Salt Lake Market Ranked #5 in Nation for Appreciation

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The Office of Federal Housing Enterprise Oversight (OFHEO) released it’s report about real estate appreciation today and Salt Lake ranks fifth in the nation with a third quarter appreciation of +2.44%, a year-over-year increase of +13.37% and a 5 year appreciation of +60.17%.

Some people think since we aren’t breaking records right now the market must be bad, but in Salt Lake City we’re back to a normal market- other than having so much frickin’ inventory on the market. But good news- the number of active listings on the market actually started to go down a few weeks ago and has continued- finally!

Provo ranks #2, Logan ranks #11, Ogden ranks #4, and Salt Lake City ranks #5 in the report.

 

From the MSN report:

Prices are still rising in many areas. Texas, North Carolina, Washington and Utah put four cities from each state making the 20 best-performers list.

City rankings are listed by metropolitan areas. The OFHEO’s House Price Index is published on a quarterly basis and tracks average house-price changes in repeat sales or refinancings of the same single-family properties. The index is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 30 million repeat transactions over the past 30 years.

Although there are still 1000 homes selling every month in SL county, pent-up demand caused by many buyers waiting and watching, along with our incredibly strong local economy and record-low unemployment should fuel a healthy housing market in Salt Lake again next year.

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Speaking at NYC Inman Connect Jan 9th-11th

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The annual New York InMan Connect Conference will be January 9th through the 11th, hosted at the The Marriott Marquis in Times Square. 

I’ll be speaking at the event in a session titled, “Tapping New Methods for Finding Buyers.”

From the InMan Speakers page;

Real Estate Connect provides the highest quality content and speakers to create an unparalleled learning and interactive experience. Speakers include prominent executives, entrepreneurs and innovators from real estate, mortgage, finance and technology’s leading companies. In addition, you’ll find the celebrated and controversial, including key journalists, authors, influential bloggers, and visionaries who track industry trends.

Featured speakers at Real Estate Connect NYC 2008 include:

