John Allaire

Although $/FT2 is not a perfect measure, this metric provides a good view of the market overall, and helps to identify trends. Listed below is annual data providing a historical snapshot of the Ogden Valley condominium real estate market. A large percentage of recent sales in 2009 are distressed, meaning many are short sales, REO or bank-owned properties.

Year AVG $/FT2

2000 $104/FT2

2001 $106/FT2

2002 $114/FT2

2003 $102/FT2

2004 $145FT2

2005 $173/FT2

2006 $232/FT2

2007 $245/FT2

2008 $198/FT2

* January - March 2009 $137/FT2

* April - June 2009 $154FT2

* July - September 2009 $171/FT2

* October 2009 (5 Condos sold to date) $177/FT2

Please don't hesitate to contact me if I can answer any questions or provide additional information.

Thanks,

John Allaire

Prudential Utah Real Estate - Eden

I wanted to provide an update to the information I posted back in July regarding the status of the Ogden Valley real estate market. The results of the last few months continue to support what I feel represents a bottoming, and new baseline for the Ogden Valley real estate market.

Although $/FT2 is not a perfect measure, this metric provides a good view of the market overall, and helps to identify trends. Listed below is annual data providing a historical snapshot of the Ogden Valley real estate market. As you can see, the period 2002-2004 serves as a good baseline, when SFH home sales prices were very stable. A large percentage of recent sales in 2009 are distressed, meaning many are short sales, REO or bank-owned properties. This is a good test for any real estate market.

Year AVG $/FT2

2000 $90/FT2

2001 $78/FT2

2002 $85/FT2

2003 $84/FT2

2004 $89/FT2

2005 $110/FT2

2006 $150/FT2

2007 $150/FT2

2008 $154/FT2

* January - March 2009 $134/FT2

* April - June 2009 $93/FT2

* July - September 2009 $93/FT2

* October 2009 (10 SFH sold to date) $104/FT2

Please don't hesitate to contact me if I can answer any questions or provide additional information.

Thanks,

John Allaire

Prudential Utah Real Estate - Eden

Just my opinion, but I believe the Ogden Valley (Eden, Liberty, Huntsville) single family home market has finally reached the bottom. I base this on several months of what appears to be support on a $/FT2 basis.

I typically use 2004 as the baseline year, and recent home sales (since April of 2009) have been running very close to that baseline.

Following is a rundown since 2000. Figures below represent home sales on a $/FT2 basis for the full calendar year:

Year $/FT2

2000 $90.16

2001 $78.22

2002 $85.21

2003 $83.99

2004 $88.82

2005 $109.72

2006 $150.25

2007 $150.32

2008 $154.06

*2009 $91.64

* April 1, 2009 through July 19, 2009

I have monthly sales statistics and graphs to back this up if anyone is interested.

Thanks,

John Allaire

Prudential Utah Real Estate - Eden

The attached data and graphs depict sales and price history for all single family homes sold in the Ogden Valley from 2000-2009. For more info, please contact me at John@RockyMountainHomes.net

Chart Below: Ogden Valley Home Sales Data by Quarter 2000-2009

Graph Below: # of Ogden Valley Homes Sold by Quarter 2000-2009, showing sales volume peaking at 36 homes sold in the second quarter, 2005. Federal and state programs recently announced for first time homebuyers and buyers of new construction are expected to have a positive impact on home sales in the Ogden Valley through the remainder of 2009.

Graph Below: Average Price of Ogden Valley Homes Sold by Quarter 2000-2009 reflects a spike to just under $800,000 in average sales price during the first quarter of 2008. This was due to an unusually high percentage of homes (four of the 15) selling for $1 million to $2 million during this period. To date, average home prices in the Ogden Valley have weathered the current economic storm fairly well, but we have begun to see some significant price reductions in the past several weeks.

Graph Below: Average Square Footage (Total, Above Grade, Finished) for Ogden Valley Homes Sold by Quarter 2000-2009. This shows the average size of single family homes sold in the Ogden Valley has remained fairly steady over the past several years. However, the current quarter has seen a significant increase in the average size of homes sold, impacted by distress sales of larger homes in the area.

Graph Below: Average Cost per Square Foot (Total, Above Grade, Finished) for Ogden Valley Homes Sold by Quarter 2000-2009. This shows a recent trend downward in cost/square foot, impacted by larger homes being sold at discounted prices during the first quarter of 2009.

Although the excellent video segments from "UTAH LIVING WITH FIRE" and "Firewise Landscaping For Utah" (links below) were produced and designed for Utah, these are an excellent source of information for anyone living in what is referred to as the "wildland-urban interface", especially those of us who live in the western U.S. The video segments total over an hour of worthwhile information to help all of us better understand what each of us living "in nature" should be doing to minimize the risk of losing our homes (and our neighbors' homes) to wildfire. Most important... this is something all of us should be doing to help the firefighters, police, and other professionals who devote their careers and lives to keeping us all safe!

Video Segments - "UTAH LIVING WITH FIRE":

http://planning.utah.gov/super/Video%20Pages/Living_With_Fire.htm

"Firewise Landscaping for Utah" (PDF):

http://extension.usu.edu/forestry/HomeTown/HO_Firewise.htm

www.RockyMountainHomes.net

John@RockyMountainHomes.net