South Ogden, UT

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.

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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

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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!

The home prices in South Ogden have been averaging $176,959 for the last 30 days. In the South Ogden area there have been 23 homes sold in the last 30 days. They have ranged in price from $41,000 to $408,300 with an average of 93 days to get sold. Homes under $250,000 are moving at a rate of 65 days on the market compared to homes over $250,000 that are taking an average of 65 days to sell. At the time of this report there were 163 homes for sale in South Ogden. There is 7.09 months worth of inventory available in South Ogden making it a slight buyers market, but not like it was when there was a year's worth of inventory.

For more information visit my web site at www.jimmcewen.com or give me a call at 801-686-5550

If you are looking for a home try our free web site. http://www.FindYourUtahHome.com

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.

We are seeing the risk indictor move from High to Medium range. This still is NOT a good time for those with low and/or no risk tolerance to purchase.

A strong case can be made that those who are looking for a home for their family with plans to stay long term. Why not buy now? Especially if the numbers make sense, i.e. Owning vs. Renting. Even, if the market retracts more (which is extremely likely) in the future. Between the coming market bounce and future normal cycle of appreciation, buying now might make sense. Why not make an informed buying or waiting decision?

High and medium risk tolerant buyers are making buying decisions at this time.

Those waiting for a market bottom confirmation will (almost always) miss the bottom. This is because confirming factors are lagging indicators. Thus making it extremely (if not impossible) difficult to time any market bottom, in combination with the majority of home buyers afraid to purchase at this time. I believe we will see an un-preceded pent up demand at the market bottom that will cause a bounce in home prices.

Data considered accurate... However is NOT Guaranteed. Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date data.

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.

On a year over year, YTD comparison currently (23.82) % of new listings are being sold.

SUMMARY

Currently we are not seeing the needed positive price action (along with other indictors) to confirm a market bottom. This is NOT a good time for conservative buyers to purchase. High risk tolerant investors and speculators are doing some bottom fishing.

For more details or just to chat about market conditions please feel free to contact me.

Data considered accurate... However is NOT Guaranteed. Contact your Local Realtor for the most up-to-date data.

There are as of 10 May 2008, 96 active single family homes on the market with another 29 homes under contract for a total of 125. By calculating what percentage of that total the 29 homes under contract are you know if South Ogden is a buyers or a sellers market.

29 divided by 125 = 23%.

If the % is under 25 percent then it is a buyers market. If it's over 25% then it's a sellers market.

So South Ogden, UT is currently experiencing a buyer's market.

To find out more about market conditions in Utah just give me a call at 801-540-3825