How things have changed in the Orem Utah market over the past few months. Currently we have 367 homes in Orem Utah are for sale and 115 are Under Contract. This means approximately one third of the homes in Orem are Under Contract. The market is hot in Orem!
Orem tends to have less homes for sale per capita than it’s surrounding cities. Orem has less developable land and therefore has less new construction. For example Spanish Fork has a population of around 39,000 and Orem has a population of around 100,000. However, Spanish Fork has 399 homes for sale compared to the 367 homes for sale in Orem. A buyer will pay approximately 10-20% more to purchase a similar home in Orem compared to Spanish Fork.
The market is healthier than it has been in the past five years since the economic depression started. Our area has really gone through some rough times with a ton of bank foreclosures and short sales in Orem Utah. However, the Spring is here and things are changing. Interest rates are low and hovering around 4%.
The number of homes for sale in Utah County has dropped from around 4,000 homes for sale this time last year to 2,798 home for sale today. The inventory is declining and the percentage of sales is rising. Many sellers are Selling Orem Utah Homes.
If you are buying or Selling Orem Utah Homes contact Team Teasdale Realty. The inventory of homes for sale in Orem is changing daily. If you would like to be put on a hot list of home let us know. Our system will email everyday with new homes for sale in Orem. Call us and let’s get started!
Buyer’s agents, just like listing agents, need to be compensated for their work, time, and effort that is spent with a client in Orem, Utah. This is the main reason why there is a need for a formal buyer’s broker agreement to be signed between the buyer and the buyer’s agent before they start to work with each other. Hire a Realtor that is familiar with selling Orem Utah homes. Some buyer’s in Orem may dislike the idea of signing a buyer’s broker agreement but since these agreements are usually bilateral in nature, there is really not much to worry about. Just as long as you meet with the broker first and you fully understand details of the buyer’s broker agreement then you will be fine. If you are not comfortable signing a buyers agency agreement let your Realtor know before you start visiting homes in Orem. It is frustrating for a Realtor when a buyer will not agree to hire them after they show them homes. Remember a Realtor works on commission not a salary.
A referral is usually the best way to find a buyer’s agent in Orem, UT. A referral very reliable and it is based on the actual experience of the referrer with the buyer’s agent being referred. However, those who are new to an area or who are looking to relocate to Orem, Utah may not know anybody there who could refer them to a good buyer’s agent. Thus they are left to find a buyer’s agent using other means. Fortunately, there are a lot of other ways to find a buyer’s agent that is reliable and will work with the client’s best interests in mind. Paul Teasdale of Team Teasdale has been selling homes in Orem since 1995 and he would be happy to represent you in finding a home.
Just like in many other cases, the internet comes to the rescue when it comes to finding buyer’s agents in Orem Utah. The best way to find a buyer’s agent online would be to use web sites that specialize in real estate. These sites usually contain a list of Realtors and buyer’s agents with their complete profile information and with feedback from previous clients in Orem. In the absence of a referral from a friend or family member, reading feedback about a buyer’s agent is the next best thing. Always get to know and interview the buyer’s agent first before signing any kind of agreement. It is good to read online reviews about an agent prior to hiring him or her. You may want to look at Zillow reviews. This is a great source for reviews. Choose a Realtor that is familiar with selling Orem Utah homes.
Open houses in Orem are great for finding buyer’s agents because you can immediately talk to the agent there and interact with him. You can also immediately see for yourself how the agent works and how effective he is. Of course, the main draw back here is that it would take a lot of time and effort to go around Orem, Utah and look at open houses. If, after browsing the internet and going to open houses, you find an agent in Orem, Utah who you think will be a good match, you can start to talk about the buyer’s broker agreement.
ABR Designation: For Real Estate Buyer Agents. The Accredited Buyer’s Representative (ABR) designation is designed for real estate buyer agents who focus on working directly with buyer-clients. You may want to search for a Realtor that has received their ABR Designation. Paul Teasdale of Team Teasdale Realty is an Accredited Buyer’s Representative. If you are looking for a buyers’ agent and still don’t know where to start, you can make the first step by calling Team Teasdale Realty. Paul Teasdale has been at the real estate industry in Orem, Utah since 1995.
