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Daily, Weekly Data Updates that will help you sell or buy right the first time.

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What Sold in March 2024 Cache

County, Click

 

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Inventory will be increasing

even more in 2024 and 

demand will remain high

BUT...

There are four things in a

contract that are interrelated with

each other that will make it

difficult for Seller's and buyers.

 

1. Price: Overinflated....
 

Business insider...
10 cities in the NATION where home prices are set to decline the most over the next 3 years with real-estate values overinflated, according to Moody's. Logan is #5   Provo #1

Click Here   

2. Down payment:
 

Buyer's and Seller's have concerns with economy. Inflation is killing everyone. Down payment harder to come by. This will create more

inventory and homes will remain on the market longer.

3. Interest rate:
 

Even if rates drop

It's still difficult with monthly 
payments. One of the other three 
need adjustments.

 

4. Time period:
 

15 yr = higher pmts. 30=high pmts. 
Going beyond 30 will make payments lower.

Items 1-4 need adjustments in order to

see stability, and we are not seeing it yet.

How I predict the market, click
 

3-1-34
Currently our inflation rate is 3.09 % and there will be a lot of fluff in 2024 due to an election. The goal is 2% and why are they lowering interest rates when their goal is 2%. Lowering rates will only increase the inflation rate.
 Elections are the reason for lower rates, Click here

 

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What Sold, 2-21-24 to 2-29-24.

18 homes, click here

 

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What Sold, Days on market, etc. 

Feb 8th 2024 to Feb 20th 2024...
17 homes sold during that time. And, 256 homes didn't. 31 price changes during this time. Cache Valley 

 

Here are the solds... 

Orgional list price: 345,000
Sold price: 315,000
Price per Sq Ft: 264
Days on Market: 97

List date: 10-20-23

Orgional list price: 565,000
Sold price: 560,000
Price per Sq Ft: 169
Days on Market: 105
​List date: 9-27-23

Orgional list price: 299,900
Sold price: 275,999
Price per Sq Ft: 158
Days on Market: 9
​List date: 2-5-24

Orgional list price: 308,000
Sold price: 295,000
Price per Sq Ft: 224
Days on Market: 21
​List date: 1-19-24

Orgional list price: 299,900
Sold price: 287,000
Price per Sq Ft: 211
Days on Market: 44
​List date: 1-3-24

Orgional list price: 385,000
Sold price: 379,900
Price per Sq Ft: 195
Days on Market: 38
​List date: 1-2-24

Orgional list price: 389,900
Sold price: 335,000
Price per Sq Ft: 188
Days on Market:  121
​List date: 10-11-23

I'm an UnTraditionalBroker.com in an 
alternative real estate marketing world. Texting is best 435-753-4577.

If your home has expired from the MLS, no longer on the market, I have alternative marketing strategies that are DATA driven when selling your property....

You Should Never Deny
A Strategy / An Opportunity / And Several Options
Before Checking Things Out!



If your property is currently listed with a Brokerage, please disregard my offers. It is not my intention to solicit the offerings of other realtors you may be working with through an agency relationship agreement. I will be happy to work with them and cooperate fully







 

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Business insider...
10 cities in the NATION where home prices are set to decline the most over the next 3 years with real-estate values overinflated, according to Moody's. Logan is #5   Provo #1 IN THE NATION!!!!

Click Here   

Moody's economists expect US home prices to fall by 4.5% in the years to come. I saw this coming in May and June of 2022. But some markets will see worse declines than others amid low affordability and inflated values.  Home prices in cities like Provo-Logan, Utah and Clarksville, Tennessee will fall most, Moody's says. Data taken from NAR and other IDX-MLS data that funnel back to NAR


 

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Things You Should Know Before
Listing Your Property.
Data from 1997 to present date. I'm the only one tracking this data, the only one. Data allowing you to sell your home right the first time. I will show you this data when we meet, 85% Pre COVID, 90% 2021-22 and 95% to 99% 2023. And, Jan 2024 89%
Password protected, it has taken way too long to just give this information away, 27 plus years of data. If you do not take advantage of this data, you will lose money when listing your property. Buyer's need this data as well.  See video below...


 

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What took place from
Feb 1 2024 to Feb 7th 2024...
13 homes expired during that time. When sellers cancel or a listing expires from the MLS it could be several reasons, but usually they're tired and it was over priced. Here are the prices of those homes...
$447,850   $825,000   $374,999   $329,900   $749,900   $518,900   $625,000   $819,900   $365,000   $565,000   $324,990   $319,990   $930,000.
Based on my data research,  these homes need to be 4 to 6 percent lower in price. When we meet I will show you why. Ask about inflation rate.

