Here is the updated Layton market snapshot report for the most recent quarter. We are starting to distance ourselves from the frozen credit markets we experienced in the fourth quarter of 2008 and after the first of the year. However, the local real estate market is still a bit sluggish. We are now starting to report more significant price point impacts as sellers are forced to adjust their pricing in order to obtain offers. As I mentioned in my fourth quarter report, the impact of elevated inventory levels and the increase in distressed properties (e.g. short sales, foreclosures) is being felt as these properties are now being sold and the price impacts being reported. The trend line continues to be downward and most analysis would indicate this trend will likely continue through at le... 05/04/2009

Private Mortgage Insurance (PMI) - Ending Early Private mortgage insurance, or PMI, is the safety net of the lender. PMI benefits lenders because it guarantees payment on the balance of loans not covered by the sale of foreclosed properties. If a borrower makes a down payment of 20% of the cost of the home, the lender can generally trust that he will make his mortgage payments faithfully to protect a large investment. In this case, the lender comes out ahead if the borrower is forced to foreclose on his house, because the lender loans 80% of the cost of the house, but will probably recover 100% of the cost of the house. But, if the borrower makes a smaller down-payment, such as 3%, 5% or 10%, and borrows the rest, and then defaults on his loan, the lender loses money. If a house is purc... 05/01/2009

Layton is the largest city in Weber County and also had the greatest decline in number of houses sold, 36%.  Yet, sold price did not change much for Layton homes.  Median sold price increased by $15 and average sold price decreased by $5,325.  There are 505 homes in Layton for sale and inventory is just under one year.   04/24/2009

In the Layton area there have been 40 homes sold in the last 30 days.  They have ranged in price from $39.900 to $525,000 with an average of 90 days to get sold.  Homes under $250,000 are moving at a much faster rate of 81 days on the market compared to  homes over $250,000 that are taking an average of 115 days to sell.  At the time of this report there are 505 homes for sale in Layton. A balanced market has about 6 months of inventory for sale.  Right now Layton has about 12.6 months of inventory. Many buyers have expressed a concern about the availability of loans to buy a new home. There is money available. Those who want to buy using FHA will have no problem as long as they have good credit, 3.5% down and closing costs (unless you can get the seller to pay them). Rates are still go... 02/28/2009

Home sales dropped below 1,000 in 2008, down 23.82%. Median and average sold prices also decreased.  Median price went down 4.78% to $203,950 and average price stopped at $226,187, down 2.16%. Houses have been marked up quite a bit so there should be room for some negotiation.  With 496 listed, there are still plenty of homes for sale in Layton. These numbers are not official. 01/22/2009

We need Positive Price Action to confirm market bottom.  One month of price improve isn't sufficient to confirm the market bottom.  We need to see appreciation month over month for three months. PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.  On a year over year, YTD comparison currently (7.97) % of new listings are being sold.         SUMMARY  Currently we are not seeing the needed positive price action (along with other indictors) to confirm a market bottom.  This is NOT a good time for conservative buyers to purchase.  High risk tolerant investors and speculators are doing some bottom fishing. For more details or just to chat about market conditions please feel f... 12/24/2008

In the Layton area there have been 55 homes sold in the last 30 days.  They have ranged in price from $24,900 to $795,000 with an average of 103 days to get sold.  Homes under $250,000 are moving at a much faster rate of 96 days on the market compared to  homes over $250,000 that are taking an average of 132 days to sell.  At the time of this report there are 547 homes for sale in Layton. A balanced market has about 6 months of inventory for sale.  Right now Layton has about 10 months worth of inventory. Many buyers have expressed a concern about the availability of loans to buy a new home. There is money available. Those who want to buy using FHA will have no problem as long as they have good credit and 3% down (3.5% after the first of the year). Rates are still good too. Right now the... 11/03/2008

