North Legacy Corridor

Weber County is experiencing tremendous growth and seeing an increasing need 

for new transportation facilities. In 2001 WFRC and UDOT conducted a study on 

the North Legacy project in Davis and Weber Counties. However, the study left 

many issues unresolved in Weber County.   

The Wasatch Front Regional Council, UDOT, Weber County, and local  

governments are conducting a supplemental study to the 2001 North Legacy 

Transportation Corridor Study. The purpose of this study is to identify and      

preserve a corridor for the proposed North Legacy Highway.    

The study team has been working with affected local governments, resource 

agencies, and the public. The study has identified a potential transportation     

corridor to be preserved and has documented concerns and other issues that will 

need to be considered during a future environmental document.  

 

What is a corridor study?  

A corridor study identifies and evaluates potential alignment alternatives for a 

future transportation facility. The study works to develop alternatives that      

satisfy the transportation need while avoiding or minimizing impacts to the     

surrounding communities and environment. Several corridor alternatives have 

been evaluated based on their benefits and impacts on transportation, economic,    

social, and environmental factors.   

Public involvement is important to the study process and community members 

should review the alternatives and provide input to the study team.    

 

What is corridor preservation? 

Corridor preservation protects land identified for a future roadway from  

encroaching development. Early identification of the needed roadway land can 

help reduce project costs by securing the land before its value rises or before it is 

developed. The goal of the North Legacy Transportation Corridor Supplemental 

Study is to establish a corridor that cities and Weber County agree upon and will 

incorporate into their transportation master plans. Coordinating land use and 

transportation planning can offer win-win results by allowing UDOT and local 

governments to acquire corridors which are less expensive and also allowing land 

owners to gain a higher value of their remaining land upon development. 

 

When will North Legacy in Weber County be built? 

Funding has not been identified for the project and a construction timeline has 

not been decided. Currently, the project is listed on the WFRC regional         

transportation plan for possible construction in 20 to 30 years.     

 

How can I get more information? 

If you would like more information about the project, please contact  

Amy Steinbrech at 801.364.0088 ext. 109 or at amy@wfandco.com. Comments 

can be submitted by downloading a comment form at the Wasatch Front        

Regional Council Web site (www.wfrc.org).   

 

 

Barbecue Safety

For many homeowners, nothing symbolizes summer quite like getting outside and grilling up some tasty treats on the barbecue. As we dust off our hamburger flippers and prepare for another grilling season, however, it’s important to remember that when used or maintained improperly, barbecues can cause serious damage to property and to people. Here are a few simple recommendations to help keep your family safe as you enjoy your barbecue this summer:

Positioning the Grill Position your grill a minimum of five feet away from the house and any flammable objects in your yard. Make sure your grill is stable and on level ground, so there is no risk of it toppling over. Grills or stoves should be situated far enough from the windows and doors so that smoke from cooking will not waft inside. Burning charcoal produces carbon monoxide which is highly toxic, so never burn charcoal in any kind of enclosed area.

Proper Use & Maintenance: Check for grease build-up and clean your dripping pan frequently, as excessive grease can cause unexpected flare-ups. If you have a gas grill, remember that propane tanks require sophisticated valve equipment to keep them safe for use. To check your hoses and connections for gas leaks, spray them with soapy water and look for bubbling. Remember to close the tank valve when you’re finished using it. Check for rusted and corroded burners. These parts wear out quickly, but they are easy to replace. If your grill bottom has vent holes, be certain that it also has an ashcan to catch hot embers that might fall through onto the surface below. Embers and coals should be completely extinguished before disposal. Coals can smolder for hours and can cause fires if thrown away with flammable materials. Always store propane tanks outside in a well-ventilated area.

Pushy Real Estate Agent

What’s your biggest fear when you agree to work with a real estate agent? It’s simple. You worry about being locked into a lengthy contract/agreement with a less-than-competent real estate agent, costing you time and discomfort.

Well, worry no more. RedSign.com takes the risk and the fear out of working with a real estate agent. How? Through this EASY-EXIT Agency Agreement.  When you buy or list your home through RedSign’s EASY-EXIT Agency Agreement, you can cancel your listing or buyer contract with your RedSign agent at any time, so long as this agreement is signed by both yourself and your RedSign Agent. No hassles. It’s easy.

• You can cancel your contract anytime

• You can relax, knowing you won’t be locked into a lengthy contract

•  Enjoy the caliber of service with enough confidence to achieve all your real estate goals

TheRedSign.net has strong opinions about real estate service. We believe that if you are unhappy with the service you receive, you should have the power to fire your agent.

