The National Association of Home Builders (NAHB) and Wells Fargo Housing Opportunity Index (HOI) report that nearly 76% of new and existing homes sold in the last quarter of 2011 could have easily been purchased by buyers earning $64,200 (the national median income). The previous quarter showed nearly 73% of homes in that range, marking a 3% increase.

Interest rates have been at record lows and change weekly on 30-year loans with Freddie Mac reporting an average of 3.87% on February 16th. 15-year loans were averaging 3.16%.  Many housing markets were considered affordable in the recent index, however, if you are in market to purchase a home, the following areas represent the best choice in order of affordability according to the NAHB/HOI:

• Youngstown, Ohio
• Boardman, Ohio
• Warren, Ohio
• Lakeland, Florida
• Winter Haven, Florida
• Modesto, California
• Harrisburg, Pennsylvania
• Carlisle, Pennsylvania
• Toledo, Ohio
• Kokomo, Indiana
• Fairbanks, Alaska
• Cumberland, Maryland
• Lima, Ohio
• Rockford, Illinois

Click on The NAHB/Wells Fargo Housing Opportunity Index: History of Least and Most Affordable Areas spreadsheet located here to download the list of historical data on the most and least affordable areas in your community or browse their website to learn more.

This is very concerning to me, I attended Bonneville High, I knew about the parking lot crew but never was Bonneville High known as the party school.  Just lately there was a drug bust at this school. Where 8 kids were arrested for drugs.

I have a niece and a nephew who will be attending Bonneville High. I know they have learned in their homes the important about staying away from drugs and alcohol and have great support. But what about their friends homes have they learned the same.

We all need to keep are kids safe and away from the dangers this stuff can cause which effects not only their safety but their ability to learn. These kids are tomorrows leaders. I would say it is NOT ok to use alcohol at home or anywhere at this young age.

By Gentry Reinhart

Standard-Examiner correspondent

Sun, 02/19/2012 – 8:27pm

Parental attitudes contribute to teen substance abuse problems in the four cities that send students to Bonneville High School, according to a local woman who has studied the situation.

Amy Mikkelsen is director of the Bonneville Communities That Care coalition, which spent four months gathering data to identify the top five risk factors for teens in Washington Terrace, Uintah, Riverdale and South Ogden attending sixth to eighth grades.

The coalition works to reduce substance use, delinquency, school drop-outs, violence and teen pregnancy.

In her research, Mikkelsen said she was most surprised to see the attitude that some parents have toward teen drinking.

“That was really alarming to me,” she said. “There was a very high percentage of youth that reported using alcohol at home with parents’ permission.”

Mikkelsen fears that parents aren’t being clear with their expectations for drug and alcohol use, instead assuming that their standards are clear and understood.

“I think a lot of times, as parents, we assume that of course my kid knows I don’t want them to use alcohol or get involved in violence,” she said. “But they’re not necessarily talking to their kids about it.”

Inhalant abuse among sixth-graders in the four cities is double the state average, according to the coalition report released this week.

The study found the drugs most commonly used by teens are alcohol, marijuana, tobacco and prescription drugs.

The full report will be available for the public within the next week at the Communities That Care website, www.bonnevillectc.org/

“As far as substance abuse, we are higher than Weber County,” Mikkelsen said. “And we’re above some of the state averages as well.”

The four cities formed an interlocal agreement last spring to help fund the coalition. A Weber-Morgan Narcotics Strike Force raid in mid-November at Bonneville High School resulted in the arrests of nearly a dozen students on drug-related charges and gave the coalition impetus to complete its tasks.

Another concern was an increasing relaxed perception of gateway drugs like marijuana. The report said 18 percent of 10th-graders and 23 percent of 12th-graders admitted having smoked pot.

“We’re seeing that opinion changing, probably because it’s being legalized in several areas, and maybe parents don’t think it’s that harmful or dangerous,” she said. “And in turn, the kids don’t think it’s that big a deal.”

