Are Homebuyers like Nuts ?
Driving through South Jordan, Riverton, and Herriman (actually anywhere in the Salt Lake Valley) this month I noticed a lot of builders are offering lots for sale. That means something to me.
Remember the old saw that said " I can tell it's going to be a long hard winter by the huge number of nuts the squirrels are stashing away"?
It's sort of like that, only backwards, I can tell you "it's going to be a long hard winter for Builders because they have so many of their lots for sale" (getting rid of their nuts)
Individual Lot sales have always been a bell-weather of the health of the housing Industry.
When the housing market is good, builders buy up all the inventory they can borrow money on, and will only sell a lot if they can build the home. When the market is down, builders scramble to reduce inventory to raise cash to either service the interest on debt, or fulfill release requirements with the bank or in some cases the previous landowner.
Remember three or four years ago, it was almost impossible to buy a reasonably priced lot. Today, I bet you can have your pick. Cause it's going to be a long hard winter. Builders need to turn that land into cash. Some because they want to, some because they need to. We can help you find out who's who.
If you have ever thought of building your own home, now is the time to capture a building lot. We can help, call us at 801-567 or to see what other Real Estate services we provide visit our website @ Utah Homes and check us out.
Good Luck