Open Houses: Saturday February 28th

There aren't many Open Houses in Cache Valley. Especially this time of Year.

This Saturday, February 28th Cornerstone Real Estate Professionals will be holding a mass Open House with over 15 Cache Valley Homes open to the public. These homes range from $99,000 to more than half a million. They are found all over Cache Valley including: Homes in Hyrum, Logan, North Logan, Nibley, Millville, Providence and Smithfield Utah. Some of these homes are already priced below market value and are waiting for an offer. You can view these homes online, with pictures, addresses, and detailed information.

Then find out specific times fore each home by visiting UtahCornerstone.com

$8,000 for First Time Buyers if you buy by December

As part of President Obamas homeowner plan, first-time home buyers can receive up to a $8,000 tax credit that can be claimed on either their 2008 or 2009 tax returns if they buy before December of 2009.

This will be given as a tax credit even if the buyers tax liability is less than $8,000. Unlike the old $7,500 plan, this tax credit will not have to be repaid. Only first time home buyers will be eligible for this tax credit. Taxpayers are considered first time buyers if they have not owned a real estate in the last three years. They also have to commit maintain this home as their primary residence for three years.

There are income restrictions for qualify for the tax credit, but it likely won't effect many first time buyers in Logan. Buyers gross income must be less than $75,000 for individuals or $150,000 for married couples.

This is going to greatly stimulate the Utah Real Estate economy.

So first time buyers, it's time to consider purchasing real estate in Utah.

The best way to get started is to start searching Cornerstone Real Estate's online search site, and get prequalified by a quality mortgage lender.

Logan Unemployment #2 Nationally

More people have jobs in Logan Utah than just about anywhere in the nation.

According to an article in today's Deseret News, unemployment in Logan is at 2.8% compared with 7.2 percent nationwide.

With the rest of the economy slowing down, Logan is actually seeing some growth, says Sandy Emile, president of the Cache Chamber of Commerce and director of economic development for Cache County. "We have two hospitals that are both in growth mode."

Even though Utah State University announced this week that it will put all its employees on a one-week furlough to save money, "its Innovation Campus is still putting out new jobs and hiring people," she says. And "there is more interest in the past month from residential developers considering starting up again."

Economic growth is down, from 4.5 percent to 2.3 percent, "but in this economy, you say, 'Thank you,' " Emile says. "I'm not saying we're out of the woods, but our juices are flowing again."

Still, she adds, "I don't think we've hit bottom yet." The Logan area has seen some layoffs, and "many businesses are in hiring-freeze mode, mainly just watching to see what the economy is doing. But manufacturing entities aren't closing. It's more like they're dropping down to re-situate themselves.

This is also is good news for the Logan Utah Real Estate market. Home values are more stable when the economy is moving and foreclosures are also much lower than state and national averages.

41 Homes Sold in Cache County in January

Home Sales were at the lowest number they've been in nearly 8 years for Cache County Real Estate.



The median price of homes sold was also down to $156,000, but the average price of Cache Valley Homes sold was at a five month high of $194,038.

There are currently more than 700 different residential properties for sale including 627 single family homes with a median list price of $228,000 and 64 condos for sale with a median list price of $138,900.

It's clearly a buyers market in Logan Utah. There are many good deals out there including short sales and foreclosure homes. Visit Cornerstone Real Estate's website to search Logan Utah Homes for Sale.