Blog
Utah Short Sales
Are there easy real estate purchases anymore? The answer to that is yes, but they are few and far between. The reason is because of the ever lingering quantity of short sales and foreclosures. Here in Logan Utah, there are 582 residential properties on the market as of today. Of those, there are 63 short sales in Cache County. Now, being a Realtor, I have to tell you that it feels like those numbers are reversed. More of my clients are looking at the short sales than they are the regular listings. This is because buyers right now feel like they can not only get a deal, but take advantage of someone’s misfortune. And although this might be true, there is still a price to be paid, and that comes in terms of the work it takes to navigate the banks’s various systems, their approval processes and the infinite amount of time they feel like they have in responding to anything. This really turns off buyers who are ready to buy, and they either turn their efforts to standard listings and settle for a home they don’t really love, or they leave the buying process all together.
My feeling is that the banks really need to get ahead of these short sales and approve the prices before they are listed on the MLS. This way, a buyer can offer on a home and know that the bank has already reviewed the listing and are willing to sell as a short sale. Buyers wouldn’t get scared off, agents would be willing to list more short sales knowing that the process wasn’t such a burden, and we would all benefit from a market that is working through the issues and will hopefully return to a healthy growing market.
So, there you have it, a little tid bit from me about short sales in Logan Utah. If you’d like to search for homes in Logan Utah, feel free to find homes here. Can also look for commercial real estate in Logan Utah on our site specifically designed with those listings in mind.
Monthly Home Sales In Cache Valley Utah
Alright, let’s get to it. We are now in 2012, and we want to make this a better year than 2011. How do we do that? We look at the past year and analyze some data. As you see below, we are going to break down the monthly Cache Valley home sales of 2011.
So, there are a couple of things that stand out to me in this chart. First is that the average home in Cache Valley sold for 15k less in Dec then it did in Jan. of 2011. That’s not great news. However, if you look at how long it took to sell a home in Dec compared to Jan, it dropped from 197 days to 127 days. Who wouldn’t want to sell their house two months faster?
Here’s another thing that stands out to me, and that is the average cost per square foot. If you compare Jan to Dec, there isn’t much difference, which is good I guess. But if you compare Jan to June, you see that the average actually went up. Of course it’s the middle of summer, but still, that’s positive new right?
If we want to really stick to the positive, take a look at the stats thus far for Jan of 2012. Logan Utah real estate is way higher on average and let’s just hope they stay that way.
Logan Utah, Top 5 In Yet Another Category
CacheValleyDaily.com has recently posted an article originating on TheStreet.com that marks Logan Utah as the 4th best place to start over in 2012. We all get to a point in our lives when we need to start over, get a fresh start, pick ourselves up from a tough time and move forward. Logan Utah seems to be a place that can supply an opportunity for this type of fresh start. With great employment, a University and incredible outdoor adventures, Cache Valley has options for you.
Logan Utah has also been marked as a top five place to live like the wealthy on less by TheStreet.com. Having lived here for almost 6 years, I can agree that we have it all here. Real Estate in Logan Utah has survived better than most places, unemployment is better than most places, and there seems to be a better stability all around Cache Valley.
So don’t take my word for it, or the word of the media from around the nation, come to Logan and see for yourself.
Merry Christmas From Homes In Logan Utah
Logan Utah Real Estate wants to wish everyone a very Merry Christmas, and a successful and Happy New Year.
Birds eye view of the Cache Valley real estate market
Alright, I did a little research this morning on how the real estate market in Logan Utah has changed since 2006. Below is a graph that will show the cyclical phases of real estate in Cache Valley, and you’ll also see how the national real estate market has affected the overall housing prices. We aren’t without fault though, real estate in Logan Utah has had it’s fair share of short sales and foreclosures that has contributed to the lower median house prices and sales.
Here’s an interesting report of the current real estate in Logan Utah. Notice the total number of active residential real estate listings, 623. That’s a pretty low number for the past three years, which in my opinion is a great sign for the market. It means that buyers have less to choose from, and that the market may start to balance out and perhaps start to appreciate again in the near future. For now, it’s still a buyers market, and yesterday rates were at 3.875%. You can’t pass up this crazy opportunity to buy real estate in Cache Valley, especially as a first time home buyer.
Logan Real Estate
Hey folks, I am starting my new blog and want to let you know that first and foremost, I will do my best to keep you updated on Logan Utah real estate regularly. For example, our association just posted on it’s site news that Utah real estate is on the rise. Here’s a blurb….
KSL | Jason Lee | December 6, 201
Utah home sales rose for the fifth straight month in October — up nearly 25 percent from last year, according to a new report from the Utah Association of Realtors.
During the month, Utah REALTORS® sold 2,819 homes, townhomes and condos compared to 2,261 sales last year.
It was the fourth consecutive month of double-digit sales increases. Since the beginning of the year, Utah home sales are up more than 7 percent compared to the same 10-month period in 2010.
