Trust Through Transparency
435-753-4577
Scott Thompson
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There is More to Property Management
Then Being A Care Taker
435-753-8180
I love data!
You should too, it helps with strategies
to make rational decisions when
selling and buying in an
interesting market.
Scroll down for current data...
Stay tuned for updates.
Tap or Click on any links below, be it a highlighted link or website.
If your home has expired from the MLS,
no longer on the market, have you
considered....
AlternativeMarketingStrategies.net
Also view: HowIsellYourHome.net
Click here for inflation
calculator, click
FOR FUN....
While we are waiting for data from
Nov 1st to Nov 30th.
Lets talk....
CacheValleyHorseProperties.com
From my link above there are Currently 24 horse properties on the market. One expired on the 19th, no longer on the market. That one needed more marketing about the qualities of the horse property, because that's who will buy that one, a horse lover.
On 1-AC in Wellsville.
Here's the data...
Going back 180 days from Nov 19th there were 63 horse properties sold $450,000 and up. 32 we under $550,000. The higher demand for horse property is between $450,000 and $550-$595 range. Most of the buyers are seeking "HORSE PROPERTY" more then a place to call home. BUT, and that's a BIG but, the wife also desires a place to call home. The wife is looking at the inside but they're biggest desire, as a horse lover couple is there place for the utility or use of their love for their horses. I would dare say the couple loves their horse more than each other. Watch the eyes and facial expressions of one caring for their horses. Spouses envy that look, but as a team they bond more for each other.
CacheValleyHorseProperties.com
10-1-2024 to 10-31-2024
Average days on market 52
Average list price $469,668
Average price drop $8,736.00
Ask me about the exact price dropped homes
Average sold price $460,932
# of sales 111
Ask me to send you the exact homes
sold during this period.
128 price reductions
during this period,
seller's lowering the price
of the home.
Ask me to send you the exact homes that
had price reductions during this time period period.
# of homes on the market
during this time, 484
# of homes that expired or left the market, no longer
on the MLS during the month of October 2024, 54.
26 of the 54 were taken
off market based on the
seller just canceling the listing.
28 expired from the MLS,
the listing expired.
If you are reading this and your home was one of those that either cancled or expired, have you considered
AlternativeMarketingStrategies.net
You do have marketing / selling options that are not being explained to you.
Never deny an opportunity before checking things out.
Text Opportunity To 435-753-4577
for a direct response URL link sent back to you.
What's The Value Of Your
Home In A Changing Market...
Cache County,
Box Elder County,
and Weber County
Go To...
HomeSearchingReport.com
Cache County 9-21-24 to 10-21-24
Average days on market 50
Average list price $483,886.00
Average price drop $11,843.00
Ask me about the exact price dropped homes
Average sold price $472,152
# of sales 105
Ask me to send you the exact homes
sold during this period.
126 price reductions
during this period.
Ask me to send you the exact homes that
had price reductions during this time period period.
# of homes on the market
during this time, 492
Like I have said in the past. We do not have a interest rate problem. we have an inflation problem. Notice the changes in the previous entries I made.
Text or Call
435-753-4577
Cache County 9-9-24 to 10-9-24
See just a few days ago below,
notice the change in
just seven days.
Average days on market 59
Average list price $478,519
Average price drop $8,306.00
Average sold price $470,213
# of sales 102
151 price reductions
during this period.
My predictions based on studying the market, the average appreciation through August 2026 is negative six point seven six percent, that is -6.76%
Based on how I predict the market,
MLS Inventory, and in this link,
look at #2 CPI and #5 PCE
You can see from the
MLS DATA, this happening.
Text Data To 435-753-4577
for a review of what your home
is worth in this changing market
Or click on this link
Cache County 9-2-24 to 10-2-24
Average days on market 62
Average list price $481,162
Average price drop $7,651.00
Average sold price $473,511
# of sales 98
145 price reductions.
See month by month data below, price reductions will continue, If you are thinking of listing now is the best time. People still buy, their reasons are rational. Rational buyers are willing to buy, it ALL depends on their situation.
There are buyer's who's rational decisions are holding off for different reasons. We are in a No Body's Market, but there will always be buyer's and seller's because they have to. Even dead people need real estate, they too make rational decisions.
When we talk, my advice maybe, hold off for different reasons. Always remember this, when buying and selling real estate, don't let desperate situations make you do desperate things. I am licensed to protect the public, I'm NOT GOING TO PRESSURE YOU TO BUY OR SELL!!!
