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  • 2010 May Prove to be the Hardest Year Yet for Foreclosures

    Lenders are repossessing over half a million homes across the nation, yet Utah remains relatively stable despite the calcuated predictions.

    In August of 2008, the University of Utah Bureau of Economic and Business Research released a report projecting Utah foreclosures would likely set a record high in 2009.

  • Daybreak's Model Home Preview Presents the Future of Daybreak Home Plans

    Over the weekend of June 26, a new Brookside model home gallery was premiered at Kennecott Land's Daybreak Development.

    The homes presented the future of Daybreak home plans, with ENERGY STAR rated homes scoring as low as the 60s, in terms of the Home Energy Rating System (HERS) Index.

  • Local Realtor Receives REALTOR Magazine's National "30 Under 30" Award

    Spring Bengtzen, broker and co-founder of Spring Creek Realty Group, has been nationally recognized by REALTOR Magazine for a "30 Under 30" award in the June 2010 issue.

  • Job Growth is Key to a Broader Housing Recovery

    Joint Center for Housing Studies

    Graduate School of Design, Harvard Kennedy School, Harvard University

    Home sales and housing starts staged an uneven comback starting in early 2009, according to the State of the Nation's Housing report released yesterday by the Joint Center for Housing Studies of Harvard University.

  • Salt Lake County Existing Home and Condo Sales Rise

    By Ken Holman

    Overland Group, Inc.

     

    Salt Lake County existing home and condominium sales rose by 30 percent this April, compared to sales from April of 2009.

    There were 1,128 homes and condos sold in April, compared to 867 sold last April. Home and condo sales in April were the strongest on record since April 2007, when 1,400 residential properties were sold, according to the Salt Lake Board of Realtors.

  • Homeowners Facing Foreclosure Have Little Hope

    More than 22,000 Utah homeowners facing foreclosure, according to the Salt Lake Tribune's analysis of RealtyTrac data.

    Since July 2008, more than 18,000 families across the state have received default notices, 4,720 of those were filed during 2010.

  • Lindon approves subdivision of property

    The Lindon City Council approved the subdivision of the Pear Tree development located at 100 West and 600 North in Lindon. The land will be divided into eight lots that will be sold individually. Each lot will be approximately .50 acres. Sherl Tomlinson of Huggard Estates is the developer.

  • Harmony Place conceptual plan approved

    The Layton Planning Commission approved the conceptual plan and rezone development agreement for Harmony Place. The residential development will consist of 117 lots with single-family, patio-style homes. A park and a school will eventually be built in the development. Jeff Martineau is the developer on the project. The Layton City Council is scheduled to give final approval later this month.

  • Home Sales Soar in Last Year's 4th Quarter

    Sales of existing single-family homes in Salt Lake County surged in last year’s fourth quarter, ending a three-year decline in falling home sales, according to the Salt Lake Board of Realtors’ Housing Market Report.

    Overall, more than 2,400 single-family homes were sold in the fourth quarter, a 36 percent increase compared to 1,785 sales in the same quarter in 2008. Home sales also showed a 19 percent gain in the month of December compared to the same month a year earlier.

  • 124-lot subdivision approved in Heber

    The Wasatch County Planning Commission gave preliminary approval for a 124-lot subdivision in Heber. The proposed development would be for single family homes and would be built on 133.32 acres, making the lots 1 acre or larger. The area is zoned residential agricultural and is located at approximately 2400 South and 2400 East in Heber.

  • Washington County's Residential Market Looking at Slow Recovery

    By Ken Holman

    Overland Group President

    Vardell Curtis, CEO for the Washington County Board of Realtors and Scott Gibson, owner of a local mortgage brokerage firm, presented the outlook for residential real estate at the 13th Annual Washington County Economic Summit held in St. George at the Dixie Center on Wednesday, Jan. 13.

  • Wolf Creek Utah Sees Surge in Second Home Sales

    Eden, Utah – As affordability continues to be restored to Utah’s housing market, Wolf Creek Resort Properties, the onsite real estate entity for Wolf Creek Utah in Ogden Valley, reports a 40 percent rise in sales within the resort from 2008 to 2009, mainly in the condominium and single family home categories. Not surprisingly, 40 percent of last year’s buyers were Utah residents.

  • Vineyard City Council to review Sunset Villa

    The Vineyard Planning Commission reviewed and recommended the approval of Sunset Villa. A new planned development overlay district would have to be approved in order for the residential project to move forward. If approved, 186 single-family, detached homes would be built on 23.5 acres located at the northwest corner of Vineyard Road and Center Street. Developers and land owners Ryan Anderson and Gerald Anderson hope to get building permits in time to start construction in March. The city council will review the proposal on Jan. 27.

  • Salt Lake Board of Realtors Releases 2010 Housing Forecast

    The Salt Lake Board of Realtors released its 2010 Housing Forecast. After two very difficult years, existing home sales in Salt Lake County are poised for a rebound.

    The past housing downturn ranks No. 2 in terms of its severity, according to the report. Beginning in 1977 Salt Lake County experienced a housing downturn that lasted four years, with home sales falling 55 percent.

  • Developer addresses Highland residents' frustration

    HIGHLAND (Daily Herald) -- Days ahead of a legal appeal, Highland residents packed a hearing on Saturday morning to voice their frustrations and concerns about a high-density housing subdivision.

    In December, planning commissioners gave approval to a 160-unit subdivision of 3-story townhouses, to the surprise of at least some elected officials. Commissioners hadn't wanted to give approval, but were told by city staff they had no choice.

  • Spanish Fork approves subdivision despite flooding protests

    SPANISH FORK (Deseret News) — The City Council approved a 99-home development near state Route 51 on Tuesday night despite protests from neighbors across the highway who say new construction is causing flooding in the area.

