Prudential Utah Real Estate

Utah Home Sales Up, Prices Down

2009-10-30T08:46:00.001-07:00

Tax Credit Clowns Join the Housing Circus

2009-10-27T12:05:00.001-07:00

Layton Real Estate

2009-10-12T16:36:00.000-07:00

Layton Real Estate Surrounded by Opportunity

Often when home shoppers hear about Utah real estate, they hear information related to the Salt Lake City metropolitan area. You know, there are so many great communities in Northern Utah and it only seems right that we eventually tell you about all of them! Today’s community spotlight is on Layton real estate.

Layton is located very near Utah’s Great Salt Lake. It is also bordered by the Rocky Mountain Wasatch Range. If you’re looking for a great place to raise a family, Layton real estate is something you should seriously consider.

Layton is about 25 miles north of Salt Lake City. Utah roads are easy to access and well-maintained. From Salt Lake City you can easily roll into Layton on Interstate 15.

Outdoor recreation is important to the Layton community and when you buy Layton real estate, you are buying your own little piece of heaven in the midst of recreation sites for water sports, mountain climbing, wildlife viewing, hunting, fishing, organized sports, biking, hiking and so much more.

Antelope Island

Layton, Utah is located in Davis County very near the Great Salt Lake and its famous Antelope Island.

Antelope Island State Park is a beautiful island on the Great Salt Lake. When you buy Layton real estate you really are buying a “home where the buffalo roam.” We call them bison here and more than 500 of them roam antelope island (don’t ask me why they didn’t name it Buffalo Island). There you can also catch a glimpse of pronghorn and bighorn sheep and other wildlife that thrive on the island’s unique biology, geology and history.

Lagoon Amusement Park

Lagoon Amusement Park is actually located in Farmington, Utah, but all Layton real estate is within a short distance of the amazing amusement park. Lagoon is the largest amusement park west of the Mississippi and east of California, according to the Davis Area Bureau.

When you buy Layton real estate, think of Lagoon as your own personal form of entertainment. The park has a fascinating history. According to media information released by the Lagoon Corporation online, “In the late 1800s, a number of recreational resorts sprang to life along the shores of the Great Salt Lake.

One of these was the original Lagoon, then called “Lake Park”. It was “one of the most attractive watering places in the West”, opening to the public on July 15, 1886.

Every year the park adds one or more new rides to entertain the masses and the Jumping Dragon was introduced to the park this year. Lagoon officials report, “This roundabout motion ride is circular with hills and dales creating considerable centrifugal force. The ride quickly accelerates and will run both forward and backward. The dragon consists of a large, ornately decorated serpent-like figure with 18 carriers imbedded in its undulating body, culminating dramatically in a whipping upward 15 foot tail. As the dragon circles round and round chasing its tail, it leaps up to two meters and travels through a Chinese pagoda that is over 40 feet tall.”

Now, who would want to miss that?

Education and Employment

Least you get the idea Layton real estate is all fun and games, I’d better note the quality education available to learners of all ages here. Layton is located in the Davis County School District. Weber State University in Ogden, Utah is just about 15 miles north of Layton. The university is easily accessible on the Interstate or by means of public transportation. Layton real estate is also very near the greater Salt Lake metropolitan area where you will find fine institutions of higher learning like the University of Utah, Salt Lake Community College, and many private and public institutions of higher learning.

Employment opportunities abound in Layton and the surrounding area. Hill Air Force Base is an Air Force Materiel Command base located in Davis County and it is Utah’s largest employer.

Nitty Gritty Details

People: Layton’s population in 2009 is at about 64,311. According to Sperling’s Best Places online, there are 3,030 people per square mile of Layton real estate. The median age is 27.9.

Economy: The unemployment rate in Layton is at about 5.40%. Future job growth over the next ten years is predicted to be 30.90%. The sales tax rate in Layton is 6.50% with state income tax of 7%. The median household income in Layton is $62,280.

Housing: The median home value in Layton fluctuates, but is estimated at $172,850 today.

Cost of living: According to Sperling’s Best Places online, the overall cost of living in Layton is 96.79 percent. Sperling’s cost of living indices are based on a US average of 100. An amount below 100 means Layton, UT is cheaper than the US average. A cost of living index above 100 means Layton, UT is more expensive.

I could go on all day about Layton real estate and singing the praises of Layton, but why don’t you come see this beautiful community for yourself?

Any agent in our South Ogden office can help you with the sale and purchase of Layton real estate:

South Ogden
1740 East Combe Road, Suites 5 and 6
South Ogden, Utah 84403
Phone: 801-781-2223
Fax: 801-781-2224

Or, please contact your Prudential Utah Real Estate main office today for more information about Layton!

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Salt Lake Transportation: You Can Get There from Here!

2009-10-10T17:18:00.000-07:00

Once you’re in the greater Salt Lake area, it’s hard to imagine you would want to be anywhere else! However, it’s worth noting that Salt Lake transportation is ready and available no matter where you want to be!

Thanks to a stellar Salt Lake transportation system, northern Utah is working toward a greener environment. Mass transit is becoming increasingly popular as the Salt Lake transportation system gets better, fuel prices get higher and people become more environmentally conscious. The historic announcement that Salt Lake City would host the world’s 2002 Winter Olympics put Salt Lake transportation on a fast track to regional improvements conducive to hauling high numbers of people to desirable area locations.

The Salt Lake transportation system now consists of:
· An amazing network of roads
· A light rail system
· A commuter rail line
· Taxi cabs
· Trains
· International air travel
Planes, trains and automobiles, what more could you want? Granted, if you’re looking to cruise to Salt Lake, you’d better start out on the Great Salt Lake. We don’t have much of an oceanic shoreline here, but the Salt Lake transportation system has got some great methods of getting you there if that’s really where you want to go.
The Utah Transit Authority oversees all Salt Lake transportation systems including the TRAX light rail system and FrontRunner.

The Salt Lake transportation system includes two major interstate highways, Interstate 15 and Interstate 80. They intersect west of Downtown Salt Lake City.

If you want to save money, relax during your commute, and spare the environment here, consider taking any one of the UTA busses in the Salt Lake transportation system. The bus will take you nearly anywhere you want to go within the city limits and throughout the valley north, south, east and west. There’s even a curbside pickup service for disabled riders.

UTA features a Free Fare Zone within the downtown Salt Lake City area and right on up to the Utah State Capitol.

Prefer to ride a streetcar? Never fear. The Sugarhouse Streetcar is almost here. According to a May 29, 2009 Deseret News article by Aaron Falk, “Street cars should roll in three years.”

This Salt Lake transportation concept will be a lower-speed, lower-capacity system than TRAX light rail. Some have compared it to the Portland Streetcar in Oregon and Seattle Washington’s South Lake Union Streetcar.

Businessmen and businesswomen frequently travel to and from Salt Lake City via the Salt Lake International Airport. The Salt Lake transportation system features air service through Delta Air Lines and a Delta Connection partner with SkyWest Airlines. Salt Lake International Airport offers non-stop domestic and international flights to a wide varietYof cities in many countries. You really can get there from here!

