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Utah Dave - Utah Homes for Sale

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Currently there is a 22% chance of Selling in this Area and Price Range this month.

Currently it would take
5 months to sell.

All the time people come to me and say, "I know you don't have a crystal ball, but..." then they ask me a series of questions about the Real Estate Market. Based on all the statistics we have this report can tell you many things about the Real Estate Market in your area. 

If you would like to receive frequent reports on the market in your area click here: Free Market Snapshot

Here is a glimpse into my crystal ball!

22%

5

6

2

1

Currently there is a 22% chance of selling your home in this area & price range this month.
Increase your Odds to 100% Click Here.

If demand for homes continued at the same rate and no new homes entered the market it would take 5 months for the entire current inventory to sell. A normal market would have 4-6 months of Inventory. A sellers market would have less months of inventory and a buyers market would have more than 6 months. These numbers give you your chances/odds of selling if you were to list with any random real estate agent. However, these numbers are used for analyzing market data to help predict the market and they should not be relied on to make decisions. There are many other factors to consider and there are ways to increase your odds to 100%.

There are 6 homes for sale in the 84108 zip code in the price range of 100k - 200k. Last month there were 2 homes sold in this area and price range and 8 homes sold in the last 6 months for an average of 1 home selling a month. Currently there are 2 homes pending a sale. (Pending homes could include lease options and may not depict an accurate picture of the market.)

How would you like to increase your odds to 100% and sell in the timeframe you want? Beat the odds and sell your home. Yes, you can make money in Today's market or any market! The numbers above aren't set in stone. These numbers tell us a story and help us analyze and strategize on how to sell your home. If someone was to put their home on the market today with a random real estate agent this would be your odds. However, whatever the percentage number, you can increase your odds in your favor and sell your home! It is rare that any two homes are the exact same in colors, style, and upgrades. Have you ever walked into a home that was exactly like yours with decor and everything? I haven't yet! Increasing your chances means evaluating your home inside and out , understanding today's market, and how to strategize to increase your odds. Click here for a Free No Obligation Evaluation of your home on how to increase your odds and sell your home.

A. Is this Crystal Ball analyzing my home if I were to lower the price from say $300k to $150k for an example?

No, This Crystal Ball is not analyzing if you were to lower your price. If you were to lower your price on your home from 300k to 150k you definitely would have 100% chance of selling. This crystal ball doesnt analyze that with your property specifically. We have to analyze personally and manually not with automatic calculators. This Crystal Ball is analyzing the market as to how many homes are on the market and selling in any appraised price range and area. Just remember this is analyzing the category as a whole, not your personal home. It's a generalization. This is the market's story. We can analyze your home personally . Our in home analysis is free to you with no obligation.

B. If my home shows low numbers does that mean it is a bad time to sell?

The numbers dont say whether or not you should sell. The numbers give you the odds of selling with any random real estate agent or company. By evaluating the numbers we come up with strategies to sell your home and increase your odds to 100%. Every set of numbers require different strategies! . For many people it could be a very good time to sell or it might be bad. For every person its different depending on their home and situation. Whether or not now is a good time for you to sell depends on many other factors such as, where are you moving to? Are you moving up or downsizing? What area and price range will you buy? What are your current payments and interest rate? Why are you moving? You can definitely sell in a market that is saturated and still make money. You can make money in any market. The numbers just help us predict timing of selling your home, how to increase your salability and price accurately. The numbers also help us know where you can buy to make the most money. The numbers do not mean don't do it. The numbers mean what is the strategy! They tell you a story on what paths you need to take to reach your desired destination. We have helped many clients come to a decision on whether or not to buy or sell. Our clients love our honesty and how we show them whether or not today would be a good time to sell or when it would be a great time. There are people who we advise to stay put too. We help our clients read the numbers and understand the story .

C. Dont make a Big 'Zillow!' I looked up my house value on www.Zillow.com and it said my home was worth 'x' amount of dollars.

