| Show 1 " - 1 41 ot 4- - t 7 '4 t P114-'- z !40t t 4 :14":"1: - 617 41 4- t te"wel -5y - 4 - - - L r 01' 1 1711 I J "NW i ii ' - 41 J A ic 1 'i r11 1 " Si Section C Page CLASSIFIED ADVERTISING SUPPLEMENT 1 147 Sunday Morning—September 2 1990 43 ilk Vacancies Decrease Rents Rise for r:! n tvr1191-- 4 t ' 7 - - - 0-- f t's rt t: t wwottovorgkomos000rpl I ' I mid-198- 4f - - f 11'''':41111111''''- - 061 (! fa! Clt P74 44'1 21 0 " ' kf4fi'l t 1 q i:-- ekt" 21S21 'It 1711 0tA-- - I 0t 111 13'J 1& tjt ' Fw ost VA:4207j 410 14 111 I q A—1kAtiloweel"flostooteouktiows Outlook for the local imt941P40100WWWwookalokiimobste 4 -— — - 4 housing market has brightened considerably over the past year to 18 months multi-famil- y 444 4 - 41 will open up over the next month to six weeks" Ms Peck said And people who have relocated to Utah from out of state often place their own demand on local apartment complexes "A lot of out of state people come in here and want our higher priced rental units only because even now rental costs in the Salt Lake Valley are so much more economical and lower than a lot of the other areas of the country" First Security Corp in its latest monthly Cost of Living Report noted that local housing costs rose 12 percent in July which was primarily the result of higher rental charges July's increase was the seventh month in a row that local housing costs increased And that prompted First Security Corp Chief Economist Dr Kelly K Matthews to note that many of the problems of oversupply that have been plaguing the rental markets in recent years appear to be winding down Since First Security began its monthly Cost of Living reports in March of 1988 local housing costs increased some 3 percent although there has been a 4 percent rise noted over the last six months that one 4 Mo1 c 't 14 46 '44 i "" i 1 Iot 0 4 r $ 4 1 ) o t 4 I:: -A V i if - : 4 ry " iiVleA4A4oje w ' rates at many apartment complexes such as the Sante Fe Apartments may eventually lead to renewed development and construction activity Low vacancy 'Alj " 1 1 :1:? n - ' - - ' - '''- p - - 4744011r- lal3 VIT31 a: L1 c OPEN Coldwell Banker Premier Inc' ogmijolooNsionatio 260400 0351 SOUTH WIWI& WOW LAN 1400 LI Elogent Nome OM lied in the Cottonwoods Entertain with ton nis pool Mewl dining 8595000 RS45 Private Showing call JIM LUND 464175771-014- 0 OMEN BY AMT DD mar 1208 L NUM gee Amine" sews' firds Are Mont $316900 R243 atm WADLINGION 4641753594575 OPEN 3004t00 1504 L maumook Architecturally eMking needs wont light one floor 3000 sq ft $200000 115 ILAKEty SOINAEREIELD 41631750434220 woo $to4koo sus a JUNO emu $45 SO 3 Indent 2 both comfy tie de sec private Woo Mt On $169900 RSI-1- 0 MONTE EGGERS 486317514874001 OPEN 3004100 $020 L CERES OIL SO! 0121Nots Cve 5 bedroom md 0100 brick rambMr beautifully maintained A IIAA 5 datorstod tents dock 8139300 W1014 664175S3441928 12:00300 4011 E NANILOA DWI 3 balm 2 loath 2 fireplaces larreier a rare find! 11127000 R544 NAN ALLIOn MN OP I N I 2 :0 0 8 1 0 I A 0 I 2100 11 Contract remodeled I: 0 0 WILMINGTON to everything timer anxious $41900 Mose EGGERS 486417S MONTE RS2-1- 0 allIMINSIMINIEM: 100300 3 OPEN I 609 MIL Wee's"' Pd° DDmPNWP PP" PP° privets yord 8269000 Ri4isor 41141253644222 deck views S125000 SETS HIGLICIII 15® TURID LIPMAN 4864175 3644268 OPEN 3:30400 174 NORM I" Make Offer On Ines Iwo West homes totally remodeied! 899900 RS1-0- 1 MIKE EVERTSEN 48631755324515 OPEN 12:004:30 417 NORTH "0" ST what p cut per wispy A gime! 872000 RS145 NIKE EVERTSEN gnaw Loy $t I 4641755324515 OPEN 2TOO00 112 3 W CHESTMISHOOK CR (5720 LI 3 wallow In Murray and loaded wiestras 4 bdren b asin! S119900 RF4-- 9 D ANE TEECE11344002117000 247S SD' DVL 43110012)DM Bench Valteyttirtn smnwarog pool SI04950 R6-- 3 yord pitons &URGE BILL 48641755434007 OPEN 3001600 1649 REDONDO 1990 acre you won't believe SWIM Tudor an remodeled 3 bed 2 boM S119750 R345 JOHN ERICKSON 41164175 486471 OPEN 12:00-2:3- 0 1011 EAST WILSON 1770 SO 6 bodrm 2 both 24tory 2 20 wave hardwood