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Tips on completing the Complaint Form Utah Division Of Real Estate Utahgov Realestate Utah

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Steps of Customizing the Complaint Form Utah Division Of Real Estate Utahgov Realestate Utah

this is the Utah housing market update.for May hi I'm John Austin I'm the.principal broker at America's best real.estate in Salt Lake City Utah so in this.video not only am am I going to explain.the current real estate market but I'm.going to show you the math behind the.supply and demand and inventory and how.it affects this current market and.affects where we are headed so that's.going to be really informative but even.better than that I've got something.special for you on this episode I'm.gonna show you what you really need to.be informed about your home and your.subdivision so this is a huge report.that you can get made specifically for.your house and your subdivision and get.it sent directly to your email without.any obligation and actually without even.talking to a real estate agent I'm gonna.have a link in this video that you can.click on and you can get this sent to.you you're gonna want to do that it's a.really really great report so stay tuned.there's a lot of good information here.[Music].before I start I'd like to ask that if.you like what you see here that at the.end of this video if you'll hit the.subscribe button and then the bell it's.gonna allow you to get notified each.time I come out with a new video so.every month when I come out with a new.market update you'll be the first to.know in fact all my new videos you'll.get notified on including any time I.come up with a new listing you'll be the.first to know so with that said let's.get on with the market report let's.first look at the residential first.quarter comparison now we all know that.the real estate market here in Utah has.been great for sellers for many years.now and buyers have been having a tough.time because of the low amount of homes.for sale and lots of competition from.other buyers to buy those homes well.because of the laws of supply and demand.the prices have been going up and as we.see here looking at the statistics for.Salt Lake County single-family detached.homes the appreciation rate has been.almost 11% in the first quarter of 2020.versus the first quarter of 2019 and.that's all due to supply and demand and.what's known as the absorption rate.so people continue to move to the Salt.Lake City area in record high numbers.year after year because of our great.economy lots of great jobs here and a.wonderful lifestyle there's so many fun.outdoor things to do here all year round.I tell you the secret is out folks and.people are moving to Utah for a better.way of life and that's not going to.change but what does change is the.absorption rate and the inventory so.it's important that you understand the.absorption rate what it is and how it.affects the market so the absorption.rate is the ratio of the number of.properties sold to a given length of.time and it's calculated by the number.of homes sold divided by the number of.months so this is really important.because it helps us to understand how.much inventory we have an inventory is.the supply in the supply and demand.effect on home prices so by.understanding this supply versus demand.and knowing the absorption rates and the.inventory an experienced agent knows.what's going on in the market and where.the home prices are actually heading so.now let's take a look at a chart on the.months of housing inventory and how that.causes a buyers market a seller's market.in a neutral market so as shown here in.the area in gray when there's between.six months and seven months of inventory.we're in what's considered a neutral.market with lots of homes to choose from.and homes that are properly priced are.selling in a reasonable period of time.when there's more than seven months of.inventory as shown in the red area we're.in a buyers market with lots of homes.available and buyers can easily find a.deal now when there's less than six.months of inventory as shown in the.green area we're in a seller's market.and the deals are harder to come by and.the lower the number the greater the.seller's market okay now with that.understood let's take a look at our.current market statistics to see where.we are on the chart right now.so if we look at the chart for the.statistics of Salt Lake County detached.single-family homes we see that we.currently have fourteen hundred and.thirteen homes for sale with 1234 homes.under contract and 1659 sold in the last.two months so when we do those.calculations we get a market absorption.of fourteen hundred and forty six homes.per month in an inventory of just a.little over a month but the true number.is actually a little less than that.because see this calculation is not.taking into account that most of those.homes that are under contract will close.escrow so our months of inventory is.really just one month not 1.19 we can.check this with the calculation our.current absorption rate for Salt Lake.County detached homes is fourteen.hundred and thirteen homes for sale.fourteen hundred and forty six homes.sold in the last 30 days so well so we.only have one month of inventory so now.let's look back at our chart showing the.months of inventory and how that affects.a buyers and sellers market we can see.that with only one month of inventory we.are in an extreme seller's market so as.you can see we are in an extreme.seller's market now will the market slow.down a little bit because of all the.things that are going on in this economy.they may but will the laws of supply and.demand change what's going on here and.Utah no they're not going to change we.are