We are improving both in terms of having increased demand from buyers as well as having fewer properties come on the market.
–Lori Chapman
For complete article, click HERE.
So, things are looking good for real estate in Utah. I have more to say, but no time, so check back for more positive news about the real estate market in Logan Utah.
2010 – Utah Housing Predictions
We are all feeling the affects of the local and national economy. How can you not, with all of the media attention focused around it, and when all of us know someone who has been laid off this year, or lost a home, or who is struggling to pay their bills.
Well, the good news is, and continues to be that the Logan Utah Real Estate market will fair better than all of the other areas in Utah, at least according to a recent report on HousingPredictor.com. Below is a small piece of their article, and you can find the entire article here.
Local Utah Housing Markets at a Glance
City Forecast
- Salt Lake City − 8.6%
- Ogden − 10.9%
- Provo − 8.2%
- Logan − 3.8%
In Logan the housing downturn has been aided by government incentives in the lower price ranges, but an over-abundance of properties in the higher ranges is still bogging down the market. Since prices didn’t escalate at double-digit rates of inflation annually during the boom, Logan will sustain the downturn much better than other areas of the state. Home sales are projected to improve across all price ranges in 2010 in the Logan area, and are forecast to see less deflation than in the past at 3.8% for the year.
The hard hit economy has forced lawmakers to cut millions of dollars from the state budget, jeopardizing programs and municipal services. Until the financial crisis, Utah had one of the strongest economies in the nation.
In Provo the market has seen rising home and condo sales with government stimulus efforts. However, the financial crisis has taken a toll on Provo’s resort economy, which has some of the best white powder snow skiing in the country. Provo has gained a reputation for being a leading worldwide resort community, and the second home market has sustained a battering with rising foreclosures.
Weary bargain hunters are expected to make efforts to pick off deals as bankers slash prices on foreclosures to sell off the inventory. The sales will have a detrimental impact on the market, which is forecast to sustain 8.2% in deflation for the year.
So there you have it, Utah will fair better than most of the Nation, and Logan Utah specifically will be atop the list for the 2010 housing market. If you’re still on the fence to buy your new Logan Utah home, it’s time to hop down and make that purchase and take advantage of the federal tax incentive. I have relatives who are closing on their first home this week and will be getting $8,000.00 back to spend on whatever they would like. So start searching for the perfect homes in Utah here.
Real Estate In Logan Utah (We’re #1 Again)
Alright, I have written about how Logan Utah is one of the safest cities in America. I have written about how our economy and Real Estate has remained solid during a bad recession. I have written about all of the wonderful reasons you should live here, and now I have a reason to write about why you should use the best Real Estate Brokerage in the county. That’s right, Cornerstone Real Estate is number one again, and proving that we can service the public with better, more reliable service than any other brokerage in the valley.
We not only have more tools and resources to market your Logan property if you need to sell, but we also maintain the largest internet market share in Northern Utah. We show your house on more websites, and in return, more buyers use us to shop for homes because it is us they find online. Talk about killing two birds with one stone. No one else puts more effort into being number one on the internet than Cornerstone Real Estate Professionals. From blogs to email marketing, virtual home tours to complete sites focused around your home, no one does it better, and we have the stats to prove it.
Don’t believe me, go ahead, try if for yourself. Open Google and search for “Logan Utah Real Estate“, or “Logan Home Search“, or “Homes In Logan Utah“. All of those searches will result in a number one website placement for a Cornerstone site. Why does this matter? Because when you need to sell your home, or you need to find a home, we are there, # 1, every time.
We had the most sales in the month of November and continue to impress by leading Cache Valley in December. If you need Real Estate Services, there really is no better place to go. Contact me directly, or use our free Logan Utah Search tool and we will be able to help you with all of your Home Searching needs.
Logan Real Estate Market Conditions
It is still a buyers market in Logan Utah, and the number of Logan homes for sale are still high. You can find a large selection of affordable homes in any part of Cache Valley. If you are looking for your first home, or ready to upgrade, times couldn’t be better. Your house options have never been more plentiful, interest rates have never been lower and the Federal Tax Incentive has been extended into next year.
I have included some graphs below to show you the difference in sales over the past two years in Cache County Utah. Take a look and get excited to find the home that is right for you. You can use our free Logan Real Estate Search tool and find any home for sale with photos, detailed info, maps, street views and more.
If you want to build your home, well your in luck. Land is also plentiful and prices are dropping. Sellers are anxious to sell their property and very willing to negotiate terms. Buy the Cache Valley Land you want and build your dream home anywhere in or around Logan Utah.
Logan Utah, Still Amongst The Top
Logan Utah’s local paper, The Herald Journal reported today that Logan Utah has made the top ten safest cities in America yet again. What a wonderful place to live, raise kids, go to school, work, retire or enjoy any recreational activities you can think of.
To search Utah Real Estate, use our first class, user friendly and free search form that includes street views, maps and detail property information.
Cornerstone
