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Show 6 - Utah Living S Real Estate. JanuaryFebruary 2002 November has Inrnan News Features Housing starts rose 8.2 percent 1 November to a surprisingly strong seasonally adjusted annualized annual-ized rate of 1. 65 million units, the Commerce Department has reported. re-ported. Permits issued for new housing hous-ing also rose substantially, up 5.3 percent overall to a 1.56 million-unit million-unit annualized rate. "Our recent surveys have revealed re-vealed increasing optimism among single-family home builders on the strength of solid market fundamentals fundamen-tals such as continuing low interest rates, solid increases in house val j 1ULt out mhitc utahvalleyrealestate.com Mike or Julie Pierce 801-376-MIKE (6453) 801-319-5757 (Julie) 315 South 500 East. StoiM American ( $10,000 Incentive on three homes available for immediate occupancy. A urn mm L Final Builder CloseouL Only Six Homes Remain. See sales agent for doseout specials. Indian Springs Decorated model open Monday-Saturday 1-6 1342 West 2600 North, Pleasant Crave 801-796-7111 strong new ues and improving consumer confidence,' con-fidence,' said Bruce Smith, president presi-dent of the National Association of Home B ui lders and a home builder from Walnut Creek, Calif. Single-family housing starts in November regained nearly all the ground lost in the previous month with a 3.2 percent increase to a rate of 1.26 million units. Multifamily housing starts, which tend to fluctuate widely from month to month, rose more than 28 percent to 384,000 units, the highest high-est rate since March of this year. Smith said better-than-aver-age weather conditions, especially Pick your new home at Meadows at Northfield See our new listings Browse the MLS Q? Prudential Utah Real Estate Ferk.Utah 84&13 601-761001 ,r, I rf-jU, ii'.iiUiii') I ft i mt m VSJ SS L home starts in the Northeast and Midwest, contributed con-tributed to the impressive strength of the housing market in November Novem-ber along with special sales incentives incen-tives many builders have offered to keep business on track in the wake of September's terrorist attacks. at-tacks. The Northeast and Midwest showed the largest increases in starts at just over 20 percent in each region. Starts rose 12.7 percent per-cent in the West, but the South saw a modest 1.6 percent decline. Permits for new housing, which can be an indicator of future building activity, rose by a solid 4.8 percent for single-family units to a rate of nearly 1.2 million in November. Multifamily permits rose 7 percent to a 369,000-unit rate, the highest since May. Small Business best, worst noted WASHINGTON The Small Business Survival Committee, Commit-tee, one of the nation's leading national small business advocacy organizations, has released its list of developments that had the best and worst impact on small businesses busi-nesses in 2001. 1 " Thisyear'sSBSClistincludes: BEST IMPACT: 1 . Passage of the Bush Tax Cut Package. With 90percent of business owners paying personal" income taxes rather than corporate income taxes, the across the board reductions in income tax rates signed into law this year will improve im-prove the bottom line for many small businesses. A significant cut in the estate or "death tax" was also ahuge positive about the plan. 2. Deep Interest Rate Cuts. The Federal Reserve cut short term interest rates from 6.5 to 1.75 in 2001, a whopping reduction. While access to credit is still a big issue for small businesses, lower rates should have a positive impact. im-pact. WORST IMPACT: 1. September 1 1 th. Needs little elaboration. The horrifying terrorist attacks in New York and Washington, combined with anthrax an-thrax scares dealt a crushing blow to an already weak economy and were particularly devastating to the travel and hospitality industries. 2. The Recession. It wasn't declared official until the end of the year, but its presence was felt throughout 2001. Find out more by contacting SBSC at 202-785-0238 or at www. SBSC.org. Fed tinkers with Regulation Z Inman News Features The Federal Reserve has expanded the implementation of the Home Ownership and Equity Protection Act of 1994 by voting to approve amendments to Regulation Z: Truth in Lending. The new amendments broaden the scope of mortgage loans subject to HOEPA by adjusting the rate and fee triggers used to determine which loans are covered by the law and further tighten restrictions applicable when lenders originate such loans- HOEPA was enacted in response to evidence of abusive lending practices in the home-equity market, according to the Federal Reserve. The law imposed additional disclosure requirements and such substantive limitations as restricting balloon notes on home-equity loans that have rates or fees above a certain percentage or amount. These subprime-market loans are believed to be riskier for lenders because they involve borrowers with poor credit histories, spotty employment, and high debt burdens. The Mortgage Bankers Association of America is concerned that expanding HOEPA to the maximum maxi-mum point allowable by law might have an adverse effect on credit availability for consumers. Advertisers' List of Utah County New Home Communities Sagle fountain SaddlebackThe Ranches Trophy Homes 3878 E. Smith Ranch Rd. Single-Family Homes From $105,990 766-3306 Heritage Collection Pilgrim's Landing Haskell Construction Harvest Cove -Single-Family Homes From $133,990 Haskell Realty 360-9133 Smithfield Ridge CTR Homes 1500 N. Center Lots From $63,900 372-1117 call Z01-221-5Z10. 1pu muit 6c ut adocitiici. Utah L iving &c Real Estate Payson Green Ridge Georgetown Development 800 S. 200 East Single-Family Homes From $94,900 Aspen Real Estate 808-2010 pleasant rove Meadows at Northfield Century 2000 2300 N. 900 West Single-Family Homes From upper $200,000s Prudential Utah Real Estate 376-6453 provo Park Ridge Georgetown Development 1760 W. 820 North Single-Family Homes From $150,000 374-0066 |