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  • ๐Ÿก Centerville vs. Woods Cross + the 2.9% rate trap

๐Ÿก Centerville vs. Woods Cross + the 2.9% rate trap

Real Estate Issue #38 - What todayโ€™s market snapshot says about moving when you feel stuck

Happy Saturday Everyone!
Welcome to this weekโ€™s Home SWEET BUZZ!

If you've been wondering whether now is the right time to move, you're not alone. This week we compare Centerville and Woods Cross market trends, answer a great reader question about giving up a 2.9% interest rate, and share a timely message from Todd Porter.

Use the links to jump to your favorite section.
If the links donโ€™t work, Click ๐Ÿ‘‰ read online.

In this Issue . . .

๐Ÿคฃ Real Estate LOL 

๐Ÿ“Š Local Market Snapshot: Centerville vs. Woods Cross: Two Neighbors, Two Very Different Markets

๐Ÿ’ฌ Ask a Realtor -  Rob from North Salt Lake asked:"We locked a 2.9% rate back in 2021, and we've completely outgrown this house. My brother-in-law keeps telling me I'd be crazy to give up that rate. Are we just stuck until rates come back down?"

๐ŸŽฅ New Video Message from our Sponsor - Todd Porter: "Stop Waiting For Rates To Drop"

๐Ÿ“ฃ ๐Ÿ The Bountiful Buzz VIP PASS is LIVE โ€” and itโ€™s totally FREE!

๐Ÿ’› Readers Poll - What interests you most when it comes to Real Estate?

For a better reading experience
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Brought to byTodd Porter, SURE Synergy United Real Estate Group

๐Ÿ  Centerville vs. Woods Cross: Two Neighbors, Two Very Different Markets

If you live in Centerville and think the housing market is still red hot, you may want to take a closer look.

Just three miles south, in Woods Cross, the market is telling a completely different story.

And that's exactly why broad headlines about "the market" can be misleading.

๐Ÿ“Š Centerville: More Competition, Fewer Buyers

Back in January, Centerville had 34 homes for sale.

Today, that number has climbed to 54 โ€” nearly 60% more competition for sellers.

At the same time, homes going under contract have slowed. Earlier this spring, roughly 20 homes were moving into contract. Today, that number is closer to 7.

Days on market have also increased, moving from the mid-50s into the mid-70s.

The result? Centerville is approaching five months of housing supply, which gives buyers more options and more negotiating power.

๐Ÿ“Š Woods Cross: A Different Story

Now look at Woods Cross.

Inventory has actually shrunk, dropping from 28 homes in January to 22 today.

Meanwhile, about 17 homes are currently under contract โ€” nearly matching the entire active inventory.

Days on market have improved dramatically, falling from over 100 days last winter to around 62 today.

With roughly 2.5 months of supply, Woods Cross continues to behave much more like a seller's market.

๐Ÿ’ก Why This Matters

Two neighboring cities.

Same week.

Same interest rates.

Completely different market conditions.

That's why pricing a home based on what a neighbor sold for a year agoโ€”or what you saw happen in another cityโ€”can be dangerous.

A strategy that works in Woods Cross may not work in Centerville.

And when a home sits too long, sellers often find themselves chasing the market with price reductions that slowly chip away at the equity they've spent years building.

๐ŸŽฏ The Bottom Line

The most important question isn't:

"How's the market?"

It's:

"Which market am I standing in?"

Because right now, Davis County isn't one market. It's a collection of micro-markets, each moving at its own pace.

That's why Todd Porter ("Utah Todd") and Tammy Swain use their EPIC Home Value System to help homeowners understand what buyers are actually paying in their specific neighborhoodโ€”not what Zillow says, not what happened last year, and not what happened across town.

The right strategy starts with the right data.

๐Ÿ“ฒ Text 801-755-1882 for a no-pressure equity check and market review while we still have time.

If for any reason, property tax concerns, estate planning, wealth evaluation, you are wondering what the present value of your home; scan this QR code or go to https://sureut.com/epicreport and we will promptly provide you with our detailed professionally engineered EPIC Report:

๐Ÿ’ฌ Real Estate Q & A

Rob from North Salt Lake asked: "We locked a 2.9% rate back in 2021, and we've completely outgrown this house. My brother-in-law keeps telling me I'd be crazy to give up that rate. Are we just stuck until rates come back down?"

Todd's Answer:

Rob, you're not stuck.

You're wearing what a lot of people call golden handcuffs, and you're definitely not alone. Thousands of Utah homeowners are hanging onto those 2โ€“3% pandemic-era rates because they feel too good to let go.

And I get it. That rate saves you money every month.

But here's the question I'd ask right back:

What is that low rate costing you?

If your family has outgrown the house, that great interest rate may be keeping you parked in a home that no longer fits your life while you wait for a number that may never come back.

Most forecasts expect mortgage rates to hover around 6% this year, with a possibility of dipping into the high-5% range. A return to the 3% rates we saw during the pandemic is considered highly unlikely.

That's why many move-up buyers are following a simple strategy:

๐Ÿ‘‰ Marry the house. Date the rate.

They buy the home that fits their family now and refinance later if rates improve.

There's another piece many people overlook. In today's market, larger move-up homes have often softened in price more than starter homes have. In some cases, that means the gap between what you're selling and what you're buying may be smaller than you think.

And unlike the frenzy years, buyers today often have room to negotiate seller-paid closing costs or even temporary rate buy-downs.

The bottom line?

Before you let a 2.9% interest rate make the decision for you, let's run the numbers.

Those golden handcuffs may be a lot looser than your brother-in-law thinks.

๐Ÿ“ฒ Text 801-755-1882 for a no-pressure equity and move-up analysis while we still have time.

Got a Real Estate question?
๐Ÿ‘‰ Submit a question for next weekโ€™s edition 
Call me at 801-755-1882, and letโ€™s build your
custom plan to win in this market.

"Stop Waiting For Rates To Drop"

๐Ÿ‘‡ Click pic below to hear Toddโ€™s Message!
(Message changes each week!)
โฌ‡๏ธ โฌ‡๏ธ โฌ‡๏ธ

๐Ÿ“ฑCall/Text: 801-755-1882
๐Ÿ“ง Email: [email protected]

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Thanks for buzzing with us in this weekโ€™s Home Sweet Buzz!

Have an AMAZING weekend!

โ€” Brenda ๐Ÿ

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