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Updated 05.09.2008
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What A Wonderful Time To Buy!
Forbes.com rates Salt Lake City the #1 best city For Bargain House-Hunters.

February 7th, 2008 - Of the major metros in the U.S., Salt Lake City is adding jobs faster than anywhere. The economic boom in SLC has drawn residents from all over the country, and more than a few home builders trying to make a profit in these otherwise woeful times. Housing supply has gone up quickly, and there hasn't been a high rate of foreclosure.

Property sharks looking to take advantage of local housing slumps are doing their best to time the market, searching for the precise moment when prices bottom out before taking a bite.

They'd be smart to look for markets where job growth is strong, foreclosures are relatively low and inventory is high. With these factors in place, buyers can still dictate terms of sale and negotiate prices, but aren't as exposed to the economic and lending risk problems that have sunk many markets around the country.

Good places to look? Salt Lake City and Raleigh, N.C., where there are plenty of sellers slashing prices, but not because of a lending meltdown.

Timing a market is tricky business, and prices alone may not be the best way to determine a bargain opportunity.

What you need is a buyers' market, where there is healthy job growth and more houses available than people to buy them. This is not due to foreclosures and economic downturn, but to overbuilding that should balance out in time.

These markets "are where you have high inventories but pliable borrowers, with lenders willing to deal," says Anthony Sanders, a professor of finance at Arizona State University.

>> Read More @ Forbes.com
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