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February SunCrest Market Update
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2019 Utah Housing Forecast
Last month, we told you about some bigger housing trends across the US and what is predicted for 2019. But recently, we sat down with Windermere’s chief economist Matthew Gardner to talk about trends that will specifically affect Utah.
Bubble and Balance
Is there a housing bubble? What is unemployment doing? Gardner predicts the psychology of buyers and sellers will play a significant role as the housing market becomes more balanced. The level of buyers and sellers will begin to equal out and we’ll see a more healthy level of home price appreciation.
Our take: The SunCrest outlook shows those subtle changes are already starting to re-shape the landscape. All that pent up buyer demand may soften as more sellers list their homes in the spring and summer, so we anticipate an uptick in the number of days a home is on the market as well as a more gradual home value appreciation instead of instant equity.
Interest rates
Gardner isn’t as bullish as some of his peers, but is calling for rates to raise to just under 5.5% by year’s end. This forecast is still below the historical average but those who have been in the market since the latest recession may reconsider moving when faced with giving up their 3% rate.
Our take: In SunCrest, we anticipate some homeowners will look at home equity lines of credit and choose to renovate or remodel, rather than selling, especially if they’d be looking to relocate nearby. If rates rise and home appreciation returns to normal, it may cause would-be sellers to stay put.
Millennials
This isn’t the first time we’ve written about Millenials (ages 21-37), and wont be the last. Gardner highlighted them as the country’s largest group of home buyers, but they’re facing a rising affordability challenge. Low inventory, rising interest rates, and eight years of price appreciation are causing some Millenials to stay in rentals (or with parents) longer as they jockey for position in the market.
Our take: The average Utah millennial will face an affordability challenge if looking for a single family home in SunCrest. Outside of the Stoneleigh Heights townhomes, the average SunCrest median single family home price was $495,383 in 2018, well above the average purchase price Millenials are spending. This has a real effect on the way you market your home when selling, and how to make the right offer when buying.
Source: Windermere Economics Ellie Mae - Sales between Jan. 18- Dec. 18 keepingcurrentmatters.com utahrealestate.com
Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market. The previous month’s SunCrest housing information and future editions are released monthly.
15747 S. Rolling Bluff Drive | Life + Style
$825,000 | 4,666 sq. ft. | 3 beds | 3 baths | MLS:1572906 – Windermere
Pardon us for pointing out the obvious, but the word “lifestyle” is just a combination of “life” plus “style”. When you think about it, that’s what an exceptional home provides: all the ingredients for a happy life, curated with style under one roof. This home has mastered that combination and brings you the ultimate in SunCrest lifestyle.
The size of this kitchen provides the kind of life you want for entertaining or gathering friends and family, but it’s the thick quartz countertops, custom cabinetry, and Thermador appliances that give it the style.
Main floor living with a mudroom/laundry/pantry and a palacial master suite? Life. Expansive windows at every turn exposing those coveted SunCrest postcard views and a master closet so big you’ll need weekends at the mall just to fill it? Style.
The formal dining (or living) room has vaults, beams, and gleaming hardwood floors for all that entertaining, and there’s a dedicated office, guest bedroom, and storage room downstairs for all that life throws you.
Relax in style, though, in that theater room with its 108″ screen and tiered seating, or step outside during commercials to wet your whistle at the wetbar.
The yard is functional as another living space, but stylish with its built-in hot tub, rock waterfall, brick paver patio, and flagstone zen path.
This is SunCrest life-style you’ve been looking for.
15228 S. Eagle Chase Drive | Savvy Square Feet
$375,000 | 2,706 sq. ft. | 4 beds | 3.5 baths
Not all square feet are created equal. A warehouse, for example, has tons of footage but you wouldn’t want to live there. So when we say this house has a generous 2700 square feet, we feel it’s important to be more specific. We’re going with savvy. Those are 2700 savvy square feet in an incredibly smart floor plan.
The kitchen is airy and bright thanks to its high ceilings, big windows, and sliding glass door that leads to the landscaped backyard, and its layout features a standalone island (perfect for potlucks) and a separate dining area.
The wide open family room rounds out the home’s desirable floor plan on the main level, and the efficiency continues upstairs where you’ll find 3 bedrooms, 2 bathrooms, and the laundry room.
The sellers rave about the master bedroom with its view of Mt. Timpanogos and our our favorite is the bonus loft or office. Whether it’s grabbing a a book/laptop for you or toys for the kids, that cozy space is just the right size to give you maximum flexibility.
Downstairs finds a large second family room, 4th bedroom and another full bath. Fresh paint throughout just seals the deal as one of the sensible homes at this hard-to-find price point.
The only thing that makes this home smarter is whoever is smart enough to jump on it first!
1948 E. Eagle Crest Drive | Love At First Sight
$715,000 | 4,906 sq. ft. | 6 beds | 3.5 baths
Honestly, sometimes the home buying process can feel like a dating game. Swipe left. Swipe right. Glance at a few facts. Set a date to meet in person. Are you in or out? As tedious as that sounds, we get it. You’re making a long-term commitment and the relationship you have with your house is important: you’re moving in together! So please, do take some time to get to know this home.
Every aspect of it was designed by the sellers – the original owners – to capture the magnitude of its picturesque setting. Call us romantics, but we sorta had love at first sight. Perched on the coveted Eagle Crest Drive, this home overlooks Utah Lake, Utah County, and Mt. Timpanogas.
The large covered deck and walkout patio provide not only the views you’ll be bragging about, but also give you walking distance access to SunCrest’s one-of-a-kind trail system. Add on a brand new, multi-acre park that’s nearing completion and we’re on lifestyle overload.
