Draper

Baby Boomers - Will They Bankrupt Social Security?

The First Baby Boomer Files For Social Security

Can you believe it’s here? We’ve been talking about it for years and speculating on the impact it will have to our retirement and our economy. And now it seems to have crept up on us? Is this the beginning of the proverbial “run on the bank”?

What will the impact really be? Forecasts are that within 10 years Social Security will be paying-out more than is then paid-in. and in 35 years will be bankrupt! When will there be a serious attempt to make whatever changes must be made to make sure the social security stays around for all of us who have paid-in and modified to whatever must happen for future generations as well? They should not have to pay for our screw-ups!

For some interesting additional links on Baby Boomers check out the following:

What is a Baby Boomer?

US Census Bureau Baby Boomer Facts

First Baby Boomer turned 60 years old

Enough with the fun stuff! What does this mean to us here and now?

Yes we are going to see a barrage of media, articles, blogs, and more opinions than you can imagine. We will need to sift through the opinions and determine what the best personal financial moves are to secure our own retirement.

Here is a link to Brian Brady, Americas Mortgage Broker. I like his take on most mortgage issues. He keeps a pretty close watch on market indicators and conditions and presents his opinions well.

I recommend any to follow his posts. I know I will.

Authored by Keith Jeppson | Discussion: 6 Comments »

Meth Decontamination in Utah - Fact vs. Fiction

MethMichael Rowzee, a certified Meth decontamination expert is going to speak at the Bonneville Hills Community Council meeting Thursday, October 25th. If you have any interest in sifting through all the hype and hyperbole going on in the press about Meth then come to the presentation. In addition to being licensed to decontaminate meth labs Mike is certified as an instructor for Meth home inspectors and city and county health departments.

I’ve attended a meeting where Mike spoke about his experiences with Meth and highly recommend him.

The meeting will be held at the Anderson/Foothill library, 1135 South 2100 East, Salt Lake City, Thursday Oct. 25th, 6:30pm.

See ya there…

Authored by Keith Jeppson | Discussion: 2 Comments »

Draper Utah Home Sales & Values - September 2007

Draper Utah Real Estate is in the tank! September home sales dropped 55% from the prior month and 64% from September 2006. The mortgage crisis has completely crippled Draper home sales. The entire month of September Draper had only 22 home and 7 condo sales.

While sales were down, home values increased to an average of $490,637 which is an increase of 6.9% over September 2006 values.

Draper Utah - September 2007 Home Sales

Month Average Sold Price Change from Prior Year # of Homes Sold Change from Prior Year Absorption Rate in Months
July $446,072 +.2% 64 -18.9% 9.9
August $180,619 +2.2% 65 -13.3% 10.6
September $490,637 +6.9% 29 -63.8% 24.2

The absorption rate (the number of months required to sell all current listings) for Draper more doubled doubled in September to 24.2 months. That means it would take 24 months to sell the current listings if no additional homes were added to the market. And in September alone Draper had 224 new listings added to the market for a total of 702 listings. To see the September absorption rates for all of Salt Lake County check this post.

Salt Lake County - September 2007 Home Sales

Month Average Sold Price Change from Prior Year # of Homes Sold Change from Prior Year Absorption Rate in Months
July $311,576 +11.1% 1,269 -5.2% 6.6
August $316,151 +10.3% 1,294 -12.2% 7.0
September $300,066 +6.2% 848 -34.2% 11.0

Home sales in Draper is “THE” worst in Salt Lake County. Even Riverton and South Jordan are doing better. See the above comparisons.

Has Draper real estate hit rock bottom? Will home sales continue to decline? Will real estate values, which have continued to climb in Draper start to decline with the increased absorption rate?

If you’re interested in information on any particular zipcode or neighborhood just contact us at 801–582–5882 or at Ask The Broker.

Information for our stats were taken from WFRMLS as of 10/16/2007 and are subject to change at the discretion of the web-master. Zipcodes included for Draper Utah include 84020.

Authored by Keith Jeppson | Discussion: 1 Comment »

September 2007 Home Absorption - Salt Lake Real Estate

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July 2007 Home Absorption - Salt Lake Real Estate

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June 2007 Home Absorption - Salt Lake City Real Estate

Authored by Keith Jeppson | Discussion: 5 Comments »

Salt Lake City Home Remodeling Costs: What’s The Payback?

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May 2007 Home Absorption Rates - Salt Lake County Real Estate

Authored by Keith Jeppson | Discussion: 7 Comments »

Housing Market Report for Draper, UT - May 2007