What You Need to Know About Private Mortgage Insurance (PMI) Courtesy of Utah Realty
Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).
What is PMI?
Freddie Mac defines PMI as:
“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.
Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”
As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:
“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.”
According to the National Association of Realtors, the average down payment for all buyers last year was 13%. For first-time buyers, that number dropped to 7%, while repeat buyers put down 16% (no doubt aided by the sale of their homes). This just goes to show that for a large number of buyers last year, PMI did not stop them from buying their dream homes.
Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:The larger the down payment you can make, the lower your monthly housing cost will be, but Freddie Mac urges you to remember:
“It’s no doubt an added cost, but it’s enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”
Bottom Line
If you have questions about whether you should buy now or wait until you’ve saved a larger down payment, let’s get together to discuss our market’s conditions and help you make the best decision for you and your family.
Navigating Complex Transactions: The Broker Benefit over using a Real Estate Agent
Navigating Complex Transactions: The Broker Benefit In the intricate world of real estate transactions, the distinction between opting for a broker over an agent plays a pivotal role in not just simplifying the process, but in elevating the entire experience....
Five Key Factors Driving The Improvement In Home Affordability
Five Key Factors Driving The Improvement In Home Affordability In recent years, the landscape of home affordability has undergone tangible transformations, with several key factors contributing to a more accessible real estate market for a broader demographic. This...
Insights Into The Dynamic Shift: Home Values Rise As Median Prices Fall
In the ever-evolving landscape of the real estate market, a surprising trend has emerged—one that defies conventional wisdom and prompts a closer examination of underlying factors. This article delves into the complexities behind the seemingly paradoxical...
Secrets to a Successful Sale of Your Home
In the intricate dance of real estate, where emotion meets investment, the art of selling your home demands a blend of strategy, finesse, and keen insight. As navigators through the ever-evolving property landscape , homeowners poised to make their move must...
Why Buying Beats Renting in Salt Lake County Utah
In the current real estate climate, making the decision between buying a home and renting is more crucial than ever, particularly within the vibrant communities of Salt Lake County. This article delves into the five fundamental reasons why purchasing a property...
Evaluating Your Options: Should You Sell Your Home In 2024?
In contemplating the future of one’s real estate investments, the decision to sell a home in 2024 demands a meticulous evaluation of the current economic landscape, market trends, and individual financial goals. This article aims to provide homeowners with a...
Are Home Prices Going To Come Down?
Are Home Prices Going To Come Down? Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking...
What we Know About Policy Changes Regarding the NAR Settlement
Important MLS System and Policy Changes Regarding the NAR SettlementOn Wednesday - August 14, 2024, UtahRealEstate.com will be making adjustments to the MLS system and MLS Rules as required by the settlement terms agreed to by the National Association of REALTORS®...
Unlocking Homebuyer Opportunities in 2024
Unlocking Homebuyer Opportunities in 2024 There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt...
N.A.R. Lawsuit Settlement Fact Sheet for Utah
Lawsuit Settlement Fact Sheet – Utah Changes ChangesWhile changes will be minimal in Utah because of the state’s pro-consumer laws and customs, Utah REALTORS® are committed to helping buyers and sellers understand and navigate the changes. Key settlement terms...
Why Moving to a Smaller Home After Retirement Makes Life Easier
Why Moving to a Smaller Home After Retirement Makes Life Easier Retirement is a time for relaxation, adventure, and enjoying the things you love. As you imagine this exciting new chapter in your life, it's important to think about whether your current home still fits...
Why Your Asking Price Matters Even More Right Now
Why Your Asking Price Matters Even More Right Now If you’re thinking about selling your house, here’s something you really need to know. Even though it’s still a seller’s market today, you can’t pick just any price for your listing. While home prices are still...
Things To Avoid After Applying for a Mortgage
Things To Avoid After Applying for a Mortgage Some Highlights There are a few key things you’ll want to avoid after applying for a mortgage to make sure you’re in the best position when you get to the closing table. Don’t change bank accounts, apply for new credit,...
Real Estate Is the Best Investment
Did you know? Real estate has been voted the best long-term investment for 12 years straight. That’s because history shows home values usually go up. And when that happens, it helps homeowners grow their net worth. So, if you’re debating renting or buying, remember to...
Housing Market Forecast: What’s Ahead for the 2nd Half of 2024
Housing Market Forecast: What’s Ahead for the 2nd Half of 2024 As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales. Home Prices Are Expected To Climb Moderately Home prices are...
Do Elections Impact the Housing Market?
Do Elections Impact the Housing Market? The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market. It’s a great...
More Than a House: The Emotional Benefits of Homeownership
More Than a House: The Emotional Benefits of Homeownership With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. That’s only natural as you think about the dollars and cents of it...
How Missing or Ghosting A Home Showing Can Damage Your Reputation And Business In Real Estate
How Missing or Ghosting A Home Showing Can Damage Your Reputation And Business In Real Estate In the competitive world of real estate, maintaining a stellar reputation is not just important; it's paramount. Missing a home showing might seem like a minor mishap, easily...
Real Estate Agent Marketing Methods
Ready to sell your house? One of your top priorities may be getting help marketing your home. Partnering with a great agent can make all the difference. These are just a few strategies we can use to get your house more visibility. Ready to maximize your home's...
Hiring a PSA or Pricing Strategy Advisor is the Key to Pricing your Home Right
Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC] Some Highlights The asking price for your house can impact your bottom line and how quickly it sells. Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your...
Home Prices Rising in the Next 5 Years
Wondering about the future of home prices? Here's the scoop. Experts forecast a steady rise in home prices until at least 2028. That means buying now sets you up to gain equity as values climb. But, if you wait, the price of a home will only be higher later on. If you...
The Number of Homes for Sale Is Increasing
The Number of Homes for Sale Is Increasing There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up. There are more homes up for grabs this...
Home Prices Are Climbing in These Top Cities
Home Prices Are Climbing in These Top Cities Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop. The latest national data from Case-Shiller and...
The Sun Is Shining on Sellers This Summer
The Sun Is Shining on Sellers This Summer Some Highlights If your needs have changed, now’s a great time to sell and get the features you want most. Many buyers are eager to move between the school years, so you may see a faster sale, multiple offers, a higher...
