Only 2 Months Until Ice-Off!

 November 2010, floating the Green River...  I seem to be catching the small ones !

 Friend, Steve Drakulich, with one of the Weber River catches...

The trout are beautiful on the Green River... It began to snow shortly after this catch!

Since I haven't ice fished around here, all I can do is tie flies waiting for the weather to change.  It's only about 2 months before "ice-off" fishing begins!    If you have never gone fishing during ice-off, you are in for a treat.  It's when the ice begins to melt off a lake, exposing water around the edges of the lake.  The open water may only be about 10 yards wide, but it becomes a great time to fish for the big ones that have been "hibernating" all winter.  They are ready to feed and I am ready to feed them!

Could Interest Rates On Homes Be Moving Up?

Long-term mortgage rates ticked up slightly as some relatively good news came out for the housing market. While the housing market continues to struggle, every small step is one step closer to a full economic recovery.

Existing home sales climbed 12.3% last month, with the inventory levels dropping to 8.1 months of available homes at the current rate of sale.

This week could be an interesting week for mortgage rates. While we may see some upward pressure on rates from last week, we have a few significant items that could push rates further upward. The Feds meet again, and will release its policy statement on Wednesday. While no rate change is expected, a shift in the Fed's stance on the economy to a more prositive position, could help propel mortgage rates higher.

Additionally, the first GDP estimate for the last quarter of 2010 is due. If GDP comes in higher than 3.6%, we should see mortgage rates moving higher by the end of the week. Of course, if econmic data this week disappoints, mortgage rates will tend back downward again.

Want to Live in the Alpine - Pleasant Grove Area? Here are the Average Prices.

The following numbers were compiled by analyzing homes that are either under contract or have sold within the last 90 days, built after 1995, and with a listing or sold price between $250,000 and $450,000, for the various cities below.

They reflect the Average Price per Square Foot for both the total square footage of the home, and the averaqe finished square footage price.

Alpine:
6 homes sold.
For total sq. footage: $67 per sq. ft.
For finished sq. footage only: $92 per sq. ft.

American Fork:
12 homes sold.
For total sq. footage: $83 per sq. ft.
For finished sq. footage only: $111 per sq. ft.

Cedar Hills:
15 homes sold.
For total sq. ft: $73 per sq. ft.
For finished sq. ft.: $101 per sq. ft.

Highland:
30 homes sold.
For total sq. ft: $86 per sq. ft.
For finished sq. ft: $131 per sq. ft.

Lindon:
6 homes sold.
For total sq. ft: $78 per sq. ft.
For finished sq. ft: $78 per sq. ft.

Pleasant Grove:
24 homes sold.
For total sq. ft: $75 per sq. ft.
For finished sq. ft: $102 per sq. ft.

Average for all cities combined (i.e. Northern Utah County less Lehi):
93 homes sold.
For total sq. ft: $77 per sq. ft.
For finished sq. ft: $103 per sq. ft.

If you are buying or selling within these areas, these numbers should be valuable information for you. Of course, no two homes are alike and your price will be based upon the needs and the perceived value of the home.

data compiled by Kraig Moll April 16, 2010.

Rates Going Up! Told You!

As I predicted a week or so ago when the government stopped buying mortgage backed securities, the rates are beginning to rise (at 5.2% for 30 yr fixed right now).

Next week will be very interesting because the economic reports for Retail Sales and Industrial Production are due out. If these reports come in as expected, we should see rates continue to climb.

BUY YOUR HOME NOW!

Good Home Buys??

They all have air conditioning, views, and interesting locations! Maybe not the best buys, but they were nice to take pictures of.

No Flood Insurance Means No Home Buying or Selling!

The NFIP (National Flood Insurance Program) has expired as of the end of March, and Congress has not decided whether or not to renew the program. So what????

If you live in a Army Corps of Engineers designated flood zone, don't expect to be able to refiance your mortgage or sell your home for that matter. No lender will insure it unless it has flood insurance, which is no longer.

Don't expect to buy a home in a designated flood plane area because your lender will not approve the loan without flood insurance, of which there is none now.

$8,000 Tax Credit. It's Over People....

April 30th and counting. If you are not under contract on a new home you are buying, you've got just days to do so.

All word coming from the government is that the Tax Credit Will Not Be Extended. According to government sources like Johnny Isakson, U.S. Senator from Georgia (chief sponsor of the tax credit), results were "less than disappointing at best".

No more $8,000 or $6,500 give away...