  • Rudy Bachraty, Co-Founder, Sellsius & Founder, Kiosk Realty
  • Simon Baker, CEO & Managing Director, REA Group
  • Jeffrey Bastress, President, Startpoint Realty
  • Kris Berg, Broker Associate, Prudential California Realty
  • Teresa Boardman, Realtor/Broker, Keller Williams Integrity Realty
  • Kevin Boer, Founder, 3 Oceans Real Estate Blog
  • Brian Brady, Managing Director, Worldwide Credit Corporation
  • Joleen Brannigan, Chief Operating Officer, Grace Hill
  • Frank Breithaupt, VP of Marketing, Affiliates and Operations, Homescape
  • Chris Brown, Vice President Product Development, Apartments.com
  • P. Morgan Brown, Chief Operating Officer, New Day Trust Mortgage
  • Joel Burslem, Social Media Manager, Inman News
  • Jonathan Butler, Founder, Brownstoner Media, LLC
  • David Cardwell, VP of Capital Markets & Technology, National Multi Housing Council
  • David Charron, President & CEO, MRIS, Inc.
  • Sherry Chris, President & CEO, Better Homes and Gardens Real Estate
  • Walt Clark, Sr. Vice President, Transaction Management Solutions, Fidelity National Real Estate Solutions
  • Renwick Congdon, Chief Executive Officer, IMPREV
  • Jeff Corbett, Author, The XBroker Blog; President, RealEspace
  • Matt Corgan, Director of Technology, HotPads
  • Tamela Coval, Director of Business Development, Apartment Guide
  • Marc Davison, Partner, 1000Watt Consulting
  • Jason Doyle, Division Vice President, Homes.com
  • Jim Duncan, Realtor/Real Estate Consultant, Real Central VA
  • Thomas Evans, President & CEO, Bankrate, Inc.
  • Robert Eychner, President, Eychner Associates; 2007 President, Manhattan MLS
  • Richard Ferrari, Senior Vice President, Prudential Douglas Elliman
  • Dr. Mark Fleming, Chief Economist, First American CoreLogic
  • Pete Flint, Co-Founder & CEO, Trulia
  • Michael Fortinberry, President, CrossFire Sales & Marketing Systems
  • Marty Frame, Chief Information Officer, Fidelity National Real Estate Solutions
  • Lloyd Frink, President, Zillow
  • Hector Gavilla, President, DiamondHomeVideos.com
  • Jamie Glenn, Vice President, Product Management, Trulia
  • Matthew Goldstein, Chief Operating Officer, LifeAt
  • Kate Good, Marketing Solutions Expert, KateGood.com
  • Dan Green, Chief Blogging Officer, Bring the Blog
  • Matthew Haines, Founder & Chairman, PropertyShark.com
  • Bob Hale, President & CEO, Houston Association of Realtors
  • Matt Heaton, Chief Executive Officer, ActiveRain
  • Douglas Heddings, Senior Vice President, Prudential Douglas Elliman
  • Dottie Herman, President & CEO, Prudential Douglas Elliman
  • Erik Hersman, Principal, Zungu LLC
  • Edward Herson, Vice President, Halstead Property, LLC
  • Glenn Houck, Co-Founder, LeadQual LLC
  • Bradley Inman, Publisher, Inman News
  • Brendan King, Chief Operating Officer, Point2
  • Pat Kitano, Managing Principal, Domus Consulting Group
  • Saul Klein, President & CEO, InternetCrusade
  • Tom Kunz, President & CEO, Century 21 Real Estate LLC
  • Brendon Kraham, National Sales Manager Classifieds, Google
  • Brian N. Larson, Attorney at Law; President of Larson/Sobotka Business Advisors, LLC
  • Mark Lefanowicz, President, E-LOAN
  • Corey Leong, Founder & President, Real Estate Metaverse Association
  • Mark Lesswing, Sr. Vice President & Chief Technology Officer, National Association of REALTORS
  • Pamela Liebman, President & CEO, The Corcoran Group
  • Dustin Luther, Director of Interactive Marketing, Move, Inc.
  • Dave Marron, Chief Executive Officer, SphereBuilder, LLC
  • Rob Massey, Jr., CPM, Founder of RentalHouses.com & Vice President of Industry Development
  • Alexis McGee, President & Author, Foreclosures.com
  • David Michonski, Chief Executive Officer, Coldwell Banker Hunt Kennedy
  • Jonathan Miller, EVP, Director of Research, Radar Logic Inc., Co-Founder, Miller Samuel
  • Alex Montalenti, Co-founder & CMO, SubmitYourListings.com
  • Heidi Mueller, Broker Associate, Prudential California Realty
  • Oliver Muoto, Co-Founder & Vice President Business Development, vFlyer
  • Carter Murdoch, Senior Vice President, Bank of America
  • Vikki Neil, Vice President, Real Estate, Scripps Networks Interactive
  • Dave Nelson, Founder & CEO, TalkShoe
  • Craig Newmark, customer service rep & founder, craigslist.org
  • Reggie Nicolay, MyTechOpinion
  • Martin Nisenholtz, Sr. VP, Digital Operations, The New York Times Company
  • Cameron Paine, Chief Executive Officer, Connecticut Multiple Listing Service, Inc.
  • Stan Ponte, President, Previews Marketing Division, Coldwell Banker Hunt Kennedy
  • Mike Price, President, ML Broadcast
  • John Reinhardt, President & CEO, Fillmore Real Estate
  • Barry Ritholtz, Chief Market Strategist, Ritholtz Research & CEO; Director of Equity Research, Fusion IQ
  • Greg Robertson, Executive Vice President, Sales & Marketing, eNeighborhoods
  • Alison Rogers, Author & Inman News Columnist
  • Noah Rosenblatt, Founder, UrbanDigs.com; Licensed RE Salesperson, Citi-Habitats
  • Laurence Rosenberg, President, Rent-Direct.com
  • Brian Rothenberg, Product Manager, Yahoo! Real Estate
  • Professor Nouriel Roubini, Co-Founder & Chairman of RGE Monitor; Professor of Economics, New York University’s Stern School of Business
  • Kaira Sturdivant Rouda, President, Real Living
  • Rick Sharga, Vice President of Marketing, RealtyTrac
  • Dr. Michael Shermer, Founding Publisher, Skeptic Magazine & Executive Director, Skeptics Society
  • Ryan Slack, Chief Executive Officer, PropertyShark.com
  • Lori Snider, Principal, Creativity for Rent
  • Andrew Ross Sorkin, Assistant Editor, Business & Finance, Chief Mergers & Acquisitions Reporter, The New York Times
  • Steve Sorti, Senior Vice President of Marketing, Fox & Roach/Trident
  • Steve Spinola, President, Real Estate Board of New York
  • Celeste Starchild, Vice President Broker Sales, Threewide Corporation
  • Lockhart Steele, Founder & Publisher, Curbed.com
  • Christian Sterner, CEO & Founder, Wellcomemat
  • Patrick F. Stone, Chairman, The Stone Group
  • Jessica Swesey, Vice President of Content, Inman News
  • Jay Thompson, Designated Broker, Thompson’s Realty
  • Robyn Tippins, Community Manager, MyBlogLog, Yahoo!
  • Greg Tracy, Founder/Owner, Blueroof.com
  • Lisa Trosien, President, Apartmentexpert.com
  • Jon Tull, President, Lead2Lease
  • Jeff Turner, President, RealEstateShows.com
  • John H. Vogel Jr., Permanent Adjunct Professor, Tuck School of Business at Dartmouth
  • Becca Wilson, President, Spherexx.com
  • Brian Wilson, Founder, Zolve
  • Marilyn Wilson, Founding Partner, WAV Group
  • Michael Wurzer, President & CEO, FBS Data Systems
  • Michael Yang, General Manager, Yahoo! Real Estate
  • Charlie Young, Chief Operating Officer, Coldwell Banker Real Estate

