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farmington utah: Station Park Construction Underway - 09/09/10 01:23 PM
Many residents of Farmington know that land preparation has been already done for the Station Park retail complex, however, the economy put a hold on the actual build out of the complex which was originally scheduled to open its first phase in the spring of 2010. However, now two of the major tenants for the new complex have initiated the construction of their buildings. Both Harmons Grocery and Cinemark Theaters began construction and expect to be open by May, 2011. The Harmons facility is estimated to be just under 69,000 square feet when finished and the Cinemark theater is currently slated … (0 comments)
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farmington utah: Farmington Real Estate Market Update - April, 2010 - 06/23/10 11:31 PM
With the expiration of the home buyer tax credit, I thought this would be a good time to establish a base line report for reference later in the year in terms of market activity. For the first four months of the year, the activity levels in Farmington have been a mixed bag. Listing activity is in line with the same period last year while sales activity is up significantly over last year (impact of the tax credit).
In spite of the increase in the sales activity, average and median sale prices are down considerably from the same four month period last … (1 comments)
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farmington utah: Farmington Station Park Update (originally posted 3/18/2010) - 06/23/10 11:27 PM
I attended a meeting last night at the CenterCal offices in Farmington in which members of the city council (along with the mayor) and Craig Trottier, Vice President of Development for CenterCal Properties discussed the current status of the Station Park commercial/retail development adjacent to the Farmington FrontRunner train station. In spite of the current economic conditions which have slowed the project, it is ready to move forward with two publicly confirmed tenants in the project. Most everyone has heard that Harmons will be opening a store in Farmington Station. In addition, Cinemark has confirmed their plans for a multi-screen theater … (0 comments)
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farmington utah: Farmington Real Estate 2009 Market Update - 06/23/10 11:17 PM
You have likely heard all sorts of conflicting reports about the current state of our real estate market. It is true the local real estate market in 2009 continued its adjustment process begun in early 2008. Rather than trying to address the various media reports you may have heard, I prefer to just look at the data and see what the data reveals about local real estate activity in Farmington over the past year. Click on the thumbnail to see a copy of the full report for calendar year 2009.
One thing that stands out is the clear impact the federal … (1 comments)
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farmington utah: Are we there yet? - 05/07/09 01:58 PM
There is a lot of discussion amongst the real estate community, the banking community, consumers, and the media as to whether or not the real estate market has or will soon hit the bottom. If you think this particular blog post will answer that question, you will be sorely disappointed. However, I hope to potentially shed some light on what is really a very difficult and fluid concept
To that end, I've tried to identify what a non-bubble market would look like in terms of average price points. In our local market, data indicates that our bubble began to manifest itself … (0 comments)
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farmington utah: Farmington Utah Market Snapshot - First Quarter - 04/29/09 02:58 PM
Well we finished a rather interesting first quarter (how’s that for a euphemism?). My current Farmington market snapshot report for the most recent quarter is included for your review. We are starting to distance ourselves from the frozen credit markets and corresponding near screeching halt in the realty market experienced in the fourth quarter of 2008 and after the first of the year. However, the local real estate market is still a bit sluggish.
As I mentioned in my fourth quarter report, the impact of elevated inventory levels and the increase in distressed properties (e.g. short sales, foreclosures) is being … (0 comments)
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farmington utah: Farmington’s Future…is it transit based? - 02/21/09 07:10 PM
Many of us here in Farmington know of and have seen the activities taking place with the Station Park development across from the commuter rail station. Many are also aware that the project has slowed somewhat due to the national and local economic slowdown.
I had an opportunity to visit briefly by phone with Mayor Harbertson and in person with Craig Trottier, Center Cal VP of Development to discuss the current status of the Station Park project. The current recession has caused many of the retailers to delay their expansion plans around the country (including Station Park). It is important to … (2 comments)
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farmington utah: There really are more important things....... - 02/20/09 01:36 PM
When you do something for a living on a day-to-day basis is easy to become somewhat myopic in terms of what you see going on around you. It really doesn't matter if you're a surgeon, a plumber, an accountant, an attorney, a mechanic, or a real estate agent . In my line of work there's been a lot of time and focus both within our industry and by me personally as to the effects of the recent stimulus bill and housing recovery proposal. Don't worry I won't be spending any time on those items in this blog post.
I received a … (3 comments)
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farmington utah: Supply vs. Demand - Old School or Current Explanation - 02/10/09 08:07 PM
So in the current real estate market place with unemployment increasing, interest rates fluctuating, stimulus packages being debated (and apparently passed in the Senate today), the banking system collapsing, and an overall the "sky is falling" mentality, do simple economic principles still help explain what's going on? In a word: yes.
We've all heard and used the expression supply versus demand. It's interesting in our industry as we embrace the Internet, statistical metrics, buyer & seller behavior patterns, home staging expertise, and any number of other factors to explain what's occurring in our markets when the simplest answer may be the … (0 comments)
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farmington utah: Is there a cost to waiting for the so-called “bottom?” - 01/28/09 02:18 PM
As I’ve worked with buyers over the last six months of the current economic “crisis,” I am regularly asked if the market has reached “bottom?” My response is generally in the form of an observation, that you don't know the bottom of any market (whether it be the real estate market, the stock market, or a commodities market) until prices begin to trend upward. Then you can look back with confidence and say “Oh, that was the bottom.”
Now of course there are, depending on who you talk to, some potential leading indicators as to where market begins to shift. In … (0 comments)
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farmington utah: Market Snapshot July 2008 - 09/11/08 04:09 PM
What a year it’s been so far in 2008. If you read the papers or watch the news you’d think all of the homes in America stopped selling, and the next great housing depression has begun. Although I exaggerate, it is interesting to see how the national media, in particular, takes national averages and extrapolates that data to reflect the entire country.
The truth is, residential real estate is still a very localized phenomena. There are parts of the country which have been hammered in terms of price points (Las Vegas, California, Phoenix, large sections of Florida, etc) but others have … (0 comments)
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farmington utah: Farmington Utah Market Snapshot May 2008 - 09/11/08 04:04 PM
It has been an interesting start to the year in terms of the real estate market. As you can imagine, there has been an abundance of reports relative to both the national and local real estate markets. There are as many different opinions as to the condition of the market as there are home styles .
My personal tendency is to simply look at the actual data, compare it year over year and try to avoid unsubstantiated anecdotal information when assessing the market. To that end, there is no denying a slowdown in the local real estate market in terms of … (0 comments)
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Craig Frazer, Davis & Salt Lake County Real Estate, RE/MAX Metro
Farmington,
UT
More about me…
Address: 110 N. Main Street, Bountiful, UT, 84010
Office Phone: (801) 699-6046
Cell Phone: (801) 699-6046
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