Simple Rate Homes

06/20/2024

Rental is live!

This 4 bedroom, 4.00 bathroom, 3337 square foot home is located at 1096 W 25 N Clearfield UT 84015. The home was built in 1983 and is listed for sale at $589,000

06/02/2024

Congrats to my seller. Multiple offers. 16k over asking. A flip well done.

06/02/2024

Farmington basement rental also coming soon.

06/02/2024

Selling my Clearfield rental. Coming to market soon. Reach out if you know anyone looking to buy.

06/02/2024

What happens when you can't find a good 72" single basin vanity?! You build your own.

06/02/2024

Helped my client find this off market steal of a deal. It's a pretty one. Does life get better than a carpeted bathroom?

06/02/2024

She gone. LilyPad Lane is coming...

04/19/2024

The next project. 1 to 3 this home will be.

04/13/2024

Here are the top markets for apartment demand over the last 12 months. Key takeaway: These are big numbers, BUT not enough to keep pace with the tidal wave of supply. And -- contrary to popular narrative -- the supply/demand gap is not just a Sun Belt thing. Apartment supply exceeds demand in most parts of the country.

But, of course, Texas is also building a lot of new apartments -- especially in Austin -- so supply exceeded demand, and rents fell in all of the major Texas metros. Texas (like other Sun Belt markets) had consistently seen demand top previous supply peaks from 2010 through 2021, which in turn kept vacancy low and rent growth elevated. But this time is clearly different amidst a generational supply surge that'll stretch into early 2025 before falling off.

It was a similar story across other big-demand-but-bigger-supply Sun Belt and Mountain markets like Phoenix, Atlanta, Charlotte, Nashville, Raleigh, Denver, Orlando and Salt Lake City.

What is perhaps more interesting is that the supply > demand story wasn't limited to the Sun Belt -- although the gap is narrower in most other parts of the country. That list included Washington DC, Minneapolis, Northern New Jersey and Philadelphia. All four also saw multi-decade peaks in supply, which helped unleash some pent-up demand. But the smaller supply/demand gap translated to smaller vacancy bumps and allowed for continued modest rent growth.
Nationally, look for supply to remain above demand through 2024 and into early 2025. There's a lot of demand out there, and the funnel is widening as wages continue to outpace rents and consumer confidence rebounds. But supply is also peaking this year at 40-year highs, and it'd take post-COVID 2021 boom demand numbers to keep pace.

But don't call it "oversupply" because this is likely a temporary phenomenon -- not a long-term one. We knows permits and starts are plunging, and that should allow demand to catch up by 2026 or so.

03/21/2024

The Fed kept rates unchanged, as expected on Wednesday. In even bigger news, the median projection for rate cuts this year also went unchanged. Policymakers released their March Dot Plot as well, and still see three cuts this year, but more members are now anticipating fewer than that.
Fed officials have emphasized that this is not a predetermined plan, and that the individual forecasts are subject to change as new information becomes available. During the post-meeting conference, Powell echoed similar comments he and his fellow members have made over the past couple of months – officials want to see more evidence that inflation is coming down toward the target of 2% before starting rate cuts.

02/26/2024

Another unique home in our SLC adventure today.

02/26/2024

Who knew Utah had a pyramid. . SLC adventures were good today.