MAKING NUYS: Vesta Sponsors Northern Utah Youth Symphony

February 25, 2017 Posted by: Jeremy Peterson

Vesta Real Estate is proud to have sponsored the recent concert of the Northern Utah Youth Symphony held at the Ogden High School auditorium.  The performance was brilliant and the venue could not have been better for the occasion.   We are glad that our sponsorship was able to make the performance free to the public and those 400 or so in attendance.  Classical music both touches the heart and invigorates the mind.  It is especially satisfying to see our youth involved in this difficult and tedious performing art.

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Posted In: Miscellaneous

UNDER NEW MANAGEMENT: Renovated Syracuse Rambler

February 18, 2017 Posted by: Jeremy Peterson

We just took over management for this nicely finished rambler home located in Syracuse, Utah.  The home sites on a quarter acre lot with a fenced back yard.  Lots of parking.  The home is a 3 bed 1 bath configuration with an mother in law apartment in the basement.   This unit will be available very soon.  Visit our rental listings page for current availability.  

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Posted In: Property Management

OGDEN RISING: Dee Demolition and Commercial Come-Down

Posted by: Jeremy Peterson

Ogden City has been spending a lot of effort to rejuvenate its city center.  There are many buildings that have sat fallow for some time or have run past their ‘best used by’ date.  Fortunately, progress is being made.  Here are a couple examples. DEE SCHOOL     Dee school is an icon in Ogden.  Build in the 1970’s when avant-garde school architecture was in vogue, this school boasted a circular floorplan with no interior walls!  Whoa!  My two oldest children had the opportunity to attend the school when they […]

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The End of the 30-Year FHA Mortgage?

January 19, 2017 Posted by: Jeremy Peterson

The 30-Year fixed mortgage has been a mainstay of the housing market since the Great Depression.  The collapse of the banking industry at that time sparked government intervention to prop up the housing market.  Since then, home buyers have enjoyed taxpayer backing via FHA loans to help them purchase a home.  The loans have unusually low down payment requirements with buyers needing just 3.5% of the purchase price to put toward equity up front.   However, when you live by government whim, you die by it as well.  The recent change […]

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Posted In: Uncategorized

JUST SOLD! Renovated Ogden Rental

January 16, 2017 Posted by: Jeremy Peterson

I just recently closed on the sale of this listing located at 968  Jefferson Ave. in Ogden.  This home was purchased by the owner back in 2009 and used as a rental property until recently.  The tenant vacated in late Spring and the owner wanted to have the home made ready for market.  We organized the renovation of the property and prepared to put the home’s best face forward. The home is petite with just 670 SQFT upstairs and a partial basement space that is half finished.  The home sits […]

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Posted In: Sold Listing

JUST SOLD!  Downtown Ogden Cottage

January 15, 2017 Posted by: Jeremy Peterson

I just closed on the sale of this home located at 472 21st Street in Ogden, Utah.  The home is located just a half block from the recently updated Ogden LDS Temple and sits near the site of future development.   The home is 1020 square feet split between the main and upstairs level and was constructed at the turn of the century in 1900.   It also has a two car garage that was recently converted from a run down crack house to a more noble purpose. This particular […]

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Posted In: Sold Listing

JUST SOLD! Ogden Victorian Diamond In The Rough

January 10, 2017 Posted by: Jeremy Peterson

  I just closed on the sale of this unique and amazing Victorian home located at 2002 Jackson Ave. in Ogden, Utah.  I originally listed this home for the owner in 2013 for $79,500.  At that time, the real estate market was still in early recovery and the condition of the property prevented buyers from moving forward on purchasing and fixing up the home.  The owner didn’t want the home to languish on the market and after several months of little interest, we pulled the listing. Recently, another agent took […]

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Posted In: Sold Listing

JUST SOLD!  Syracuse Tri-Level Rental

January 4, 2017 Posted by: Jeremy Peterson

I just closed on the sale of this listing in Syracuse.  Located at 2049 W 1175 S, this property served as an income property for its owner for the past several years.  We took over management of the home in 2014 and had kept it occupied nearly the entire time.  Recently, however, the owner expressed an interest in selling so we took steps to make that happen. Our first issue with selling the property was that the tenants had a lease agreement through March of this year.  If we sold […]

