Draper, UT Real Estate News

By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Utah County Buyer Agent Commissions (BAC) - Utah Home Loans One of the most often used marketing tricks that Utah County Listing agents use to attract home buyers is a Buyer Agent Commission (BAC) that is larger than what is generally offered.  Most home sellers offer a commission of 6 percent to the agents that assist to sell their homes.  Half of the commission or 3 percent goes to the agent that listed the home for sale.  The other 3 percent goes to the agent who represents the buyer in the transaction.  By offering an inflated BAC, the listing agent is hoping that the agent representing the buyer will show and recommend their home before the home that only has a 3 percent commission. Utah County Home Buyers Beware Utah County home buyers need to understand that sometimes their agent...
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By Alan Barker
(Boomerang Leads)
Draper homes experienced one of the larger increases in the county, up 33.6%. Average price decreased about $60,000 and median price decreased about $18,000.  Current Draper Real Estate prices are currently around one-half million dollars, 20-30% higher than what homes have been selling for. 
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By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
The Draper Utah homes for sale report for Salt Lake on 7/01/09 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums. Draper Utah homes make up almost 6.6% of that number, with 505 single family homes for sale. Ninety two (16%) of those are condominiums. The information contained in this Draper Real Estate Market Analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley. While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise. This report will not include most of the homes for sale by owner, (FSBOs) as ...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
The Lockbox is a very important component of the Listing Package when it comes time to have your home listed for sale.  A lockbox is a padlock with a cavity inside where a key to your home can be placed.  Only someone with an electronic key or the combination can get into the lockbox and access the key.  Having a lockbox available at your house makes it easy for other agents to gain access to your house.  Without the lockbox, agents representing buyers would have to set appointments to meet you or your agent at the house so they could gain access and view the home.  This would be inconvenient.  Since almost every other house does have a lockbox available, if you do not allow one most agents will simply not show your property.  You will miss out on lots of potential buyers.  The listing ...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
Many factors come into play when you attempting to figure out how much you can afford in a new home.  In addition to your monthly mortgage payment, there are closing costs, moving expenses, plus purchases and maintenance for the new home.  The rule of thumb is generally considered, your gross income multiplied by 2.5, will give you an approximate amount for the price of home you can afford.  The amount will vary depending on how much you have as a down payment, your debts, financial situation, and credit history and rating.  Your debts, including alimony and child support, should not be more than 30 to 40 percent of your gross income. Monthly Mortgage Payment Lenders are very careful to make sure you have the ability to repay your loan.  As a general rule, your monthly mortgage payment ...
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By Mark Watterson, Utah Real Estate
We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.    SUMMARY Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom.  This is NOT a good time for those with low and/or no risk tolerance to purchase.  High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.  Some are trying to time the market and market timing is risky.  Trying to time the bottom is not for the inexperien...
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By Alan Barker
(Boomerang Leads)
Draper homes sold saw a small lift last quarter, selling 2.65% more.  Median sold price decreased by a small amount but average sold price decreased 14%.  There are about 554 homes in Draper actively listed and the inventory is at 14.33 months.  
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By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
Our offer on the Salt Lake Foreclosure in Draper,UT. has been accepted. Well almost accepted. I guess that means it's almost sold. In this new world of Foreclosures, Pre - Foreclosures and Short Sales, nothing is the way it should be. I feel like Alice in Salt Lake Wonderland. After over 30 years in this business, I must tell my buyer that I'm not sure we have a deal, but that they should order an inspection, an appraisal, a title report and prepare to move just because the bank told us "your offer has been accepted". Actually I am sure. We may have a deal. But we don't have a contract on that Salt Lake Foreclosed Home for sale. The bank that owns the property has told us that we have an accepted offer and they have written an addendum that sets to paper the terms under which they will...
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By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
  I get a lot of questions about  Salt Lake City Foreclosures or Short Sales in Draper Ut, and what to offer.  it's a very important question, as sometimes as much as 25% of the homes for sale fall in those categories. Every Bank has their own philosophy of unloading their Bank Owned Homes. All this hype aimed at seminar investors, bottom feeders, fortune hunters, and the just plain gullible promising to show you how to buy Real Estate for pennies on the dollar, are just that, HYPE !! There are great buys out there. With all of the Bank Owned Homes, HUD Homes, REOs, Foreclosures & Pre-Foreclosures for sale, It is a buyers market for sure. In fact it the best time I have seen to buy a home in Salt Lake City in my 30 years in this business in this place. But your offer must make sense !!!...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
By: Robert A. Hulme - Realtor - Loan Officer - Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills How do you know which type of mortgage product is best for you?  There is no simple answer to this question?  The right type of mortgage for you depends on many different factors: •·         Your current financial situation •·         How much you expect your finances to change •·         How long you intend to stay in your house •·         Your tolerance for having your mortgage payment changing from time to time. Most important is to consult a mortgage loan professional when it is time to decide what is right for you. The down payment required with your loan quite probably will be less than you think.  Many first-time buyers are surpr...
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By Randy DeLaMare, Helping friends Realize their Real Estate Dreams
(Realtypath LLC)
What is new on the Draper, Utah skyline. It is a new Latter Day Saint Temple. The Temple is currently open to the public for tours. If you have wondered what the inside of a temple looks like this is your chance. Tours are currently being given through March 14th, 2009 eacept on Sundays. Here is a link for reservations to go on a tour: http://www.lds.org/reservations/0,10751,1619-1-501,00.html  There is no cost for the tours. Once the tours are over LDS Temples are dedicated and are no longer open to the public. To learn more you may also visit: http://www.lds.org/temples/geographical/0,11380,1899-1,00.html There are many homes surrounding the Draper, Utah LDS Temple, and many of them are available at this time. If you have interest in finding one of these gorgeous homes in a beautiful...