    In addition to approving Steve Maddox's residential development, Bella Vista, the council waived the minimum lot-size requirement. It also asked city engineer Richard Heap to look into neighbors' claims of flooding.

  • Park City, Boyer partners in housing project

    (Deseret News) Park City has agreed to be full partners with The Boyer Co. in a planned housing development on the city's eastern border.

    By unanimous vote last week, the City Council decided to spend $5.5 million to buy land in the 200-acre project.

    If built, the new neighborhood will be across the street from a shiny new Intermountain Healthcare hospital at the intersection of state Route 40 and S.R. 248.

  • Provo gives green light to 346-acre development

    (The Enterprise) The annexation of 346 acres into Provo was approved by the municipal council. Gardiner and Associates plans to build 1,157 residential units on the mixed development site, located west of Geneva Road between 1300 North and 2000 North. Construction will not begin on the Villages at Celebration for at least another 18 months. The developer is still finalizing engineering and infrastructure specifics. The project is scheduled to be built in 11 phases. The sizes of the dwellings will range from modest townhomes to larger homes.

  • New homebuilding firm to construct on foreclosed property

    (The Enterprise) Candlelight Homes, a new home-building company formed by the principals of South Jordan DAI, is focusing its efforts on developing communities on foreclosed land acquired from local banks. Candlelight is working on Stillwater at Saratoga in Saratoga Springs and Valentine Estates in Woods Cross. Stillwater will have 237 home sites. Prices will start in the $190s. Valentine will have 93 sites for homes and 182 townhomes, with prices starting in the $170s.

  • Foreclosure records posted in Provo-Orem, SLC

    (The Enterprise) According to RealtyTrac, Provo-Orem and Salt Lake City had two of the three largest increases in home foreclosures during the third quarter. Increased unemployment and ARM mortgage resets have shifted foreclosure rates into areas that had not been hit earlier. Provo-Orem’s foreclosure rate is up 10.87 percent, and Salt Lake City is up 28.52 percent. There are currently 4,231 properties in foreclosure in the Salt Lake City market.

  • Genola fails to pay project manager for cemetery, lot development

    GENOLA, Utah County (Deseret News) — The project manager of a two-year effort to develop nine residential lots and create the town's first cemetery must take further action if he expects to get paid.

    Dale Draper submitted a bill for more than $18,850, but a wrangling town council failed to approve it. Councilman Michael Vail said the work was complete and Draper should be paid, but no one would second his motion. The contract included roads, tearing down an old barn and building bridges.

  • Green homes sprout all over Utah

     (Salt Lake Tribune) Energy-efficient homes are catching on nationwide, and the U.S. Environmental Protection Agency announced this week the trend is strong in Utah.

    The federal agency said more than a million American homes are Energy Star-qualified -- 14,770 of them in Utah.

  • Nexia signs three letters of intent to acquire residential properties in Ogden

    SALT LAKE CITY--(Marketwire) - Nexia Holdings, Inc. reported that it has signed three letters of intent to acquire three residential properties located in the Ogden, Utah area. The purchase prices for the properties are as follows: $95,000, $125,000, and $170,000; the first two are single family residences and the last property is a triplex. Total compensation in the form of 92,800 restricted shares of Series C Preferred Stock of Nexia would be issued to the sellers upon the closing of the final purchase of the properties according to the terms of the letters of intent.

  • Residents seek help from Bluffdale as developers go bankrupt

    (South Valley Journal) A house is not a home for certain Bluffdale residents who bought property from developers that are now struggling to stay in business.

    Since the economic downturn, several planned subdivision projects have stalled due to funding issues, making it difficult for people who have already bought property to build their homes and move in.

  • Five-lot subdivision planned for 395 acres in Kamas

    Developer Brett Hollberg of LRH Properties Inc. is planning to develop 395 acres in Kamas. Hollberg hopes to build a five-lot subdivision in the area, with each lot on six acres. The remaining land would be designated as open, agricultural space.The subdivision, called Cove at Cherry Canyon, would be east of Wanship.

  • Surplus of Vacant Lots will Prolong Builders' Pains

     

  • Senators agree to extend homebuyer tax credit

    WASHINGTON (MSNBC) - Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.

    The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.

    Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.

  • Affordable housing succeeding in Centerville

    Centerville (Salt Lake Tribune) » Doris Donat found herself divorced and out of her home. She wanted a place of her own but didn't know what she could afford.

    Then she found Pineae Gardens in Centerville and a condo in her price range.

    "I couldn't rent a place as beautiful as I'm in now," said Donat.

    The occasion for Donat's remarks was a checkup on the affordable-housing project by Henry Cisneros, the former mayor of San Antonio and secretary of Housing and Urban Development under President Clinton.

  • Utah prices for homes sink while sales climb

    (Deseret News) If you're listing your house in Utah County, be ready to slash your price.

    According to data released Tuesday by the Utah Association of Realtors and the Salt Lake Board of Realtors, the Utah County housing market was brisker in the third quarter of 2009 — up 14.17 percent in number of units sold compared with the same time a year ago.

    But the average price dropped from $229,900 in the third quarter of 2008 to $215,000 in the third quarter of 2009.

  • Salt Lake County adopts 'monster home' rules

    (Deseret News) A nearly three-year long struggle to craft regulations to curb the construction of "monster homes" in Millcreek Township came to a close as the Salt Lake County Council approved new zoning rules for the east-side community.

    The council's 5-4 decision Tuesday followed party lines on the Democratic-controlled board, with freshman Councilwoman Jani Iwamoto taking a lead position as the representative for Millcreek residents.

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