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Know your local market:

Provo, Utah

Understanding the neighborhood where you’ll buy or sell a property is critical. There’s a well-known phrase in the real estate industry: location, location, location. When you’re buying or selling a property, the one thing that can’t be changed is the location. You’ll want to choose wisely. If you’re selling your property, highlighting the benefits of your neighborhood is a great way to attract buyers. If you’re purchasing a house, taking a closer look at the community will help you understand the market and investment potential more clearly. 

Need to sell your home fast? Get an offer from Brick, fast! 

Whether you’re moving on a deadline or you just want to speed up the sales process so you can move on faster, we can help. We offer:

Fast, fair offers: The average home sits on the market between 25 and 30 days. Once your home is under contract, it can take up to 45 days to close. At Brick, we’ll make a fair, cash offer within days. 

No closing costs: Selling a home can cost several thousand dollars when you factor in realtor fees, closing costs, and repairs. You won’t have any of those expenses when you sell to Brick. 

No walkthroughs: Don’t worry about scheduling open houses or walkthroughs. We purchase homes as-is. We can buy properties site unseen. We also buy properties in any condition. 

Close in days: Instead of waiting a month or more to finalize your sale and move on, sell to Brick. Once you accept the cash offer, we can close the deal within days. 

Housing Market Trends in Provo, Utah

The housing market in Provo is highly competitive in 2021. Home prices are averaging 31% higher than the same time last year. At publication, the average sales price of a house in Provo, Utah, is $420,000. 

Houses are also on the market for less time. Last year, the average home took 26 days to sell. In 2021, homes are staying on the market for only 12 days. There was also a 19.8% increase in the number of homes sold in 2021.

In addition to higher prices, many homes in the area are selling with waived contingencies, and more homes receive multiple offers. On average, homes are selling 3% above the asking price. 

At the same time, in 2016, the average sales price for a home in Provo was $232,000. The average home price in Provo has increased by nearly 45% since 2016. 

If you plan to buy or sell a home in Provo, summer will offer a larger inventory, as many families are looking to move between school years. If you’re looking to sell or buy with little competition, try the winter months, as fewer homes are on the market. 

Tips for selling your home fast

Significant life changes don’t always come at the most convenient times. Selling your home quickly may be a desire, or it might be a necessity. Whether you’ve decided to start a new life across the country on a tight deadline or you’re just ready to ditch your investment properties, managing your sale the right way is essential. Check out these helpful articles for navigating the quick sale of your house: 

Key Tips for Selling Your Home:

Selling your home(s) can be difficult, but it doesn’t have to feel overwhelming. Taking a few minutes to prepare yourself for the sales process can make a world of difference when it comes time to part with your house. Here are a few things to consider:

Why are you selling?

Before you list your house or contact us for a cash offer, it helps to know why you’re selling your home. Identifying your why helps with the sales process, including setting expectations for a sales price. It can also help you emotionally process the transaction so that you’re able to let go of your property. 

Sellers offloading an inherited property, downsizing, going through retirement, or selling because of a divorce, should consider whether their emotional attachment could make the sales process more difficult. We’ve noticed that buyers who are overly passionate about the sale are more likely to:

  • Ignore staging advice
  • Overprice the home
  • Respond irrationally to lower offers or requests for repairs
  • Fail to market to their target audience

If you’re selling because you’re liquidating your investment properties, you may need to consciously withdraw the idea of control over what happens to the property once you sell. 

What are your selling needs?

Once you’ve identified why you’re selling and identified ways to emotionally detach from the sales process, it’s time to think about your needs during the sales process.  Which of these are concerns you have about your upcoming move?

  • Cost of relocation
  • Access to equity in your property
  • Ability to provide seller financing
  • Time to pack and move
  • Cost of realtor fees and closing costs
  • Cost of repairs
  • Finding a buyer to purchase the property as-is
  • Desire or ability to manage walkthroughs and appraisals

Many sellers spend as much as 10% of their sales price on repairs, fees, and closing costs. Are you comfortable, or able, to let go of that money to sell your home on the traditional market? If your home needs extensive repairs, you may need to pay for repairs or make concessions on the sale price. If you’d rather avoid appraisals and negotiating with buyers, selling your home for cash could be a better option. 

Prepare for signing and closing

One of the most anticipated parts of selling a house is signing and closing. This final step makes everything official. The process can be a little different depending on if you sell your home through the traditional market or with an ibuyer. 

If you sell your home on the traditional market, the sale can fall through at any point before closing. Complications with appraisal or funding could delay a sale. In worst-case scenarios, a deal could entirely fall through if a buyer isn’t approved for financing or if the lender refuses to fund the loan because the property appraises for less than the offered amount. 

During closing, you’ll meet with the lender and the buyers and sign paperwork to finalize the sale. Before the final paperwork, your property undergoes an appraisal and inspection. The agent will do a title search, and you’ll complete any repairs or other concessions. Once the closing paperwork is filed and the title is transferred into the seller’s name, the home is no longer yours.

When you work with an ibuyer, the closing process is a little different. The process is much faster because there are fewer hoops to jump through. We offer more flexibility for sellers, including the ability to control when you move out. We don’t require inspections or appraisals, and you won’t have to worry about our financing falling through. We can help you sell your home in a matter of days instead of weeks

What does Provo have to Offer?

Provo is located about 45 minutes south of Salt Lake City. Home to Brigham Young University, Provo has a population of around 116,403. It’s the third-largest city in the state. Provo boasts a lot of unique activities for people with varying interests. Some popular attractions include:

  • Bridal Veil Falls
  • Provo Canyon
  • Monte L. Bean Life Science Museum
  • BYU Museum of Paleontology
  • The Soap Factory
  • Covey Center for the Arts
  • Provo Beach (water park)
  • Provo River Parkway Trail
  • Seven Peaks Resort Water Park
  • Utah Lake State Park

 

Outdoor enthusiasts can take a hike up Provo Canyon, and Bridal Veil Falls offer a family-friendly trail that leads to stunning waterfall views. Nearby Mount Timpanogas offers more extended, challenging trips. You can even take a walk through the Timpanogas Cave Trail. It’s located in nearby American Fork Canyon. The hike is a steep 1.5-mile climb and requires the use of a tour guide. 

Culture and entertainment abound in Provo. Residents can easily access the BYU Museum of Art or head over to the Crandall Historical Printing Museum. Shopping is available in the nearby University Mall or Provo Town Centre. 

Major attractions like the Living Planet Aquarium and Thanksgiving Point are just 30 minutes North on I-15. A quick 40-minute drive will take you to Midway, Utah, home to stunning ice castles in the winter. 

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Further Reading

Three Ways to Avoid Agent Fees When You Sell

While 2.5% may not sound like a lot, if the buyer asks you to cover their portion of the agent fees, you could be out 5% of the sale price. If you sell your home for $450,000, that’s a $22,500 fee.

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