My job as your agent for life is to help you make rational decisions in real estate. If that hurts me financially,
so be it.
My thoughts today...
Buyer's Seller's Enslaved By Debt. You will see a flood of lenders encouraging second Mortgages. I advise not to get into ANY debt during this economy. Buyer's and Seller's need to make rational decisions.
Don't Lose Your Purchasing power,
stay away from debt right now.
YourEconomicSituation.com
Cache County As of 9-27-24
491 listed homes on the market. Based on how I predict the market, we should have over 500 shortly. Currently, from Jan 1 2024 to 9-27-24 there are 217 active properties with price drops that have not been sold.
We will be seeing more price drops in this No Body's Market, not because of interest rates, but due to over inflated home values. Like I have always said, we have an inflation problem, not an interest rate problem.
If you have a home to be sold you need to get with me to list / price your home to sell while the prices are higher. You can not afford to have your home sit for month's. Let's use strategies to get the most out of your home in the shortest time possible.
Have you considered
AlternativeMarketingStrategies.net
Cache County
8-25-24 to 9-25-24
Average days on market 60
Average list price $468,684
Average price drop $5,226.00
Average sold price $463,458
146 price reductions
during this period.
48 were in Logan,
2 in Clarkston,
1 in College Ward,
8 in Hyde Park
13 in Hyrum
3 in Lewiston
1 in Mendon
2 in Millville
1 in Newton
13 in Nibley
10 in North Logan
3 in Paradise
16 in Providence
5 in Richmond
10 in Smithfield
10 in Wellsville
489 homes on the market
during this period.
of those 489...
120 are 2-Story
16 Bungalow / Cottage
2 Cabins
3 Condo Main Level
5 Condo Mid Level
9 Condo Top Level
5 Manufactured
1 Mid Century Modern
5 Mobile
3 Modern
Other= 2 Ask me MLS 1988635 and 188367
8 Patio homes
204 Ranch Rambler
10 Split Entry / Bi Level
19 Townhouse end row
57 Townhouse mid row
18 Tri/Multi-level
2 Victorian.
7 With swimming Pools
5 With hair salons
11 With Dog runs
16 With Basketball courts and
11 With Wet bars
18 Owner Agent
To see the above....
Click or Tap Below To see...
# of homes sold during this period 100
86d 13s 1sb uc pre 8-17-24
9-20-24
My thoughts on the recent federal reserve discount rate.
This is the rate the Fed loans money out to financial institutions. As of Sept. 19th 2024 it was 5.50%. They use the rate to control the supply of money, which in turn affects the inflation and interest rates. Watch DC after lowering rate, new spending bills will come up, and like both side of the aisle they'll pass and we the people wanting to buy can't because inflation just went up again. Watch the lag effect form lowering the rate. How I Predict The Market
Many buyers and sellers think this is a good thing. It won't mean much at all because we are in a No Body's market. We don't have a interest rate problem, we have an inflation problem and when they lower rates the lag effect will hurt us.
Remember what I said
a week or so ago. Scroll
down to see more on that topic
In the 1960's rates were 6-7%
1972 interest rates were at 9%
Once Nixon took us off the Gold standard,
everything started getting real bad.
But, it gradually got to the Nixon decision
when President Johnson made sandwich
coins, no more silver
1976-1978 interest 17-21%
Because we now backed the dollar by
the faith of our government, not gold.
I watched the pain and misery on the
building industry faces as they struggled
during this period of time.
1987 interest rates were at 10%
What the FED has done by dropping the rate is allowing the DC swamp to spend more money. What would you rather have, a normal market or more out of control spending.
I'm reviewing the MLS daily and
prices are dropping, but not enough. Your home has to be priced right in order to sell right. The longer you hold on during this No Body's Market, the more equity you'll be losing. HomeSearchingReport.com
If you sit on the market hoping someone is going to purchase your home, your home will be on the market three months or longer.
Let's get your home priced right and get it sold. You have a window of time to get as much equity as possible before prices drop even more.
You will see that the rates won't do much at all. If rates go down prices go up and people still can not afford to buy.
The real answer to all of this is to leave rates alone and see things go to normal.
HowIsellYourHome.net in a No Body's market.
