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utah real estate


Been a While

August 7th, 2007 by Erik

Gads I haven’t posted in quite some time. Summer has flown by. The wholesale mortgage landscape is going crazy right now – subprime lenders are dropping like flies. It’ll be interesting to see how it all plays out.

In other Utah news… football season is almost here and this year should be a fun one for Utah fans. Sorry BYU fans – you’ll most likely be back to another losing season :)

Home prices here haven’t started falling, that I know of, but I suspect it won’t be too long til we catch up with the rest of the country. Hold on tight kids it’s going to be an interesting ride.

Posted in commentary, misc, mortgage news, utah real estate, utah sports | No Comments »

Utah Land Prices Getting Too Expensive?

July 10th, 2006 by Erik

It seems to be the case, at least for non-profit Habitat for Humanity, that rising land prices in the Saint George area have pretty much stopped new Habitat homes from being built. Check out this article from KSL.

It’s hard for me to believe that there is no available land anywhere around Saint George for less than $150,000 a lot, but if that is the case then it’s pretty remarkable that demand down there is so high. Perhaps there is room for a big developer to purchase land a bit further away from the hot spots and build some less expensive housing. It certainly sounds like it.

It will be interesting to see if Washington County median home prices topple approved FHA maximum loan limits, effectively nullifying FHA availability down there. That would be a major blow to the lower-middle class around Saint George as far as home ownership goes – especially for first time home buyers. FHA is not really an option (unless limits have been drastically increased lately) in the higher priced areas like California, Arizona, and Las Vegas. Hopefully St George doesn’t join that group.

Elsewhere in Utah the mortgage situation seems to be unaffected by the drastic increase in home values over the last year or so. FHA already increased it’s limits to around $225,000 along most of the Wasatch Front. So for the most part, getting a mortgage loan in Utah shouldn’t be too difficult for most people.

Posted in fha, mortgage news, utah real estate | 2 Comments »

An Acre of Forest for a 2300 Square-foot Home?

May 19th, 2006 by Erik

Wow. That’s all I could think when I read the following from Inman News:

Ask most home builders these days what they sell, and they’ll say a lifestyle. In most cases, this means a house on the outer fringes of suburbia with a yard for the kids and a garden for the folks. The house has plenty of room to pursue hobbies, entertain friends, bond with the family and get away from it all in a spacious master suite.

But is this lifestyle a sustainable one for the long haul? That is, in meeting our own needs in this fashion, are we compromising the needs of future generations? The needs of our children and our children’s children? In a word, yes.

If we continue to build more than a million such houses every year, the long-term effects will not be good, so say architects, builders, environmentalists, ecologists, engineers and developers in recent interviews. Dan Chiras, an Evergreen, Colo., environmentalist, teacher and home builder was quite specific.

“We cannot keeping spreading out across the country, gobbling up farmland at the rate of 3,500 acres a day to create roads and highways, single-family houses and suburban shopping centers. We need the productive farmland to feed our growing population–as many as 120 more million people may be living here by the year 2050. In the near term we need the forests to absorb the astronomical amounts of carbon dioxide that we are producing daily, and we need the pastureland to absorb rain and reduce flooding. All the paving, roofs, sidewalks and driveways that come with every subdivision create impervious surfaces that compromise nature’s ability to control flooding.”

Not only are we gobbling up land to create new communities, but we are also using vast resources to build the houses.

“For almost every new 2,300-square-foot house, we have clear cut an acre of forest somewhere,” Chiras explained. “To produce all the metals and minerals used in construction, we have dug a hole in the ground somewhere that is equal to the entire volume of the house.”

Read the rest of the story here.

Unless you’ve been hiding in a cave, you know that suburban expansion has been widespread in Utah for many years now. I think most people understand some of the basic complications that arise from this sort of development plan, but I, for one, never took into consideration half of the “costs” that author Katherine Salant identifies in her article at Inman.

It will be interesting to see what happens if gasoline really does hit $5 a gallon this summer, as predicted. Those who are commuting will take a serious hit to the pocketbook if it happens, but will it translate into more people looking to move closer to their place of employment? Will urban real estate prices in Salt Lake rise while suburban development stalls? Could happen. Time will tell.

Posted in commentary, utah real estate | 1 Comment »

MLS Listings in Utah

May 11th, 2006 by Erik

While I’m on the topic of websites with Utah real estate listings, I should mention the official MLS site where you can find any property listed by a Realtor along the Wasatch Front.  The site is www.UtahRealEstate.com.

You won’t be able to get addresses of homes unless you contact the listing agent, or get your buyer’s agent to pull a list of homes matching your desired preferences from the MLS, but you will be able to see what is out there, asking prices, pictures (usually), and other details.  It’s a good site to start your search from.

If you don’t have an agent yet for either buying or selling property, and would like a reference, just drop me a line.  I know several up and down the Wasatch Front that can help you out.

Posted in utah real estate | No Comments »

Selling Your Home in Utah By Owner?

May 10th, 2006 by Erik

If you are a Utah homeowner planning on selling your home by yourself or already doing so, give me a call (801-376-2289) for a code that will get you a free home ad on one of the leading for sale by owner websites. Check out some of what you’ll get with this ad:

  • FSBO3k.com is a nationwide network of homes for sale by owner
  • FSBO3k.com advertises on all the major search engines and across a vast network of content related websites
  • Each seller gets a unique web address, which can be referred to from other sites and offline ads
  • FSBO3k.com listings run until sold
  • FSBO3k.com listings allow up to four photos to be uploaded
  • FSBO3k.com creates a printable color flyer for each listing

If you are not in Utah, you can still register for a free trial at the site.

Posted in for sale by owner, utah real estate | No Comments »

Good to See Some “In-fill”

April 13th, 2006 by Erik

This article from Utah Business Magazine outlines the so-called “new urban” community that Hamlet Homes is building in Murray.  Though this may sound awful to some, I think it’s good to see more efficient use of space within Salt Lake County.  I like the idea of building “up” instead of “out”.

Posted in commentary, utah real estate | No Comments »