For those of you who want to be in an amazing area at an affordable price, this house is for you. Total it is about 2,800 sq feet which is big for the neighborhood and it also has a mother in law with a separate entrance and complete kitchen. There are 5 bedrooms and 3 bathrooms in this house that is situated on .20 acres fully fenced. Many new ugrades including paint, carpet, roof, etc. Home is close to freeways, shopping, and parks. Don’t miss out.
We need to sell this asap as the owners are relocating to another state! Address is 7292 S. 1540 E. in Cottonwood Heights.
This is a great article written by a good friend of mine Josh Mettle. He is one of the top producing Loan offiers in Salt Lake.. Great info..
Existing Home Sales dropped in May for the first time in 3 months but still managed to post its second-highest since November 2009, buoyed by the expiring federal tax credit program.
An “existing home” is a home that cannot be considered new construction; a resale of an existing home. Existing Home Sales fell 2.2 percent in May.
The press is calling the drop in sales “unexpected” anddisappointing, but a deeper look at the data shows the news isn’t as bad as it first appears.
First, on a regional basis, sales were mostly solid. Only the Northeast region posted a loss. The West even managed a gain.
Northeast : -18.3 percent
Midwest : 0.0 percent
South : +0.5 percent
West : +4.9 percent
Second, the supply of homes for sale dropped to 8.3 in May and, because home prices are based on supply and demand, this is a positive for pricing.
By comparison, in 2008, the average existing home inventory was 10.4 months.
And, lastly, in May, first-time home buyers represented 46 percent of all buyers. The number was likely buoyed by the tax credit program but that doesn’t damper the fact that first-time buyers provide a support floor for the housing market.
First-time buyers in Salt Lake enable “existing owners” to move-up to bigger homes, which, in turn, trickles up to the mid-size and jumbo markets.
Analysts expected more from May’s numbers and that may explain why the reaction to the data is generally negative. However, in many cities, home resales did just fine.
I found this really interesting, kind of long but worth it. The city has been hit pretty hard. Now I really don’t like turning it into a political issue, because I don’t think it is necessarily. However what we do know is that it hasn’t worked in the past. Scary to think about..
Salt lake County Home builders association has posted some interesting news and opinions on the economic recovery. We all knew these govt. incentives were falsely inflating our local econmic recovery. And the Home Builders just admitted they can’t survive without a little bailout money from our govt. To be honest, it is time to clean house. I am a Real Estate Broker, right now is a time for the survival of the fitest. And I think we will see who makes it throught this perfect storm. Builders, real estate agents, everyone..
Salt Lake City, UTAH is no different from the rest of the country we are struggling just like everyone else on the Real Estate Market front..
Well, I am not sure if I completely agree with this article, however I am going to be optomistic and say ok! I mean I hope we do not go into another double dip recession. This thing keeps lasting a lot longer than everyone thought it would, wow have the dominos fallen, and I feel like they keep falling. In a world of high tech communication and the world wide web. Information is transmitted instantaneously, meaning the stock market falls the second news is reported. So do I think these economists have it right?
Hey everyone, just wanted to keep everyone in the loop for concerts in Salt Lake City, UTAH. If you are looking for something fun to do, check out the following events in Salt Lake City..
This is great news, I love hearing things like this during these negative times of the market. Real Estate in Utah is still moving and changing. This is a 40 year project. And it will enhance all of Utah County.. This is great News for People that live in that part of Utah. Utah County should be thrilled, this will clean up the lake and make it a better destination. About time someone take some initiative and figure some things out.
Well I think we are going to keep seeing these types of articles over the next several months. We are not out of the woods yet my friends. Foreclosures are still on the rise, the Real Estate industry is still seeing the effects of the down turn. It is going to take the next 18 months for us to weed through the mess and carnage of the downturn. And Utah Real Estates is no different. Here in Salt Lake City, we are seeing Short Sales finally getting approved and many of them are closing.. Great News? Yes it is, however many of them are finally going into foreclosure. The banks have wasted so much time, and therefore are forced to foreclose. Many of these properties are so dilapitated by this point, the prices keep going down. When are the banks going to figure this out. I know this because I have done, 20 short sales for clients over the last 12 months..
Private Retreat nestled between two world class ski resorts. Property boasts 22 Acres with River Frontage. Private 2.5 acre lake with 5-10 lb Rainbow Trout & KOI Fish, Also a 1/4 acre spawning pond. Approximately 5+ Acres professionally landscaped with 3 large waterfalls. An Equestrians dram with Barns, Stalls & Fully fenced corrals. Property is less than 1 mile from Pine View Reservoir. This stunning custom Residence features a Gourmet Kitchen, Exquisite Master Suite, State of the Art Theater, Lap Pool & Sauna. A play Room that would be every Childs Paradise. Attention to details & Finishes are evident throughout, including high end materials from around the world. Panoramic Views and captivating sunsets provide a backdrop for the perfect evening..
Interesting article explaining what has happened with Barnes Bank of Utah, and Zions Banks possibility of taking over.
One of the many seized banks of the FDIC during this downturn, Barnes Bank of Utah was heavily invested in speculative real estate. Many of these properties have come up for Auction through the FDIC..
