GayRealEstate USA

LGBT Zipcodes -- Foreclosure is Not a Dirty Word -- Utah

By Jeff Adolph

Foreclosure and Investment

Salt Lake City - Utah, one of GayRealEstate USA's gayest zip-codes has many homes along the Wasatch Front - in varying price ranges - that have been foreclosed. From the budget buy to the multimillion dollar mansion, Salt Lake Valley has a plethora of homes on offer for the discerning buyer.

The tale in this region is not unusual - many buyers purchased their dream home using exotic mortgages and loose lending standards, and enjoyed the benefits appreciation provided. However, when this boom stood still, and prices began to recoil, banks were then forced to tighten their lending criteria as unpaid loans brought about the nation's credit crisis. This in turn then saw home prices along the Wasatch Front drop, and those expensive homes became unaffordable for many who could not meet these new loan standards.

As Randall Wall, a local Realtor said,"If the market would have just kept going up, theses people would have done great."

Utah ranks tenth in the nation for foreclosure, and RealtyTrac, a national real estate tracking service said that 1 in 600 homes in this region are behind in loan repayments.

While it is heartbreaking for those who are foreclosing, and many of us feel for them, it is also worth noting that bank owned homes offer an opportunity for home buyers and investors to grab a bargain. For example -a home that owes the bank $900,000 may sell for up to $150,000 less, and homes that are priced in the mid-to-high $100,000's may sell for $50,000 less.

Wall, who also invests in real estate, said that banks are often open to negotiation and will accept offers in most cases. Simply put, if a bank accepts your offer, you're the winner, because you saved a considerable amount and this could lead to you making a tidy profit in the future.

For home owners that are facing the prospect of foreclosure and do not know where to turn, please remember that there are organizations that can help you prevent foreclosure. If you are in this situation please visit www.hud.gov/foreclosure/index.cfm and click on the 'Contact a HUD-approved Housing Counseling Agency', for help.

Sources: Mitchell, Lesley (2008) Utah Real Estate: The Word ' Foreclosure' can Conjure Unpleasant Images, but for the Right Buyer, they are Terrific Bargains;available online at http://www.sltrib.com

Image Source:  www.sltrib.com

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By Jeff Adolph

Foreclosure and Investment

Salt Lake City - Utah, one of GayRealEstate USA's gayest zip-codes has many homes along the Wasatch Front - in varying price ranges - that have been foreclosed. From the budget buy to the multimillion dollar mansion, Salt Lake Valley has a plethora of homes on offer for the discerning buyer.

The tale in this region is not unusual - many buyers purchased their dream home using exotic mortgages and loose lending standards, and enjoyed the benefits appreciation provided. However, when this boom stood still, and prices began to recoil, banks were then forced to tighten their lending criteria as unpaid loans brought about the nation's credit crisis. This in turn then saw home prices along the Wasatch Front drop, and those expensive homes became unaffordable for many who could not meet these new loan standards.

As Randall Wall, a local Realtor said,"If the market would have just kept going up, theses people would have done great."

Utah ranks tenth in the nation for foreclosure, and RealtyTrac, a national real estate tracking service said that 1 in 600 homes in this region are behind in loan repayments.

While it is heartbreaking for those who are foreclosing, and many of us feel for them, it is also worth noting that bank owned homes offer an opportunity for home buyers and investors to grab a bargain. For example -a home that owes the bank $900,000 may sell for up to $150,000 less, and homes that are priced in the mid-to-high $100,000's may sell for $50,000 less.

Wall, who also invests in real estate, said that banks are often open to negotiation and will accept offers in most cases. Simply put, if a bank accepts your offer, you're the winner, because you saved a considerable amount and this could lead to you making a tidy profit in the future.

For home owners that are facing the prospect of foreclosure and do not know where to turn, please remember that there are organizations that can help you prevent foreclosure. If you are in this situation please visit www.hud.gov/foreclosure/index.cfm and click on the 'Contact a HUD-approved Housing Counseling Agency', for help.