The report also emphasizes the role academic failure plays in the likelihood of teens doing harmful activities. Mikkelsen said not addressing even common problems, such as difficulty with reading, as early as third grade can exponentially raise the risk of unhealthy behaviors.

Data for the report was gleaned from the SHARP (Student Health and Risk Prevention) survey — a biannual survey administered to youths in grades six, eight, 10 and 12 every odd-numbered year — and archival data from the community to build a comprehensive view of the area and the challenges facing youths in their daily lives.

The report outlines protective factors, such as opportunities and rewards for pro-social involvement, a strong moral code and strong family involvement to help reduce problem youth behavior.

Mikkelsen said the next steps are to assess programs that already address the priority risk and protective factors and to focus on reducing substance use among youths.

The coalition of representatives from Weber-Morgan Health Department, Bonneville High School, Weber School District and Juvenile Court wants to find and fill the gaps in services or programs.

Finally, they intend to find programs or strategies that have been shown to be tested and effective in addressing the priorities that are not already being addressed. The group will write a community action plan and look for state and federal funds to help pay for the programs.

The nationally implemented Communities that Care framework was developed by Drs. David Hawkins and Richard Catalano at the University of Washington. It’s based on their extensive research that identifies specific risk factors that are predictive of problem behaviors and protective factors that buffer youths from those risks.

The Bonneville chapter was established in April 2011, and Mikkelsen encourages anyone in the area to get involved in making the community a better place.

“The more it gets out there, the more people we’ll have saying ‘what is that?’ ” she said. “And that leads to more involvement and participation.”

Economic and housing marketing outlook

Lawrence Yun phd                                                                            Chief Economist                                                                                     By Lori Fleming

Lawrence Yum Economist for the National Associate of REALTOR said “The Rocky mountain regional should have the most growth due to job and way of life with the data looking great on a national level and since Utah was behind the bubble we should be seeing that last effects and start heading upward.” 

Looking ahead here are  4 issue we are still facing. 

1. We currently have the best affordable condition – interest rates are great for buyers to obtain great deals on their new house.  You would think people would be rushing in to purchase that new home- But there is no pick up in the market,  causing the market to remain slow and unsure. 

1. National prices have stayed stable for 2 to 3 years – the feeling is everyone believes home values are still falling WHY?   As long as people believe it will still fall they will hesitate, this is  due mostly to news and incorrect local figures. 

1. We currently have the  lowest newly constructed inventory with tons of vacate lots, banks are not willing to lend on new construction feeling they will remain vacant once completed.  Banks are only causing added problems by holding onto the cash and making lending guidelines hard to reach for most builders. The banks have  plenty of cash so that they can with stand any stress test placed before them- cash is not circulating into the economy. Banks are also receiving threats from investor -  if they do loans under lost guideline they will be shut down. The average hard working people are paying higher rates to obtain jumbo loans and are giving up with all the hurdles they are having to jump through. 

1. Fannie  and Freddie are making internal self sustaining loan profits from hedge funds hurting the tax payers ( borrowing money at lower rates) – Fannie and Freddie are still reporting loses but investors are coming back into to picture picking up the REO properties soaking up the bank owned and distress properties and turning the profit on cash transactions. 

1980 interest rate were 13% people were entering the market and purchase properties value at less they what they could purchase today for the same purchase price because of todays rates. In 2012 the rates are at an all time low under the 4%  with prices of house also at the best price but where are the buyers….

For the past 4 years it has been tough in home sale, which has effected more people then just the REALTORS, if you think about it many things are tight to the Real Estate Market. You have builders, movers, lenders, concrete business, and the oil and lumber industries  just to note a few who are all effected by the lack of money circulating in the market place. Before the market bubble  national there was 1,400,000 realtors, today in  2012 national there a under 1,000,000 reflecting just how the market has changed in this time.