It takes a strong belief in the quality of one’s service to make this kind of stand, but RedSign.com never settles for less than the highest professional standards from itself and its agents or staff. We are confident you will be happy with our service and results.

By signing this Easy-Exit Agency Agreement, you will be enabled to terminate your Agency Contract with your RedSign Agent at any time.

To begin your home search with a Red Sign agent (who isn’t pushy), please call 801-358-0970

WE ARE GETTING A LITTLE RELIEF AFTER “ SHOCK AND AWE”

Update on interest rates

Rates have been inching down since last week’s update.  A pattern seems to be forming.  At first it was feared that any improvement was just a breather before things got worse.

It looks like the improvement may be a trend.  Remember that when rates go up, it’s like a rocket. When rates come down, it’s like a parachute.  The mortgage wholesalers took a beating on the loans that were in the pipeline when rates went up. When it was time to sell those loans to the secondary market,  they had to sell them at a huge discount to make up for the new higher rates compared to when the loans had been originally locked.

The wholesalers are reluctant to pass on improved rates after an episode of spiking rates. They will want to make up some lost profits, and they will want to re-gain confidence that a wild spike in rates will not happen again right away.

Here are some indicators that maybe these rates will continue to improve a little.

1. Yesterday the inflation numbers came in quite tame.  (The mischief out there will be oil prices).
2. The Fed’s Kevin Marsh today was warning investors from too much optimism in the economy rebounding very quickly.  There seems to be a consensus the recovery will be quite gradual.  This is also good for controlling inflation.
3. The Mortgage Backed Bonds today has broken above the 200 day moving average which is considered to be a very firm ceiling of resistance to improvement.  This has held all day long and is a hopeful sign.

WHAT  WE’RE TELLING OUR CLIENTS

1.      Rates have come back down from the high 5’s  to the mid,  and a littler lower 5’s.    There should be time for a buyer to get out there, find the right deal, and lock in these rates before they change.

2.      Remember that the Utah Home Run Grant  ( $6,000  ) is all used up.  I spoke with one the members in the Utah State Senate a couple of weeks ago and  he indicated that there will be no more money available for that program.

3.       Remember that time is running out for the $8000  first time home buyer’s tax credit.  There is less than 5 months left to close on a house and claim this free money.

To find out if you qualify for a loan  please fill out our form here.

Utah Housing Market 2009 (Utah County)

	# of active listings	# of active Bank/Short Sales	% of Total Listings as Bank/Short Sale	# of New listings in last month	# of Under Contracts in last month	# of closings in last month	# of months inventory
12-Jan-09	4242	640	15.1%				22
19-Jan-09	4277	652	15.2%				25
26-Jan-09	4357	637	14.6%				53
2-Feb-09	4341	646	14.9%	983	284	183	24
9-Feb-09	4383	661	15.1%	991	316	182	24
17-Feb-09	4338	645	14.9%	926	340	179	24
23-Feb-09	4364	664	15.2%	891	355	207	21
2-Mar-09	437	680	15.7%	876	341	210	21
9-Mar-09	4472	706	15.8%	958	334	268	17
17-Mar-09	4475	694	15.5%	1002	402	300	15
23-Mar-09	4458	681	15.3%	985	417	297	15
30-Mar-09	4440	673	15.1%	983	476	288	15
7-Apr-09	4444	669	15.0%	989	498	292	15
13-Apr-09	4430	659	14.9%	949	498	282	16
20-Apr-09	4412	657	14.9%	924	531	278	16
27-Apr-09	4413	650	14.7%	916	520	284	16
4-May-09	4371	879	20.1%	938	551	338	13
11-May-09	4340	879	20.3%	901	544	345	13
18-May-09	4388	887	20.2%	945	539	345	13
25-May-09	4416	886	20.1%	972	580	353	13
6-Jun-09	4445	859	19.3%	1006	1580	385	12
13-Jun-09	4414	855	19.4%	979	1575	430	10
20-Jun-09	4349	857	19.7%	832	1390	422	10
27-Jun-09	4360	866	19.9%	846	565	435	10

Utah Housing Market-Trending 2009 (Salt Lake County)

