September SunCrest Market Update


Coronavirus Is Changing How Homes Look
We’ve all been spending more time at home. With quarantines and business closures, you’ve probably memorized the number of tiles in your kitchen by now. It’s no surprise that more time at home has meant some emerging trends in real estate. We’ve outlined a few things we’re seeing from renovations, new construction, and wish lists from current buyers.

Home Office
Working from home is the new norm and some employers are scrapping plans to return to office life. Having a dedicated workspace inside the home is the hottest new must have.

Home School
Whether it’s hybrid classes or 100% home school, class is not fully back in session. We’re seeing flexible spaces being turned into dedicated learning spaces—essential for for both parents and children.

Home Gym
Having room to maintain a healthy lifestyle at home—mentally and physically—has taken a prominent role with many gyms closed or reduced capacity. Headspace, bodyspace, or space to stretch out is crucial.

Home Landscaping
A place to escape to the 4 walls we live and work is necessary, no matter the season. Outdoor spaces can become an extension of your home and weave the outdoors and indoors together, and we’re seeing plenty of new patios, decks, furniture, and revitalized lawns and gardens.

Our Take
The pandemic is changing our lives, and our homes are at the center of it all. People are moving, upgrading, or downsizing, for a variety of different reasons today. You may not have space to implement all the trends we’re seeing, but if you’ve been trying to decide if now is the time to buy or upgrade your home, we recommend talking to a professional to see what’s realistic, and where you get the most bang for your buck.

Posted on September 16, 2020 at 3:58 pm
Scott Steadman | Category: SunCrest Market Updates | Tagged , , ,

SunCrest Neighborhoods Map

There have been a few moments lately where we thought it would be handy to have a map of the different neighborhoods in SunCrest. Surely there’s an easy-to-read map of the community that we could keep handy when people post about missing pets, runaway garbage cans, or wildlife sightings, right? Well, there is now.

We had a lot of fun creating this map and we hope it’s helpful as you navigate the neighborhood or post about things going on in SunCrest.

SunCrest Area Map

Posted on September 15, 2020 at 4:30 pm
Scott Steadman | Category: SunCrest Community | Tagged , ,

August SunCrest Market Update


How To Buy a House in a Competitive Market
Last month, we shared that homes for sale are in short supply. This month we’re seeing the same, but in addition, we’re now seeing a new surge of buyers enter the market. Record low interest rates have made it a great time to buy, and everyone who is stuck at home seems to want to make a change. Simply put, it’s a fiercely competitive market if you’re looking to buy a house.

Making Your Offer Stand Out
Sellers are seeing multiple offers, sometimes into the dozens. With so many offers to choose from, it’s likely that less attractive offers will be rejected. Here are 3 tips to make your offer stand out.

1) Price. Like it or not, we’re not seeing a lot of “room for negotiation.” Sellers can afford to be picky, and although you should do your due diligence to investigate the home’s value, most homes are being priced fairly and are selling at or above their listed price. If you can, cover your own loan costs and eliminate any costs you may ask a seller to pay, such as a home warranty or HOA transfer fee.
2) Timing. Being flexible with your timing can be enticing to sellers. Before submitting an offer, find out what’s most important to the seller. Would they prefer to close quickly or have a little extra time before they have to move?
3) Risk. Let’s face it, the more assurance that you as a buyer can give to a seller that the sale will actually go through, the better. Strong consideration, or earnest money, for an offer is a great start. Committing to and keeping your deadlines, and few or no variables or contingencies in your offer can help paint a low risk picture for a seller.

Our Take:
If you’re thinking of buying, we wouldn’t be concerned about entering the competitive market. Smart buyers are still getting wonderful homes for fair prices. However, the smartest buyers are writing strong, creative offers, and are pouncing on great homes with outstanding interest rates. Today’s landscape is definitely different and we always recommend partnering with a true expert, to navigate the housing shortage.

Posted on August 26, 2020 at 10:38 pm
Scott Steadman | Category: SunCrest Market Updates | Tagged , , ,

July SunCrest Market Update

The Housing Shortage
Right now, we have a housing shortage. Homes for sale have been in short supply for a while now, but as businesses have adjusted to the pandemic and many workers will be at home for the foreseeable future, there’s been a surge of buyers looking to change their housing situation.

What Does This Mean?
Essentially, more people are competing to buy fewer houses. This imbalance leads to a shortage in housing, which in turn drives up home prices, creates competitive bidding wars, multiple offer scenarios, and means that houses that go up for sale tend to go under contract much faster. For buyers, buckle up, it may get bumpy. It’s not uncommon to see offers above a seller asking price, strategic contract terms, and quick timeframes. It’s likely to be competitive for the foreseeable future until we see more homes come to the market and inventory stabilizes. The good news is, rates have never been better. The average rate for a 30 year loan is now below 3%. Qualified buyers are able to purchase more homes for their money. Upsizing, downsizing, or a change of lifestyle can now mean more favorable financing, too. For sellers, there’s huge upside as more competition means you may get a better offer, if you play your cards right.

Our Take
If you’re thinking of selling or selling, we wouldn’t be concerned about putting your house on the market right now or jumping into these competitive waters. There’s no better time to sell an item than when demand for it is high and supply is limited. Smart buyers who make intelligent moves and creative offers can pounce on great homes with outstanding interest rates. Today’s landscape is definitely different and we always recommend partnering with a true expert, to navigate the housing shortage.

Posted on July 28, 2020 at 4:48 pm
Scott Steadman | Category: SunCrest Market Updates | Tagged , , ,

SunCrest Lifestyle Rebrand

Since we started SunCrest Lifestyle in 2001, we’ve always tried to make it a place for you to find information about our community and the homes in it. It’s changed over the years, and we’ve recently made a few changes. 

