Looking back to predict what the future may bring.
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1. A Look Back at 2012!Good year!Can it continue?
2. 2012 by the numbersData is from the WFRMLS. 3. Are you better
off than in 2007? Solds close to 2007. Short sales haveincreased.
Investors are back. FHA is a big player. Seller financing up but
not a big player, samewith Lease Options 4. 2012 compared to 2011
11% = increase if average value 24% = increase in homes sold 20% =
increase in total dollar volume 14% = decrease in Days on Market
21% = decrease in dollars/sq foot.. 5. Multiple offers abound More
people looking to buy. Values are increasing. It puts people back
to work. Harder to get a good deal. Have to pay more thanyou want
to 6. Example of how crowded it is $103,950 = Asking price $160,000
= estimatedvalue after remodel $107,000 = Offer price $25k-$30,000
= estimateto fix the home up 25 = Number of bidders $130,000 = Sold
price 7. Time out, re-group.. After losing to multiple offers
several times. Looked at 7 that had sold. 6 of 7 went for cash. 5
of 7 sold for $10,000+over list price. No seller concessions.
$70/sq ft was average. DOM < 17 days 8. Whats it like right now
Inventory is still down. Multiple offers persist. Interest rates
willbe moving up. Underwriting will still be tight. There will be
no help from thepoliticians 9. Good time to buy?This graph
represents 26 years of dataGraph is from www.homepricegraph.com 10.
How is rental market The vacancyrates are down. The rental ratesare
still rising. 4% last year andlooks like moreof the same this year.
11. Best to keep perspective My first home. 1971, New Jersey.
$22,500 with 10%down. $335,000 presentvalue today 12. What happened
since 1971.. 1977 Jimmy Carter (18% interest rates) 1990 1st Gulf
war 1995 Oklahoma City 2001 9/11 - Twin Towers 2003 War with Iraq
2005 Katrina 2007 Real Estate collapse 2010 Federal debt sky
rockets 13. Looking at our options Leave our money in weak returns.
Work more hours, hire morepeople, get a second job. Take advantage
of this oncein a lifetime dip in real estatevalues and interest
rates 14. Any questions...Craig PattbergRealtor and InvestorRealty
Solutions of UtahRPM [email protected]