If you are in the real estate industry, these events are the best way I know to learn what’s going on and what’s coming up next in real estate. There are always top industry leaders, great sessions and a bunch of fun meet-and-greets. Connect is where real estate meets technology- so it’s about innovation and breaking new ground, something that brokerages are not historically know for.

See you there…

Why Do People Move?

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According to the 2006 Census Bureau American Housing Survey, more than 19.3 million Americans moved last year.

3,051,000 moved to establish their own residence (1.2 million changed from renter to owner)

2,869,000 needed a bigger place

2,308,000 moved for a new job or job transfer

2,330,000 wanted to be closer to work or school

2,792,000 wanted a better place

476,000 moved because they got married

588,000 moved because they got divorced

53% had their expenses go up when they moved

23% had their expenses go down

24% stayed the same

5,335,000 say they chose the neighborhood based on it’s convenience to work

4,375,000 chose the neighborhood because it was close to friends or relatives

4,916,000 liked the look of the neighborhood

Factors in selecting the home they moved to were;

6,733,000   Financial reasons
5,819,000   Room layout/design
1,264,000   Kitchen
5,013,000   Size
2,463,000   Exterior appearance
2,614,000   Yard/trees/view
1,926,000   Quality of construction
1,285,000   Only one available
4,047,000   Other

Of about 109 Million homeowners in the survey, over 58 Million say they pay less than $99/month for maintenance and upkeep of their home (3.5 Million say they spend over $200/month).

The Median Household income in America is $44,503

12% of the people in the survey bought their home with no money down

Square footage of 76,936,000 homes in the survey;

622,000       Less than 500 Square Feet
  1,775,000   500 to 749 
  4,959,000   750 to 999 
18,135,000   1,000 to 1,499
18,035,000   1,500 to 1,999
12,559,000   2,000 to 2,499
  6,565,000   2,500 to 2,999
  5,932,000   3,000 to 3,999
  3,662,000   4,000 or more
  4,691,000   Not reported
      (1,795  Median Square Feet)

Heating Supply

32% of homes are heated with electricity

58% of homes are heated with gas

1.3% of homes are heated with coal or wood

15,000 homes are heated with solar power
 

My Thanksgiving Feast

          

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(originally posted Nov.22, 2006) 

Thanksgiving is my favorite holiday of the year. It’s all about family and friends and just being thankful for everything that we have. I don’t really care about the pilgrims and indians or any of that- for me it’s simply a time to take pause and remember our blessings.

Most holidays have become so commercialized they’ve taken on new meanings for people. I like all of the holidays, but Thanksgiving is just special.

