A Salt Lake City home worth $1.6 million was recently vandalized, with the words “$600k — $1.6 in one year?!?! Go away greedy flippers!” spray-painted in large pink letters on the side of the house, according to a broker’s viral TikTok video.
Business Insider reports that, according to public records, the house was listed and sold online for $675,000 in September 2021. In May, after the property was renovated, it sold for $1.6 million.
Viral video: Becca Summer, a Utah real estate broker, uploaded the video to TikTok last month, gaining over 2.5 million views.
- She followed up with a video showing the before and after images of the renovations. The home had been significantly updated and renovated.
- Insider states that a police report for the vandalism has been filed and that the “investigation remains ongoing.”
- “Y’all have no idea how bad the market is,” a commenter on TikTok said. “Regular ... people can’t get houses and then THIS happens. Housing isn’t affordable anymore.”
- However, another commenter added, “The neighbors are always mad until it’s their turn to sell.”
Salt Lake City housing market: Katie McKellar for the Deseret News reported that Salt Lake City was among the top five metro areas in the United States for the biggest increases in median sales price.
- As of March, median house prices had increased to $516,759. That’s 26% higher than the median price of $410,00 in February 2021.
- In some areas of Salt Lake County, the median price of a single family home was as high as $630,000 in April, Deseret News states.
What does the future hold? McKellar reports that experts think it would “likely take an economic sea change — sweeping layoffs, foreclosures and a dismal job market — to drastically disrupt Utah’s housing price trajectory and send statewide prices spiraling downward.”