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2022 E. Oak Summit Drive | Intentionally Designed
$599,900 | 4,158 sq. ft. | 7 beds | 3.5 baths
Intentional. Being intentional. That’s what was on the homeowners’ mind when they built this home.
From the precise placement of the home on the lot, to a layout that would provide maximum usage of space while still creating easy breezy living; this home was crafted with intentional detail.
The lot, for example, is intentionally placed to take in the picture perfect views that SunCrest is known for. Enjoy a cup of joe as you watch sunrises over Mt. Timpanogas or roast a ‘mallow as you enjoy the evening shade on nearly a third of an acre – fully landscaped.
That intentional outdoor space is probably our favorite. Start that grill or save us a spot on the covered deck; relaxing with neighbors never gets old.
Inside, the intent was for main floor living and less up-and-down time. The outcome? More time spent in the large great room that has windows spanning all around.
The master retreat was created with the intent to feature views of both Lone Peak and Mt. Timpanogas.
Downstairs was intentionally designed for multiple uses: tweens, teens, babies, or booomers-no matter the age, the family room, full kitchen and four bedrooms can be enjoyed by anyone or whatever purpose you intend.
May SunCrest Market Update
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Appraisals, appraisals, appraisals
It’s no secret that SunCrest home values have increased dramatically over the past two years. Gone are the days of homeowners drowning with an “underwater” mortgage (yay!) and many SunCrest homeowners who purchased at the bottom of the market are sitting on substantial amounts of equity. However, in a hot SunCrest real estate market, buyers and sellers are being faced with a challenge: The Appraisal.
Unless it’s an all cash purchase, each home must be sold twice. First to a prospective buyer who makes an offer, and second to the appraiser who must agree that it’s worth what a buyer is offering. When a market sees rapidly rising prices, appraisal values may lag behind and that second sale can be more difficult than the first.
In a sizzlin’ SunCrest real estate market, SunCrest homes are receiving multiple offers and offers above list price. The appraiser is then tasked with supporting the buyers and sellers opinions of value. The problem? In many cases, the appraiser’s opinion of value is different than the contract price. According to a recent report by Quicken Loans, the gap between homeowners opinion of value and that of an appraiser continues to widen. This growing gap is causing some hiccups to an already emotional process.
Our take:
The appraisal came in low. Now what? Our advice: be prepared. At the time an offer is submitted and reviewed, discuss the options of the “what if the appraisal comes in low?” Are the REALTOR and seller prepared to dispute the value if they feel it is wrong? Does a buyer have the ability to pay above the appraised value and/or work with their lender to restructure a loan? Having a professional on your team who is able to support, educate, and most importantly communicate the contract value may not only help a buyer or seller achieve their SunCrest real estate goals but save potentially thousands (even tens of thousands) in the event of a challenging appraisal value.
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.
January SunCrest Market Update
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2016 SunCrest Real Estate Review
With 2016 now in the books, it’s a good time to reflect on the last year, and look ahead to the next. In 2016, we saw the highest levels of activity in a decade. Homes sold more quickly, inventory was scarce, and interest rates remained low. Like you’re annual checkup with your doc, here’s the report on the last year of SunCrest real estate.
SunCrest Homes sold quicker
In 2016, SunCrest homeowners saw their homes spending less time on the market. The average days spent on the market was 53 days, nearly half (91 days) of what it was in 2015.
2016 SunCrest Market Summary
SunCrest Inventory was scarce
Buyer demand continues to outpace the supply of homes for sale. Nationally, year-over-year inventory levels have dropped each of the last 18 months. Inventory now stands at a 4-month supply, well below the 6-month supply needed for a ‘normal’ market. In SunCrest, we are below a 2-month supply and have been for the past year. Based on this theory, if nothing else was listed and the current demand remained the same, every home currently on the market in SunCrest would be sold in 2 months.
Interest rates remained low
In addition to rising home prices and limited inventory, mortgage rates were a hot topic in 2016 resulting in an active real estate market. The presidential election, however, did impact rates. Rates increased nearly three quarters of a point (or approximately 3.5% to 4.25%) but have since stabilized. Further, citing an improved economy and further job growth, the Federal Reserve recently raised interest rates. It’s anticipated they’ll do this three times, in each of the next two years.
Our take:
We are often asked, “How’s the market?” Our answer: “Which segment of the market? Townhomes? Custom homes? Starter? Move up?” Depending on what segment may impact the answer. Townhomes are selling in a matter of days, whereas the average time for half million dollar and above homes is nearly double (or triple!) the average of all SunCrest. And new construction? Well, you get the point. It certainly can be a good time to buy or sell, but everyone’s timing, housing need, work situation, and/or family decision is different. We believe in analyzing and arming you with relevant information to make an informed decision specific to your needs.