If you’re looking for a romantic ride across the country, consider Amtrak, the national passenger rail system.

And, of course, Salt Lake City is proud to have multiple taxi-cab services throughout our fair city!

Salt Lake transportation is an important component of our commerce-conscious community.

If you’re looking for a home or property in the Salt Lake City area, allow Prudential Utah Real Estate to escort you to personal showings. We’ll help you get to know our town and accommodate your travel needs while you tour our lovely city!

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

‘Utah, Life Elevated’: Did I mention Ski Season is Coming?

2009-10-05T13:38:00.000-07:00

If you lived in Salt Lake City, you could pull into any one of 11 alpine ski resorts within about 60 minutes and ski Utah! Ahhhh. Fresh powder melting in the mountain sun all over your sexy new ski goggles. In case you haven’t heard, Utah boasts The Greatest Snow on Earth®.

Now, why would I bring this up today, before you’ve even had a chance to stow away your Hawaiian-style swim trunks? I wanted to make you aware of the amazing local deals ski resorts are making right here in Utah where life truly is elevated!

You can get great package deals to ski Utah(and huge discounts if you’re local) right now. The discounts decrease as opening day draws near. Visit www.skiutah.com to learn more about local incentives and Northern Utah’s amazing resorts for beginning bunnies to human hotdoggers.

There’s still time, you know to close on a Northern Utah home, collect on your $8,000 first-time homebuyer tax credit, a $4,000 Utah homebuyers grant and easily purchase season ski passes for the entire family. Chances are, you won’t even miss opening day.

Prudential Utah Real Estate is part of the Prudential Real Estate® network and our relocation services are absolutely amazing. Why spend all of your time stressing over a move when you could be moving on the slopes?

Every year Utah receives an average of 500-inches of the lightest, driest powder, according to www.skiutah.com. According to the Utah website: “Utah can't be beat for its terrain and consistency of the lightest, deepest powder around. From the rugged powder choked steeps of Big and Little Cottonwood Canyon, home to Alta, Brighton, Snowbird, and Solitude, to the immaculately manicured slopes of Park City, where you can find Deer Valley, Park City Mountain Resort, and The Canyons, Utah has it all. Even if your dream is arcing turns on uncrowded slopes we've got you covered. Far from the crowds, but still close to the airport, you'll find Snowbasin, Powder Mountain, Wolf Creek Utah, Beaver Mountain, Sundance and Brian Head. Our ski and snowboard winter resorts hosted the world in 2002 and now they are prepared to welcome you.”

Whether you’re looking for your first family home in the suburbs, or a luxury condominium in the powdery mountains, Prudential Utah Real Estate has a great inventory of residential properties priced just right. We’ll be happy to show you our list of Utah foreclosures and short sales too. Right now is a great time to invest in Utah real estate.

Thinking of making a little extra income with investment property? Consider purchasing a small apartment building or condominium near the resorts to cater to the outdoor crowd. Winter isn’t the only happening time at Utah’s resorts. When the snow melts away people come from all over the world to hike, bike, fish, hunt, boat, swim, take photographs and just commune with nature. And, Utah has a great student population base looking for a Utah home away from home.

This year is the year for you to buy your dream home in Utah’s winter wonderland.

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Utah Goes for another Home Run with $4,000 Home Buyer Grants

2009-09-08T22:44:00.001-07:00

The good news just keeps getting better for Utah home buyers. Gov. Gary Herbert is in the field and on his way to scoring a home run. Federal stimulus money totaling $8 million is being pitched to up to 2,000 home buyers via $4,000 grants.

All of the players are running fast and if you want to get in on this opportunity (which, by the way can still be combined with the federal government’s $8,000 first-time homebuyer tax credit) then you’d better get in the game.

Both programs expire on Dec. 1. That means loans must be signed, sealed and funds delivered in order to qualify.

The concept isn’t new, of course. In fact, former Gov. Jon Huntsman started the trend by offering $6,000 grants to those purchasing newly constructed homes in order to help pare down the overwhelming inventory on the market. That program met with tremendous success and gave the Utah economy, particularly the housing market, a boost it really needed.

It only took 12 weeks to issue 1,600 grants. That means 1,600 homes were sold and removed from our market. It also means some Utah home buyers got amazing deals on new homes.

The $4,000 grants will be administered by the Utah Housing Corporation. There are some limitations and it’s important to note those before you start shopping. These grants are available only to individuals with an annual salary of less than $75,000 or a couple with less than $150,000 combined income. You don’t have to be a first-time home buyer and there is no limit on the price of the home.

Contact Prudential Utah Real Estate Today so we can get started today. Let us help you take advantage of the Fed’s $8,000 tax credit and/or Utah’s newly unveiled $4,000 housing grant.

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Autumn Emigration Canyon’s Main Attraction

2009-09-08T10:41:00.000-07:00

Can you feel it? Autumn is beginning to push away the warm summer days. Each morning gets a little cooler. Evenings are nippy and that aroma, that unmistakable aroma of a seasonal change is everywhere.

I’ve said it before and I’ll say it again; one of the things I truly love about Utah is the opportunity for outdoor recreation. If you live in Utah, or are planning a visit here in the fall, don’t miss an opportunity to see the amazing display of colored leaves in Emigration Canyon.

Emigration Canyon is more than a pretty ride for those of us who are passionate about Northern Utah and its amazing outdoors. It’s historical significance – whether you are aware of it or not – offers an ambiance worth breathing in. Properties in emigration canyon are amazing and were it not for the natural beauty of the area, the homes there alone would be enough to see.

Where is Emigration Canyon?

The canyon is 8 miles long and it begins at the aptly-named Sunnyside Avenue (also known as 850 South). The canyon will take you on a thrilling ride into Northern Utah’s Wasatch Mountains. Emigration Canyon was declared a National Historic Landmark in 1961.

The entrance to Emigration Canyon marks its historical significance at This is the Place Heritage Park. The park is a spectacular scene from a moment in history when Mormon Pioneers (from the Church of Jesus Christ of Latter-day Saints) first settled in our once desolate desert. The pioneer village is alive with pioneer crafts, puppet shows, classes, rug making, butter churning and even bread baking. There are great shops in the village and it’s just a fascinating way to start a day in the canyon.

Adjacent to the park is Salt Lake City’s famous Hogle Zoo. Hogle Zoo dates back to 1931. This 42-acre attraction features natural hillside terrain and tree-covered pathways to make visiting hundreds of animals from hundreds of species a pleasant and exciting adventure.

Hogle Zoo claims to be one of the “top visited attractions in the state of Utah and the number one paid tourist attraction in Salt Lake City.”
Go by Bike, Car, Truck or on Foot, but Go Up Emigration Canyon in the Fall

Fall shows its true colors. This riparian forest features Box Elder, Lanceleaf Cottonwood, Fremont Cottonwood, Narrowleaf Cottonwood, Peachleaf Willow and Gambel Oak, according to a report on Emigration Creek Trees written by Westminster College’s Dianne Boogert.

