Cottonwood Heights, UT

When the first pioneers saw The Great Salt Lake they make a mistake and mistook it for the Pacific Ocean. The Great Salt Lake is immense, beautiful, and very beneficial to Salt Lake City and all of Salt Lake County and beyond. The winds, the climate, the Lake effect, and more are what makes Salt Lake City real estate and homes in Cottonwood heights so pleasant all year round. The mountains work in harmony with the Great Salt Lake to create ideal weather conditions for many difference reasons.

The Great Salt Lake is the largest salt lake in the western hemisphere, the fourth-largest terminal lake in the world, and the 37th-largest lake on Earth.In an average year the lake covers an area of around 1,700 square miles, but the lake's size fluctuates substantially due to its shallowness. For instance, in 1963 it reached its lowest recorded level at 950 square miles, but in 1987 the surface area was at the historic high of 3,300 square miles

The lake is the largest remnant of Lake Bonneville, a pluvial lake which covered much of western Utah in prehistoric times. The Great Salt Lake is endorheic (has no outlet besides evaporation) and has very high salinity, far saltier than sea water. The Jordan, Weber, and Bear rivers (the three major tributaries) deposit around 1.1 million tons of minerals in the lake each year, and the balance of evaporated water is mineral-free, concentrating the lake further. Because of its unusually high salt concentration, most people can easily float in the lake as a result of the higher density of the water.The lake's shallow, warm waters cause frequent, sometimes heavy lake-effect snows during late fall, early winter, and spring. The Great Salt Lake is a remnant of a much larger prehistoric lake called Lake Bonneville which, at its peak surface area, was nearly as large as Lake Michigan and significantly deeper covering roughly ten times the area of Great Salt Lake and over 1,000 feet deep.^[8] It covered much of present-day Utah in more commonly known as the Great Ice Age, between 32,000 and 14,000 years ago. With the change in climate, the lake began drying up, leaving Great Salt Lake, Utah Lake, Sevier Lake, Rush Lake, and Little Salt Lake remnants. ^{Information obtained by Wikipedia.}

When you are going to be buying a home in Salt Lake City why not let my expertise and knowing this whole valley like the back of my hand to use for you? If you are interested in selling a home in Salt Lake Cityyou have the winning edge of a seasoned real estate agent that uses cutting edge technology, proven and very innovative systems, common sense, and good old hard work and effort to get you to a closing table.

Debbie Aldrich "I'm opening doors in Salt Lake City for buyers, and they are happy at closing.

KELLER WILLIAMS REAL ESTATE 801-870-0606

www.cottonwoodhtsbesthomes.com www.debbiealdrichhomes.com www.twitter.com/debsellsslc

Cottonwood Heights sold less than half as many homes, dropping almost 57%. Out of the major cities in the valley, Cottonwood Heights homes were one of the lowest sellers. Sold price also dropped in the double digits. Median price was down 12.6% and average price was down 16.3%. Inventory is over one year and current prices of homes are pretty high when comparing with what they have sold for recently.

We need Positive Price Action to confirm market bottom. One month of price improve isn't sufficient to confirm the market bottom. We need to see appreciation month over month for three months.

PRICE ACTION

Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.

SUMMARY

Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom. This is NOT a good time for those with low and/or no risk tolerance to purchase.

High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.

Some are trying to time the market and market timing is risky. Trying to time the bottom is not for the inexperienced buyer and extremely difficult.

Those waiting for a market bottom confirmation will (almost always) miss the bottom. This is because confirming factors are lagging indicators.

Buy and hold is the best buying strategy.

Data considered accurate... However is NOT Guaranteed. Contact your Mark Watterson your Local Property Resource Specialist for the most up-to-date data and help to determine your specific risk tolerance.

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Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc. and a Utah license Loan Officer with Springwater Capital, LLC

Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties. View comprehensive property resource information at www.markwatterson.com

It's Not About the Money -It's about life long relationships that are based on Customer Service Excellence.

The "Voice of the Customer" is where it all begins. Customer Service Excellence is not just words. It's our CULTURE.

My customers refer their family and friends because of the exceptional attention to detail, customer focus and the value added services they receive. An unmatched passion and love for providing these services is the thread that binds the entire business process together making it a smooth and seamless event.

In fact it doesn't even seem like business. Because it's all about you, your goals and objectives.

You should expect the highest level of service and you deserve it. It's about you, the right property and your GOALS. YOU Deserve the BEST!

Cottonwood Heights came out positive by one home when comparing homes sold the first quarter of this year to the first quarter of last year. Median sold price decreased 4% but average sold price increased by 1%. Homes in Cottonwood Heights are currently 21-28% more expensive than what they sold for last quarter and the inventory is at 9.58 months.

There was one more home sold in 2008 than there was in 2007 in Cottonwood Heights. Comparing to the other cities in Utah, it is a rare thing this year to see a city where homes sold actually increased. The price of homes decreased by about 3% and there are currently 7.81 months of active inventory. With 175 active listings, there are still plenty of homes to choose from in Cottonwood Heights. If the trend continues, homes will continue to sale at a decreased price from what they are currently shown at.

These numbers are not official.