Feds just raised the interest rate by .75%, but let me tell you what this doesn’t deter me from buying a home. 

Here’s the strategy:

As interest rates are increasing, home prices are dropping, though their values are still appreciating.

There are 9,905 homes on the market. Homes are on the market for an average of 21 days. Sellers are buying down interest rates, lowering prices and including amenities in order to try to sell their homes. 

Now, rates should come back down in 2023. 

Here’s the math: 

With the higher interest rates and the cost of refinancing next year, you’ll maybe take a $7,000 hit and that’s just shouldn’t be cost prohibitive when you think of the lower prices we’re seeing now and the appreciation we’ll see in the near future. Forecasts show Salt Lake City real estate on track to be the next Bay Area. 

Wealth means having a “never renting mindset.”

Call me with any questions 801.243-4544. I’m here!

Thanks for tuning in.

Check us out at :

https://www.primerealestateexperts.com/

Welcome back to another episode. I’m here for you with a market update. There are 9,663 homes live on the market today. The market is amazing. Supply and demand is steady.

And since I get this question on the daily I want to answer it here for you. 

Q: What is happening with home prices? 

A: Tune in to hear the distinctions between appreciation, depreciation, and deceleration. Right now we are in a deceleration. Home prices continue to appreciate but at a slower pace. That’s what’s happening in our market today. 

And, important to note is that the new build pace is right where it needs to be as well. We are still seeing housing shortages.  

Back to the process of buying a home: OK now to your finance and appraisal deadline. 

Listen in to learn the process of making an offer, your earnest money, your commitment level and the “outs” that you have as the buyer has before the appraisal deadline. I also go over the purpose of the appraisal, why the bank orders it and how it protects buyers.

Call me with any questions 801.243-4544. I’m here!

Thanks for tuning in.

Check us out at :

https://www.primerealestateexperts.com/

You’ve signed the Buyer-Broker Agreement and now you’re buying a home. 

The next step is to get seller’s disclosers. The seller has to tell everything they’ve done to the property. 

Now, we also make sure to get an official home inspection done just in case the seller doesn’t disclose something important. These home inspectors aren’t licensed but they do a very thorough job with the inspections because they are liable to tell us anything and everything about the property, and the inspection includes a walk-through. 

I’ll also cover Radon tests, how they work. Stay tuned for upcoming episodes with guest experts in inspections and testing!

Call me with any questions 801.243-4544. I’m here!

Thanks for tuning in.

Check us out at :

https://www.primerealestateexperts.com/

What you should be looking for in buyer-broker agreement? Let’s get right into it!

The buyer-broker agreement is not an agreement with a specific agent. It’s an agreement with the brokerage. 

You have to sign one before the agent can write the offer. 

The buyer-broker agreements are intact until the end of the year. 

My recommendations:

Don’t sign a buyer-broker agreement until you find the house you want to buy.

I offer an addendum that will cancel the buyer-broker agreement for you. Ask for that if you can!

Today we also cover some important terms and commission percentages you’ll need to understand and what you need to know about inspections. 

There are 9,600 homes on the market now. Let’s talk about how you can buy one!

I know that you think you’re saving money by living at home, but let’s break it down… just to make sure.

I want to get to know you and your specific situation, but in the meantime, just as a jumping off point for our episode today, let’s say that instead of a $2,000 mortgage payment, you’re living at home for free and saving $2,000 per month in a savings account. 

What’s missing from this formula?

What are your other options?

Are you actually losing money? 

Happy to answer any questions, so come find me at :

https://www.primerealestateexperts.com/

Despite the market being a wild ride, Utah’s housing market is expected to stay strong. With more sellers coming to the market and an increase in inventory, people are able to actually buy and negotiate prices to get the properties they want. This episode will discuss were Utah’s market is and how that compares to the rest of the US, along with which property prices are rising and which are dropping. 

Read more about Utah's Housing Market in the State of the States Housing Market Report by Kem C. Garnder:

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://gardner.utah.edu/wp-content/uploads/StateOfState-Oct2021.pdf

Thanks for tuning in.

Check us out at :

https://www.primerealestateexperts.com/

As prices rise and the economy crumbles, is right now a good time to be buying real estate? In this week’s episode we will compare how recessions have impacted the real estate market in the past and predict where the housing market will go next. Despite the fear of losing money that comes with buying a house right now, it is still possible to net a profit and build a portfolio.

Happy to answer any questions, so come find me at :

https://www.primerealestateexperts.com/

Today I’m interviewing Josh McReavy. Josh is the owner of Ultimate Home Lending and he’s here to talk to us about interest rates. We know you’re carefully watching interest rates right now so let’s talk about what we expect to see and how to take advantage of these patterns. Oh and Josh has a great tip for those of you looking to get pre-qualified so definitely tune in!

Happy to answer any questions, so come find me at :

https://www.primerealestateexperts.com/

Learn more about Josh McReavy.