Joshua Stern

Joshua Stern

Joshua Stern

Joshua Stern

Joshua Stern

We’re back with another update on the Wasatch Front real estate market. In the third quarter of 2019, we saw a significant jump in sales. Year to date, we’re up 2.1% with over 37,700 homes sold so far in 2019.The average price for all home types is over $383,000. At the same time last year, our average price was just over $354,000. That’s an 8.2% y…

Most home sellers are also homebuyers. Because of this, the inevitable dilemma of which transaction to complete first comes up. Buying first is ideal because it allows you to take your time and there are much fewer hoops to jump through. Most people can’t afford two mortgages at once, however, so selling first is a reality for many. In either case,…

Home sellers and their agents want their properties to remain show-ready at all times while they’re on the market; but ensuring that this is the case can be a chore—especially if said sellers have already moved out.Whose job is it to pick up the newspaper, shovel the driveway, and keep the grass trimmed?Unfortunately, it usually isn’t feasible for …

What do 2019’s second-quarter statistics say about the Wasatch Front market? Home sales are up 4% compared to last year, with over 13,000 single-family homes, townhomes, and condos being sold. Year to date, sales are down 2.5% with nearly 24,000 total homes being sold. The good news is, the average sale price for all home types has risen to $375,00…

Buying and selling real estate can be complicated and there are a lot of opportunities along the way for transactions to fall apart. Here are the primary reasons that real estate deals fall apart based on our experience:1. Pre-contract deal-killers. The first stage of a transaction occurs before an offer is even made. On the side of the seller, a f…

Today we’re going to discuss six ways to get your home ready for sale this spring:1. Let natural light in. Open up your blinds, windows, and let that natural sunlight in.2. Renovate what’s outdated. If your kitchen or bathroom is stuck in the 1980s, it’s time to freshen it up a bit to get top dollar for your home. Updated faucets, towel racks, and …

A question about the viability of purchasing a starter home in today’s market was recently posed to us, and it boils down to this: Should you invest now in a starter home or would it be more prudent to wait and save for your forever home?Let’s first make sure we’re talking about the same thing—among economists, the prevailing definition of a starte…

It’s always our goal to keep you educated about all things real estate so you can accomplish your buying, selling, and investment goals. Today we’ll be talking about how co-borrowers works in real estate.We’ve seen home values increase by over 30% in the last five years, and combined with recent interest rate hikes, affordability has been affected—…

What’s the latest news from our Wasatch Front market as we move further along into 2019?To answer that question, let’s first compare the statistics from the fourth quarter of 2018 with 2017’s fourth quarter. Home sales dropped 7% from just over 9,600 to 8,994. The average sale price, meanwhile, increased 8% to $350,000. For new construction homes, …

A quick note before we begin today’s topic: We’re not tax professionals here at the Stern Team, so please be sure to meet with a qualified CPA for more details. If you don’t know one, we’re happy to refer one whom we trust completely to you.Every four years, some candidate for higher political office tries to focus our attention on equalizing the t…

There’s a misconception among many sellers out there that any commission they pay to their Realtor will be reduced if they’re able to secure a buyer on their own. At the heart of the real estate transaction, the goal is to obviously find a buyer to sell the property to, but there’s much more that goes into finalizing the process. In the event that …

Home affordability is shrinking rapidly, according to research by Arch Mortgage Insurance. In the first quarter, affordability (defined as the size of the monthly mortgage payment needed to buy a home) dropped by 5%. This was mainly due to the increase in mortgage rates. As a consequence, more people are now stretched and taking on greater debt rel…

For today’s topic, we’re going to discuss the benefits of buying or selling in the winter. Contrary to what you might think, the passing of the summer season doesn’t necessarily equate to stagnation in the market now. There are great tax advantages to buying or selling late in the year. Buyers who close escrow before year’s end will enjoy tax write…

Unfortunately, real estate deals don’t always make it all the way through closing. There are a number of reasons they can fall apart, and today we’d like to share five such reasons:1. The buyer and/or seller encountered pre-contract problems. This includes issues like a lowball offer, an extensive list of repairs, or an appraisal problem.2. The buy…

It can be a scary world out there—though a majority of people are good and honest, some like to try taking advantage of others. The real estate market is no exception, so today we’ll be looking at the scams we want to make sure you’re aware of:1. Mortgage closing scam. This scam has become so prevalent that the FBI estimates it’s led to over $1 bil…