And yes, it has gorgeous looks on the outside, but haven’t we all learned it’s what’s on the inside that counts? The interior layout is balanced brilliantly between its 3 levels and features plenty of windows, large spaces to entertain, and generous amounts of space to relax from the busy lives we’re all living. We love the the oversized main floor master bedroom for its vaulted ceilings, sitting area, and wall full of windows; the 5-piece bathroom is a perfect match.
The sellers rave about how easy it is to entertain here. The main floor living rooms flows right to the family room that features 20-foot ceilings decorated with windows. The accompanying kitchen just underwent a remodel to include brand new quartz countertops and stylish backsplash – swoon!
Upstairs features some of the best views from the home’s upper 2 bedrooms, full bathroom, and open loft. Downstairs finds a unique suspended garage that’s a perfect setup for a state of the art theater room. Sometimes the best part of a relationship is staying in, right? A full kitchen, second laundry, family room, and three additional bedrooms are perfect for families or visitors.
You’ve been flirting, looking at photos. It’s time to meet. Come fall in love and get to the happily ever after part already.
15073 S. Round Tree Lane | Welcome change of pace
$425,000 | 3,098 sq. ft. | 4 beds | 3.5 baths
Life throws a lot of curveballs – we get a front row seat to a lot of it. Whether it’s a new job, a change in family size, or a change in lifestyle, a lot of times those changes mean it’s time to move homes. More and more, that means people are moving to SunCrest for its flexibility and for the lifestyle it offers.
Praised locally by hikers, bikers, and adventurers alike, SunCrest is known for those who like explore. Miles of open space and trails are intertwined with unbeatable community amenities. The unique location above much of the Wasatch Front means you get year-round beauty (not to mention breathable air), but you’re just minutes to I-15 and SLC to the north, and even closer to Lehi’s Silicon Slopes.
This house offers all that flexibility for the life change you’re trying to make. From the street, you’ll notice this 2-Story has a 3 car garage and a large, flat, fully landscaped yard.
We hear all the time that people want a house that’s easy to maintain and with a layout that makes sense. Here you have that – the upstairs finds 3 bedrooms, 2 bathrooms, and a loft to maximize your footage.
Downstairs compliments the home’s layout with another family room, bedroom, and full bathroom.
We’re big fans of the main floor here. Function and form without the unwanted fluff. Simplify! A hard-to-find formal living and dining room handle get-togethers or parties, yet still offer a place to practice piano, study, or a causally visit anyone who also wants to enjoy the SunCrest lifestyle.
The sliding glass door leads out to a large Trex deck, nestled into the mountainside overlooking the Lone Peak Wilderness. Anytime you can pair indoor and outdoor space together is a win in our book.
Fully finished with hard to find details at the price point, this home is definitely a welcome change of pace.
1917 E. Aspen Leaf Place | Take a second. Breathe.
$635,000 | 4,359 sq. ft. | 5 beds | 3.5 baths
When did life get so hectic? So noisy? Chances are, if you’re reading this right now you’re on the hunt for a new home and your days seem even more unsettled than normal while navigating the housing market. Take a second. Breathe. Then, come to this quiet cul-de-sac, and stand at the curb to admire its welcoming appeal, where custom lighting decorates the entire exterior and showcases nearly every piece of perfectly manicured greenery.
When you’re ready, step inside – out of the hubbub and into tranquility. The kitchen, dining and family room are airy, bright and wide open to each other.
We love how well the space pairs oversized windows and view-friendly sliding glass doors where you can look out on the restless valley below and breathe easy above it all.
The main floor is balanced by our dream home office (but why work when you can relax?) and a formal dining and living room that are both warm, inviting and begging for a nice dinner or book club party.
The master bedroom upstairs is one of the largest we’ve seen in while. The second story views are nearly 270-degrees and feature everything from Lone Peak to the Oquirrh Mountains.
Three other bedrooms, a laundry room, and a second family room that’s an unexpected yet welcoming space for kids, guests, or whatever other ideas you have, round out the upstairs level.
With the world now melted away a million miles below you, you’re ready for the most relaxing part of this house: the patio. The ipe (pronounced ee-pay) deck stretches along the back of home and overlooks a flagstone patio, fire pit, and soothing waterfall. Sit in the hot tub listening to the tumbling water while gazing at the twinkling lights.
This is what life is supposed to be like, and the payoff for finding a new house.
2073 E. Ash Down Lane | So much to say
$625,000 | 4,359 sq. ft. | 5 beds | 3.5 baths
This home has so much going for it that we’re having a hard time keeping this concise. Located in Eagle Ridge, a quiet pocket community in SunCrest that’s filled with mountain and valley views, it’s pretty rare to find it for sale as homes in this ‘hood rarely find their way to the market.
The upstairs is highlighted by an oversized master bedroom so impressive that you just might refer to it as “The Master Wing.” Add 3 more bedrooms, a laundry room, and a promenade that overlooks the open family room and kitchen for an impressive level.
Not be be outdone, downstairs has 9-foot ceilings and is finished with another bed, bath, and large family room.
Our favorite is the main floor space because of just how versatile it is. A trio of multifunctional rooms can handle a telecommuter, entertainer, bookworm, or dinner host with ease.
The kitchen is magazine-worthy. White cabinets, stainless appliances, granite countertops; we can’t stop talking about it and neither will you.
Directly off the kitchen you’ll find access to a lush, green backyard that backs right up to a park.
There’s so much more to say, but you should just come and see this beauty for yourself.