There were 9 homes that sold during this time. Average days on market 115.44 days. All had considerable price drops to make the sale happen.
 

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 What Happens When Your Property Is No Longer On The Market...
What happens next, a flood gate of agents will try to connect with the seller and try to re-list the property. I maybe one of them, Most likely the home was over priced and the seller purchased the home at an inflated bubble purchase and now they're trying to sell as the pieces of the balloon fall to the ground.

I'm the broker who you will gain Trust Through Transpency. I will not tell you there are rainbows and unicorns during economic highs and lows to get the listing. I will present what I have to offer and leave it at that.

 

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Interest Rates Will Temporarily
Drop This Election Year.

2024 Its an election year and that will mean interest rate drops. We will most likely see 5 drops in 2024.

March will most likely be one. I guessing 25 basis points each drop. You might want to consider a market evaluation on your property before the crazy starts.

And, you'll need to based your value on most recent solds and not a computer generated CAM. I personally feel you need to add my own analysis chart to the computer gererated CMA. We will look at Seller-Buyer Behavior Analysis.

Pulling the right data will help in that evaluation. There are data links out there through NON-COMPUTER generated data to add to your evaluation of value. NOT SIX MONTHS BACK. Six month is what an appraiser goes back to. Prices have dropped since then.  Logan Utah is number 8 in the nation for price drops. Click  St. George #6
Provo #7  Salt Lake City #23

LOGAN...
Year-over-year price change: -3.3% 
Median home price in Q3 2023: $421,000 
Median home price in Q2 2023: $440,600 
Median home price in Q3 2022: $435,200 
Source: National Association of Realtors



What I said in October 2023
The days are long gone for sellers to price their homes at pre sold 180 days data. Its over!!! If you're going to list, it needs to be lower then the sold 180 day data, as of 10-31-23. It's a limited buyers pool and you need to be rational when listing your property right the first time. Don't get stuck on data chasing thinking your home is worth 180 day ago data. I experienced the 1980's, I experienced 2008 and sellers were bringing money to closing, because they were upside down bubble buyers. I'm not going to lead you to think its a beautiful sunny day when I know different based on the indicators, Click


As a buyer's agent and a seller's agent my goal is to help you make rational decisions when the elephant is in the room. Buyer's, make sure you are safe, you may need to stay on the sidelines and hold off buying. If you do buy make offers within your rental budget and the costs involved in the home.

Those selling...
Put yourself in the buyers shoes and think this, would I buy my home based on the terms and conditions I'm trying to sell it at in a screwed up economy. You need to stay current with recent sold data and buyer behavior. Their behavior will be the outcome of their purchase.

And, if you are not thinking like buyers when selling your home right the first time, they'll buy someone elses property.
 

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Let's review the data For Jan 2024...

Check out the sold prices in 2022 and 2023 VS 2024.

What Took place in
January 2024. 66 solds
Click

How about
January 2023. 59 Solds
Click  

How about January 2022. 82 solds
Click

 

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How I Predict The Market.
Click
 

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2023 Year End 
Median Sales Price: $419,686
Average Days On Market: 46
Closed Sales: 1,154

HomeSearchingReport.com
Pricing your home to sell.


Fears in finding a
replacemet home.
NAR

A recent Opendoor survey found that out of all housing market issues, 77% of homebuyers and sellers are most concerned about high interest rates. As a result, many potential sellers are postponing their moves for fear of future affordability woes.

“According to the FHFA national mortgage database, 90%-plus of outstanding mortgages have interest rates less than 6%,” says Amit Arora, vice president of investments for Opendoor. “So there isn’t a huge motivation for many sellers to list.”

This tracks since 72% of sellers also plan to go out and buy a new house, and with current interest rates hovering around 7%, many sellers are afraid to give up their lower interest rate when they sell to then repurchase their next home.

Reality check: The truth is, high interest rates do not need to hold a seller back. For one, if sellers are sitting on any amount of home equity in their current home, selling could make them flush enough to make an all-cash offer (or near that) on a new house, circumventing mortgage rates.

Sellers can also snag a lower rate by buying down their rate with the lender, or shopping for new-construction homes where builders might offer rate buy-downs as well.

Another possible option: an assumable mortgage. True to its name, this is where you assume, or “take over,” the mortgage of the home you’re buying—as well as its low interest rate.

“You may be able to apply with the same mortgage company that the seller of the home you wish to buy uses and see if you can qualify to take over the existing mortgage,” says Jonathan Rundlett, regional owner of EXIT Mid-Atlantic.

