Selling in the Winter Attracts Serious Buyers

Selling in the Winter Attracts Serious Buyers | MyKCM

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.

It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest month for real estate. What is surprising, though, is that listing during the winter came in second!

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

The study goes on to say that:

“Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”  

Bottom Line

If you are debating listing your home for sale within the next 6 months, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this winter will ensure that you have the best exposure to the serious buyers who are out looking now!

The study used the astronomical seasons to determine which season the listing date fell into (Winter: Dec. 21 – Mar. 20; Spring: Mar. 21 – June 20; Summer: June 21 – Sept 21; Autumn: Sept 21 – Dec. 20).

Americans Believe Real Estate is Best Long-Term Investment

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.

Bankrate asked Americans to answer the following question:

“Which would be the best way to invest money you did not need for more than 10 years?”

Real Estate came in as the top choice with 25% of all respondents, while cash investments (such as savings accounts and CD’s) came in second with 23%. The chart below shows the full results:

Americans Believe Real Estate is Best Long-Term Investment | Simplifying The Market

Sterling White, co-founder of Holdfolio, gave one reason as to why real estate may have ranked so high.

“Houses are tangible. You can physically see and feel the product. So you know where your money is going.”

July’s poll also found that for the “26th consecutive month, Americans’ sense of financial well-being improved when taking into account debt, savings, net worth, job security, and overall financial situation.”

Bottom Line

There are several reasons, both financial and non-financial, as to why homeownership makes sense. It is nice to see that Americans have returned to a belief in homeownership as the best investment.

Ogden Valley Real Estate Outlook – April 2016

Homes For Sale near Snowbasin

Ogden Valley Real Estate Market – Positive Signs

Historically the 1st quarter in our Valley usually shows signs of an improving market after downturns of the 4th quarter. So these two positive signs are hopefully good news for the remainder of 2016:

  1. Single Family prices rose 13% year-to-date
  2. Number of Days on Market dropped slightly We’re also still seeing a balanced market with about a 5-month supply. All of the details are below.

 

For your free, no obligation equity analysis on your property, click hereWe have buyers who can’t find the right Ogden Valley property – call Joel to see if what you have might be what they want.

See What Your Neighbor’s House Sold For: www.UtahSoldHomePrices.com

.

Featured Valley Listing: Coming Soon – Call For Details (be the1st to know about it)

Single Family1st Quarter 2016Change vs. 4th Quarter 20151st Quarter 2015Last 12 Months Change
Available Inventory71 (4.9 mos)-17%98 (5.9 mos)-28%
Sold17-54%257%
Avg.Days on Market145-2%1323%
Median Sold Price$390,900-3%$354,20013%

To learn how our Ultimate 57-Point Marketing Plan is earning our sellers about 4% more and selling in ½ the time (compared to the average agent), click here or just give us a call.

This report is developed quarterly and is based on information from Wasatch Front Regional MLS for the period stated above.

Ogden Valley Real Estate Outlook – January 2016

Homes For Sale near Snowbasin

Interesting (to say the least)

Why “Interesting”? Historically, the 4th quarter is the slowest in our Valley. However, compared to the 3rd quarter of 2015, the number of sales rose over 50% while at the same time prices barely move at all. The time it took for houses to sell also increased. Year-over-year numbers show a very similar pattern. With the potential of interest rates rising in 2016, it will again be “interesting” to see how this impacts our Valley’s market.

For your free, no obligation equity analysis on your property, click hereWe have buyers who can’t find the right Ogden Valley property – call Joel to see if what you have might be what they want.

See What Your Neighbor’s House Sold For: www.UtahSoldHomePrices.com

.

Featured Valley Listing: Click the photo for details, more photos, aerial video and walking tour video

Lakeside Village Unit 17 For Sale

Single Family4th Quarter 2015Change vs. 3rd Quarter 20154th Quarter 2014Last 12 Months Change
Available Inventory86 (6.6 mos)-23%96 (6.7 mos)-10%
Sold3754%2321%
Avg.Days on Market148195%173-10%
Median Sold Price$404,700-1%$323,5000%

To learn how our Ultimate 57-Point Marketing Plan is earning our sellers about 4% more and selling in ½ the time (compared to the average agent), click here or just give us a call.

This report is developed quarterly and is based on information from Wasatch Front Regional MLS for the period stated above.

Ogden Valley Real Estate Outlook – October 2015

Homes For Sale near Snowbasin

Exciting Summer Growth

What an exciting summer! 13% price growth during the 3rd quarter (3% year-over year). Days on market also saw a big drop – so priced right, houses are selling faster. Surprisingly, inventory has remained very stable.

Still, this is not the Wasatch Front (which continued to see bigger growth). We seem to lag behind that market, so here’s hoping for continued growth over the next year for all of us in the Valley.

For your free, no obligation equity analysis on your property, click hereWe have buyers who can’t find the right Ogden Valley property – call Joel to see if what you have might be what they want.

See What Your Neighbor’s House Sold For: www.UtahSoldHomePrices.com

.

Featured Valley Listing: Click the photo for details, more photos, aerial video and walking tour video

4765E-3925N-Eden-Utah

Single Family3rd Quarter 2015Change vs. 2nd Quarter 20153rd Quarter 2014Last 12 Months Change
Available Inventory111 (5.2 mos)-2%1110%
Sold24-23%2817%
Avg.Days on Market50-73%11422%
Median Sold Price$410,50013%$350,4003%

To learn how our Ultimate 57-Point Marketing Plan is earning our sellers about 4% more and selling in ½ the time (compared to the average agent), click here or just give us a call.

This report is developed quarterly and is based on information from Wasatch Front Regional MLS for the period stated above.

Should I Sell My Utah Home in the Winter – January 2015 Utah Home Sales Data

This Week I Cover…

  • Sales data & trends heading for winter 2015
  • Signs that the 2015 winter is turning out big for sellers
  • What you can expect for the Spring 2015 selling season
  • “Should I sell my Utah Home in the Winter?”
  • Much more…

horizontalbluearrow

Want to know what your house is worth in today's market, find out now! Yes, it's free!

Video Transcript
Hey, it’s Joel Zieve from Keller Williams Success Realty and the Northern Utah Home Team. Happy New Year to you!
I’m going to jump right into it and show you what we see happening for the beginning of 2015 and see what we can guess for what’s going to happen in the spring. If you’re a seller you’re going to be really excited because of what I’m about to tell you! So get ready for a big winter market coming up and here’s why!
Ok, so I know there’s a lot of information on this graph so I just want to focus on a couple of key things here. Over the last couple months here the number of new listings and therefore the number of total listings have dropped dramatically. And as a result of that we’re seeing prices continue to rise up. That typically doesn’t happen all that often in the winter. But with less competition, fewer inventories, interest rates are still really low, we’re starting to see that the time on the market is starting to shorten or pretty much stay the same and prices are going up. So that’s the bottom line of things selling quickly. This is for, of course, for Weber and Davis counties. So let me show you one other thing here.
This graph shows year over year changes from 12 months ago. And what you’re going to see the same kinds of things here, the number of… Let me focus on this. This “100%” is your comparison, so anything over this is an increase from the exact same period last year at this time. Anything below it is less. So, take a look at the total listings. We’re down about 85% from where they were last time, this year. And it’s been dropping for quite some time. And because of that you’ll see prices are well over what they were last year at this time also. Number of new listings is down, total listings, price is going up, and the time on the market is also shortening. So all this is great news for sellers.
If you’re a buyer, it’s still good news for you because interest rates are just incredibly low and there’s been no better time to buy a home in recent history for sure! So, if you’re looking to buy or sell, most importantly if you’re looking to sell and you want to know specifically how this seller’s market is impacting you and your house value then give me a call. I’m happy to do a market analysis for you. Of course, there’s never a fee for that or an obligation to work with us.
I’ll put my contact information on back up here, and that’s your Market Update for January 2015! Happy New Year!

November 2014 Utah Home Sales Data – Should I Sell During the Winter?

This Week I Cover…

  • Sales data & trends heading into the 2014 holiday season
  • Signs that the 2014-2015 winter could be big for sellers
  • What you can expect for the rest of 2014
  • Should you sell during the winter?
  • Much more…

horizontalbluearrow

Want to know what your house is worth in today's market, find out now! Yes, it's free!

Video Transcript
Hey, everyone, it’s Joel Zieve with Keller Williams Realty and the Northern Utah Home Team. I just wanted to give you a quick market update to show you how things are headed, looking, heading into the holidays this time of year.
Okay, so I know there’s a lot here. So let’s just focus on the things that you’re probably most interested about. The first is history of list price. So I’ve got two years’ worth of data here, and the orange line is actually the sales price and what you see happening here. So in 2013, it spiked quite a bit, and then not quite the increase, but still an increase toward the end of the summer and in the fall for 2014, and how long are they taking to sell—that’s the accumulative day on market, and that’s the green line here, so that’s that trend. Months of inventory—months of inventory means that based on the number of offices that are currently for sale, how long would it take—how many months would it take based on how quickly they are selling to completely deplete the market. So you’ve heard some people talk about having a low inventory. That’s exactly what we’re in and headed toward right now which leads to increased prices, which is, of course, great for sellers, not so much for buyers.
Let me explain this one to you. This one is very interesting. This shows changes from year-over-year, and I have lined it up to match the top. So basically this is the 100% line. So for price, this shows the change in price compared to the same time 12 months prior, and what you’ve seen is a gradual increase with a little dip here when things sold off at the end of the summer, but prices continue to climb compared to where they were last year, and these are the most interesting things—the total listings have just been taking a nosedive. We’re now at 90% of this time last year, and also, the months of inventory is also drastically down. So if this trend continues, what we are going to see is prices continuing to increase because of the lack of inventory. So if you know anybody, or if you’re thinking about selling over the winter, but you have this mindset that the market isn’t as good in the winter as it is in the spring or the summer, I think we’re about to see that change. So I hope that helps. If you have any questions, of course, give me a call. Thanks! And I hope this was helpful.