If you’re hiking or riding a bike, be sure to stop off at any one of the quaint eateries along the way. When you reach the top of the canyon at Little Mountain Pass, take time to absorb the breathtaking view of Mill Creek Ridge, Lookout Peak and Upper Mountain Dell Reservoir. Now that’s what I’m talkin’ about.

Fair warning: You will fall in love with this place. Prudential Utah Real Estate can help you there. We have hundreds of home listings throughout Northern Utah and can’t wait to show you around. Contact us today.

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Silver Lining Shines around Falling Housing Prices

2009-08-27T12:46:00.000-07:00

Okay. Yes. The Federal Housing Finance Agency has reported a 12 percent decrease in Utah home values in the second quarter of 2009 compared to the same quarter in 2008. Nobody wants to hear their home is worth less today than it was a year ago. But there is a silver lining here and it was painted very aptly by Salt Lake Tribune business reporter Lesley Mitchell in an Aug. 26 article titled, “Utah home values still on the skids, but pain means deals for some buyers.”

For a list of Utah towns and decrease percentages, you’ll find a helpful table on the Trib’s website at http://extras.sltrib.com/homeprices/. Salt Lake suffered the highest decrease at -21.6 percent. In Riverton, Utah, home prices decreased only 1 percent. Home prices in the 84119 West Valley City zip code area actually increased 2.1 percent. Ironically, prices decreased 16.4 percent in the 84120 zone.

Markets fluctuate. It’s a reality we all have to face and despite highly-publicized tumbling prices, good and encouraging news is coming from other sources. All indications are that the American economy is on the long, long road to recovery. Just ask Federal Reserve Chairman Ben Bernanke (who appears to be high in the President’s favor this week). He announced at a conference in Jackson Hole, Wyo. on Aug. 21 that the U.S. economy is on the verge of recovery. That’s a pretty bold statement to make, but the sentiment gained steam when the National Association of Realtors® echoed Bernanke’s conjecture on the same day with an announcement that the number of homes sold in America has steadily increased for the past four months.

The increase in home sales is great news and not necessarily shadowed by falling prices. Sorry. The bad news is a driving force behind the good news. Lower housing prices equal more sales. People are bargain shopping. They’re taking advantage of unprecedented government incentives in Utah and throughout the nation. That’s not necessarily a bad thing.

One homeowner quoted in Mitchell’s article pointed out that, yes, he had significantly reduced the price of his home. However, he was able to purchase a new home at an equally reduced rate. Things have a way of balancing out, don’t they?

As the inventory of Utah foreclosures and Utah short sales begins to diminish, as the economy continues its trek to recovery, buyers and sellers are likely to remain motivated. It’s a simple case of supply and demand. Reduced inventory will eventually lead to small, incremental increases in home prices and – in the end – the market will stabilize.

My advice to buyers is, “Make your move now.”

My advice to motivated sellers is, “Make your move now.”

Buyers still may have time to take advantage of the Fed’s First-Time Homebuyer Tax Credit. Recent reporting legislation has slowed the process, so if you have any plan of getting in on an $8,000 cash windfall compliments of the Obama Administration, start shopping and don’t take too long to decide. Even if you don’t qualify for, or don’t get approved in time to receive the tax credit, prices are low and it is still certainly a buyer’s market. Take advantage of it while you can.

Motivated home sellers who plan to sell, relocate and buy a new home need to keep in mind that your lower selling price could translate into a quick sale and the opportunity to replace your home while values are still perceived to be low. Buyers are out bargain hunting and they aren’t necessarily hung up on buying a short sale or foreclosure property. They just want to know they’re getting a good deal. Who doesn’t want to know that?

Prudential Utah Real Estate brings buyers and sellers together every day to create mutually beneficial opportunities in the real estate market. Our professional sales executives take the time to listen to their clients – buyers and sellers. We’re always on the lookout for the best possible scenario. More times than not, we find it.

Contact your Prudential Utah Real Estate representative today. If you don’t have one, visit our website at http://www.pureutah.com and select from any one of our professional agents with specialized knowledge in your geographic area.

About Joel CarsonJoel Carson is president and owner of Prudential Utah Real Estate, Utah’s largest real estate company. To find agents in tune with market conditions who can help you buy and sell property and fair market prices, visit http://www.pureutah.com.

Education Key: UAR Convention Brings Industry Up to Date

2009-08-19T08:45:00.000-07:00

I believe in education. Thanks to an unfamiliar and somewhat unpredictable market and new government regulations, the rules of the real estate game have changed. Good real estate associates, brokers, lenders, appraisers and all others associated with the real estate industry know how important it is to stay on top of local, state and national trends.

When you choose someone to help you with the sale or purchase of your home, ask that individual about the efforts he or she makes to stay informed. Find out what sources and resources that individual uses to analyze local market conditions and understand laws, government programs and the local economy. Answers can be very telling.

That’s why events such as the Utah Association of Realtors 2009 Convention are so important. If you’re associated with the real estate industry in any way, this event is one to attend. The convention will be held Oct. 5-8 at the Zermatt Resort and Spa in Midway, Utah. Presenting sponsors include the Salt Lake Board of REALTORS®, Wasatch Front Regional Multiple Listing Service and Wells Fargo Mortgage. You can learn all about the convention and even register online at http://takeaction.realtoractioncenter.com/utrealtors/2009convention.html.

At this event you’ll find valuable information on WFR Metis I searches and reports, documented disclosure, marketing and technology, making money in the new economy, business planning, taxes, short sale forms, appraisals and mortgages, marketing with technology and more. This is a great place to learn about political issues and real estate industry ethics too. Not only that, it’s an amazing networking opportunity.

The Utah real estate market is on the mend. As owner and founder of Utah’s largest real estate company, I urge you to learn to survive in our slow economy so you can thrive in a corrected market.
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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Wasatch Front 2009, Q2 Statistics Bring Cautious Sighs of Relief

2009-08-04T09:39:00.000-07:00

Great news! Utah’s Wasatch Front real estate market is showing some encouraging signs of improvement. For months we were seeing a disturbing trend in decreasing home sales in the later part of 2008 and the early part of 2009. The decline slowed significantly in the second quarter of 2009 and that could mean a stressed market is on the mend.

The Salt Lake Board of REALTORS® and the Utah Association of Realtors® made the announcement in a July 28, 2009 press release stating, “The decline in Wasatch Front home sales slowed in the second quarter with existing home sales close to year‐ago levels …”

Utah County really has something to celebrate as it actually saw a 2 percent increase in home sales over the same period in 2008.

Federal and state incentives were a tremendous help in jumpstarting the market. Discount prices didn’t hurt either. It’s a little early to be jumping up and down, but any positive market movement is cause for celebration. Positive news bolsters consumer confidence and hopefully the cycle will continue onward and upward as our economy enters a recovery phase (is it too early to call it a recovery phase?).

