Even with the Nation Stabilizing Some Cities Demonstrate Above Average Growth
There are signs of real-estate market growth all over the nation. In most cities these signs of recovery are small, but the signs in some cities are significantly greater. One of the major indicators of a growing market is the number of building permits that have been procured. Business Week Identifies "America's Strongest Building Markets." The top three cities in the United States have actually seen more building permits this year than last year. Why are these cities starting to re-grow faster than others in the nation?
The city with the greatest increase in the nation is Lake Charles, Louisiana. There has been a 122% INCREASE in building permits from last year! What is the secret to their growth? The destruction of Hurricane Ike and Hurricane Rita. With the destruction from the 2005 and 2008 hurricanes, their efforts to rebuild have kept the market stimulated with new life. The city with the second largest growth can also attribute some of its success to Hurricane Ike. After last year's Hurricane destroyed parts of the city, Beaumont-Port Arthur, Texas has seen an increase in building permits of 65%.
What about the city with the third highest growth in the nation? Can it point to rebuilding as the source of its real-estate growth? Salt Lake City, Utah has seen a rise of 36.6% in building permits over last year. Business Week attributes Salt Lake City’s success to “generous Housing & Urban Development financing”. Access to grants and other incentives have kept the market for new homes alive and even helped the market surpass that of last year.
If you have been waiting for things to get better, then your wait is over! There are still some incentives available to make this the best time to buy, but these will not last much longer. Keep the Salt Lake City spirit of growth alive and use the incentives available to purchase your new home.
Top Places to Buy/Sell a Home in Utah this October!
Mortgage rates are still low and time is quickly running out for Government incentives. The market is hot, but where are the hottest areas? The best places to buy/sell are those that have been seeing more demand recently than other areas. Based on where homes were selling last month we have an idea of where home sales are going to be the hottest this month!
Those living in these hot spots can get top dollar for their house and get a great deal on another home! These Hot Spots are also prime locations to buy because you can count on a stable home value and being able to sell if you ever need to.
1. Salt Lake City Zip 84108 Price Range: $100K - $200K Sales History Current Homes for Sale
2. Salt Lake City Zip 84109 Price Range: $200K - $250K Sales History Current Homes for Sale
3. Salt Lake City Zip 84105 Price Range: $200K - $350K Sales History Current Homes for Sale
4. Salt Lake City Zip 84111 Price Range: $100K – $200K Sales History Current Homes for Sale
5. Salt Lake City Zip 84105 Price Range: $250K - $300K Sales History Current Homes for Sale
To View the History for all Zip codes and price ranges Click Here
Last August I was predicting that January of 2009 would be the worst month for home sales that we have ever seen. It was.
People kept asking when the bottom was going to be, but it contintued to elude us, things kept going down. So where is the bottom for home sales? It looks like it was January of 2009. Looking back at the statistics for this year you can see that home sales bottomed out in January. There were even 2 months where Salt Lake experienced an increase in homes sold compared with the year before. If Salt Lake were to maintain 1,000 home sales for the next 3 months, this year will be almost identical to 2008 in the total number of homes sold. That would show a true bottom in home sales. (Not necessarily prices, this requires a switch in supply and demand. Meaning demand is lower than last year and there is potentially a larger supply that still hasn't hit the market.)
Right now we are expecting an increase in the number of homes sold from last October by at least 10%. If we keep this trend, ceteris paribus, then it truly looks like we have hit the bottom in home sales. This means, opportunity, opportunity, opportunity. Enjoy the opportunity!
What would you have done in 2006?
"The market is hot!" In 2006 this is what many builders were telling anyone who had a good credit score. "I just built a home, turned around and sold it and the buyer made $100,000." Every person with a decent credit score wanted to make money just as easily! It is important to remain 'wise' amidst such 'hype'.
Investor "Wise" -vs- Investor "Hype": A Tale of Two Investors
Back in 2006 investor "Wise" called me on the phone asking for advice. "Dave, I'm thinking of building a home. I put money down with a builder and was told I can make a ton of money. Do you think it is a good idea?" In response I asked him 2 questions:
Question #1 - Median price range
Investor "wise" mentioned that the cost of the home was in the high $600s. I asked question #1: Are you buying in the median price range? "The high $600s obviously isn't in the meridian price range, but why does that matter?" The median price range is where you are safer buying a home. When demand starts to go down it hurts more in the upper price ranges, but there are always buyers in the median price range. If you are buying a home twice the median price range you are now the biggest home in the neighborhood which means what? He thought about it, "My property values can go down a lot more?" Exactly!