How I Predict The Market, click
The Fed decreases the money supply by increasing the discount rate that they give to banks, by doing so it gives institutions less incentives to borrow. It decreases the lenders ability to loan money. This may sound stupid coming from me, but its the inflation we need to tackle, not lowering rates. Lower number one below and leave rates alone. This will reduce inflation. Lower the rates number 4 and than number 1 goes up in the lag affect.
1. Price or PV
2. Amort or time of the loan
3. Monthly payment
4. Interest rates.
So, what they did does not make any sense. We need lower home values, not lower interest rates. This is why it's so important to lower your purchase price when selling and price it right from the start. The only answer to this is election day is around the corner.
They NEVER should have had the rates in the past at 0, 1, 2 and 3 percent. We would not be in the mess we are in today and values would be affordable, not over inflated. Scroll down to see past comments.
2. Amort or time of the loan
3. Monthly payment
4. Interest rates.
So, what they did does not make any sense. We need lower home values, not lower interest rates. This is why it's so important to lower your purchase price when selling and price it right from the start. The only answer to this is election day is around the corner.
They NEVER should have had the rates in the past at 0, 1, 2 and 3 percent. We would not be in the mess we are in today and values would be affordable, not over inflated. Scroll down to see past comments.
My thoughts this period, consumers behavior in the market, they're holding their money, seeing hard times.
The Fed is spooked by their own actions.
Debt to income rato's are killing my tenants and tenant prospects when looking for rental housing.
You will see the day, just like I did in 2010, seller's were bringing money to the closing when they sold because they purchased too high pre 2006 through 2007.
The best time to list your home is now, BUT, it needs to be priced right, prices are dropping. You can not go high and then hope a buyer will make a offer below the overpriced home.
Market Statistics
Total Listings:477
August 17th to Sept 17th 2024
Average days on market: 57
Average list price: $466,050.00
Average price drop $5,409.00
Average sold price: $460,641.00
124 price reductions during this period.
58 reductions in July 17th to August 17th
15 reductions June 17th to July 17th
From my research, projected
annualized home prices appreciation
through August 2026 -6.76%
If your home has been sitting on the
market for the past 70-80 days reduce
it by 3.38% NOW!
You need me as your realtor!
But, always remember this. If your property is currently listed with a Brokerage, or you have an agency buyer agreement that is required by law when working with an agent, please disregard my offers. It is not my intention to solicit the offerings of other realtors or real estate agents you may be working with through an agency relationship agreement. I will be happy to work with them and cooperate fully.
You do not want to sit on a selling
price thinking inflation will save
the day. This is not a seller's market,
it's not a buyer's market. It's a No Body's market.
We will be seeing more homes
added to the market this time
next month, It's my prediction.
We do not have an interest rate problem, we have
an inflation problem.
Even if the rates drop,
it will not be too great of a
deal. It's the inflation that
is killing the market, not so much interest rate.
Notice what else was happening in the past. Pres. Johnson, Quarters became sandwich coins, silver coins no longer made. War and the appetite for spending started. 1971 Nixon took us off the gold standard. The dollar was backed by the government, no longer gold.
In the 1960's rates were 6-7%
1972 interest rates were at 9%
1976-1978 interest 17-21%
1987 interest rates were at 10%. In the 80's we were able to handle inflation better then today. So in my opion, we have an inflation problem, not an interest rate problem.
Values are dropping and you'll want me in your corner to get it sold before values drop even more, but you need logic and reason, don't let it sit for 60-90 days, price it right.
You'll see more homes come
on the market, and an increase
in expired listings.
Need to price homes to sell, too many hopes and wishes of past market trends are making it harder for sellers to give up what equity they think they have in a different market today VS the past.
HowIsellYourHome.net in an interesting market.
How I predict the market, Click
You can slowly see this happening...
Business insider...
10 cities in the NATION where home prices are set to decline the most over the next 3 years with real-estate values overinflated, according to Moody's. Logan is #5 Provo #1
Click Here
Market Statistics
Total listings 339
April 1st to May 24th
As of today, 114 of the 339 were price drops = 34%
What's your home worth
in a changing market
Click
Market Statistics
April 1st to April 30 2024
Average days on market: 55
Average list price: $520,687.00
Average price drop $6,654.00
Average sold price: $514,033
Number of sales: 96
Click
What Sold in March 2024 Cache
County, Click
Inventory will be increasing
even more in 2024 and
demand will remain high
BUT...
There are four things in a
contract that are interrelated with
each other that will make it
difficult for Seller's and buyers.
