Archive for July, 2008

* Weekly Foreclosure Hotsheet (7/29/08)

Published July 29, 2008 * Hotsheets Leave a Comment
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*121 New Listings for the week of 7/29/08. List also includes all ’short-sale, as-is, and distressed owner’ properties.

Counties: Salt Lake, Utah, Davis, Weber, Box Elder & Cache Counties

For more info or to schedule a preview call 801-589-7288. You can also send your request to info@northernutahhomes.com
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mls # Price Bd/Ba SqFt Street City
819037 $1,799,000 7/7 9,221 TUSCALEE Draper
818870 $799,900 1/8 8,904 140 Orem
819644 $730,000 6/5 4,632 PEACOCK MIDGE Riverton
819557 $699,995 5/3 4,351 12100 Draper
819521 $689,900 6/4 7,280 TIMBERLINE Highland
820062 $679,900 5/4 6,349 SHEEPROCK Herriman
819717 $674,900 5/5 6,800 TUSCAN RIDGE Sandy
819060 $649,000 6/4 6,617 3500 Pleasant Grove
820266 $623,000 3/3 5,061 COLUMBUS Salt Lake City
819251 $559,879 8/5 6,481 1700 Sandy
819126 $550,000 5/4 6,200 HIDDEN HOLLOW Orem
820276 $549,900 11/7 9,920 CANYON Pleasant Grove
818849 $529,000 6/4 4,930 LAUREL HILL West Jordan
819324 $529,000 4/3 3,418 LYNWOOD Salt Lake City
819428 $522,900 5/4 4,096 LOVERS Riverton
819417 $500,000 4/4 5,604 MANDY LEE Herriman
819639 $500,000 3/2 3,690 EAGLE CREST Draper (UT Cnty)
820231 $500,000 5/3 4,300 5700 Washington Terrac
819872 $499,900 5/5 6,061 LONG RIDGE Herriman
820037 $499,900 4/3 2,962 1000 Salt Lake City
819493 $489,000 5/4 4,220 2100 Salt Lake City
819748 $466,900 8/5 7,272 MILE HIGH Provo
819812 $459,000 5/3 4,753 COMANCHERIA Draper
819001 $450,000 4/3 4,248 SHARONS Sandy
819104 $450,000 7/5 3,975 1300 Salt Lake City
820237 $450,000 8/6 5,650 HERITAGE HILLS Herriman
820274 $450,000 4/3 4,400 MEADOW VIEW Taylorsville
820290 $450,000 6/5 4,850 1060 American Fork
819736 $449,900 4/3 5,580 QUAIL RUN Lehi
820005 $449,900 4/4 4,724 SAWGRASS Cedar Hills
819991 $449,000 5/3 4,373 WYNDCASTLE Sandy
820049 $424,500 4/2 4,065 LANTERN Draper
819374 $420,000 6/3 4,720 BEECHWOOD Layton
819742 $419,900 3/3 4,949 QUAIL RUN Lehi
820252 $415,900 4/4 4,223 LAKOTA American Fork
819306 $415,000 4/4 5,338 ROLLING SAGE Saratoga Springs
819147 $411,000 3/2 3,712 4750 Hooper
818872 $399,900 5/4 4,184 HIGH MOUNTAIN Sandy
819591 $399,900 4/4 4,281 FARMVIEW South Jordan
819746 $389,900 4/3 3,881 BRIGHT WOOD Herriman
818885 $376,900 5/3 4,771 700 Orem
819784 $370,000 3/3 3,694 SIGGARD Salt Lake City
819195 $363,000 4/3 4,510 EVERGREEN PARK Huntsville
819276 $351,900 6/4 3,910 1630 South Jordan
820270 $350,000 4/3 3,408 OAK VISTA Draper
818934 $334,900 5/3 4,420 EVENING SIDE Herriman
818960 $333,000 3/4 4,620 LILAC Saratoga Springs
819391 $325,000 4/3 2,825 1590 Lehi
820085 $325,000 3/3 4,453 COPPER ROSE South Jordan
818868 $324,800 3/3 3,347 KIT FOX Saratoga Springs
819621 $314,900 5/4 2,882 2600 Lehi
820116 $299,000 5/4 3,164 SUNDEW West Jordan
820142 $298,888 4/2 3,257 REGALSTONE South Jordan