2014 2nd Quarter Utah Home Sales Data – When’s the Best Time to Sell?

This Week I Cover…

  • The 2nd quarter, 2014 sales data are in – what’s the market doing?
  • Which county has the highest sales price growth?  The answer might surprise you!
  • What you can expect for the rest of 2014.
  • Home spotlights in Layton and Kaysville, two of the best markets right now.
  • Much more…

horizontalbluearrow

Want to know what your house is worth in today's market, find out now! Yes, it's free!

Video Transcript
Hello everyone! This is Ann Zieve with the Northern Utah Home Team and Keller Williams success realty. I’m here to give you my weekly market update. And today I have sales data from second quarter 2014 so we’ll go over that we’ll also look at some homes on the market. So let’s get started.
And first up we have the sales data for Weber County. This is showing us this green line is the number of units listed. The blue line is the median sales price and the red line is the number of units sold by quarters from 2014 back to 2009. And we can see at the end second quarter 2014, the number of units listed has increased from first quarter. It’s about the same where it was a year ago. Our median sales price has dropped from where it was a year ago although it is up slightly from the first quarter and the number of units sold has increased from first quarter but again it’s about where it was a year ago. So if trends continue the way they did last year we can expect to see number of homes listed, sold and prices starting to decrease as we go in to the third quarter for Weber County.
Well let’s take a look at Davis County. Here’s the data for Davis County. We are looking at the same things but we can see as slightly different pattern. For one thing, the median sales price is up at 219,000 which is an increase from where it was a year ago and an increase from where it was at first quarter. If you remember Weber County, the median price is around 150,000 so quite a bit higher in Davis County. Number of units listed has increased from first quarter and about where it was a year ago and the same with the number of units sold increased from first quarter about where it was a year ago. Now in Davis County, we could also expect to see if trends continue from a year ago, that the number of units listed and sold will start to decrease but a year ago the price continue to increase for another quarter so we’ll keep an eye on that and see if our prices are going to continue to increase in Davis County. Well let’s take a look at some home in the market in Davis County.
And first up is 329 Whits End in Kaysville. This is a beautiful 4 bedroom 5 bath home on almost an acre (0.84), has some great features with water features, a huge barn in the back and every bedroom has its own bath so they’re all set up like suites. This is a beautiful over 4,000 sq. ft. home on the end of a cul-de-sac and definitely worth checking out.
And next we have 1230 Fairmont Lane which is in Layton. This is a 4,700 sq. ft. home with 7 bedroom 5 baths at the end of the cul-de-sac. On over a half acre, I’m sorry it’s .39 acres and it has a mother-in-law suite on the main floor which is a very rare find. You can see all the beautiful finishes, lots of space in here for everyone and extended family as well.
So that’s the end of this week’s market update. Feel free to give us a call, a text or an email if we can help you with your real estate needs and until then, keep living smart.

How Does Fed Quantitative Easing Tapering Affect Interest Rates in Utah

This Week our guest Ron Pippin Covers…

      • How mortgage interest rates are determined
      • What the Fed’s quantitative easing actually is and what it does
      • How quantitative easing affects interest rates
      • What we expect interest rates in Utah to do over the next 12 months
      • Much more…

horizontalbluearrow

Want to know what your house is worth in today's market, find out now! Yes, it's free!

