Mortgage Rates Still Below 4%, For Now

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DAILY REAL ESTATE NEWS | FRIDAY, DECEMBER 04, 2015
For the third consecutive week, the 30-year fixed-rate mortgage dropped, offering home buyers a chance to lock in lower mortgage rates ahead of the Federal Reserve’s largely predicted move to raise federal funds rate later this month.

Freddie Mac reports the following averages with national rates for the week ending Dec. 3:

30-year fixed-rate mortgages: averaged 3.93 percent, with an average 0.6 point, dropping from last week’s 3.95 percent average. Last year at this time, 30-year rates averaged 3.89 percent.
15-year fixed-rate mortgages: averaged 3.16 percent, with an average 0.5 point, falling from last week’s 3.18 percent average. A year ago, 15-year rates averaged 3.10 percent.
5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.5 point, falling from last week’s 3.01 percent average. A year ago, 5-year ARMs averaged 2.94 percent.
1-year ARMs: averaged 2.61 percent, with an average 0.3 point, rising from last week’s 2.59 percent average. A year ago, 1-year ARMs averaged 2.41 percent.
Source: Freddie Mac

http://bit.ly/1O9JH9G

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WinCo Foods is coming to South Salt Lake

The streetcar line is in and some of the old buildings have been demolished in preparation for South Salt Lake’s downtown redevelopment. Construction should begin in spring 2016.

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The WinCo Foods store is projected to be open by Thanksgiving 2016

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The mixed use redevelopment will also include approximately 30,000 square feet of associated retail commercial, and a number of multifamily units along the streetcar line. This will surly be a catalyst for further development in the South Salt Lake downtown area.

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I would highly recommend Kimi’s Chop & Oyster House.

Kimi’s is located in the heart of Sugarhouse and it features European influenced fine dinning and an elegant social atmosphere.

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We had our National Kitchen & Bath Association’s Retreat their tonight in a private meeting room upstairs, the service was great and the food was amazing. We planned our meetings for 2016 and welcomed our new chapter officers to the NKBA.

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http://kimishouse.com

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Homes in South Salt Lake selling for 300K

500 E. pic.

South Salt Lake has 2 zip codes and the 2015 median home price for 84115 is $209,000 and the 2015 median home price for 84106 is $289,250 up 8.8% from last year.

Things are looking good for the Real Estate market in South Salt Lake.

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Granite High School Final Class Photo Day

IMG_4104Our High School is going away soon and this was our last chance to get a photo with her, even in her current state, she is beautiful and full of amazing memories.IMG_4094This is everyone who showed up from all of the Classes of the 70’s. Check out this page, https://www.facebook.com/MakeItaPark

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Economic Value of Urban Parks

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Above is a pic from Fitts Park in South Salt Lake.

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Shelly and I are grateful for the open space we have in our neighborhood and as you can see our cute little dogs agree. The investment that Salt Lake City is making in the Sugarhouse Park area is very impressive and it is adding value to the surrounding area.

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The Draw at Sugarhouse Park was completed last year and it extends the reach of the Sugarhouse Streetcar by foot or bike to the Park without crossing the very busy 1300 S. traffic. This is the neighborhood of our KW SLC Realty office so I get to see how this area is booming with high quality development.

I’m very impressed with the forward thinking people that are helping the Sugarhouse area to become one of the most sought after communities in Salt Lake County.

High-quality parks also spur economic development by attracting homebuyers and boosting residential property values by as much as 15 percent, meaning greater wealth for residents and increased revenues for cities.

Here is a link to the story I am referring to from the City Park Alliance as well as a news clip about the Draw at Sugarhouse Park.

http://www.cityparksalliance.org/why-urban-parks-matter/economic-value

The Draw at Sugar House now open

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Granite High Campus

Shelly and I took our dogs for a walk today at the Granite High Campus, but only around the buildings because the track and tennis courts are locked up.

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We love the trees along 3300 South with the Scott School in the background, however it makes us sad to see this area deteriorating and the buildings being boarded up.

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We will be following the status of the Granite High Campus on this Blog because the future of this property will have a huge impact on the quality of life and the property values of everyone in this area of South Salt Lake.

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