Today’s subject is VERY interesting to me, both as a Realtor and as a home owner in Utah.
Investors from all over the country are flocking to Utah to invest in real estate.
Investors analyze many things before buying, but the top three factors they will consider in any given area are job growth, population growth, and sustainability. And would you guess it? We hit the jackpot-Utah ranks very high for all three!
Nationally, we have a more balanced market. Some areas are even struggling- but here, we have a hot local economy!
So, investors come here to spend their money.
What does this mean for our local Utahns? It means that home values will continue to rise (not as much as last year, but they are still going up!). Interest rates dropped below 4% in June 2019, which will likely send even more buyers looking for homes. This, combined with interested out-of-state investors, makes the next little while very interesting for real estate.
If you are on the fence about buying or selling your home, act quickly before this perfect set-up ends. It’s cheaper to buy a home now, due to the interest rates -BUT- there’s competition with investors for homes and it looks to get even more competitive. This motivates you to buy before values get out of your price point! It also makes it a great time to sell with the number of people looking for homes.
Questions on how this all affects you, personally? Feel free to contact me- email, text, call, message- whatever works for you!