Just a quick note to let you know that the Utah Governor recently announced they will use $8 million in federal stimulus funds to reintroduce the Home Run Grant.

The official statement said that the state will offer $4,000 grants to the first 2,000 new home buyers.

The program comes on the heels of one started by former Gov. Jon Huntsman, who used $10 million in stimulus funds offer $6,000 grants. These grants were used in less than 12 weeks, so if you are interested in taking advantage of this offer you had better hurry.

There is one major difference between the original grant and this one (apart from the amount). The original grant could only be issued for homes that were ready for occupancy, while the new one can issued for homes which have been contracted for construction, or partially finished and contracted for completion. This changes the focus of the grant from getting rid of new home inventory to building new homes.

I have updated our Salt Lake new homes map to incorporate the latest developments and pricing information. This interactive map uses Google Maps functionality to show the location and prices for the major new home builders and developments in Salt Lake County, Davis County, and Utah County. New home prices across the Salt Lake Valley are coming under pressure from the slowdown in the local housing market. Very few builders/developments have increased their prices, with most builders keeping their prices the same or lowering them slightly. Ivory Homes seems to have cut their prices the most, with the majority of developments showing substantial price declines.