1. Selection, selection, selection. There are about 4,650 resale homes on the market in Utah County. Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 2,050 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lost of options in this market.

2. No Bidding Wars. In 2005 and 2006 we had one client that made an offer on five homes. They lost the first four to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is little competitive bidding in this market.

3. You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 99% for residential properties. A seller will not be insulted if you make them an offer.

4. Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.

5. Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection and appraisal. In 2005 and 2006 many buyers waived these contingencies in order to gain an advantage with multiple offers.

6. There are plenty of specs. In the not too distant past, the buyer had to 'play games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. Builders have thousands of specs ready for immediate occupancy.

7. Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is.' Some homes are still sold 'as is,' but priced accordingly.

8. Few, if any investors. It is estimated that one third of all sales in 2005 and 2006 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. It's a great time to buy without having to compete with hundreds of prospective landlords.

9. Location, location, location. Today's buyers can find homes closer to work. In the past buyers flocked to Payson and Santaquin in order to find affordable homes. In this market, reasonably prices homes are in all areas of Utah County.

10. Real Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back, FHA financing, first time homeowner bond programs, special loans for teachers and police officers are back in business. It's a great time to buy real estate.