Is the Utah Housing Market Cooling Down?

Posted on 5 October 2021 | 9:07 am

Cooler temperatures means a cooler housing market right? Sort of, but not quite. According to new data, home sales have slowed down ever so slightly. Multiple-offer situations aren't as frequent and we are finally starting to see housing supply tick upward. Inventory is on the rise but compared to previous years, the overall supply is still very low. So what does this mean? Here are our key takeaways: 2021 is still on pace to be the second best year for home sales in state history. Home prices are still high, but with less competition, buyers will have more room for opportunity and negotiation.  Because the market is still competitive, sellers can still anticipate getting top dollar for their homes. If you have any questions about current market conditions, don't hesitate to ask...  more»

The Sundance Film Festival is Expanding

Posted on 5 January 2021 | 11:59 am

Tickets and passes will be available for purchase January 7 The 2021 Sundance Film Festival, taking place January 28 to February 3, 2021, is expanding to screens everywhere—catch a movie right from your computer screen or visit an in-person showing at their newly coined 'satelite screenings', taking place at multiple venues across the country. Online Experience This year there will be 72 feature films and numerous shorts all available to you with a ticket or pass at scheduled virtual showings. In a normal year, an attendee might be able to squeeze in two movies on day one if they're feeling ambitious, but in this new format you could see up to three. See the full Sundance Film Festival program here.  The New Frontier In addition to the films and shorts, users will have plenty else to keep them busy with the festival's New Frontier program offering virtual reality, augmented reality and interactive virtual spaces for 14 streaming works of art, live Q&A's and new online environments to interact with and participate in. In-Person Experience Sundance is bringing the Festival to a collection of arthouse cinemas, drive-ins, and pop-ups across the country, some of which are located in: Park City, Salt Lake City, Denver, San Francisco and more. Tickets to the in-person screenings will be sold through the partner theaters. You can see the full list of partners here. Tickets Despite this year's festivities being mostly online, each screening will have a limited number of streaming slots available. Tickets for individual screenings and multiple-film passes go on sale January 7. You can visit their website here to get yours.   Image: Jet Tone Films, from ‘One For the Road,’ to be featured this year....  more»

Utahns are on the Move

Posted on 2 December 2020 | 12:52 pm

According to 2019 U.S. Census Bureau data, almost one in every six Utahns either moved into, out of or somewhere new within the state in 2019.  The most in-migration by a landslide was from Califorina (17,821), then Nevada (10,529), Colorado (7,856), Idaho (6,752) and Arizona (6,031). The top destinations for departing Utahns were Texas (10,072), Arizona (8,917) and Idaho (7,371). Over a half-million Utah residents moved: 389,000 within the state, 96,000 from another state and 16,000 came from abroad. Utah has continued to be a desirable location for younger people. The state's average age is the lowest in the country: 30.7. What have we seen in 2020? This year, Utah has seen an influx of new buyers as the pandemic-triggered urban exodus continues around the country. The greater Wasatch Front market experienced a remarkable 13 increase in the total number of transactions that closed in the third quarter this year with inventory averaging 50 less than in Q3 of 2019. The greater Park City real estate market experienced a remarkable 85 increase in the total number of transactions that closed in Q3 this year. Dive deeper with some of our pieces: Why Utah? Essential Economic Insight During the COVID-19 Pandemic Wasatch Front & Wasatch Back 2020 Q3 Market Overviews Whatever the future holds for you and your family, whether its relocating to another state or moving within, don't hesitate to reach out to a Berkshire Hathaway HomeServices Utah Properties professional.  ...  more»

The Housing Shortage in Utah

Posted on 31 August 2020 | 11:09 am

Like in many industries, there was certainly some cause for concern in real estate when the pandemic came about. New listings, pending sales and closings all dipped in March and April as uncertainty swept the nation. Fast forward to June, and the Utah real estate market has seen a surge like no other. We've seen record setting numbers both in our brokerage and this market: pending sales have poured in and closings are right behind them. Compared to last year at the same time, our pending contracts have doubled. While this buyer confidence is a promising sign for our market, it means that the pre-existing inventory shortage has only been worsened. So now what?  Why is this happening?   Federal mortage rates are at an all-time low: 2.99 Before the pandemic, demand was already high in Utah. This is the market's way of overcorrecting Many out-of-towners are leaving big cities due to social unrest, high taxes and COVID seeking the Park City lifestyle We are seeing a significant increase in out-of-state buyers, putting even more strain on the low inventory The average length of time homebuyers stay in their homes has increased over time: now 10 years  How long will the craziness last? The high demand for homes will almost certainly carry into Fall. Some experts are predicting it will continue well into 2021 Fear not, we are seeing an increase in seller confidence. New listings growth has recovered to pre-pandemic levels  What does it mean? NOW is the time to buy. Prices are continuing to increase, and these low mortgage rates wont last forever Sellers are getting more for their listings due to the high demand...  more»

