Salt Lake City Real Estate Tips, Market Updates and

Local Happenings

By Real Estate Expert KathyOHomes

Now is a terrific time to buy your first home or move up to a bigger home in Utah.  Interest rates remain at an all time low and there is quite a selection of homes available…6,819 homes for sale in Salt Lake County alone.

First time home buyers have a unique opportunity for a limited time to purchase their first Salt Lake City home.  There is local down payment assistance money available for those that qualify for a limited time only…until the funds run out.   With housing prices coming down and sellers becoming more negotiable now is an excellent time to shop for your own home.   This funding applies to condominiums also increasing your options to find the right home for you.  Call me for further information on this: 801-518-4599

If you have been thinking of moving into a larger or nicer home this is also a perfect time for you especially if your current home would list for under $300,000.  This is true for the following reasons:

1.       Homes priced under $300,000 are what’s selling in the Salt Lake market. 

2.       Homes priced over $300,000 are selling slowly making the sellers more negotiable giving you more leverage.

3.       There is a huge selection of homes in the market giving you the opportunity to find the perfect home for you.

4.       Although you may not make the money on your current home as you would like, you will gain by buying into a home that is much lower priced than it was 1-2 years ago.  As an example, if you make 3% less on your $300,000 home ($9000), you will likely be paying at least 3% less on a $450,000 home (13,500), a $4500 gain.

Below is a snapshot of current home sales year to date in the Salt Lake County Market: