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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (52050)	4/13/2006 7:14:38 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

"namely lack of water" well maybe the developers know something we don't, but somehow i doubt it....not exactly the same area, but a related topic in the desert sw..... newwest.net DESERT GREENS What Went Down in Utah’s Dixie? By Headwaters News, 3-28-06 Last week, we reported on a new plan in southern Utah’s Washington County that included both wilderness proposals and growth management options. Washington County, as we mentioned, is the fourth fastest growing county in the nation, and a short drive from Las Vegas, which is the fastest growing city in the nation. The county includes plenty of red rock desert and the oasis of Zion National Park. It also now includes golf courses, gated communities and million-dollar mansions. The Washington County Growth & Conservation Act of 2006 draft plan (PDF) aims to address booming development and land preservation. The general idea is to sell about 25,000 acres of public land and use the proceeds for watershed and rangeland protection, habitat preservation, education and outreach. The bill’s sponsors, Utah Republican Sen. Bob Bennett and Democratic Rep. Jim Matheson, have taken it to D.C. to be put through the political machine there, but in the meantime, the Deseret News has taken a long and thorough view of how the county came to be what it is today. Three and a half decades ago, reports the News, St George was little more than a sandy outpost between Los Angeles and Salt Lake City. But since then, growth has taken off. Writes News reporter Dave Anderton, “In 2005, more residential building permits were issued in St. George than in any other Utah city. About one in every seven new residential units built in Utah in 2005 was in Washington County, and that figure was one of every six in 2004.” He adds that some predict the county population in another 30 years will be around 600,000 people, or maybe more. The people moving here aren’t Utahns and one estimate shows that a full 80 percent come from other states. The county’s popularity can likely be attested to the fact that it grew up alongside Las Vegas, which also wasn’t much three decades ago. And the Utah county also boasts the winning combination of a warm climate; open, scenic landscapes; and “cheap” real estate, compared with that of California’s southern desert region. That seemingly cheaper real estate had created a number of millionaires who jumped into the market at the right time. Today, though, what was once an affordable dream home for middle class people, is no longer so. Home values have increased by as much as 35 percent over the last five years, but today the real estate boom is slowing, and people who want to cash out are having trouble selling their homes. But most officials say the incredible growth in the market isn’t sustainable, a slowdown is to be expected, and that a crash isn’t likely. It isn’t just the housing market that isn’t sustainable. Water is also an issue. But water has always been an issue, even when there were just a handful of Mormon pioneers living in this corner of the scruffy Utah desert. Over the years, the state and the locals have embarked on water projects to bring and store enough water for the region. Today, dams and other measures have helped the county secure 25,000 acre feet of extra water, which is enough to support about 20,000 new homes or 60,000 more people. Also in the works is a 120-mile pipeline from Lake Powell to St. George that will bring in about 70,000 acre feet of water a year. Between those two sources, county officials say they’ll have enough water to sustain growth until 2038, when the population is expected to hit that 600,000 mark. But some officials feel that that population estimates are way too low. And as of today, Lake Powell is at 44.1 percent of full pool and releasing more water than is coming in. County officials are playing around with the way water is allocated to residents and want to begin pushing more conservation measures for users. If the county continues to grow at even moderate rates, figuring that out will be essential.

To: patron_anejo_por_favor who wrote (52050)	4/13/2006 7:18:54 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

ferocious heat in the summer and lack of proximity to anything resembling civilization. By the time they get it ready to build on, gas will probably be 5+ dollars/gallon, which should really encourage folks who crave that 140 mile round trip commute......in a few years you could spend more on gas than on your mortgage note!<G/NG> otoh, though.... i just realized homes built in that area are ideal candidates for solar power <gg> build enough of those and perhaps the excess energy generated from them will be enough to supply S. CA when the colorado river runs low <vvbg>

To: patron_anejo_por_favor who wrote (52050)	4/14/2006 1:03:18 AM
From: X Y Zebra	Respond to of 306849

....there's a damn good reason no one has lived there for centuries, namely lack of water, isolation, ferocious heat in the summer and lack of proximity to anything resembling civilization. not to mention as additional reasons... heidi's himbos, rooster ranches, and such... ever been to pahrump ? queerty.com LOL !! disclosure.... (so no ill thoughts are suggested as to why i know of pahrump.... ) -g this is why i know of pahrump..... springmountainmotorsports.com they are STILL saying.... prices will be going up (maybe they were talking about something other than real estate... -lol