I just recently closed on a home for some clients moving into the area. What is interesting about this transaction is how it's an example of home prices moving to an equilibrium point for buyers and sellers.
This home was for sale by owners who lived in the home. In May of this year they listed it for $539,000. After two months, the listing was expired and the home was relisted for $459,900. Our initial offer on the home was $420,000 and we ultimately came to an agreement with the seller's at $440,000. That is quite a dramatic drop in price from the seller's perspective.
It took some hard work to bring this transaction together; but, in the end our buyer was satisfied and they now have a great property in a great part of Utah. Welcome to Ogden Valley!
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