Despite some concern, a market crash isn’t imminent, and there are nine reasons why.1. There are many differences between the market of 2005 and the market of today. In 2005, for example, subprime loans totaled more than $620 billion and comprised about 20% of the mortgage market. In 2015, they totaled only $56 million and comprised just 5% of the …

Today we’re excited to share our third quarter market statistics for the Wasatch Front. These numbers are through October 4 of 2018 and we’ll be comparing them to the numbers that we saw through October 5 of 2017.As for home sales, they’re relatively stable and unchanged from last year. Nearly 28,000 single-family homes, townhomes, and condos have …

Our goal is to keep you educated about all things real estate so that you have the ability to make great decisions when it comes to your own home buying, selling, or investing goals. Today’s topic is why fall is a great time to sell a property.Sometimes it pays to go against the crowd. The real estate market is definitely at a peak during the sprin…

To understand how a home inspection benefits you as a buyer, you need to first understand what a home inspector does and what’s all included in a home inspection. First, although you can choose your own home inspector here in Utah, they aren’t actually required to be licensed in our state, so make sure your Realtor can recommend an inspector who’s …

How do you know if it’s the right time to sell?If this is something you’ve been wondering lately, we’ve got some good news: It’s a great market for sellers right now. Limited inventory continues to drive up home prices, and the latest data from the National Association of Realtors shows that recent listings spent an average of just one month on the…

So you’ve decided to sell your house, and you can’t wait to buy a new place. However, there’s just one thing standing in the way: You’ve got to close the deal on your current home first. You hope it doesn’t take months to get an offer, since you want to sell your home fast and for as much money as you can. If this describes you to an extent, I want…

Did you know that you can use self-directed IRAs to purchase investment property? It’s true. The IRS permits retirement accounts like IRAs to invest in real estate, among other options. There are a lot of advantages to using a self-directed IRA, or a solo 401(k) plan, to buy real estate. The first advantage is tax deferral (or tax-free growth).If y…

I want to talk to you today about the seller’s disclosure. First and foremost, do not be afraid of the seller’s disclosure. State and federal laws are strict in requiring sellers to disclose what they know about the condition of their homes, but this isn’t obvious or discernable to a potential buyer.Buyers are unable to see behind walls or under ho…

What’s the latest news from our Wasatch Front market? Here are the latest year-over-year numbers from our second quarter through June 21. Over 11,000 homes have sold so far, which is nearly a 5% increase compared to the 10,500 that sold during 2017’s second quarter. We also saw a 9% increase in the average sale price. Interest rates rose from 3.91%…

There are 10 home repair and maintenance tips that every Utah homeowner should know, and I’d like to share this list with you today. 1. Change your furnace filter every three months. This will extend the lifespan of your furnace and will also keep it running more efficiently. 2. Fix leaky faucets. Being proactive and fixing leaks expediently is cri…

Sometimes, homebuyers wonder if it’s even worth trying to compete over homes in a hot seller’s market. When there is very little inventory in the market, it isn’t unusual for a single property to receive upwards of 20 offers. And only one buyer can win.Nevertheless, it is almost always a good idea to write an offer anyway. So let’s discuss six tips…

My goal is to keep you educated about all things real estate so that you have the ability to make great decisions when it comes to your own home selling, buying, and investing goals. With that in mind, I want to talk to you today about the first quarter housing statistics for the Wasatch Front.First quarter sales are actually up this year, having i…

Today I want to tell you the truth about interest rates and how they affect home sellers and buyers in the current market.Interest rates have been on the rise over the last couple of months, and we shouldn’t be surprised by this. In fact, most experts have been predicting the increase in mortgage rates for the last two years.First, let’s garner a l…

With each and every home that I’ve purchased, I’ve gone through this period of cold sweats that we in the industry call “homebuyer’s remorse.” It’s very likely that you may experience it too. So what can you do about it?First, create a list of your top 10 wants and needs (five of each) with regards to the home you’re eventually looking to purchase.…

If you plan on selling your home this year, there are a couple things you must do to prepare. Every market is different, but these tips will certainly apply regardless of your area.1. Add a fresh coat of paint. Buyers these days begin their search online, so you want to make sure your home looks as good in person as it does in your virtual listing.…