819862 $289,900 4/3 3,517 AVONDALE Cedar Hills
819796 $285,000 3/3 3,893 KIT FOX Saratoga Springs
820267 $279,900 4/3 3,408 OAK VISTA West Jordan
819629 $274,500 4/2 2,938 MORNING LILY West Jordan
818881 $270,000 3/3 1,903 ELSBROOK Draper
819908 $270,000 5/2 3,194 HARVEST MOON South Jordan
819752 $269,000 5/2 2,446 FAIRHAVEN Murray
819588 $265,000 3/1 1,198 WOOD Salt Lake City
818909 $250,000 3/2 3,056 FIELDING HILL Draper (UT Cnty)
819356 $239,900 4/2 2,064 300 American Fork
820291 $230,000 3/1 2,444 MAIN Bountiful
818883 $224,900 5/3 2,184 JAMAICA Murray
819734 $220,000 5/4 3,431 1200 Orem
819893 $219,900 3/1 1,492 VALLEY Murray
819903 $219,900 4/2 2,605 3900 Salt Lake City
819434 $207,900 5/2 2,150 1300 Bountiful
819117 $207,000 4/2 2,103 3180 West Valley City
819443 $205,000 6/2 3,030 3800 West Valley City
818972 $204,900 4/2 2,628 2650 Clinton
819123 $202,600 5/3 2,377 WING POINT Magna
819487 $200,000 2/2 2,044 VINE Murray
819226 $199,900 4/3 2,025 360 Clearfield
819650 $199,900 5/4 2,081 875 Clearfield
819902 $199,900 3/2 1,700 8475 Sandy
820162 $199,900 5/2 2,844 MAIN Orem
819004 $196,000 3/3 2,926 SHALLOW WATER Eagle Mountain
819062 $195,000 3/2 1,776 MC CALLAN Murray
819535 $191,000 5/2 1,824 SHADOW PARK Salt Lake City
818925 $189,900 4/2 2,076 MORTON Salt Lake City
819108 $187,000 4/3 2,181 SNOWY OWL Eagle Mountain
819494 $185,000 4/2 1,892 WOODSBOROUGH Kearns
819899 $185,000 4/2 1,728 540 Sandy
820029 $184,900 0/6 1,802 375 Harrisville
819614 $180,000 3/2 2,087 SUNRISE Saratoga Springs
819718 $180,000 3/2 1,992 3500 West Valley City
819678 $175,000 3/2 1,200 NAVAJO Salt Lake City
819716 $175,000 3/2 1,200 NAVAJO Salt Lake City
819440 $169,999 4/3 2,240 5120 Kearns
819466 $169,900 2/2 2,358 VINE Murray
819624 $169,900 3/2 1,232 JEPSON Salt Lake City
819566 $168,000 4/2 2,732 2150 Roy
819914 $165,120 5/2 1,976 BROOKSIDE Springville
819909 $165,000 5/2 2,100 100 Santaquin
820129 $160,000 2/2 1,290 HIGHLAND Salt Lake City
819728 $159,900 3/3 1,969 CROSS Ogden
820209 $158,900 4/2 1,938 5600 Roy
819441 $150,000 4/2 2,000 1800 Clinton
819419 $149,900 4/2 1,492 SIR PHILIP Salt Lake City
819816 $149,900 4/2 1,922 SIR PHILIP Salt Lake City
819721 $143,900 1/1 756 8900 Magna
819517 $142,900 3/2 1,454 ROCKWOOD West Valley City
819102 $139,900 3/1 1,180 225 Layton
819151 $139,000 4/1 1,600 1600 Orem
819101 $137,000 3/2 1,266 TESS West Valley City
819107 $133,000 4/2 1,850 KIMBALL Layton
819382 $129,900 3/1 1,548 5740 Kearns
820168 $125,900 5/4 3,530 1400 Woods Cross
818899 $124,000 4/1 1,403 900 Salt Lake City
820021 $119,900 4/1 2,600 MADISON Ogden
819189 $119,000 3/2 1,250 EL CAJON Salt Lake City
820109 $113,900 3/2 1,746 MAIN Hyrum
820036 $109,500 3/1 2,184 LIBERTY Ogden
819345 $100,000 3/1 1,291 TYLER Ogden
819712 $95,000 2/1 922 EUCLID Salt Lake City
820180 $94,900 2/1 910 36TH Ogden
819883 $92,900 2/2 1,536 8560 Magna
819847 $92,000 2/1 1,026 EUCLID Salt Lake City
819427 $79,000 1/1 810 WEST TEMPLE Salt Lake City

