About Weber County, UT

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.

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.

This is NOT a good time for those with low and/or no risk tolerance to purchase.

A strong case can be made that those who are looking for a home for their family with plans to stay long term. Why not buy now? Especially if the numbers make sense, i.e. Owning vs. Renting. Even, if the market retracts more (which is extremely likely) in the future. Between the coming market bounce and future normal cycle of appreciation, buying now might make sense. Why not make an informed buying or waiting decision?

High and medium risk tolerant buyers are making buying decisions many are investors doing some bottom fishing looking for properties priced at wholesale.

Those waiting for a market bottom confirmation will (almost always) miss the bottom. This is because confirming factors are lagging indicators. Thus making it extremely (if not impossible) difficult to time any market bottom, in combination with the majority of home buyers afraid to purchase at this time. I believe we will see an un-preceded pent up demand at the market bottom that will cause a bounce in home prices.

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

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

In Washington Terrace Utah there have been 5 homes sold in the last 30 days. They have ranged in price from $118,000 to $142,000 with an average of 57 days to get sold. At the time of this report there are 43 homes for sale in Washington Terrace. That means we have 8.6 months of supply on the market. A 6 month supply is considered balanced, any more than that is a buyer's market.

Another factor that must be considered is the number of expired listings. In the last 30 days there were 6 listings that expired unsold. These numbers indicate the market is very price sensitive. Right now in Washington Terrace if it's priced right and marketed properly it sells quickly, if it's not it simply doesn't sell.

For more information please visit my web site at http://www.jimmcewen.com

If you are looking for a new home try our free map based home search at http://www.FindYourUtahHome.com

In West Haven Utah there have been 8 homes sold in the last 30 days. They have ranged in price from $197,000 to $392,000 with an average of 94 days to get sold. Homes under $250,000 are spending 60 days on the market compared to homes over $250,000 that are taking an average of 106 days to sell. At the time of this report there are 124 homes for sale in West Haven. That means we have 15.5 months of supply on the market. A 6 month supply is considered balanced, any more than that is a buyer's market.

In the last 30 days there were 11 that didn't sell. These numbers indicate the market is very price sensitive. Right now in West Haven if it's priced right and marketed properly it sells, if it's not it simply doesn't sell.

For more information please visit my web site at http://www.jimmcewen.com

If you are looking for a new home try our free map based home search at http://www.FindYourUtahHome.com