There are many reasons why 2018 is going to be a great market for real estate investing. Here are the top seven reasons to invest in the Wasatch Front real estate market:1. Strong economic indicators. The 2018 economy looks sunny-side up. For all you novice and expert real estate investors out there, it’s a simple equation. If the economy is growin…

We’re proud to be able to share another great endorsement for The Josh Stern, this time from Tommy and Joe Johnson of the “Johnson & Johnson” morning radio show.Here’s a snippet of what they had to say:“Josh sells a home, on average, almost two months faster than the average agent, and there’s no risk to working with Joshua. He offers a no-hassle c…

Recently, I had the opportunity to act as a guest speaker on the Salt Lake Community College program “Bruin Voices.”Cited below for your convenience are timestamps which will direct you to various subjects I go over in the video above. Feel free to watch my full message or use these timestamps to browse specific topics at your leisure:00:13 - Intro…

I’ve got a report card to share with you today for the Wasatch Front real estate market in 2017. Let’s start with some of the numbers for single-family homes.Single-family home sales were down slightly in 2017. They dropped 3.5% from where they were in 2016 and we saw 28,000 of them. If we go back to the previous height of the market in 2006 when 2…

Check out some footage from the event right here. Don’t forget to visit sternteamutah.com for more upcoming events. May the force be with you!Joshua Stern

Purchasing a home for the first time is no easy task. Today, I’d like to share a list of the six biggest obstacles facing first-time homebuyers:1. Down payment. Unless you’ve won the lottery or are independently wealthy, you’re probably going to need a mortgage. If you happen to be a veteran, you can take advantage of the VA loan. This program allo…

What are 10 helpful tips you can use to sell your condo?First, learn about the process of selling a condo in Salt Lake City. One of the biggest mistakes condo owners make when selling is thinking it’s the same as selling a single-family home, so educate yourself on the condo-selling process so you know what to expect throughout that process. One of…

A home appraisal is a part of every home that is bought with financing. Low appraisals can happen for many reasons, including:-Artificially inflated values because of multiple offers -Incorrect evaluation by the underwriter -An inexperienced appraiser who doesn’t understand influences on value -Market values rising due to limited inventory -Apprais…

Now that we’re about three quarters of the way through the year, it’s time to take a look at the real estate market in the Wasatch Front.In order to best understand what’s really going on in our market, let’s look at a couple of the key market indicators.From January to August of 2017, we sold 15,891 single-family homes along the Wasatch Front. 4,8…

Today I’m joined by a very special guest, Travis from VIP Roofing, to help me discuss roofing inspections and certifications. So, what is a roofing certification? Ultimately, a roofing certification gives you a document verifying the condition of your roof. It will give you an idea of any current issues, as well as things you may be able to do to e…

We’ve got something to share with you today that’s a little different from our regular Stern Team videos. We recently received a glowing endorsement from Doug Wright of The Doug Wright Show. Here’s a snippet of what he had to say:“Good markets, bad markets, they come and go, but good marketing sells homes regardless of what anyone else might say. T…

Today, Mandi Henriod from Veritas Funding is here to explain a great new tool for homebuyers.As you know, the Salt Lake City real estate market and the Wasatch Front market both favor sellers. Properties are going on the market and getting five, 10, 20, or even 33 offers.As a homebuyer, it can be very difficult to compete in that type of market.Luc…

When inventory is tight, competition between buyers significantly increases. In fact, with as few choices as are on the market right now, it isn’t uncommon for us to see 30 or more offers on a single home.This can be extremely frustrating for buyers. Sometimes against that much competition, it can feel like the best thing to do is to simply give up…

In Utah, July is known for many things. One of the lesser-known things is the fact that it’s also the month we get our property tax assessment notices in the mail.I’m not an expert as to how the county calculates property tax values, but I do know one thing: they’re not always on the mark. The assessment is comprised of your proposed tax assessment…

Recently, my team and I received a fantastic endorsement from Gary LeVox, lead singer of the Grammy award-winning country music group, Rascal Flatts. Gary is a respected artist who approaches his craft with the same heart and passion that my team and I have for each real estate transaction. Here is what Gary had to say: “When ‘I’m Moving On’ won th…