February 2011

Found 4 blog entries for February 2011.

We found out almost 2 years ago that UDOT would undertake a 2-year project to improve transportation along 11400 S.

UDOT announced yesterday that the 11400 South bridge over the Jordan River, at 700 West, is now open. Construction is still underway in some places, but at least one lane will remain open in each direction through the spring. You should still use caution in the area and watch for shifting lanes and construction equipment near the railroad bridge. Speed limits are reduced to 30 mph between 1300 W. and 3600 W.  

The total project, which is 98% finished, includes continuing 11400 South from 700 West to 1300 West and widening the road to five lanes (four traffic lanes and a median). They have improved pedestrian structures and added

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The Obama administration is reducing the government's role in mortgages. They have made a proposal that will undo 70 years of previous federal policy aimed at getting Americans to buy homes. This proposal may also increase the expense of home loans all across the board.

The plan, rolled out by the Treasury Department on Friday, will slowly dissolve Fannie Mae and Freddie Mac. These two programs are government-sponsored and purchased mortgages during the 2008 housing slump to encourage more lending. Eventually these purchases had to be bailed out.

"It's clear the administration wants the private sector to take a more prominent role in the mortgage rates, and in order for that to happen, mortgage rates have to go up," said Thomas Lawler, a housing

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The numbers are in!

Here are the top ten zip codes for 4th quarter 2010. These areas had the most existing home sales accross the state.

#1. Taylorsville/Kearns (84118)
      151 homes sold
       Median price: $138,000
Current homes for sale

#2. Lehi (84043)
      144 homes sold
      Median price: $210,000
Current homes for sale

#3. Farr West (84404)
      128 homes sold
      Median price: $133,225
Current homes for sale

#4. South Jordan (84095)
      127 homes sold
      Median price: $272,000
Current homes for sale

#5. Clearfield (84015)
      117 homes sold
      Median price: $160,000
Current homes for sale

#6. Draper (84020)
      111 homes sold
      Median price: $349,900
Current homes for sale

#7. Tooele (84074)
      104 homes sold

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The Ground Hog saw his shadow meaning an early Spring. What does this mean for the housing market? Will there be an early increase in home sales? January and February are historically lower in sales, but this year we've seen demand increasing during the cold months. This is a great sign!

As the demand increases more homes will become available on the market. Right now the number of homes on the market is extremely low. This is great news for sellers.

At the beginning of each month I look for the 5 areas with the highest probability of selling. These areas are Hot Spots! Low interest rates won't last forever, and are likely to increase soon. If you live in one of these hot spots, now is the time to list your home and start looking for a new home to

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