Cache County is proposing a zoning change where 4 houses can be built on smaller lots but still only 4 per every 40 acres. The 40 acre parcel would be divided so that 70% of the land would be used for Greenbelt, and 30% for Residential. As incentive for rural land owners subdividing using this method, they are talking about allowing 5 property’s in the residential portion, as long as 70% remains the greenbelt, agricultural lot. The 70% agricultural percentage will have no rights for building homes. They are also talking about reducing the greenbelt back taxes currently required when agricultural land is converted to residential.

This appears to be a good way to preserve some of the rural Cache Valley Farm land, while also allowing the farmers to get more money from their land. Most people who want to live in rural areas, don’t necessarily want to take care of a full 10 acres of land. Two or three acres is usually enough land for the large gardens, and pasture areas they want. People that want to live in the country, usually want to for the open space and rural feel. This is a possible solution that can better the situation while helping Cache Valley land to maintain its rural identity.

Originally Posted at Logan Real Estate Blog

Close to the Idaho border, Cache County is far from the bright lights of Salt Lake City. Despite the distance from the state’s urban center, the county has a diverse economy comprising of education, manufacturing, medical services and high-tech research. Utah State University conducts extensive aerospace research for the Department of Defense and NASA.Medical personnel clock in at various medical services companies, including Logan Regional Hospital, Thermo-Fisher Laboratories and Campbell Scientific. With a young population and access to some of the most beautiful scenery in the country in protected areas like the Cache National Forest and the Caribou National Forest, local government and public school jobs are also thriving. — F.R. via Where the jobs are – Cache County, UT 10 – Money Magazine.

via Cache County Ranks 10th Nationally for Job Growth – CNN Money « Logan Real Estate Blog.

There were a lot of buyers that made sure they bought during the first half of the year, that probably would have bought later in the year were it not for the $8,000 incentives. We’re now starting to see a pretty substantial decrease in home sales, especially among first time home buyers.

Cache County Residential Real Estate (Homes and Condos) Market

For single family houses in Cache County Utah, sales were up 8.76% from a year ago. There wasn’t really a price disparity between the percentage change of more expensive homes and less expensive homes. Cache Valley homes priced below $200,000 saw a sales increase of 8.76%, and Home’s priced above $200,000 saw an increase by 8.77%. Last year, homes priced above $200,000 saw a 41% decline compared with the first half of 2008.

Sales of Condos in Logan Utah were more than double last years numbers. 92 Condos and Townhouses sold this year compared with just 43 at this time last year. The average price of condos also declined, the average sold price this year of $124,100 is 10.66% less than last year. The median sales price of condos was just down by 5.14%.  Read More about Cache County Home Sales

While the quantity of homes that sold was up, prices were way down. The median price of homes sold in Cache County through the first half of the year was $156,000, down 8.18% compared with last years median price of $169,900. The average sold price was down slightly more at 8.54%.

Cache Valley Land

There is some improved news for Land Owners in Cache Valley, 2010 land sales are up 33% compared to the first six months of last year.
So there have been 48 land parcels sold in Cache County this year. 17 of these were residential lots less than half an acre. The median price of these residential lots was $56,000 and the average sales price was $53,517. There are 11 plots of land under contract right now.

While Cache Valley land sales are improved, it still has a long way to go to before the Logan real estate market is balanced and land owners can expect their properties to sell for what they want, and in a timely manner. There are currently 203 lots less than half acre currently for sale, and an additional 302 lots for sale on parcels bigger than .5 acres. At this sales pace, Cache County has about five years worth of active real estate inventory. More on Cache County Land Stats

Logan Multi Family Sales

Multi Family Home Sales in Cache County have been pretty slow through the first six months of the year. Just five Logan duplexes, and 8 four-plexes have sold thus far.  The duplex sales numbers are actually down from a year ago when six duplexes sold in the first six months of the year. Right now there are 15 duplexes for sale in the Logan area. The median list price of these duplexes is $155,000, with an average price of $167,000.  The duplexes that have sold this year have been very inexpensive with an average sales price of just $122,690.

Sales of Condos in Logan Utah were more than double last years numbers. 92 Condos and Townhouses sold this year compared with just 43 at this time last year. The average price of condos also declined, the average sold price this year of $124,100 is 10.66% less than last year. The median sales price of condos was just down by 5.14%.

While the quantity of homes that sold was up, prices were way down. The median price of homes sold in Cache County through the first half of the year was $156,000, down 8.18% compared with last years median price of $169,900. The average sold price was down slightly more at 8.54%.

