If you have thought about selling and or buying a home lately winter can be a good time in our Wasatch Front area to follow your dream! If you decide to sell or purchase a home now it is likely that you will actually close after the holidays since a normal processing time for the transaction is about 35 days. It could be done a little faster but no one says it has to be any quicker! If you are a buyer there will be less people looking right now due to the holidays, time constraints and cold weather. If you are a seller chances are that only truly ready buyers will be looking at this time.
Wasatch Front Market Is Strong
Both locally and nationally prices of homes are predicted to continue rising in 2018. It could be better to get things going ASAP if you are a buyer or seller. Markets run in cycles and you always hear worries of; has the market topped? Not yet apparently! Starter homes and trade up homes ( priced under $450,000) are still selling quickly in our market if they are priced right at market. Today’s buyers are smart and have done their research. No one will pay what they feel is too much on an overpriced home. Luxury homes are more of a buyer’s market since there is a higher inventory of those homes in our market and less buyers. In this price range sellers will likely have to come off of what their home may be really worth.
Good Mortgage Home Loans Available
A great local lender Ginger Peel Bank of Utah, sent us this information this morning:
“Great news for homebuyers, FNMA & FHLMC have increased their loan limits in 2018 from $424,100 to $453,100.
We also should be receiving another Grant package for our HomeStart Grant, to help borrowers with $5,000 towards their down payment and/or closing costs.”
We can Help You Understand the Process
The market is still strong here in the Wasatch Front. Don’t let buying or selling a home be overwhelming. We can give you simple, precise,correct information! Please call us if you want to get started in the real estate process or have any questions about real estate.
Teresa Larson Village Real Estate, Murray UT
20+ years real estate experience