There are as of 1 October 2008, 516 active homes on the market with another 79 homes under contract for a total of 595.  By calculating what percentage of the total the 79 homes under contract are you know if Layton is a buyers or a sellers market. 79 divided by 595 = 13%.  If the % is under 25 percent then it is a buyers market.  If it's over 25% then it's a sellers market.  So Layton, UT is currently experiencing a buyer's market.  To find out more about market conditions in Utah just give me a call at 801-540-3825 09/30/2008

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That's right. There are more than 500 homes for sale in Layton Utah.  Home listings are increasing, but  home sales are staying pretty stagnant. This makes it harder for owners to sell their homes, and forces them to lower prices to be more competitive. During the first six months of 2008 427 single family homes and condos were sold in Layton. The average price of the homes sold was $229,852. The average price of active Layton home listings is $311,261. The reality of the matter is that if these homes want to sell soon, they'll need to lower their prices or else they'll be on the market for a long long time. 07/15/2008

I like numbers they are soothing undiscriminating...very factual and unemotional. Here are the latest statistics for the Layton Area. I think things are looking great and they are only getting better. Zip Code 84040, 84041 Sales Activity Trend Report Report Date: Monday, April 14, 2008Time Period: March 1, 2008 through April 1, 2008Days on Market1 - 303231 - 601861 - 901091 - 12013121 or Over12Average60Days on Market is calculated by counting the days between the Listing Date and the Contract Date (the date the home goes under contract).Financing TypeCash2Conventional49FHA24Other2Selling Financing1Utah Housing1VA7Our FHA number is growing and our cash is shrinking from last year. We are experiencing realistic pricing and sales.Average Sales Price Ranges from 200,000- 150,000  and the av... 04/14/2008

Layton~Davis County Utah: February 2008 Real Estate Market Report Welcome to the Heart of Utah Real Estate monthly real estate market report for Layton, Utah located in Davis County. As with previous market reports, this report will be broken down into two different sections, one for Single Family Residence's and the second for Condos. Please keep in mind that the real estate market report I have provided is a compilation of a large price range for the entire city of Layton and should not be confused as being the price in which your home will currently sell for. Also please take note: “SOLD” indicates all the properties that sold during the month of February 2008. “Under Contract” are the properties that have gone through negotiations and are currently awaiting their closing date as of ... 03/10/2008

Layton~Davis County: January 2008 Real Estate Market ReportWelcome to the beginning of my 2008 monthly real estate market report for Layton, Utah located in Davis County. This report will be broken down into two different sections, one for Single Family Residence and the second for Condos. Please keep in mind that the real estate market report I have provided is a compilation of a large price range for the entire city of Layton and should not be confused as being the price in which your home will currently sell for. Also please take note: “SOLD” indicates all the properties that sold during the month of January 2008. “Under Contract” are the properties that have gone through negotiations and are currently awaiting their closing date as of the date I pulled this report (2/18/2008). “Acti... 03/04/2008

70 acres of farmland located near in Layton is a proposed spot to put in a residential development.  The purposed development is located south of Antelope Drive at 2000 North and 1450 East.  It is on the backside of Heather Drive.  In the year 2001 the Heather Hills subdivision experienced a landslide that resulted in three homes having to be demolished and relocated.  The slide also caused a million dollars worth of property damage and dropped the land elevation by 9 feet in some areas. Layton city council is meeting to discuss the proposed development.  The rezone has already received the recommendation that the developers should submit a soil/geotechnical report that meets city approval.  I will update this story when more information is available.  04/22/2007

There are currently 121 homes on the market in Layton.  The asking prices range from $109,900.00 to $3,600,000.00. The asking price per square foot ranges from $73.47 to $313.04, with an average asking price of $107.64/square foot. (based on total square footage as reported in the multiple listing service).  During the last 29 days, 79 homes sold in the area with sales prices ranging from $84,900.00 to $675,000.00. The average sales price was $229,872.78 and the average days on market was 75. 04/06/2007