One thing to think about inventory is down 20% due to the uncertainty this will effect the supply and demand causing price to raise and the lack of homes also make it hard for sellers to want to add to the inventory with the fear they will not be able to replace what they currently have . 

Builders and new builds are forced to remain low due to the lending guidelines,  banks are not lending on spec homes making it difficult for any new starts. Unless the builders have deep pockets and can fund the project or can get a pre-sold vacate lot will remain vacate. So ask yourself  if you are a buyer how long will these prices remain this low. As demand increase these prices will rise. Now is the time to start your buying process

Why is lending so hard to get now days you ask. 

Buyers average credit scores for approved loan have increases which effects the ability to get a loan by this increase of higher credit scores it has effect 15 to 20 % of buyers ability to obtain a loan only allowing high incomes to purchase. This is forcing the rental market up or kids moving back with parents or more roommates in smaller places.

Something to think about is this market of unemployment and foreclosure other areas have not remained low. 

• Food prices up 150%
• Gas prices  up 197%
• College tuition up 698%
•  Medical services up 410%
• Rents  up 200%
• Monthly  mortgages 30 fixed rates up 0%.
• With all the inflation of products or services mortgage rates are the only rates that are in line are below services on a national level.

Who are buying  INVESTOR who are paying cash and getting great deals. Where investor were buying gold which is now very expensive, they are looking at a  better way to make a return on there investments. Purchasing bank owned properties fixing them up and flipping them is giving them much more return on their money.  Open the opportunity for new buyers to purchase a home that has be remodeled and restore with little out of pocket repairs for the new buyers. 

Right now in North Dakota they have rose to number 3 in growth due to the oil in the state. Working at Mc Donald you would receive a starting wage of $15 to 18 per hour, with Michigan at an all time low due to the automotive business.

How is the government trying to recover - 

• Forcing buyers to have 20% down payment in order to purchase their home
• Doing away with the mortgages interest dedication -
• Higher property taxes - 
• Higher capital gains taxes 

This  will KILL the market and consumer confidence. The National Association or REALTOR along with the local Associations are fighting this to protect the right for the American dream

Ronald Reagan –  once said “We will preserve a part of the American dream by protecting the tax deduction..”

In the 1940 4 million no downpayment VA  loan for returning World War II  veterans were giving and the world was booming there were very few foreclosures, buyers were proud to own the American dream. With the wars of today we are having returning vets coming home to lower jobs, higher cost and very little benefits. By taking away the VA 100% loan or asking for 20% down will hurt all!

The 100% loan worked in the 1940 it could work again today helping the True buyers to achieve the piece of the American Dream

The new agreement, authorized in 49 states (not Oklahoma), strengthens the review process on loan modifications and foreclosures by requiring application reviews prior to beginning the foreclosure process. Excessive fees, insurance costs, and appraisal rates also received limits, and the agreement also provided avenues for principal reduction for struggling homeowners. This agreement does not apply to any FHA, Freddie Mac or Fannie Mae loans or foreclosures.

Homeowners with a mortgage on their primary home that represent a 20 percent or more reduction on property value with a loan balance of less than $417,000 are targeted for these funds, although eligibility will be determined individually. Homeowners whose mortgage rates are above 5.25 percent may be able to refinance to lower interest rates, and homeowners experiencing unemployment or considering short sales may receive aid, as well.

Contact your lender directly to see if you are eligible or watch for a notification letter from your lender within the next six months. Incentives were provided to lenders who completed settlements within 12 months, and funds must be dispersed within three years. Click here to see actual details of the agreement.

This story hits so close to home with these sweet boys being from West Valley City Utah.  Only a short distance from my home. As a mother I can only image what their grandma is feeling right now. The anger she must have felt when she heard about these boys last moments of life.

I am so glad those little boys are back in the arms of their mother and the fear Josh must feel knowing he will have to face her…all I can say is if I was the mother he would not want to meet me know what he had done to me kids!

