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					  LEADERSHIP DIXIE
GROWTH & INFRASTRUCTURE
      Challenge Day
        Thursday, November 18, 2010



            Presented by
      Vardell H CURTIS, RCE
       Chief Executive Officer
Washington County Board of REALTORS®
VALUE in HOMEOWNERSHIP

It was only earlier this decade that so many
buyers jumped on the investment bandwagon.
They bought and sold within incredibly short
time frames, and walked away with profits.
But as the BOOM busted, many sellers found
they had bought at the top of the market and
as prices corrected, they lost more than just
dollars. Foreclosure rates skyrocketed.
Historically, however, homeownership is a
long term investment, and one that brings
many rewards.
                     REALTY TIMES – November 2010
UTAH FORECLOSURE RATE
Utah is No. 33 in the nation in terms of states
with the highest numbers of foreclosures and
delinquencies, according to a new report from
LPS Applied Analytics. The total percentage
of non-current loans in Utah was 10 percent in
July, compared to a rate of about 13 percent
nationally. Over the past six months, Utah
foreclosures and delinquencies have declined
9.4 percent

                      Utah REALTOR Magazine – Third Quarter
 UTAH FORECLOSURES
One out of five Utah homeowners with a mortgage
was in a “negative equity” situation in the second
quarter. In Utah, 20 percent of people with a
mortgage owed more on their homes than they were
worth, and more than 6 percent were getting closer to
being “underwater.”

Compared to other states, the percentage is relatively
mild. In Nevada, 68 percent of mortgaged properties
were in a negative- equity situation, followed by
Arizona (50 percent), Florida (46 percent), Michigan
(38 percent), and California (33 percent)

                            Utah REALTOR Magazine – Third Quarter
NOD’s HISTORICALLY
NOTICES OF DEFAULT
NOD’s & TRUSTEES DEEDS
CONSUMER CONFIDENCE
Prior to the recent mid-term elections
consumers expressed their troubling
unhappiness about their situations. The index
measuring confidence about consumers’
present situation, which is based primarily on
questions related to the economy, job and
personal finances, was 23.9 in October. That is
much lower than the neutral 100 mark and
essentially at near historic lows – even
matching the levels at the depths of the
recession in the early 1980s and early 1990s.

                        Real Estate Insights – November 2010
CONSUMER CONFIDENCE
After an election there is generally some boost
to consumer confidence. The boost comes
from a simple tautology: the majority of
people (at least the majority of those who
voted) got what they wanted, i.e., the
candidates who received the most votes won.
Let’s not underestimate the potential for
improvement in consumer confidence and the
consequent impact on the housing market.
People in general believe in a better future for
themselves and their children – even though
they did not express that view prior to the
election.                 Real Estate Insights – November 2010
   ROAD TO RECOVERY
The road to recovery will not be a straight upward
path. We’ve seen evidence of that already. This type of
trend – two steps forward and one step back – is likely
to occur in the coming year as well. The underlying
fundamentals of rising demand are present in the
forms of compelling affordability conditions and from
job creation. But while investors appear eager to “get
in” as well, they are being hampered by very tight
mortgage availability for non-owner occupancy loans.
In addition, the hiccups to recovery will also arise
from a flow of foreclosed/REO properties reaching the
market.
                             Real Estate Insights – November 2010
HOMES ARE STILL SELLING!
People are still buying homes. And surveys
have found there are particular reasons
behind these purchases. These include the
desire to own a home, the desire for a larger
home, a change in a family situation and
taking advantage of the home buyer tax
credit, a job-related move, and then the
current supply of affordable homes.

                            Realty Times – November 2010
INVENTORY GRAPH
INVENTORY CHART
DOM & UNIT VOLUME
DOM & UNIT VOLUME
DOM & SOLD PRICE
DOM & SOLD PRICE
VOLUME & PRICE GRAPH
VOLUME & PRICE CHART
SEPTEMBER COMPARISONS
COST OF LIVING
          AFFORDABILITY
Affordability is a combination of home price, interest
rate, and down payment. And with rates at historic lows,
homebuyers have the opportunity to get more for their
money … but if rates go up even a little bit they could
miss out.

Here’s a simple formula that drives that point home. In
simple terms, every 1 percent increase in home loan rates
decreases the buying power by 10% in home price. This
means if you qualify for a home priced at $200,000 today
and home loan rates increase 1 percent, the amount you
could qualify for would be reduced to approximately
$180,000 to maintain the same payment.
INTEREST RATES
  HOUSING RECOVERY
Although the recent trend of rising long-term
borrowing rates may mean higher mortgages
for consumers in the coming months, the
greater obstacles to housing market recovery
are job creation and availability of credit.
Modest changes in mortgage rates are less
important to a housing market recovery than
the number of people who are able to obtain
mortgages.
               National Association of REALTORS – November 2010
STATE BUILDING PERMITS
STATE PERMIT VALUES
BUILDING PERMITS by COUNTY
UTAH BUILDING PERMITS
BUILDING PERMITS
PERMIT VALUES
VALUE in HOMEOWNERSHIP

Even with several years of price declines, the
typical seller who purchased a home eight
years ago experienced a median equity gain of
$33,000, a 24 percent increase, while sellers
who were in their homes 11 to 15 years saw a
median gain of 40 percent. So, once again
buying for the long-term is steering its way
back into value.

                     REALTY TIMES – NOVEMBER 2010
UTAH MARKET REBOUNDING SLOWLY

  While some sectors of Utah’s economy are slowly
  heading toward the rebound track, real estate is still
  not there yet. And some local analysts predict it may
  be a while before it finally finds its way back onto the
  road to stability. The commercial real estate market
  may not even begin to recover until late next year.

  On the residential side, declining home values have
  pushed housing prices back to much more affordable
  levels. The lower end of the market (under $300,000)
  is recovering. The middle part of the market is “a
  little bumpy” with the higher end “going to remain a
  mess for some time to come.”
                                            Deseret News
    WHERE TO RETIRE
In it’s November/December 2010 issue,
concluding their yearlong series called “Ready
for the Rebound,” WHERE TO RETIRE
Magazine spotlights destinations that are
great for retirees and of unusually good buys
in housing. St.George is featured as one of
eight prime desert locales providing
significant savings on active, outdoor-oriented
retirement lifestyle.

				
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