Saturday, March 21, 2015

Bracket Leaders and American Fork Condo

Good morning everyone!

If not for Dayton, yesterday would have been the first day in March Madness history in which the higher seeds won every game.

Here are the leaderboard standings:
1st - Jim Whitehead (two days in a row; watch your back, Kamille is moving up)
2nd place tie - Dave Alter & Kamille Olsen (Dave is also hanging in there)
4th place tie - Keith Adkins & Matthew Edson

Keith remains in the top ranking because he has his American Fork condo listed with a realtor who is doing everything possible to get it sold, taking care of all the monotony that goes with selling a property, so Keith can concentrate on his bracket ranking.
Check out Keith's condo at 63 S. 100 W., #1, American Fork; located off the main road, but still close to Main Street retail, restaurants and I-15.  Tell your friends and family about it.  A great price for this 2 bedroom, 2 bathroom, main level living condo including new kitchen flooring, cabinets, and countertops!

Enjoy the games today!

Friday, March 20, 2015

First day of Spring

Good morning everyone!  Happy first day of Spring!
Here are the top standings for our bracket:
1st tie:  Jim Whitehead and Keith Adkins
3rd:  Dave Alter
Tie for 4th:  Shannon Pence, Kamille Olsen, Frank Duty, and Sandra Newitt
You've got to love the unpredictability of sports on any given day:  UAB over Iowa, UCLA over SMU, and Georgia over Baylor!
Real Estate Note:
My wife is enjoying this first day of Spring in a white, snowy, wonderland of Maryland.  If you are in Utah it should be a balmy 64 degrees today in Salt Lake.  Yes, it is definitely an early spring here.
If you have any thought of selling your home, make sure you look at your front yard and work on those things that will increase "Curb Appeal". 
Clean up leaves, prune shrubs, and many other things to prepare to show off your home; here is an excellent Composting website.  Composting isn't only an eco-friendly idea, it is a great method for using everyday materials to enrich your lawn and garden.
Have a great day and good luck with the Madness!

Consumer Confidence and Real Estate

The Consumer Confidence Report portrays the optimism or pessimism of consumers.  In the United States consumer confidence jumped in January to 98.1, a high not seen since August of 2007.  In February it dropped to 95.4 and continued its decline last month reaching 91.2.

Happiness is not the absence of problems it's the ability to deal with them


University of Michigan reports monthly on the consumer confidence or optimism of consumers with respect to the economy in the near future.  The more optimistic consumers are, the more likely they are to purchase goods and services.  If accurate this may provide a guide for the U.S. economy.

To determine the consumer confidence index the university focuses on three areas:
          1.  How consumers view prospects for their own financial situation.
          2.  How consumers view prospects for the general economy over the near term
          3.  How consumers view prospects for the general economy over the long term

500 people are asked 50 core questions each month across the United States, excluding Hawaii and Alaska. (www.tradingeconomics.com). I wonder why the exclusion of Hawaii and Alaska; is it an over exuberance of optimism in one state and excessive pessimism in the other?

So how does all of this relate to real estate?  Well, in Utah the overall real estate inventory has continued to decline.  Market wide inventory was down from January 2014 to January 2015 by 9.1%.

According to the commercial construction activity reported last month by the American Institute of Architects' (AIA), the national building activity for non-residential real estate is climbing.  AIA Chief Economist Kermit Baker said that they are forecasting an overall non-residential building increase of 7.7% in 2015 and 8.2% in 2016.  The commercial sector (offices, retail, hotels, banks, etc.) is expected to grow most with an 11.8% increase in 2015.  Industrial (manufacturing and related distribution facilities) is close behind with a projected increase of 10.5%.  These projections, if achieved, will be the strongest performance since 2008 (www.aia.org/press/AIAB105448)

How does that affect the residential market?  On the heels of commercial development follows residential development in order to support the increased population of an area due to new employment.

The current inventory of homes listed for sale along the Wasatch Front (listings through a realtor) is approximately 11,300.  As per the Utah Association of Realtors from February 2014 - January 2015 the market wide inventory of homes for sale was down 10.6%.  The median sales price in that same period was up 3.9% to $215,000.00 and closed sales were up 2.9% overall (Utah Association of Realtors, www.utahrealtors.com).

With sales continuing to rise and the low inventory, now is a great time to look at selling your home.  It is also encouraging if you are looking to buy a home, as interest rates remain in the range of 3.75%.

How is that for an optimistic real estate outlook?  Contact me whether you are planning to buy or sale and let's look at your options.

Take Care,
Brian Olsen, WWR



Monday, March 16, 2015

Coldwell Banker Bracket of Affordability 2015

March Madness is here!! Selection Sunday was yesterday and the games begin tomorrow. Be sure to enter my bracket contest by going to http://bit.ly/1CcczMY or following the link at the top of the page. 

Now on to the Bracket of Affordability. Coldwell Banker has put together a breakdown of the 2015NCAA tournament's schools, looking at which schools comes from the most affordable towns. 

Picture from Coldwell Banker's blog Blue Matter  

Saturday, March 14, 2015

March Madness 2015

Get Ready for March Madness!! Selection Sunday is this Sunday March 15th!!  Follow the link at the top of the page to pre-register for our tournament, then come back between March 15-17 to make your picks. Be sure to share this tournament with your friends so they don't miss out on the fun!



Thursday, March 12, 2015

Orem Home Tour...






2,495 Square Feet



Basement Apartment 


Kitchen on each floor


5 Bedrooms 


2 Full Baths 


.25 Acres 


RV Parking 


If you would like to set up a time to go and see this home contact me at 801-318-3108.

~ Brian Olsen, WWR 

Photos and Information from the Wasatch Front MLS


Monday, March 9, 2015

American Fork Real Estate Market

Are you looking to buy or sell property in American Fork? This market report for February will help give you an idea of what the market was like last month in American Fork. 


If you have any questions or would like more information about real estate please let me know. I would be happy to help. 

 Unique Listing in American Fork: 


4,600 Square Foot home located at 7356 N 6500 W American Fork, Utah 


5 Bedrooms, 3 Full Baths 


Private Lake stocked with trout and Coi fish.


2- 4 car garages and covered RV parking 


10 stall Barn


4.26 Acres 

Pictures and Information from the Wasatch Front MLS




Thursday, March 5, 2015

Single Family Homes with Waterfalls



5 bedroom home with 12,192 square feet, situated on 3.95 acres. 




9,286 square foot home with 5 baths located on 1.20 acres.



3 bedroom single family home situated on 9.70 acres. 


Photos and Information from Wasatch Front MLS. 

















Wednesday, March 4, 2015

Do you know Utah Real Estate?

375 W 1574 N Orem, Utah

Do you know Utah Real Estate? Guess what this home will list for on my Facebook Page . Closest guess (on original Facebook post) will receive a $15 Kneaders gift card. Guess until Friday March 6th, 9:00 AM (MST)
Address of this home is 375 W 1574 N Orem, UT.

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