 

Photographs of Charles Powell, right, and Braden Powell are displayed during their funeral services in Tacoma, Wash., on Saturday.

A sheriff and his sergeant in Washington state have bought burial plots next to Josh Powell’s boys in order to block family members from burying him next to them, according to a media report Wednesday.

“The bottom line is, Josh Powell will not be near those two boys,” Pierce County Sheriff’s Sgt. Ed Troyer said in an interview with a Seattle-area radio program called the Ron and Don Show.

Josh Powell’s surviving relatives wanted him to buried at the same cemetery as the two sons he killed, the city manager in Puyallup said earlier Wednesday.

But that does not look like it is going to happen.

Troyer and Sheriff Paul Pastor used their personal money and funds from Crimestoppers Tacoma-Pierce County to buy plots that are on either side of the boys, according to a report on the radio station’s website that was confirmed by Troyer on Twitter:

Crimestoppers is soliciting money on its website for the purchase of the plots.

“It’s disgusting that a murder suspect would be buried next to his victims,” Pastor said in a statement posted on Twitter.

Powell’s relatives visited the public Woodbine Cemetery and selected a plot about 25 feet from the boys, City Manager Ralph Dannenberg told The Associated Press earlier Wednesday. They haven’t paid for it yet, and any sale is being put on hold because the parents of Powell’s missing wife have promised legal action.

“We don’t have any rules or procedures regarding refusing plots to anyone,” Dannenberg said. “We’re going to wait to see what the outcome is in court.”

Powell was a suspect in Susan Powell’s 2009 disappearance from their home in West Valley City, Utah. He later moved with his sons to near Tacoma, Wash., to be close to his parents. On Feb. 5, he attacked his sons with a hatchet and set his rental house on fire, killing himself and his sons, Charlie, 7, and Braden, 5.

Cops: Josh Powell murder-suicide house was sham set up for social worker visits

The boys were laid to rest at Woodbine on Saturday. Attorney Anne Bremner, who represents Susan Powell’s parents, Charles and Judy Cox, says she would seek a temporary restraining order to block Josh Powell from being buried there.

“For him to be buried near those kids is just unthinkable,” Bremner said. “For God’s sake, for them to lose Susan first, and then the boys, and now this? Just give these people a break.”

Powell’s sister Alina did not return an email from the AP seeking comment.

Meanwhile, Powell’s father, Steve Powell, who is awaiting trial in Pierce County, Wash., on voyeurism and child pornography charges, filed a motion with the court saying he does not wish to speak to the FBI or other law enforcement about his son’s case or the disappearance of his daughter-in-law.

Mark T. Quigley, Steve Powell’s attorney, told the Salt Lake City Tribune that the notice, filed Tuesday, was common in criminal trials to protect rights against self-incrimination. It was prompted by a visit last week in which Steve Powell reportedly rebuffed FBI agents.

“It’s simply a statement to law enforcement that says my client doesn’t want to talk,” Quigley told the paper. “That’s [Steve Powell’s] right. I don’t think belligerent has anything to do with it.”

The Associated Press contributed to this report.

This number is anticipated to continue to rise to five times that rate in the next five years with over 30% of “green” home building being forecasted for 2016. Beyond 2016, builders believe over 90% of their projects will be “green.” Home buyers are seeking earth-friendly features in homes for sale, so home sellers and remodelers should take note of these statistics. Renovation work has also increased in recent years, most likely due to the shifting economy, and builders report that home remodels make up over 60% of their business, according to the recent McGraw-Hill study done in conjunction with National Association of Home Builders and Waste Management.

So, home owners and those looking for new homes with eco-friendly perks, have the “green” light! Almost half of builders (46%) have begun marketing their “green” services and are becoming well-versed in determining the best needs and options for their clients. As builders become more familiar with the processes involved with earth-friendly materials, consumer cost has decreased as well, making it a great time to upgrade your home for sale. Benefits of making these eco-friendly measures can be reduced energy costs, reduced waste, better quality of life, and peace of conscience.

