The latest monthly data shows total existing-home sales increased 4.0 percent.

Lawrence Yun, NAR chief economist, said more people are taking advantage of the buyer’s market. “Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing,” he said. “We’ve seen healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today’s market for buyers with long-term plans.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record-low 3.99 percent at the end of 2011. (records date back to 1971)

Total housing inventory at the end of the year fell 5.8 percent to 2.58 million existing homes available for sale, which represents a 7.0-month supply at the current sales pace.

Distressed homes – foreclosures and short sales typically sold at deep discounts – accounted for 29 percent of sales in 2011, compared with 33 percent in 2010.

Single-family home sales rose 12.9 percent to a seasonally adjusted annual rate of 3.95 million in 2011. Existing-home sales in the West rose 3.6 percent.

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The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

See full article featured in Realtor.org, "Existing-Home Sales Continue to Climb in November"

"It has become increasingly apparent to us that the pieces for a housing increase are in place," declared Barclays Capital analyst Stephen Kim in a recent note to investors.  "With the exception of a few really hard-hit markets, the vast majority is ready to turn around," adds Jerry Howard, president and CEO of the National Association of Home Builders, NAHB.  "The Washington, D.C., area is not only ripe for recovery, they need to start building more homes and units."

The catalysts to recovery are mostly the same: for potential buyers, residential rents have now risen enough to consider buying; existing-home inventory is the lowest in five years, while that of new homes is at a 40-year low; affordability is at a record high; delinquencies have peaked; consumer confidence is on the rise ; and job growth is accelerating.

For investors, with a continuation of the gold rally in question, real estate is beginning to look like a viable inflation hedge alternative, while rising rents mean greater profits.  "We believe there is sizable housing demand that could be released into the market," says Lawrence Yun, chief economist of the National Association of Realtors, NAR.  The NAR is forecasting existing home sales will rise 5 percent in both 2012 and 2013; prices will edge up 2 percent in each of those two years, then 4 percent in 2014.  The NAHB is forecasting a 5.1-percent increase in new home sales and a 10-percent increase for new home starts in 2012.

JOBS, JOBS, JOBS
The economy has created jobs 13 months in a row for a total of almost 1.9 million. Weekly jobless claims have been routinely below the key level of 400,000, and the national jobless rate is down to 8.6 percent.
A new index by the NAHB and First American, the Improving Markets Index, IMI, launched in September, tracks housing markets throughout the country that are showing signs of improving economic health. Thirty cities - including San Jose, Pittsburgh, New Orleans and Winston-Salem, N.C. - are showing growth in permits, sales and employment.
In San Diego - where in the last year the jobless rate has fallen from 10.4 percent to 9.7 percent and 24,000 jobs have been added - home inventory is down to two months; in some areas of San Francisco (9.4 vs. 10.3 percent), it is one month.

LOCATION, LOCATION, LOCATION
There's even a strong case to be made that the foreclosure crisis is easing.  For the first nine months of 2011, foreclosure activity is down sharply from the same period last year (26.59 percent), according to RealtyTrac, which tracks the data.
It's unclear how many new properties will hit the market, but conservative estimates put the number at over a million.

Still, of the top 20 markets in the new wave, nine are in California, five in Florida and two in Ohio, according RealtyTrac, so the impact will be fairly concentrated.  If the market is in fact recovering, why would banks want to weaken it again by deluging it with cheap properties.  "You could see them trying to gauge the market like speculators," answers Howard.

A contributing element to that is the unwinding of government intervention - whether to artificially spur demand - as was the case with the first-time buyer tax incentive program of 2009 and 2010 - and/or to retard and prevent foreclosures.
Many regard those efforts as largely ineffective, if not counter-productive because they delayed the inevitable - a deep descent to a market bottom, which has finally been touched.
"The numbers you're looking at you can trust," says Kim. "There are no exogenous factors."  "You're back to the natural forces of the market," says Howard of the builders association.

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See full article featured in CNBC, "Residential Housing Ready to Awaken?"

Even though home inventory levels are dropping, today's buyers are looking for turn-key homes. That is, they want to move right in without having to do a lot of work. Buyers pay a premium for homes that are in prime condition.

TIP #1: STAGE IT
Staging can make the difference between whether or not the home sells, the time it takes to sell, and the selling price.

Sellers who are financially strapped often have a hard time accepting the need to invest in preparing a house for sale.  It's important to keep your goal in mind: sell your house.

Recently, at a home at Henry Walker Homes, came on the market in a popular location and city, with other big homes nearby built in recent years.  This home was eventually completed without a buyer, and although other Henry Walker Homes priced similarly were selling, this home located didn't--even in a highly  desirable area.