While sales are on the rise, it could take some time for prices to reach pre-crash levels. According to the Salt Lake Board of REALTORS® and the Utah Association of REALTORS® single-family home prices averaged $217,000 – that’s 5 percent less than the average Wasatch Front home price in the second quarter of 2008, $229,000.

The Salt Lake Board of REALTORS® has been providing valuable information to us on the “home” front since 1917. Today it forges on providing sales trends and market data to professionals with an interest in the real estate market.

For specific statistical data, be sure to visit the Salt Lake Board of REALTORS® website.

Prudential Utah Real Estate is the largest real estate company in Utah. We watch sales and market trends carefully so we can provide you with up to date information. Our research of market conditions helps consumers price homes properly when selling, and offer fair and reasonable prices based on market trends and a variety of other important factors taken into consideration by our highly trained professionals.

Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Utah One of America’s Best Places to Live

2009-07-21T17:42:00.000-07:00

(As if we didn’t already know)

What does it take to be deemed one of America’s best small towns? Just ask residents in Farmington, Draper, Bountiful and Lindon, Utah. All were listed among the Top 100 Best Places to Live in the 2009 America’s Best Small Towns report released by Money Magazine.

Farmington, Utah ranked near the top of the list at number 14. Here’s what Money Magazine has to say about Farmington, Utah:

“A one-stoplight town squeezed between the Wasatch Mountains and the Great Salt Lake, Farmington has a quaint, quiet downtown with few shops. Homes here come in all shapes and sizes, from bungalows to ramblers to tri-levels to modern farmhouses.”

Many of us “Utahans” know Farmington as the home of Lagoon, a major Utah amusement park. The population there is about 16,500. This rural area is in transition to become a “bedroom community.” Although Farmington is small, every product and service you could want or need is available in Salt Lake City, just 20 minutes to the South. Ogden, Utah is about 20 minutes to the north and major employers, like Hill Air Force Base (also mentioned by CNNMoney.com) provide plenty of employment for those who want to go home to a quiet and comfy life.

Draper, Utah (population 38,600) ranked 22 on the list. Personally, I would have ranked it much, much higher because Draper is quickly becoming a residential miracle. Here’s what Money had to say about Draper:

“Draper's population tripled from 1990 to 2000, and it's not hard to see why. Twenty minutes from Salt Lake City, this town offers an abundance of amenities: a new $3 million library, three tennis courts, a swimming pool, a golf course, and 29 parks.

“There's a wide variety of hiking trails, plus a world-class hang gliding spot called Point of the Mountain.

“Most residents live in modern subdivisions, but for those who wish to raise horses, a few larger properties are available.”

Bountiful, Utah is also among the top 100, ranked at 71. Bountiful, with a population of 43,800, is ever evolving. Here’s what Money had to say about Bountiful:

“This bedroom community north of Salt Lake City has become a booming, self-sufficient place. With numerous restaurants, shopping centers, and other commercial amenities, residents don't have to leave town.

“Rush-hour traffic into and out of SLC was once a problem, but the construction of new highways and a commuter train have alleviated the congestion.

“Bountiful is bordered on the west by the Great Salt Lake and by the Wasatch Mountains on the east. The most prized homes in the area are on the "Bountiful Bench," a plateau offering great views of the lake, valley, and mountains.”

Our little Lindon is growing up! With a population of only 10,000, Money Magazine placed Lindon under a microscope and loved what it saw. It’s no surprise. Here’s what Money had to say about Lindon:

“This heavily Mormon town stretches from the base of the Wasatch Range to Utah Lake. Most residents work immediately to the south in the twin cities of Orem or Provo.
“Lindon has very few retail businesses, but plenty of shopping is available nearby. Community activities usually revolve around the Church of Jesus Christ of Latter-day Saints.

“Homes here tend to be brown stucco; those on the east side of town offer fantastic views of the Utah Valley and the lake. Lindon has had some foreclosures, and prices have dropped as homes flooded the market. “

Another Utah city, Holladay, earned a mention as having the 27th highest median family income -- $101,059.

What makes a community a “great place to live?” according to people interviewed by Money Magazine, some of the best features are proximity to a major metropolitan community with a rural hometown atmosphere. Recreational opportunities rank high as do aesthetics, a solid economy and a great education system. Utah has many great communities that meet the criteria! Contact Prudential Utah Real Estate today for information about homes available in our Northern Utah communities.

Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Utah’s Hot Economic Climate Burns Despite a Cold Economy

2009-07-09T08:12:00.000-07:00

I’ve been known to tout the glory of living in Utah. Hey, it’s a great place. That’s why I live here. I love the distinctly different four seasons. The opportunities for outdoor recreation are endless and this is the best place I know of to raise a family. Now, I’m a business man and it is not by chance that my colleagues and I chose Utah as the headquarters for Prudential Utah Real Estate. All niceties aside, Utah’s business climate is hot, hot, hot in a cold and clammy nationwide economy.

I know this is true because I live here. I do business here every day, day in and day out. But I’m not blinded by my personal passion for this place. Utah has received some serious accolades from objective parties who have taken a good, hard look at business in Utah compared to the rest of the country.

The Utah Governor’s Office of Economic Development (has published a “resume” for Utah. The title of the document is “Utah’s Resume is Second to None.” I tend to agree, but then – I live here, I work here and I’m prospering here in every aspect of my life.

I’m proud of Prudential Utah Real Estate’s success. It took a team of hard-working and dedicated people to get us here. But I have to give some credit where credit is due. Overall, our state’s leadership has created a dynamic state economy.

I’d like to share a small portion of Utah’s “resume” with you as published by the Utah GoEd office.

Utah #1
“MOST DYNAMIC ECONOMY”
– Kauffman 2008 State New Economy Index
#1 “Inventor Patents”
#2 “Online Population”
#3 “Fastest Growing Firms”
#6 “Venture Capital”

Utah #1
“THE BEST MANAGED STATE
IN THE NATION”
– The Pew Center on the States
The Center ranked the states based on how well they manage
their budgets, staffs, infrastructure and information.
States were graded on their recruitment and retention of
qualified employees, their use of information and technology,
management of budgets and purchasing systems,
and planning for improvements to roads, bridges and
other core infrastructure.

Utah #1
ECONOMIC OUTLOOK
– Rich States Poor States
ALEC – Laffer State Economic Competitiveness Index
Based on 16 important state policy variables, Utah ranked
number one in the nation for overall future economic
outlook.

Utah #1
TECHNOLOGY CONCENTRATION
AND DYNAMISM
– Milken Institute
The Milken Institute is a nonprofit, independent economic
think tank whose mission is to improve the lives and economic
conditions of diverse populations helping business
and public policy leaders identify and implement innovative
ideas for creating broad-based prosperity.

