The real estate market moves in cycles. For the last several years, many of us in the industry have been waiting for the market to reach its top and then move in a different direction. The ebb and flow of the market is as natural the sun rising and setting, although, it is much less predictable. But, despite the difficulty in predicting timing, we can spot signs along the way that tell us what is happening and where we are in the cycle. Today’s chart shows us that we […]
... Read MoreI recently was invited to present to the Northern Utah Real Estate Investors Association which holds monthly meetings on Ogden, Utah. To inform our audience, I updated many of my market charts and presented this latest information to the group. We had a lively discussion and talked about many issues relevant to real estate investors who are seeking to increase their wealth.
... Read MoreMay turned out to be a very interesting month with Northern Utah real estate values declining in Spring in a meaningful way for the first time in 7 years. Learn more about what is happening in the market and why things might be changing in the future.
... Read MoreHouse Prices have been increasing dramatically for a long time now. Many people are asking when things will change. I took a deep dive into the market data and came up with some surprising answers. Check out the video and see if you agree with me on why and when I think a change in our current market dynamics will occur.
... Read MoreAs an experienced real estate investor and real estate broker, the current flip frenzy going on in our market has caused me to worry. As a proud survivor of the Great Recession (i.e. Great Housing Depression of 2008-2012) today’s market activity is giving me flashbacks to the crazed buying fever that dominated 2007. While today’s market is fundamentally much healthier and less risky than it was in 2007, there are some unhealthy aspects of today’s market that threaten buyers particularly. The issue at the forefront of my mind right […]
... Read MoreThe Ogden real estate market continues to sizzle. It has been so hot for so long now that memories of a buyer’s market have faded into the realm of myth and legend. But, seasoned agents like me can tell you, this won’t last forever. So, when exactly will a change come? Its anyone’s guess. In the meantime, we can look at these charts and get a sense for where we are in the market cycle. This chart shows the average time that a home sits on the market before […]
... Read MoreAs the year wraps up, it is apparent that 2017 has been a banner year for real estate values. Prices have surged 15.5% in Weber County. Sales times reached record lows over the summer. And buyers continue to outnumber sellers and create bidding wars at every turn. Yet, it feels like there is a change coming in the market. Interpreting the signals is proving to be a little harder than in the past. I will explain why. But first, here are the charts. First, here is […]
... Read MoreI had the opportunity to present to the Northern Utah Real Estate Investors Association to discuss current market conditions and how investors can find investment opportunities now and in the future. The presentation started at 6:30 and ended at 8pm. We had a crowd of about 20 people and mingled for another hour after the presentation. It was a great place to network and meet like minded individuals. If you are interested in a copy of the presentation slide show .pdf, CONTACT ME, and I will email a […]
... Read MoreThe seller’s market has had a long run and may not be over. But, if we look at the signs, a change may be just around the corner. Let’s take a look at house prices in Weber County over the past 20 years: What you see here is pretty obvious. House prices have far exceeded their 2007 peak from the real estate bubble years. That may sound scary at first, but when you consider that everyone that has been buying a home since then has had a […]
... Read MoreThe real estate market enters Spring of 2017 as a white hot sellers market. While the number of sales remains at historic highs, the days it takes to sell a home is been at record lows. This translates into a near record low level of inventory for homes on the market. The competition among buyers to purchase a home for sale is fierce. To see how lopsided the market is in favor of sellers, lets take a look at inventory levels in Weber and Davis Counties. […]
... Read MoreIs Utah’s housing market overheating? Based on historical charts, it seems that it’s a good question to be asking right now. In the third quarter of 2016 (ending September) house prices in the Ogden-Clearfield Metro Statistical Area increased 1.86% from the previous quarter. They are up 7.66% over the past year and a whopping 26.4% from 5 years ago. Certainly, it has been a great time to own real estate. But how long can these month-over-month increases in property values continue? The above chart shows an inflation adjusted […]
... Read MoreHouse prices have been on an unprecedented tear this past year. Much of this has to do with the timely convergence of low interest rates, a booming local economy, and in-migration of people from other states. So for fun (and I use that word liberally here) I did some number crunching to see how interest rates have behaved over time and how house prices have responded in kind. Join me as we go on an odyssey back in time (like 8 years ago) to see if we can glean a few […]
... Read MoreThe real estate market has been on an unprecedented run this year. A surging local job market combined with limited inventory has pushed all of the normal market dynamics to extreme territory. Buyers know this as homes they pursue are snatched up before they can even submit an offer. Sellers know this because they are smiling all the way to the bank. The anecdotes are compelling but the charts really tell the story. Lets take a look at a few: First, lets take a look at what residential real estate values […]
... Read MoreIf you live in the Ogden area and feel like house prices are a lot higher than they were a couple years ago, you would be right. House prices continue to spring upwards as the jobs market is red hot and there are more buyers in the market than there are sellers. Such conditions put sellers in control of market pricing and this latest run has put home prices in Weber County higher than ever before. To illustrate the price movements, here is a chart of two Ogden neighborhoods. One is […]
... Read MoreOur brokerage has an excellent track record of screening and placing well qualified tenants in the rental units we manage. Many of our clients choose us over other property management companies due to this reputation. However, when we assume management of a property with existing tenants in place, we often have to replace under-qualified tenants as they start to under-perform. We had such a situation occur this past month. On February 1st we assumed management authority for a rental unit on Harrison Blvd. in Ogden. We quickly placed a […]
... Read MoreVesta Real Estate | Ogden, UT 84401 | office@vesta-real-estate.com