floors 884900 RS240 MONTE EGGERS 486841754874001 OPEN 2O040 00 M IS L HOLLYWOOD t 11070 10) Embolic Woodlouse buretsow lots or lawd 3 bd I MK 371100 R2 FRANCES HAYES 4963115 OPEN 2004:00 064 U NOLLYWOOD AVE (1070 S) Gent COnertela wgreat cipt aimed 2 brt I MK Mil 869000 R247 FRANCEs HATES 3175 MTMX OM 21°41° vim I I3 OPEN 019 0 immac pooh tennis 879000 4864175231333S 3 " LE 00IN 1:004:00 339 23 I - -he sw" bittg 114344005734201 mitadd IANINNDINIDIIN DAILY 12 NU° NICIN °MIS 1100114 3 CAR 4 AT Imre min on wooded 3004140 "Ill 400 2 S3960 L MN $10410 MROOKSTONE 171110 914 - Remodel 859900 "1"12A14 "Id-- 3 --v -- TP T - - CHUCK NEVE RS-- 5 48631755734998 - ' 4jfl ' mom WILLOINCRUK 24TORT Newl y decorated Owd super neat baths tiv master' GARY N 1 4 ci gar 8192500 TSàIAN 64344009433333 STUNNING OPEN CONTIMPORAlly F ABULOUS HORSE PROPERTY In comontent East am il ma born BRIAN wiauto water 1410000 Fabulous unobstructed Irmneculate cond sailor S189900 'Hoc I BRIAN GOTTFREDSON DORI 11111 mew s be k I I 8 5000 TOM BEAUTY!! 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Special 775 Utah liouam91 2 bt 2 bth room to 7 JOLENE CARLSON 852 900 R10-46317536 4743 FOR GREAT APT BUYS! have severer rangmg Nom 95K to 32N 36 72 7 RYAN CHERRY 9434400 As01 PATE TRUMP CHARLENE LIPID Rost sob 4 bdrIns 2 WM 2 car Pr"' "Mtl"' SI DC' 262'222 Re" IKE DANIELS 4864175272-142- 11011TERS JACKIE 2 MS IS A GRIAT MEO W 2 102 Fruits BUY! Lots ol property to - I 11111111101 to expanded LOCATID IE 81700 SISN kitchen exceilent coridnion Mena Lake hiwayd 6644003364123 FRANCES tenure neve RI 899000 HAYS - 7111 NICHOLL Cull loll free I - EXCELLBMT LIMITSIOE NOME! &haw oak known - ems paint now carom 3 bOnn Merely yard! 854900 FR749 JOAN 4 PATE South ban - IN Pork kit Ogden K h 1fmt it t0i WILICIWER! 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What a family setting 5 bOnns 3 bents rambler pi pro on JOAN D PATE 8128500 RF7-2- f I - unomanomommoot 2200 OUT One acre horse WM bred' raMbir D32S0G BOUTS ProPIIIV Imhof harrow condo:Willow Creek arse: irg lot 8133900 F17721 GARY M HUNTSMAN 94344009434333 0 t i 0solossougoost MI ro EN: qr II 1 4064 0 ono° D-- Company in Sales and Listings 1 UDISOON - - 94344005110-116- JUST USTEDISRANOON PARC Gonbooms 7 bee 4 bath F Hostel $210000 RE1130 SHERRY BLAIR 91115000 uoutemoole 4000 S roodoi flew 4 mia voodoo meat RS8-eMlutg 2C gar L Now -- FORECLOSURE $OO SOUTH eg39900 I 0 29100 SWIM tennis RCF2 LINDA GEER 2 6434400542-47- SHEFFIELD11434400572-538- 3 OUT FOR THE SIAM Clow 2 alliMit weal 4 Mtn new carnet A Indite 1 JEFF d $441100 R y SID WELL 2924140172p54454 000541frombotsvitiv Darling bo R2'33 RAN A RITA LUKE 486317561-333- 3 Iwo WHAT 1:004:00 4025 SO 433 L EH NO rambler- "IN ASSIAMPT10111 six1"112774532413D2 RITA PASONAWIC TolaNy unobstructed valley mows Open 2 story witull wit out Nana BRIAN GOTFR EDSON 8309000 R7-- 1:004100 SSA L 1475 MTH Super share Hess Forms 7 Teen young 111150 SHIRLEY vaulted WWII 3940 00 (NO 11 Auto smeg) get my memos we RCS4-0- SAYSVILLI 'mums StIOARHOUSE INULTI-LV- L What tub 3 bdrm 2 bath derlingt Now oak kitchen all ppliancest S79900 JAN JOHNSON 4 864175278-544- 4 GOTFREDSON 77007101110701 OM 10010010100 setioillt BY AMT GRAVITONS CONDO 1800 sq ft 3 bd 2 baths ElemMor access DIONE Secure pkg Se4900 ANDERSON 48641752774585 KU-5- 304:30 SOS IL V " 117111111T (215 B) Wonderful Victorian Charm Saga sPaciws RSI OPEN 3 1110miltio °PIN OPEN SPIN 100300 470 I Character at s pew you can II ' Utah's Tcrid 16714 rr Al : Na - 4 Tribune Staff Photos by Rick Egan "Restrictive credit budget austerity and a stagnant economy are more than enough reasons for the sorry state of construction in 1990" said George Christie vice president and chief economist for Dodge "The added complication of a round of enera inflation closes off prospects for improvement in the near future" Christie added - ij 4777P: - eased 2 percent across-the-boar- -- - Cr 117:1Alt Construction Slumps in July — '!:-- 7:7 t high-vacanc- survey by F W Dodge Contracts