Tuesday, September 29, 2009

Logan Utah Homes for Sale - 762

Just a quick update on the Logan Utah Real Estate market. The number of Logan Homes for Sale continue to decline. There are currently 762 active residential home listings in Cache County.

Of these Logan Homes for Sale, 693 represent single family homes. 60 are condos or townhomes. 40 of these Logan Utah Homes for sale are Short Sales. This is the highest amount of Logan Short Sales since I've kept track.

The average price of these homes for sale is still high. The median list price of Cache County homes is $199,250 while the Average price is $256,835.

Click this link to view all Logan Utah Homes for Sale

Wednesday, September 9, 2009

Equity Now – How to Use Federal First Time Buyer Tax Credit as Down Payment « Utah Homes for Sale – Real Estate Market Conditions

Posted from Diigo. The rest of my favorite links are here.

Home Run Part 2- $4,000 for New Construction Homes

  • The home run grant for new construction properties is back. It's a little less per person, but more people will be able to benefit from it. Here are a few highlight details of Home Run Part II.

    tags: New Construction, Homes, Utah, Stimulus, home run, 4000

    • 1,950 home buyers will get to take advantage of this home buying incentive.
    • The Guidelines between this and the first Home Run Grant program are mostly the same.
    • The main difference is that buyers can receive grants for homes that will be built.
    • Married couples must have annual incomes of less than $150,000, singles less than $75,000.
    • Buyers need to use a Utah Housing Corporation approved lender.  The lender arranges for the grant money.
    • Utah housing will provide a “grant commitment” which will be good as long as the home is completed by June 30th of next year.
    • If the property is an existing home, that has neverbeen lived in, then the the buyer has just 10 days to use.
    • This should be a good boost to the economy for Utah Builders.
    • These grant certificates will likely run out quickly, so if  you want to buy one of these homes, start looking now. Find Homes for Sale in Utah.

Tuesday, September 8, 2009

30-year fixed-rate near 5 percent

  • Mortgage Rates are down again, making the next few months a truly remarkable time for first time buyers to get into a house. Lowest rates imagineable, and $8,000 to buy a house. It will likely never be this good again, so act now, government tax credit expires at the end of November.

    tags: mortgage rates

    • The 30-year fixed rate mortgage averaged 5.08 percent with an average of 0.7 point, down from 5.14 percent a week ago and 6.35 percent a year ago

Posted from Diigo. The rest of my favorite links are here.

Thursday, September 3, 2009

Logan Summer Home Sales Numbers on Par With 2008

Summer is the busiest time for real estate sales in Cache Valley. From June 1st through the end of August 2009 home sales were almost identical to home sales numbers in 2008. The difference, is in the type of homes that sold.

The average sold price for Cache Valley Homes in 2009 was down 6.28%. The median home sold price was down 4.52%. This doesn't necessarily mean that home values are down this much, what this shows us is that the lower priced homes are the ones selling.

I broke home sales down into four categories typical for Cache County Homes. These are generalizations, and just categories put together by price. Homes less than $120,000, I considered Low End Homes. Homes for Sale between $120,001-and $180,000 are Starter Homes, $180,001-$250,000 are Moderate Homes, $250,000-$400,000 are classified as High End Homes, and Homes above $250,000 I classified as Luxury Homes.

This year home sales of the "Low End" and "Starter Homes" were up by about 10%. Many of these home sales can be attributed to the $8,000 first time home buyer tax credit. Home Sales for All other price ranges was down. Only 3% of the homes that sold during the summer were "Luxury Homes," however, nearly 12% of the active Logan Home Listings are in the Luxury Home price range. This represents a huge surplus in the Luxury inventory.

As you can see, from the current homes for sale in Cache Valley, there is a much smaller piece of the pie for the Low end and starter homes compared with the homes that have sold during 2009.

If you are ready to buy or sell a home in Cache Valley, contact a Cornerstone Real Estate Agent today.

Tuesday, September 1, 2009

Logan Real Estate Sales Up in August

August was the best month for Logan Utah Real Estate in more than a year. 112 Cache County Homes have already been marked as sold on the MLS. Year over year August Home Sales are actually up by 6.25% compared with last August.

In addition to a rise in home sales, we have also seen a decline in the number of homes for sale. There are currently 780 homes for sale in Cache Valley. At August's sales pace, Cache County has less than 7 months of active inventory.

This is good news for Cache Valley Home owners. The reduction in inventory will help home prices to stabilize.