How Buying or Selling a Home Benefits Your Community
How Buying or Selling a Home Benefits Your Community If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too. Every year, the National Association of Realtors (NAR) puts...
Gen Z Buyers – Directors Mortgage Quote
If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly...
What’s Motivating Your Move?
Considering making a move? According to Realtor.com, profit potential and family priorities are the top motivators for homeowners right now.Let’s d What's Motivating Your Move? Thinking about selling your house? As you make your decision, consider what's pushing you...
Now’s a Great Time To Sell Your House
Now’s a Great Time To Sell Your House Thinking about selling your house? If you are, you might be weighing factors like today’s mortgage rates and your own changing needs to figure out your next move. Here’s something else to consider. According to the latest Home...
The Perks of Downsizing When You Retire
The Perks of Downsizing When You Retire Some Highlights If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses. Smaller homes typically have lower energy and maintenance costs. Plus, you may have...
The Top 5 Reasons You Need a Real Estate Agent when Buying a Home
The Top 5 Reasons You Need a Real Estate Agent when Buying a Home You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions. And if you’re following along, it can be pretty confusing....
Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami
Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize...
Utah Licensed Real Estate Agents
In the past, we have had over 30,000 Active licenses. At the End of 2023 here is where we stand. Data is sourced from the Utah Division of Real Estate 22, 853 Active Licensees Sales Agent - 18,517 Principal Broker - 2442 Branch Broker - 171 Inactive - 4016 In...
11 Must-Do Actions To Ensure A Smooth Transition Into Your New Residence
11 Must-Do Actions To Ensure A Smooth Transition Into Your New Residence Moving into a new residence marks a significant milestone that brims with excitement and potential. However, to translate this new beginning into a seamless transition, careful planning and a...
Short list of things that you must get rid of before moving
Embarking on a new chapter of your life by relocating to a different home can be an exciting yet daunting process. The key to ensuring a smooth and stress-free move lies in effective preparation and organization, of which a critical component is the pre-move purge....
What Are Experts Saying About the Spring Housing Market?
What Are Experts Saying About the Spring Housing Market? If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the...
NAR Lawsuit Update – How does this effect Utah Realty?
NAR Lawsuit Update What we Know.... The NAR has reached a settlement agreement on the class action lawsuits relating to the offer of compensation rule. Details are in the link below. There is much to digest and more info and training will come out in the days ahead....
Why Access Is So Important When Selling Your House
Why Access Is So Important When Selling Your House If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers. And you may not realize just how important it is to...
Why There Won’t Be a Recession That Tanks the Housing Market
Why There Won’t Be a Recession That Tanks the Housing Market There’s been a lot of recession talk over the past couple of years. And that may leave you worried we’re headed for a repeat of what we saw back in 2008. Here’s a look at the latest expert projections to...
The First Step: Getting Pre-Approved for a Mortgage
The First Step: Getting Pre-Approved for a Mortgage Some Highlights If you’re looking to buy a home in 2024, getting pre-approved is a key piece of the puzzle. Mortgage pre-approval means a lender checks your finances and decides how much you’re qualified to borrow....
Why You Want an Agent’s Advice for Your Move
Why You Want an Agent’s Advice for Your Move No matter how you slice it, buying or selling a home is a big decision. And when you’re going through any change in your life and you need some guidance, what do you do? You get advice from people who know what they’re...
How Changing Mortgage Rates Impact You
How Changing Mortgage Rates Impact You Some Highlights If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. That’s because even a small change in mortgage rates can have a big impact...
Expert Home Price Forecasts for 2024 Revised Up
Expert Home Price Forecasts for 2024 Revised Up Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall. So, let’s see exactly how experts’...
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last...
Don’t Let the Latest Home Price Headlines Confuse You
Don’t Let the Latest Home Price Headlines Confuse You Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture. If you look at the national data for...
Maximizing The Benefits Of Home Equity When Downsizing
Maximizing The Benefits Of Home Equity When Downsizing When it comes to downsizing, homeowners often view it as a way to simplify their lives, reduce maintenance costs, or even relocate to a more desirable location. But what many don't realize is that downsizing can...
Why Pre-Approval Is Even More Important This Year
Why Pre-Approval Is Even More Important This Year On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is...
There’s No Foreclosure Wave in Sight
There’s No Foreclosure Wave in Sight Some Highlights Headlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry. If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened...
Don’t Wait Until Spring To Sell Your House
Don’t Wait Until Spring To Sell Your House As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell....
Blockchain technology and its integration with real estate transactions
Blockchain technology and its integration with real estate transactions. Blockchain has been making waves in various industries, revolutionizing the way we store and transfer data securely. And with the ever-evolving real estate market, it comes as no surprise that...
2 of the Factors That Impact Mortgage Rates
2 of the Factors That Impact Mortgage Rates If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?...
Trends in Senior Housing
Trends in Senior Housing In this article, we dive into the fascinating realm of senior purchasing habits when it comes to housing. With the aging population, the needs and preferences of seniors have transformed, leading to new trends and demands in the housing...
Will a Silver Tsunami Change the 2024 Housing Market?
Will a Silver Tsunami Change the 2024 Housing Market? Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't...
Why It’s More Affordable To Buy a Home This Year
Why It’s More Affordable To Buy a Home This Year Some Highlights Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are...
Experts Project Home Prices Will Increase in 2024
Experts Project Home Prices Will Increase in 2024 Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the...
3 Must-Do’s When Selling Your House in 2024
3 Must-Do’s When Selling Your House in 2024 If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. A great way to...
Buying Real Estate With Crypto Currency In Utah
Buying Real Estate With Crypto Currency In Utah As the world continues to evolve, so too does the way we invest and transact. In recent years, cryptocurrencies such as Bitcoin and Ethereum have emerged as prominent investment vehicles for tech-savvy individuals....
Key Terms Every Homebuyer Should Learn
Key Terms Every Homebuyer Should Learn Some Highlights Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process. If you want to become a homeowner this year, it's a good idea to learn these key housing...