Sources: Mitchell, Lesley (2008) Utah Real Estate: The Word ' Foreclosure' can Conjure Unpleasant Images, but for the Right Buyer, they are Terrific Bargains;available online at http://www.sltrib.com

Image Source:  www.sltrib.com

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Image Source:  www.sltrib.com

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Around the Nation -- Residential Real Estate Update - Utah

By Jeff Adolph

State-by-state

Situated in Western region of the U.S.A, this state is ranked as the 13th largest by land mass and the 34th by population with 2,233,169 people residing in this region.

This states economy relies heavily on tourism, cattle ranching, salt production, government services, mining and information technology.

Income tax in this state ranges between 2.3-6.98%, and there is a 4.65% sales tax. Property tax in this state is assessed and collected locally based on 100% of fair market value.

Salt Lake City

Homes are typically sitting on the market for 90-120 days in this region with the median home price hovering around $275,000. The market trend in this area is said to be decreasing with the market value down 5-10% compared to last year

Buyers are getting 95-100% of their asking price and the hottest valued market in this region is represented by first time buyers. 

LGBT Real Estate Facts: There are approximately 3,370 same-sex couples residing in Utah making this region the 39th gayest state in America. The gayest zip codes in this locality are 80145 Liberty Park, Salt Lake City; 84103 The Avenues, Salt Lake City; 84106 Salt Lake Valley/ Sugar House, Salt Lake City; 84118 Kearns, Salt Lake City; 84119 Taylorsville/ West Valley, Salt Lake City. -- gaydemographics.com

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

Picture Source: wikipedia.org

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New Appointed Mayor Rattles Conservative Utah

By Jeff Adolph

LGBT Politics

Newly appointed mayor of Salt Lake City, Ralph Becker, has fulfilled a priority campaign promise by introducing a citywide registry for domestic partners, including LGBT couples.

Becker's proposed ordinance rattles political foundations in conservative Utah, which rewrote its constitution in 2004 in order to ban gay marriage.

'I have great empathy for that kind of thing,' said Sen Chris Buttars, R-West Jordan. 'I have no problem with people sharing insurance or their wills, estates, real estate or lives. I just have to be certain we're not coming in the back door of Amendment 3 [ban on gay marriage and civil unions].

However, Council Chairwoman Jill Remington Love has already noted that Becker along with city attorneys has carefully crafted the domestic registry ordinance so it adheres to the gay-marriage ban.

The new registry will allow LGBT couples to share real estate assets that they have accumulated togehter and entitle them to be recognized as legal partners eventhough they are unable to legally marry.   

Source: Jensen, D (2008) Becker's First Step: Domestic Partners; available online at www.sltrib.com

Image Source: www.sltrib.com and www.commons.wikipedia.org

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Source: Jensen, D (2008) Becker's First Step: Domestic Partners; available online at www.sltrib.com

Image Source: www.sltrib.com and www.commons.wikipedia.org

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Salt Lake City's Emerging Gayborhoods

By Jeff Adolph

Gayborhoods

In the West of Capitol Hill, Marmalade has 'elipsed the Avenues to become the capital's gayest area.

LGBT communities can also be found in the South of Salt Lake and West Valley City.

In Salt Lake City, a gayborhood simply means an area with a higher gay and lesbian population, as opposed to the bigger city gayborhoods that center on a business district with gay bars and nightclubs.

However, this does not mean a gayborhood is an exclusive area, restricted to its own kind. In fact, this could not be farther from the truth. Having witnessed  segregation for many years the LGBT communities welcomes all with open arms.

As Marina Gomberg, Director of membership and Outreach at the Utah Pride Center, located in marmalade said, 'We've worked so hard to feel like we belong, we wouldn't want anyone else to feel that feeling of not having anywhere to go. The LGBT community embraces diversity as do many other communities.'

