Thursday, August 13, 2020 / by Elissa Tran
As we have seen the state shut down and ro-open the past few months we are seeing an increase in COVID-19 cases here in Utah. Let's take a look at what we are seeing in the Salt Lake County market and how homes sales are being impacted.
Here is some data to show what we are seeing. The following reports show you where we were last year and where we are this year.
When we review from the beginning of March (start of the pandemic shutdown here in Utah) you see a steady increase in active listings until the middle of April, then you see that number head downward. You can see compared to last year, that downward trend cut our active listings by almost half this same time last year widening the gap from the number of active listings the same time last year.
The under contracts are continuing to increase compared to last year when you combine it with the graph above you can see this create ...
Monday, August 10, 2020 / by Elissa Tran
Use this August Home Maintenance and Safety Checklist and take preemptive measures to maintain the integrity of your home and to help protect your family.
You love your family and your home – protect both and you’ll enjoy a beautiful space for years to come with your loved ones.
EASY AUGUST HOME MAINTENANCE AND SAFETY CHECKLIST
1. DEEP CLEAN CARPETS
With the warm weather now is a good time to give your carpets a good cleaning so they'll dry quicker.
Keep your windows open, let the warm breeze flow through your home and freshen your carpets. Clean, fresh carpets are a great way to get ready for the next season, fall.
2. MAKE SURE YOU HAVE SEVERAL NEIGHBORS' CONTACT INFO IN CASE OF EMERGENCIES
Be sure you have several of your neighbors' contact information in case of emergenc ...
Monday, August 10, 2020 / by Elissa Tran
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs.
According to George Ratiu, Senior Economist for realtor.com:
"The ability to work remotely is expanding home shoppers' geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term…Although it's too early to tell what long-term impact the COVID-era of remote work will have on housing, it's clear that the pandemic is shaping how people ...
Wednesday, August 5, 2020 / by Elissa Tran
The housing market is forecasted to finish the year with growing strength.
Historically low mortgage rates are creating great potential for homebuyers, and home sales are on the rise.
If you’re thinking of buying or selling a home this year, let’s connect to maximize your opportunity today.
Wednesday, July 15, 2020 / by Elissa Tran
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):
What does this mean for buyers?
This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac:
“The summer is heating up as record low mortgage rates continue to spur homebuyer demand.”
In addition, move.com notes:
“Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com® monthly traffic hit an all-time high of 86 million unique users in June 2020, breaking May's record of 85 million unique users. Realtor.com®  ...