All Forum Posts by: Alan Walker

It also really comes down to inventory when you list.  Right now, inventory is so tight.  Especially in a desirable neighborhood like the Avenues.  DM me the address and I'll see what's for sale around it.  If you can get that price and all you have to do is junk it out and give it a deep clean, all the better.

Market of the Moment: Another week in paradise if you're a seller. Houses are going under contract even faster (as if that's even possible). We have lots of buyers that are snatching up houses. However, we still see price drops which means there is some pausing before taking any price a seller puts out there.

@Tanner Stoddard, almost all of my listings are going for above asking price. Anywhere from 10-20k over asking. I always strategically price my listings to get the most people in the home for showings and open houses. That strategy typically pushes the price up. 

Look at the difference in Actives from 2019 to this year. 2019 had 3,899 MORE LISTINGS than we do this year. That's why median home price is increasing.  Definitely a sellers market right now.

Market of the Moment: We had a small increase in inventory last week, celebrate the small victories! Our numbers are still all indicative of a seller's market with less supply than demand. Given our cultural shift around remote learning and working, it'll be interested to see if more listings happen this fall, with parents less concerned about distance to school and distance to work.

@Reed A., I belong to the three most popular Real Estate Investor Associations along the Wasatch front; Utah Valley REIA, Salt Lake REIA and Utah REIA. Consistently going to those meetings has helped me find hard money lenders, wholesalers, contractors, etc... Membership in each is about 150 per year and well worth it for the networking and education.

utahreia.org

slreia.com

uvreia.com

Just another reason I love real estate. This data was pulled directly from the Utah MLS. I included shots for all of Utah, Utah County, and Salt Lake County. I don't know where else you can get this kind of return on your money. Maybe Bitcoin? Lol.

Market of the Moment: Ending Q2, prices have risen 8% year over year. Homes sold have decreased by 16%. Lack of inventory is driving prices up. It's definitely a sellers market in this moment.

27Dean Ellis, King Johnnie J. Brakey and 25 others7 Comments

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As if we didn't already know how much wealth you can build in real estate.  Check out this appreciation in Salt Lake County Single Family Homes since 2015!