Question #2 - Ownership, Location, Supply
I asked question #2 "How many owner occupants live in the neighborhood?" He continued to tell me that the builder was doing the same thing with a whole bunch of investors in the neighborhood. There is a danger of having so many investment properties in the neighborhood because this inflates the supply. What happens when demand goes down and supply is high? Your home is for sale with every other investor in the neighborhood. He suddenly understood, "So I'd be stuck with a house I wouldn't be able to sell." Exactly.
So what did Investor "Wise" do? He backed out and lost the money he had already put down with the builder. In losing a couple thousand dollars he saved the hundreds of thosands of dollars the other investors in that neighborhood are losing today....not to mention his credit as well.
Investor "Hype"
Investor "Hype" called me and explained the same situation as Investor "Wise". Investor "Hype" said, "The builder has everything ready to roll and the home could be done in 6 months with money in my pocket. They have buyers ready and everything is set up!" In response I asked the same 2 questions: Are you buying in the median price range? and How many owner occupants live in the neighborhood? Investor "Hype" seemed to understand: "Ohhhh," he said, "so you're suggesting that since the price range is twice the median price range, and because every home in this neighborhood includes investors trying to flip the new home, it is a high risk to buy the home."
A year after hanging up that phone Investor "Hype" called me again. I could hear the embarassment in his voice as he once again asked for my help. "You know that home that you said was a bad idea to build....well, I did it anyway... can you help me get out of it?"
Many Investor "Hype"s existed then and still exist today. Because people make things sound so easy and so good, people fail to recognize the risk inherent in investing. Just as builder in 2006 were saying "Land and homes are a risk-free investment" and "Your money is safe here" there are many sales people preying upon the investor "hype"s out there. Be wary of hype! Remember to always assess your risk. 2006 was a huge money making year for builders and investors. 2008 was the year they lost everything they had: their businesses, their cars, their homes, and the strain caused some to even lose their relationships. When you take on risk, it is more than just your credit score that is on the line. There are always unintended and unforseen consequences.
Making money in real estate
If you want to invest in Real Estate remember to assess the risks, and invest wisely. Seasoning and adding value are the two ways to make money in Real Estate. You must own something for a space of time. This is why rentals are great ways to invest. Someone else makes your payments and over time you accumulate wealth. There are still risks here, but the number one rule in making money in real estate is that it takes time.
The second way to make money is to add value. In 2006, when people bought a home and resold it a month later for $20,000, they were not adding value. As we saw, this can not last forever. For example, a foreclosed home that had been torn apart could be fixed up and resold looking like a new home. This is a great value added sale because most people could not have afforded to fix it up themselves.
If you are looking into making money in real estate remember to ask the right questions to assess the risks and always keep in mind the 2 ways to make money: Seasoning and add value.
Sandy city has rolled out a home-buying incentive program!
Sandy city has created a new program that will provide low- and moderate-income home buyers with $5,000 for buying a new home in the city. These funds, which can be applied to the down payment and/or closing costs, are actually interest-free loans. After staying in the home for three years, the loan becomes a grant and does not need to be repaid.
Sandy plans to provide 10 loans to buyers of existing, never-occupied homes, and another 10 to buyers who would like to build their home. To qualify for the grant the purchased home needs to be within Sandy city limits, and must be a "single-fmaily" dwelling (this includes townhomes and condos). Also, the purchase prices cannot exceed $305,000 and household incomes must be below certain limits to qualify. This grant is not only for first-time buyers, ANYONE who qualifies has access to this money.
If the program is successful additional grants may become available after the original 20 are gone. However, the only guarantee is for the first 20 grants! Contact a Utah Dave Grant Specialist to see if you qualify for one of these grants so you can take advantage of this great opportunity.
