Market Information
Market Knowledge
I have been assisting clients with their Utah County investments for over 20 years. Throughout the market's fluctuations, I've observed that Utah County investments are closely tied to income. When rents rise, so do property values. This stability has allowed us to avoid the extreme spikes and drops seen in other areas, with overall growth averaging 3-5% per year.
In the Utah County investment market, while you may not see record appreciation, you will find reliable renters, and long-term property ownership will be advantageous. Duplexes and four-plexes near campus generally offer better cash flow than condos.
However, many multi-unit properties are older homes that may require maintenance, so I always recommend getting an inspection, whether it's professional or personal. For professional inspections, I suggest Pillar to Post.
However, many multi-unit properties are older homes that may require maintenance, so I always recommend an inspection—whether professional or personal.
Market Understanding
Our team of experts possesses a deep understanding of the local real estate market. We stay current with the latest trends and provide valuable insights to help you make informed decisions.
With extensive experience buying and selling homes in Utah County, I believe that investing in and maintaining your property will yield good appreciation
For example, I purchased a duplex in Provo, made improvements such as painting, installing tile in the kitchen, and refinishing the wood floors.
After one year, I sold the property and made a $30,000 profit. Not bad at all.
Appraisals
An appraiser will look at three things to determine the value of a property. Investors should be aware of these elements of value:
- Square footage
- Location
- Condition
- Square footage: Square footage is defined as livable space. Obviously, a home with more livable space is going to be worth more than one with less. A garage is not considered to be livable space.
- Location: When you’re purchasing a home, it’s important to find a location where the homes are in the same economic condition. Generally, its wise to buy a home in the nicest neighborhood you can afford. A smaller home in a neighborhood with bigger nicer homes will generally see better appreciation.
- Condition: Obviously, the condition of a property can affect its value a great deal. The age of a home should be considered and may affect its condition. Another thing to think about is that the condition of a home affects the marketability more than anything else when you decide to sell.