Source: Wasatch Front Regional Multiple Listing Service

* Weekly Foreclosure Hotsheet (7/22/08)

Published July 22, 2008 * Hotsheets Leave a Comment
Tags: , , , , , , , , , , , , ,

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*150 New Listings for the week of 7/22/08. List also includes all ’short-sale, as-is, and distressed owner’ properties.

Counties: Salt Lake, Utah, Davis, Weber, Box Elder & Cache Counties

For more info or to schedule a preview call 801-589-7288. You can also send your request to info@northernutahhomes.com
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mls # Price Bd/Ba SqFt Street City
817026 $3,500,000 2/2 4,084 3350 Liberty
817368 $1,000,000 2/3 2,215 COTTONWOOD Salt Lake City
817940 $899,000 4/5 6,818 WALDEN Draper
817554 $885,000 5/3 6,382 HOLLOW CREEK Draper
817046 $865,000 5/5 6,021 MOUNTAIN Salt Lake City
817092 $750,000 6/5 7,418 3700 Provo
818729 $650,000 4/2 4,849 ASHLAND Herriman
818735 $620,000 5/4 5,024 BRIAR PARK Herriman
817938 $599,000 4/5 5,216 WALDEN Draper
818487 $589,900 6/4 5,492 1510 Orem
817978 $579,900 4/4 4,966 RIVEROAKS Sandy
817592 $575,000 3/3 5,831 2000 Lehi
818450 $569,900 8/6 5,963 SUNRISE Orem
817330 $559,900 6/5 5,170 BORDEAUX Alpine
817398 $550,000 3/3 5,624 CRESTWOOD Pleasant Grove
817769 $550,000 5/4 4,400 475 Centerville
817937 $549,900 11/7 9,920 CANYON Pleasant Grove
817647 $538,900 6/4 5,548 RUSTIC HILL Herriman
818670 $529,000 4/3 5,379 RIVER VIEW Bluffdale
816989 $525,000 4/2 2,815 OAKRIDGE Salt Lake City
818357 $499,777 4/3 4,724 ROSE WILLOW Herriman
818026 $499,000 4/3 5,795 SEVEN OAKS Draper
818152 $490,000 4/3 4,817 10305 South Jordan
817755 $489,900 5/4 4,542 WIDE HOLLOW Herriman
817956 $479,900 6/3 6,016 ROCKY MOUTH Draper
817134 $475,000 4/4 4,377 ALTA CREEK South Jordan
817684 $469,900 4/3 3,713 CRYSTAL SPRIN Draper
817581 $450,000 3/4 4,813 3715 Riverton
818500 $445,000 5/4 6,700 6690 Highland
817943 $439,900 3/2 3,656 EMMELINE Herriman
817032 $425,000 4/3 2,837 LITTLE COTTONW Sandy
818736 $425,000 5/4 3,924 FREEDOM HILL Herriman
817250 $399,900 5/4 4,697 1350 Pleasant Grove
817760 $399,000 4/4 4,281 WIDE HOLLOW Herriman
818326 $399,000 3/3 4,461 RUSTIC HILL Herriman
817312 $395,000 8/3 4,450 ALVERA Holladay
818207 $395,000 3/1 1,781 300 Salt Lake County
817800 $390,000 4/3 4,150 1000 Bountiful
818238 $389,000 5/4 4,300 1700 Sandy
818260 $378,800 4/2 3,766 ROSE SUMMIT Herriman
817344 $369,000 3/3 3,979 SIERRA Layton
817043 $365,000 4/3 3,873 WINDLASS Saratoga Springs
817403 $359,900 4/3 4,430 2075 Layton
817197 $354,900 4/3 4,111 MEADOWSIDE Saratoga Springs
818125 $354,900 4/3 4,926 RED LEAF Draper
817757 $354,550 3/3 3,767 MAVERICK Saratoga Springs
818457 $352,000 5/3 3,710 WASATCH Sandy
817112 $350,000 5/3 3,448 SUMMERFIELD Sandy
817249 $349,900 4/4 4,185 1100 Spanish Fork
818108 $349,000 2/2 3,680 1920 Orem
818468 $345,500 4/3 3,707 340 American Fork
817550 $345,000 3/2 2,070 TREE VIEW Holladay
818442 $345,000 4/3 3,010 3835 Salt Lake City
817983 $334,900 4/3 3,800 LANA Draper
817754 $325,000 4/2 4,600 370 Santaquin
817881 $323,900 4/3 4,215 PATRIOT HILL Herriman
818633 $310,000 4/3 3,948 SIERRA Layton
817155 $304,900 6/3 3,699 SCHOONER Saratoga Springs
817200 $299,900 3/2 3,876 DESERT SAGE Herriman
817717 $299,900 4/4 4,829 PADDOCK Kaysville
818028 $299,900 5/5 5,831 MAIN Smithfield
818608 $299,900 3/3 3,530 CARNOUSTIE Herriman
818015 $295,000 5/3 3,876 270 Salem
818528 $295,000 3/3 3,266 1400 Spanish Fork
817750 $289,900 3/2 1,676 FIFTH Salt Lake City
817885 $289,900 4/1 1,688 COMMONWEALT Salt Lake City
818292 $289,900 4/3 3,234 CHESTNUT Lehi
818401 $289,000 6/4 3,572 SKYE South Jordan