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Specializes in Building High Producing Real Estate Sales Teams. This 3 Secret and 7 Step process generated over $37 million in sales a year. Dave coaches and sells real estate in Salt Lake City, Ut.
Buying or Selling a Home? Utah Dave specializes in assisting people buy and sell residential homes in the Salt Lake Area. If he doesnt specialize in it, he knows someone that does! (Thats why his friends nicknamed him Utah Dave.) The All the Right Steps Experience walks buyers and sellers through the 3 secrets and 7 step process in buying or selling a home.
Assisted owners/employees/professors/executives working for top industry corporations and organizations such as Novell, LanDesk, Utah Jazz, 3M, IKON, Costco, Biovail, Cadence, Delta, SkyWest, Boeing, Continental, eBay, Les Scwaab, Intel, Micron, IM Flash Technologies, Progressive, American Family Insurance, Red Lion, RC Willey, Jordan School District, Aflac, UPS, Kennecott, Dex, American Express, Black Diamond, Rumbi Island Grill, Educators Mutual, CR England Trucking, FAA Federal Aviation Agency, US Air Force, South Jordan Police Department, University of Utah, Brigham Young University, Marine Core, Army, Hill Air Force Base, Zions Bank, Merrill Lynch, Fidelty, Charles Schwab & Co., The Church of Jesus Christ of Latter Day Saints and more in relocation services and in purchasing or selling a home.
Also, provided analysis on REO (bank owned) properties, negotiated tenants to leave premises, prepared home for sale, and listed and negotiated the sale of the REO property.
Recently rated as #1 in the Salt Lake Valley for number of homes sold by Enterprise Newspaper in Sept of 2007. Dave's steps in helping people buy and sell homes enabled him to gratefully have sold almost $40 Million in Real Estate last year. Also voted for Broker/Agent of the month by peers in 2007. Thanks for such great compliments from my clients and my peers. None of this could be accomplished with out you!
Striving to Build a Successful Real Estate Career? Dave also coaches real estate agents the 3 secrets and 7 steps to building a real estate team/career. These steps took one agent from 20k in commissions to $1 Million in just 3 years. This same process enabled one Rookie to sell appx 33 homes his first year for a total of approximately $10 Million in Real Estate sales.
Dave has been featured in CRS magazine as an agent who learned how to double his income by reducing his 80 hour weeks to 40 hour weeks while taking a month of vacation a year, not working nights or weekends. He also was recently spotlighted as Broker/Agent of the month by his peers in Salt Lake City.
Dave's focus is his mission statement: To continually strenthen ourselves and our relationships by passionately caring for others, proactively discovering hidden needs, and persistently exceeding expectations.
People Looking to Buy or Sell their Home across the Salt Lake Valley:
1. Relocation services for employees, executives and owners of large and small companies. Assisting with selling of current homes and purchasing new homes in the State of Utah. Strictly Residential Real Estate.
2. Assist First time homebuyers with $5,000 free grant money and ensuring their first home meets their needs while being a solid investment that creates equity so that they can transfer that equity and trade up their home in the coming years.
3. Assisting people with buying foreclosures, pre foreclosures, and/or Hud/Va homes. Sign up for a Free List of Forelcosures.
4. Helping people sell their home. Dave utilizes 3 secrets and a 7 step process to selling homes. Find out what your home is worth here.
5. Assisting people with buying or selling in the largest planned community in the nation, Daybreak in South Jordan Utah.
Real Estate Agents who want to increase their sales, their value, their business, and their family time:
Coaching teams and agents through the 3 secrets of success with the 7 step process to achieve it. While just utilizing 1 secret, one Realtor went from 20k commissions a year to $1 Million in a year in just a 3 year time frame which was during the slow market.
Email Dave to apply to be one of the agents/teams that he coaches. Click the contact link above at the top of this profile.
