No, I didn’t go fall off the map, and no I didn’t forget about my blog. The reality is that over the past 3 weeks I have spent as much time in Airport Terminals as I have in my office. As I have been traveling the country and speaking to people in different areas I have gained some new perspective on a few things related to the housing market and the mortgage market in Utah. I plan on being in the office for this week, so I will try to get caught up on a few things, as well as share some new insights.
My first thought: BE GLAD TO LIVE IN UTAH.
I spent a week in Michigan speaking to crowds ranging from 75 to 250 people. I had some time to drive around and see the neighborhoods. I also had a chance to visit briefly with a few homeowners and gain some of their observations. Michigan has it bad. Any way you look at it. Not only are homes staying on the market well over 120 days, but in the past year the average sales price has dropped over 10%.
Understand that the Real Estate market reflects the local economy. Detroit has an unemployment rate of 14% with the highest rate of foreclosures in the nation, and nearly a third of all residence living in poverty.
We are lucky in Utah to have one of the nation’s lowest unemployment rates. We have home values that continue to increase, and our standard of living continues to improve. I guess what I am saying is, among other things for which I am thankful; living in Utah is near the top of my list. I hope you feel the same way!
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