The Home Run Grant: One Month Later

The Home Run Grant started March 19th and has been helping people purchase new homes for over a month. As banks become more familiar with the process, it is becoming easier to get this free money. There have been 530 people who have used the free $6,000 so far. 312 of those purchased homes in March and 219 have purchased homes in the first two weeks of April.

South Jordan is leading the way in taking advantage of this grant. The UtahDave team is local so we can find the best properties that qualify for the grant. I am delighted to see the area succeed and want to help it continue to grow. Recently, Kim used the $6,000 grant money to pay her closing costs and move into Daybreak. Here's a table of the top 10 selling locations that have been using the Home Run Grant.

The Salt Lake Tribune reported that, "Ivy Zelman of Zelman & Associates, in New York, picked Utah as the No. 1 market in the country poised to recover from the housing slump." This is an additional benefit of the grant. Not only does it help people purchase homes, but it helps stimulate the economy by creating jobs. This means that those homes purchased with the grant will quickly increase in value as the housing market recovers. The steadily increasing demand for homes is helping to create more jobs around the state.

There is no cap on the price of homes that qualify for the grant. Almost 18% of the homes purchased with the Home Run Grant have been over $300,000. Instead of price, eligibility is determined by your income. That means if you currently own a home you can sell it and use the equity and the grant to upgrade to a new home with a higher value. This graph shows the price distribution of homes being purchased with the Home Run Grant assistance and the income of the home buyers.

For more information about the grant, and to see if you can qualify, check out my blog: What is the Home Run Grant?

There is also a free, non-obligatory loan application you can fill out to see if you qualify for the grant.

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Top Places to Sell a Home in Utah this April!

Recent statistics show where homes have been listed and sold. Based on these statistics we can predict where the homes will be selling this month. These areas are Utah's hot spots! While most areas are struggling to sell, those living in these areas can get top dollar for their home because of the high demand! Those looking to buy in these areas may expect to pay a little more, but they can count on being able to sell their home if they ever need to. For those who are living in these areas thinking of selling; now is the best time! These areas are Utah's Hot Spots to sell homes right NOW.


1. SLC Zip 84103 Price Range: $300K - $350K
Sales History Click Here List of Homes for Sale Click Here


2. SLC Zip 84109 Price Range $200K - $250K
Sales History Click Here List of Homes for Sale Click Here



3. Centerville Zip 84014 Price Range $100K - $200K
Sales History Click Here List of Homes for Sale Click Here



4. Sandy Zip 84093 Price Range $200K - $250K
Sales History Click Here List of Homes for Sale Click Here



5. Layton Zip 84040 Price Range $100K - $200K
Sales History Click Here List of Homes for Sale Click Here



6. SLC Zip 84121 Price Range $200K - $250K
Sales History Click Here List of Homes for Sale Click Here



To View the History for all Zip codes and price ranges Click Here



Here is what else is going on with the market:

We are on track to be 25% lower than last year. This is Good News for Buyers!

In January 2008 there were 645 homes sold. This January there were 447 sold. Sales for 2009 were 31% lower than they were a year ago. In February 2008, 766 homes sold. This February 553 homes sold. In February the sales were only 28% lower than last year. In 2008 there were 966 homes sold in March. This year there have been 720 home sold . This will mean that sales are only down 22% compared to last year. Here is that information in a table:








There were about 1200 homes under contract in March and 720 of those have sold. That is a 60% sell rate once the homes are under contract. Currently there are 1408 homes under contract. Based on last month’s percentages we should see 850 homes sell. This number may be even higher because of the steadily increasing market!!