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Answers (12)
Best Answer
- Becky Nay, "HomesInUtah"
- Contributions:150
Hello,
I just wanted to give you a heads up about Utah and zillow. I've noticed the other agents here are from out of state and zillow values may work in other states but the zestimate in Utah means nothing. Here in Utah it's a non-disclosure state and the sold details aren't given to the county which is where zillow gets their information from. Other states that aren't a non-disclosure state zillow works fine.
For example, in my neighborhood alone I've seen home zestimates on zillow to be higher or lower than what the actual value is. My home on zillow the value is listed higher than actual value that I could sell it for today.
You may want to get a 'Comparative Market Analysis' from a Realtor of your home to give you a better idea of what your home will sell for. I hope this helps you. If you have any further questions or concerns please don't hesitate to call or email me.
Becky Nay
I just wanted to give you a heads up about Utah and zillow. I've noticed the other agents here are from out of state and zillow values may work in other states but the zestimate in Utah means nothing. Here in Utah it's a non-disclosure state and the sold details aren't given to the county which is where zillow gets their information from. Other states that aren't a non-disclosure state zillow works fine.
For example, in my neighborhood alone I've seen home zestimates on zillow to be higher or lower than what the actual value is. My home on zillow the value is listed higher than actual value that I could sell it for today.
You may want to get a 'Comparative Market Analysis' from a Realtor of your home to give you a better idea of what your home will sell for. I hope this helps you. If you have any further questions or concerns please don't hesitate to call or email me.
Becky Nay
- Mike Harris, "Mike Harris Realty"
- Contributions:3
I think people get activity confused with values. generally in the spring, activity goes up quiet a bit, not home values. We have had values in the spring increase but that was when the market was a "sellers" market. It is a "buyers" market for sure right now. In the spring time a lot of people get out and look at homes. Probably because of the nice weather and a lot of people don't want to move in the snow! I don't see values increasing for another few years till about 2013-2014. But that doesn't mean wait in till then. Get out there and buy! There are soo many great deals out there, plus interest rates are amazing! We will look back on these times and realize it is a great time to buy!
- baleperez
- Contributions:3
Thanks to all of you for the taking the time to answer my query.
So after reading carefully through the recommendations I've learned that:
1. Prepare my home for sale in the spring
2. Interview realtors in my area
3. Get a Certified Market Analysis (CMA)
4. Above all be positive and flexible
I am selling to move up, not because of any financial pressure, but I don't want to take a loss either...
Best regards.
So after reading carefully through the recommendations I've learned that:
1. Prepare my home for sale in the spring
2. Interview realtors in my area
3. Get a Certified Market Analysis (CMA)
4. Above all be positive and flexible
I am selling to move up, not because of any financial pressure, but I don't want to take a loss either...
Best regards.
- David Forsberg, "bigdavesellsutah"
- Contributions:33
No! Your home's value will not be at the current value again until late 2013. We are going to see another big downturn in pricing as interests rates increase. We should hit the bottom of the market sometime in mid 2012, then the market will take a long and slow journey back to current market levels. We will not see peak values again for 10-15 years
If you need to sell any time in the next 3 years, now is the time to sell in order to maximize profits.
As far as "no foreclosures in South Ogden." Don't be fooled. There are several foreclosed properties, and many more in the "shadow inventory" in your area. Approximately 1 in 36 homes in South Ogden are at least 60 days late on their mortgage payments.
Expect another 20% decline until we hit the bottom of the market.
If you need to sell any time in the next 3 years, now is the time to sell in order to maximize profits.
As far as "no foreclosures in South Ogden." Don't be fooled. There are several foreclosed properties, and many more in the "shadow inventory" in your area. Approximately 1 in 36 homes in South Ogden are at least 60 days late on their mortgage payments.
Expect another 20% decline until we hit the bottom of the market.
- Tracy Gesselman, "palmbeachtracy"
- Contributions:58
I suggest that you obtain a CMA from a local real estate agent to help assess your value at that time.
- Angie Boggeman, "angie boggeman"
- Contributions:469
I believe that house values will continue to rise. Think positive!
- Rosana Shekman, Broker ABR, "Rosana Shekman Owner"
- Contributions:700
check on sold status and it will give you real info what to expect.
- Katie Criswell, "Katie Criswell"
- Contributions:130
Real Estate prices are based on Supply and Demand. In the winter, in many parts of the country, demand is down. Therefore, the people who need to sell quickly may drop their price to do so. Thus, there is a drop in value when there is less of a demand. However, demand usually picks up during the spring/summer, and I would guess that is what you are seeing.
