Third-Quarter Single Family Housing Statistics are In

Utah housing stats directly impact the state's economy.

Statistics are great, aren’t they? Now, I’m no master mathematician, but I like to see numbers that make me feel good. Lately I’ve actually been looking forward to end-of-quarter Wasatch Front housing reports with great anticipation. Things are looking up. They keep looking up and I’m hopeful for the future.

Existing single-family home sales are up all over the nation, according to a report released by the National Association of REALTORS®. The beautiful Utah Wasatch Front housing market is making progress. Existing home sales here on “The Front” climbed 4 percent during the 2009 third quarter compared to sales during July, August and September last year. Let’s just not talk too much about last year. It gives me a headache just to think about it.

The information I’m about to share with you is being reported by NAR and the Salt Lake Board of REALTORS® along with the Utah Association of REALTORS®.

This year is the first time in four that home sales have shown a year-over-year increase. There are many factors weighing in here. The Federal government’s first-time homebuyer tax credit, Utah’s Home Run grants for buyers of newly constructed homes (later expanded to more home buyers), and of course the simple economics of supply and demand.

As people fell victim to job losses, lower wages, increased fuel and food prices, and all the mayhem that comes with a caving economy, they began to lose their homes to foreclosures. Many opted for short sales in lieu of foreclosure (a good option, I might add, at a time when no options are really great). Discounted homes flooded the Utah housing market – right in line with the rest of the nation – and eventually non-distressed home sale prices tumbled to keep up. Finally, sellers became motivated and buyers were just plain moved by some awesome investment opportunities.

The last time home sales increased in a year-over-year comparison for the third quarter was in 2005. Salt Lake Board of REALTORS® President Ryan Kirkham is impressed with the demand and is cautiously optimistic that the existing home market reached its bottom and is bouncing back up, according to an SL Board of REALTORS® report.

The averages give me a warm, fuzzy feeling. But, I’m waiting to see if the Feds really do turn off the first-time home buyer tax credit. I’m waiting until all local stimulus grants go away to see if the housing market will actually breathe on its own. Governmental life support can only sustain us for so long. The nation’s economy is complex and Wall Street has a direct bearing on Utah home sales, as do a plethora of other global factors too lengthy to list here.

The Wasatch Front Saw Some Significant Increases (and Some Disappointing Decreases)

In Davis, Salt Lake, Tooele, Utah and Weber counties, 5,608 single family homes sold in the third quarter. Last year 4 percent fewer homes sold in the same quarter. As a whole, the Wasatch Front is looking good.

Davis and Utah counties made a great showing in single-family home sales statistics. Single-family home sales were up a whopping 9 percent in the third quarter.

If you look at Utah County statistics alone, you’ll witness an impressive 14 percent year-over-year increase. Utah County really needed that boost. Jobs are increasing in Utah county and that has helped the economic situation overall. Utah County’s housing market also took a hard, hard hit last year and the market desperately needed a major correction.

While I like to be the bearer of great news. It’s only fair to note some counties did see a drop in third quarter sales. Lumped in with counties that had gains, the averages aren’t too bad. Individually, Salt Lake County, Tooele County and Weber County “have some ’splainin’ to do.”

Salt Lake County sales in the third quarter were down 1 percent. Tooele County single-family home sales dropped 14 percent. Weber County lost about 7 percent in sales volume compared to 2008.

Median Sales Prices Drop
In comparison to third quarter prices in 2008, 2009 median single-family home prices dropped across the board.

Here are the numbers as reported by the National, Salt Lake and Utah boards of REALTORS®.

Salt Lake County
Down 6 percent
$230,000 vs. $244,100

Utah County
Down 6 percent
$215,000 vs. $229,900

Davis County
Down 5 percent
$209,000 vs. $220,000

Weber County
Down 5 percent
$160,700 vs. $169,000

Tooele County
Down 14 percent
$166,050 vs. $192,721

You can view the full 2009 Third Quarter Single-Family Home Sales/Prices Report online at http://www.slrealtors.com/news/press/.

The decreased sales prices are directly related to sales increases in some counties and that makes sense. There are still some excellent deals available throughout the Wasatch Front and Prudential Utah Real Estate has many prime listings.

Contact Prudential Utah Real Estate 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 pureutah.com.

Tax Credit Clowns Join the Housing Circus

Is your tax credit claim legitimate?

I’m all for extending the 2009 First-Time Home Buyer Tax Credit. Heaven knows U.S. citizens still need assistance with purchasing homes and for many, the program has proven a dream come true. Sales of existing homes have surged, especially as the federal boost will let down Nov. 30 – the date by which all eligible sales must close.

But, really? I mean, really? The program is designed to stimulate the economy, get the housing market moving again, make it possible for first-time homebuyers (and/or those who haven’t owned a home in three years) to realize “the dream.” I highly doubt legislators ever intended it to be a free-for-all for fraudulent claimants to seize this moment of economic distress and governmental generosity.

There’s one in every crowd. According to an Oct. 23 Los Angeles Times business article by Tiffany Hsu, there are many thousands of clowns in the crowd of supposed “first-time home buyers,” seeking an $8,000 2009 tax credit who simply want to beat the system.

Hsu reports the federal tax credit has attracted – get this – 90,000 ineligible claimants. One 4-year-old child will be sorely disappointed when the government refuses a claim that the bright young child is already investing in real estate.

Through late August, more than 1.4 million claims have been made for the home buyer’s credit, according to Hsu’s article. Hundreds of thousands more claims are expected when tax returns are filed in 2010. It is estimated that about 60 percent of those claiming credits have incomes below $50,000. Altogether, the Feds expect to pay out about $18 billion in tax credits. I think that’s just great. It’s healthy for the economy. It’s amazing and wonderful and fabulous for the housing industry. Unfortunately, Americans are not just looking this gift horse in the mouth, but climbing right down its throat in search of more green.

Here are a few more interesting points I pulled from Hsu’s article and want to share with you?

• Suspicious tax credit claims totaled more than $600 million
• Through late August, more than 19,000 taxpayers listed the credit for properties that hadn’t been purchased. The claims totaled a worth of almost $140 million
• Nearly 74,000 purchasers claimed nearly $504 million in tax credits … but they, uh, appeared to already own a home
• 582 “first-time home buyers” were 18 years old or less – these progressive children claimed nearly $4 million in stimulus credits
• 3,200 taxpayers claimed nearly $21 million through tax returns filed with individual taxpayer identification numbers, often used by nonresident aliens, who are excluded from the program
• Many Internal Revenue Service employees were among the taxpayers who wrongly claimed the credit
• The IRS has discovered 167 criminal schemes, opened 115 criminal investigations and temporarily frozen more than 110,000 refunds
• People filing fraudulent claims tend to give the real estate industry a bad name. The assumption is that someone, someone has to be helping them to take advantage of a program intended to help our economy, not drain it.

Tax credits are good. Fraudulent claims are very, very bad. It’s a simple assessment of a very complicated situation … I’m just saying …

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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.

 

Community Spotlight: Layton Real Estate

 Layton Real Estate Surrounded by Opportunity

Beautiful Layton, Utah

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

Things are moving in Salt Lake with a stellar Salt Lake transportation system.

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?

How far are YOU from 11 Alpine ski resorts?

If you lived in Salt Lake City, you could pull into any one of 11 alpine ski resorts within about 60 minutes. 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 now, 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 (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

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

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

Make your move.

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.

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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.

Education Key: UAR Convention Brings Real Estate Industry Up to Date

Joel Carson

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

Joel Carson

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.

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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.