How Much Has Your Home Home Increased in Value?
DISCLAIMER: A Home Valuation report is not a substitute for a Real Estate Appraisal in purchase or refinance transactions. Home Valuation report is only available for homes in Utah.
How Much Has Your Home Value Increased?
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available).
New Home Prices Second Quarter of 2018
For Sale By Owner (FSBO) Statistics
- FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales.
- FSBO methods used to market home:
- Yard sign: 35%
- Friends, relatives, or neighbors: 24%
- Online classified advertisements: 11%
- Open house: 15%
- For-sale-by-owner websites: 8%
- Social networking websites (e.g. Facebook, Twitter, etc.): 13%
- Multiple Listing Service (MLS) website: 26%
- Print newspaper advertisement: 5%
- Direct mail (flyers, postcards, etc.): 4%
- Video: 2%
- None: Did not actively market home: 28%
- Most difficult tasks for FSBO sellers:
- Getting the right price: 15%
- Understanding and performing paperwork: 12%
- Selling within the planned length of time: 13%
- Preparing/fixing up home for sale: 9%
- Having enough time to devote to all aspects of the sale: 3%
Over 31% of Income Goes to Housing in Utah
Utah ranked No. 10 in a national study of states with the highest housing costs. Housing expenses in Utah take up 31.71% of the median monthly income. This may surprise residents, as home prices have surged since the COVID-19 pandemic began. Many prospective...
Tips for Selling Your Home After the Holidays
Post-holiday market activity shrinks inventory and boosts buyer interest—price competitively to maximize offers. Declutter, depersonalize, and keep your home clean inside and out to make a great first impression
Why Renters Insurance Is a Must-Have in 2025
Renters insurance is crucial in 2025, offering essential protection for tenants' assets and liabilities. It covers personal belongings against theft, fire, and natural disasters.
Social Security tax to be cut for Utahns making $90K or less
Utah lawmakers are proposing tax reductions for the fifth consecutive year, including eliminating the Social Security tax for older residents earning $90,000 or less and reducing the income tax rate from 4.55% to 4.5%. They aim to provide $127 million in tax relief,...
5 Ways to Pay Less in Taxes on Real Estate Investments
Keep detailed records of all property expenses, including rent, maintenance, and insurance, to support tax deductions.Use the 1031 exchange strategy to defer 100% of taxes by reinvesting in like-kind properties legally.
Utah’s 2024 economy broke records, but can 2025 growth keep up?
In 2024, Utah's home prices reached near-record highs despite a slight drop in 2023, while high mortgage rates hindered new buyers. The state's economy grew, with a population increase of 1.5% and job growth at 1.7%. However, unemployment rose to 3.1%. Over...
Staged Property: The Hidden Risks
Staged Property: The Hidden Risks - Buyer Beware In the dynamic realm of real estate, the allure of staged properties often captivates potential buyers, presenting spaces in their most attractive light and promising a dreamlike living scenario. However, beneath the...
Buying a House With Tenants? Know Your Rights
If a lease exists, it remains valid, preventing rent hikes or evictions until its term expires. Want tenants to move out? You must negotiate, buy them out, or ensure vacancy before purchase.
Smart Timeline Strategies for Selling Your Home
Selling a home takes 8-12 weeks, including 1-2 weeks for prep, 3-4 weeks for listing, and 4-6 weeks for closing. Preparation is crucial; allocate 3-5 days for decluttering, staging, and 1-2 days for professional photography.
SCAM ALERT: Fraudulent Tax Collection Letters Targeting Utah Taxpayers
The Utah State Tax Commission warns taxpayers about a fraudulent letter circulating in Utah, falsely claiming unpaid state taxes. The letter resembles an official notice and threatens legal action if payment is not made. Taxpayers are advised to verify the...