First, we completely redesigned our site here at SunCrestLifestyle.Com. We simplified the home page so community news is easier to see, and dedicated a page for our monthly SunCrest Market Update. We kept all the HOA information handy, and have added even better trail information, maps, and videos.

If you’re looking to find a house, we now have a full search feature that is even easier to use. 

Offline, you may notice a new look to our For Sale sign in the yard – that’s still us! Finally, we freshened up the look of our flyers and postcards. We love hearing from all of you about the places you see us.

Thanks for all your support over the years. We’re excited to share our new look with you and look forward to seeing you around the community soon! 

Posted on July 19, 2020 at 9:18 pm
Scott Steadman | Category: SunCrest News | Tagged ,

This Is Us SunCrest Parade

With our city’s celebration and parade cancelled, SunCrest Residents Roger Kraft and Alicia Dahl decided to plan their own just for our neighborhood.

The SunCrest Parade was an amazing event and one that will definitely be remembered! Special thanks to all those who planned, participated, and attended – SunCrest is the greatest!

Posted on July 12, 2020 at 5:39 pm
Scott Steadman | Category: SunCrest Community | Tagged , ,

5 questions to ask when hiring a Realtor


Having a great real estate professional on your team when buying or selling a house can be a huge help, and can save you loads of stress, hassle, headache, and money.

But how do you hire a Realtor? We always recommend interviewing an agent before hiring them, and here are a few sample questions to consider in the interview process.

Posted on June 29, 2020 at 4:14 am
Scott Steadman | Category: SunCrest Community | Tagged , ,

May SunCrest Market Update

Maximizing your outdoor space

People love to come to SunCrest for the clean air, the gorgeous views of the mountains, and to recreate, energize and rejuvenate in nature. When it comes to our homes, adding a functional outdoor exterior patio, deck or entertaining space can become an extension of your home and weave the outdoors and indoors together – a perfect compliment to the SunCrest Lifestyle.

Utah receives about 300 days of sunshine a year. Expanding our living spaces into our yards allows us to create specific areas to make memories, gather with family and friends, or find a quiet respite from our busy lives.

Through the use of adding things like visual screenings in our landscapes, cooking stations, gatherings spaces, placement of comfortable furniture and other design elements, we can improve not only the value of our homes but our quality of life in our SunCrest homes.

Our Take
There’s nothing like a SunCrest sunrise or sunset. Maximizing your outdoor space to compliment one of the many views that SunCrest offers is not only a fun and relaxing way to spend your time living here, but outdoor spaces are common “must haves” on buyers wish lists. Considering an update? We’d love to share our opinion on what’s trending.

Posted on May 18, 2020 at 10:45 pm
Scott Steadman | Category: SunCrest Market Updates | Tagged , ,

SunCrest Market Update – February

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SunCrest Market Update-February

 
Where Did All The Houses Go?
Right now in SunCrest there are only six existing homes for sale. SIX! There’s one home listed under $500,000, one home listed between $500,000 to $600,000, and 4 above $600,000. We discussed some of the reasons why inventory tends to soften in a recent market update
 
What Does This Mean?
Based on the average velocity at which homes go under contract and sell each month, we have less than a 30 day supply of homes. In other words, if no other homes were to be listed, historical trends show that in 30 days there wouldn’t be any existing homes left to buy in SunCrest. Sure, this is only hypothetical—additional homes will almost surely be put up for sale, the homes currently listed could be priced incorrectly and linger past 30 days, or the buyer pool could shrink—but we don’t see any strong indicators that the market will change drastically anytime soon. Long story short? There’s not a lot for sale in SunCrest.
 
Our Take:
Times like this (real estate folks call it an “inventory shortage”) present a unique opportunity for sellers. Listing your home now may lead to multiple offers above asking price, and some buyers who may be eager to accommodate your flexible timelines (think school or new job) or present less stipulations to their purchase.  SunCrest buyers are circling the block. Part of the reason for the inventory shortage is that it’s clearly a great time to buy. Interest rates have dropped to the low 3’s and have kept homes affordable and buying within reach. Whether you’re buying or selling, the market is definitely active but an inventory shortage presents unique opportunities on both sides of the transaction. Working with an experienced team with a goal-specific approach will help achieve the best results. 

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.

Posted on February 13, 2020 at 8:08 am
Scott Steadman | Category: SunCrest Market Updates | Tagged , , ,

4th Quarter Utah Market Report

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4th Quarter Utah Market Report 

Cheers to a happy and healthy 2020. Hope you are off to a great start to your year. As you know here at Windermere we have a team dedicated to analyzing the market and making predictions. The following analysis of select counties of the Utah real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. 
 
Here are 3 things we found interesting from Gardners Q3 Report
 
  • The number of homes for sale in the final quarter of the year was 14.4% lower than in the same period a year ago and 21.3% lower than the third quarter of 2019.
  • The average home price in the region continued to rise in the fourth quarter, with a year-over-year increase of 9.5% to an average of $403,186.
  • Inventory levels remain low, even in the face of modestly increasing market time.

Wondering what this may mean if you’re looking to buy or sell? The market looks different throughout the year so you’ll need a season-specific game plan. Please don’t hesitate to contact us with any questions you may have. 

 
We hope that this information may assist you with making better-informed real estate decisions.
 
Our best, 
Scott and Robyn


 

Posted on February 4, 2020 at 2:16 pm
Scott Steadman | Category: SunCrest Community, SunCrest Development, SunCrest News | Tagged , , ,