818063 $280,000 5/2 2,840 SACAJEWA Herriman
817498 $279,900 3/3 3,200 DEGRAY South Jordan
818016 $279,900 5/3 3,678 SKY VIEW Layton
817902 $279,000 4/3 2,779 OGDEN Ogden
817236 $275,000 6/3 3,202 2450 Clinton
817979 $274,900 7/4 4,504 850 Layton
817574 $274,000 3/3 3,322 WISTERA Saratoga Springs
817547 $270,000 4/2 1,727 TREE VIEW Holladay
818794 $269,900 5/3 4,098 WHEATRIDGE West Jordan
817620 $269,000 3/3 3,430 COLUMBINE Saratoga Springs
817657 $268,000 3/3 2,802 7025 West Jordan
817766 $264,900 4/2 1,960 2000 Salt Lake City
818593 $264,900 5/3 2,378 BROOK HOLLOW West Valley City
817412 $255,000 4/3 2,900 950 Springville
818631 $254,900 3/2 3,300 4050 Syracuse
817362 $250,000 3/3 2,318 SUN TEA South Jordan
817542 $250,000 5/4 3,048 CANTERBURY Logan
817791 $250,000 5/3 3,220 1300 South Jordan
818558 $250,000 4/1 2,128 900 Salt Lake City
817601 $249,900 4/3 3,366 GALLOWAY Davis County
817624 $249,900 5/3 4,832 MOHAWK Ogden
818220 $240,000 3/3 2,000 LAKE RUN South Jordan
818509 $239,900 1/1 1,113 EVERGREEN Salt Lake City
818741 $238,000 5/3 2,368 8230 West Jordan
818254 $229,900 2/2 1,300 REED Salt Lake City
817946 $225,600 4/3 3,630 4350 Syracuse
817353 $225,000 3/3 2,084 INVERGARRY Draper (UT Cnty)
818747 $220,000 4/3 2,495 CAPITOL Salt Lake City
818775 $220,000 3/2 1,872 BURR Magna
817996 $219,900 5/3 2,736 PEAR Saratoga Springs
817898 $219,000 4/3 2,076 LAKEVIEW Lehi
818634 $215,000 6/2 3,754 2825 Layton
818692 $214,900 3/2 2,902 4300 West Valley City
817261 $213,500 3/2 2,840 225 North Ogden
817729 $209,900 4/3 2,456 225 Providence
818592 $204,900 2/1 1,125 PASCHAL Salt Lake City
818606 $204,900 2/1 1,125 PASCHAL Salt Lake City
818279 $199,777 2/2 2,180 ZIRCONIUM Magna
817549 $199,000 5/3 3,000 4400 West Valley City
817633 $194,900 4/2 1,852 PACIFIC American Fork
817133 $190,000 0/0 2,230 BONNIEWOOD West Valley City
817388 $189,900 3/2 1,704 KAPFORD West Valley City
818091 $189,900 3/1 1,100 565 Murray
818083 $186,900 4/2 1,844 3200 West Valley City
817689 $180,000 5/3 2,380 4300 Salt Lake City
817427 $179,900 3/3 2,333 KENNEKUK Eagle Mountain
818001 $179,900 2/1 2,072 3965 West Valley City
818630 $179,900 3/2 2,982 CEDAR BREAKS Taylorsville
818076 $178,000 4/2 1,750 RED BLOSSOM West Valley City
818484 $174,900 3/2 2,102 CEDAR TRAILS Eagle Mountain
816962 $170,800 4/2 2,172 JEAN Magna
818289 $170,000 4/2 1,920 SUNRISE Eagle Mountain
817456 $169,900 3/3 1,786 MIDLAND Roy
817138 $169,000 4/2 1,344 WOOLLEY Magna
817714 $169,000 4/4 3,150 MADISON Ogden
817797 $169,000 4/3 1,883 425 Clearfield
818029 $167,382 3/1 1,374 1200 Provo
817515 $165,000 2/2 820 STRATFORD Salt Lake City
818306 $164,900 4/2 1,960 500 Clearfield
817475 $160,000 4/2 2,070 1725 Layton
816927 $155,000 5/2 1,408 SUNBURY Salt Lake City
817067 $149,900 3/1 958 100 Orem
817559 $144,000 3/2 1,040 300 Springville
817385 $140,000 5/2 2,076 700 Tremonton
817994 $139,900 2/2 1,062 100 American Fork
817692 $129,900 2/1 924 3100 Salt Lake City
818106 $129,900 3/1 1,760 BISHOP West Valley City
816926 $125,000 2/1 750 STRATFORD Salt Lake City
818247 $125,000 2/1 796 STRATFORD Salt Lake City
818570 $125,000 3/1 1,036 5500 Kearns
817311 $124,900 2/1 1,030 300 Salt Lake City
816932 $115,000 2/1 692 STRATFORD Salt Lake City
817291 $112,900 3/1 1,570 KATHERINE Magna
817044 $110,000 5/2 2,800 12TH Ogden
816939 $109,000 1/1 660 STRATFORD Salt Lake City
817988 $94,800 3/1 996 800 Salt Lake City
817473 $89,000 3/1 1,064 VAN BUREN Ogden
817615 $82,500 3/2 1,612 CHILDS Ogden
817892 $79,995 1/1 666 900 Salt Lake City
818809 $79,900 2/1 1,422 RUSSETT West Valley City
817435 $72,750 4/2 2,080 QUINCY Ogden
817182 $70,900 2/1 1,259 300 Garland

