Utah's Outlook is Marvelous

According to the 2018 Prosperity Now Scorecard, Utah earned the number 7 spot for the most desirable state for home ownership.

All 50 states and the District of Columbia are included in this study.

- Average annual pay is found by including all workers covered by unemployment insurance and adjusted by state for cost of living. The Utah average is $46,655 and the national average is $53,621.

- Households with a savings account - 88.1% of Utahans have a savings account. The national average is 70.8%

-Home ownership rate is calculated by the percent of occupied housing units that are owner occupied. The Utah average is 69.9% and the national average is 63.1%.

- Emergency savings - 71% of Utahans stated they set aside some money for emergencies. The national average is 56%.

-Foreclosure rate is calculated by how many loans are in foreclosure. Utah's rate is .43%, the second lowest in nation.

-The delinquent mortgage loans result is the percentage of mortgage loan payments 90 days or more past due. The national average is 1.2% and Utah is at .68%.

- Affordability of homes is found by dividing the median housing value by the median family income. Utah ranks 33rd.

-Prosperity of residents - This number is the cumulative result of the study - the scorecard. It takes into account Financial assets and income, Businesses and jobs, Home ownership and housing, Healthcare, and Education. 

Of the 3,051,147 Utah residents and 943,147 households in Utah, 30.2% of them are under 18 years old and 10.5% are 65 and over.

I enjoy seeing statistics like these and thinking about the real estate market not only in the state but in our valley as well.

There is a strong, solid, housing market statewide and especially in the Heber Valley. This means that if you currently own a home, you're in a sweet spot because it's value is increasing. Your equity is increasing and your resale value is as well. If you are planning on being a homeowner but currently are not, this means the sooner you buy in, the better. 

As Utah's business and job market continues to increase, as well as the state's exceptional educational opportunities, more people will be drawn to move into the state. With those moving in and those that were raised here stay as adults to live, work, and raise families, we will continue to see Utah come out on top of these kinds of studies as a desirable place to be. Take a look at the study, it really is very interesting with much more information than what I just shared with you.

I enjoy helping families find a place to call their own. Let me know if you would like my help. Call or text 801 631-3430.

Brought to you by Heath @ HeathsHomes.com

Are you ready to sell?

Have you asked yourself the question - What do I absolutely, bare bones, need to fix before I sell my house?

Here are the basics, hopefully it's not as daunting as you think!

1. patch holes and cracks in the wall

2. fix all broken appliances

3. leaky faucets

4. repaint any marred walls

5. replace any broken windows

6. repair any roof issues

then.... for a bonus,

change any outdated light fixtures

Now you are ready to call your realtor, sign a few papers and get some pictures taken of your spiffy house. I would be happy to help. My sign would look great in your front yard and I will do my best to keep you the best informed seller and get you the best buyer for your house. 801 631-3430

P.S. You might also be interested in going the extra mile and doing some remodeling or improvements that will make your home more desirable to potential buyers. Take a look at these blog posts to get your efforts going in the right direction. Click here and here, but this one is my favorite.

Brought to you by Heath @ HeathsHomes.com

Heber City's Updated Quarterly Home Sales Graph

The Wasatch Front Regional MLS collects data and compiles quarterly home sales graphs. This graph was just published at the first of July, therefore it includes June's information that ends the second quarter of 2017.

The blue line is the median sold price in $.

The black line is the total number of homes sold.

The green line is the total number of homes listed.

This graph is for the last 5 years in Heber City and Charleston. It does not include Midway.

As you look at the graph, you can make many conclusions about how the real estate market has performed in Heber City and Charleston. You can see the seasonal real estate trends that are common in the United States with the majority of homes being listed in the 2nd quarter and the least amount being listed in the 4th quarter. The increase in home prices over the past 5 years is evident as well as the increase in the number of homes sold since 2012. There is all kinds of information you can conclude from this graph.

I like to keep my clients informed about the real estate market's overall health and make you the best informed seller or buyer. If you have any questions about this graph, the value of your own home, or if you are thinking about another home, I'd love to help.

Give me a call at 801-631-3430

Brought to you by Heath Harvey @ HeathsHomes.com

What YOU need to know if you are considering buying or selling your home in the next 4 months.

In the May 2017 issue of the Salt Lake Realtor Magazine, an article was published with an eye catching title, 'The Strongest Seller's Market Ever.' So I had to read it.

The article points out what we have personally witnessed here in Wasatch County - fewer listings and a lag in new home construction. This combo makes for a robust sellers market, and this means home prices are up. Sellers are getting multiple offers in on their homes that are at or near listing price. This is great news for those wanting to sell their home but a bit rough for most first time home buyers.
The current situation puts potential home buyers that are not using a real estate agent at a severe disadvantage, as well as those that are selling their homes by themselves. For those that are not familiar with the home buying or selling process, which includes most people, the process can be taxing and stressful, as well as possibly short cutting themselves financially.
The knowledge a successful real agent possesses concerning tight deadlines, correctly filling out contracts, appropriate pricing, disclosures, inspections, earnest money, warranties and a handful of other issues, will probably be the difference between someone buying the house of their dreams for the best price or losing it to another buyer. Likewise, it might be the difference in selling a home for the best price and under the best circumstances rather than losing buyers because of inexperience or selling it under what it is truly worth.

Troy Peterson, the president of the Salt Lake Board of Realtors, is the one who was quoted saying "This is the strongest seller's market ever." He was referring to the state of Utah and his comments noted that competition is fierce for homes priced under $500,000 right now. We see that truth in Wasatch County. If you need any real estate advice, recommendation, consultation, or instruction, please feel free to let me help you. I love being a real estate agent. I love working with people to help them find their own little piece of happiness in our beautiful valley. I love the process of buying and selling homes, and I am great at it. 801-631-3430

Brought to you by Heath Harvey @ HeathsHomes.com