web. With his help, we found the ideal home.
"Benjamin came up with a brilliant approach that gave us a real advantage in the negotiations. We closed at a price well below the original asking price. We are extremely pleased with the property. Thank you Benjamin!"
-Vance Checketts Family, Provo, Utah
"I really enjoyed my first home buying experience thanks to your help."
-Nhat Nguyen, Draper, Utah
"We wanted someone that represented us. Someone who understood our ideas, our interests, our needs and stepped in to insure those things were protected.
"Tricia and I would highly recommend Ben Clark/Home Buyer Representation to anyone who wants a great experience in buying a home. Ben was totally committed to helping the process be pleasant and rewarding. Ben has exceptional follow up and he really was on our side, keeping our interests in mind. We were grateful to have Ben with us and many times he kept our builder in check which saved us a lot of money."
-Mark & Tricia Peterson, West Valley, Utah
"Working with Benjamin Clark on the purchase of my first home in Salt Lake City was a relaxing and enjoyable experience. Benjamin's knowledge and experience make it easy, as he seems to have his finger on the pulse of the SLC real estate market. He will work tirelessly to find the right property for you; but most importantly he will be there to negotiate for you, the buyer.
Near the end of the negotiations for my new home, the deal began to unravel at a time when I was overseas on vacation. Benjamin stepped up to the plate and not only saved the deal, but saved me some additional money as well. He was able to spot an opportunity and capitalize on it for my benefit.
When I consider purchasing a new house here in Salt Lake, I will without a doubt count on Benjamin Clark to put me into my new home!"
- Brian Bender, Taylorsville, Utah
"Your honesty and experience made the purchase of our condo smooth. We are looking forward to doing much more business with you."
- Jeff & Jonnica Kairn, Salt Lake City, Utah
"Conventional real estate agents do not have your interest 100 percent in mind. They are always connected to the seller, regardless if they are helping buyers. A Buyer's Agent, however, represents you and your interests entirely. That's why I went with Benjamin Clark. He will keep your needs completely in mind and will always be in your corner."
- Steve Sell, West Jordan, Utah
"Benjamin Clark was recommended to me by my daughter who was very pleased with his help finding her home. I enjoyed working with him very much. He was very personable, friendly and patient. We looked at many properties for several months. Benjamin was very patient and willing to work us into his schedule as often as we wanted.
I liked working with a Buying agent because I knew he was concerned only with my best interests. An Exclusive Buyers Agent doesn't have any properties to sell for another client or agency. They can direct their efforts completely to finding the properties that fit the criteria established with them as well as consider and suggest any options you may have missed or overlooked.
Ben is easy to communicate with personally, by phone or email. He was always available to answer questions and set up tours. He was very prompt in sharing all the newest listings with me, sometimes daily if necessary.
I would work with Benjamin again and have gladly recommended him to others."
- Kristine Higbee, Taylorsville, Utah
Living on the east coast made it challenging to buy a house in Utah. I liked the idea of an exclusive buyer's agent because I needed someone who was looking after my interests first. Ben was an invaluable asset in my search. He previewed house after house for me, communicated well, and didn't try to steer me toward houses I wasn't interested in. On the one day I had to look at houses myself, he helped me evaluate the pros and cons of each property, and even suggested remodeling ideas, one of which I used to create a much-improved entry way in my house. He gave me realistic comps to look at, and made it clear he didn't want me to overpay for the house. He took care of all the closing details while my husband and I were still across the country and went the extra mile to solve some problems that popped up after closing as well. I recommend Benjamin Clark without reservation. Anyone buying a house would be well served by him.
-Susan Theobald, Holladay, UT
We recently moved to the Salt Lake City, Utah area. We had read a few books and they all recommended getting an exclusive buyer's agent since he/she would represent your interests only as a buyer and not the seller's.
We looked up buyer's agents in Utah and we found Benjamin Clark. Ben was very helpful recommending extended stay hotels. Our initial meeting was very informative. We decided to hire him as our agent and started looking at homes with him. He set us up to receive daily emails that had brand new listings so that we would look at the newest listings first. Benjamin worked around our schedules to go out with us every week, including mornings, afternoons and even a couple of late evenings. He was very accommodating and we really appreciated his flexibility.
Benjamin was absolutely great. He was on top of things throughout the whole process. The communication was always excellent. When we finally found our dream house, he did his research and we were able to negotiate on the price in a short amount of time. He even got the seller to pay a large amount towards our closing costs!