Source: Wasatch Front Regional Multiple Listing Service

* Real Estate Auctions in Utah

Published July 21, 2008 * Buying , * Real Estate Information 2 Comments
Tags: , , , ,

Buying a home can be an emotional roller coaster ride all on it’s own.  Throw in a gavel, a fast-talking guy behind a microphone, and several people all wanting the same property and you might just lose your lunch.

Since the peak of the housing market, real estate auctions have been gaining popularity.  Banks all across the country are relying on this form of marketing to liquidate inventory of homes that have been foreclosed. 

Selling real estate by way of auction allows the seller to control aspects of the sale not found by conventional means.  Aspects like;

  • > the date and time a property will sell,
  • > the amount of earnest money a buyer must put up,
  • > the number of days allotted to close,
  • > and even the seller’s willingness to make or not make repairs. 

However, the one thing that the seller does not control in these types of sales, THE PRICE.

Here in Northern Utah, real estate auctions have also been gaining popularity.  Recently, a local bank put up over 50 properties on the auction block.  Many of them were new homes, some of which were only partially finished.  The balance were high-end building lots and undeveloped land.

Williams Auction, a national real estate auctioneering company, has also sold a fair share of properties here in Utah.  Currently, they have 5 homes listed along the Wasatch Front and one in Southern Utah.

