Don’t be fooled to think that we are in buyer’s market for Utah real estate. Fact is, February 2012 became the turn-around point when it became a seller’s market. That was the month buyers started to fight for their offers to be accepted by the seller.
Before then, very few buyers would compete for the same house. Allowing the interested buyer to dominate the negotiations for purchases. But something change. More and more buyers came out of the wood work and started to buy. Suddenly, there were 2-3 buyers for the same house causing a bidding war and increased home prices. With the competition from the buyers, the seller now has the upper hand in negotiations.
Several buyers have emerged in 2012. Most are first time home buyers, some just renters for the last couple of years, some are buying just because the rates are so low. But there is…
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