03 January 2007

Another New Year In Tooele Real Estate

Another new year in Tooele Real Estate ! Like everyone else this time of year, my thoughts had been on the upcoming one.

The dreaded "New Years Resolutions".

I'm no different than everyone else. Diet (already blown) excercise (missed first 3 days already), etc.

Then the Tuesday night edition of the Tooele Transcipt Bulletin arrived with the headline:"2006 Top Ten Stories", and I started reading about the year gone by. As I read, it suddenly occurred to me that many of the top 10 were directly or indirectly related to Real Estate or private property issues within Tooele County. From the debate over spent nuclear fuel rods, to the economic impact of the Miller Motor Sports Park, from skyrocketing home prices to skyrocketing school enrollment, all of these issues have had or soon will have an effect on quality of life and property rights issues in the County. The conventional wisdom, backed up by a study by the Sutherland Institute, says that our property values would have been adversely effected by the "temporary" storage of spent fuel rods. 

Even with record setting home price increases, we are still growing at an amazing rate. That growth fueled the need for the school bond that was passed this year. The Cities and Counties love the tax dollars that growth brings, but it will come with a price. That price is in affordable housing. I believe that you will see an increase in the homeless population as rents increase across the board, as always affecting those least able to afford it.

Tooele City passed an ordinance increasing the minimum size of a new home built in the city from 900 to 1100 sq. ft. Doesn't sound like much until you realize that building a home runs around $100 per foot! But, what it comes down to is, we are growing because it's still cheaper to live here than in the Salt Lake Valley. I have a good friend that moved to Utah some years ago. He found out where he would be working, then drove until he could afford a home! In his case, it's about 45 minutes. With a huge chunk of our friends and neighbors commuting into the valley, it's obvious that many have the same philosophy. Add to the equation the quality of life we enjoy here, and it's a great deal! As the year goes on, watch the Transcript and you will start to see that many of the "Top 10" stories of 2006, have not completely played out yet. I think you will find, we may be reading about the same stories as we begin 2008! 

Stick around, this promises to be another great new year in Tooele Real Estate.

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