3 Key Factors Affecting Home Affordability
3 Key Factors Affecting Home Affordability Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most...
Why the Price of Your House Matters When Selling
Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 CERTIFIED LUXURY...
The Dramatic Impact of Homeownership on Net Worth
The Dramatic Impact of Homeownership on Net Worth If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal...
Avoid These Common Mistakes After Applying for a Mortgage
Avoid These Common Mistakes After Applying for a Mortgage If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own. But before you get too far down the emotional path, there are some key things to...
What are your Goals for 2024?
What are your Goals for 2024?
What Lower Mortgage Rates Mean for Your Purchasing Power
What Lower Mortgage Rates Mean for Your Purchasing Power If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly...
Achieving Your Homebuying Dreams in 2024
Achieving Your Homebuying Dreams in 2024 [INFOGRAPHIC] Some Highlights Planning to buy a home in 2024? Here’s what to focus on. Improve your credit score, plan for your down payment, get pre-approved, and decide what’s most important to you. Let’s connect so you have...
Why Pre-Approval Is Your Homebuying Game Changer
Why Pre-Approval Is Your Homebuying Game Changer If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future...
Thinking About Buying a Home? Ask Yourself These Questions
Thinking About Buying a Home? Ask Yourself These Questions If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. And you’re getting your information from a variety of channels: the news, social media,...
Things To Consider If Your House Didn’t Sell
Things To Consider If Your House Didn’t Sell If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment. Understandably, you're probably wondering what may have gone wrong. Here are three questions to...
What Experts Say About The Housing Market in 2024
Retiring Soon? Why Moving Might Be the Perfect Next Step
Retiring Soon? Why Moving Might Be the Perfect Next Step If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life. Fortunately, you may be in a...
Get Ready To Buy a Home by Improving Your Credit Score
Get Ready To Buy a Home by Improving Your Credit Score As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it's never too early to start laying the groundwork. One crucial step to prepare for homeownership is...
Get Your House Ready To Sell This Winter
Get Your House Ready To Sell This Winter [INFOGRAPHIC] Some Highlights As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal. To name just a couple, it’s a good idea to declutter, take...
Why Mortgage Rates Could Continue To Decline
Why Mortgage Rates Could Continue To Decline When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying...
Expert Quotes on the 2024 Housing Market Forecast
Expert Quotes on the 2024 Housing Market Forecast If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of...
Why Now Is Still a Great Time To Sell Your House
Why Now Is Still a Great Time To Sell Your House If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there. The housing market isn't as frenzied as it was during the ‘unicorn’...
What You Need To Know About Down Payments
What You Need To Know About Down Payments Some Highlights If you want to buy a home, you may not need as much for your down payment as you think. There are various loan options for qualified buyers with down payments as low as 3.5% or even no down payment requirement....
If Your House Hasn’t Sold Yet, It May Be Overpriced
If Your House Hasn’t Sold Yet, It May Be OverpricedHas your house been sitting on the market a while without selling? If so, you should know that’s pretty unusual, especially right now. That’s because the supply of homes available for sale is still far lower than what...
Marty Gale: A Real Estate Journey Spanning 38 Years
When it comes to real estate, there are few professionals who can boast the level of experience and expertise that Marty Gale brings to the table. With an impressive 38 years in the business, Marty has not only weathered the ups and downs of the industry, but has...
The Perfect Home Could Be the One You Perfect After Buying
The Perfect Home Could Be the One You Perfect After Buying There’s no denying mortgage rates and home prices are higher now than they were last year and that’s impacting what you can afford. At the same time, there are still fewer homes available for sale than the...
Your Homebuying Adventure
Your Homebuying Adventure Some Highlights Here are the key milestones you’ll encounter on your path to homeownership. From building your team, to house hunting, all the way to moving into your new home – it’s an exciting adventure. Your journey starts here. Let’s...
Why You Need To Use a Real Estate Agent When You Buy a Home
Why You Need To Use a Real Estate Agent When You Buy a Home If you’ve recently decided you’re ready to become a homeowner, chances are you’re trying to figure out what to do first. It can feel a bit overwhelming to know where to start, but the good news is you don’t...
New Loan Limits Raised To Help Home Buyers in 2024
The year 2024 has begun with a bang, as the Federal Housing Administration (FHA) and conventional loan limits have increased. This means that potential homebuyers and refinancers now have even more opportunities to secure funding for their dream homes or make...
Experts Project Home Prices Will Rise over the Next 5 Years
Experts Project Home Prices Will Rise over the Next 5 Years Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent...
Wednesday Word | After-Repair Value
"Wednesday Word" After-Repair Value or ARV What Is After-Repair Value (ARV) In Real Estate? ARV is the estimated value of a property after completed renovations, not in its current condition. House flippers commonly use ARV as a way to gauge the worth of a...
Are the Top 3 Housing Market Questions on Your Mind?
Are the Top 3 Housing Market Questions on Your Mind? When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and...
Is Wall Street Buying Up All the Homes in America?
Is Wall Street Buying Up All the Homes in America?If you’re thinking about buying a home, you may find yourself interested in the latest real estate headlines so you can have a pulse on all of the things that could impact your decision. If that’s the case, you’ve...
cost-effective and flexible solution for an accessory dwelling unit (ADU)?
Are you searching for a cost-effective and flexible solution for an accessory dwelling unit (ADU)? Look no further than a manufactured double wide mobile home. ADUs have gained popularity as a versatile and affordable housing option, and manufactured homes offer...
Is Your House the Top Thing on a Buyer’s Wish List this Holiday Season?
Is Your House the Top Thing on a Buyer’s Wish List this Holiday Season? This time every year, homeowners who are planning to move have a decision to make: sell now or wait until after the holidays? Some sellers with homes already on the market may even remove their...
Selling Property to Family Creates Tax Complications
Our Friend Karl from K.A.N. Accounting & Tax, Inc. Sent us this and we thought we should share! Selling property to a family member or loved one is deemed a related party transaction by the IRS. If contemplating a transaction like this, you need to review the tax...