"Dave has been an awesome coach and mentor to my real estate business. He has showed me that there is an easy and highly effective way to succeed in this extremely competitive industry. Under Dave tutelage, I have been able to hone my skills in having client care at a 100% positive satisfaction level, and have learn to become a market expert in certain farm areas. I have lots of respect for the Utah Dave Team, and am excited for what we have planned for the future." "Dave represented himself as an expert in his industry and he was accurate! He provided me insight into the value and appeal of my home, and an honest valuation of my home. He helped me sell my home quickly and for the price that I needed! I was driven to him through a referral and the exposure Dave gives himself in the community through various events and activities, as well as effective marketing! Thanks again Dave!" Top qualities: Great Results, Expert, Creative "How can you sum up Dave Robison? He is a proven leader, but is open to ideas from the group. The passion that he shows through his work and inspires in his colleagues is unsurpassed. Through my work with Dave over the past few years, I have seen him grow the business and continually find ways to make our processes more efficient and beneficial to our clients. With Dave Robison in the team, we will change the way the real estate industry is run across the country." December 5, 2007 "Dave provides a value-added experience for his clients through unmatched personal service and great results. He understands the real estate market and works directly with his agents to ensure the satisfaction of his customers. Dave will go above and beyond to help you market your home or find the perfect property. He is also the most fun agent you will find. Just ask..I recommend him to all of my friends (and neighbors)." Top qualities: Personable, Expert, High Integrity "My relationship with Dave started several years ago when he helped me buy my first home. After we purchased a home, Dave continued to be a friend. Now I work with Dave everyday and I still consider him a friend first. I've seen Dave carry on this relationship with countless "clients"...friends. I recommend Utah Dave because he's happy, smart, professional, a good dancer, and he's a friend." "Dave is highly experience and is always looking out for his clients. He is the perfect mix between personable and professional. He shows he cares by taking the time to make sure to understand what his clients are looking for and works hard to help them obtain the home they want. His negotiating skills make him head and shoulders above the competition. Its always a great experience working with Dave!" "In an industry laced with stagnant ideas and practices, Dave's ingenutiy provides a service unparalleled to company's I have worked with in the past. His postive and unclouded approach to business and life helps those in his large sphere of influence to improve their practices, including myself." "I have had the great opportunity of working with Dave in the last several years. I have both sold and bought a house through Robison & Company Real Estate. One of the things I found most impressive was the quick turn around when I left a message for him. For as long as I have known Dave, he has always been a very straight forward, honest and trustworthy man. I would recommend him hands down for anyone's real estate needs." Top qualities: Great Results, Personable, High Integrity ·"The Utah Dave team is a great group of people to work with. They make the Buying and Selling process easier for everyone involved. I have found that the Utah Dave team communicates very well with the parties involved in each transaction. If I have need of information to complete my part of the transaction there is always someone that I can talk to, whether it's the Agent themselves or their Transaction Coordinator. They always seem to have the information needed or will get back to me promptly with the information I request. With the Utah Dave team I see that it isn't always about the bottom line it is about making the customers experience better. I am amazed at how fast they can get something sold. I feel the reason is they are not afraid to spend money on marketing and they seem to market their listings much better than many Real Estate Companies. David Robison the Broker for Robison & Company is not afraid to tackle a difficult situation in behalf of their client when they are being unjustly dealt with. Either with the agent or buyer /seller on the other side. He is knowledgeable and abreast of changes in the laws that may govern Real Estate. Because of their Friendliness, their ability to communicate effectively and timely, the marketing tools at their disposal, and their knowledge, their clients get more for their money, sell their home faster and will have fewer headaches or problems with getting their home sold or bought." Sincerely Yours
In my observation each Agent becomes a friend to each of their clients which make the process much more enjoyable. The agents put their clients needs ahead of just closing the deal. They truly care about their clients.
Shane Liedtke - Meridian Title Company
My wife and I were married 8 years ago and met Dave Robison after buying a small starter home in Midvale, Utah. Initially, we were impressed with Dave's positive outlook and vibrance for life. It didn't take long for us to also recognize his strength of character and integrity in everything he says and does. We knew he would be a long-time friend. When we made a decision to move a couple years later, it was a no-brainer for us to ask for Dave's expertise. In the last 6 years, we've moved 3 times and Dave has assisted us every step of the way.
