Life Can Be Tough

A friend of mine posted a quote on Facebook recently...it really got me thinking. The quote was this...Tough times don't last....but Tough people do. I really like that. We are all handed our share of tough times. My experience has been that I have ALWAYS learned something valuable from those times. The tough times in my life have strengthened me and helped me to grow emotionally and even spiritually.

Now don't get me wrong, I don't look forward to tough times, but I have learned to embrace them, ask myself "What can I learn from this", and store those lessons away for future use.

I look forward to a wonderful 2011 with my family and friends.

Debbie Cheney, Coldwell Banker Residential
801 573-8338
Today is the best day of my life....so far!

West Jordan Sales Statistics

Search Criteria: State is Utah, County is Salt Lake, City is West Jordan

Month Count Volume Mdn OL $ Mdn Sold $ Mdn S to OL Mdn SQ FT Mdn $/SQ FT Mdn Beds Mdn Baths Mdn CDOM
Oct 2010 75 $14,695,099.00 $215,000.00 $189,900.00 88% 2,425 $81.82 4 3 75
Nov 2010 89 $17,490,047.00 $209,900.00 $185,000.00 88% 2,359 $80.39 4 3 121
Dec 2010 80 $15,846,572.00 $210,000.00 $196,250.00 93% 2,531 $81.50 4 3 82
Jan 2011 16 $2,664,945.00 $199,349.50 $170,325.00 85% 2,238 $68.99 4 3 95

Prepared By:
Debbie Cheney
Coldwell Banker Residential Bkrg - Union Heights
801-573-8338

This report was generated automatically by the Wasatch Front Regional MLS on 01/13/2011 at 12:49 PM. Includes only listings where list price is between $15,000 and $10,000,000 and sold price does not exceed 25% +/- that of the list price.

If you would like information on the city you live in, let me know. I would be happy to send it to you. Make it a great day!!!!

The expert says....

As promised here is the information from the 2011 Forecast Meeting of the Salt Lake Board of Realtors. The following are my notes from the meeting. I have downloaded the full presentation from Lawrence Yun (National Association of Realtors Economist)and have it available for those who would like to have it emailed to them. I also have a pdf from Jim Woods, a local person who has put together his opinion of the Utah Market.

1. Utah generally recovers quicker then most areas of the country from inflation and recession. It is one of the fastest growing states as far as population and business.

2. Easy credit was in Mr. Yun's opinion for the downfall of the real estate markets. During the easy credit time...underwriting loan requirements were very lax and now in his opinion they are too stict. A balance needs to be found.

3. January 2011 outlook appears better than January 2010's outlook .

4. Corporate profits are up but business investments are down. This is due to consumer caution. People are playing it safe with their money.

5. It is popular opinion in Washington that the Mortgage Interest Deduction is the cause of the housing bust. He believes this to be incorrect...he goes further to say that there would be a 15% hit to home values in the deduction is taken away.

6. Existing homes are a better value currently than new construction. You basically get more for your money.

7. Inflation needs to stay at 3% or less for the economy to turn around. He says if we have a good job market we will have a good housing market.

So....things look good for us here in Salt Lake area. According to Jim Woods Wages paid in Utah will increase by 4%, our net in-migration will increase by 10,000, retail sales are expected to be up 3.9%. Those items will aid in a better 2011 than 2010.

If you have friends or family who ready to buy or sale real estate, I would love to help.

Debbie Cheney, Associate Broker with Coldwell Banker Residential
801 573-8338, sold@debbiecheney.com

Forecast for 2011?

I have received many calls asking about the real estate market for 2011. Even though I don't have a crystal ball, I am attending the Salt Lake Board Forecast Breakfast tomorrow. Each year they invite a leader in the real estate field to come and discuss what to expect in the coming year. Here is a preview of the speaker....Lawrence Yun, chief economist and senior vice president of research for the National Association of REALTORS, will be this year's keynote speaker.

Dr. Yun will speak on recent developments in the housing market (national and local) and the direction of home prices in the next 12 to 24 months. He will also address subprime loans and the foreclosure impact on the housing industry.

I will update my blog with the information that I receive from the meeting.

Here's hoping he has good news for us here in Utah. Even though we haven't been hit as hard as many areas of the country...it would be nice to have a more stable market.

Who do you know that might be buying or selling real estate?
I would love to help!!!

Real Estate in 2011

9 items homebuyers desire in 2011

by Dana Dratch • Bankrate.com

Today's homebuyers want it all.

Some items on the shopping list: a home in great condition with rooms that can do double duty. Areas that mingle indoor and outdoor living -- patios, porches, decks and outdoor rooms -- are always a plus. And so are those features that offer a little luxury, like garden tubs, first-rate appliances and high-dollar countertops.