502 So 1040 E H 143 American Fork Utah 84003
502 So 1040 E H 143 American Fork Utah 84003 Mt Timpanogos Village Comparative Market Analysis and Broker Opinion of Value 502 So 1040 E H 143 American Fork Utah 84003 Sold $317,578 502 So 1040 W H 143 American Fork Utah 84003...
2024 Housing Market Forecast
2024 Housing Market Forecast Some Highlights Thinking of buying or selling a house and wondering what the new year holds for the housing market? Experts forecast home prices to end this year up 2.8% and to rise another 1.5% in 2024. And climbing prices help...
People Are Still Moving, Even with Today’s Affordability Challenges
People Are Still Moving, Even with Today’s Affordability Challenges If you're thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are...
The Latest 2024 Housing Market Forecast – Utah Realty
The Latest 2024 Housing Market Forecast The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to...
Reasons To Sell Your House Before the New Year
Reasons To Sell Your House Before the New Year As the year winds down, you may have decided it's time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here...
Don’t Believe Everything You Read About Home Prices
Don’t Believe Everything You Read About Home Prices According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way? It has a lot to do with all the...
A Real Estate Agent Helps Take the Fear Out of the Market
A Real Estate Agent Helps Take the Fear Out of the Market Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should...
8 Great Quotes
Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 CERTIFIED LUXURY...
The Perks of Selling Your House When Inventory Is Low
The Perks of Selling Your House When Inventory Is Low When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move. One thing that may be working in your favor is how few homes there are...
Why Home Prices Keep Going Up
Why Home Prices Keep Going Up If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety...
Home Price Growth Is Returning to Normal
Home Price Growth Is Returning to Normal Some Highlights If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year. Based on typical seasonality in the market, prices go...
Are Higher Mortgage Rates Here To Stay?
Are Higher Mortgage Rates Here To Stay? Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over...
The Latest Expert Forecasts for Home Prices in 2023
The Latest Expert Forecasts for Home Prices in 2023 Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t...
Key Skills You Need Your Listing Agent To Have
Key Skills You Need Your Listing Agent To Have Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process....
What’s in store for the Greater Salt Lake City housing market this fall?
Utah Realty has an exciting topic for our fall Season blog. As the leaves change colors and the temperatures start to cool, we find ourselves eagerly anticipating the shifts and trends that will shape the real estate landscape in one of Utah's most vibrant and...
Unpacking the Long-Term Benefits of Homeownership
Unpacking the Long-Term Benefits of Homeownership If you’re thinking about buying a home soon, higher mortgage rates, rising home prices, and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now. While those market factors...
Beginning with Pre-Approval
Beginning with Pre-Approval If you’re looking to buy a home this fall, there are a few things you need to know. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes on the market right now and...
The Many Non-Financial Benefits of Homeownership
The Many Non-Financial Benefits of Homeownership Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it's essential to think about the non-financial benefits that make a home more than just a...
Remote Work Is Changing How Some Buyers Search for Their Dream Homes
Remote Work Is Changing How Some Buyers Search for Their Dream Homes The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million...
What is Housing going to do this fall in Salt Lake County?
Housing is always a hot topic in Utah and the anticipated Fall housing market in Salt Lake County. As seasons change, so do the dynamics of real estate, and we are here to provide you with an insightful glimpse into what can be expected in this vibrant and dynamic...
Should Baby Boomers Buy or Rent After Selling Their Houses?
Should Baby Boomers Buy or Rent After Selling Their Houses? Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different...
Today’s Housing Market Has Only Half the Usual Inventory
Today’s Housing Market Has Only Half the Usual Inventory Some Highlights There are only about half the number of homes for sale compared to the last normal years in the market. That means buyers don’t have enough options right now. So, if you work with an agent to...
Why You Need a True Expert in Today’s Housing Market
Why You Need a True Expert in Today’s Housing Market The housing market continues to shift and change, and in a fast-moving landscape like we’re in right now, it’s more important than ever to have a trusted real estate agent on your side. Whether you’re buying your...
People Want Less Expensive Homes – And Builders Are Responding
People Want Less Expensive Homes – And Builders Are Responding In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low...
What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults
What Makes Garden Park Town Homes In Daybreak South Jordan The Best Place For 55 And Older Adults Welcome to the Utah Realty Blog Article where we delve into the reasons why Garden Park Town Homes in Daybreak South Jordan is an exceptional choice for 55 and older...
About 11,000 Houses Will Sell In The USA Today
About 11,000 Houses Will Sell Today Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a...
There’s Only Half the Inventory of a Normal Housing Market Today
There's Only Half the Inventory of a Normal Housing Market Today Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today. You may have heard inventory is low right now,...
Things To Know When Getting Ready To Buy A Home
Things To Know When Getting Ready To Buy A Home Are you in the market to buy your dream home? Congratulations! This is an exciting step in your life, but it can also be overwhelming and confusing at times. From navigating the financial aspects to understanding the...
Considering Selling Your Home As A Senior?
Considering Selling Your Home As A Senior? Let A Senior Real Estate Specialist (SRES) Be Your Guide! Are you a senior considering a move or possibly selling your home? Making decisions related to real estate can be overwhelming, especially as you enter the golden...
Salt Lake County Market Insights By Marty Gale Utah Realty
Salt Lake County Market Insights from May 2022 to June 2023 Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM) PSA (Pricing Strategy Advisor) General...
What Makes A Great Real Estate Agent
What Makes A Great Real Estate Agent Are you on the hunt for your dream home or perhaps looking to sell your property for top dollar? Choosing the right real estate agent is essential in ensuring a smooth and successful transaction. But what exactly sets apart a...
Are you or a loved one facing the prospect of downsizing? It can be an overwhelming process.
Marty's Monday Blog Are you or a loved one facing the prospect of downsizing? It can be an overwhelming process, filled with practical and emotional challenges. That's why utilizing the expertise of a Senior Real Estate Specialist (SRES) can make all the difference....
Key Housing Market Trends
Key Housing Market Trends Some Highlights If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market. Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right. If you...
Homebuyers Are Still More Active Than Usual
Homebuyers Are Still More Active Than Usual Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong...
Tips for Making Your Best Offer on a Home
Tips for Making Your Best Offer on a Home While the wild ride that was the ‘unicorn’ years of housing is behind us, today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re looking to buy a home this season, know...