Click the links below to view individual listings.

  1. Draper
  2. Salt Lake City
  3. Saratoga Springs
  4. Midway
  5. Alpine
  6. Kanab

In addition, local home-owners and investors have been experimenting with the auction method to sell their properties.  You can find these listings by searching local newspapers, ksl.com classified ads, or contact a local broker versed in real estate auctions.  Or, if you would like to receive updates on local real estate auctions through my newsletter, submit your request here.

Buying a home at auction has it’s benefits.  For example, it’s very possible that you could buy a property at a deep discount.  However, it’s important that you do your homework first.  Probably the two most important things you should do before buying a property at auction are:

  1. Read and understand the “Terms & Conditions” thoroughly
  2. Inspect the property and Research the Title Report

Actually, it’s best if you contact a real estate agent to help you with this process.  Most auction companies will compensate agents and brokers who represent buyers at their auctions.  It won’t cost you extra, in fact the auctioneer will charge you the ”buyer’s premium” whether you use an agent or not.

The ”buyer’s premium” is a fee, which is added to the final high bid price.  Typically between 5-10 percent of the bid.  This fee covers marketing costs, auction expenses, broker fees etc.  The amount however will not fluctuate based on if you have an agent on your side or not.

Also important to understand is whether or not the property being auctioned has a “reserve price”.  A reserve price is an undisclosed amount that the seller has set.  If the high bid does not meet the seller’s reserve price, then they are not obligated to sell.

If the property is being sold “absolute”, then the seller has agreed to sell the property regardless of what the high bid amount is.

* Pioneer Day Events & Fireworks Shows

Published July 19, 2008 * Community Leave a Comment
Tags: , ,

Though it may not be the most celebrated Holiday in America, Utah’s Pioneer Day puts big smiles on many local faces.  Fireworks Shows and Pioneer Day events will be going on all along the Wasatch Front this coming weekend.

Source: Deseret News

Beaver County

Beaver:  Thursday — 6:30 a.m., registration for 5K run/walk ; 9:30 a.m., parade on Main Street; 11 a.m. to 1 p.m., dinner in the city park, kids games; 1-4 p.m. free swimming at city pool; 2 p.m., horse races, Lion’s Club racetrack (also on Saturday); 8 p.m., Clegg’s rodeo (also on Friday) cost: $7 adults, $3 children; 9:45 p.m., fireworks at new city baseball complex. 888-848-5081.

Cache County

Logan:  Thursday — 7-10 a.m., 5th Annual Lions Club pancake breakfast. Willow Park, 500 W. 700 South, $5 adults, $2.50 children; 8 a.m., King and Queen Beach volleyball; 9 a.m., horseshoe tournament; 10 a.m., 12th Annual Youth Rodeo, Logan/Cache fairgrounds; noon, Pioneer Day Parade, from Center St.; 1 p.m., wagon rides by Joe Archer; candy cannon every hour on the hour from 1-4 p.m.; 8 p.m., Imagine — Remembering the Fab Four; dusk, fireworks. All events at Willow Park unless otherwise noted. See: www.loganutah.orgwww.loganutah.org or call 435-716-9250.

North Logan: Thursday — 6:45 a.m. flag ceremony. 7 to 9 a.m., breakfast, Elk Ridge Park, $4 per person or $16 immediate family; 10 a.m., parade, 1600 E. 2100 North; 11 a.m. to 2 p.m., games, entertainment, food, Mt. View Park; dusk, fireworks at Elk Ridge Park, 435-755-7147.

 Davis County

Layton:  Thursday — 4-7 p.m., Taste of the Town, Layton Commons Park, 465 N. Wasatch Dr. $7. Sample food from the best restaurants in town and enjoy the band “Full Circle.” Tickets at Layton Hills Mall; 8 p.m., “Riders in the Sky” free concert, Kenley Amphitheater, 455 N. Wasatch Dr. 593-2200.

Salt Lake County

Cottonwood Heights:  Thursday — 7 a.m., Butlerville Days, Family Historical mile bike ride from Guthrie Skate Park, adjacent to Butler Park, 7500 S. 2700 East; 4 p.m., parade followed by rides, games, bouncehouses, face painting, sack races, free watermelon; 6:45 p.m.; pie-eating contest 7:30 p.m.; sand castle competition (judging at 8:45 p.m.); bands, entertainment, fireworks at dusk. Call 545-4160.

