A New Solar Roof Will Be Cheaper Than You Think

Up until now, solar roofs have been expensive and complex. Now, they are coming to market on a massive scale thanks to Elon Musk. 

Looking to buy in the Salt Lake City Area? Get a full Home Search

Looking to sell in the Salt Lake City Area? Get a free Home Equity Report

As some of you may know, I have a real affinity for Elon Musk and the ingenuity he brings to the table. From space travel to automaking to energy management, he’s doing a lot of great things to improve our world.

The latest and greatest comes with the bringing of his Tesla solar roof to market, and there’s some new information about it that we are very, very excited to share with you.

Recently, Tesla merged with SolarCity, another one of Musk’s companies that manufactures solar panels. With the merger, it is predicted that the cost of installing this solar roof will be less than installing a traditional roof. That is amazing! If you need a roof replacement, how great would it be to save a little money and get a solar roof?

These roofs will be cheaper to install than traditional ones.

On top of that, the roof will eventually pay for itself in energy savings alone. There will be four different shingle options when this product comes to market: textured glass, smooth glass, French slate, and Tuscan tile. They will be manufactured in the U.S. as well! We will be sure to keep you updated on who will be installing these in our area and when. 

If you have any questions about this solar roof technology or any other questions about Utah real estate, give me a call or send me an email. I look forward to hearing from you.

What Can You Expect From Our Market for the Rest of 2017?

Last year was a fantastic year for our market, and 2017 should stay strong. However, there are also a few challenges for buyers and sellers to overcome.

Looking to buy in the Salt Lake City Area? Get a full Home Search

Looking to sell in the Salt Lake City Area? Get a free Home Equity Report

How did our Wasatch Front market do in 2016? What should the rest of 2017 look like?

Last year, there were 13,600 single-family home sales, which was a 1.3% increase from the year before. There were 4,300 condo/townhome/twin home sales, which was a 12% increase. The median sales price for single-family homes increased 8.1% to $295,000, while the median sales price for condos, townhomes, and twin homes increased 7% to $203,000. The median days on market was only 13 days—less than two weeks!

In 2016, we had the highest number of sales in the last 10 years. This has led a lot of people to wonder if we’re on the verge of another bubble. You can rest easy, though. There are no indications another recession is imminent because all the factors that caused the last one aren’t there now.

For the first time in 40 years, demand has exceeded supply.

However, for the first time in 40 years in our market, demand for housing has exceeded the supply. This has presented a list of challenges, such as affordability for housing, a shortage of well-qualified trades for builders, zoning and municipality changes and fees, land cost, rising rents, sustainable housing, and basic supply and demand.

You’ll likely hear about these things on the local news now and again, and us Realtors are working hard to solve them and work with politicians to protect your personal property rights.

All in all, 2017 will be a really strong year for home sales and home values. Interest rates should rise a little bit, but that shouldn’t affect the overall market.

Whether you’re a buyer or a seller, if you’re on the fence about entering the market, I’d love to sit down and review the details of your situation with you. I look forward to hearing from you!