via Developer secures financing for Sugar Hole project | ksl.com.

via New tax deal may speed Cottonwood Mall revival | The Salt Lake Tribune.

via Home Affordability At Its Highest in Nearly Two Decades.

3. Salt Lake City, Utah

2011 Building Permit Forecast: 1,294

2012 Building Permit Forecast: 1,181

With lots of high-tech businesses, Salt Lake City is poised to have some grains in employment and income in the coming year. After a drop in home prices, prices are expected to rebound and increase 4.7 percent next year.

via The 8 Healthiest Housing Markets | Realtor Magazine.

Best Real estate deals in Utah.

	1061189	$279,000	Active	2-Story	4,271	$0	4425 S / 1929 E	10
	1929 E OSAGE ORANGE			Holladay, UT		0.23	None	1/0
	5/4.00/2	Full/90%		10/26/2011		1956	Single Family

	1033856	$320,000	Active	2-Story	4,617	$0	14795 S / 1925 E	13
	14795 S GOLDENLEAF			Draper, UT		0.32	None	3/0
	5/4.00/1	Daylight; Full/25%		05/17/2011		2000	Single Family

The two simple graphs above show the true story in Holladay.  Despite the media’s perception Holladay has fared better than most in downturn of the real estate market.  The AVERAGE sales price in Holladay 2007 VS thus far in 2011 has only decreased 7%.  This is mainly due to the fact that more homes have sold over $1,000,000 in Holladay than any other zip code.  Even then  you analyze the price per foot decrease in the same time period Holladay has only lost 25% in value compared to Salt Lake Counties overall decrease of 38%.  When it comes to the FACTS you need to have a Real Estate Broker that knows the market and has a proven track record of success.  The Utah Cribs Team sets the new bench mark.  We can provide any market specific data you want to help you make an educated decision.  Give us a try.

Holladay Stats

via A Look Ahead at New Homes of 2015 – Yahoo! Real Estate.

The dominant theme for the third quarter was flight to safety, with bonds generally rising and stocks falling sharply. In an environment marked by particular concern about the Eurozone, both the US dollar and Japanese yen were sought as safe havens by investors.

as of September 30, 2011

Economic

Review

Most US bond indexes delivered positive numbers, with results ranging from approximately +3 to +6%. Notably, long-term US Treasuries benefited handsomely from the implementation of Operation Twist, the Federal Reserve’s program to sell short-term and buy long-term government debt.

Within US equities, the typically riskier small caps were down more than large caps. As well, international equities, encompassing emerging and developed markets, underperformed the US market. While the MSCI All Country World ex-US Index retreated -19.78% for the quarter, the drop in the US S&P 500 Total Return Index was smaller at -13.87%.

Commodities and real estate also lost ground. The Dow Jones UBS Commodity Total Return Index ended the quarter down -11.33%, while the FTSE NAREIT All Equity REITs Total Return Index fell -15.07%.

Challenges Facing Europe

Much of the risk aversion in the equity market can be traced to continuing economic challenges in Europe. In particular, Greek default remains a possibility; Spain and Italy are both financially strained; the European financial sector is under stress; and European companies in general are warning of “shortfalls.”1

1 Ewen Cameron Watt, et al, “Recalibrating Investment Strategies After a Summer of Volatility,” BlackRock Special Market Update, September 12, 2011.

2 Bob Doll, et al, “What’s Next for the Global Markets?” BlackRock Special Market Update, September 27, 2011.

3 Robert Scherfke, PhD, “Watch the World: Markets Versus Policy,” Wellington Management Viewpoints, September 2011.

These hurdles, however, are not insurmountable. The European Union may successfully expand the available capital needed to stabilize various countries and put plans in place that could support growth. 2 And when assessing potential outcomes in Europe, it is important to keep in mind that “there is more room for monetary stimulus in Europe. The European Central Bank (ECB) actually raised rates [recently]… and it could certainly cut rates by quite a lot.”3

Grounds for Optimism in Asia and the US

There are also bright spots in both Asia and the US to consider. Despite signs of slowing in global growth, which can threaten exports, “Asia still has much more policy flexibility than the developed world.” And

by Mark A. Reese

Utah has a new law that affects everyone in the state who owns a condominium.  Under the old law, Condominium Associations were responsible for damages to the exterior of each residential building, but the interior of the building was the responsibility of the individual unit owner.  Floor coverings, kitchen cabinets, bathroom vanities, and other fixtures that were permanently attached to the building needed to be solely by covered by the unit owner’s policy.  So, in addition to your contents, you needed to have an adequate amount of Building Coverage to replace any part of the interior that might be damaged.  On July 1, 2011, that all changed.

Under Utah Senate Bill 167 which has now become law, the blanket insurance policy carried by Condominium Associations must also provide coverage for the interior of each residential unit.  You might imagine how that is changing the insurance needs for associations and individual condo owners.  One neighbor may not have made many improvements to their home since they first purchased it.  Another may have added gilded crown molding, an imported crystal chandelier, and expanded their designer kitchen.  Clearly, each would have different insurance needs, but who, the association or the unit owner would pay for a loss to the interior of the building?

The new law reads in part, an Association of Unit Owners shall maintain:

“…property insurance on the physical structures in the condominium project, including common areas and facilities, limited common areas and facilities and units, insuring against all risks of direct physical loss commonly insured against, including fire and extended coverage perils…”

“Property insurance shall include coverage for any fixtures, improvements, or betterments installed by a unit owner or to a limited common area, including a floor covering, cabinet, light fixture, electrical fixture, heating or plumbing fixture, paint, wall covering, window and any other item permanently part of or affixed to a unit…”

At first glance, it might seem that since the association is responsible to extend coverage to the interior of the building, you may not need as much coverage.  But given that condominium associations and insurance companies could find it more difficult to maintain the right level of coverage over time, associations are electing to increase their deductibles—up to $10,000 under the new law.  So, who pays that deductible?

The new ruling goes on to say:

“If, in the exercise of the business judgment rule, the management committee determines that a claim is likely not to exceed the property insurance policy deductible of the association of unit owners; the unit owner’s policy is considered the policy for primary coverage to the amount of the policy deductible of the association of unit owners; a unit owner who does not have a policy to cover the property insurance policy deductible of the association of unit owners is responsible for the loss to the amount of the policy deductible…”

While this may seem overwhelming for many, remembering two things will keep you pointed in the right direction.  First, with the passage of this senate bill, it’s very important to make certain you understand the provisions of your condominium association’s policy, including the policy’s deductibles and exclusions.  Second, as insurance policies become more complex, the need to scrutinize each policy and to integrate one policy with another is essential to avoiding gaps in coverage.  If you are uncertain whether your policy is adequate in light of the new law, consult with an insurance agent who can guide you through the details.

via Utah’s New Condominium Law.

If you are looking for a steal on a condo, go buy one from this Auction I will see you there.