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By Utah Real Estate Search Utah County Realtor, Home Listing Partner
(Home Buyer Realty Utah)
By:  Robert A. Hulme - Realtor - Loan Officer The time has come to start shopping for a home to purchase.  The first thing that you should do is to get pre-qualified for a home loan.  It is very important to understand what your price range is prior to looking so you don't waste time looking at properties that are out of your price range. Where do you begin? Most Realtors work with a trusted network of Mortgage professionals, who can assist you in getting pre-approved for a loan so that you can comfortably begin looking at homes with the assurance that you can obtain the proper financing. Generally, loan officers can help you with a pre-approval by getting some basic information (address, social security number, etc.) over the phone or internet. If you choose to purchase a new home, man...
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By Alan Barker
(Boomerang Leads)
Homes sold in Draper went down by 18.25 percent in 2008.  There is currently more homes listed now than what sold in 2008 so there are plenty of homes in Draper for any buyer to consider.  Median sold price decreased 6% from $367,000 to $345,000. Average price also decreased, but by 7.4% from $437,456 to $405,037. Draper also has just over 13 months of active inventory.  Because the current average price of homes are 27% greater than what homes sold for last year, prices may continue to decrease.    These numbers are not official.
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By Mark Watterson, Utah Real Estate
We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION     Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.         SUMMARY Currently we are not seeing the needed positive price action (along with other indictors) to confirm a market bottom.  This is NOT a good time for conservative buyers to purchase.  High risk tolerant investors and speculators are doing some bottom fishing.       Data considered accurate... However is NOT Guaranteed.  Contact your Mark Watterson your Local Property Resource Specialist for the most up-to-date data.
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By Robert A. Hulme, Home Listing Partner
(Home Buyer Realty Utah)
By: Robert A. Hulme - Realtor - Loan Officer -Utah County, Including Provo, Orem, Pleasant Grove, American Fork, Lehi, Highland, Alpine and Cedar Hills, Eagle Mountain, Payson, Saratoga Springs, Spanish Fork, Springville, Mortgage Xpress, Agent The overall appearance of your home is one of the major factors to consider when placing in on the market to sell.  The problem is, either you don't have or are not willing to spend the money to remodel.  There are some inexpensive things that you can do to give the appearance of success without spending the money to make it happen. Enhancements or redesigning of the kitchen usually is one of the first areas considered when thinking about what to do to improve the appearance of your home.  But is it the most cost productive means.  Many buyers wo...
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We still are having a low percent of new listings being SOLD.  Currently (6.89)% on a year over year, YTD comparison and we need positive % of listings sold, with positive price action to confirm market bottom. Please see data below.                                                                                  PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market) and lower new listings.             SUMMARY  Currently we are not seeing the needed positive price action to confirm a market bottom.  This is NOT a good time for conservative buyers to purchase.  High risk tolerant investors and speculators are doing some bottom fishing. For more details or just to chat about market conditions please feel free to contact me. Thank you  
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By Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
This information on Draper Real Estate and Homes for Sale for Oct, 08 is provided by Group1 for clients looking to buy or sell a home in the Salt Lake Valley in the near future.  The information is designed to provide timely and important Real Estate statistics to those looking to evaluate Real Estate trends about homes for sale, prices for Draper Homes/Condos, Homes listed in Draper UT, and an overview of distressed properties. IE: Bank Owned, HUD Homes, REOs, Homesteps, & Short Sales. These housing statistics are compiled by the Wasatch Front Regional MLS, and are a composite of all the homes listed for sale by local Realtors. The scope of this report is all of the homes for sale, and condominiums listed for sale in Draper UT. Assessments of other cities and towns along the Wasatch Fr...
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By Randy DeLaMare, Helping friends Realize their Real Estate Dreams
(Realtypath LLC)
Draper real estate is still selling. Housing has become more affordable in this community. I have added a stastistic including Short Sales, and Short Sales with bank approved pricing. This means that the price showing should be the banks accepted price. If you would like a list of any of the properties feel free to call or email me.
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By Alan Barker
(Boomerang Leads)
Real Estate in Draper Utah is in pretty bad shape to say the least. While there are nearly 700 active residential listings, in the first half of 2008 only 260 homes were sold. These Draper Homes had a median list price of $340,000 and an average list price at $410,283. In contrast, the active listings median price is $470,000 and the average price is $615,915. In the second quarter 150 homes were sold in Draper. At this pace it would take 13.8 months to sell the existing MLS inventory of Draper Homes. Being that the current inventory is substantially more expensive, and the economy isn't exactly peaking, it's a pretty scary situation for many Draper home sellers. If you're trying to sell in Draper, make sure you price your home at or below the competition.
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By Angela Bobowski
(South Jordan Realty)
Draper Real EstateWe here at South Jordan Realty continuously monitor local real estate statistics to keep our clients informed and ahead of the real estate trends.  Below you will find Draper real estate statistics for the week of April 21, 2008.Total number of homes currently for sale in Draper: 678Total number of homes sold in Draper in the last 12 months: 548Newly listed homes on the market: 46Number of homes going under contract (offers accepted): 19Number of homes sold: 3Number of homes being taken off the market: 28If you would like to know what your home is worth or a free list of homes for sale, please contact me.Angela BobowskiSouth Jordan Realty801-604-1888email: angela@bobowski.com
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