Utah County vs. Salt Lake County (Orem, South Jordan: bank owned, for sale, real estate market)

[kimc53ssz28]

Hello Utahns,

I'm just wondering if any of you have ever lived in both "Happy valley" and Salt Lake Valley, I grew up in Orem, needless to say, other than the pretty scenery, I didn't enjoy it as much as some would. I am LDS, but Utah county just wasn't for me. Right now I'm living in Phoenix, it's great, but I thought I would take advantage of the housing slump in Utah at the moment, I had planned on coming back someday, I just needed a break from Utah. But not being able to ski and drive my AWD subaru in the snow is killing me along with having all of my family there. I just wanted some Opinions on the matter of living in Salt Lake rather than "the bubble", and any opinions of how the housing market in Utah is going to be in the next couple of years??? Thank you.

[eggalegga]

Hello right back to you. I've lived in both Orem and the Salt Lake Valley. I am not LDS and prefer Salt Lake county anyday. Almost all of my friends and most of my family live in Utah county. It's not for me. I moved to SLC to finish my degree at the U. I've been in the SL valley for 20 years and I don't have any plans to ever move back to Utah county. I think my family stays there because they're all raising kids, not me. I have a dog and prefer it that way.

As you are most likely aware, our wages aren't all that great, and our real estate prices have shot up like the rest of the nation, maybe not as much, but the prices have gone up. Recently though, there was a story on the local news that house sales are up, but prices are down.

You could probably ask your family for better advice as they would know what your considering when making your decision to move back.

How long have you been away from Utah?

[kimc53ssz28]

I've been in AZ nearly a year, I can deal with the culture here so much better than Utah County, especially those College aged Utah girls....oh man, I don't miss playing their games. The housing prices in Phoenix metro area made me pale when I started looking into buying one. To give you an example, a 3 bedroom two bath 1300 sq. ft. one level on the outskirts of Gilbert...$330,000. And also that comes with a grand view of a cactus rather than the rocky mountains.

[kwm03160]

While housing prices have come down somewhat in both Utah and Salt Lake counties, they have not dropped as much as the rest of the nation. Homes under $300,000 are selling quite well (but are taking longer to sell). It's the homes above $300K that are sitting on the market. Daybreak (in South Jordan) is selling very well. I would really research salary info. and home price info (Utah Real Estate - Your One Stop Source for Searching Real Estate in Utah) before making any decisions.

[kimc53ssz28]

cool, yeah Utah is a desirable place to live and I hear it's market is doing much better than the rest of the nation, thanks for the info.

[EdLo]

Originally Posted by kimc53ssz28

Hello Utahns,

not being able to ski and drive my AWD subaru in the snow is killing me and any opinions of how the housing market in Utah is going to be in the next couple of years??? Thank you.

I also have a AWD Subaru but sadly may not ever drive it in Utah. I heard that Utah does not have chain controls in the winter. Wonder why? I guess they must think most Utahans know how to drive in the snow and equip their cars appropriately.
As for the real estate market, it has not been as bad as most states, especially like in CA, FL, and NV. I bought at a good price in 2005 in Highland and it experienced a dramatic increase in value up to 2007. As for 2008 so far values have held steady. There have been a lot of up-scale homes with price reductions. Due to health reasons I have put up my Highland home for sale but because I have it rented (to an IMF executive) until March or April of 2009 I'm not worried if it does not sell this year. I will not reduce the price knowing that in 2009 prices will start going up again according to several sources I've read. I would think that if you're in the market for a mid-priced home, say $225K to $300K there should be a lot of good bargains out there.
Eddie

[Fate Belongstome]

I live in Lehi (Traverse Mountain) which has amazing real estate deals right now. We bought a short sale, which means the bank takes less than what they are owed. You can't just find them though...you have to have a real estate agent who specializes in short sales because there is a set procedure for getting them and the financing done. Every other house up here is for sale and most are foreclosures, bank owned, or short sales.

On the downside, I am not Mormon, and I have planted myself in the middle of weirdville. My children have no friends, but we are working hard on changing some opinions around here of who we "non-mormons" really are and that we aren't horrible people.

We'd love to welcome more real people to the area who don't care what church building you do or do not walk in to.