What Happens If Your Appraisal Falls Short?
July 20, 2022
With recent home sale prices trending upwards, many sellers want to maximize the profit of selling their property.
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There are many moving parts when you’re buying and selling real estate. In addition to understanding how local property values affect home values, it’s also essential to know how location factors into a home’s resale value. Knowing a little more about the community where your property is located makes selling your house much more manageable.
Knowing the amenities and property values is also crucial to ensure you’re making a wise investment if you’re looking to purchase.
Utah has a very competitive housing market. It offers an array of climates and backdrops that will appeal to nearly any buyer. The state provides easy access to various outdoor activities, entertainment, fine dining, and Broadway-caliber plays. This unassuming state ranked number 3 on U.S. News’s list of Best States to live in 2022.
Morgan County, Utah, sits in northeast Utah. There are about 9,500 residents in the county. Morgan has the most significant percentage of private landowners in the state. Mountains surround the county. Morgan is the smallest county by total area in the state.
The county is a central agricultural hub since 15 major streams empty into Weber Canyon. The influx of water keeps the land well-watered and suitable for farming.
Thanks to the surrounding mountains, Morgan County gets an average of 73 inches of snow each year. The county doesn’t get much precipitation in the form of rain, with just 21 inches of rain per year. Summer highs hover around 88 degrees Fahrenheit. Winter lows average at 12 degrees Fahrenheit.
The average sale price in Morgan County, Utah, is $646 410, and the average home is on the market for 46 days. In 2020, the average sale price for a home in Morgan County was $684,239, and the average house was on the market for 32 days.
Though small, the cost of housing in Morgan County has nearly doubled since 2017. The average sale price for a house in Morgan County in 2017 was $379 950, and homes were on the market for an average of 98 days.
The housing market is slowing down, some in Morgan County, but is still active compared to pre-2019.
More homes sold between May and August in Morgan County than most other months. The agricultural nature of the valley and weather patterns could drive sales patterns in the area. The lowest sales months are November through February.
While Morgan County is a small and predominately agricultural local, there are things for everyone to enjoy in and around the area.
Outdoor Activities (Skiing, Hiking, etc.)
Museums, Zoos, and Parks
Sports
Shopping
Entertainment
Government and Historical Sites
Hospitals in Morgan County
Hospitals in or close to Morgan County include:
With recent home sale prices trending upwards, many sellers want to maximize the profit of selling their property.
The state capital, Austin, is home to the University of Texas campus. In addition to being one of the largest cities in the state, Austin ranks in the top 11 largest cities in the United States.
Understanding the neighborhood where you’ll buy or sell a property is critical. The real estate industry has a well-known phrase: location, location, location
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