Instead of dropping the price, Henry Walker Homes decided to stage the home.  In this case, staging isn't exactly the same as it is with an existing home, but the results can be. Within a week of putting furniture in an empty home, the home sold.

TIP #2: DECLUTTER IT
Although homes staged by a good decorator show well and often sell quickly, you don't need to spend a lot to put your home into shape for marketing. Most homeowners have too many personal possessions in their home from a sales standpoint. Decluttering is something most sellers need to do.

Not that everyone is a pack rat, but decluttering can be somewhat difficult considering the emotional ties people have to many of their things.  However, you'll be packing everything up after your home sells anyway, so decluttering is simply boxing up your items before the official move.  If needed, consider getting someone to help you sort, pack, donate and recycle items that you no longer want.

You may need to put away collections of art, personal photos, etc.  You don't want prospective buyers focusing in on your personal property; you want them to focus on the house. Keep in mind that how you live in your home and how it should look when it goes on the market are not necessarily the same.  Also, less personal property usually gives homes a more spacious feel. When buyers are looking for the most for their money, bigger is usually better.

TIP #3: DETACH FROM IT
Similar to decluttering your home, becoming unattached to your home is highly effective.  Getting personal possessions out of your house helps you to detach yourself emotionally from the property.

Bring in new house plants to put in strategic locations; add more lighting in dark spots; add a coat of paint to an otherwise dull room. If you can't pull this together yourself get some help from a friend or family member, or even hire a good stager for a consultation.

Being detached and looking at your home from an outsiders perspective will help you discover free or inexpensive things that can really make your home stand out - ultimately helping you sell your home faster and for more money.

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See full article featured in Inman News, "3 tips for staging your home to sell"

Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting.

The Wall Street Journal's third-quarter survey of housing-market conditions in 28 of the nation's largest metropolitan areas. It found that home values declined, rent levels have risen, and mortgage rates are the lowest in six decades.

Home ownership is looking more affordable because after several years of declines, apartment rents will rise by around 4% this year, says Mr. Nadji. He says rents are poised "to pick up even more momentum across the country next year."

A new development in Canonsburg, Pa. The inventory of homes on the market has fallen from levels seen a year ago, as prices and mortgage rates continued to decline.

Mortgage rates are a big reason why affordability continues to improve. In 1991, a $200,000 mortgage would give someone a $1,700 mortgage payment. Today, with current interest rates, the payment equals about $1,200 - $1,300/month, a 25% cost decrease for the same loan.

Inventories have fallen from their bloated levels of one year ago. All 28 cities in The Wall Street Journal's latest survey saw homes listed for sale fall from one year ago, when markets were reeling with a substantial overhang of properties amid a big drop in demand.

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See full article featured in The Wall Street Journal, "Stronger Lure for Prospective Home Buyers"

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THE ENTRADA LIFESTYLE
The Escapes at Entrada are the embodiment of Henry Walker Homes’ extraordinary attention to detail. The builder has outfitted these beautiful, efficient homes with ample windows, custom designed cabinets, granite countertops, high ceilings and open spaces, which complement the scenery around them.
Homes at Entrada range from 1,300 to 2,400 square feet and include two to four bedrooms. The homes are priced for today’s marketplace and start in the high $200s. With eight different design options of Entrada’s unique home style, each home includes extraordinary features and is built with the commitment to design, energy-efficiency and value.
This community offers world-class amenities and recreation opportunities amid spectacular scenery. One of the signature features at Entrada is the 18-hole championship golf course, which was designed by legendary golfer Johnny Miller. The course has received numerous awards and recognitions, including Golf Digest’s ranking as Utah’s best year-round golf course.
Owners of Entrada homes have access to Snow Canyon Country Club, a world-class club in the midst of one of the world’s beautiful places. The Sports and Fitness Center features over 13,000 square feet of excellent aquatic, fitness and spa services.

HOMES AT CORAL CANYON
Additionally, Henry Walker Homes features Coral Ridges, a 170-unit townhome development in Washington City. The 21-acre neighborhood, which borders Coral Canyon golf course, has homes ranging from 1,600 to 2,600 square feet. The townhomes are targeted to lifestyle buyers who want a great location, an amenities package, and maintenance free living. The community has a clubhouse, conference room and exercise facilities including a pool, playground, basketball court and fishing pond.
Located at the portal to Zion National Park, Coral Ridges offers recreational opportunities from off-road mountain biking and ATV trails, hiking, river rafting, water and snow skiing and rock climbing.
“We are excited to include Escapes at Entrada and Coral Ridges in our portfolio of property offerings for families in Southern Utah,” says John Stubbs, president of Henry Walker Homes.
Henry Walker Homes considers each home sale an important interaction and contribution to the community and takes pleasure in helping families achieves this iconic American symbol of achievement.

