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Nancy Stukan sells Utah Real Estate
With interests rates still at or near all-time lows--but anticipated to rise in the months ahead—the timing is right to take advantage of good buys in the northern Utah real estate market. Dramatic price reductions in all sectors of inventory—lots, condos, and single-family homes—have been fueled by foreclosures and short sales, with prices falling even for luxury developments in the Ogden Valley. Because a short sale requires the Sellers' lender to approve a sale price below what the Seller currently owes on their loan, purchase of such a property can be a frustrating process for both Buyer and Seller. It can take days to weeks for a lender to respond to an offer, and a Buyer may spend considerable time waiting to see if their offer will result in an accepted contract--only to have a lender refuse to approve a sale price and/or proceed with foreclosure. The ideal Buyer in a short sale transaction is in no hurry to purchase a property or move; has financing readily available--as well as access to a few thousand dollars more, if needed at the last minute; and has the patience to wait weeks to months with the knowledge that their offer could fall apart at any time. The reward can be great, if a property is purchased at or below current market value; or the process may amount to an exercise in frustration. Unlike a short sale, ownership of a foreclosure property has reverted to the bank. While foreclosure properties may be a great deal, this is not always the case; and allowing me to check sales of comparable properties can help you make that assessment.
Check Out Our New, Improved MLS The techies have put together a new, state-of-the-art MLS website which was launched in late February 2010, benefitting both clients and agents. New tools include mapping capabilities to pinpoint property searches, if you're interested in a specific geographic area. If you’re not already aware of the Hotsheet system, it allows me to set up an automated report that will come to you directly from the MLS--with any new or updated listings that fit criteria you’ve specified--allowing you to keep abreast of the available inventory. For additional details, contact me at (801)-866-2848 or living@NancysEden.com.
Come and see for yourself! Visit the Ogden Valley. Don’t miss the up-to-date market information in my Ogden/Ogden Valley Market Update, and SIGN UP if you would like to be on my e-mail list for future market updates. I specialize in Real Estate in the Ogden Valley, Ogden, Snowbasin, Powder Mountain, and Wolf Creek areas of northern Utah and look forward to working with you whether you are selling or buying property. Please contact me to let me know how I can serve your real estate needs.
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