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Show were’ “THE OGDEN VALLEY NEWS February Speculation (Realty) or Reality? By Martha Schickedanz Bott and Sold Real Estate Q. ° Hello? Does anybody else out there suspect that there must be something in the water, specific to that being pumped into local Real Estate Offices; something that promotes wild and crazy, and greedy pricing of property? Iam a newcomer. I truly love this valley, my new found friends, my home, my end-ofthe-road retired existence that I am privileged to spend here in a little corner of heaven. I don’t even mind that lots of other people fea the same way and, as a matter of fact, a Real Estate agent myself I like to “match” other newcomers up with a piece of land or a home that fulfills their dream. But what I have witnessed over the last eight months is ugly. I can only verbalize it as greed. Valuations have been put on property overnight that are not justified. Speculation is running rampant. With whom we want to share the Valley, this little piece of heaven? Buyers who buy a piece of REVIEW Page 9 1, 2006 - Fine Properties at Wolf Creek Resort - land, or a home, on one day and then turn around and put it on the market in less than a week for double the price? That is artificial inflation—it is not reality. Obviously, property here will increase in value—and considerably—over the next few years. This is a delightsome place and we are a delightsome people (!). But it is my opinion that things are getting WAY out of hand. , for one, will continue to tell people the truth. To let them know what property is actually worth, and what the short and long term reality is. There is room for speculation and development—there is also room for finding a great place at a fair price to enjoy the recreation and peace that abounds here. You can put any price on a home or a piece of land—it is a guestimate by any Real Estate Agent. Most Sellers are thrilled to hear that their possession is wortha bucket load and will list homes and land for outrageous prices. But who is buying? And who is making ittheir home? ..ccscscs.uee ora “flip Where the Resort Lifestyle is literally out your back door. cont. from page 8 for Standard and Poor’s, national housing costs over the past 30 years averaged2.6 time disposable income. Currently, the verage is 3.2 times disposable income. Potential “bubble” housing markets are those where the ratio is extreme, such as San Diego and Miami where the ratios are and 6.84 respectively. Factors such as local dependency on one employer or industry also increase the riskiness of a real estate market. Our market is unique in that we do not depend exclusively on the local area for prospective buyers. Because this is a resort area, buyers come from across the country. Do you have other questions about the real estate market a Ogden Valley? Email at Layne. Sheddun@Genun®l: com and | will try to answer them. Layne Sheridan, Ph.D., is an agent with Century 21 Gage Froerer & Associates. She is also a contributor to the Market Conditions page on <Realtor.com> FREESPIRiT MASSAGE & BODY THERAPIES MICHELLE SCOTT Licensed Massage Therapist & Master Esthetician NCTMB ~ Aromatherapy Massage ~Hot Stone Massage ~ Couples Massage ~Customized Facials ~Pedicures ~ Manicures ~ Waxing ~Gift Certificates ~ Out Call Available Ogden Valley, Utah (801) 673-7977 i This outstanding townhome at The Cascades features a = out basement plus 2 wet bars, a beautiful lock-out suite, faux paint, travertine tile, pasta faucet, European finishes — solid wood doors and trim. VIEWS VIEWS VIEWS. E = pool, bot tub, sauna and volleyball court. | Hanalei, Hawaii (808) 634-0163 aths an ideal vacation home. Extended | patio for hot tub completes this home. Magnificent town home at Wolf Creek Resort. This Cascades home includes luxurious furnishings and artwork. The unique floor plan includes a lockout master suite that can be rented alone or with the rest of the town home. Premiere location. — a This condo has exceptional views from oe and rear. It is on the 2nd Fairway of the Wolf Creek Resort TidPind ready ta golf course. This unit is ‘ity furnished d ready to rent. °eAUTO ACCIDENTS SPORTS INJURIES *CORRECTIVE CARE °*WALK-INS WELCOME 301 640=-O9787 LOCATED IN EDEN, NORTH OF, VALLEY MARKET, 2580 NorTH, Hwy, 162 Beautiful two bedroom deluxe end unit. executive suite, this condominium is fully countertops, slate floors, black appliances, Offered fully furnished and ready for the rogram. == rT As the former upgraded with granite and faux wall finishes. optional rental LOOKING OUT FOR YOUR NEEDS! Joan Woodruff - (801)675-0444 2 Century 21 Gage Froerer & Assoc. - Eden Office www.Joan4c21.com eview Reservoir, volf of ountain, Creek Resort's championship golf ‘ourse. Homesite location qualifies buyer for the resort's new membership program I ePaRe ee) Excellent downhill building lot with wonderful views of Snowbasin, Pineview Lake, & Wolf Mountain. Located in Wolf Creek's prestigious Highlands community, where protective covenants and architectural guidelines enhance integrity of the neighborhood. Location qualifies for buyer for club membership. I ePaReee) Excellent downhill building lot offers expansive panoramic views of Snowbasin, Pineview Lake, Wolf Mountain, and Ben Lomond peaks. Located in The Highlands at Wolf Creek Resort, buyer will be eligible for club membership. eT Tehw im dale (801) 430-5122 Ifincher@wolfcreekresort.com Radford Hills home orith that a ecumienerey views. Call for your private showing. $850,000 MLS#557149 www.wolfcreekresort.com Spring Bengtzen CU DRC ee ; Ry Tarte iae tee tle el) |