Utah marks fifth quarter in row as nation's home-price increase leader

This was in the Salt Lake Tribune today - It's a great article about Utah Real Estate! Forget the "doom and gloom" reports we keep hearing from the media - The sky really is NOT falling! This article is great, and shows that we truly do have a STEADY economy here in Utah, despite the fact that some other areas are feeling the downturn a bit.

Article Last Updated: 02/26/2008 01:33:16 PM MST

Posted: 11:12 AM- Utah still leads the country in home-price appreciation, a new report shows.
Prices rose 9.27 percent in the fourth quarter of last year, compared with the October-November-December period a year earlier, according to the report released today by the Office of Federal Housing Enterprise Oversight.
In the report, Wyoming was No. 2 with a 8.27 percent gain. North Dakota was third, with a 7.87 percent increase, followed by Montana at 6.90 percent and Alaska at 5.97 percent.
Among metropolitan areas, Wenatchee, Wash., was No. 1 with a 13.67 percent increase in home values over that one-year period. The Houma-Bayou Cane-Thibodaux area in Louisiana was No. 2 with a 12.15 percent gain, followed by Grand Junction, Colo., up 12.03 percent.
Ogden-Clearfield was No. 4, with a 10.8 percent increase. Provo-Orem ranked sixth among all metro areas, with a 10.46 percent gain, followed by Salt Lake City, up 9.68 percent, and Logan, up 8.75 percent.
The only other Utah city on the list, St. George, however, logged a 1.91 percent decline in home values, placing it at No. 220. St. George's real estate market began a home-price run-up more than a year earlier than much of the Wasatch Front and began its downturn in 2006. The Wasatch Front's real estate market began to slow in the summer of last year.
Nationally, prices were up only 0.84 percent in the year that ended Dec. 31.
In the earlier part of this decade, Utah's home-price appreciation was the worst in the country, while Utah's neighbors and other states were racking up impressive home-price gains. Then, a few years ago, the state's real estate market took off, too.
But while Utah's market took off, its Western neighbors began a downturn that continues today. Nevada's home prices, for example, fell by 5.86 percent in the year that ended in December. Prices also are down 2.4 percent in Arizona. The lowest-ranked state in terms of appreciation is California, with a decline of 6.65 percent.
Utah's ranking marks its fifth consecutive quarter in the top spot, but rising inventories and declining sales of new and resale homes along the Wasatch Front that started several months ago point to more moderate price increases, most likely in the single digits, over the next year. Some even are predicting home values may decline at some point.

As always, Please comment with questions, or if you have anything to add!

IGNORE the headlines! Don't Wait to buy Real Estate!

I came across a great article in TIME magazine. CLICK HERE to view this article. There's also a link here to download a PDF of this great article!

This article really highlights a lot of great reasons that you should buy NOW instead of waiting. It highlights how the "wait and see" mentality can really cost you! It's definitely a factual read worth your time, so please check it out!

As always, feel free to comment with questions!

The Sky REALLY is NOT FALLING!

The media is screaming "recession, recession" and people are FREAKING out. Everyone seems to be under the impression that the market is "TANKING".

Yes, it's true that in some previously over-inflated markets, prices are down, and the market is coming back to reasonable. But here in Utah, prices are holding steady, and in fact, we are slightly UP on the year-to-year comparison! Yes, there is a lot for sale, and yes, the supposed "deals" are getting better, but people are NOT losing money now!

For Park City specifically, I just had a luncheon with RMRA statistics (Rocky Mountain Resort Alliance) and it seems that resort markets are much more steady through the "downs" in the market. Park City is still a GREAT value for a resort town! There is some real opportunity here, ESPECIALLY with the historic low interest rates! Park City, all in all, is still a killer deal!

Greener Cleaners - Cars!

Here's a few ideas to use when washing and waxing your vehicles! Keep in mind, the Windshield Wiper fluid may possibly freeze in colder climates - This solution works GREAT when you're scrubbing to get stuff OFF of the windshield, but I'm a little to wary of it freezing to actually mix it up and put it IN the washer fluid compartment.

Windshield Wiper Frost Free Fluid
Mix 3 parts vinegar to 1 part water and coat the car windows with this
solution. This vinegar and water combination will keep windshields ice and frost-free.

Car Soap
1/4 cup vegetable oil based liquid soap, and hot water. Mix in pail. Wash your car on the lawn instead of your driveway to reduce runoff to the street or storm sewer. Remember to conserve as much water as possible.

Car Wax (This one's a LOT of work... but it does look great when you're done)
1 cup linseed oil, 4 tbsp. caranuba wax (available at automotive stores), 2 tbsp. beeswax, and 1/2 cup vinegar. Put ingredients in top half of a double boiler or saucepan. Heat slowly until wax has melted. Stir, and pour into a heat resistant container. After wax has solidified, rub it on the car with a lint-free cloth. Saturate a corner of a cotton rag with vinegar and polish the wax to a deep shine.

As always, please feel free to comment with questions or if you have something to add!

Greener Cleaners - Carpet and Upholstery!

Here are some ideas you can use to clean your carpets and cloth upholstery (including couches, vehicles, etc) without the use of harsh chemicals!

Carpets/Upholstery:

1) A great non-toxic carpet stain remover is club soda. Soak spot immediately with soda and blot until the stain is gone.
2) Pet Urine on Carpets: Dab area with toweling to absorb as much as possible, wash spot with liquid dish detergent, and rinse with 1/2 cup vinegar diluted in 1 qt warm water. Lay towels or paper towels over the spot and weight down to absorb excess moisture. Let stand 4 to 6 hours, then remove toweling, brush up nap and allow to dry completely. Use an electric fan to speed drying.
3) Red wine stains can be removed from carpet by rubbing baking soda in and vacuuming.
4) Sprinkle cornstarch onto carpet, vacuum.
5) To remove grease spots from carpets, first sop up the liquid with a sponge, then rub a liberal amount of baking soda into the spot. Let it absorb overnight. Next day, remove the excess and vacuum the area.
6) To remove grease spots from carpets, first absorb excess with a sponge, then rub a liberal amount of corn starch into the spot. Let sit overnight, then vacuum.
7) Dry cornstarch sprinkled on rug and vacuumed.

As always, Please feel free to comment with any questions, or if you have anything to add!