Evening with Santa

Please bring the kids to an Evening with Santa on December 11, 2009 @ 6- 8:30 p.m. It will be held at the Camelot Village Clubhouse. 1763 West 1200 South, Springville (located behind Walmart). There will be a claw maching for kids, pictures with Santa and lots of gifts and food. There is no charge. Please rsvp to Clancey@kennyparcell.com or call 801-794-7777

New Development: The Village of Hawks Ranch-Saratoga Springs

Fabulous brick and stucco Rambler with over 2600 sqft, 3 bedrooms, 2 baths, 2 car garage. Our standards are other builders upgrades. Homes are built within 70 days after permit is obtained. If you would like more information or have any other questions please feel free to contact us at 801-794-7777.

You can also visit our website to see additional pictures, available lots and floor plans.

http://thevillageofhawksranch.blogspot.com/

Article from KSL.com on improving national housing market

July home sales surge more than 7 percent
August 21st, 2009 @ 8:38am

By ALAN ZIBEL
AP Real Estate Writer

WASHINGTON (AP) – The U.S. housing market is rebounding quicker than expected, with home resales in July posting the largest monthly increase in at least 10 years as first-time buyers rushed to take advantage of a tax credit that expires this fall.

The National Association of Realtors said Friday that home sales rose 7.2 percent to a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. It was the fourth-straight monthly increase and the highest level of sales since August 2007.

Sales had been expected to rise to an annual pace of 5 million, according to economists surveyed by Thomson Reuters.

“The housing market, with today’s strong rise in sales, has decisively turned for the better,” said Lawrence Yun, the trade group’s chief economist.

Sales of foreclosures and other distressed properties made up about a third of all transactions last month, down from nearly half earlier this year. In places like San Diego and Orlando, buyers are snapping up foreclosed properties at deep discounts, and real estate agents are pressing banks to release more foreclosures onto the market.

Those sales helped drag down the median sales price by 15 percent to $178,400.

First-time buyers must complete their sales transactions by the end of November to take advantage of a tax credit of 10 percent of the purchase price, up to $8,000. The real estate industry is lobbying Congress to get the credit extended.

“It would be unfortunate to see the momentum halted,” Yun said.

The inventory of unsold homes on the market rose to 4.1 million, from 3.8 million a month earlier. That’s a 9.4-month supply at the current sales pace, unchanged from June.

Home for Sale in Utah- Spanish Fork

Listing Price $200,000. Awesome 3 bedroom, 2 bath, Rambler with full unfishished basement for room to grow. Fire pit, large windows, walk-in closet, knotty alder cabniets. Very clean.

 For further assistance, please call Stephanie or Clancey at the office. Thank you for looking!  801-794-7777.

Fabulous 6 bedroom in North East Orem

Listing Price $250,000.

Quiet street. Mature trees. Enormous master with sitting room. Separate entrance for business.

 

For further assistance, please call the office and ask for Stephanie or Clancey. 801-794-7777.

Thank you!

KSL says Housing market is showing encouraging signs, and if KSL says it it must be true right? :)

Encouraging signs in the local housing market
July 20th, 2009 @ 2:42pm
By Andrew Adams

There are new signs the housing market may have hit bottom in parts of Utah.

Preliminary numbers show new home sales in the Salt Lake Valley were up 3 to 4 percent in June, compared to the same time last year. If that holds when numbers are released later in the week, it’ll be the first positive monthly, year-over-year returns since last September.

“To say that we saw sales in June 3 to 4 percent higher than June a year ago, that shows me that hopefully we have bottomed out,” says Dave Anderton, spokesman for the Salt Lake Board of Realtors.

Inventories have also been declining significantly from their peaks. There are roughly 7,700 existing homes and condos listed in Salt Lake County right now. That’s down from the peak of 10,531 in the third quarter of 2007.

There are also fewer newly constructed homes on the market. In Salt Lake County, there were 724 in the second quarter, down from 1,037 in the fourth quarter of 2007, according to Salt Lake-based firm Newreach.

Utah and Davis counties showed similar trends. In Utah County, new available homes fell from 987 in the fourth quarter of 2007 to 728 in the second quarter of 2009. That’s a decline of 26 percent. Davis County saw a 62 percent decline in the same period, from 624 new available homes to 240.

“I don’t think we’ve turned the corner,” said Coldwell Banker Realtor Dan Christensen. “I think, again, we’re much more stable than the rest of the country.”