for newly started pro- d in pets declined "July with the greatest weakness in nonresidential building down 8 percent and public works off 7 percent Dodge said Residential building 4 A ' i a result of the increased demand Ms Peck said most of the apartment complexes in what she described as the "Fort Union market area" will no longer commit to anylease thing more than a Most apartment owners are no longer offering inducements to new renters to get them to sign leases as y they did during the years of the mid to late 1980s "Now we have people who come in an give us money to hold an apartment for them just on the chance NEW YORK (UN) — Constru- t A P: are absolutely no vacancies to speak of in this area" she said e:nion contracting fell 5 percent in July reflecting continued weakness —In the economy according to a i a 1 served firsthand the sharp turn around in the local demand for apartments "It's really been phenomenal" Ms Peck said "The market around here over the last year to 18 months has improved bo rapidly that it has really been a surprise" She said the owners of the Sante Fe Apartments survey and track 16 other apartment complexes in its immediate marketing area "And there Vacancy rates peaked at 156 pe6 rt cent in according to Mr Hansen But since that time there has been a steady albeit slow decline in the number of vacant rental units in the valley The vacancy rate as of May 1990 the latest available figure stood at 58 percent Mr Hansen said "We need lower vacancy rates and higher rents to provide the incentive for builders and developers of multi- family housing to become active : again" Mr Hansen said While that hasn't happened yet to any large degree Mr Hansen said it be a matter of : now appears only tosees another re time before the area surgence in apartment building ac tivities Still Mr Hansen said he does not - expect any quick return to the hey' days of 1984 when there were 7949 permits taken out by builders and "' 4L developers in Salt Lake County for the construction of rental units In 1986 the number of permits had dropped to 2633 according to Mr Hansen And the number continued to drop until 1989 when there were only 85 permits for the county "I suspect that in 1990 that there will probably be more permits than in 1989" he said "When we look back on it several years from now I'm willing to guess that last year will have been the very bottom of the cycle with respect to building" But Mr Hansen said the industry has apparently learned of the pitfalls and hazards of over building and will hopefully not repeat the same mistakes it made in the 1980s "I really believe that we're going to see a little more controlled growth this time around with builders developers and lenders all being a bit more cautious than they were in the 19805" he said Julie Peck the manager of the 492 unit Sante Fe Apartment Resort at 1550 E Fort Union Blvd has ob- owners" t - alley Apartments By Steven Oberbeck Tribune Business Writer Owning an apartment building in the Salt Lake Valley during most of the 1980s was not exactly a pleasant experience Overbuilding during the early and middle part of the decade eventually led to a glut of apartments resulting in high vacancy rates and low rents in most areas of the valley Apartment owners and developers also watched the number of potential renters come under pressure as a resuit of a strong outmigration trend marked by Utahns leaving the state for presumably greener pastures But for the first half of 1990 indications are that the local multi-famil- y housing market has bottomed out and its future at least for now ap pears a bit brighter than in recent years "Things are looking up for the multi-famil- y housing industry in Utah so far this year" said Steven M Hansen president of the Apartment Association of Utah "Rental rates are up and vacancy rates are down While that might not be good news for renters it sure is for apartment r to(1 A V 611 Sifkrait Cell Vilide teitti ' --- 4111111MINNEEMENW 1 IMENIEWIE611 |