According to figures released by the Williams Institute at the University of California at Los Angeles, Utah's same-sex couples per capita household have risen from 38th in the nation to 14th.  

Source: Winters, Rosemary (2007) Gayborhoods gaining Buzz in SLC; available online at http://origin.sltrib.com/ci-7439427

Image Source: www.answers.com and www.utahpride.org

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Have Your Say On the LGBT Political Front - August 19th 2007

By Jeff Adolph

LGBT Politics

In a national first, the Democrats are challenging the Republicans by staging a debate that is dedicated to the LGBT community and will answer many of the issues facing Lesbians, Gays, Bi-sexual's and the Transgendered across the nation.

The leading candidates for the Democratic  nomination for presidency will actively involve themselves in this debate on August the 9th, which is being telecast by LOGO, a gay cable network. Alternatively, you may view proceedings on http://www.logoonline.com/ if you are unable to access the network.

Participants in the debate will include Hilary Clinton, Barack Obama and John Edwards (pictured above), with the moderators being singer Melissa Etheridge and Joe Solmonese, Human Rights Campaign's president.

If you would like to actively participate by lodging questions for the candidates to answer you may do so by logging on to LOGOonline.com as well as on HRC.org.

Source: Demorcrats to Hold Gay Debate (2007) available online at www.wweek.com

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'Gay Pages' Business Directory Meets with Malice

By Jeff Adolph

LGBT Business

Gay Pages phone books listing gay-owned or gay-friendly businesses have begun appearing near the front doors of homes in Salt Lake City. And, it seems this is not the only American city to witness such a phenomenon, Los Angeles and Las Vegas have also been privy to such ingenuity in the past.

Sean Wright, a Utah entrepreneur was driven by the homophobic to develop such a phone book because he was tired of seeing discrimination like that of Larry H. Miller's banning of 'Brokeback Mountain'.

As Wright said, 'It's really a different bubble here in Utah. I was shocked.'

Wright confirmed this attitude when trying to sell space in the Gay Pages last year and discovered not only rejection but also hostility.

In fact, Wright received death threats, verbal abuse and religious sentiments. One charming real estate agent even said, 'all you fagots should burn in hell.'

The irony being Wright is straight, and like so many other heterosexuals nationwide is appalled by such behavior.

'I believe the gay community has the right to be treated as equals', Wright added when asked why he endured such wraith.

Wright has over 120 businesses listed in this edition and despite adversity intends to publish future editions in 2008 and beyond.

For further information on the Gay Pages please send an e-mail to theslcgaypages@mac.com or you can phone 801-277-7160

As Wright said, 'I want everybody to just get along. And, the way you do that is by brining the unknown out of the closet.'

Source: Griggs, B (2007) Culture Vulture: 'Gay Pages' Address the Business of Tolerence; available online at http://www.sltrib.com/ci_5951623

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By Jeff Adolph

LGBT Business

Gay Pages phone books listing gay-owned or gay-friendly businesses have begun appearing near the front doors of homes in Salt Lake City. And, it seems this is not the only American city to witness such a phenomenon, Los Angeles and Las Vegas have also been privy to such ingenuity in the past.

Sean Wright, a Utah entrepreneur was driven by the homophobic to develop such a phone book because he was tired of seeing discrimination like that of Larry H. Miller's banning of 'Brokeback Mountain'.

As Wright said, 'It's really a different bubble here in Utah. I was shocked.'

Wright confirmed this attitude when trying to sell space in the Gay Pages last year and discovered not only rejection but also hostility.

In fact, Wright received death threats, verbal abuse and religious sentiments. One charming real estate agent even said, 'all you fagots should burn in hell.'

The irony being Wright is straight, and like so many other heterosexuals nationwide is appalled by such behavior.

'I believe the gay community has the right to be treated as equals', Wright added when asked why he endured such wraith.

