Reports came out today saying that Salt Lakes economy will be growing in the next couple of months. Salt Lake has had great job growth in 2005 and in the first quarter of 2006. Salt Lake added over 6000 jobs in the first quarter alone. Salt Lake is expecting 7,000 more jobs in the second quarter. This also is compiled with rising property values. For 2006, the real estate market increased over 14% in Salt Lake City. That is huge! For more information, please call or email me.

According to a recent poll, nearly 28% of homes were bought as second homes. That is a staggering amount. Many of the Utah buyers are attracted to the affordable Utah real estate prices compared to other Western cities.

"I have seen a big increase in out of state buyers. In Park City or St. George many people from other states buy vacation homes. In Salt Lake, many buyers are buying homes for rental investment." Jim Bringhurst-SLC Board of Realtors.

2005 was a banner year for us with 12.3% appreciation in the Salt Lake market and 2006 is starting out just as strong. The Salt Lake Real Estate has been moving in a positive direction. 2005 really set the stage for 2006 and it is not slowing down. Homes in Salt Lake are still selling fast with multiple offers and there is no sign that it is slowing down. For more stats on a particular area feel free to contact me.

The Salt Lake Real Estate market has improved in 2005 and is heating up in 2006. Properties are selling quickly and are now seeing multiple offer situations. Demand is strong especially for the Sugarhouse, Avenues, and Park City. Much of the demand is coming from Utahs job growth. In 2005, Utah and the Salt Lake Valley were 5th in the nation creating over 52,000 jobs. Here is just an exert from the Salt Lake Tribune article. For those interested, email me and I will fax or email you the entire article.

"The 4.8 percent increase in January is well above Utah's job growth of 3.6 percent just one year ago and much higher than the national average of 1.6 percent. Knold said the state's strong job growth is making it easier for unemployed Utahns to quickly find a job that fits their education and training. During the height of Utah's recession in recent years, many Utahns who were laid off struggled to find work at similar skill and pay levels, leaving many people under-employed. "It's a job-seekers market now," Knold said.

For all of you investors out there, now is a great time to look at investment property. Right now, vacancy rates are at an all time low of 6.5%. This is down from last year. Predictions are that vacancy rates will continue to fall with property values increasing and possible interest rates rising. For a copy of the article call or email me.

"Declining vacancy rates also have fueled investment in multifamily properties, such as apartments, duplexes and fourplexes, said David Svikhart, adviser with Sperry Van Ness Commercial Real Estate Advisors in Salt Lake City. "This is a very attractive market right now for apartment investment," he said. Indeed, a record $400 million worth of apartments having 10 or more units were sold along the Wasatch Front in 2005, up from about $350 million in 2004, EquiMark reported. The selling prices of apartments have risen dramatically, too. Even a predicted increase in apartment construction probably won't raise vacancy rates much, Millburn noted." from the Salt Lake Tribune.