Monday, January 13, 2014

Ogden Valley Condos and Townhomes Sales Graphs

The following graph depicts sales of condos and townhomes in the Ogden Valley from 2011 thru the end of 2013. It includes the median sold price, total number of homes listed, and number of homes sold during this time frame, and is broken down by quarter.




























Looking at the 4th quarter of 2013 you’ll notice that all three indicators are rising, with the median sold price showing the most significant increase. Although the number of homes listed is on the rise, it’s only a slight increase when compared to the sold price and the number of homes sold, meaning prices are likely to be on the rise. If you’ve considered selling your condo or townhome, this is an excellent time to put it on the market.

Many Ogden Valley condos and townhomes are purchased by vacationers who come to the area for skiing. With all three ski resorts open and in full swing, I’m here to tell you that the tourists are in town. Snowbasin ski resort recently reported a record day of ticket sales, and the road coming down from Powder Mountain has a steady traffic flow at the end of the day. One of the biggest ski weekends of the season is Presidents Day, January 20th, and with yesterday’s storm total, 10” at Powder Mountain, 4” at Snowbasin, and a promise from the weather forecasters of mostly blue skies and not too cold temps, it’s shaping up to be a fabulous holiday weekend on the slopes.

If you’ve been thinking of purchasing an Ogden Valley condo, get in now before prices and interest rates go up. If you’re thinking of selling your Ogden Valley condo, contact me today for a free comparative market analysis. Wendy Crook - 801-791-3955; wendycrook@kw.com; www.UtahMountainPropertyTeam.com

Banff Mountain Film Festival


The 2013/14 Banff Mountain Film Festival is coming to Ogden Utah. This spectacular event is brought to you each year by the Ogden Valley Winter Sports Foundation as a fundraiser to support winter sports programs for children age 6 thru 18, including the Ogden Valley Ski Team.

The film festival will be held at Peery's Egyption Theater in Ogden, February 15 & 16, 2014. Tickets can be purchased at the box office, 801-689-8700, email: boxoffice@perrysegyptiantheater.com; or Smith Tix 1-800-888-8499.

Preview clips of the films: Banff Previews

Don't miss these wonderful adventure films. Get your tickets early as seating may sell out.


Saturday, December 28, 2013

What You Should Know About Your Home and Your 2013 Taxes

By: Dona DeZube
Published: December 12, 2013

It’s the last year for three sweet home tax benefits, but the first for a way simpler home office deduction.

These days few things start a fight on Capitol Hill faster than taxes. Despite the fact that three important tax benefits used by millions of American homeowners are days from expiring, Congress is unlikely to do anything to re-up them any time soon.



So if you’re eligible, tax year 2013 is possibly the last time to claim the private mortgage insurance (PMI) deduction, the energy tax credit, and debt forgiveness benefit, all of which all expire on Dec. 31, 2013. 

At least there’s one piece of good news for homeowners: If you have a home office, there’s a new, simpler option for calculating the home office deduction for which you may qualify on your 2013 taxes.



Meanwhile, here’s what you need to know about those expiring benefits as you ready your taxes:

PMI Deduction



This tax rule lets you deduct the cost of private mortgage insurance, which is what you pay your lender each month if you put down less than 20% on a home. PMI protects the lender if you default on the home loan. Your deduction could amount to a couple hundred dollars depending on your tax bracket and other factors.
 
Energy-Efficiency Upgrades



This sweet little tax credit lets you offset what you owe the IRS dollar-for-dollar for up to 10% of the amount you spent on certain home energy-efficiency upgrades, from insulation to water heaters. On the downside, the credit is capped at $500 (less in some cases). But on the bright side, the right improvement could lower your utility bills indefinitely. 



Debt Forgiveness



When you go through a short sale, foreclosure, or deed-in-lieu, your lender typically lets you off the hook for some or all of what you owe on your mortgage. 

That forgiven mortgage debt is income, on which you’d typically have to pay income tax. 

Suppose you’re in financial distress and your lender agrees to let you short-sell your home, say for $50,000 less than you owe on the mortgage, and forgive you for the balance. Without the protection of the Mortgage Debt Forgiveness Act, you’ll owe income tax on that $50,000.



It’s likely if you had the money to pay income tax on $50,000, you’d have used it to pay your mortgage in the first place.

New Simplified Option for the Home Office Deduction

This may be the last year for the benefits above, but a new one kicks in for the 2013 tax year. If you work from home, you may qualify to use a new, simplified option for claiming the home office deduction when you file your 2013 taxes.


