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2014-04-17 08:19:16
Less Homeowners Underwater Hurts Buyers Market

 

Cnn reports that surging home prices across the U.S. has brought nearly 2 million homeowners out of being underwater on their homes. With this being great new for homeowners and those looking to sell, it isn't the best news for those looking to buy.

Buyers are finding it harder and harder to find a home that fits there budget let alone trying to find a home that's a great deal! If you are one of those people in the struggle to find a home that isn't snatched up right away you'd better not wait much longer, because the future looks to be a lot more competitive.

Here in Utah I have noticed that with so many developers leaving the scene after the crash we are having a loss of developments currently, which is relating in a very competitive market for people trying to build and find a lot. When people find out that it is too expensive to build right now due to low inventory of lots they are flocking to the existing housing market and driving those prices up.

Developers are slow to get back in the game after taking the beating they took during the recession. Some I think even called it quits and threw in the towel. With that being said for Utah, the future is looking like less lots, more buyers, and higher prices.

Best thing you can do right now is get a good agent and have them put you on an auto hot sheet that sends you new listings at 9 a.m., 3 p.m., & 8 p.m. and make yourself available to see a home the second it comes out. When you find a home you like go in strong and fast. Do your best to avoid multiple offers by making the offer quickly and as close to list price if not at list price.

Don't get discouraged. Just stay determined.

 

Find Your Utah Home Fast

 
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