UTAH TOP 10 STATES
WITH STABLE REVENUES
FOR 2009
– National Conference of Sate Legislatures
Utah’s situation, thanks to conservative budgetary forecasts
and not spending one-time money on ongoing needs,
is much sunnier by comparison to other states. “Utah is
in a relatively healthier fiscal situation than most states,
and in fact, one of only 10 states to project a stable outlook
for revenues” for the 2009 fiscal year.

BEST-PERFORMING
CITIES 2008
Where America’s Jobs Are Created and Sustained
– Milken Institute
Top 25 Large Metros
#1 – Provo-Orem, Utah
#3 – Salt Lake City, Utah
#18 – Ogden-Clearfield, Utah

The business climate here is one of the reasons Utah real estate continues to sell even in a slow market. If you’re looking for a place to start your business, or if you’re looking for a place to relocate, one of your first calls should be to the Utah Governor’s Office of Economic Development. Do a little research of your own at www.utah.gov/business. Or, call the state office at 801-538-7300. As an energy-saving measure, state offices are closed on Fridays.

Once you decide to set up shop in one of the greatest states in the nation, your next call should be to Prudential Utah Real Estate. Our agents will help you find the perfect commercial location and homes for your relocating management and employees.
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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit www.pureutah.com.

Alphabet Soup Feds Cooked Up Pretty Tasty to Consumers

2009-07-05T02:49:00.001-07:00

Times are Changing, So are Loan Regulations

Okay, I’ll just come right out and say it – I’m not a big fan of government regulations that complicate the already arduous task of loan processing. In fact, I don’t know anyone who is a big fan of federal alphabet soup. (No one, but no one is better at making alphabet soup than the federal government).

New rules and regulations have arrived and others are coming down the pike and I’ve decided to hold off on having lunch and just go ahead and take a big old bite of this alphabet soup. While there will no doubt be a learning curve for those involved in the real estate industry, including buyers, sellers and Realtors®, it is advisable to have good disclosure processes in this day of age. These changes will be – overall – good for the future of our industry.

Let’s start with definitions:
HERA: Housing and Economic Recovery Act. This Congressional act passed in 2008 in the midst of an economic crisis like none the United States has seen in decades. Congress and the Federal Reserve Board published the regulations under the Truth in Lending Act.

Why? It’s simple. The government decided it was time to crack down on deceptive lending practices. There appeared to be a major need to protect consumers. The basic strategy here is to keep consumers more informed in an effort to boost confidence.

HOEPA: Home Owner’s Equity Protection Act. This act, originally passed in 1994, is designed to protect consumers from predatory lenders. It sets down rules and guidelines that were intended to help consumers make more sound judgments when deciding on a lender. The Housing and Economic Recovery Act calls for some stringent restructuring of this protective measure and it will change the way we all do business.

HVCC: Home Valuation Code of Conduct.
This is not a law, but an agreement based on the premise that faulty appraisals could be contributing to our economic crisis. HVCC became effective on May 1, 2009. It lays out some standard for appraisal:

Solicitation

Selection

Compensation

Conflicts of interest

Why should you care?
If you are involved in the real estate industry in any way as a real estate agent, broker, consumer, lender, appraiser, etc. – your real estate world has changed or will change soon. Processes, documentation, and oversight are just of the few changes you can expect.

HERA – Housing and Economic Recovery Act
Let’s look at the Housing and Economic Recovery Act first. To detail the entire Housing and Economic Recovery Act here would be pointless and you would surely be interrupted by someone (please, anyone) before you could get through it all. Suffice it to say that HERA is the avenue through which many reforms are traveling to correct a housing market gone terribly wrong. Among the goals of this act are those set out to make housing more affordable, end shenanigans played by some bad team players in every real estate related industry with heavier oversight and stimulate the market by boosting consumer and investor confidence.

May 1, 2009: HVCC – Home Valuation Code of Conduct Comes into Play
Already in place, the HVCC seeks more accurate appraisals by protecting professional appraisers who have complained about undue influence from many directions to adjust appraisals to meet others’ expectations rather than on the merits of the data they gather.

In short, HVCC requires that borrowers receive a copy of their appraisal reports a minimum of three days before ensuring that borrowers have sufficient notice of appraisal content by requiring that borrowers receive a copy of their appraisal reports no less than three days before their loans close. Borrowers can opt out – but why would they?

Again, this agreement is for loans that will likely be sold to Fannie Mae or Freddie Mac.

July 30, 2009 HOEPA – Home Owner’s Equity Protection Act Reforms Enforced
This act has been around a while, but reforms amend the Truth in Lending act and have many provisions such as the Mortgage Disclosure Improvement Act. Truth in Lending Act requirements are changing to give borrowers faster disclosures and final disclosures. It sets guidelines for exactly when certain loan processing fees can be collected.

What Does All of this Mean to the Borrower?·

A seven-day waiting period to review initial disclosures. If you are a home buyer financing property, these new guidelines could dictate your closing date. While purchase contracts can still be written with an estimated closing date, the regulations require a minimum of seven days between the time a borrower receives initial disclosures from the lender and closing.

A chance to review disclosures before you pay processing fees. A lender can’t collect upfront fees until the first disclosures are delivered. If a loan application is taken in person and disclosures are delivered at that time, the fees can be collected immediately. Prior to July 30, 2009, lenders can ask for upfront fees at the time of application before disclosures are delivered. (There is an exception in credit report fees. Lenders can still ask for that fee when you apply.)

A copy of your home appraisal in advance. A homebuyer has to receive a copy of his or her appraisal at least three days before closing. Homebuyers do have the option to wave the three-day requirement.

Time to review final Truth in Lending disclosures before you sign on the dotted line. Homebuyers have complained they were rushed into signing loans without really understanding the conditions. The new regulations require that borrowers receive a Truth in Lending statement at least three days before closing. This will give borrowers time to review costs associated with the loan without the pressure of a loan officer. If a borrower’s Annual Percentage Rate (APR) is increased by more than .125 percent from the time the initial TIL disclosure is delivered, the TIL disclosure has to be revised and delivered three days before closing.

My own alphabet soup is admittedly watered down in the interest of time – yours and mine. If you need help understanding the changes in these regulations, don’t hesitate to contact Prudential Utah Real Estate. Our professional associates will guide you through new rules and regulations that change the way we all buy and sell real estate.

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com.

Feds Fret Over Rising Short Sales: New Plan Promises Market Relief

2009-06-15T15:46:00.000-07:00

The National Association of Realtors says unemployment and plummeting housing prices across the nation have resulted in a sharp increase in short sales. We’ve covered the topic of short sales before but, in short (sorry, I couldn’t resist), a short sale is an agreement between the lender and the borrower whereby the lender agrees to accept less on a mortgage than is actually owed. Often the difference is forgiven by the lender. Sometimes, however, the original homeowner has to make arrangements with the lender to satisfy the total debt.

While it’s true that the nation is holding a yard sale of epic proportions right now, the onslaught of short sales is creating some problems for several industries and the Feds are fighting to keep up.