Liberty Park: Thursday — Deseret News race and parade end at the park; 7 a.m. to dark, Native American celebration, community cultural festival, food, arts and crafts booths, entertainment and free powwow. Free admission, tennis center is closed, pool is open, fireworks at dusk. Call 972-7800.

Salt Lake City: Thursday — 7 a.m., Sunrise Service, LDS Tabernacle, featuring a 300-voice choir led by Sterling Poulson. Free admission; 5:30 a.m., Deseret News/KJZZ Marathon 10K/5K Fitness Walk; marathon starts at the top of Big Mountain above Emigration Canyon; 6 a.m., 10K starts at Research Park, 500 S. Wakara Way, on the University of Utah Campus; 7 a.m., “I AM THE FUTURE” 5K Walk begins at the EnergySolutions Arena, 301 W. South Temple; 9 a.m., Days of ’47 parade starts at South Temple and State Street, goes east to 200 East, south to 900 South, then east to Liberty Park; 9 a.m.-5 p.m., Pioneer Heritage Festival starts on the 24th through the 26th at 9 a.m. to 5 p.m. at This Is the Place Heritage Park, 2601 E. Sunnyside Ave. (800 South).

West Valley City:  The Osmond family joins the Mormon Tabernacle Choir for a concert July 25-26 at the Conference Center on Temple Square. Tickets are free but required. See: www.lds.org/events or call (801) 570-0080 (local) or at 1-866-LDS-TIKS. Thursday — 10th Year Samoan Heritage Festival, Centennial Park, 3100 S. 5600 West, includes special events such as cultural dances, musical artists and entertainment, youth educational workshops, cultural workshops, exotic arts & craft exhibits, cultural competitions, Miss Teen and Miss Samoa Utah Pageants, cricket and rugby tournaments, display and exchange of exotic foods, and special activities for all ages. See www.islandbeats.com or call 801-637-4143 or 801-759-8037.

 Utah County

Cedar Fort: Thursday — noon, parade, Main Street; lunch and carnival on the church lawn after the parade.

Cedar Hills: Thursday — 7:05 p.m., Night With the Orem Owlz at Utah Valley University, tickets available at the city offices, $5 (includes hot dog and drink) $3 chair only; Friday: 6-9 p.m., dinner and outdoor movie, Heritage Park pavilion, 4450 W. Cedar Hills Dr. followed by activities in park. Saturday: 9 a.m., parade. Many events in Heritage Park, 4450 W. Cedar Hills Dr., includes carnival, BMX bike show, Wizard of Oz, water cannon events, cake-eating contest, fireworks. See cedarhills.org

Spanish Fork: Thursday — 6:30 a.m., 31st Annual Intermountain Healthcare Speedy Spaniard 10K Road Race and Walk, starts at Canyon View Park, 3300 E. Powerhouse Road; 7-10 a.m., Spanish Fork Football Booster Club breakfast, city park. $15/family, $5 and $3 children; 7:30 a.m., 14th Annual 1 Mile Children’s Speedy Spaniard Fun Run, northeast corner of city park (100 East Center); 9 a.m., Grand Parade, from 900 East, west on Center; 9 a.m.-6 p.m., craft fair, city center; DUP Museum exhibits and baby quilt sale, Utah Pioneers Museum, 400 N. Main; Art Show, front of library after parade; 11:30 a.m.-1:30 p.m., Miss Spanish Fork 2008 Royal Tea, Primrose Retreat (978 E. Expressway Lane); carnival; outdoor quilt show, Jones-Hughes Pioneer Park, 143 S. Main; 4th Annual Fiesta Day’s Adopt a Duck River Race, Spanish Fork river; water park open 1-6 p.m.; bands, entertainment at City Park; 4 p.m. and 7:30 p.m., Spanish Fork Community Theater’s “Oklahoma!”, 8 p.m., rodeo, fairgrounds; fireworks follow. See: www.spanishfork.org. or call 801-798-5068.

Orem: Thursday — 8 p.m., ABBA Live! concert, SCERA Shell outdoor theater, 699 S. State. See: www.scera.org. Call 801-225-2787.