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.
July SunCrest Market Update
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Lack of listings
As we move towards a complete housing recovery, we believe that the housing crisis is behind us. High five! Doesn’t it feel so good to say that? The total number of SunCrest homes that have sold is up. SunCrest homes are selling faster. SunCrest homes are appreciating. Distressed property sales (think: short sales and foreclosures) have almost completely disappeared in SunCrest.
However, a new challenge has surfaced to affect the SunCrest real estate market — a lack of SunCrest homes for sale. As predicted, buyer demand has remained strong throughout the summer, but there just aren’t enough homes for them to buy. A lack of sellable inventory could be causing a slowing to the SunCrest market.
Last month we discussed how the price of any item is determined by the supply of that item, and the market demand. We closely follow something called “absorption rate,” which basically measures how many homes sell over a given period of time. In 2016 so far, the current monthly absorption rate in SunCrest is 11.33. Or, roughly 11 homes are selling per month in 2016. Our current inventory? Just 22 homes for sale, or a 2-month supply of homes. You picking up what we’re putting down?
Our take:
A lack of listings could be great news for people selling this summer. Sellers may see multiple offers, spend less time on the market, or face less competition for others who aren’t quite ready. Now may be a time to list if you’ve be considering selling. For buyers, even though there’s more competition for fewer homes, interest rates remain at historic low, keeping the cost to own affordable for many.
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.
REALTOR Magazine 30 Under 30 Finalist
I don’t typically post this kind of stuff, but I’m so excited and grateful that I can’t keep it in. I am currently among 50 finalists vying to be named “30 under 30” by REALTOR magazine, the official magazine of the National Association of Realtors. This national recognition is only given to 30 rising young stars in the real estate industry under the age of 30.
From the bottom of my heart, thank you! Without SunCrest, this recognition wouldn’t be possible—this community, this lifestyle, and most importantly, your support. I am extremely grateful to be among the final 50 and wouldn’t be here without SunCrest. THANK YOU!
Now from 10AM MST March 25th I could use your vote! One “30 under 30” honoree will be selected by the public as a “web choice winner” while the other 29 by a panel of judges. You can vote once daily per IP address (think: phone, desktop, and/or tablet!)
Click here to vote!
2000 E. Seven Oaks Lane | Views, spacious, and flooded with light
$500,000 | 3,879 sq. ft. | 5 beds | 3.5 baths
For those who like to be just a hop, skip, and jump from the action, you’re in luck. At the heart of SunCrest (think: green space, clubhouse, exercise room, pool & hot tubs, and The Ridge Market and Cafe) this home is situated beautifully.
And while you’re just a beat away from the hubbub, you’re tucked quietly away in a nifty little neighborhood dotted with custom homes and punctuated with otherworldly views overlooking Salt Lake County.
If by chance you find yourself needing a break from the sunrises or sunsets from the home’s many windows, the plantation shutters help provide a little alone time in this former model home.
The main floor, complete with airy vaults and open spaces, provides ample room for socialites who love to entertain or families that love to get together.
Check that covered Trex deck, it’s the sellers favorite spot to unwind.
The upstairs was designed with comfort in mind and each room is open and spacious. The master…wow. Functional, elegant (note that fireplace), and just look at those views!
The bottom level is the complete package. Flooded with light, walkout, full kitchen, and is the perfect place to plot your next SunCrest adventure or just stay inside and soak up the scenery.
15121 S. Auburn Ridge Lane | Tickets to the 2-story
$350,000 | 3,259 sq. ft. | 5 beds | 3.5 baths
Know what the hottest ticket in town is? It’s a SunCrest 2-story. Seriously. Lately, it seems that as soon as they pop up, people are clamoring to take a peek. Well, now we’ve got your tickets to this rarely available show. Unlike your last big show, however, this one has plenty of room to wiggle. There are no immediate neighbors to the north.
On the inside, the wise use of window space helps it soak up loads of natural light. The opening act, just behind the front door, is a sky-high (well, almost) entry and over 3,200 finished square feet of light, bright, and many a “this layout is awesome!”
The upstairs, (4 beds and 2 baths) provides comfort, convenience, and space for each of your families supporting roles.
The main event, aka: the kitchen/dining/family, are dressed with gorgeous manufactured hardwoods and open one to another. Family or friends can be together as you cook, do homework, or play charades.
Downstairs the stage is set for a theater room, office or workout nook, and another room for kids, guests or grandparents.
Reach us today so you can catch spring’s debut from the covered front porch, or out the back door with the fully fenced and landscaped backyard. Encore!