Christmas becomes about the gifts and the tree, Easter is about the hunt or the dress or the basket of goodies, Halloween is about the costumes and decorations, New Year’s about the party, St Patrick’s about the bar, Valentines about the gift, The Fourth of July is about the fireworks, but Thanksgiving… it’s about the feast. The gathering of family and friends. Where we sit down together, watch a football game or play family games and experience life together, even if for only a little while.

I am thankful- This year more than ever. Here are a few things I am thankful for…

My huge family of beautiful, healthy children and the most wonderful wife imaginable. At the end of the day I get to come home to a full house and hear laughter, love and a lot of very annoying noises.

The rest of my family. Most people have fun stories about how disfunctional their families are, but I don’t have any drunk uncles, one-legged cats or abusive parents. My family is boringly perfect. I’m amazed and overwhelmed by the abundance I have been surrounded with my whole life.

Great friends. One of my greatest fortunes has been my ability to hang around the right people. Some of my closest friends have been in my life since we were kids. Some came into my life later, but I feel like I’ve known them forever- and their friendsip and loyalty is amazing.

            

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I’m thankful to have my company. A company is all about people, and this one has good people doing good things. I’m excited for our future together. The experience of starting my own company. Having success, failure, pressure, excitement, anxiety, experience, passion, drive, vulnerability, and the craziness that comes along with a start-up is trying but worth it.

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My teams- The Colts, the Utes and the Jazz. Sports give me a break from life and it’s always fun to cheer on your team as they’re kicking some butt.

     

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Living in Utah, and the west, where there’s room to stretch your legs a bit and take road trips without traffic. I’m thankful for America and the freedom I enjoy. Being able to voice frustration about, and make fun of, our politicians and leaders- that alone makes this country pretty great.

I’m not religious, but I’m spiritual and I’m thankful for God and my life and the the air in my lungs. I’m thankful for this world and even though it’s getting smaller it’s still pretty darn big to me- I have a lot to see.

Some things off the top of my head that I am thankful for;

My home, Sundays, the rain, a good cup of coffee, karma, a margarita with nachos, Hana, Orion, comedies, the smell of fresh-baked bread, one-on-one conversations, hotel bars, enthusiasm, and those people who have helped me when I needed it most in my life- Ed, Dougan, Debbie- Thank you.

I hope you all have a fun and safe holiday with those you love. Cheers!

Healthiest States in the Nation

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According to a report launched today by United Health Foundation, the American Public Health Association (APHA) and Partnership for Prevention(TM), the overall health of the nation is down .03% from last year, but has remained relatively the same for the past six years.

The report shows there have been modest gains in reducing the rates of cancer and cardiovascular mortality, however other factors have stayed the same or risen, including increased obesity rates, increasing numbers of uninsured people, children in poverty and the persistence of risky health behaviors, such as tobacco use and violent crime. All of these factors contribute to the overall healthiness of the nation and are all determining factors in the rankings. Other factors include smoking, violent crime, binge drinking, infectious disease, health status and several measures of mortality.

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Utah ranks sixth in the nation for the second straight year and Vermont takes the top spot from Minnesota, which falls from first place for the first time in five years, to second place overall. Utah was particularly strong with it’s low levels of violent crime and low levels of binge drinking. The state also has a high graduation rate, which factors into the report.

According to the US Census Bureau, the number of Americans who are uninsured has increased from 13.4 percent in 1990 to 15.8 percent of the population today- meaning that over 47 million Americans are without health insurance (including over 9 million children). The Institute of Medicine (IOM) attributes 18,000 deaths per year to people under age 65 due to lack of insurance coverage.

Since the first report in 1990, the nation’s health shows an overall improvement of 18.4%, most stronlgy attributed to the reduction of several health determinants, such as infectious diseases, smoking, infant mortality, cardiovascular deaths and violent crime, and fewer children living in poverty.

Over the last six years, however, the nations health has stayed relatively the same, with this year showing a .03% decline from last year’s report. The biggest concerns continue to be the nations obesity levels, which have risen from 11.6% of the population being obese in 1990 to 25% meeting that classification today. Obesity, of course, contributes to heart disease, diabetes, stroke, and cancer.

The average life expectancy of Americans (77.9 years) is now at it’s highest level ever, yet is still lower than 43 other countries. Japan leads in the world in life expectancy at 82 years.

The complete rankings are below;

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