Local Virtual Events, Classes and More

Posted on 6 August 2020 | 9:24 am

  Given the current situation in which we’ve found ourselves, it might feel like there's not much to do. While that might be true in the physical world, there are still plenty of offerings from your favorite places online. Help support Utah business while also learning and having fun Check out some of these Utah based virtual events and classes below.   TRACY AVIARY  Virtual Paint Along, Birds & Brews and more.   RED BUTTE GARDEN Online classes and virtual summer camps.   OGDEN NATURE CENTER Wild Wednesdays.   CRAFT LAKE CITY The Virtual DIY Festival, Workshops, Classes and more.   KIMBALL ART CENTER Creatively Quarantine: Online Classes, Learning and Virtual Celebrations...  more»

5 Utah Drive-ins Ready For Your Business

Posted on 1 June 2020 | 4:38 pm

 With summer right around the corner, things definitely feel a bit different. Many industries that would otherwise thrive this summer have found themselves postponed or even closed for the year. We admit, it had been a while since we've rolled up to the big screen ourselves, but we promise one trip will have you feeling nostalgic and optimistic about the summer ahead. To get more information on showtimes and each drive-in's COVID-19 guidelines, visit the websites linked below. Enjoy   Redwood Drive-In, West Valley City (Pictured)Learn more here.   Motor Vu Drive-In, Riverton (Opens June 5)Learn more here.   Echo Drive-In, RooseveltLearn more here.   Motor Vu Theatre, Tooele Learn more here.   Basin Drive-in, Mount Pleasant Learn more here.   Photo courtesy of Steve Griffin, Deseret News  ...  more»

What Does the Home Buying and Selling Process Look Like During COVID-19?

Posted on 1 May 2020 | 4:41 pm

Things are a little different, but when you're equipped with the right technology and tools, the process is streamlined and efficient. Here's a look at how the COVID-19 pandemic has changed real estate processes, and how we've adapted with it. VIRTUAL HOME BUYING Virtual Consultation. Schedule an appointment by phone or video conference to understand your real estate needs and goals. Reporting. Create a report consisting of available properties, market history and statistics through MoxiWorks, a dynamic CMA platform. Online Home Search. We will continually send you newly listed homes that match your search criteria as soon as they hit the market. Mobile App. Explore homes and areas with our Utah Properties mobile app featuring real-time MLS updates. Virtual or Live Tour. See selected homes virtually or with a live tour. We will follow proper CDC & NAR guidelines when touring a home. Digital Negotiations/Addendums. Create offers and addendums via digital platforms. Electronically Sign. All of the paperwork is done electronically and securely. Title and Escrow. Wire deposits directly, Escrow handled remotely. Inspections. Inspections reports sent and reviewed digitally. Closing. Funds and documents are completed digitally to facilitate closing. Get the keys VIRTUAL HOME SELLING Virtual Consultation. Schedule an appointment by phone or video conference. Establish Pricing. Your pricing strategy is facilitated via an intensive proprietary market analysis system that features live MLS updates. Market Preparation. We will walk you through the necessary steps to make sure your home is market-ready including home staging ideas and tips. List Home for Sale. We complete the necessary steps to officially list your home to the market. Market and Syndicate Home Online. Over 90 of consumers search for property online. We syndicate and market your listing locally and globally. Track Buyer Activity/Views Online. We monitor the interest your property receives online. Virtual or In Person Home Tours...  more»