What if I sell now, then home prices rise?’

Some sellers might hesitate to list their homes right now thinking that their property might appreciate even more in the near future—and then they’ll be sorry they sold it for less.

At the moment, prices might continue to go up some, but the escalation has seemingly slowed from pandemic times.

Realtor.com predicts only a modest decline in prices of just 0.6% for 2023 as a whole.

So if you’re thinking of selling, you could wait; but you’re not really going to make that much more than if you sold now. That’s because most sellers are likely selling one house and using the funds from that sale to purchase another house. In this scenario, it is not as important to “time” the market to sell at the peak.

‘What if I wait to sell my property until interest rates drop?’

Some homeowners who are likely to sell in the near future are waiting on the sidelines for interest rates to drop because they believe that if a buyer is able to get a lower interest rate, they will be willing to pay more for the house. However, supply and demand play a big role in determining home values, and this might not play out the way sellers imagine.

“Since many people are waiting for this same interest rate decline, there may be a large amount of properties that hit the market at the same time,” says Rundlett. “This increase in supply typically results in a reduction of prices.”

At the moment, however, data shows that there is still limited inventory and great demand for housing, which is why prices have continued to increase despite the higher interest rates.

“There is currently a very limited supply of homes available,” says Rundlett. “So it is likely better to sell your house now, rather than waiting and then trying to sell your house when there are many more properties for sale.”

‘What if I sell now, but mortgage rates rise higher before I buy another home?’

This really comes down to the reason you are selling.

“As I tell clients every day, interest rates do not determine if you are going to sell or buy a new home. What drives your move is far more important than an interest rate,” says Mason Whitehead, a Dallas-based branch manager for Churchill Mortgage.

Whitehead says when people have to move, it is usually for any one of these reasons:

• They have a growing family and need more space.
• They want to move into a better school district.
• They are moving for their job.
• They are moving to be closer to family.
• The are empty nesters, and they don’t need as much space.

“All of these are reasons we move, and whether the rate is in the 6% or 7% range doesn’t really matter relative to your quality of life and family needs,” says Whitehead.

He concedes that affordability is a big issue for his clients, but says it is often trumped by lifestyle needs.

So focus on the reason you are moving and not the rate—if rates drop, you can always refinance. If rates go up, you’ll be glad you locked in when you did.

‘What if I put my home on the market and it sells right away, but I need more time to buy a new property?’

Homes spend an average of 46 days on the market. That’s about two weeks longer than last year, but still shorter than before the pandemic. Since homes are selling faster in general, you need to make sure you aren’t thrown for a loop if you list your home and immediately get offers.

If you think you’ll need even more time, there are ways to negotiate with a buyer.

“You could include a contingency clause that allows you to find a home before completing the sale,” says real estate expert Michael Gifford, CEO of Splitero.

You could also request a closing date that is longer than the usual 30 days to give you more time to find a new residence.

Another option is a rent-back agreement, which allows the seller to stay in the house as a tenant of the buyer for a period of time after the sale is complete.

“Most lenders will allow a buyer to offer up to 60 days for the seller to lease back the property after the sale is complete to give them additional time to find a property and move,” says Rundlett.

‘What if I sell now but can’t find a new home in the area where I want to live?’

This is certainly a risk these days. However, even in a low-inventory environment, there are always some homes available, and depending on where you’re moving, the market might be better supplied.

If you really want to live in the same area and just can’t find another home that fits your needs, you could decide to stay put and instead remodel.

“Consider accessing your home equity to update and renovate your current home to satisfy what you’re seeking in a new home,” says Gifford.

Another option to consider is looking at new construction. While in the past new construction was always thought to be more expensive, today new homes might cost less than resale homes thanks to factors like builder incentives.

In fact, recent statistics show that new-home sales are increasing while the sale of existing homes is dropping, shifting home sales more toward new construction for the first time since 2008.

‘What if my home needs a lot of repairs but I can’t afford to fix them before selling?’

To get the highest price for your house, it is ideal to put it on the market with most items updated and few, if any, repairs needed. Turnkey homes are what most people are looking for, so they create the greatest demand. However, some homeowners do not have the money to update or make repairs before selling.

Fortunately, it is still possible to sell your home as is. And some buyers are looking for properties where they can build some sweat equity.

“But as a seller, your expectations need to be realistic to know that you won’t get top dollar for your house if repairs or updates are needed,” says Rundlett.

If a significant issue arises during the home inspection—such as structural problems or major systems in disrepair—and you can’t afford to fix it but you still want to close the sale, the best option in that scenario is to obtain repair estimates and negotiate with the buyer to find a solution that works for you both.

