Utah Real Estate Market Conditions

In the past, the internet provided a good tool for viewing homes for sale. You could see pictures, and get a good feel for the properties for sale before taking the time to call you Realtor. One thing you couldn't get a feel for was the neighborhood the house was in. Was it near businesses? Busy Streets? was it the nicest home in a neighborhood of beaters?... You had to actually drive out and see the house to get a feel for the neighborhood.

Now, Logan real estate searches just got a little bit more effective. It's taken some time, but Google Street View has reached Logan Utah, and Cornerstone Real Estate has these features implemented in its real estate search sites.

Now when you look for Homes for Sale in Logan Utah, you can actually take a virtual tour of the neighborhood, see the neighbors homes, and take a virtual walk through the place that you might call home. This tool is made possible by Google Street View.

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Not all Cache County Homes can be found using Google Street View, but so far we can search most Logan Utah Real Estate, Providence UT Real Estate, Hyrum UT Real Estate, Nibley Real Estate, Smithfield Real Estate, and the major roads on highways on the outlining areas of Cache Valley. It's just been the last few weeks that these features have worked in Cache Valley, so I'd expect more to be added soon.

It seems to me that the winter Logan Real Estate slump is coming to an end. Homes are starting to sell again, and buyers are overcoming fears and acting. It seems like a lot of this increased activity is with first time home buyers, but when the first time buyers purchase homes, the existing sellers can move on and then purchase more expensive homes. It's a cycle that has to happen if we want to make all the sellers out there happy again.

An agent in my office had some buyers with a list of a dozen homes they wanted to see this weekend. By Tuesday, four of these properties were under contract. Another one went under contract today, and these buyers plan to write an offer on one of these homes this afternoon. So from the list of 12 homes these buyers were interested in last week. Half of them could be off the market this week.

Here are some of the reasons why the Cache Valley Real Estate market is picking up:

There are more Cache County Homes on the market than ever before for March. Buyers have the power and have lots of selection. They are able to find what they are looking for.

Cache Valley Homes are affordable: The median price of homes sold is less than $180,000.

Mortgage interest rates for purchasing Cache Valley Utah Real Estate are the cheapest they've ever been. Interest rates on 30 year fixed mortgages can be obtained for less than 5%. For those that qualify, it is cheaper to own than to rent an equivalent home.

Logan Real Estate offers excellent grant programs and tax credits for first time buyers. If a first time buyer bought a new home in Logan they could also qualify for $8,000 from the federal first time home buyer tax credit, the $6,000 Utah new homes grant, plus other local Neighborhood Non Profit grant programs may also be available.

If you are ready to buy Real Estate in Logan UT, contact a Cornerstone Real Estate Agent today.

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Description and Features
This Craftsman Bungalow has a great location. It is close to everything and in Logan's Historic district. The front unit is full of character with a large front porch, hardwood floors, and crown molding. Enjoy the private shaded backyard with many mature trees. This duplex makes a good rental for investors, or a great way to save money as an owner by renting out the second unit. It has separate gas/electric meters and laundry facilities in both units.	Bedrooms: 3 Bathrooms: 2.5 Parking Spaces: 2 Square Feet: 1580 Lot Size: 14374 Year Built: 1932 Floors: 2 MLS #: 843667
Location
Click to view map: 55 S 300 W Logan 84321
Links
Logan UT Duplex Virtual Tour Logan Real Estate Search Cornerstone Real Estate Listing Website

According to the US census bureau, the Logan UT metro ranked 9th nationally for population growth between July 2007 -2008. It grew by 3.2% and added nearly 4,000 people. About one third of the population growth was from people moving to the area while the rest was from a higher than average birth rate.This is another reason why the Logan UT Real Estate market is still so healthy.

Statewide, Provo UT ranked 6th, and St. George ranked 10th nationally for population growth.

 

 

Is it possible, will the current ridiculosly low mortgage rates will go even lower? Wasn't really low mortgage rates part of the fuel that got us into the economic mess?

Well like it or not, it looks like mortgage interest rates will be going down.

The Feds met yesterday and announced that they will spend an additional $750 Billion on mortgage backed securities, one of the driving forces for mortgage interest rates. Some are predicting that they will be lower than 4.5%. In December, when the Fed announced that they would purchase $500 Billion in MBS, mortgage rates reached their lowest point ever.

The good news is that this will stimulate more buying of Real Estate in Logan Utah. It will help our local market to normalize, and makes housing very affordable.

Look for Homes for Sale in Logan Utah at UtahCornerstone.com

Home Sales in Box Elder County have been down for the first part of 2009. Sales prices of homes have leveled off but they haven't dropped substantially. Like most parts of Utah. The Box Elder Real Estate market is very similar to the market in Cache Valley. It is a buyers market, and there are lots of homes for sale in the Brigham City area. Here are a few graphs that help us see what is going on with Brigham City Utah Real Estate.

The average price of homes sold inBox Elder County was down in January and February, but November and December had the highest average price of homes sold ever.

The Utah State Legislation passed the NEW construction housing incentive last night where buyers can get a $6,000 downpayment grant to purchase new construction homes in Utah. More details should be made available later today, but here's what we know about it so far.

• The loan officer will request the funds.
• The funds must be used within 30 days of request.
• Home must have an occupancy permit.
• Buyer must not make more than 75K single or 150K for joint filings.
  
• This is for anyone not just first time buyers.

There is only enough grant money available for 1,600 buyers, and it is on a first come, first serve basis. So start looking for New Construction Homes for Sale today at UtahCornerstone.com

 

The Utah State Senate OK'd a bill that would allow buyers of new construction homes to get a $6,000 grant towards the purchase of a New Construction home. There is a surplus of homes for sale in Utah, and a good portion of these are new construction. The idea is to help get rid of this inventory to aid struggling builders.

The money used for the grant program would be provided from the funds Utah was given as part of the Obama federal stimulus money. There is only enough of this money for 1,600 buyers, so it would be granted at a first come first serve situation. Great incentive to buy now. The other stipulation for the grant program is only available for people making less than $75,000 a year. Non first time buyers will qualify for this program if it is implemented.