Utah's housing market: Good time for buyers, but for how long?

MURRAY (Deseret News) — After walking a pair of reporters through the World War II-era brick cottage, Bill Heiner is questioned about whether the home's $209,900 price point might still be too high given the renovations and upgrades the property requires.

The affable 30-year real estate veteran says he doesn't think so and that the current price tag, down almost 10 percent from the initial listing, is close to the sweet spot for this fixer-upper that literally stands a stone's toss away from Fashion Place mall. Confirmation, he said, could come soon in an offer he's awaiting on the home, which is part of an estate being liquidated by family members.

In the decade before this Murray home was constructed, Winston Churchill described pre-World War II Russia as a "riddle, wrapped in a mystery, inside an enigma." If only the Utah housing market circa 2010 were so easy to characterize.

Wary buyers and weary sellers appear the fidgety youngster, who after riding too long in the family car on vacation impetuously asks, "Are we there yet?" Might the tortuous ride down from the bubble years of 2006-07 finally be over?

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