Episode 5- February Market Update and FHA appraisal info


This graph shows new construction sales price per square foot. You can see that over the past year that Lehi’s NW market area has seen a steady value increase of up to 14% for new construction homes.

This is the listing inventory graph for the same area and age home. While listing count dipped slightly over the winter months, demand stayed strong and the inventory is beginning to increase once more.

The above graphs show the American Fork market area. Homes built from 1985 to 2000. 1800 to 3000 square feet in total living area on lots from .10 to .49 acres.

You can see that the days on market are around 30 days on average with a slight increase during the winter months. This is typical for the market area.

The Median price has remained stable over the past 12 months.
Here is the exciting graph. Look close near the end. What should jump out to you is the lack of inventory. This is an opportunity to capture the most money on the sale of your home if you are looking to list this year.
If that is the case, be sure to give me a call and find out the best way to market your home!
Visit my site

We also discuss in the podcast some things to look out for during an FHA appraisal. Here is a link to the Ask Utah Appraiser website where I discuss what to expect during a typical appraisal. For more appraisal information you can also get answers at Appraisal Professor

If you would like to have me do some market research on your neighborhood for the next market wrap up, please contact me!

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