Seven Projects to Tackle In and Around Your House While You’re Quarantined

Posted on 7 April 2020 | 11:37 am

Seven Projects to Tackle In and Around Your House While You’re Quarantined  Being stuck in quarantine doesn’t have to be boring. There are a lot of things around your home just waiting to be fixed or updated. If you’ve run out of shows to binge watch and board games to play, here are some areas in your home you might consider updating.   1. Interior decor Upgrading your interior decor does not necessarily require any tools, just some creativity. Take a look at your space and see which items you can rearrange. Start with your living room where you’ll likely be spending most of your quarantine. Move your couch to the other side of the room or replace the rugs on the floor. A simple change in furniture layout may just be what you need to get rid of the monotony of day-to-day indoor living.    2. Repaint your walls Repainting can make a big difference in your home’s appearance. Maybe you have a few cans of paint tucked away in your garage. Do a quick survey of your home and figure out which areas would best benefit from a repaint with the colors that are available to you right now.    3. Tackle your closet You may not be able to go out and shop for new clothes but you can certainly reduce the amount of items accumulating in your closet. Take everything out and sort them into different groups: clothes you haven’t worn in a year, ones you don’t like, and others that you want to keep. Donate the items you don’t want anymore. In today’s climate especially, there are people who can benefit greatly from the items that you give away.   4. Add storage Since we’re on the topic of decluttering, we might as well tackle storage. After cleaning out your closet, find a home for items that you decide to keep. There are plenty of DIY guides online that teach you how to transform old shoe boxes into beautiful storage bins. This will help make your home feel better organized and put together.   5. Get your green thumb on Now is the perfect time to try your hand at gardening. If your yard is looking empty, find ...  more»

Park City Realtors Expand Market

Posted on 17 December 2019 | 7:08 am

Berkshire Hathaway HomeServices Utah Properties adds Red Ledges community in Heber, Utah to list of represented developments  PARK CITY, UTAH – Locally owned and operated since 1976, first as the Coleman Land Trust, then as Prudential Utah Real Estate, and now as Berkshire Hathaway HomeServices Utah Properties, BHHS Utah Properties has been a leading force in the development of Park City’s real estate market for more than 40 years. Red Ledges, which is a four-season, full-amenity community in Heber, has been one of the most successful real estate development projects in the Wasatch Back for a decade. As Park City and Heber have become more connected over the past few years, the inclusion of a development like Red Ledges at a top brokerage was a logical evolution in the Park City real estate market, so it was only natural the two would eventually join forces. The long-standing Berkshire Hathaway HomeServices Utah Properties brokerage has listed other large projects in Wasatch County over the years including Wolf Creek Ranch, Tuhaye, and Deer Crest Estates and The St. Regis Deer Valley, but the addition of Red Ledges marks the first time any Park City brokerage has represented a major development in the Heber Valley.  Heber is a growing town just east of Park City which is enjoying its own blend of revitalization and Old West ambiance.  Over the past four years, Wall Street Journal, New York Times, Money Magazine, and several others have named Heber one of the top places in the U.S. for lifestyle, growth, and second home ownership. Steve Roney, Owner & CEO of Berkshire Hathaway HomeServices Utah Properties provided some perspective on the significance of Red Ledges joining the fold noting, “Skiing and real estate are the two biggest economic drivers in Park City and the surrounding areas. This is a place people want to be because the Wasatch Back provides four season recreational and community opportunities for residents and visitors alike. Heber sits just 20 minutes east of Park City and 10 minutes from Deer Valley Resort’s eastern entrance wher...  more»

8 Innovative Home Technologies for New Homeowners

Posted on 5 December 2019 | 1:51 pm

If you are considering putting your house on the market, you need to make sure it is ready for any age, but particularly the Millenial group. Innovative ideas for the home that could entice any buyer, even millennials which represent the largest buying pool demographic in the country is important because you want your home to stay competitive in the market. When you add that technological element to a home, it becomes both easier to live in and more in touch with housing in the future. The 1960s home that’s been renovated only one or two times might not be as up-to-date as another home that’s been recently done. What most people seem to forget is that not only does a home need to stand the test of time, but also upgrade as the buyer pool changes.  Here is a list of some of those innovative home technologies that could cause your buyer to get in a bidding war over your property. Most homeowners do not have the skill set to complete their own home repairs, so you should also consider including a home protection plan within the price of your house. A home protection plan will give your buyer peace of mind that if something goes wrong, an expert will be available to fix the problem.   Remote Controlled Shades We know. No one needs remote-controlled shades, but having them will certainly give your house a “wow” factor. Depending upon the brand you purchase, you can control or program your shades with your home automation app.  High-end shades don’t just add decorative appeal and assist in keeping your privacy. They also may lower your home’s heating and cooling bills. While a double-pane window has an insulation rating of 2, high-end shades may have a rating higher than 4. Before your guests roll their eyes at the extravagance, tell them how ecologically friendly your remote controlled shades are.  Include a High-End Range Many millennials consider themselves as foodies. While they may not bat an eye if the 2nd and 3rd bedrooms in your home are the sizes of postage stamps, they will care about the quality of appliances in the kitc...  more»

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