Rob Aubrey Real Estate Group

Just kidding, I figured it was a better Headline than, Local Realtor Gives Accurate Data.

I find it interesting that people will read a web site and it assume it is the truth, the whole truth and nothing but the truth.

According a gentleman name Adam that has commented recently on 3 Pounds that everyone should read a web site called http://www.housingtracker.net/ The disclosure at the bottom of the site is as follows.

"The numbers provided here are asking prices derived from Realtor MLS listings. The data is an aggregate representation of large markets and should not be used for valuation of individual homes. While every attempt is made to deliver accurate data, the information on this website is provided as-is. No warranty or guarantee of accuracy is offered or implied. This work is licensed under a Creative Commons Attribution-Share Alike 2.5 License."

According to this site there are 10,149 active single family and condo listings in Salt Lake City. Their claim is that the data is from Realtor Listings, when you click the link it is... continue

The Empress Theater

9104 West 2700 South Magna Utah 84044

(801) 347-7373

What an Awesome Story the Empress Theater has. From it's beginning in 1916 Entertaining the miners then silent movies.

Leo Ware toiled to and worked and spent a lot of blood sweat and tears, the county wanted to raze the building. His dream of live entertainment was carried forward by the Oquirrh Hills Performing Arts Alliance. The theatre reopened on 4 November 2006 with "Forever Plaid,".

For more details about the history of the Empress Theater and Leo W. Ware.

The Empress Theater 2008 Season schedule of shows

Click Photo For Tour

To arrange a preview call The Rob Aubrey Group at 801-694-4762 or Email Rob@Aubrey.net

I usually don't write about listings in the main blog page, but I had to show buyers what the current market looks like. Because of interest rates are so low. You can own a condo like this for right around a $1,000 per month including taxes, insurance and the homeowner fees.

Immaculate One Owner Condo

Built 1995

2026 W 3650 S, 84119 All New Paint, New Carpet, Laundry Room Gas Fireplace, Good Storage, Eat In Kitchen Large Master With Walk In Closet Refrigerator, Stove, Dishwasher $90 HOA Taxes $930 2 Car Garage With Opener To Search Over 15,000 Homes For Sale With Tours And Addresses

 

Utah Housing Forecast 

We hear all kinds of hullabaloo about the Utah Housing market, from reporters committing loan fraud to someone that has never bought or sold a piece of property BUT listens to NPR.  

Let’s hear from some experts

National Economist

“Utah is one bright spot compared to other parts of the country that are in severe pain,” said Lawrence Yun, chief economist for the National Association of REALTORS®. “It’s the shining star so far if one wants to say which market is hot.

” But that’s not to say Utah real estate will be completely free of cloudy conditions in 2008. Despite Utah’s strong economy, housing sales are still expected to slow in 2008 and some markets may face affordability challenges.

“In Utah, you’re going to see home sales at a lower, more sustainable rate, but they aren’t going to falter,” said Jeannine Cataldi, senior economist for economic forecasting firm Global Insight.

She expects activity to pick up once people know the full extent of the mortgage crisis, which is expected to peak in 2008. “Once we know how that plays out, people can make decisions and move forward,” Cataldi said.

The more debatable subject is what will happen with home prices. Some economists expect to see single-digit price growth in 2008 while others expect slight price declines.

Local Economist

Some local economists, however, see a slightly different picture.

Mark Knold, chief economist for the Department of Workforce Services, says he predicts prices will probably come down a little because he thinks, “prices are flirting above what this market can afford even in the face of good wage gains.”

Kelly K. Matthews, Wells Fargo’s executive vice president and senior economist, also says Utah has an affordability problem, which is why he expects prices to be down 6 to7 percent in mid-2008.

“I believe we are so far out of equilibrium, I do not believe we can avoid some reduction in prices.”

At the same time, Jeff Thredgold, economic consultant to Zions Bank and president of Thredgold  Economic Associates, sees price activity varying depending on the market segment.

According to Thredgold, lower-end properties in the $175,000 to $300,000 range should increase approximately 7 to 10 percent. Some homes in the $300,000 to $500,000 range should see price gains of about 5 percent while others may see a slight decline. The real concern is the market for $500,000 and above properties; people may have to cut prices, and there may be areas that have to come down 5 to10 percent, he says.

“All real estate is local,” Thredgold said. “In certain communities, it will do well, but in some areas, prices may have to come down.”

I am more in line with Thregold, he clearly understands there is no across the board blanket diagnosis for Real Estate. It is local in nature, you can have zip codes with two different markets with tow different conditions at the same time. 

If you would like info on your particular maket contact me.

Above quotes are from the Utah Realtor Magazine

Is This A Good Time To Buy A Home?

Let's Take a Look at the Facts

Interest Rates Are 5.75% (depending on credit score)

Inventory is Ripe

Unemployment is Low

There Are Deals To Be Made

Stop listening to the media.

Dave Fox of KUTV News was involved in a loan fraud scheme. He made no money and was responsible for all the payments on a house. Are you going to listen to the media now?

Now I am aware there are some parts of the market that are still going to correct itself and prices are going to slide back. Back that is less than half the available homes and are way above the reach of the average buyer.

If you think prices are going to drop in 362,000 and under range (FHA Loan Limit) good luck.

Search over 15,000 Homes for sale along the Wasatch Front