Don’t Fall for the Next Shocking Headlines About Home Prices
Don’t Fall for the Next Shocking Headlines About Home Prices If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on...
Low Housing Inventory Is a Sweet Spot for Sellers
Low Housing Inventory Is a Sweet Spot for Sellers Some Highlights Today’s housing inventory is still well below more normal years. This low inventory is why homes that are priced right are still selling quickly and seeing multiple offers. If you want to sell your...
Today’s Housing Inventory Is a Sweet Spot for Sellers
Today’s Housing Inventory Is a Sweet Spot for Sellers One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still...
Two Questions To Ask Yourself if You’re Considering Buying a Home
Two Questions To Ask Yourself if You’re Considering Buying a Home If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the...
Lending Standards Are Not Like They Were Leading Up to the Crash
Lending Standards Are Not Like They Were Leading Up to the Crash You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today....
Why Homeownership Wins in the Long Run
Why Homeownership Wins in the Long Run Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers,...
The True Cost of Selling Your House on Your Own
The True Cost of Selling Your House on Your Own Selling your house is no simple task. While some homeowners opt to sell their homes on their own, known as a FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent....
Why Buying or Selling a Home Helps the Economy and Your Community
Why Buying or Selling a Home Helps the Economy and Your Community If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community. The National Association of Realtors (NAR) releases a report...
Are Home Prices Going Up or Down? That Depends…
Are Home Prices Going Up or Down? That Depends… Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different...
Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market
Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market Some Highlights Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were...
This Real Estate Market Is the Strongest of Our Lifetime
This Real Estate Market Is the Strongest of Our Lifetime When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the...
The Main Reason Mortgage Rates Are So High
The Main Reason Mortgage Rates Are So HighToday’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be...
The True Value of Homeownership
The True Value of Homeownership Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership...
Keys to Success for First-Time Homebuyers
Keys to Success for First-Time Homebuyers Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of...
Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off
Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate....
Remember and Honor Those Who Gave All
Remember and Honor Those Who Gave All We remember and honor those who gave all. Some Highlights
What You Need To Know About Home Price News
What You Need To Know About Home Price News The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines....
Homeowners Have Incredible Equity To Leverage Right Now
Homeowners Have Incredible Equity To Leverage Right Now Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value...
South Jordan City Council has recently announced the annexation of over 2,000 acres of land
South Jordan City Council has recently announced the annexation of over 2,000 acres of land. This move is expected to bring significant growth and development to the area. The annexed land is located in the western part of the city and includes several large parcels...
Is Now a Good Time to Buy in Utah
Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM) PSA (Pricing Strategy Advisor) General Contractor 2000 (in-active) e-pro (advanced digital marketing)...
Why Today’s Housing Market Is Not About To Crash
Why Today’s Housing Market Is Not About To Crash There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to...
Cinco de Mayo -Mexican Independence Day!
Today is Cinco de Mayo May 5th Happy Cinco de Mayo! Cinco de Mayo is a holiday that is celebrated in the United States every year on May 5th. While many people associate the holiday with Mexican Independence Day, which is actually celebrated on September 16th, Cinco...
How Homeowners Win When They Downsize
How Homeowners Win When They Downsize Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer...
Ways To Overcome Affordability Challenges in Today’s Housing Market
Ways To Overcome Affordability Challenges in Today’s Housing Market Some Highlights With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget. You can also work with a trusted...
Why Today’s Foreclosure Numbers Are Nothing Like 2008
Why Today's Foreclosure Numbers Are Nothing Like 2008 You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market. That may leave you with a few questions, especially if you’re thinking about buying a house. Understanding what they...
Market Update for Real Estate in Salt Lake County 2023
Market Update for real estate in Salt Lake County 2023 As we approach 2023, the real estate market in Salt Lake County is showing no signs of slowing down. In fact, experts predict that the market will continue to be strong, with steady growth in both home prices...
Why You May Want an Energy-Efficient Home
Why You May Want an Energy-Efficient Home Some Highlights Since inflation is increasing the cost of goods and services, it may make sense to look for an energy-efficient home. Energy prices have increased over the last year, so look for energy-efficient features in...
Why Use A Senior Real Estate Specialist?
Why Use A Senior Real Estate Specialist As we age, our housing needs change. Whether you're looking to downsize, move closer to family, or find a home that better suits your lifestyle, the process of selling your home can be overwhelming. That's where a Senior...
What’s the Difference Between a Home Inspection and an Appraisal?
What’s the Difference Between a Home Inspection and an Appraisal? If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process...
Falling out of Love with Your House? It May Be Time To Move.
Falling out of Love with Your House? It May Be Time To Move. Owning a home means having a place that’s solely your own and provides the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it...
98% of millennials want to become a homeowner at some point if they aren’t already.
5 Reasons Millennials Are Buying Homes In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone. According to Zonda, 98% of millennials want to become a homeowner at some...
Think Twice Before Waiting for Lower Home Prices
Think Twice Before Waiting for Lower Home Prices As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve...
Home Inspections for Sellers: What You Need To Know
Home Inspections for Sellers: What You Need To Know Some Highlights The inspection is a major part of the home selling process. Many buyers used to waive inspections to be more competitive with their offer, but recently, inspections and repairs are becoming popular...
Want To Sell Your House This Spring? Price It Right.
Want To Sell Your House This Spring? Price It Right. Over the last year, the housing market’s gone through significant change. While it’s still a sellers’ market, homes that are priced right are selling, and they get the most attention from buyers right now. If you’re...
Salt Lake County Multi-Family
Salt Lake County Multi-Family Comparing February 2022 to February 2023 The multi-family housing market in Salt Lake County faced several challenges in February, as heightened interest rates led to a noticeable decrease in sales activity for properties such as...
Top Two Reasons People Sell Their Home
Two Reasons You Should Sell Your House Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses...
How Changing Mortgage Rates Can Affect You
How Changing Mortgage Rates Can Affect You The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects...
Facts About Closing Costs
Facts About Closing Costs Some Highlights If you’re thinking about buying a home, be sure to plan for closing costs. Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal...
We’re in a Sellers’ Market. What Does That Mean?