Benjamin was very professional throughout the whole process. We had gotten the best possible deal because he worked for US and not the seller. He has the buyer's interest in mind so he will try to get you the best possible deal on the price, the time-frame, and any repairs that need to be done to the house. He never pushed us into looking at any house we didn't want to and he was very patient throughout the whole process. We were very pleased with the whole process. Getting Benjamin Clark as our exclusive buyer's agent was one of the best decisions we made. We would recommend him to all my friends and family and he would absolutely be our first choice if we were to buy another house.
- Ernie Adkins and Tamara Mendez -Happy New Homebuyers- Tooele, Utah
"Benjamin was wonderful to work with. He was an absolute lifesaver in what turned out to be a fairly tricky real estate transaction. We were so glad he was on our side - we would have been lost otherwise! Since Ben works exclusively on real estate purchases, he KNOWS the market, and knows it well. He knows fair market value on properties and can easily point out a good price or help avoid a not-so-good price.Overall, we got great dedication, great service and a great deal! We have recommended Ben and his services to friends and family, and we'll definitely be using him for any future home purchases!"
-The Cieslinski Family, Murray, Utah
"When buying property, I will always use an exclusive buyer's agent. I contacted Ben when my wife and I were interested in purchasing a condo in Park City. He had no problem working with me for several days to show me all of the properties that met my criteria. I never felt pushed as I do with other realtors, he is very mild mannered and easy to work with. He handled all aspects of buying real estate with professionalism. I would definitely recommend him."
-Dirk & Pat Mitchell, Park City, Utah
As a buyer's only agent, Ben Clark helped us beyond our expectations:
1. Ben negotiated for us in such a way that we knew that his commission was secondary to our getting the best price. He helped us hold our ground until the seller budged. It would have been easy for him to say "Just take it." He would have made some extra money on a % basis, but he truly represented our interests.
2. After we moved in, we found some things that needed to be done. Ben went to bat for us and got those things repaired. He could have easily said, "Not my problem."
3. On a couple of the more difficult items, Ben spent many hours researching and communicating with the seller's agent asking for resolution.
I have never seen someone work so hard who has already gotten paid!
-Steve Theobald, Holladay, UT
I wish to take this opportunity to express my support for Ben's excellent service rendered as my real-estate agent. His representation, counsel, and advice are greatly appreciated. His knowledge of real estate, openness and ability to assist others indicates his self-confidence and security as a real-estate agent. Because of his strong commitment and creative ideas he was able to bring a most difficult transaction to a successful conclusion. Without reservation I give Ben my highest recommendation. He is certainly a progressive, knowledgeable realtor, dedicated to his profession and his clients.
-Andy Earle, Pharmacist
Captain, United States Army, Retired
Thank you so much for all your help in finding our new home. We moved in this past weekend and we love it! The animals are in shock from going from our 700 sq. foot rented home to this 1850 sq. foot home! The young cats think it's his own personal playground! The house is great! Thanks again for everything! We wish you and your family the best!
- Jeff and Ina Landry, West Valley
Just wanted to thank you again for your efforts in helping us find and close on our home. We have been very happy here this last year.
-Marjanne and Aaron Corley, West Valley
1. We chose to work with an Exclusive Buyer's Agent because we knew that only our best interests would be represented by our agent. A traditional agent may or may not have been showing us homes that they or their agency has listed. By choosing to work with Home Buyer Representation, we knew that there would be no worries of seeing partner agent homes or any other conflicts of interest.
2. The only other agents that we worked with were those representing the sellers of the homes that we were interested in. Ben was much more personal than these other agents. When we spoke to the other agents, it felt like we were just another sale, with Ben, we felt like he had our needs in mind at all times. Ben also seemed to be much better at follow through than the other agents.
3. I think that the internet has changed the real estate market quite a bit. I am very impressed with how integrated the use of internet technology was used while Ben was working with us. Ben took the time to respond to our e-mails two or even three times in one day! By staying in constant e-mail communication, as well as making himself very available by phone, we really felt like we could ask him anything, anytime.
Additional comments: Throughout the buying process we changed our buying strategy several times. Ben took the time to adjust each time and essentially start our home search over without getting frustrated. Ben make every effort to take care of us as buyers and he saved us an estimated $5,000 on actual costs on a new construction home purchase. Ben also saved us much more by helping to negotiate sweat equity that is normally unheard of in the subdivision we purchased in.
Ben keeps his client load to a minimum to focus on your needs. He was not pushy at all which I really loved, we must have looked at more than 30 or 40 different homes before deciding. I would highly recommend Ben to anyone looking to purchase a new home. We moved into our new home in Oct 2006 and are very happy with all of Ben's services. He is very professional and experienced. everything was such a smooth transaction. Thanks Ben !!
-Tony, Jessica & Alexandra, Daybreak
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
© 2009 ActiveRain Corp. All Rights Reserved