	# of active listings	# of active Bank/Short Sales	% of Total Listings as Bank/Short Sale	# of New listings in last month	# of Under Contracts in last month	# of closings in last month	# of months inventory
12-Jan-09	7510	1087	14.5%				20
19-Jan-09	7551	1105	14.6%				32
26-Jan-09	7614	1109	14.6%				43
2-Feb-09	7559	1108	14.7%	1802	613	359	21
9-Feb-09	7682	1110	14.4%	1910	664	391	20
17-Feb-09	7601	1107	14.6%	1798	731	417	18
23-Feb-09	7627	1100	14.4%	1695	742	441	17
2-Mar-09	7652	1088	14.2%	1752	743	484	16
9-Mar-09	7738	1046	13.5%	1769	748	536	14
17-Mar-09	7790	1037	13.3%	1872	84	580	13
23-Mar-09	7870	1058	13.4%	1921	825	575	14
30-Mar-09	7844	1032	13.2%	1851	868	537	15
7-Apr-09	7776	1023	13.2%	1933	961	636	12
13-Apr-09	7811	1007	12.9%	1855	995	601	13
20-Apr-09	7804	1011	13.0%	1792	1036	606	13
27-Apr-09	7826	1009	12.9%	1808	1053	621	13
4-May-09	7721	1303	16.9%	1775	1088	710	11
11-May-09	7662	1292	16.9%	1683	1090	744	10
18-May-09	7675	1330	17.3%	1677	1122	764	10
25-May-09	7694	1327	17.2%	1717	11141	785	10
6-Jun-09	7703	1336	17.3%	1828	3014	915	8
13-Jun-09	7702	1338	7.4%	1910	3104	972	8
20-Jun-09	7682	1339	17.4%	1743	2825	903	9
27-Jun-09	7707	1359	17.6%	1803	1115	850	9

The 89 Day Promise

We’ve had several people ask us about the “89 Day Promise”.  This is a promise to sell your home in 89 Days or we’ll buy it.  The RedSign Team is excited to also announce it’s ability to make this promise as well.

However, we would like to make it very clear how this promise works to make sure our clients are clear and to help other people understand what this promise means if another agent offers something similar.

There are a lot of agents who are now making a promise or guarantee to sell your home in 89 days or they will either buy it, not charge you a commission, or pay you a certain amount of money.

The key is pricing.

When your home is priced right, it will sell regardless of all other considerations. We at REDSIGN can make a guarantee to sell your home in 89 days if you simply price it a price that we know will cause it to sell within that time. We would like to educate you on the current market value of your home. By providing you with solid facts, we help you understand the need for pricing competitively  in Utah’s market.

If you would like to sell  you home within 89 Days please call us at 801-358-0970.

Staging Your Home To Sell

Want to sell your home quickly for top dollar? Staging can help. Staging is presenting your home in its best and most appealing light to the majority of home buyers. Although many think staging is hard and costly, in reality it is very simple. Here are 5 rules on how to stage your home for a quicker sale.

#1 – Clean. Your home must sparkle! Buyers will appreciated the cleanliness of your home. The little things like dusting underneath a picture frame and cleaning water spots off of the windows can make a huge difference. 

#2 – Fix. Got a dripping faucet or a cracked tile? These will send the wrong idea to the buyers. Getting them fixed before you put your hours on the market is a smart idea. 

#3 – Eliminate Clutter. The “50% Rule” requires that you eliminate the clutter in your home by at least half. This may be the hardest rule of all! Even though we love our clutter– it reflects memories, hobbies and vaules– it doesn’t sale homes. Clutter makes the home seem smaller and disorganized. 

#4 – Executive Neutral. Neutral colors sell. Potential buyers walking through your home want to imagine themselves as the owners. If you use stylers or colors they would never select, you’ve just turned them off. Staying high-quality, but neural is safest. 

#5 – De-personalize. Remove Objects that your potential buyers won’t be able to identify with. For example, political and religious items may turn off whole groups of buyers, because they cannot “imagine” your home as their home. Buyer a home is an emotional decision, and you want potential buyers to make an emotional connection with your home by being able to “see” themselves in it. 

Some Specifics.

The entrance is the first glimpse insides your home. It should give potential buyers, uplifting feelings. Make your entry as light and bright as possible.

Kitchens sell homes, so the importance of making your kitchen appealing can’t be underestimated. Clean and de-clutter! Anything taking up counter or floor space must go. Anything displayed on the refrigerator must go. 

Bathrooms. Again, clean and de-clutter! You absolutely must get rid of any mildew or mold. Do not display any personal toiletry items! Remove all deodorant, mouthwash, electric toothbrushes, etc. and put them in your cabinet. 

As for the rest of the house, clean, repair, de-clutter, and de-personalize! You’re going for that Executive but neutral look, since everyone else can “see themselves” in a home like that. 