"The rapid increase in the number of short sales, and the short sales process itself present a number of challenges for REALTORS®," according to an article published by the National Association of Realtors on www.realtor.org. The nationwide organization of more than 1.1 million members says limited experience, an absence of a uniform process and application and multiple lenders have turned short sales into tall headaches for some REALTORS®.

Some REALTORS® are reportedly experiencing problems with unresponsive lenders. Documents that require many submissions are being lost and home value assessments are among the many difficulties short sale buyers face. More and more are getting frustrated and walking away.

In comes the Obama Administration with a Foreclosure Alternatives Program. This program, announced on May 14, 2009, actually establishes some serious incentives for participants who work together to promptly complete the short sale process including:

Servicers

Sellers

Second lien holders

The program establishes a timeline. That’s good news for sellers. Lenders are required to give homeowner a minimum of 90 days to sell a short sale home without threat of foreclosure.
Things get cloudy sometimes in a mad rush like the one we’ve seen in light of our recent financial situation. The new program requires a short sale agreement to spell out "reasonable and customary real estate commissions" and to identify exactly what costs will be deducted from the sale price. It also sets some ground rules making lower commission negotiations an absolute "no-no" once the agreement is signed.

Look, I’m no fan of red tape, but this program will create standardized documents and that could help. This program, again it’s called the Foreclosure Alternatives Program, is expected to launch in July.

If you need help understanding the short sale or foreclosure process, don’t hesitate to contact Prudential Utah Real Estate. Our professional associates will guide you through new rules and regulations that change the way we all buy and sell real estate.

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Joel Carson is president and owner of Prudential Utah Real Estate in Salt Lake City, Utah. For more information visit http://www.pureutah.com/.

Utah Housing Market Statistics are Telling

2009-05-27T22:28:00.000-07:00

Prudential Utah Real Estate Keeps a Close Eye on Market

The Utah Association of Realtors (UAR) recently released 2009 First Quarter Market Statistics. The news isn’t all bad, but I look for a significant improvement in 2009 Quarter 2 statistics, especially on the residential sales and purchases. It appears commercial property purchases and business investing may take a little while to show real signs of improvement.

Yeah, okay, I’m an optimist. But I don’t claim to be a soothsayer. I’m going with more than my gut on this one. I tend to rely a lot statistics gathered by the Utah Association of Realtors because it fascinates me to see the trends in various market areas throughout Utah. For example, the 2009 First Quarter Comparison against 2008 Fourth Quarter statistics (a long name, I know, but try to stay with me) shows a breakdown of sales and sales price averages county by county. This is especially helpful because over a period of time, we can begin to see where the market is rallying and where we still have some work to do. Of course, there are many factors to take into consideration and it’s no secret that the fourth quarter of 2008 was downright scary.

In a Financial Market Strategies report released by Wells Fargo Economics Senior Economist Scott Anderson, it was said, “The housing market is healing, not through the magic of some Federal program to modify loans or tax credits for new homebuyers . . . But because homebuilding is off more than 80 percent from its peak nationwide and is currently trending about 50 percent below what is needed to keep up with current household growth. Homebuyers are now snapping up foreclosed properties that are, in many cases, almost 50 percent below market prices of just a few years ago. Housing is truly affordable today!”

Anderson makes a positive prediction for a self-healing commercial market comparing it to a very sick patient that’s finally getting better. He said, “The fact that consumer demand is stabilizing and businesses have already cut so aggressively in Q1 raises the odds the economy will right itself by the third quarter of this year.”

Keep Up with Market Information
If you are a sales associate reading this, I implore you to get your hands on every set of statistics available and study them so you will be able to recommend proper home pricing based on facts. We owe it to our clients to be up to date on current market information. In the end, associates benefit from intense market research. Savvy real estate agents are critical today and it is those with reputations for being educated on current market conditions that will rise to the top in the end.

If you’re a home buyer or a home seller, seek out a real estate associate who is in tune with your market. At Prudential Utah Real Estate, we make it our business to know what’s going on in our front yard, our back yard and around the world.

Here’s What UAR Found in Its 2009 First Quarter Market Statistics -- Year Over-Year Comparison

Brigham/Tremonton Area
While the number of sales was down significantly from the first quarter of 2008 -- 108 sales in 2008 compared to 63 in 2009 -- the average sales price of those homes that did sell was up by 3.58 percent.

Cache/Rich Area
Again, the number of home sales was down -- 108 in 2008 compared to 145 in 2009 -- and we did see a -3.31 percent drop in average sales prices, $197,695 in 2008 compared to $191,158 in 2009.

Carbon/Emery Area
The number of home sales in this area was actually UP in 2009 by 9.09 percent -- 55 home sales in 2008 compared to 60 in 2009. Even the average sales price was up 1.15 percent. Carbon and Emery Counties made a strong showing in the first quarter with the average sales price being $125,492 in 2009 compared to 124,063 in 2008.

Central Utah Area
The Central Utah Area felt the sagging market with 15.15 percent fewer homes sold in 2009 than in 2008. Prices were down -7.71 percent with an average sales price of $126,870 in 2009 compared to $137,467. There were 33 homes sold in First Quarter 2008 and 28 homes sold in 2009. Remember, when fewer homes are involved, a few sales have a greater impact on the market numbers compared to markets where many more homes are sold. Still, the numbers are good indicators of a market’s overall health.

Davis County
In Davis County 708 homes sold in 2008 Q1 compared to 534 in 2009. That’s a 34.58 percent drop in sales. Home prices were down 4.65 percent with an average home sales price of $243,012. Condominiums sales were actually up -- 49 sold in Q1 2008 and 52 sold in 2009. This is an indication to me that people were more interested in more affordable housing options. The average sales price of condos was down by 7.82 percent with an average price of $169,880 in 2009. The drop in price and increase in sales tells me many people found the affordable housing they were looking for.

Grand County
Again, the percentage of homes sold might seem alarming with a reported drop of 9.09 percent. However, there were only 11 homes sold in Q1 2008 and 10 sold in Q1 2009. Wow. What a difference one sale makes! What’s interesting is the significant drop in average sales price from $317,636 in Q1 2008 compared to $267,000 in Q1 2008. Condo sales were down in Grand County too -- 17 in 2008 compared to 9 in 2009 -- with a 20.59 percent drop in sales prices. The average price of a condo in Grand County was $227,333 in Q1 2009.

Iron County
Iron County saw a whopping 31.39 percent drop in sales -- 137 in Q1 2008 compared to 94 in Q1 2009 -- the county was enjoying the last little bit of an unprecedented housing bubble in 2008, but was not immune to slowing market conditions all over the country. The average sales price in Iron County dropped by 13.12 percent. Condo sales were up, but prices were down, another indication that people were seeking lower cost housing. The average sales price for a condo in Iron County was $107,663, down 44.81 percent from 2008.

Juab County
Juab County was hit hard by the housing slump with a 70.59 percent drop in sales -- 17 in Q1 2008 compared to only 5 in Q1 2009. The good news is, the average sales price for a home in Juab County was up 29.42 percent in 2009 with an average price of $193,760.