“You can offer the buyer a credit or price reduction to account for the necessary repairs, allowing them to address the issues on their own after the purchase,” says Gifford.

The buyer will have the option of continuing with the sale or voiding the contract if they have an inspection contingency.

‘What if I list my home and it doesn’t sell for the price I want?’

According to a recent Opendoor survey, 36% of sellers expect an offer above their asking price, whereas 73% of buyers plan to offer a bid below the list price. Obviously, in order for there to be a sale, both sides are going to have to give a little.

Keep in mind that even if you have a sale price in mind, it might not be realistic.

“Research comparable sales in your area to determine if the offers match the current market,” says Gifford. “You may need to adjust your expectations if market conditions have changed.”

If you feel like the offers you’re getting are too low—or you’re not getting offers at all—you might consider improving your marketing strategy by getting professional photographs, virtual tours, or targeted advertising to reach a wider audience.

 

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21 homes sold in 2023
$1,000,000.00
and up. 
Ave. days on market 71.95.
Paid cash  8
Paid conventional  8
Paid other  1
Paid VA  2
Paid owner financing  1

7-21-2023 $1,201.500  cash Millville $212 per sq ft .41 AC

12-04-2023 $1,070.00   conv. Mendon
456 per sq ft 8.65 AC

01-03-2023 $1,000.000  conv Wellsville
$223 per sq ft 3.98 AC



3-30-2023 $1,175.000  cash Hyrum
$196 per sq ft .46 AC

08-23-2023 $1,015.00  cash. Wellsville
$211 per sq ft 2.44 AC



11-01-2023 $1,100.00 cash Providence
$182 per sq ft 1.44 AC



07-26-2023 $1,525.00  conv. Mendon
$228  per sq ft   8.56 AC


06-27-2023 $1,165.00 VA. Providence
$213  per sq ft  .30 AC



11-20-2023 $1,370.00 conv Providence
$203  per sq ft .32 AC


06-15-2023 $1,500.00 cash Providence
$295  per sq ft .32 AC



06-26-2023 $1,300.00  other. Hyrum
$269  per sq ft  9.49 AC


11-28-2023 $1,612.00  VA. Millville
$235  per sq ft .32 AC


06-23-2023 $1,300.00  conv. Logan
$288  per sq ft .58  AC


01-31-2023 $1,075.00  cash. No Logan
$147  per sq ft  .60 AC


12-08-2023 $1,260.00  cash. No Logan
$173  per sq ft .86  AC


11-03-2023  $2,310.00 cash. Wellsville 
$626 per sq ft 22.91 AC



06-21-2023 $2,100.00 conv. Wellsville
$230  per sq ft 6.5 AC



07-06-2023 $1,070.00  conv. No Logan
$156  per sq ft .48  AC



06-08-2023 $1,050.00 conv. Hyrum
$456 per sq ft  35.39 AC



02-24-2023 $1,450.00 Seller financing. Wellsville
$300  per sq ft 6.16 AC 


Ave. days on market 71.95 days

Ave. per sq ft 230.28

Ave. AC 5.25 and 5 of those were over 3 AC's

See Link, Click

 

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Anything pre July 2023 upon request

What sold 7-26-23 to 8-26-23
Click

 

Click Here. 380k and up photos and more of all Solds in July 2023

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Click : 8-17-2022 data compared
to 8-17-2023 data. 
 

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Click Here This report shows sales statistics broken down by month, sinceAugust of 2018. As of 8-10-23
 

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Click: This report shows sales statistics broken down by month, sinceAugust of 2020
 

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Click: 8-15-2022 VS 8-15-2023 data.
 

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Click: Homes that have sold 60 day back from 8-18-23 350k to 450k. If these are the ones that have sold, what are the homes that are for sale now in that range. Click

 

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Additional Data No One Else Is Keeping!
I Have Been Keeping This Un-used, under the rock Data Since 1997.  Pre-2020 All The Data Averaged Out To Be... 85/15

Post 2020...  90/10

Just in the month of July 2023,
the rato was 99.93 / 0.07 

30 days back from 8-20-23
99.96 / 0.04
7-20-23 to 8-20-23

Why the change?  1. Web technology post 2020, 
2. Sellers have become smarter post 2020. 3. The weird state of housing market.  These numbers are real, and if you clearly understand the ratios you will save thousands of dollars at closing. See video with password below
 

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What's on the market as of today!
Total number of properties on the market today, Click Here
 

Access all the listings. Listings that find you, ListingsThatFindYou.com

Understanding UtahRealEstateForms.com