An easy way to see effectively staged homes is to visit decorated model homes. Builders will invest into staging their model homes, because they understand just how well a staged home sells. Using these tips provided can really change how quickly your home sells and at what price it sells.

LAST WEEK’S OMINOUS CLOUDS – IT WAS A DOWN POUR

Last Wednesday has gone down in  bond market history as “black Wednesday”.  Over a several day period  the Mortgage Backed Bonds  market dropped well over 300 basis points  ( 20 basis points can trigger a re-price for higher rates). We saw mortgage rates  jump as much as ½%

 

On Friday there was a “dead cat bounce”  where a lot of bond investors jumped back in to pick up bonds with the  lower prices.  All of that bounce went away yesterday.

 

This week, we don’t have to contend with the Treasury auctioning   one hundred billion in treasury notes.  Most of  the pressures from last week are still in place to drive up rates.

 

When is good news bad?

 

Today the National Association of Realtors announced that existing home sales was up 6.7% in April  . It had been expected to be  + 0.5%.     This is great news for you guys out there selling homes, but this will push interest rates up.

 

When is bad news bad?

 

All the international news about replacing the U.S. Dollar as the world reserve currency is being pushed  by those who would like to un-seat the U.S.  as the world’s super power.  They  are using the inflationary pressures of trillions of Dollars of deficit spending, including the bailout spending,   to question the viability of the  U.S. Dollar.    Mere discussion about replacing  the Dollar  weakens it’s  strength, and weakens our economy.

 

Hurray for Geithner.  Today  Bloomburg.com announced that in talks between Timothy Geithner  and Chinese officials,  the U.S. Dollar will remain the world reserve currency for a long time.  This is a major switch from China’s rhetoric from a few weeks ago. This is especially welcomed on the day that Russia is calling for a new world reserve currency to replace the Dollar.  ( I suspect that Geithner reminded the Chinese that if they undermine the value of the Dollar that it will also undermine the value of all of the money that they have loaned to the U.S.).

 

But—- there has been recent talk that if the all of the stimulus efforts are awakening the economy  ( vs. just avoiding a depression)  it will be necessary to quickly unwind the stimulus efforts.

 

A big part of  rising mortgage interest rates comes from China, and others, who are more active in purchasing short term debt from the U.S in place of the longer term debt.  This is so they can hedge against inflation and not be trapped in long term bonds that lose value when interest rates go up.  Without the investors being attracted to long term ( 30 yr ) bonds the only way to sell them to provide the money to finance homes is to raise the interest rates. 

 

 

Watch Friday’s  employment numbers.  Better than expected = higher  rates .  Worse than expected = lower rates, otherwise we can expect a little improvement as the shock of last Wednesday wears off. 

 

Also, watch the stock market. If the recent run up in stocks proves to be an un-supportable exuberance,  a downward adjusting stock market will help rates.

 

WHAT WE ARE TELLING OUR BUYERS:

 

1. The great deals that are out there won’t last  ( remember the 6.7% increase in sales)

2.        Rates are still great.  Mid  5 s      (  this could change quickly without warning )

3.        Now is the time if you want to  upgrade to that dream house.

4.        Now is a great time to buy a first home with the $8000 tax credit.

5.        Good starter homes seem to be holding their values. Many have multiple offers. Don’t wait till the prices go up.

6.        If you have a job,  pay your bills,  you most likely can get a loan.

7.        It costs nothing to find out if you qualify.

Salt Lake Housing Market Bottoms Out

Its true! For the last year and a half we’ve been seeing home prices in Salt Lake take a literal plunge into oblivion. Yet, as more and more positive economic news has poured in, we’ve begun seeing a recovery right here in Salt Lake’s housing market.

The Proof is in the Pudding

Take a look at the graph at the left from AltosResearch, the internet’s most comprehensive real time housing data.

The graph shows Salt Lake’s Median Price Index. As you can see, it has taken a steep plunge for the last year and a half. But if you follow the graph all the way down to the very bottom, you’ll see a nice surprise at the end. The graph shows that the median price (thats the average price for all of Salt Lake) has risen through the month of May.

This is a big deal! This is proof that what REALTORS and others in the real estate industry have been feeling for the last few months is really happening. There has been a shift in the market for positive change. Whether you’re an investor looking to time the market, or just a smart homebuyer looking to buy a home at the right time, now is your moment.

Contact a RedSign agent today to begin the journey to obtaining one of your greatest financial assets!