HENRY WALKER HOMES
The principals of Henry Walker Homes have been in the home building business for over 25 years and have been instrumental in the construction of thousands of homes in Utah. It has carefully re-engineered the building process so that everything from choosing floor plans to financing the home is simple and seamless, with the end result being an affordable new building alternative for home buyers.
The company has 15 development communities, and new home construction in Utah. It has quickly emerged as a prominent leader in new home construction.
Henry Walker Homes appeals to first-time, move-up or vacation home buyers who desire a modern personalized design.

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See PDF article featured in Living Well Magazine, "St. George Home Values Not Seen in Years"

Sales of previously owned homes got a boost last month while the number of homes on the market continued to decline, according to data released Monday by the National Association of Realtors (NAR).

The trade group recorded a 1.4 percent month-over-month increase in existing-home sales in October, pushing the annual rate of sales to 4.97 million. NAR’s latest reading is 13.5 percent above last year's sales pace.

NAR says the housing supply has been trending gradually down since July 2008.  Distressed homes – foreclosed REOs and short sales – slipped to 28 percent of October’s transactions.

“In some areas we’re hearing about shortages of foreclosure inventory in the lower price ranges with multiple bidding on the more desirable properties,” Yun said. “Realtors in such areas are calling for a faster process of getting foreclosure inventory into the market because they have ready buyers.”

All-cash sales made up 29 percent of last month’s purchases.

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See full article featured in DS News, "Existing-Home Sales Rise Unexpectedly in October"

The U.S. housing industry has scored a victory with House and Senate votes to raise the size of mortgages backed by the Federal Housing Administration (FHA).

“Restoring the higher loan limits for the FHA will provide homeowners and homebuyers with safe and affordable financing, while providing a much-needed boost to housing markets all around the country,” James W. Tobin, chief lobbyist for the National Association of Home Builders (NAHB).

While the increase is expected to spur some additional homebuying, it’s not clear by how much. FHA loans make up a smaller share of the market than those purchased by Fannie Mae and Freddie Mac.

Still, the measure was fully embraced by trade groups for homebuilders and realtors. The NAHB has estimated that 5.3 million homes lost their eligibility for conforming loans when the higher limits expired on Oct. 1. Nearly 670 counties saw their loan limits decline, according to the National Association of Realtors.
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See full article featured in Bloomberg, "Housing Wins Higher FHA Mortgage Limits"

New statewide figures from the Utah Association of Realtors show the St. George real estate market, hardest hit by the housing recession in Utah, has already started to recover.

The numbers show an uptick in home sales and signed contracts in September, the most recent figures available. Housing inventory in the area also fell, another indication that homes are selling.

And a new report from Fiserv and Moody’s Analytics predicts home prices in the St. George area will rise by 7.9 percent in the second quarter of 2012 over the same period in 2011. According to the same report, St. George will outperform the country: while U.S. prices are forecasted to fall 3.6 percent by next summer, St. George prices are expected to rise nearly 8 percent during the same period.

Lori Chapman, president of the Utah Association of Realtors (UAR), said 2011 sales through September are up, with 2,744 properties sold - an 11% increase from 2010.

Chapman said this is an ideal time to negotiate a mortgage since interest rates are hovering around 4 percent. “There are many great, great deals out there.”

Cindy Campbell, president of the Washington County Board of Realtors, said St. George remains attractive, especially to retirees and second-home buyers, because of its proximity to national parks, recreation opportunities and mild weather.

“St. George is affordable again,” said Campbell. “Our median-price homes are in line with incomes. In September alone, sales rose and our inventory decreased along with our notices of defaults and foreclosures.”

Brian Turmail, a spokesman for the Associated General Contractors of America, said construction in Utah rose 3.9 percent, one of the highest gains in the country.  The St. George area is included in the upturn.

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See full article featured in the Salt Lake Tribune, "St. George housing market showing signs of recovery"

However, thanks to a recent, 1-mile addition to the parkway, new subdivisions will soon start popping up on both sides of the street. Those subdivisions are part of the inevitable growth the city will see in the near future.

Henry Walker Homes will soon begin its subdivision, which will include homes on both the north and south sides of the parkway.

Similar subdivisions are inevitable as the city continues to extend Layton Parkway east to where it is planned to meet the proposed west Davis corridor.

Ben Hart, Layton’s economic development specialist, said the first priority for the parkway was to move people effectively from west Layton to Interstate 15.

“But it’s a very nice feature to build a road and see people who want to develop around it instead of vice versa,” Hart said.

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See full article featured in Standard Examiner, "Layton Parkway expansion completed"