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Salt Lake and Provo Real Estate in for a Market Correction

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  • Salt Lake and Provo Real Estate in for a Market Correction

    Those two Markets are on top 10 list for Overpriced real estate.
    "Be a philosopher. A man can compromise to gain a point. It has become apparent that a man can, within limits, follow his inclinations within the arms of the Church if he does so discreetly." - The Walking Drum

    "And here’s what life comes down to—not how many years you live, but how many of those years are filled with bullshit that doesn’t amount to anything to satisfy the requirements of some dickhead you’ll never get the pleasure of punching in the face." – Adam Carolla

  • #2
    We've been in a market correction for a year or two. Question is are we at the bottom. SL Realtors have been trying to convince us things are turning around via "news" stories in the local papers, but I don't think we're there yet. Still a ton of short sales, foreclosures, etc and now that the tax credits have dried up, new construction seems to have stopped again.
    "Remember to double tap"

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    • #3
      All of which makes it a great time to finish my basement. When we bought the house in 2006 the builder quoted us $50K to finish the basement. I got a bid last week for less than $30K so we're going to go for it.

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      • #4
        When starter homes are going for around $120-130k the market will be corrected.

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        • #5
          Originally posted by Shaka View Post
          When starter homes are going for around $120-130k the market will be corrected.
          Right. And when average homes in decent neighborhoods are going for 200k instead of 300k - 400k, the market will be corrected.
          I'm like LeBron James.
          -mpfunk

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          • #6
            Originally posted by smokymountainrain View Post
            Right. And when average homes in decent neighborhoods are going for 200k instead of 300k - 400k, the market will be corrected.
            As the starter homes go the rest of the market will follow. While many are getting back on their feet I think the carnage is far from over.

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            • #7
              You have got to love the picture of Provo -Orem in that slide show especially in light of the other cities pictures.

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