The whole world has gone bananas! What with the negative media marathon blasts about Wall Street, credit crunch, declining international markets, and the general economy, makes me mad and tenuous about any future in real estate. But this Realtor, (me), took a week off and played in Park City so I could regroup and think about what was really going on.

A few weeks ago, I kept thinking that the media was crazy to spew out that 'home-buyers will not get any loans to purchase (credit crunch) homes,' that 'there is not money available to lend for an automobile' and more! I felt as though I was in a different world here in Northern Utah. "What credit crunch?," I mumbled often.  After sweating it out, I reminded myself that Utah is a different bird all together.  Here is how it is in my world: 1) Local lenders are operating as 'business as usual.' Sure, some banks have redesigned their loan application criteria somewhat, and rates bobble around, but in general, they are here for the long haul (check out bankrate.com) and want to help stimulate the economy by lending MONEY to those who are legitimate buyers. 2) First-time home-buyers are prime clients because we have good buyer assistance programs to tap into such as Own in Ogden, Home Sweet Ogden, Clearfield Buyer Assistance Program, Teachers Assistance Program and more. 3) Investors are like kids in a candy shop these days. Savvy ones understand the current market conditions (and others' perceptions) and are actively seeking several properties to hold for the next few years. Basics - buy in a down market, sell in an up market. Perception is the key and 'perception is the truth' so I spend time with many clients talking about what is real in this market. We know the real estate market and economy cycles. We have seen these time before (1987) and got through it. In Utah, we are seeing the typical rise and plateaus with home prices, so don't lose focus or go bananas like the rest of the world

Below are the lates home sale stats.

October stats will likely be different, but see what is happening here. The Ogden Valley, zips 84310 and 84317 were the hardest hit, and average prices are down a tad, but home-buyers are still buying!

Homes Sales reported September 2008-No. Davis/Weber Counties

                                                                                                                       2007                         2008

Area Zip Codes                                                           # Sold           Avg Price        # Sold     Avg Price

201 84025, 84014, 84010, 84087, 84054                    51              $325,579     44      $270,800

202 84037, 84040, 84041, 84405                               55             $248, 497     84      $239,235

203 84015, 84016, 84075                                          96             $215,254    104      $207,531

801 84201, 84404, 84414                                          88             $191,034      96      $193,541

802 84401, 84402, 84403, 84405, 84408, 84409      77             $181,897      77      $190,337

803 84067, 84315                                                     67             $190,849      52      $175,549

804 84310, 84317                                                       2             $435,000       3      $354,000

901 84018, 84050                                                     11              $267,859      6      $255,666