To get more information on the results of the Green Home Builders and Remodelers Study, click here.

The foreclosure situation in Utah is improving. That’s according to two new reports that show a decline in the state’s rate of problem loans.

Among states, Utah had the 17^th-lowest percentage of loans in the foreclosure process, according to a report from CoreLogic on December 2011 data.

At that time, 1.7 percent of Utah homes with a mortgage were in the foreclosure inventory compared to 3.4 percent nationally. CoreLogic, a data and analytics company, defines foreclosure inventory as the stock of homes in the foreclosure process.

Compared to a year ago, Utah’s foreclosure inventory declined 0.7 percent. Nationwide, the decrease wasn’t as large, with foreclosure inventory down 0.2 percent.

“The inventory of foreclosed properties has begun to shrink, and the pace at which properties are entering foreclosure is slowing,” said Mark Fleming, chief economist with CoreLogic.

Utah’s share of seriously delinquent loans was also lower than the national rate. In December, 5 percent of Utah loans with a mortgage were more than 90 days late compared to 7.3 percent for the U.S.

The findings were similar to a separate report from LPS Applied Analytics. In that study, 2 percent of Utah loans were in foreclosure and 6.8 percent were seriously delinquent at the end of December. Again, the national rates were higher at 4.1 percent for foreclosures, 8.2 percent for delinquencies and 12.3 percent for total non-current loans.

At 8.8 percent, Utah had the 13^th-lowest percentage of non-current loans compared to other states, according to LPS. Utah’s combined foreclosure and delinquency rate fell nearly 10 percent from the prior December. That rate peaked in February 2010 when 10.6 percent of Utah loans outstanding were not current.

SANDY — Home sales in Utah last year rose to their highest levels in three years, according to a new report from the Utah Association of Realtors. The report indicated that nearly 33,000 homes sold in 2011, up almost 9 percent from 2010 and at least 5 percent from each of the past three years.

Since last July, statewide sales have climbed for seven straight months, with sales increasing dramatically in several counties, including Uintah — up 33 percent, Wasatch — up 21.4 percent, Washington — up almost 12 percent and Utah — which had a nearly 11 percent hike in sales.

By ksl.com

“We’re seeing higher sales because of increased homebuyer confidence, affordable home prices, stronger employment and record-low interest rates,” said Lori Chapman, president of the Utah Association of Realtors.

The report indicated that single-family homes had the highest sales increases for the year, climbing more than 10 percent compared to 1 percent for condominiums and townhomes. Additionally, pending sales — which measure contracts that have been signed to buy properties — were up more than 11 percent in 2011 compared to 2010.

“Based on these figures and recent forecasts, we expect the trend of rising sales to continue into this year,” Chapman said. “In Salt Lake, homes sales are expected to rise 15 percent in 2012.”

Meanwhile, as home sales rose during 2011, housing supply was absorbed, the report stated. Inventory levels were down nearly 24 percent at the end of December, with the 20,243 homes listed for sale representing a 7.2-month supply of inventory — down more than 31 percent from the 10.5-month level in 2010.

“The effect of the steep inventory drop was to bring supply and demand more in line,” Chapman explained. “Traditionally, a market is balanced between buyers and sellers when the inventory represents a supply of about six months.”

Supply was particularly tight in the low price ranges, the report said. For homes priced at or below $150,000, the supply of inventory was at 5.9 months, while the supply for properties in the $150,001 to $200,000 category, supply was at 6.1 months.

Prices were down about 8 percent in 2011 compared to 2010 with the statewide median sales price of homes sold at $174,900. The average sales price also declined about 8 percent for the year to $224,526.

“While prices remained weak in 2011, the reduced supply and increased demand suggest that trend will not continue,” Chapman said. “A new (national) report predicts Utah home prices will have increased by the end of summer, with the state having the seventh- highest appreciation in the country.”