About Weber County, UT

* 23% of the current single family home MLS listings are under contract
* None of those listings under contract are "short sales"
* At least 1/3 of the listings under contract are vacant
* The median price of the listings under contract is $236,450
* The median price of active listings is $267,500
* There is a 13.1% disparity between what sellers want to sell their homes for and what buyers are ready, willing and able to pay for a home

Source: Wasatch Front Regional Multiple Listing Service

* Only 19% of the current single family home MLS listings are under contract
* 11% of those listings under contract are "short sales"
* At least 28% of the listings under contract are vacant
* The median price of the listings under contract is $169,500
* The median price of active listings is $170,000
* There is an less than 1% disparity between what sellers want to sell their homes for and what buyers are ready, willing and able to pay for a home (see below)

Source: Wasatch Front Regional Multiple Listing Service

The lack of disparity between the median active and under contract list prices is interesting in that there are still 10 months of inventory on the market in Roy. This area of Weber County has always weathered the ups and downs in normal real estate cycles here locally, including those times when our largest employer, Hill AFB, has experienced reductions in force, loss of defense contracts and even a BRAC threat or two. Does anyone have any insight they can share with me to pass on to my seller-clients in this community? Thanks in advance ...

* Only 17% of the current single family home MLS listings are under contract
* 10% of those listings under contract are "short sales"
* At least 28% of the listings under contract are vacant
* The median price of the listings under contract is $159,000
* The median price of active listings is $186,500
* There is an 17.3% disparity between what sellers want to sell their homes for and what buyers are ready, willing and able to pay for a home

Source: Wasatch Front Regional Multiple Listing Service

* Only 19% of the current single family home MLS listings are under contract
* 8% of those listings under contract are "short sales"
* At least 36% of the listings under contract are vacant
* The median price of the listings under contract is $123,500
* The median price of active listings is $139,900
* There is an 13.3% disparity between what sellers want to sell their homes for and what buyers are ready, willing and able to pay for a home

Source: Wasatch Front Regional Multiple Listing Service

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.

_______________________________________________________________________________________________________________________________________

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!