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I am looking into building a new home in North Salt Lake. When I look at the home values it looks li

I am looking into building a new home in North Salt Lake. When I look at home values it looks like homes it that neighborhood are not holding value, they are going down over the years. I also notice a lot of short sales. Is it a bad neighborhood? Are people paying too much to build their homes?
  • January 13 2013 - North Salt Lake
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Answers (2)

With regards to home values most areas have been going down over the years with the exception of the Sugar House Salt Lake area where home values have been more steady then in other areas. However, right now we are experiencing an increase in the home values all over the Utah Valley. Theres a lot of new construction going up right now in North Salt Lake and it is a good area very close to downtown. In my professional opinion you get more bang for your buck by buying an existing home as you can get better finishes and upgrades that the builder would have you pay for otherwise. Now, if you want your dream home just the way you want it, then building would be a better option if you are prepared to pay for it. Its all about what your family wants and needs. I have a listing coming up in North Salt Lake. Message me if you are interested in the details. Hope this helps :)
  • April 30 2013
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Short sales hurt the market when using a competitive approach to value. Any time a home sells under value, it effects all the homes around it. NSL boomed in 2005-2007 in the Eaglewood and Foxboro areas. Many of those were effected by the housing bubble and many people are still up-side-down. These poor folks are getting weary of overpaying and choose to short sale and start over.

I would advise against building in NSL right now unless you can get a good parcel of land for a very low price.  If you really like the area, good value can be found in the short sales.  I'd be happy to help you.  I know NSL...I live there and have studied the South Davis County market.
  • January 15 2013
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