Most of the individual cities in Cache County saw improvements in home sales, with the exception of Providence, and Hyde Park Real Estate. Logan Real Estate sales were up 18.14%, Smithfield Real Estate Sales Rose 26.79%, Hyrum Real Estate Sales increased 24.5%, Nibley Real Estate sales improved 20.6%, Wellsville Real Estate saw 5 more home sales, North Logan Real Estate sales increased 26.7%, and the rural Cache County communities saw home sales improvements of 16.33%.

Via – Logan Real Estate Market Conditions

$85,000.00
558 E FERNWOOD DR, Hyrum, UT 84319
Hyrum Rambler/Ranch built in 1974
4 Bedrooms, 1 Baths, 2076 Square Feet
MLS #: 959316

Wow. A very inexpensive home in Hyrum was listed yesterday. It has more than 2,000 square feet, and four bedrooms and is priced at just $85,000. That’s just $41 per square foot, which is an incredible price. The initial indication of listings like this is that the price is too good to be true, which likely means there is something seriously wrong with them. All I can see from this one thus far is that it is a Short Sale, and the listing agent probably wants an immediate offer. From the pictures this certainly doesn’t look like an $85,000 house. It actually has a tax value of almost $140,000. It looks like it could be a great deal for someone. Click the address hyper link for the full MLS details of this property.

via New Hyrum Utah Real Estate Listings: New Hyrum Utah Home Listings for 04/25/2010.

For Cache Valley, homes above about $300,000 are generally considered high end homes. Homes above half a million are what I consider “Ultra high end homes.” Right now, Cache Valley has 44 homes listed that are priced above half a million. In the last 10 years, just 73 homes have sold, and 53 of these homes were less than $650,000.  Homes more expensive than $650K have an even slimmer potential of being able to sell.

Twenty-Four of the current ultra high end homes for sale in Cache Valley are priced more than $650,000. Since the MLS started keeping track of statistics in the early 90’s, Cache County has only had 21 residential properties listed at more than $650,000 sell, and some of these actually sold for less than $650K. If the pace of these homes doesn’t pick up, we have about 20 years worth of real estate inventory. There currently aren’t any homes priced above $650,000 that are under contract.

via Sad News for Sellers of “Ultra High End Homes” in Cache Valley « Logan Utah Real Estate Blog.

Traditionally, open houses in Logan are pretty ineffective. There are rarely more than a handful of lookers who actually come view the homes, and most of the people that look are just curious neighbors. I have only ever heard of one home selling in Cache County as result of an Open House.

The timing of this open house weekend though should be pretty good though. The weather should finally be nice after a long dreary Cache Valley winter, and with the expiration of the home buying tax credit just a few weeks away, there are plenty of “motivated” buyers out there.

In general, open homes are a nice way for potential buyers to get a feel for prices of homes for sale, and what to expect, without being really committed towards buying.

Here is a list of some of the homes that should be open to the public sometime this Saturday, April 10th, 2010. Cache Valley Open Houses.

You can also use this link to view all of the current Logan Utah Homes for Sale.

via Open Houses Weekend in Logan – April 10th « Logan Utah Real Estate Blog.

Even more impressive is the huge advantage Cornerstone has for the number of buyer transactions among the major Cache Valley Real Estate brokerages. For the second quarter, Cornerstone had nearly three times more buyers transactions than Parker Real Estate, Youngblood Real Estate, and ERA Advantage Realty. It also had nearly twice as many transactions as Century 21, @Home Realty Network, and Coldwell Banker.

Buyers are choosing to use Logan real estate brokerages that know how to use technology and that are on top of things.

Is it possible to find any real estate in Cache Valley for around $50,000? Yes, occasionally real estate in Cache Valley is priced around $50,000. But only if it’s a mobile home without land not actually real estate, meth-house, or complete fixer upper. Also, Mt. Aire Garden Condos can sometimes be purchased for close to the $50,000 range, one sold for $64,000 last year.Last Year a 3 bedroom Meth House in Smithfield sold for $69,900, a strange 780 square foot green pre-foreclosure twin house sold “as is” for $49,523, and an 1894 built home in Richmond sold “as is” for just $40,000.So while it is possible to get homes for around $50,000 in Cache Valley, these properties aren’t going to be quality “nice homes.”View all Cache Valley Homes for Sale Now!

via Is it Possible to Buy Cache Valley Homes for Less than $50,000? « Logan Utah Real Estate Blog.