Provo/Salt Lake Market

[Taylor Wade Wirthlin]

I am looking to buy my first deal in the Provo area, but the market is so hot right now! I worry that the demand may slow and the market will level off or potentially crash. My Utah Valley people what do you suggest? Should I keep looking for a deal here or should I look in other markets to avoid the high purchases prices and competition?

[Blair Poelman]

I live in Provo, it's a rad place to live, but it's been years since I've been able to buy something in this town for a reasonable investor price that I would be able to make a margin on.  I'm priced out right now, as are most other folk unless they are big guys with lots of cash, and most of those guys are developers or builders doing apartments or condos/ townhomes in Vineyard or out west.

For the most part, buyers are paying 97-102% of ask prices.  But these are typically residential owner-occupied properties.  There is very little inventory  in the price range where it would somewhat/kinda/sorta make sense for an investor to be.  Pretty stiff competition here in the UC (it's pretty much always been that way) because this is an awesome place to live / work / play -  so I don't see this market crashing as hard as the rest of the world, but it will crash, someday, mark my words.