We’re in a Sellers’ Market. What Does That Mean? Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today...
4 Key Tips for Selling Your House This Spring
4 Key Tips for Selling Your House This Spring Spring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s spring housing market will be different from the frenzy of the past several...
Get Ready: The Best Time To List Your House Is Almost Here
Get Ready: The Best Time To List Your House Is Almost Here If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching. Experts at realtor.com looked at seasonal trends from recent years (excluding 2020...
Condos Are a Great Entryway to Homeownership
Condos Are a Great Entryway to Homeownership
2023 Spring Flooding In Utah
2023 Spring Flooding Know flood risks. Check to see if you live in a flood zone or high-risk area (Flood Map/FEMA QR code). Be aware of runoff in streams, drainage channels, ditches, and other waterways near your home. Consider flood insurance. Homeowner policies...
The Role of Access in Selling Your House
The Role of Access in Selling Your House Once you’ve made the decision to sell your house and have hired a real estate agent to help, they’ll ask how much access to your home you want to give potential buyers. Your answer matters more now than it did in recent years....
What’s Ahead for Home Prices in 2023
What’s Ahead for Home Prices in 2023 Over the past year, home prices have been a widely debated topic. Some have said we’ll see a massive drop in prices and that this could be a repeat of 2008 – which hasn’t happened. Others have forecasted a real estate market that...
Balancing Your Wants and Needs as a Homebuyer This Spring
Balancing Your Wants and Needs as a Homebuyer This Spring Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market...
An Expert Gives You Clarity in Today’s Housing Market
An Expert Gives You Clarity in Today’s Housing Market The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process. A real estate expert uses their knowledge of...
Certified Divorce Specialist
4 Tips for Making Your Best Offer on a Home
4 Tips for Making Your Best Offer on a Home Are you planning to buy a home this spring? Though things are more balanced than they were at the height of the pandemic, it’s still a sellers’ market. So, when you find the home you want to buy, remember these four tips to...
Is It Really Better To Rent Than To Own a Home Right Now?
Is It Really Better To Rent Than To Own a Home Right Now? You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based...
What You Should Know About Rising Mortgage Rates
What You Should Know About Rising Mortgage Rates After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes...
One Major Benefit of Investing in a Home
One Major Benefit of Investing in a Home One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac: “Building equity through your monthly principal payments and appreciation is a critical part...
Checklist for Selling Your House This Spring
Checklist for Selling Your House This Spring Some Highlights As you get ready to sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. Let’s...
A Smaller Home Could Be Your Best Option
A Smaller Home Could Be Your Best Option Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief...
The Utah Spring Housing Market Could Be a Sweet Spot for Sellers
The Utah Spring Housing Market Could Be a Sweet Spot for Sellers Some Highlights The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy. The number of homes for sale is up from last year but...
Now helping navigate the solutions when coping with divorce and Real Property
National Association of Divorce Professionals Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 General Contractor 2000 (in-active) e-pro (advanced digital marketing) 2001 Certified Residential...
Are We in a Housing Bubble?
The Top Reasons for Selling Your House
The Top Reasons for Selling Your House Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting...
Create Your Perfect Home by Perfecting It After You Purchase
Want To Sell Your House? Price It Right.
Want To Sell Your House? Price It Right. Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations...
Pre-Approval in 2023: What You Need To Know
Pre-Approval in 2023: What You Need To Know One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains: “In a...
What Past Recessions Tell Us About the Housing Market
What Past Recessions Tell Us About the Housing Market It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than...
Is It Time To Sell Your Second Home?
Is It Time To Sell Your Second Home? During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite...
Today’s Housing Market Is Nothing Like 15 Years Ago
Today’s Housing Market Is Nothing Like 15 Years Ago There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make...
What Experts Are Saying About the 2023 Housing Market
What Experts Are Saying About the 2023 Housing Market If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and...
Tips To Reach Your Homebuying Goals in 2023
Tips To Reach Your Homebuying Goals in 2023 Some Highlights If you’re planning to buy a home in 2023, here are a few things to focus on. Work on your credit and save for a down payment. If saving feels like a challenge, there’s help available. Then, get pre-approved,...
3 Best Practices for Selling Your House This Year
3 Best Practices for Selling Your House This Year A new year brings with it the opportunity for new experiences. If that resonates with you because you’re considering making a move, you’re likely juggling a mix of excitement over your next home and a sense of...
Planning To Sell Your House? It’s Critical To Hire a Pro
Planning To Sell Your House? It’s Critical To Hire a Pro. With higher mortgage rates and moderating buyer demand, conditions in the housing market are different today. And if you’re thinking of selling your house, it’s important to understand how the market has...
Applying For a Mortgage? Here’s What You Should Avoid Once You Do.
Applying For a Mortgage? Here’s What You Should Avoid Once You Do. While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may...
Financial Fundamentals for First-Time Homebuyers Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus...
Utah Realty Marty & Laurie Gale
Thank You for All of Your Support
What To Expect From the Housing Market in 2023
What To Expect From the Housing Market in 2023 The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it's put the market into a reset position. As the Federal Reserve (the Fed) made moves this year...
2023 Housing Market Forecast (National)
2023 Housing Market Forecast Some Highlights From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation. If you’re thinking of buying or selling a home this year, let’s connect so you...
You May Have More Negotiation Power When You Buy a Home Today
You May Have More Negotiation Power When You Buy a Home Today Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper competitive market has cooled this year as buyer demand has...
Reasons To Sell Your House This Season
Reasons To Sell Your House This Season Some Highlights If you’re planning to make a move but aren’t sure if now’s the right time, here are a few reasons why you shouldn’t wait to sell your house. The supply of homes for sale, while growing, is still low today....
Reasons To Sell Your House This Season
Reasons To Sell Your House This Season Some Highlights If you’re planning to make a move but aren’t sure if now’s the right time, here are a few reasons why you shouldn’t wait to sell your house. The supply of homes for sale, while growing, is still low today....
Homeownership Is an Investment in Your Future
Homeownership Is an Investment in Your Future There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President...
What’s Going on with Home Prices? Ask a Professional.
What’s Going on with Home Prices? Ask a Professional. If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices...
Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market
Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much...
Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays
Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about...
Should You Update Your House Before You Sell? Ask a Real Estate Professional
Should You Update Your House Before You Sell? Ask a Real Estate Professional Some Highlights You may be wondering what needs to be renovated before you sell your house. In today’s shifting market, making your house appealing is more important than ever. That’s why...
Home Equity: A Source of Strength for Homeowners Today
Home Equity: A Source of Strength for Homeowners Today Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: “. . . don’t...
VA Loans: Making Homes for the Brave Achievable
VA Loans: Making Homes for the Brave Achievable Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a...
VA Loans Can Help Veterans Achieve Their Dream of Homeownership
VA Loans Can Help Veterans Achieve Their Dream of Homeownership For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand...
What’s Ahead for Mortgage Rates and Home Prices?
Utah Realty Blog & News The Latest news for Real Estate both local and National. Buyers Sellers SeniorsWhat’s Ahead for Mortgage Rates and Home Prices? Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next...
The Majority of Americans Still View Homeownership as the American Dream
The Majority of Americans Still View Homeownership as the American Dream Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view...
Key Factors Affecting Home Affordability Today
Key Factors Affecting Home Affordability Today Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s...
Homeownership Wins Over Time
Homeownership Wins Over Time Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide,...
Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.
Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be. It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing...
Sell Your House Before the Holidays
Sell Your House Before the Holidays As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the...
Taking the Fear out of Saving for a Home
Taking the Fear out of Saving for a Home If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might...
when one door closes
Applying for a Mortgage Doesn’t Have To Be Scary
Applying for a Mortgage Doesn’t Have To Be Scary Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong...
Millennials Are Still a Driving Force of Today’s Buyer Demand
Millennials Are Still a Driving Force of Today’s Buyer Demand If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what...
3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008
3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008 With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it...
Pre-Approval Is a Critical First Step on Your Homebuying Journey
Pre-Approval Is a Critical First Step on Your Homebuying Journey If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months...
Tips For First-Time Homebuyers
Tips For First-Time Homebuyers Some Highlights If you’re trying to buy your first home in today’s housing market, you’ll want to know what you can do as mortgage rates rise and inventory stays low overall. Connect with a lender to get pre-approved, prioritize your...
Saving for a Down Payment
Saving for a Down Payment? Here’s What You Should Know. As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down...
How an Expert Can Help You Understand Inflation & Mortgage Rates
How an Expert Can Help You Understand Inflation & Mortgage Rates If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. Inflation and the Housing Market This...
The True Strength of Homeowners Today
The True Strength of Homeowners Today The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are...
Fall Home Selling Checklist
Fall Home Selling Checklist Some Highlights When it comes to selling your house, you want it to look its best inside and out so it catches the attention of buyers. A real estate professional can help you decide what to do to make that happen. Focus on tasks that can...
Top Reasons Homeowners Are Selling Their Houses Right Now
Top Reasons Homeowners Are Selling Their Houses Right Now Some people believe there’s a group of homeowners who may be reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current home. You may even have...
Getting Your House Ready To Sell? Work with an Agent for Expert Advice
Getting Your House Ready To Sell? Work with an Agent for Expert Advice In a market that’s shifting as fast as it is today, many homeowners wonder what, if anything, needs to be renovated before they sell their house. That’s where a trusted real estate professional...
Watching the Stock Market? Check the Value of Your Home for Good News.
Watching the Stock Market? Check the Value of Your Home for Good News. While watching the stock market recently may have started to feel pretty challenging, checking the value of your home should come as welcome relief in this volatile time. If you’re a homeowner,...
Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market
Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market If you're thinking about buying a home today, there's welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling...
Your Guides to Buying or Selling a Home This Fall
Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 General Contractor 2000 (in-active) e-pro (advanced digital marketing) 2001 Certified Residential Specialist 2009 Certified Negotiation Expert 2014 Master...
Expert Forecasts on Mortgage Rates
Expert Forecasts on Mortgage Rates If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues...
How Owning a Home Builds Your Net Worth
How Owning a Home Builds Your Net Worth Owning a home is a major financial milestone and an achievement to take pride in. One major reason: the equity you build as a homeowner gives your net worth a big boost. And with high inflation right now, the link between owning...
Should I wait to buy a home?
Part 4 Should I wait to buy a home? This is probably one of the biggest questions you’re getting asked right now, and it’s never been more important to have a good answer for it. Even though purchasing a home today may not be as easy as it was a couple of years ago,...
What will happen the second half of this year?
Part 3 What will happen the second half of this year? Yes, we are seeing a slowdown. However, we are really just heading back toward the market pace we saw pre-pandemic, and those were still great years for real estate. Focus on the big picture, and that’s this: the...
Expert Housing Market Forecasts for the Second Half of the Year
Expert Housing Market Forecasts for the Second Half of the Year The housing market is at a turning point, and if you’re thinking of buying or selling a home, that may leave you wondering: is it still a good time to buy a home? Should I make a move this year? To help...
If the economy slows further, what does that mean for real estate?
IN TIMES OF UNCERTAINTY, PEOPLE FOLLOW THE CERTAIN Part 3 If the economy slows further, what does that mean for real estate? Post-2009, nothing will strike fear into the hearts of buyers and sellers like the word “recession.” But as the economy slows down, history...
What’s happening with mortgage rates, now and in the future? Part 2
What’s happening with mortgage rates, now and in the future? Rising mortgage rates are no doubt one of the biggest factors impacting the housing market right now. But it’s important to remind your clients that the low rates of the last few years were an anomaly. As...
The market has shifted, and that’s a good thing.
IN TIMES OF UNCERTAINTY, PEOPLE FOLLOW THE CERTAIN – top five housing market questions Over the next 5 days we will post the top 5 questions everyone is asking. Question one: Is the housing market going to crash? Answer: Headlines right now scare consumers that the...
3 Tips for Buying a Home Today
3 Tips for Buying a Home Today If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers...
Planning To Retire? Your Equity Can Help You Reach Your Goal.
Planning To Retire? Your Equity Can Help You Reach Your Goal. Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement...