1. Price: Overinflated....
Business insider...
10 cities in the NATION where home prices are set to decline the most over the next 3 years with real-estate values overinflated, according to Moody's. Logan is #5 Provo #1
Click Here
2. Down payment:
Buyer's and Seller's have concerns with economy. Inflation is killing everyone. Down payment harder to come by. This will create more
inventory and homes will remain on the market longer.
3. Interest rate:
Even if rates drop
It's still difficult with monthly
payments. One of the other three
need adjustments.
4. Time period:
15 yr = higher pmts. 30=high pmts.
Going beyond 30 will make payments lower.
Items 1-4 need adjustments in order to
see stability, and we are not seeing it yet.
How I predict the market, click
3-1-24Currently our inflation rate is 3.48 % and there will be a lot of fluff in 2024 due to an election. The goal is 2% and why are they thinking of lowering interest rates in April when their goal is 2%. Lowering rates will only increase the inflation rate. Elections are the reason for lower rates. Not a good idea to lower them, too dangerous.
Click here
What's reverse inflation, Click
What Sold, 2-21-24 to 2-29-24.
18 homes, click here
What Sold, Days on market, etc.
Feb 8th 2024 to Feb 20th 2024...
17 homes sold during that time. And, 256 homes didn't. 31 price changes during this time. Cache Valley
Here are the solds...
Orgional list price: 345,000
Sold price: 315,000
Price per Sq Ft: 264
Days on Market: 97
List date: 10-20-23
Orgional list price: 565,000
Sold price: 560,000
Price per Sq Ft: 169
Days on Market: 105
List date: 9-27-23
Orgional list price: 299,900
Sold price: 275,999
Price per Sq Ft: 158
Days on Market: 9
List date: 2-5-24
Orgional list price: 308,000
Sold price: 295,000
Price per Sq Ft: 224
Days on Market: 21
List date: 1-19-24
Orgional list price: 299,900
Sold price: 287,000
Price per Sq Ft: 211
Days on Market: 44
List date: 1-3-24
Orgional list price: 385,000
Sold price: 379,900
Price per Sq Ft: 195
Days on Market: 38
List date: 1-2-24
Orgional list price: 389,900
Sold price: 335,000
Price per Sq Ft: 188
Days on Market: 121
List date: 10-11-23
Orgional list price: 675,000
Sold price: 551,000
Price per Sq Ft: 229
Days on Market: 137
List date: 10-6-23
Orgional list price: 360,000
Sold price: 360,000
Price per Sq Ft: 180
Days on Market: 45
List date: 12-30-23
Orgional list price: 569,900
Sold price: 554,000
Price per Sq Ft: 174
Days on Market: 152
List date: 10-12-23
Orgional list price: 273,000
Sold price: 272,500
Price per Sq Ft: 241
Days on Market: 89
List date: 11-13-23
Orgional list price: 309,900
Sold price: 303,000
Price per Sq Ft: 221
Days on Market: 41
List date: 12-29-23
Orgional list price: 434,900
Sold price: 420,000
Price per Sq Ft: 177
Days on Market: 269
List date: 5-15-23
Orgional list price: 995,000
Sold price: 850,000
Price per Sq Ft: 168
Days on Market: 154
List date: 9-20-23
Orgional list price: 545,000
Sold price: 525,000
Price per Sq Ft: 158
Days on Market: 52
List date: 12-18-23
Orgional list price: 579,900
Sold price: 578,000
Price per Sq Ft: 182
Days on Market: 24
List date: 1-17-24
Orgional list price: 849,900
Sold price: 810,000
Price per Sq Ft: 216
Days on Market: 220
List date: 8-11-23
What buyers are looking for...
Neighborhood Cycle or Change, Click
Situs, Situs, Situs or Location, Location, Location, Click
HomeSearchingReport.com
Neighborhood Cycle or Change, Click
Situs, Situs, Situs or Location, Location, Location, Click
HomeSearchingReport.com
Seasoned Broker 41+ yrs
I'm an UnTraditionalBroker.com in an
alternative real estate marketing world. Texting is best 435-753-4577.
If your home has expired from the MLS, no longer on the market, I have alternative marketing strategies that are DATA driven when selling your property....
You Should Never Deny
A Strategy / An Opportunity / And Several Options
Before Checking Things Out!
If your property is currently listed with a Brokerage, please disregard my offers. It is not my intention to solicit the offerings of other realtors you may be working with through an agency relationship agreement. I will be happy to work with them and cooperate fully
Business insider...