How much simpler is it? It lets you claim $5 per sq. ft. for up to 300 sq. ft. instead of having to compute the actual expenses of your home office using a 43-line form. To calculate the square footage of your office, just multiply the length of two walls. For example, an 8-by-10-foot room is 80 sq. ft. And at $5 per, that’s $400.



Although using the simplified option is obviously easier, the basic requirements for claiming the home office deduction haven’t changed. Your home office still must be used for business purposes:  Exclusively, and On a regular basis.
 
Why Might the Tax Benefits Not Be Renewed?



Although the expiring tax benefits were renewed retroactively in past years, that may not happen in 2014 because many in Congress would like to see comprehensive tax reform rather than scattershot renewals of individual provisions. This could delay a decision on the homeownership tax benefits until the big picture budget and tax issues are resolved.



So if you can, enjoy them now!

Wednesday, November 13, 2013

Ogden Valley Condos Are Selling Fast!

If you've been thinking about investing in a condo in the Ogden Valley there's no better time to buy than now. Interest rates are low, prices are reasonable, and there's still a fairly good selection of units on the market both in Eden and Huntsville. But interest rates and prices are on the rise, and the inventory is starting to dwindle.

Number of Ogden Valley Condos Sold by Month:
  • June 2013 - 4 units sold
  • July 2013 - 3 units sold
  • August 2013 - 4 units sold
  • September 2013 - 1 unit sold
  • Octover 2013 - 3 units sold
  • Novemer 2013 - 1 unit sold to date (11-13-13)
These numbers aren't terribly impressive until you take into consideration that there are currently 10 units under contract!

During 2012 only 20 units sold, and so far for 2013 a total of 26 units have sold. There are currently 32 units on the market with prices starting at $68,900 for a refurbished one bedroom unit in Wolf Lodge, to $560,000 for a four bedroom, 4 bath, deluxe waterfront unit in Lakeside Village.

View all Ogden Valley condos on the MLS

View a video of Wolf Lodge Unit #405

 Contact me today and let me help you find the perfect Ogden Valley condo. 801-791-3955; wendycrook@kw.com

Thursday, October 17, 2013

New Listing - Wolf Lodge Condo

The Wolf Lodge condominium project is one of the first condominium developments in the Ogden Valley. Most of these units could use a little updating, but for the money they're a real steal now. They have all of the amenities of newer developments, clubhouse, swimming pool, exercise room, hot tub, tennis, mini golf, playground and more, but have fewer units, so it's a more quiet and peaceful location. Located at the base of Powder Mountain, they're a frequent stop for vacationers during ski season. If you've thought about owning a condo for investment or vacation this is the time to buy. Even if you're looking for a place to make your year-round home, you won't find a more affordable location in the Ogden Valley.

Following is a new listing I just took for a very well kept unit in Wolf Lodge. Unit #405 with 2 bedrooms and 2 bathrooms, located in building 4 which is adjacent to the Wolf Creek golf course for unrestricted views. This building is also at the end of the parking lot which means no through traffic. At 1,152 square feet, it's one of the larger units in the development. Have a look at the video below....



For a personal tour of this unit or other units at Wolf Lodge, call or email me today! 801-791-3955; wendycrook@kw.com

View all condos for sale in Eden

Sunday, September 29, 2013

Fall in the Ogden Valley

Fall is my favorite season. I love the crisp clear days, cool nights, and autumn colors. With the departure of September, we've seen frost on the lawn, flurries in the sky, and a dusting of snow at the tops of the mountains. Following is a pictorial review of September in the Ogden Valley:
 The changing weather brings tumultuous storms but sometimes beautiful skies.
 Pumpkin patch along the Weber Pathways bike path.
 Sumac trees changing colors.
 The first snow of the season on top of Snowbasin ski resort.
 A black sheep in Huntsville, Utah
Beautiful golden colors of fall at the Monastery in Huntsville, Utah

Thursday, September 19, 2013

Last Chance for Affordable Huntsville Horse Property

HURRY! .... If you've been looking for affordable horse property in Huntsville, Utah, this is your last chance to purchase this great home located on a dead-end street near the Monastery. This property has beautiful mature trees for shade in summer, great views of Snowbasin, a barn for all your toys, fencing for the horses, and plenty of water. The owner can't afford to leave it vacant much longer, and will soon be taking it off the market and looking for renters. Call me today to tour this property before it's too late! The price has recently been reduced to $285,000.



Visit my website: www.UtahMountainPropertyTeam.com
Contact: wendycrook@kw.com; 801-791-3955