Experts Increase 2022 Home Price Projections
Experts Increase 2022 Home Price Projections If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know. Not only are experts forecasting home prices will continue to...
Pricing your house based on current market conditions means it’s more likely to sell quickly. Let’s connect so you can have the best advice when you sell today.
Is the Shifting Market a Challenge or an Opportunity for Homebuyers?
Is the Shifting Market a Challenge or an Opportunity for Homebuyers?If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers...
3 Graphs To Show This Isn’t a Housing Bubble
3 Graphs To Show This Isn’t a Housing Bubble With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that...
Why the Forbearance Program Changed the Housing Market
Why the Forbearance Program Changed the Housing Market When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over...
Housing Market Forecast for the Rest of 2022
Housing Market Forecast for the Rest of 2022 Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage...
Why It’s Still a Sellers’ Market
Why It’s Still a Sellers’ Market As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you...
Pre-Approval Is a Strategic Move When You’re Buying a Home
Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 General Contractor 2000 (in-active) e-pro (advanced digital marketing) 2001 Certified Residential Specialist 2009 Certified Negotiation Expert 2014 Master...
Expert Housing Market Forecasts for the Second Half of the Year
Expert Housing Market Forecasts for the Second Half of the Year The housing market is at a turning point, and if you’re thinking of buying or selling a home, that may leave you wondering: is it still a good time to buy a home? Should I make a move this year? To help...
Happy 4th of July
Happy Independence Day
Real Estate Consistently Voted Best Investment
Real Estate Consistently Voted Best Investment Some Highlights Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row. Owning real estate is more than just a place to call home. It’s also an investment in your...
Why an Agent Is Essential When Pricing Your House
Why an Agent Is Essential When Pricing Your House Some Highlights When it comes to pricing your house, there’s a lot to consider. The only way to ensure you price it right is by partnering with a local real estate professional. To find the best price, your agent...
A Recession Doesn’t Equal a Housing Crisis
If you're following the news, you might be wondering what could happen to the housing market if there's a recession. Let's connect to discuss why history shows a recession doesn't equal a housing crisis.Buy or Sell with Marty Gale "Its The Experience" Principal Broker...
The Average Homeowner Gained $64K in Equity over the Past Year
The Average Homeowner Gained $64K in Equity over the Past Year If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price...
Why the Growing Number of Homes for Sale Is Good for Your Move Up
Why the Growing Number of Homes for Sale Is Good for Your Move Up Are you thinking about selling your current home? If so, the biggest question on your mind may be: if I sell now, where will I go? If this resonates with you, there’s something you should know....
June is National Homeownership Month
How Homeownership Impacts You June is National Homeownership Month, and it’s the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. It’s your stake in the community,...
Sellers Have an Opportunity with Today’s Home Prices
"IT'S THE EXPERIENCE" It’s difficult to know when is the best time to sell, or how to get the most money for your house, but you don’t need to go through the process alone. You may be wondering if prices are projected to rise or fall…or how much competition you may...
What’s on the Horizon for the Housing Market in the Second Half of 2022?
The One Thing Every Homeowner Needs To Know About a Recession
The One Thing Every Homeowner Needs To Know About a Recession A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an...
How Homeownership Can Bring You Joy
How Homeownership Can Bring You Joy If you're trying to decide whether to rent or buy a home, you're probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but...
Should You Update Your House Before Selling? Ask a Real Estate Professional.
Should You Update Your House Before Selling? Ask a Real Estate Professional. Some Highlights If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide. In today’s sellers’ market, buyers...
Top Signs It’s Time To Sell According to Experts
What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market
What You Actually Need To Know About the Number of Foreclosures in Today’s Housing MarketWhile you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage...
Are There More Homes Coming to the Market?
Are There More Homes Coming to the Market? According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of...
Will Home Prices Fall This Year? Here’s What Experts Say
Will Home Prices Fall This Year? Here’s What Experts Say. Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home...
How Homeownership Can Help Shield You from Inflation
How Homeownership Can Help Shield You from Inflation If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising...
Myths About Today’s Housing Market
Myths About Today’s Housing Market Some Highlights If you’re planning to buy or sell a home today, it’s important to be aware of common misconceptions. Whether it’s timing your purchase as a buyer based on home prices and mortgage rates or knowing what to upgrade or...
Why This Housing Market Is Not a Bubble Ready To Pop
Why This Housing Market Is Not a Bubble Ready To Pop Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American...
How the Appraisal and Inspection Empower You as a Homebuyer
Buy or Sell with Marty Gale "Its The Experience" Principal Broker and Owner of Utah Realty™ Licensed Since 1986 General Contractor 2000 (in-active) e-pro (advanced digital marketing) 2001 Certified Residential Specialist 2009 Certified Negotiation Expert 2014 Master...
Where Are Mortgage Rates Headed?
Where Are Mortgage Rates Headed? There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don't ever try and forecast...
Why a Real Estate Professional Is Key When Selling Your House
Why a Real Estate Professional Is Key When Selling Your House With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly...
The Future of Home Price Appreciation and What It Means for You
The Future of Home Price Appreciation and What It Means for You Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15...
Balancing Your Wants and Needs as a Homebuyer Today
Balancing Your Wants and Needs as a Homebuyer Today Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice...
The Many Benefits of Homeownership
The Many Benefits of Homeownership The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here’s a look at a few of the non-financial...
Why It’s Critical To Price Your House Right
Why It’s Critical To Price Your House Right When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand,...
This Spring Presents Sellers with a Golden Opportunity
This Spring Presents Sellers with a Golden Opportunity If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next...
Key Terms for Homebuyers
Key Terms for Homebuyers Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to...
Spring Home Buyers Guide for 2022 is Here!
Things-To-Avoid-After-Applying-for-a-Mortgage
Things-To-Avoid-After-Applying-for-a-Mortgage It's essential to avoid mishaps after applying for a mortgage. Let's connect so you know what to avoid during this part of the homebuying process. [video width="1920" height="1080"...
The #1 Reason To Sell Your House Today
Why Acting Strategically as a Seller Is Your Best Play
Positive: Professionalism, Responsiveness Marty sat down with my and wife and me to explain his process...
0 Comments