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2010-10-30 23:02:50
It is a BUYER'S MARKET

Our economy has changed in the last five years. More people have become cautious with their money. Buying what they need, not what they want. But I believe it’s a good thing. When showing homes, my clients seem to be more willing to be realistic about setting a home buying budget than they were 5 years ago.

 What I am seeing is that a large portion of the Homes I show in Salt Lake County priced under $300,000 are extremely discounted properties or SHORT SALE LISTINGS, BANK FORCLOSURES or REO PROPERTIES or HUD LISTINGS. These properties are discounted and priced well. Sometimes the Bank or Lien Holder will take the time and spend a few bucks to replace the carpet or include new appliances. The Short Sales I have shown lately have been neglected and in need of Repairs and some are lacking Pride in Ownership which I can understand. I personally would want my home spruced up a little before I listed it on the MLS or multiple listing service. Bank Forclosures, especially Fannie Mae or Freddie Mac homes usually include some cleaning, most are willing to pay up to 3 or 4% towards buyer's closing costs. HUD HOMES CAN BE PURCHASED AS A PRIMARY RESIDENCE FOR AS LITLLE AS $100 DOWN PAYMENT!! WHAT A GREAT OPPORTUNITY FOR FIRST TIME BUYER'S. I LOVE THE UTAH REAL ESTATE MARKET WHEN I AM WORKING WITH BUYER'S.

 
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