still in an extreme seller's market.and even if we go from a one month or.two months supply to a two or three or.even four month supply of inventory.that's still a seller's market so it may.slow down a little bit but it's still.going to be a seller's market here in.Utah for a while so I'll update you.again in a month with any changes that I.see coming now to the good part let me.show you what you really need to be.informed about your home and your.neighborhood this is going to be a great.report that's going to be made up.specifically for your home and your.subdivision it's full of really really.great information and I'm going to show.you how to get this sent directly to.your email.you're not gonna have to talk to anybody.you can just get this sent to you and.you can save it on your computer and.look at it anytime you want so first let.me show you a few things that are inside.this report so this is a sample of what.you'll get sent to your email now keep.in mind this is just a sample yours is.going to be catered directly to your.house so it'll have a photo of your home.and your address and all the information.in here will be about your house so.there also will be a contact information.page here in case you wish to reach out.to me I'm John Austin I'm the principal.broker here at America's best real.estate so my phone numbers on there as.well as my social media links if you.want to reach out to me on social media.plus my youtube channel I hope you're.liking this YouTube video I'm I've been.in this business 30 years but I'm new at.YouTube and so this is this is something.new to me I hope you're enjoying this.okay so on to the comparable sheet this.will have on your map there'll be a in.blue they'll be where your house is and.all the ones in red will be properties.that have sold in and around your your.neighborhood there'll be the MLS numbers.of those homes their addresses how many.bedrooms baths square footage and the.price that those properties have sold.for the next page will be a little bit.more summary as well as the price per.square foot of all of those homes and.then a detailed page after page after.page of all of the listings all of the.properties that not just listed but the.properties that actually sold and closed.escrow because these are the ones you're.gonna want to compare your home to so.let me back up here just a moment so.we'll look at that we'll take a look at.one so this one here on Hartford Street.for example this is what you're gonna.see is you'll see pictures of the homes.where they are on the map MLS.information about the subdivision and.how many square feet the home is how big.the lot size is for this particular.house what their taxes were and and.details about the home so you can.compare it to yours and then there's.going to be a large remark section and.this is lots more details about maybe.what upgrades were done to this.and the condition of it so that'll help.you also compare these individual homes.to yours and then also there'll be.photos detailed photos of the home again.another good way to compare your house.to these other properties that sold and.how much they got for their homes so.this will be page after page after page.of homes that have sold in your area in.the last six months so let me scroll.through this quickly I'm going to get.through a lot of this information.there's tons of information in this.report so we'll go down to some more at.the end an analysis so then it'll give.you what the lowest price home is in the.last six months the highest and what the.average was what their average price per.square foot and how many days on the.market it took so days on the market is.how many days the property was on the.market from when it was listed to the.time it went under contract they'll also.be a little more in-depth analysis.talking about how their their average.price and compared to what they listed.for what they sold how many days on the.market and just lots more details and.then there's going to be quite a few.more information sheets just to give you.a lots more information about what's.going on in the neighborhood as well as.suggestions and guidance so that's it to.give you an idea of what this reports.like these reports will average.generally a hundred to 150 pages of.information and I think you're really.gonna like it I really really do so if.you'd like your own copy of this.analysis done for you for your home and.your neighborhood then you don't have to.talk to anybody I'm gonna make this.really easy for you all you have to do.is go to the link down in the.description below and click on that and.you'll get it sent to your email now if.you happen to be watching this video in.in some website that doesn't have that.link or description I'll give you.another way here's my personal cell.phone number I'll put it right here.just send me a text that says I saw your.video on the CMA and I would like one.sent to my email so just say I'd like.well I'd like a CMA and send me a text.with your email and I'll get that sent.off to you I hope you enjoyed this.market update and the information that I.gave you here today and if so would you.please do me a favor.and spread the word on social media tell.your friends about my real estate video.channel I'm new at this and I'm really.needing your help to spread the word so.if you liked it again please subscribe.right here and be sure to hit the bell.and then you'll get notified of next.month's real estate market update so.that's about it for today here's my.phone number.if you'd like to give me a call I would.love to help you help you to get an.unfair advantage in your next real.estate transaction thanks so much I hope.to see it for next month's market update.

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