davis county: West Davis Corridor Meetings This Week - 02/08/11 02:32 AM
As many people in the Davis County communities of Farmington, Kaysville, Layton, Clearfield, Syracuse and Clinton know, the Utah Department of Transportation (UDOT), in cooperation with the Federal Highway Administration, is preparing an Environmental Impact Statement (EIS) to study a potential transportation corridor in western Davis and Weber counties. This transportation corridor is informally known as "Legacy North" and by it now semi-official name of West Davis Corridor.  Its proposed function is to create a northern expansion of the existing Legacy Parkway that currently runs from I-215 and terminates at the Station Park complex in Farmington.
There has been a good … (0 comments)

davis county: Real Estate Investing - It's All About the Cash! - 01/05/11 12:32 PM
With continued elevated inventory levels and interest rates at generationally low levels, I have conversations about the viability of real estate as an investment on a regular basis. Now, for those of you who recall my earlier post about homeownership, I do not consider residential real estate an "investment" if you plan to live in the property (I consider that a lifestyle choice vis-à-vis renting or living with your parents). However, real estate can be an investment (and a very lucrative one) if done based on the return it can provide relative to one’s invested capital.
I routinely provide data to … (0 comments)

davis county: Deferring a Home Purchase Could Be Costly....... - 12/03/10 09:15 AM
I recently discussed the historically low interest rates we currently experience and how, from a leverage cost perspective, this is a wonderful time to be a buyer of real estate (not to mention all that inventory to choose from). I promised a follow up article to actually illustrate the impact small changes in interest rates have on a buyer’s purchasing power. So here it is.
The spreadsheet to the left (click the image to see a full size version) provides a simple illustration of the impact interest rates (even small changes) have on a buyer’s capacity to buy. The top half … (2 comments)

davis county: Why Didn't I Buy Google back in ......? - 11/30/10 03:52 PM
How many people, yourself included, have heard/said the oft repeated refrain "If I had only bought XYZ back in the day, I’d be rich now" or words to that effect? I don't know if I'd be rich but I do know I would have at least a 4-bagger if I had purchased Google stock back in 2004.  I have a feeling the current real estate market will be one that 10, 15, 20 years from now people will replace the word Google (or IBM, CISCO, or Berkshire Hathaway) with 'real estate' or 'my home'.  Why?  We have a unique confluence of … (3 comments)

davis county: Station Park Progress Update - 11/02/10 11:49 AM
I met recently with representatives of CenterCal (the retail developer for the project) to get an update on the status of the project and the timeline for the completion of the retail/commercial project located in Farmington.  As has been reported previously, the construction of the large retailers' component (located on the eastern edge of the project) is underway with a Harmon's store as the anchor.  This section of the project is expected to be completed by May, 2011.  In that same time frame, the Cinemark multiplex is also expected to be open. 
In addition to the Harmons grocery, other retailers targeted … (0 comments)

davis county: "Do I Really Need to Fix......." - 09/20/10 10:35 AM
One of the things I get asked frequently by potential sellers here in Davis County is “Do you think I need to….” followed by a litany of various home improvement project options. In a declining price market as we currently experience, many sellers are reticent about “putting more money” into the property when the likely return on investment isn’t there. However, this can often be a mistake. The key point to evaluate isn’t so much how much “more” will the sales price be after the improvement but rather, how much “less” will I get if I don’t make the improvement.

davis county: Stunning Views from this Farmington East Bench Executive Home - 07/30/10 05:06 AM
To see more pictures, simply click here.

davis county: Where did all the buyers go? Ask FICO! - 07/27/10 11:31 AM
A number of agents and I were discussing the fact that buyer activity (as measured by under contract activity) seemed to have gone on a hiatus recently. Several theories were discussed including the front loading of activity into the first trimester of the year due to the home buyer tax credit; the increase in number of multiple family households due to job losses in the current economy;even the flood of inventory thanks to short sales and foreclosures. My contribution to the mix was the article put forth by many news outlets a few weeks ago that highlighted the fact that over … (8 comments)

davis county: Farmington Real Estate Update - June, 2010 - 07/13/10 05:37 PM
Well believe it or not, we've already reached the half way point for 2010 (seems like it was just snowing a few weeks ago -- oh, that's right, IT WAS). As I do at the end of each calendar quarter, I completed the current review of market activity in Farmington through the second quarter of this year.
Now that the first time home buyer tax credit has expired (although the June 30 deadline to close was extended recently by Congress to September 30 for properties put under contract by April 30), we can see the actual impact the tax credit … (0 comments)

davis county: Is an improving economy good for real estate? - 10/23/09 09:08 AM
This may seem counter-intuitive, but it is possible for homebuyers to be hurt if the economy improves. Of course, an improving economy has many positives for the housing market as a whole: decreasing unemployment, stabilizing household incomes and increasing consumer confidence levels. However, an improving economy also brings with it the likelihood of higher long-term interest rates.
One of the toughest jobs facing Federal Reserve Chairman Ben Bernanke is how to time any interest rate adjustments as the economy improves. Raise rates too soon and he risks killing the recovery. Wait too long and he risks significant inflationary pressures.
The interest … (1 comments)

davis county: Are we there yet? - 05/07/09 06:58 AM
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)

davis county: Supply vs. Demand - Old School or Current Explanation - 02/10/09 12:07 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)

davis county: Davis County & Farmington UT Market Update - 02/02/09 06:56 AM
Clearly, 2008 is going to be noted as a "transitional" year for any number of reasons relating to economics, politics and international actions. Those of you who know me, understand that I am clearly not as qualified as the talking heads on television and radio to discuss the political and international market issues which developed in 2008 (although that doesn’t stop me from trying).
However, I can provide some insight and overview as to the economic implications for our local real estate market. If you would like to see the actual data reports I reference in this article, follow this link … (0 comments)

davis county: Is there a cost to waiting for the so-called “bottom?” - 01/28/09 06:18 AM
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)

davis county: Farmington Utah Market Snapshot - Third Quarter - 11/10/08 07:30 AM
Who would’ve thought since my last market update we would have seen the complete meltdown of the American economic system?  OK, perhaps a slight overstatement but when Alan Greenspan uses the term “credit tsunami” it certainly perks people’s interest.  Overall, as you’ve read, heard and seen, the housing market throughout the United States has hit some rough water.  Not only are inventory levels up but the credit markets have tightened to the point of choking off a good deal of the buyer demand.  The good news is the Utah market, to date, is handling the crisis a bit better than many … (0 comments)

davis county: What Does Commuter Rail Really Mean to Davis County? - 09/19/08 08:36 AM
With the opening of Legacy Highway this past week, the travel drama that has been I-15 rush hour has been transformed into a much more pleasant and time saving activity for Davis County residents.  However, we shouldn't lose perspective on the impact FrontRunner commuter rail will have on our communities in both Davis and Weber Counties. 
The addition of Legacy Parkway to our overall transit system is helpful but at the same time limited.  Why?  Because building roads/highways by their nature, are not scalable.  In other words, they are difficult to expand (or contract) as needs changes in the future.  In … (0 comments)

davis county: Market Snapshot July 2008 - 09/11/08 09:09 AM
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)

davis county: Farmington Utah Market Snapshot May 2008 - 09/11/08 09:04 AM
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)

Craig Frazer, Real Estate, RE/MAX Metro, Davis & Salt Lake County Rainmaker large

Craig Frazer

Real Estate, RE/MAX Metro, Davis & Salt Lake County

Farmington, UT

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