Each of our moves have been motivated by the different phases in our life. On each occasion, Dave has taken the time to meet with us and discuss our individual goals in moving. And of course, on each occasion Dave has helped us hit the mark. He identifies our criteria, works dilligently to locate buyers and sellers that meet our goals and negotiates hard with our best interests in mind. Our last 2 sales have taken a total of 12 days (from the time of listing to our agreeing to the proposed terms from the buyers) and have yielded us 11% more than our original recommended sales price. Dave does it all, and then some. He is gracious, professional and follows up with us every step of the way.
His level of service and follow-through is beyond the norm and even the expected. We are confident in his abilities and would openly welcome any questions you may have. Regards, Quinn & Kellie Elzinga
As an owner of multiple homes and a real estate investor I have worked with many realtors over the years. I can say without question that Dave Robison is the best I have ever had the pleasure of working with. He and his team are timely and professional, and he is truly an expert in the Utah market."
Bill, Vice President of North American Sales at Landesk
Dave, we couldn't have asked for anybody better to assist us. By the way, with "hundred's" of co-workers moving down from Idaho to the SLC area, I have heard numerous times about the quality of your web-site. It sure was helpful to us."
Ross w/Micron
• "On a scale of 1 to 10 you and your team would be a 20. You met all the expectations and exceeded them."
Kal, -Previously listed unsuccessfully for 6 months
with another agent before listing with UtahDave.
• "Utah Dave sold my home in one month when every other home was taking 6 months. And to top that miracle off, he sold my home for top dollar!
NOT A SINGLE HOME SOLD HIGHER THAN MINE IN OVER 11 MONTHS! (Even during the boom)
Another Realtor even came over to look at our house while it was under contract trying to figure out how Utah Dave sold it so fast and why other Realtor's listings weren't selling."
Daiana Springer
• "I just wanted to say thank you for all your awesome help in getting us into this house. We are finally making it look like home and now it is starting to feel like home.Korbin is adjusting well and his favorite part of the whole house is the stairs. His toys are learning to fly and we're hoping he'll lose his fascination with them soon.
Our bamboo plant goes perfect in our new kitchen and our first breakfast was delicious. Thank you again for the gifts and all your help. We will definitely be sending referrals your way."
Thank you!
Jess, Brad & Korbin
•‘Dave is well connected when it comes to Utah real estate...might be missing something if you don't talk to him. We trust him completely and recommend all our friends and family his way. He helped us purchase our first two homes and will be the Realtor we partner with when/if we decide to move again. We trust him completely and recommend all our friends and family to Dave.'
Jason & Jenn Tripp - West Jordan, Utah
• Dave assisted my wife and me in purchasing our first home and the experience was great. We had previously tried working with another realtor but we felt like we were being pressured to buy houses that didn't fit our needs. With Dave it was different. He was very patient and showed us houses until we found the one we could call "home". Since then we have sold our first home and purchased another through Dave and his team. Each experience has been as good as the first. When working with Dave and his team I truly feel like I am working with a friend who is looking out for my family's best interest.
I highly recommend Dave and his team and regularly refer family and friends to them, because I know Utah Dave will not disappoint.
Chris & Kim Frankowski - Herriman Utah
•Our buyers specialist for Utah Dave was great! We had a lot of drama with trying to get financing and some with the sellers, but she was always our ally and making sure that everything was always getting done when it needed to be. She was always willing to meet us to go through houses and was always really prepared with paperwork, etc. Then, when we finally closed, we were able to save so much money by using the van that Dave provided us with! It was a huge lifesaver to be able to move our stuff for free! Everyone at their company was always very friendly and informative. I am a customer for life, or at least as long as I am in Utah and I will always refer them to anyone looking for a great agent!!
Lindsay Jenkins
• You guys did an excellent job with everything and we really appreciate it. Our Utah Dave Buyer's Agent, Matt Brown, was outstanding. We ran into some obstacles and he did a great job helping us overcome them. The next time we have to move, we will want Matt helping us again. Thanks again for all your help.
Jeff Foutz- West Jordan Utah
•As a young family looking to get into our first home, we sure appreciated "Utah Dave's" friendly expertise. At that time he was mostly working in Salt Lake County, but he patiently drove us around to show us homes in northern Davis County. We have been in our home for over 7 years now, and we are glad that Dave was willing to "go the extra mile" and help us get into the perfect home for our family. They don't call him Utah Dave for nothin!
Zack Brown
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