Market Source Snap Shot

Recently with the mortgage mess we have noticed an increasing amount of sellers offering seller finance. Last year in the state of Utah there were about 70 total sellers offering the option. Now there are over 700 for the state, and almost 250 for Salt Lake County. Many Realtors are not familiar with how to put these deals together. Fortunatly not only do we know how to do it, we have actually done it. I am creating a new web site dedicated to seller finance deals called www.petrhino.com. It is in the works and is pretty ruff right now, but more info is sure to come soon.

Jeremy

Many people ask me if I think that values are going up or down in Utah.  That is a difficult question to answer. First of all it depends on where you live. Some areas are still strong and others are slowing down. One thing to keep in mind is that we are moving into our "slow" season. Homes typically take longer to sell between October and February. Currently in Salt Lake county there are 7725 listings on the market. 2775 of those have been added in the past 30 days. In the past 30 days only 775 listings have sold. What this means is that we are ruffly selling 10% of our inventory monthly and adding about 25% monthly. The 3rd quarter showed a still strong appreciation across the valley. I think that it will be interesting to see the Q4 reports. If you would like more specific info on your property or area you are looking please email me at jeremy@saltlakeopenhouse.com

Jeremy Higginson

Owner/ Market Source Real Estate

and Zeal Mortgage