You might hear me say something like 'Don't make a big 'zillow.' (Blooper or mistake.) Zillow is notorious for giving people what homes are worth in their neighborhood. So is Zillow accurate? Utah is a Non Disclosure State. That means property owners/homeowners in Utah aren't required legally to tell the state the amount they bought the home for. It isn't public information. So Zillow really makes guesstimates on what your home is worth. Not only do they make guesstimates but their data is easily a year off. They gather information from tax records which you know isn't accurate if you ever read your tax assessment information. I have met people that bought a home based on what they thought they could sell their home for due to Zillow. Now these people are eating two house payments and are losing money. A couple of these people's house values were 40k too high on zillow. How far off is Zillow usually? Sometimes they might be on, low or even high. I have a client whose home on zillow is 2.2 Million....when their home is worth probably 315k. Plan appropriately on buying and selling a home by gathering accurate data. You can find out what your home could sell for for FREE with our in house no obligation analysis.

D. Does this information include For Sale By Owners?

No, this number is based solely on selling a home with real estate agents. The data doesn't include for sale by owners. This data is 10x less.

E. What would my number be if I sold my home on my own?

Your number would be 10x less than the number above. Meaning if you had a 10% chance of selling with an agent in any given month, you would have a 1% chance selling on your own.

F. What about Buying a home, does this information work when buying a home?

YES! This information works when buying a home as well. For instance, if you see an area where the market is saturated, that might be a good area to find a distressed property where someone has to sell which in return gives you a bargain of a buy. When you see a home that is in a sellers market this would guide you to make higher better offers before other buyers beat you to it. Where some homeowners wait till sell their home for them to get a higher price...they actually lose money by waiting. These numbers help people understand that they can sell their home even for less than it appraised and still make money on what they buy. Remember, that you need to analyze each property individually according to condition and location.

G. Dave, I hear from many agents that homes arent selling, is this true?

Lets take a look at the numbers and see why this is the case. Today in Salt Lake County alone, there are 9,000 real estate agents. There are only 1000 homes selling a month during 2nd Quarter of 2008. There is a rule in real estate that 10% of the agents do 90% of the business. That means 900 agents are selling 900 of the homes. That leaves 8200 agents trying to sell the other 100 homes. So if you were to ask 9 out of 10 agents how the market is doing, what do you think their reply would be? They would say not good because 8200 agents arent selling any homes every month. That is why you may hear the market isn't good. The reality of the Utah market is that we are prime for growth and will grow. Yes, sales are down from our busiest years in history. But the amount of homes selling is the same amount that were selling in the 1990's. And we have made it to where we are today since then. We will keep growing. Homes are selling and its a great time to build wealth. It is my favorite time of the market to build wealth.

H. Dave, how are you selling so many homes?

Answering that question has always been tough for me when people ask. First, it is a question that seems to give me credit where credit is really due to all the people around me. Second, there isnt a simple secret. People may have called me Utah Dave since High School but I really credit the number of home sales to surrounding myself with awesome people who inspire, motivate, and help me in every day life. The Utah Dave team is Utah Dave, not just me. My personal belief is that when you have passion to do something, and you are proactive in doing it, and you are persistent to accomplish it, it will happen. I have been blessed to have so many great people work with me on my team. I have been blessed to have such great amazing coaches and mentors. I have been blessed to work with such great clients and friends. It really boils down to working with the right people and embracing the 3 p's, passion, proactive, and persistence. You got to have all of those ingredients. The second part, is that there isnt one secret to success. If that was the case all would be successful. You really have to take all the right steps. I learned this when I met my wife. My wife had been hit in the head dancing with a guy on the dance floor before we got married. She didnt want to dance with him anymore. Sure he had one or two cool moves, but he didnt know all the right steps. Luckily, I had learned many dance moves country swinging. After dancing with her once, we became dance partners for life. Kind of a funny cheesy story but it holds a lesson in anything I do in life. You cant just do one thing great, you need to learn all the right steps for success. My apology if anyone was looking for one secret to selling many homes. This paragraph is the foundation to selling many homes. If you were to keep using that analaogy, building a structure to sell many homes is like building a house in need of constant remodeling to keep up with the changing times. It's a never ending ongoing process. It is fun.

Utah Dave Locations:

Salt Lake City Office
480 East 400 South
Salt Lake City, UT 84111
Servicing Salt Lake City and Davis County

South Valley Office
10380 S. Redwood Rd
South Jordan, UT 84095
Servicing Salt Lake and Utah Counties

DAVE ROBISON, Principal Broker, ABR, CDPE, CRB, CRS, e-PRO, GRI