Rhodes Realty

12/05/2022

The following tips can significantly reduce your energy costs while making your home more omfortable and environmentally friendly.

10/20/2022

The latest in the Utah real estate market:

For the 12- month period spanning September 2021 through August 2022, Closed Sales in the state of Utah were down 13.0 percent overall. The price range with the largest gain in sales was the $500,001 to $750,000 range, where they increased 36.8 percent. The overall Median Sales Price was up 22.0 percent to $500,000. The property type with the largest price gain was the Townhouse-Condo segment, where prices increased 24.6 percent to $405,000. The price range that tended to sell the quickest was the $300,001 to $500,000 range at 20 days; the price range that tended to sell the slowest was the $150,000 and Below range at 44 days. Market-wide, inventory levels were up 80.0 percent. The property type that gained the most inventory was the Townhouse-Condo segment, where it increased 86.1 percent. That amounts to 3.0 months supply for Single-Family homes and 2.5 months supply for Townhouse-Condo.
If you have questions about the changing market, I'd love to help you navigate this!

If you are looking to buy or sell a home call/text 801.971.8428, visit https://spencerrhodes.kw.com or shoot us a message.

10/18/2022

The latest in the national real estate market:

Existing-home sales fell for the sixth consecutive month to a seasonally adjusted annual rate of 4.81 million. Sales were down 5.9% from June and 20.2% from one year ago.

The median existing-home sales price climbed 10.8% from one year ago to $403,800. That's down $10,000, however, from last month's record high of $413,800.

The inventory of unsold existing homes rose to 1.31 million by the end of July, or the equivalent of 3.3 months at the current monthly sales pace.
*source: National Association of Realtors*
Questions about the changing market? I'd love to help you navigate this.

If you are looking to buy or sell a home call 801.971.8425, visit https://spencerrhodes.kw.com or shoot us a message.

10/05/2022

When you’re shopping for a mortgage, it can be tempting to just talk to the first person you meet, sign the loan documents, and be on your way. But before you do that, it’s actually pretty important that you ask what type of financial institution you’re dealing with, because they’re not all the same. Here’s a quick rundown of the main differences.

When you’re shopping for a mortgage, it can be tempting to just talk to the first person you meet, sign the loan documents, and be on your way.

08/26/2022

July 22 National Market update -
Existing-home sales declined for the fourth straight month to a seasonally adjusted annual rate of 5.41 million. Sales were down 3.4% from April and 8.6% from one year ago.

At $407,600, the median existing-home sales price exceeded $400,000 for the first time and represents a 14.8% increase from one year ago.

The inventory of unsold existing homes rose to 1.16 million by the end of May, or the equivalent of 2.6 months at the current monthly sales pace.
*source: National Association of Realtors*

Questions about the changing market? I'd love to help you navigate this.

If you are looking to buy or sell a home call 801-899-5719 or visit SpencerRhodes.kw.com.

08/24/2022

The latest in the Utah real estate market:

After two years of record-setting activity, there are signs the housing market might be
cooling. High home prices and a surge in mortgage interest rates are slowing buyer
activity, with home sales declining for the third consecutive month under the weight of
soaring homeownership costs. The National Association of REALTORS® (NAR) reports
existing home sales were down 2.4% from the previous month, while pending sales fell
3.9% as of last measure, extending the trend of recent months. Economists predict
sales will continue to soften in the near future, which may put downward pressure on
home prices.

The slowdown in sales has provided a much-needed lift to housing supply, with
inventory up 10.8% from the previous month according to NAR, although supply
remains down 10.4% compared to this time last year, with only 2.2 months’ supply of
homes at the current sales pace. As the nation continues to explore ways to solve the
ongoing housing shortage, estimated at 5.5 million homes, the Biden administration
recently unveiled the Housing Supply Action Plan, which aims to expand housing
access through a number of administrative and legislative actions and help relieve the
nation’s housing crisis over the next 5 years.
If you have questions about the changing market, I'd love to help you navigate this!

If you are looking to buy or sell a home call 801-899-5719 or visit SpencerRhodes.kw.com.

08/07/2022

Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market, so you can make the most informed decision possible. Let’s connect to discuss your goals and what lies ahead, so you can determine the best plan for your move.

08/06/2022

Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you’ll want to rely on throughout the transaction. Don’t go at it alone. If you plan to sell, let’s connect so you have an expert on your side.

Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you’ll want to rely on throughout the transaction. Don’t go at it alone. If you plan to sell, let’s connect so you have an expert...

08/05/2022

Down payment assistance programs have helped many homebuyers achieve their dreams, and if you qualify, they could help you too. Let’s connect today so you can begin exploring your options.

08/04/2022

As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let’s connect to begin the process today.

As the housing market begins its shift back toward pre-pandemic levels, you could have a unique opportunity in front of you. With moderating levels of buyer competition and more homes actively for sale, your home search may have gotten a bit less challenging. Let’s connect to begin the process tod...

08/03/2022

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 balances current market demand, the values of homes in your neighborhood, where prices are headed, and your home’s condition.

Don’t pick just any price for your house. If you’re ready to sell, let’s connect to find the perfect price for your house.

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 balances current market demand, the values of homes in your neighborhood, where prices are headed, an...

08/02/2022

If you’ve been thinking about buying a home this year, it makes sense to act soon, even with inflation rising. That way you can stabilize your monthly housing cost and invest in an asset that historically outperforms inflation. If you’re ready to get started, let’s connect so you have expert advice on your specific situation when you’re ready to buy a home.

If you’ve been thinking about buying a home this year, it makes sense to act soon, even with inflation rising. That way you can stabilize your monthly housing cost and invest in an asset that historically outperforms inflation. If you’re ready to get started, let’s connect so you have expert a...