 Washington County

Washington City:  Thursday — 9 a.m., parade starting on 300 East; movie in the park “Last Flight of Noah’s ark,” fireworks at dusk at city ballfields. See: www.washingtoncity.org.

 Weber County

Ogden:  Thursday — 9 a.m., Ogden Pioneer Day parade, Washington Blvd.; 11 a.m., chuckwagon lunch, Ogden Municipal Garden; 6:30 p.m., pre-rodeo, Ogden Pioneer Stadium, 668 17th St., 7:30 p.m., Pioneer Days rodeo and Miss Rodeo Utah coronation, Ogden Pioneer Stadium. See: www.ogdenpioneerdays.com or call 801-629-8217.

 

* Northern Utah Real Estate Market, 2nd Qtr 2008

Published July 18, 2008 * Utah Real Estate Market & Statistics Leave a Comment
Tags: , ,
 
Single Family Homes
County Avg Sales Price % Change/’07 # of Sales % Change/’07
Salt Lake $293,995 -1.8% 2,572 -28.4%
Utah $270,146 -8.6% 980 -28.8%
Davis $254,366 -4.1% 859 -25.8%
Weber $190,852 4.4% 812 -30.4%
Box Elder $177,721 1.6% 138 -22.9%
Cache $202,342 6.4% 276 -23.3%

Second quarter statistics show that home prices have slipped in Salt Lake , Utah and Davis County.  And the number of actual home sales is still down significantly in all counties along the Wasatch Front.  Ok, so this may not be a shocker to most of you, but how about this: 

I expect home prices to tumble even further in the hardest hit, most over-built pockets by as much as 20% by mid 2009.  I’m referring to newer neighborhoods where prices are well over median levels.  Where the homes are larger, more expensive and increasingly becoming more vacant as the weeks go by.

I’m basing my prediction on several key factors including:

  • Front Line Observations:  As a real estate agent, I see the market on a micro level.  I draw conclusions based on conversations, observations and reactions.  I’ll give you an example.  Over the last 30 days I’ve worked with three different sets of buyers, all of whom seem to be very market concious.  Their decisions seem to be based heavily on how the purchase makes sense financially.  Whereas in the past home-buyers tended to be more implusively driven by their emotions and desires.  Today, these market concious buyers are looking to buy smart.  As one buyer put it, “I want to buy something that if I had to, I could sell in the next couple of years without a problem”.  This is the very reason many homebuyers are looking to foreclosure and short sale listings first.  Which brings me to my next key factor.
  • Distressed Sales:  The number of short sales coming on the market is rising at a scary rate.  Many are selling, however a majority are being lost to the bank.  Bank foreclosures are also beginning to make their claim on the inventory of homes for sale.  As banks discount their prices to move inventory quickly, neighboring home values are immediately and directly impacted.
  • Credit Availability:  or the lack therof is probably a better intro.  If you haven’t heard about the recent devastations in the banking sector it’s likely you haven’t turned on your tv, made small talk at the office, or glanced at a newspaper in the last 2 weeks.  Unfortunately, it’s not just national news.  Local banks are also seeing stock prices fall and defaults on mortgage loans rise.  Home loans are quickly becoming harder to qualify for.  Not to mention the fact that banks are requiring borrowers to bring more and more money to the closing table.  This ultimately results in fewer sales.  Mainly because would-be borrowers can’t meet new requirements and are being squeezed out of homeownership.
  • Inflation:  Pretty much everything you buy on a regular basis has seen at least a modest price hike.  Consumers have already begun to tighten up their budgets and cut unnecessary expenses.  Spending dollars on extravagant homes is not high on the priority list for most Utahns at this point.

All in all, things are getting tougher for buyers and sellers.  For those who wish to purchase a home in the near future, prepare yourself to be examined under a magnifying glass in order to qualify.  For those of  you who are trying to sell a home, expect to see less than full price offers as buyers are seeking to position themselves strategically in today’s rapidly changing market.  Obviously, I’m generalizing here.  But be assured, everyone is being impacted in today’s market, one way or another.

 

 * Statistical data gathered from the Wasatch Front Regional Multiple Listing Service.

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