10 cities in the NATION where home prices are set to decline the most over the next 3 years with real-estate values overinflated, according to Moody's. Logan is #5 Provo #1 IN THE NATION!!!!
Click Here Moody's economists expect US home prices to fall by 4.5% in the years to come. I saw this coming in May and June of 2022. But some markets will see worse declines than others amid low affordability and inflated values. Home prices in cities like Provo-Logan, Utah and Clarksville, Tennessee will fall most, Moody's says. Data taken from NAR and other IDX-MLS data that funnel back to NAR
Things You Should Know Before
Listing Your Property.
Data from 1997 to present date. I'm the only one tracking this data, the only one. Data allowing you to sell your home right the first time. I will show you this data when we meet, 85% Pre COVID, 90% 2021-22 and 95% to 99% 2023. And, Jan 2024 89%
Password protected, it has taken way too long to just give this information away, 27 plus years of data. If you do not take advantage of this data, you will lose money when listing your property. Buyer's need this data as well. See video below...
What took place from
Feb 1 2024 to Feb 7th 2024...
13 homes expired during that time. When sellers cancel or a listing expires from the MLS it could be several reasons, but usually they're tired and it was over priced. Here are the prices of those homes...
$447,850 $825,000 $374,999 $329,900 $749,900 $518,900 $625,000 $819,900 $365,000 $565,000 $324,990 $319,990 $930,000.
Based on my data research, these homes need to be 4 to 6 percent lower in price. When we meet I will show you why. Ask about inflation rate.
There were 9 homes that sold during this time. Average days on market 115.44 days. All had considerable price drops to make the sale happen.
What Happens When Your Property Is No Longer On The Market...
What happens next, a flood gate of agents will try to connect with the seller and try to re-list the property. I maybe one of them, Most likely the home was over priced and the seller purchased the home at an inflated bubble purchase and now they're trying to sell as the pieces of the balloon fall to the ground.
I'm the broker who you will gain Trust Through Transpency. I will not tell you there are rainbows and unicorns during economic highs and lows to get the listing. I will present what I have to offer and leave it at that.
Interest Rates Will Temporarily
Drop This Election Year.
2024 Its an election year and that will mean interest rate drops. We will most likely see 5 drops in 2024.
March will most likely be one. I guessing 25 basis points each drop. You might want to consider a market evaluation on your property before the crazy starts.
And, you'll need to based your value on most recent solds and not a computer generated CAM. I personally feel you need to add my own analysis chart to the computer gererated CMA. We will look at Seller-Buyer Behavior Analysis.
Pulling the right data will help in that evaluation. There are data links out there through NON-COMPUTER generated data to add to your evaluation of value. NOT SIX MONTHS BACK. Six month is what an appraiser goes back to. Prices have dropped since then. Logan Utah is number 8 in the nation for price drops. Click St. George #6
Provo #7 Salt Lake City #23
LOGAN...
Year-over-year price change: -3.3%
Median home price in Q3 2023: $421,000
Median home price in Q2 2023: $440,600
Median home price in Q3 2022: $435,200
Source: National Association of Realtors
What I said in October 2023
The days are long gone for sellers to price their homes at pre sold 180 days data. Its over!!! If you're going to list, it needs to be lower then the sold 180 day data, as of 10-31-23. It's a limited buyers pool and you need to be rational when listing your property right the first time. Don't get stuck on data chasing thinking your home is worth 180 day ago data. I experienced the 1980's, I experienced 2008 and sellers were bringing money to closing, because they were upside down bubble buyers. I'm not going to lead you to think its a beautiful sunny day when I know different based on the indicators, Click
As a buyer's agent and a seller's agent my goal is to help you make rational decisions when the elephant is in the room. Buyer's, make sure you are safe, you may need to stay on the sidelines and hold off buying. If you do buy make offers within your rental budget and the costs involved in the home.
Those selling...
Put yourself in the buyers shoes and think this, would I buy my home based on the terms and conditions I'm trying to sell it at in a screwed up economy. You need to stay current with recent sold data and buyer behavior. Their behavior will be the outcome of their purchase.
And, if you are not thinking like buyers when selling your home right the first time, they'll buy someone elses property.
Let's review the data For Jan 2024...
Check out the sold prices in 2022 and 2023 VS 2024.
What Took place in
January 2024. 66 solds
Click