E-mail: aadams@ksl.com

KSL article on Short Sales in Utah

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Short Sales: Taking longer and growing in numbers
July 16th, 2009 @ 2:48pm
By Andrew Adams

SALT LAKE CITY — Frustration is mounting among buyers, sellers and real estate agents as short sales take longer and become increasingly difficult.

Once taking as little as 30-45 days, real estate agents tell KSL Newsradio the process now takes anywhere from three to seven months, and in one extreme case: 15 months.

“It’s real demasculating,” says Aaron Sharp.

Sharp worked in construction and had five homes on his hands when the economy turned sour. Two of those homes he has sold through short sales. Another was a deed in lieu of foreclosure. A fourth Sharp lost to foreclosure.

“What kind of started me in the spin was obviously the decline in the mortgage market, but it was also last summer I had three of them come vacant. One of them I had to do a lot of work on to make it rentable, with money that I didn’t have,” Sharp says.

His short sales were massive headaches. One took close to five months to complete.

“You get an offer in, and then it takes a month to a month and a half for the bank to get back to you on that offer,” Sharp says. “By that time, the buyer’s gone.”

It’s an experience many people are going through in today’s poor economy. The Salt Lake Board of Realtors says one in six homes listed in Salt Lake County right now is a short sale: a home for sale at less than what is owed on the current mortgage.

Some real estate agents say understaffed and overloaded mortgage companies and banks are a big part of the problem.

“We’ve heard from loan negotiators who have said they will get 100 new files on their desk each day, and they just can’t keep up with that influx of new business,” says Alan Jones, a Realtor for Prudential in American Fork who has specialized for eight years in short sales. “They’re not going back and forth. The file is usually sitting on somebody’s desk and being ignored.”

In one case, Jones heard from a worker at one national mortgage company she had 600 filings she had to get through in 30 days. He believes many offers are simply discarded.

Other complications with short sales include changing ownerships and policies in the mortgage industry and third-party appraisers. Jones says third-party appraisers are a recent, positive development that negates fraud but adds to the time delay.

“My advice is simply you’ve got to be very patient,” Jones says. “It’s just going to take a lot of time right now.”

E-mail: aadams@ksl.com

Happy 4th of July!

I have always loved the 4th of July because it makes me think of fireworks and barbecues. I also like this holiday because it makes me think of family. I feel so lucky to live in this country, and I am grateful to those who have made and continue to make our freedom possible. Hope everyone has a wonderful 4th of July weekend!

June Closings

SOLD - Short Sale

 

Time to say goodbye to June and welcome in July. June was a great month here at The Kenny Parcell Team. There were several large events that happened in the month of June for our team.

•  On June 10th, Kenny and Heather welcomed their beautiful baby boy Wyatt into the world. We are all so happy for Kenny and Heather.
• On June 12th, I (Clancey) became a mother-in-law. My son Casey married Nickelle Corless. The wedding was beautiful and we didn’t get rained on until 9.
• On June 19-20, Brad Iverson did the Wasatch back relay race. This is a relay race that goes from Logan to Park City. Each team member runs three legs, ranging between 3 and 8 miles. Brad did a great job and we are all super proud of him.

We also would like to thank the following people for either buying or selling a home in June.

• Suzi Jenkins – (Sold a home)
• Sam Schultz & Pam Valdez – (Purchased a home)
• Justin & Corrie Killian – (Sold a home)
• Keith & Jamie Richards – (Sold a home)
• Brayden & Katelyn Green – (Purchased a home)
• Mark & Jen Mays – (Sold a home)
• Casey & Amy Foote – (Sold a home)
• Emily Anderson – (Purchased a home)
• Larry & Amy Bastian – (Sold a home)
• Tanner Light – (Purchased a home)
• Ken & Diane Wilkins – (Sold a home)
• Joe & Celinda Jensen – (Purchased a home)
• Jose Suarez – (Purchased a home)
• Dennis & Laura Decker – (Purchased a home)
• Michael & Melissa Feld – (Purchased a home)
• Dan Larsen & Kayela Matthews – (Purchased a home)

Thanks again for allowing us to help you buy or sell a home.

We wish everyone a Happy and Safe 4th of July!!!!

Brad shakes off years of sedentary living and completes the Wasatch Back relay!

In a complete 180 degree change (for those who know me), I was able to get up off the couch and compete in the Ragnar Wasatch Back relay race from Logan to Park City. I was conned into this 188 mile 24 hr journey by my 4 siblings. One of which will be pictured here. It was a great time. Running 5 miles three different times 6pm then 2:30am then 11:30am in 1.5 days. I did sleep for a total of 3 hrs. What a deal!