Wright has over 120 businesses listed in this edition and despite adversity intends to publish future editions in 2008 and beyond.

For further information on the Gay Pages please send an e-mail to theslcgaypages@mac.com or you can phone 801-277-7160

As Wright said, 'I want everybody to just get along. And, the way you do that is by brining the unknown out of the closet.'

Source: Griggs, B (2007) Culture Vulture: 'Gay Pages' Address the Business of Tolerence; available online at http://www.sltrib.com/ci_5951623

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By Jeff Adolph

LGBT Business

Gay Pages phone books listing gay-owned or gay-friendly businesses have begun appearing near the front doors of homes in Salt Lake City. And, it seems this is not the only American city to witness such a phenomenon, Los Angeles and Las Vegas have also been privy to such ingenuity in the past.

Sean Wright, a Utah entrepreneur was driven by the homophobic to develop such a phone book because he was tired of seeing discrimination like that of Larry H. Miller's banning of 'Brokeback Mountain'.

As Wright said, 'It's really a different bubble here in Utah. I was shocked.'

Wright confirmed this attitude when trying to sell space in the Gay Pages last year and discovered not only rejection but also hostility.

In fact, Wright received death threats, verbal abuse and religious sentiments. One charming real estate agent even said, 'all you fagots should burn in hell.'

The irony being Wright is straight, and like so many other heterosexuals nationwide is appalled by such behavior.

'I believe the gay community has the right to be treated as equals', Wright added when asked why he endured such wraith.

Wright has over 120 businesses listed in this edition and despite adversity intends to publish future editions in 2008 and beyond.

For further information on the Gay Pages please send an e-mail to theslcgaypages@mac.com or you can phone 801-277-7160

As Wright said, 'I want everybody to just get along. And, the way you do that is by brining the unknown out of the closet.'

Source: Griggs, B (2007) Culture Vulture: 'Gay Pages' Address the Business of Tolerence; available online at http://www.sltrib.com/ci_5951623

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Gay Pride and Politics, Mixing May Be a Hopeful Sign

By Jeff Adolph

Gay Politics

Politian's just may be letting their hair down and offering support to the gay community in a very public display, an action that can only be for the greater benefit of all.

Christine Johnson, a Real Estate agent running for office in the 25th. District was one of several campaigners who joined in the recent Gay Pride Parade in Salt Lake City. Several candidates mingled with the floats, community representatives and the flamboyant, showing their support, interest and determination for change.

Christine stated, 'that she was out to show voters that gay community issues are also their issues.' Which is a little confusing, because apart from sexual orientation we are all very much the same, and what Christine was saying pointed to dissolving the discriminative barriers between hetero and homosexuals, and for voters to affiliate with the gay community. Kudos to you Christine and fellow participants, the more actively campaigned the less discrimination.

As Scott McCoy, State Senator said, 'candidates realize that the LGBT community is politically active and politically engaged'... and added, 'that it shows the growing clout of Utah's lesbian, gay, bisexual and transgender community.'

Christine added, ' I can be gay, but my constituents care about the fact that I'm for everything that we're all for because there are certain things that are non-gender specific, like health care, clean air, and quality education.'

Which is the undoubted truth, and as Jane Marquardt of Equality Utah said, 'the politicians turnout shows me that people are listening to the LGBT community...as political leaders meet articulate citizens who want to talk about various issues, who also say I'm gay...that will start to change opinions.'

That it will Jane, but it has been a long time in the making, since the Stonewall riots I believe, and it will certainly be even longer before laws and legislations are completely altered so that gay couples across the nation can enjoy the same benefits, recognition and respect that their heterosexual counterparts do. Especially in relation to RealEstate, which I am sure Christine is all too well aware of. However, any change is good change when it shows unity without segregation and a want to understand others views in a positively charged atmosphere.

Source: Out in Salt Lake City (2006) available online at www.outinsaltlakecity.com

© 2006 Jeff Adolph GayRealEstate USA