The Ups and Downs of a Hot Market

Apr 22, 2016 | Market Reports

It’s officially here: real estate season. Real estate signs are popping up everywhere, and in the Yalecrest area, so are the sold signs. The Yalecrest neighborhood, like the rest of Salt Lake, is seeing a hot, fast-moving market this year. Homes are selling for a premium, and the market is sustaining this increase in price.

When things move as fast as they’re moving these days, the buying and selling process can really test the resiliency of buyer, seller and agent. Something I’m learning of late is that every real estate transaction has its hitch; and when things are moving fast and hot, you really need to be prepared for anything.  To parody Tolstoy, “All smooth real estate transactions are alike; each rough real estate transaction is rough in its own way.” Starting a real estate journey is often like starting a paddle boat ride on a calm lake only to find that it ends with a harrowing 200 foot drop through the rapids. It’s crazy how quickly things go from smooth sailing, to hold onto your hats!

Managing expectations is a big part of my job as we ride the proverbial roller coaster of buying or selling a home. I research the history of a property, employ attorneys and title companies, and work with other real estate professionals to ensure that my client is always prepared. Taking this roller coaster analogy a bit further, I see myself as the safe guard in this wild up and down real estate ride. I’ve inspected the coaster, tightened your seat belt, and secured your safety harness; all so you can experience the thrill of the ride knowing you are protected. Plus, I’ll never put you on a ride that doesn’t suit your tastes exactly.

Regardless of which ride you choose to take, I will have succeeded if you step off the ride and feel it was worth it. Because whether or not the market is red hot or slow as a snail, the end result should always be you loving where you live.