Morgan County
Morgan County took a hit in sales and sales prices. Smaller sales numbers reflect greater impact in percentages. In Q1 2008, 9 homes sold compared to 6 in 2009. The sales price average in Morgan County dropped 35.34 percent with an average price of $212,333 in 2009.

Park City Area
Park City felt the squeeze when consumers tightened their purse strings. In Q1 2008 113 homes sold for an average sales price of $1,127,138. In Q1 2009, only 74 homes sold, but the average price was up by 8.56 percent. Condos took a hit in number of sales and sales prices with 136 condos sold in Q1 2008 compared to just 61 in Q1 2009. The average sales price of condos in this wealthy neighborhood was down 27.44 percent with an average price of $623,575 in Q1 2009.

Salt Lake County
Even Salt Lake County felt the housing market slump. High numbers of sales in Q1 2008 were answered with a 20.82 percent drop in Q1 2009. In Q1 2008, 1,820 homes sold compared to 1,441 in 2009. When you get higher numbers of sales, the average sales price tends to be a more accurate reflection of the actual trend because it’s not so easily swayed by the sale of a very high-priced or very low-priced home. The market showed only a 2.64 percent drop in average home sales prices in Q1 2009 at $279,544. Condo sales dropped by 34.27 percent -- 464 in Q1 2008 compared to 305 in Q1 2009 -- and the average sales price was down 6.20 percent with $180,684 being the average Q1 2009 price.

San Juan County
Rural communities seem to have been hit particularly hard as people braced themselves in an uncertain economy. Home sales were down from 11 in Q1 2008 to 7 in Q1 2009. The average sales price here remained quite steady with only a .08 percent drop in average prices in Q1 2009. The average sales price here is about $203,600.

Tooele County
Tooele County was hurting somewhat by the end of Q1 2009 with 138 sales in Q1 compared to 106 in Q1 2009. The average sales price of a Tooele County home dropped from $195,001 to $182,208.

Uintah Basin Area
The Uintah Basin Area saw a 55.76 percent drop in home sales from Q1 2008 to Q1 2009 with 165 homes sold in 2008 compared to 73 homes sold in 2009. Here’s an example of how higher pricing may have actually been a detriment to the number of sales as housing prices were UP by 7.35 percent in Q1 2009 with an average sales price of $207,207 in Q1 2009.

Utah County
Despite woeful worries coming out of Utah County, the effect on the number of homes sold in Q1 2008 compared to Q1 2009 was actually quite mild. Now, this is residential property we’re talking about here. The story on commercial property is quite different. In Utah County 715 homes sold in Q1 2008 compared to 702 homes sold in Q1 2009. The average sales price of a home only dropped .70 percent ending up at $263,207. Condo sales plummeted in this area with 186 sold in Q1 2008 compared to only 111 sold in Q1 2009. Prices were pretty drastically reduced to net the 111 sales this year with an average price reduction of 10.35 percent and the average sales price of a condo ending up at $153,412.

Wasatch County
Wasatch County home sales stayed fairly steady with only about a 6.82 percent drop in the number of homes sold -- 44 in Q1 2008 compared to 41 in Q1 2009. A significant 35 percent drop in average sales prices might account for the respectable number of sales. The average home price by the end of Q1 2009 was $314,412 compared to $483,726 in Q1 2008.

Washington County
Washington County in Southern Utah has been interesting to watch. Housing prices there soared and sales were going strong when America started to feel the economic downturn. What we’re seeing now is more affordable housing in Washington County and people are buying in with the promise of a market rebound. Home sales were UP by 8.08 percent in Washington County -- 334 homes sold in Q1 2008 compared to 361 sold in 2009. Sales prices were decreased slightly, 16.68 percent with an average Q1 2009 ending price of $262,032. Condos sales didn’t fare so well here. Washington county condo sales dropped 29.70 percent with a significant decrease in price of 29.54 percent. The average condo in Washington County will cost you about $127,241.

Weber County
We’ll wrap this up with Weber County on the north end of the state where home and condo sales have sagged compared to a booming Q1 2008 when 613 homes and 84 condos sold. In Q1 2009, 447 homes sold and only 41 (less than half of those sold the previous year) condos. Condo prices were up 6.03 percent at a Q1 2009 price of $139,490. Housing prices were down 3.19 percent when Q1 2009 ended at an average sales price of $183,224.

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About Joel Carson
Joel Carson is president and owner of Prudential Utah Real Estate, Utah’s largest real estate company. To find agents in tune with market conditions who can help you buy and sell property and fair market prices, visit http://www.pureutah.com/.

Americans Adjust to New Housing Market Rules

2009-05-21T11:52:00.000-07:00

Know what I love about Americans? We adjust. We have the ability to adjust to any situation. I just love that about Americans.

Mortgage rates have been slowly dropping to near historic lows over the past year to help get our economy stabilized. For some, the benefit of the low mortgage rates are somewhat tainted by the fact that lenders are holding tighter to their money and being a lot more careful about who gets it. More than 5 million homeowners are facing re-adjustments in their adjustable rate mortgages, according to Rick J. Klein, Mountain Summit Mortgage, LLC Sales Manager. That’s a clear indication that lenders must take a very close look at how and to whom they divvy out loans. It’s frustrating to some who counted on easy money a year or two ago. But we’ve clearly made some mistakes by loaning money willy-nilly without measuring the nationwide consequences to our economy.

And, so, we adjust.

According to Klein, rates on conventional 30-year mortgages now hover right around 5.10%, "but vary from day to day, and sometimes even hour to hour with many lenders."

You Better Shop Around

Klein recommends shopping around when looking for a new mortgage. The difference from one lender to another can have a significant impact on monthly payments and the money you shell out for a home over time.

Lenders’ mortgage rates can vary by as much as 1 to 2 percent.

Want to see what a difference 1 to 2 percent can make on your mortgage payment? Visit the Prudential Utah Real Estate mortgage calculator and play with the numbers. You’ll be amazed.

In addition to finding the right lender, you – your spending habits, your payment history, your lifestyle -- play a huge part in determining what kind of rate you will pay when borrowing money to purchase a home in any market, soft, hard, cold, hot, slow, fast. You get to decide.

Housing prices are low and there are many houses on clearance sale. But this won’t be the case forever.

A May 5 Wall Street Journal article reported by Brian Blackstone highlighted the good news and the bad news spewed forth by U.S. Federal Reserve Chairman Ben Bernanke recently. Blackstone summarized Bernanke’s May 5 speech saying, "The U.S. recession appears to be losing steam, with growth likely to resume later this year on the back of firmer household spending, a bottoming housing market and an end to inventory liquidation."

So, if you’re not ready to jump on the buying bandwagon now. It’s time to get your running shoes on and catch up to the bandwagon before the price of a ticket gets much higher and it drives right out of site.

It’s time to adjust.

1. Get your credit history in order. Despite which lender you choose to finance your home, your credit history and overall FICO score will have a huge impact on the interest you pay on borrowed money.

