Salt Lake City, Sep 9 2005 /PRNewswire/ -- Perfect Home Living, Utah’s leading real estate marketing and development services team, provides further explanation surrounding the mysterious increase within the Utah’s housing market.  The Insider – the online publication presented courtesy of the Utah Mortgage Lenders Association has an article entitled: UTAH HOME PRICES ON THE RISE? – with excerpts reprinted from the Deseret Morning News. 

The article in essence tells that the 5.29 percent rise in home pricing across the Wasatch Front is good news, however nothing could be further from the truth.  Especially when considering Utah’s lackluster economy and low end paying jobs that run as rampant as do the above national averages for foreclosures and bankruptcies within the state, therefore making it hard to believe such increases are abound.

In highly desirable locations across the country the cost of housing has skyrocketed.  Places such as Martha’s Vineyard or the hills of Hollywood can easily be justified as the last of great property, but when it comes to Utah the landscape is certainly different.  So what makes Utah Housing rise to its highest levels since 1997?  Answer: SUNCREST. 

For those unaware, the land development of SUNCREST has had a stagnant affect on the City of Draper, its residents and the outlining communities that surround it.  Those seeking to escape the high density madness have routinely used inflated sales prices between the new land developer (Terrabrook) and various Utah home builders as comps for the selling of their own single family residence.

Unfortunately for families facing foreclosure, these inflated values are often included by appraisers, even in instances where the existing residential home was built 20 to 50 years prior.  The confusion of which subdivisions to include and which to exclude has and continues to be a serious issue for debate.  The development of SUNCREST is yet another testimonial of comparable accountability that will leave Utah families with increased risk of foreclosure, bankruptcy or worse both.