I have seen a HUGE increase in the number of buyers since the first of the year. Many are shopping now in preparation for a move in Spring/early
Summer.
Katie
I have seen a HUGE increase in the number of buyers since the first of the year. Many are shopping now in preparation for a move in Spring/early
Summer.
Katie
- Christine McGinty, "whitemountainagent"
- Contributions:273
A Realtor will be further able to assist you. They will run the comps in your area and will come up with a marketable price, then you will have to decide if that will work for you or hold on for a bit longer until the market improves. You may want to start interviewing agents now so you will have plenty of time to find one you are comfortable with. If the agent has suggestions for improvement(s) you may want to make before putting the house in the market, you will have plenty of time to accomplish that in time to list it when you want. The best of luck to you.
- baleperez
- Contributions:3
Thanks for the answers and great information.
Utah has been shielded to some degree from the mortgage crisis because of strong leadership at the state level. In my my neighborhood here in South Ogden we haven't had any foreclosures and I don't expect any.
My home is located in a very quiet street where children play safely, schools and hospitals are close by and Weber State University is only a stones throw away... All in all a very comfortable area.
Well I suppose that the only thing to do is to prepare my home for sale in the spring.
Thanks again.
Utah has been shielded to some degree from the mortgage crisis because of strong leadership at the state level. In my my neighborhood here in South Ogden we haven't had any foreclosures and I don't expect any.
My home is located in a very quiet street where children play safely, schools and hospitals are close by and Weber State University is only a stones throw away... All in all a very comfortable area.
Well I suppose that the only thing to do is to prepare my home for sale in the spring.
Thanks again.
- Christine McGinty, "whitemountainagent"
- Contributions:273
Time will tell what this market will do this year. It is very market driven and much depends on what your market is doing there. Here in AZ, we still have so many foreclosures and short sales still on the market as with much of the country and no signs of slowing down at this time. Until the foreclosures are well under way to being re-absorbed back into the market, I'm afraid we will still see declining prices and more supply than demand. Lender qualifications are getting more difficult too which is making our recovery process slower also. Unfortunately the ever changing rules implemented by Fannie Mae and Freddie Mac make these times especially challenging as they are not making it easy for this market to turn around. They are putting so many stipulations on investor purchases that I see further stagnation. They will negotiate with a first time buyer with very little down giving them significant incentives than an investor paying cash and doing a quick close. Hard to understand the reasoning, but it is what it is.
- Dan, "the_country_hick"
- Contributions:4699
I would not count on it. We are seeing declining values still. Seasonal variations may occur but the long term prognosis is a further downward slide in house prices.
Look at the site below.
Utah
Homeowners forced to walk away from their homes and other mortgage holders who are losing confidence in home prices ever recovering from their slide, contribute to record high foreclosure rates in Utah, which is suffering through the foreclosure crisis despite better employment opportunities in some areas. guidelines are making it more difficult for many would be home buyers to obtain financing though, leading to more troubles for the region.
Homeowners forced to walk away from their homes and other mortgage holders who are losing confidence in home prices ever recovering from their slide, contribute to record high foreclosure rates in Utah, which is suffering through the foreclosure crisis despite better employment opportunities in some areas. guidelines are making it more difficult for many would be home buyers to obtain financing though, leading to more troubles for the region.
Ogden should see a boost in home sales towards the second half of the year as consumers gain more confidence in the national economy, and is forecast to sustain average home price losses of 3.8% for the year.
Even the federal reserve is saying house prices need to fall more.
The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas
Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More
Look at the site below.
Utah
Homeowners forced to walk away from their homes and other mortgage holders who are losing confidence in home prices ever recovering from their slide, contribute to record high foreclosure rates in Utah, which is suffering through the foreclosure crisis despite better employment opportunities in some areas. guidelines are making it more difficult for many would be home buyers to obtain financing though, leading to more troubles for the region.
Homeowners forced to walk away from their homes and other mortgage holders who are losing confidence in home prices ever recovering from their slide, contribute to record high foreclosure rates in Utah, which is suffering through the foreclosure crisis despite better employment opportunities in some areas. guidelines are making it more difficult for many would be home buyers to obtain financing though, leading to more troubles for the region.
Ogden should see a boost in home sales towards the second half of the year as consumers gain more confidence in the national economy, and is forecast to sustain average home price losses of 3.8% for the year.
Even the federal reserve is saying house prices need to fall more.
The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas
Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More
Will my homes' value go up again in the spring?
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