Will Real Estate Prices Increase due to New Mormon Temple in Payson, Utah?

A New Temple for the Church of Jesus Christ of Latter-day Saints to be built in Payson, Utah.

This announcement came January 26, 2010.  The new temple will help meet the needs of a growing Church membership in the area and will ease the heavy use of the Provo temple, which is one of the busiest in the Church. The Payson temple will bring to 15 the number of operating and announced temples in Utah.

The property for the Payson temple is located on gently sloping ground at approximately 930 West and 1550 South on the southwest side of Payson, a mile from the 800 South I-15 interchange.  The property offers scenic views of the area as well as easy access to the freeway.   The new temple will serve approximately 22 stakes from Spanish Fork to Nephi comprising approximately 78,000 Church members. Temple-going members have been driving to Provo or Manti for temple services.  





Artists’ renderings, the size of the temple, groundbreaking dates and other information will be released as they become available.  I am including a picture on my blog of the American Fork temple.  I think the temple will look something like this. 

My phone is ringing with buyers and seller looking to buy or sell a home in Payson, Utah

They all have the same question.  Will property values increase in Payson, Utah?  In my opinion the property values right next door to the temple will experience an increase of perhaps 30%.  The properties within a block or two of the temple may experience an increase of about 10% in values.  However, homes farther than half a mile will not really feel any appreciation.  If you agree or disagree with me feel free to tell me in this blog. 

Payson, Utah has 155 homes for sale this morning on the MLS.  It has an additional 24 homes under contract.  It will be interesting to monitor this number daily and see how it changes.  This news is great for our Utah County economy.  It will actually put Payson, Utah on the map. 

I sold a couple a home in Payson, Utah (click link to see a picture of the home) just before they left to their mission to the Philippines.  She heard the news and sent this email.  It kinda grabs the excitement I have been hearing all day.  Notice her comment about land values.  

" . . . This Temple is going to be almost literally in our back yard in Payson, Utah!  I can’t believe it! I almost jumped into the computer!! I was feeling so bummed because when we finally got a temple in the Gila valley we moved—but Now I will have one in my back yard there!  I am so excited!!  Wow!  We picked a great time to buy because land will go up because of the temple!  This is awesome news!!!!!  Check it out—it probably won’t be finished before we get home.  It is going to be right close to the Wal Mart there and we live about 1 mile from it."

It is great to see the enthusiasm about the new temple location.  Temples answer those soul-searching questions of the purpose of life, of why we are here and where we are going.  They are sanctuaries from the storms of life and bless the lives of members of the Church who worship within their sacred walls,” said President Monson.

Latter-day Saint temples provide a place where Church members make promises and commitments to God and where the highest sacraments of the faith occur such as the marriage of couples for eternity. Temples differ from the tens of thousands of local meetinghouses where members typically meet for Sunday worship services and midweek social activities.

The Payson Utah temple will bring the total number of temples worldwide already in operation or in the planning and construction phases to 152. A letter was sent to local Church leaders today regarding the new temple.

If you are looking for a home, rental or land in Payson, Utah.  The best place tostart your home search is here.   Here is some more information about Payson, Utah: Info, Facts, Schools, SOLD data.   If you would like to view some properties in Payson, Utah give Team Teasdale Realty a call.


Welcome to my Utah County Real Estate blog!  We are located  in Mapleton, Utah.  Our team combines proven traditional real estate practices and represents the leading edge in the future of real estate marketing by merging internet technologies, service, communication, information and analysis with those traditional practices to provide our clients with an exceptional real estate experience and superior marketing.

Paul Teasdale, Principal Broker
ABR, CRS, e-PRO, QSC, Finance  BYU
15 Years Experience, 800+ Homes Sold
Team Teasdale Realty, Utah County Real Estate
Phone: 801-491-7653


 

 

What did you think of this article?




Trackbacks
  • No trackbacks exist for this post.
Comments
  • No comments exist for this post.
Leave a comment

Submitted comments are subject to moderation before being displayed.

 Enter the above security code (required)

 Name

 Email (will not be published)

 Website

Your comment is 0 characters limited to 3000 characters.