2. Start saving. Start socking away any money you can for a down payment. A sizeable down payment makes lenders feel more secure in the fact that you’re responsible, under control (and it doesn’t hurt one single bit for your lender to know there’s some equity built into a housing deal just in case).

All of this takes time, but there is still time to take advantage of this buyer’s market. With a good credit score, it may be easier than you think to borrow money.

Bernanke is all for the Fed pulling out all the stops to help the ailing U.S. economy. Bernanke can’t do it alone. We all have to play a part. It’s reasonable that banks and other lenders are holding Americans to a higher standard.

It takes time to build or rebuild credit and time is all you have. There are many creative options available to help get you into a house now if you’re willing to buckle down and make it happen for yourself. Owner financing is just one option that is becoming more and more popular.

Let Prudential Utah Real Estate help you find a way today. We can all work this out together.

Let’s adjust. You have the will and there is a way.

Technorati Tags: Utah housing market,credit score,mortgage,homeloan

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Joel Carson is President/Owner of Utah’s largest real estate brokerage, Prudential Utah Real Estate. Visit www.pureutah.com to find Northern Utah home listings and great information about buying or selling a home.

The Silver Lining of Our Clouded Economy: Utah Real Estate Opportunities Abound!

2009-05-06T16:14:00.001-07:00

Technorati Tags: Utah real estate,Northern Utah real estate,Utah housing market,Utah economy

Okay. Everybody just stop. I don’t mean to sound like Mary Sunshine here, but there are some positive opportunities in a negative economic climate. You just have to look for them. You just have to be able to seize the opportunities that present themselves. The future of our nation’s economy is in your hands. Every positive step of faith will lead to more and more steps. It won’t be long before we’re off and running stronger than ever.

A Deseret News story by Jasen Lee accurately reported today’s perception of Northern Utah’s commercial economy. The report was based on a recent Utah County commercial real estate conference. “Utah County has seen its retail vacancy rate jump 31 percent in 2008,” according to one expert.

Now, take off the dark colored glasses. Yes, it’s true that commercial vacancies have been steadily rising. Due to the state of the national economy, it was expected. The underlying concern is that businesses are shutting down, new businesses aren’t risking ventures, and too many good and talented people with no construction jobs are watching Nickelodeon and Judge Judy instead of building our state’s future. Yeah, okay. The worst thing we can do here is stop moving, stop growing, stop taking reasonable risks with potentially great business concepts.

Have you got your glasses off? Slip on a pair of rose-colored glasses and take a look at this with me. Read between the lines. Lee’s report also indicated that there are some pretty good deals on the table right now in Northern Utah for people with viable, established businesses and people with new business concepts pecking at the inside of the shell and dying to be hatched.

Looking for commercial retail space? Bottom line: It’s On Sale! There are some excellent deals to be made.

In a May 6, 2009 Bloomberg Press reported, “Fed’s Yellen Says Economy May Be Approaching ‘Inflection Point,’” by Vivien Lou Chen is cautiously optimistic.

“The U.S. economy may be approaching “an inflection point,” with reasons for optimism in rising consumer spending and falling business inventories, said Federal Reserve Bank of San Francisco President Janet Yellen.”

AXcess News in New York passed along Fed Chairman Ben Bernanke’s perception shared with lawmakers. He apparently told them the US economy should show signs of improvement later this year. Bernanke was quoted, “ ‘The pace of economic contraction may be slowing . . . But economic activity should turn up later this year.’ “

There are so many incentives available today to homebuyers, business owners and others that it makes perfect sense to take advantage of a clearance sale of epic proportions. Northern Utah property owners fill their empty spaces, sellers get out from under homes they can’t afford, motivated buyers get great deals on real estate that was once out of their reach and the gears of our economy begin to turn a little faster.

Positive thinking. That’s all I’m saying.

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Joel Carson is president an owner of one of Utah’s largest real estate companies, Prudential Utah Real Estate. Visit the Prudential Utah Real Estate Web site to see how you can take advantage of new opportunities.

Community Spotlight: Summer in Salt Lake City

2009-04-16T09:26:00.000-07:00

Well, sure -- Utah has the greatest snow on earth. Salt Lake City is surrounded by spectacular ski resorts and unmatched winter sporting venues made much greater when Salt Lake City hosted the 2002 Winter Olympics.

That having been said, let it be known that Utah doesn’t always snuggle beneath a thick blanket of “the Greatest Snow on Earth.” In fact, Salt Lake City, Utah features four distinct seasons celebrated with distinctly different events and activities.

Okay, it’s true. I’m in the real estate business. But even if I weren’t, Salt Lake City would be an easy sell for me.

I live in the Salt Lake City area because I enjoy a diverse community with a strong focus on family, the arts and – of course, outdoor recreation. In addition to fabulous winter sports conditions and venues, Salt Lake City is a hub of cultural events featuring everything from monologues to Broadway (were you one of the lucky few to score a ticket or two to ‘Wicked’?). Our enthusiastic audiences draw more and more fine arts events to Salt Lake City every year. Don’t discount our residents’ great taste in films. The Sundance Film Festival in Park City is an international draw and it just keeps getting bigger.

Salt Lake City features its own professional sports teams and all surrounding areas offer community recreation. Our city parks offer a variety of entertainment from picnics to outdoor volleyball while the mountains lend themselves perfectly to biking, hiking, hunting, fishing and photography.

If recreation’s not your thing and you are seeking a more “strictly business” environment, consider the fact that the Salt Lake City business scene is one of the best in the nation.

Now, we hate to brag, but check what others are saying about Salt Lake City.

Salt Lake City was rated #15 in the Nation out of the 100 Best Places to Live and Launch by CNN Money.
Forbes.com rated Salt Lake City in their top 10 of America’s Recession-Proof Cities.
Forbes.com rated Salt Lake City as #1 in the nation in their table of Best Cities for Jobs in 2008.
The Salt Lake City / Ogden area was ranked as the best place to live in North America in the sixth edition of Places Rated Almanac.
Entrepreneur magazine named the Salt Lake / Ogden area as the second best large city in which to locate a business.
Salt Lake City was named one of the top 25 "Wired Cities" in America by Yahoo! Magazine.
Fortune magazine listed Salt Lake third in its rankings of best cities in America for business.
Financial World rated Utah as the best fiscally-managed state in the nation.
Western Blue Chip Economic Forecast and American Demographics magazine refer to Utah as "one of the top three economies in the nation."
Newswatch has cited Salt Lake City as the number one city with the best environment for business.
Adweek magazine identified the city as "poised to become a city of the future."
Morgan Quinto Press named Utah as the fourth most livable state in the nation.

Buy Salt Lake City Real Estate Now

If you have ever considered buying real estate in Salt Lake City, your time has arrived. With federal and state incentives to homebuyers, and homes priced to sell in a slow economy, there are many opportunities at hand for all types of investors.
Contact Prudential Utah Real Estate today. Whether you are buying or selling Salt Lake City real estate, we’re here to help you every step of the way.