They're also going back to basics: searching for solid, well-maintained properties that will give them their money's worth.

"I think this year they're buying properties that are in good mechanical condition that have inherent value," says Ron Phipps, president of the National Association of Realtors.

But more than anything, buyers want to drive a hard bargain.

They want "great deals," says Patricia Szot, president of the MetroTex Association of Realtors. "And no matter where a seller prices their property, they're looking to negotiate."

Here are nine items popular with buyers this year (click link for full description).

1. Homes in good condition
2. Rock-bottom bargains
3. Outdoor living areas
4. Incentives
5. Practical green features
6. Open kitchens
7. Repurposed materials
8. Smaller, less-formal homes
9. Touches of luxury

Coldwell Banker Survey Finds New Trend in College Towns

Study done by Coldwell Banker finds that parents are choosing to invest in a home for their college student to live in, rather than spending money on rent or paying for a dorm.  Food for thought... Utah is a state that is full of college towns!

Source: www.coldwellbanker.com

Coldwell Banker Survey Finds New Trend in College Towns

To see how college towns stack up in home price affordability, Coldwell Banker Real Estate released its new College Home Listing Report (College HLR) today, which provides the average home listing price of four-bedroom, two-bathroom properties listed for sale between April and September 2010 on coldwellbanker.com in markets home to the 120 schools in the Football Bowl Subdivision. With almost two-thirds of the College HLR markets having subject homes priced less than $250,000 (78 in total), college towns prove to be a touchdown for homebuyers.

“Towns that are home to major universities have a special vibe you just don’t find anywhere else,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate and alumni of the Illinois Fighting. While not all college towns are affordable, even the more expensive markets make great places to live.

Additional Survey Findings:

Coldwell Banker Real Estate also found that college towns have continued to be a hot spot for real estate investing, regardless of the downturn in the economy. Seventy-three (73) percent of Coldwell Banker real estate professionals surveyed said they see a significant number of investors buying homes near campus and renting them to people in the community, with only 21 percent seeing a decrease in this trend over the past five years.

“Our survey suggests two types of investors see value in college towns,” Gillespie said. “Long-term investors take advantage of the steady stream of renters, including students, professors and university officials. “‘Parent investors’ buy homes for their child to live in while attending college. Roommates provide rental income for the mortgage, and the hope is that students care for the home and it appreciates over time.”

With so many benefits to living in a college town, they aren’t just for investors. Alumni and retirees are finding reasons to re-live their glory days, as well. Fifty one (51) percent of the survey respondent noted they see a lot of alumni homebuyers, and 49 percent see a significant number of retirees moving to their college town.

“It’s not just students who want to live near campus, attend games and take interesting classes,” Gillespie said. “For a few years now, college towns have been popular markets for alumni and retirees. I’m a great example,” he said. “I purchased a home in Champaign, Ill. to be near my alma mater, the University of Illinois, and it’s one of the best decisions I’ve ever made, from both a lifestyle and a financial perspective.”

Fun Fact:
The survey of Coldwell Banker real estate professionals uncovered that a college sports team’s performance affects more than just a football ranking; nearly one quarter (24 percent) of respondents indicated that the success of a college’s sports teams can have an impact on the local real estate market.

For a fun look at fans’ perspectives, Coldwell Banker Real Estate spoke with dozens of people on a fall football Saturday for insider thoughts on what makes their college town special. To see these interviews, please visit Coldwell Banker On Location: http://www.youtube.com/watch?v=fmglCxq1sck

For the full College HLR ranking and additional information on the College HLR and the larger HLR of U.S. and international markets can be found at http://hlr.coldwellbanker.com/.
PARSIPPANY, N.J. (Nov. 11, 2010) – Every fall, parents wave goodbye as their college-bound kids pack up their belongings, make the drive down university lane and prepare for football games, mid-terms and freedom. While college living is often associated with dorms and campus housing, Coldwell Banker Real Estate LLC discovered that many parents are opting to purchase a home rather than spend money on rent or dorm fees. According to a recent survey among the Coldwell Banker® network of real estate professionals in college towns, 64 percent see a significant number of “parent investors” buying homes for their kids to live in while attending the university.

Hope to see you there!

Just a reminder of the 5k walk this Saturday 8/15. The Jazz Bear will be there posing for photos and giving autographs. I would love to see everyone there. This is a great cause. $12.00 of the $15.00 will house 1 person for 1 night. We are all so blessed and have so much, I want to give back a little. So, I hope to see you at Sugarhouse Park's West Terrace this Saturday, registration begins at 8:00 and the walk will begin at 9:00 am. If you can't come and still want to donate, I would be happy to accept any amount you would love to send.

No one should be homeless!!!!! Let's help a few people by helping "The Road Home"