Comments on: Have Salt Lake Home Prices Gone Too Far http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/ Awesome Resource For Real Estate Info Sat, 22 Nov 2008 09:13:05 +0000 http://wordpress.org/?v=2.3 By: Salt Lake Real Estate Absorption Rate http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/#comment-59 Salt Lake Real Estate Absorption Rate Wed, 14 Nov 2007 14:11:30 +0000 http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/#comment-59 [...] are selling and the rest are not. See the graph for The Tale of Two Markets Based on the data from the previous post. The days on the market for priced correctly and that are in good condition is fairly [...] […] are selling and the rest are not. See the graph for The Tale of Two Markets Based on the data from the previous post. The days on the market for priced correctly and that are in good condition is fairly […]

]]> By: Alex Goldie http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/#comment-55 Alex Goldie Wed, 14 Nov 2007 00:46:01 +0000 http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/#comment-55 Jealous is right, what we would give to go back to those times!!! Certain parts of our market have literally YEARS of inventory. The 1.5 million+ segment has over a DECADE of built-up inventory. The quotes you are offering have their time and place, however, and there have been broad declines in the national market as a whole during certain stages of history. If you've ever read Robert J. Schiller's "Irrational Exuberance," or even just SEEN the graphic associated with the past 115 years of U.S. housing prices, you should appreciate that even if your market is counter-cyclical with the national trend, it can certainly go back the other way. Ours is feeling the effects of being unaffordable in the face of slightly rising interest rates. What's humerous, however, is that most of the bears have been predicting a 'crash' since 2003! If you keep saying that something bad is going to happen you'll eventually be right, but it's tough to sound smart announcing the end of the world during prosperous times. Anyways, enjoy these times while you've got them, and save your money for when OUR MARKET is good, and YOURS is in the DUMPS! I'll be sure to keep you WELL INFORMED when that eventually happens! And thank you for the reminder of what 2005 was like. Jealous is right, what we would give to go back to those times!!! Certain parts of our market have literally YEARS of inventory. The 1.5 million+ segment has over a DECADE of built-up inventory.

The quotes you are offering have their time and place, however, and there have been broad declines in the national market as a whole during certain stages of history. If you’ve ever read Robert J. Schiller’s “Irrational Exuberance,” or even just SEEN the graphic associated with the past 115 years of U.S. housing prices, you should appreciate that even if your market is counter-cyclical with the national trend, it can certainly go back the other way. Ours is feeling the effects of being unaffordable in the face of slightly rising interest rates.

What’s humerous, however, is that most of the bears have been predicting a ‘crash’ since 2003! If you keep saying that something bad is going to happen you’ll eventually be right, but it’s tough to sound smart announcing the end of the world during prosperous times.

Anyways, enjoy these times while you’ve got them, and save your money for when OUR MARKET is good, and YOURS is in the DUMPS! I’ll be sure to keep you WELL INFORMED when that eventually happens! And thank you for the reminder of what 2005 was like.

]]> By: Eric Ransom http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/#comment-54 Eric Ransom Tue, 13 Nov 2007 14:29:10 +0000 http://www.3poundsofrealestate.com/2007/11/13/have-salt-lake-home-prices-gone-too-far/#comment-54 Wow! Looking at your days on market makes me jealous. We are over 100 at this point! This is not that out of whack for our typical market, but up 15 days or so. Thanks for the insight on Salt Lake pricing. I used to spend quite a bit of time in Park City as my in-laws lived there. They sold out just before the Olympics. Wow! Looking at your days on market makes me jealous. We are over 100 at this point! This is not that out of whack for our typical market, but up 15 days or so.

Thanks for the insight on Salt Lake pricing. I used to spend quite a bit of time in Park City as my in-laws lived there. They sold out just before the Olympics.

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