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Posted In: Sold Listing

SINKING FEELING:  Woods Cross Sagging Foundations and Fortunes

December 21, 2016 Posted by: Jeremy Peterson

  KUTV recently reported on the prevalence of sinking foundations in subdivisions in Woods Cross, Utah just north of Salt Lake City.  Typically, we find foundation settling in areas where water is prevalent or changes in the water table occur.  In Woods Cross, city officials are still trying to figure out what is causing the problem. Meanwhile, homeowners are left in the lurch wondering what to do.  Foundation repairs are very expensive.  Yet, a home’s value becomes questionable if its foundation is constantly at risk of being compromised. Here is […]

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Posted In: Real Estate News

Dutch By Design: The Slave Plantation Ruins of St. John Island

December 14, 2016 Posted by: Jeremy Peterson

I recently had the opportunity to travel to the U.S. Virgin Islands.  During the visit I took a ferry from St. Thomas where I was staying to Cruz Bay on St. John Island.  St. John is a fairly small island with the majority of it being a National Park.  The beauty is breathtaking.  Yet, to contrast that beauty lay the ruins of the old slave plantations that operated on the island until 1848.  I had an opportunity to explore them and learn a lot about construction in tropical climates. St. […]

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Posted In: Miscellaneous

JUST SOLD! Ogden 3 Bed 2 Bath Cottage

Posted by: Jeremy Peterson

I just closed on the sale of this listing located at 2945 Brinker Ave. in Ogden.  This 3 Bed 2 Bath home was originally listed in June for $144,900.  The home had been a rental property and the owner asked us to get the home ready for market.  We ordered the carpet replaced and paint redone in several rooms.  The home was then ready for show time. Once we got the home on the market, it became apparent pretty quickly that we had been overly optimistic on our pricing. We […]

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Posted In: Sold Listing

JUST SOLD! Ogden Mid-Century Rambler

December 13, 2016 Posted by: Jeremy Peterson

I just closed on the sale of this mid-century rambler with some buyers in Ogden.  Located at 682 35th Street, this property sits behind Leavitt’s Mortuary.  The orientation of the lot provides for mountain views without the possibility of being obstructed by future development. The home was listed in September for $179,900.  However, the owners had placed a tenant in their mother-in-law basement and their presence kept the home from being shown.  The tenant expressed their intent to leave and the owners had moved out of state which motivated the […]

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Posted In: Sold Listing

JUST SOLD!  2 Bed Hamlet Townhome – Midway, UT

November 29, 2016 Posted by: Jeremy Peterson

We just closed on the sale of this townhome in Midway that we listed a just a month ago.  The property was listed at $199,900 on the 20th of October.  Several days later we received an offer from an excited buyer.  They offered $195,000.  Later, they adjusted the offer to $198,300 to help cover the buyer’s closing costs of $3,300.  Inspections and appraisal went very smoothly an the transaction closed on the 18th of November.   Congratulations to our sellers!  

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Posted In: Sold Listing

JUST SOLD! Tiny House Cottage

Posted by: Jeremy Peterson

I just closed on the sale of this tiny cottage in Ogden.  The owner purchased it in 2011 for just $38,000 and it has served as a rental property in our management portfolio since that time.  In 2015, the owner ordered a major renovation of the building.  He installed new windows, kitchen, bathroom, and more.  The total renovation costs were about $10,000 to get the home looking in tip top shape.       Here is a before and after video of the renovated cottage:   In June of 2015, […]

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Posted In: Sold Listing

CHART: Utah House Bubble 2.0?

Posted by: Jeremy Peterson

Is Utah’s housing market overheating?  Based on historical charts, it seems that it’s a good question to be asking right now.  In the third quarter of 2016 (ending September) house prices in the Ogden-Clearfield Metro Statistical Area increased 1.86% from the previous quarter.  They are up 7.66% over the past year and a whopping 26.4% from 5 years ago.  Certainly, it has been a great time to own real estate.  But how long can these month-over-month increases in property values continue?     The above chart shows an inflation adjusted […]

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Posted In: Research

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