Video Transcript
Hey, this is Ron Pippin, loan doctor, guaranteedRate mortgage. Now, you may have heard the terms quantitative easing and Fed tapering because they’ve been in the news a lot lately. So what do these terms mean, and how can it affect you? Well, in normal times the Fed will cut interest rates to stimulate the economy. During this recent financial crisis, the Fed was forced to cut rates to basically zero to get the economy going again, but that wasn’t enough, and since they can’t cut rates below zero, the Fed used some new and unusual tools to stimulate the economy.
Now, one of those big tools is called quantitative easing, which is the purchasing of government and mortgage bonds in an effort to keep rates low and help stimulate that market. Now, they’ve been buying bonds at the rate of $85 billion per month. — How much is one billion? A billion months ago the Internet belonged to the dinosaurs. A billion minutes ago the Roman Empire was flourishing.—Which has helped to push interest rates to all-time lows and stock market to all-time highs. Now, recently the Fed started scaling back the buying of their mortgage and treasury bonds by reducing the purchases by $10 billion a month, and this is what they call tapering because they are tapering back their purchases.
Now, how does that affect interest rates? Well, in the past anytime the Fed has stepped back, interest rates actually pushed higher, but then they settled back down. Now, the question remains will interest rates move higher as the Feds taper their purchases? Well, experts believe that interest rates will move higher, and they did when the Feds first started their tapering. However, interest rates have since moved back down. Will they continue to hold? That’s the million-dollar question. Personally, I believe that interest rates will eventually follow the economy and will rise as time goes on. As the economy improves, interest rates are going to go up.
Now, other experts seem to agree that interest rates will be higher towards the end of this year as seen in this chart. Now, if you have questions about home financing, call me. I really can help you. If you have questions about buying or selling a home, now is the time before interest rates move higher. I would suggest calling Joel and Ann Zieve. I have been extremely impressed with their professionalism and how proactive they are compared to so many other agents. Give them a call, really. They will go over all your options with you. This is Ron Pippin with guaranteedRate. You can reach me or text me at 801-628-7667. Make it a great day.

How To Get Ready For Showings Fast in Utah

This Week I Cover…

      • March, 2014 market update
      • Sellers: Preparing for last-minute showings
      • Buyers: How to leverage the little time you have when viewing a new home for sale
      • Shadow Valley (Ogden) home for sale
      • Layton home for sale with main-level mother-in-law apartment/suite
      • Much more…

horizontalbluearrow

Want to know what your house is worth in today's market, find out now! Yes, it's free!

Video Transcript
And as we’re moving into the middle of March, we can see the market is heating up with new listings jumping up there. We also have new solds on an upward trend, and for now prices are holding steady, but I expect as we get more into the spring and summer market, we’ll see an increase there like we did a year ago. So now is a great time to be out there buying and selling. So let’s give you some great tips on how you can win as a buyer or a seller during the showing phase of the process.
Well, let’s talk about buyers. The first thing that buyers can do to help them be productive during the showing phase is to first get pre-approved. When you have that pre-approval letter, you know that you don’t have any issues with financing, and you’re ready to go shopping. You know your price range, and when you present that letter to a seller with your offer, it’s like giving them cash because you are ready to go.
The second most important thing a buyer can do is drive by the homes first before you set up a showing. That way you can check out the neighborhood, and you can check out the yard, you can check out the outside of the home and make sure when you pull up in front of it to see the inside, you already know it’s a home you would love to live in. And the third thing that a buyer can do to make his showing period productive is to look at multiple homes on the same day. That’s a better use of your time, and it allows you to better compare features from home to home when you are seeing them back-to-back.
Well, now let’s talk about what sellers can do to make the showings most productive for them. Sellers, of course, have the challenge of living in the house most of the time at the same time we’re trying to show it and sell it. So some great tips to make it easy to get ready for short-notice showings is to always hang up coats and book bags when you come in the door and have the whole family do the same. Have everybody take off their shoes at the door so they are not tracking extra dirt through the house, and have a drawer designated in the kitchen where you’re going to throw the keys and paperwork and all that miscellaneous stuff that accumulates on the countertops. That way they are always clean and ready to be shown. We have a lot more great tips for you too, so get a hold of us, and we’ll give you our sheets of great tips for showings.
Well, let’s take a look at some new homes on the market. This first home is in the popular Shadow Valley neighborhood in South Ogden. It’s over 4,500 square feet, four bedrooms, three baths, three-car garage, and gorgeous finished throughout. Lots of great living space here that you can use according to your lifestyle and lots of great updates like granite countertops, new furnaces, new air conditioners, and more. This is a well-maintained home, and you want to check this out while it lasts.
And let’s take a look at another one. This is a great home in Layton; 7 bedrooms, 5 baths, and a full mother-in-law suite on the main level, so mom can have single-level living right on the main floor. Mom’s apartment has its own kitchen and its own laundry room and lots of great finishes just like the main home. There’s two fireplaces to cozy up to, and you’re on almost 0.4 acres at the end of a cul-de-sac, so great space inside and out. Come check this one out today.
Well, that wraps up this week’s market update. Feel free to give us a call, a text, or an email if you need more information or have questions on anything, and remember that we’re here to help you buy a home, sell a house, or invest in real estate, so refer us to all of your friends and neighbors, and we’re happy to help them too. Until next week, keep living smart.