Here as another solid buy in Salt Lake City UTAH. For those of you looking for some rental properties. It will bring roughly $50,000 a year which would put it at a 6.6% cap rate. Which is a solid good return on your money..
Let me know if you are interested.. Spencer
November 2, 2009 brad
Economy Update
Fact #1 Approximately 30% of all U.S. Homes are free and clear and do not have a mortgage.
Fact#2 Of the 70 % of households that do have a mortgagte, 96.7% are not in foreclosure
It seems like every time we turn on the evening news or read a newspaper headline, the bad news deepens our fear and concerns about the economy. With the news media in full throttle, using terms such as “MELTDOWN” and “CRISIS”, it’s easy to understand why you might lack confidence in buying or selling a home.
We have to remind ourselves that the media reports NEGATIVE news, not positive news. Their key objective is to pull in an audience (and advertisers), not to make you feel good about yourself.
They announce the unemployment rate rising, despite the fact that millions of people are still working, making money, eating at restaurants and even buying/selling homes. In Fact, while 3.3$ of homes in the United States are in foreclosure, 96.7% are in good standing.
Instead of internalizing the negativity the headlines can cause, choose to be optimistic and focus on the opportunities around you.
GROSS DOMESTIC PRODUCT RATING
1- United States GDP $14,330,000,000,000 as of end of 2008
2- Japan GDP $4,844,000,000,000 as of the end of 2008
3- China GDP $4,222,000,000,000 as of the end of 2008
So perhaps things are bad, but just maybe? We are not going to fall of the face of the earth just yet?????
Senators agree to extend homebuyer tax credit.
Well everyone should read this article. It is official the tax credit has been extended..
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. The Commerce Department said Wednesday that new home sales fell 3.6 percent in September, and some industry representatives blamed uncertainty about the tax credit.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years. The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes.
City Creek development is bucking the economic trend – Salt Lake Tribune.
It is good news to hear that one of our downtown developments is going strong. I would venture to say this is definitely an anomaly in the market. Majority of the other condo developments throughout the valley are severely struggling. Contrary to what the media reports, it is largely due to the financing aspect of the issue. Their are plenty of potential buyers, especially with pricing coming down to realistic levels. It is more concerning the fact there are now financing products from banks for those potential buyers. Tough market to be in right now considering the financing worlds problems. So to see and hear the City Creek Center in Downtown Salt Lake City is still going strong with good sales. Is a great boost to our local economy.. Good to hear.
November 2, 2009 utahcribs
Utah News
NSA To Build $1.5 Billion Cybersecurity Data Center — Cybersecurity — InformationWeek.
Another news story to put Utah on the Map.. It was announced about a year ago, that they would be doing this project, but now it is officially a go.
I have spoken to a couple of the potential builders for this project it is going to be one incredible building. I have heard, it is going to cost roughly $150 Million to just bring in enough electricity to run the building.
I am going to take it as a complement, that the United States Govt. considers Utah the safest place to put their NSA building here. I mean it will be the main intelligence building for the entire country.. Interest stuff..
I am not totally sure on this, but I heard also that they need to displace all of the air in the entire building every 10 seconds. Meaning there will be a wind tunnel about 40 mph in strength throughout the building at all times.. Must be some powerful computers they need to keep cool?
