The price is right: Tips for setting a list price

Northern Wasatch Association of Realtors Advice

When putting a home up for sale, one of the most important tasks is making sure the price is right. Set the price too low and you risk losing thousands of dollars. Price your home too high and it could languish on the market. That’s problematic since homes with the biggest discounts typically are the ones that stay on the market longest, according to Realtor.com. It’s also important to get pricing right so you don’t miss out on potential buyers who are looking in price ranges close to yours. To navigate the dangers of over- and underpricing, here are five tips to help you get it right: 1. Don’t set the price based on what you paid Over the past …

Have a Heart Homes Helps Address the Crises in Affordable Housing

Northern Wasatch Association of Realtors Advice

Readers of this column and those of you who have been following other numerous media reports over the past few months know that there is a critical shortage of affordable housing in northern Utah. In fact, one recent report shows that Utah has a need for 43,000 affordable housing units, posing an almost insurmountable challenge. And while the affordable housing crises is especially acute right now, your local Realtors and Home Builders have been addressing the situation since 1998 with our Have a Heart Homes non-profit foundation. Nearly every year, Realtors and Home Builders in Northern Utah have secured an affordable lot, engaged a home builder, and raised funds to help offset the costs of construction. The general contractor and …

Navigating the Housing Shortage

Northern Wasatch Association of Realtors Advice, Update

Utah is one of the fastest-growing states in the nation. While that’s great news, it also means it’s a challenge for the supply of homes to keep up with the demand. There’s a housing shortage, and affordability is a big concern for those wanting to buy. A recent Associated Press study analyzed five years of data and found there’s a growing shortage of affordable housing in the Beehive State. Utah has reached the 3 million population mark and has one of the best economies in the nation, yet that growth has pushed up prices and limited the number of homes for sale. There was a five-year decline in housing inventory between 2012 and 2017. In Salt Lake City, the drop …

Tips for Winning in a Seller’s Market

Northern Wasatch Association of Realtors Advice, Update

If you’ve been shopping for a home, you know it’s a seller’s market. Home prices are rising, the number of houses for sale is declining and properties are selling very quickly. In Weber County, the median sales price increased substantially in February — up 19 percent from last year to $200,000. In Davis County, prices rose 11 percent — an increase of nearly $25,000 from the median in 2016. The same conditions prevailed in Morgan County where prices were up and buyers had fewer housing choices. The current environment is the result of a housing shortage. In fact, the Kem Gardner Policy Institute at the University of Utah finds the number of new Utah households is now growing faster than …

Study: Ogden Tops Utah for Housing Affordability

Northern Wasatch Association of Realtors Advice

If you’ve been struggling to find an affordable home, consider house-hunting in Northern Utah. Recently, the National Association of Home Builders (NAHB) named Ogden-Clearfield as Utah’s most affordable metro area for buying a home. The Ogden-Clearfield metro, which includes Box Elder, Davis, Morgan and Weber counties, also ranked fourth-best regionally and No. 37 nationally among more than 200 metro areas studied. Even with some price increases, nearly 84 percent of new and existing homes sold between October and December were affordable to families making the area income of $73,000. That’s according to NAHB’s fourth quarter 2016 Housing Opportunity Index. In Utah’s other metro areas, affordability isn’t quite as favorable but still outperforms the U.S. average. In Salt Lake, about 71 …