This graph shows how long homes took to sell in the 4th quarter of 2007.
This is only for SOLD homes. As you can see, for homes that DID sell, the average time on the market was 44 days.
The percentage of homes selling in 30 days or less was 43.7%.
The percentage of homes selling in 60 days or less was 72.3%.
The percentage of homes selling in 90 days or less was 88%.
The percentage of homes selling in more than 90 days was 12%.
| Days on Market | |
|---|---|
| 1 - 30 | 1,141 |
| 31 - 60 | 748 |
| 61 - 90 | 408 |
| 91 - 120 | 173 |
| 121 or Over | 141 |
| Average | 44 |
| Days on Market is calculated by counting the days between the Listing Date and the Contract Date (the date the home goes under contract). | |
This sounds good if you are a Seller. However, remember, this is only the time on the market for homes that SOLD. In the Fourth Quarter 2007, only 36.31% of all new listings SOLD. That means that over 63% of the homes listed DID NOT sell. This number is down slightly from the 3rd Quarter of 2007 which means that the market is doing slightly better. I'll break down some other statistics in a future post.
Homebuyer Representation, Inc. serves Salt Lake City, Utah and surrounding areas. We work for Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
As Exclusive Buyer's Agents, We do not list homes and we don't represent Sellers. If you are thinking about Buying a Home in the Salt Lake area in the next 3-6 months, call us at (801) 969-8989 or contact us via the link on this page.
Here are some numbers from 4th Quarter 2007. I'll only use the final number in other calculations but I thought some people might be interested in seeing it broken down by Price Range as seen in the table below. (This data is for SOLD homes.)
| Salt Lake County Sales Activity Trend Report | |
| Report Date: Tuesday, January 22, 2008 | |
| Time Period: October 1, 2007 - December 31, 2007 | |
| Area(s): Salt Lake County | |
| Single Family Home Sales | |
| Price Class | Total |
| $0 - $49,999 | 15 |
| $50,000 - $74,999 | 6 |
| $75,000 - $99,999 | 13 |
| $100,000 - $119,999 | 23 |
| $120,000 - $139,999 | 63 |
| $140,000 - $159,999 | 150 |
| $160,000 - $179,999 | 202 |
| $180,000 - $199,999 | 190 |
| $200,000 - $219,999 | 212 |
| $220,000 - $239,999 | 199 |
| $240,000 - $259,999 | 168 |
| $260,000 - $279,999 | 142 |
| $280,000 - $299,999 | 120 |
| $300,000 - $349,999 | 206 |
| $350,000 - $399,999 | 139 |
| $400,000 - $449,999 | 71 |
| $450,000 - $499,999 | 52 |
| $500,000 - $749,999 | 119 |
| $750,000 or Over | 50 |
| Total Units | 2,140 |
| Average Price | $286,336 |
Data from Wasatch Front Regional Multiple Listing Service
Homebuyer Representation, Inc. services home buyers in Salt Lake City, Utah and surrounding counties. We work for Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
Exclusive Buyer's Agents do not list homes and don't represent Sellers. If you are thinking about Buying a Home in the Salt Lake area in the next 3-6 months, call an Exclusive Buyer's Agent at (801) 969-8989 or contact one via the link on this page.
Mayor Peter Corroon's State of the County Address gives a glimpse into what makes living in the Salt Lake Area so great.
It gives a brief analysis of each of the following priorities:
My favorite part of the speech is the following:
"Salt Lake County is still the most populous county in the state, with an estimated population of more than 1 million. Our county is expected to grow to nearly 1.4 million by the year 2030. And Utah ranks No. 3 in the U.S. for life span with an average of 78.7 years, meaning most of us should still be alive and kicking for years to come. Today's news also reports we are No. 5 in lustfulness in Salt Lake City.
Why are these numbers important?
Because Salt Lake County's young population, coupled with our long life expectancy and population growth, means that when we make decisions we are not planning for the next year or two - we're laying the foundation for lifetimes. "
I have seen the long-term thinking involved in the planning of communities, developments, transportation and many other projects by the local governments in the Salt Lake County Area.
If you are attracted to laying a foundation for your lifetime in the Salt Lake City Area, make sure you find out how Exclusive Buyer's Agents work to protect you and save you money when you buy a home.
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 Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
For more information, just call us at (801) 969-8989 or contact us via the link on this page.
As home inventory grows, typically rental rates don't rise as much. This is because people can just as easily buy than rent.
A recent article at Forbes.com suggests that even though Salt Lake's inventory of available homes for sale is growing, rental rates are still rising because job growth is the highest in the nation and is bringing in a "steady stream" of people into the state.
"Job growth also affects renters. Salt Lake City has one of the fastest rates of new construction, but it isn't fast enough to keep up with job growth. A 3.1% uptick in jobs is the highest of any city measured, and the result has been a steady stream of new citizens moving to the city. More jobs, more people and higher wages have lifted prices in both the rental market and sales market there. "
If you will be relocating to the Salt Lake City area in the next 3-6 months, find out why you should hire an Exclusive Buyer's Agent to represent your best interest when looking for and buying a home.
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 Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
For more information, just call us at (801) 969-8989 or contact us via the link on this page.
Park City is offering a free lift ticket in exchange for your same-day boarding pass to Salt Lake Airport. Unfortunately, it seems you must not be a Utah resident to take advantage of this offer.
So, those of you who are visiting Salt Lake from another State (Including clients of mine who are relocating here!) don't forget to click on the link below and read the full terms of the program.
http://www.parkcityinfo.com/quickstart/
Ski Free then Buy a Home with Me!
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 Home Buyers ONLY - to get the BUYER the best price and terms possible on the best home available!
For more information, just call us at (801) 969-8989 or contact us via the link on this page.
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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
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