Perfect Home Living provides insight to Utah’s inflated housing increase

Released on = September 9, 2005, 9:56 am

Press Release Author = Perfect Home Living

Industry = Real Estate

Press Release Summary = Salt Lake City, Sep 9 2005 /PRNewswire/ -- Perfect Home
Living, Utah’s leading real estate marketing and development services team, provides
further explanation surrounding the mysterious increase within the Utah’s housing
market. The Insider – the online publication presented courtesy of the Utah
Mortgage Lenders Association has an article entitled: UTAH HOME PRICES ON THE RISE?
– with excerpts reprinted from the Deseret Morning News.

Press Release Body = The article in essence tells that the 5.29 percent rise in home
pricing across the Wasatch Front is good news, however nothing could be further from
the truth. Especially when considering Utah’s lackluster economy and low end paying
jobs that run as rampant as do the above national averages for foreclosures and
bankruptcies within the state, therefore making it hard to believe such increases
are abound.

In highly desirable locations across the country the cost of housing has
skyrocketed. Places such as Martha’s Vineyard or the hills of Hollywood can easily
be justified as the last of great property, but when it comes to Utah the landscape
is certainly different. So what makes Utah Housing rise to its highest levels since
1997? Answer: SUNCREST.

For those unaware, the land development of SUNCREST has had a stagnant affect on the
City of Draper, its residents and the outlining communities that surround it. Those
seeking to escape the high density madness have routinely used inflated sales prices
between the new land developer (Terrabrook) and various Utah home builders as comps
for the selling of their own single family residence.

Unfortunately for families facing foreclosure, these inflated values are often
included by appraisers, even in instances where the existing residential home was
built 20 to 50 years prior. The confusion of which subdivisions to include and
which to exclude has and continues to be a serious issue for debate. The
development of SUNCREST is yet another testimonial of comparable accountability that
will leave Utah families with increased risk of foreclosure, bankruptcy or worse
both.

© Copyright All Rights Reserved. Perfect Home Living

Web Site = http://www.perfecthomeliving.com

Contact Details = 12345 South 300 East
Suite 200
Draper,Utah 84020
Tel: 801.668.3389
Fax: 801.528.3321
www.perfecthomeliving.com