The scoop on the 2018 housing market.
Another strong year is expected in home sales, especially here in Wasatch County. A majority of buyers are still moving in from out-of-state but, many are still trickling up from the lower valleys (Salt Lake, Provo). These buyers are typically very savvy on the area and with home prices. They want to maximize their time during their home hunting visits seeing as many homes as possible. This means that "for sale by owners" may be missing the boat since Realtors can fill their schedules with the homes that are currently listed.
There are several new developments in the area that should hit their stride this spring bringing extra competition to existing home sales. Existing home sellers will need to be well versed and well represented in marketing your home. You need to make sure your homes "stick out" as a "dream home" to potential buyers. A strong marketing company that can expose your home nationally will usually be most effective. Selling is a numbers game, meaning, the more interested buyers who see your home, the better chances of getting what you need out of your home. Resources for what your home is worth and how to prepare your home for sale, can be quickly provided by clicking here.
If we do end up following the national trends (we tend to lag at least a year behind) there is potential for a slight cooling in the market. This is mainly due to interest rates increasing (again this week) and expected higher levels of inventory. This inventory typically builds during spring time and peaks during early mid-summer. This means now might be the best time to get your home ready to sale to beat the onslaught of listings that will inevitably come.