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  • (Utah Pulse) SilverLeaf announced today they will start a series of courses in mid September educating people how to evaluate, buy, and service residential and commercial real estate mortgage debt.

  • (Tooele Transcript Bulletin) Sean Hamilton has rented a home in Tooele for years. Recently, however, Hamilton and his wife, Dina, decided it was time to purchase a home for their family of five. They ended up paying $154,000 for a 2,600-square-foot, five-bedroom home that had been foreclosed on and was appraised a year ago at $184,000.

    “It is a wonderful home, in good condition, and with 2,600-square feet there is plenty of room for the family,” Sean said. “It took a while to get our offer approved by the bank, but it was worth it.”

  • (Tooele Transcript Bulletin) The county’s new $2 million convention center at Deseret Peak Complex will be finished on budget and on time for the Tooele County Fair opening next week.

    The approximately 20,000-square-foot center, which took about nine months to build, is expected to be used by local and out-of-town groups. County commissioners backed the project in the hopes it will be a moneymaker for Deseret Peak, which is heavily subsidized by the county.

  • (Tooele Transcript Bulletin) While residential building has ground to a standstill in many parts of the state, Stansbury Park remains one of Utah’s hot spots for new home construction.

    In fact, Stansbury was recently found to be the No. 4 market for new home sales in the greater Salt Lake City area by Metrostudy, a Texas-based housing market research firm. Between June 30, 2008, and June 30, 2009, 145 new homes sold in the community, according to Metrostudy.

  • (Salt Lake Tribune) Developers have snatched up three liquor licenses from Utah's dwindling supply so that alcohol can be served at a southern Utah luxury resort scheduled to open in October.

    The Amangiri Resort, nestled near the Utah-Arizona state line between a sandstone bluff and an ancient dune, offers panoramic views of desert vistas for well-heeled visitors. The spectacular location is why developers opted to ask for four Utah liquor permits; if it had been built in nearby Arizona, only one license would have been required.

  • Despite receiving millions of dollars in federal stimulus money, many public housing authorities across the nation are being forced to reduce their help to the country's poor.

    Original Article

  • What do 10 new Salt Lake City police officers, a pool of money for first-time homebuyers and a dozen interns at the Mestizo Coffeehouse have in common?

    They are signs that President Barack Obama's stimulus program is helping energize the economy, Utah Democrats said Thursday in attempting to counter conservatives' claims to the contrary.

  • LAYTON -- BioLife will soon be expanding into Davis County, bringing in a plasma donation center that will employ 30 to 40 workers, city officials said. BioLife Plasma Services has received conditional-use approval from the planning commission to build a center in the same area where a $10 million Hilton hotel project is planned to be built, city economic specialist Ben Hart said.
  • (Park Record) Park City's building industry finished the first six months of 2009 having posted 41.7 percent of the value of construction recorded through the same period the year before, City Hall's Building Department reports.

    According to the Building Department, $45.6 million worth of construction had been permitted through the end of June. At the same time last year, the figure was $109.3 million. The industry enjoyed a fast start to 2009, buoyed by a permit at the Montage in Empire Pass, but the numbers have fallen off dramatically in recent months.

  • The foreclosure crisis has entered a new phase. It's spreading beyond the wreckage of the housing bubble to metro areas in Oregon, Idaho, Utah, Arkansas, Illinois, and South Carolina where unemployment is rising, according to RealtyTrac’s Midyear 2009 Metropolitan Foreclosure Market Report released this morning.

  • The Provo-Orem area is ranked No. 31 in foreclosure-related filings among more than 200 areas nationwide, a new report shows. The Utah County community is the highest-ranked Utah metro area on the list, with 3,168 properties -- approximately 2.

    Original Article

  • A Draper developer whose plans to build an assisted-living facility for seniors was denied earlier this year is suing the city for violating the Federal Fair Housing Act.

    Original Article

  • FARMINGTON -- About 118 Layton and Clearfield property owners will receive new property valuation notices within the next week. The reason: A computer glitch erroneously valued properties too high, county officials said.

  • OGDEN -- A secret donor will today reimburse the city $62,949 already spent on engineering and design work for a controversial ice-climbing tower, says a municipal official. The donor had originally planned to provide money by the end of the month but has instead agreed to give the funds early, John Patterson, the city's chief administrative officer, said Tuesday.

  • CLEARFIELD (Deseret News) — Davis County is another step closer to building a new health department building in Clearfield.

    Tuesday night, the Clearfield City Council voted to sell 4 acres of land located about 22 S. Depot Street — across from Clearfield City Hall — where the $9 million, 45,000 square-foot building is planned for construction.

    Tuesday's vote means it's now the Davis County Commission's turn to consider the purchase agreement for the five parcels of land, the sale price of which will be disclosed later.

  • (Deseret News) The 44-year-old Cottonwood Hospital building is demolished in Murray on Tuesday to make way for the expanded TOSH (The Orthopedic Specialty Hospital). Cottonwood Hospital closed in 2007 when the Intermountain Medical Center opened less than a mile away. Intermountain Healthcare spokesman Jess Gomez said part of the space being cleared on the former hospital site will become sports training fields and other landscaping as a part of TOSH campus.

  • (Salt Lake Tribune) Denver-based Smashburger is set to open two Utah restaurants in August; one at 3513 S. 2700 West in West Valley City and the other at 2100 S. 1028 East in Salt Lake City.

  • (Salt Lake Tribune) Associated Foods Stores is poised to overtake Smith's Food & Drug and Wal-Mart to become the state's No. 1 grocery chain by number of stores with its purchase of 36 Albertsons supermarkets in Utah announced Tuesday.

    Officials said the sale by Supervalu Inc., Albertsons' parent company, is expected to close this fall pending regulatory approval. Under terms of the deal, Supervalu would receive $150 million in after-tax proceeds to help pay down debts incurred from its 2006 purchase of Albertsons.

  • Two years into the Wasatch Front's real estate downturn, the home-sale market is showing some signs of improvement. In the market for homes listed at $250,000 and below, some sellers have been entertaining multiple offers.

    Original Article

  • Nine months after she halted its sale, 3rd District Judge Denise Lindberg will again consider a proposal to sell a farm that has become a battlefield for a controversial polygamous sect, a court-appointed fiduciary and attorneys general in two states.

    Original Article

  • SALT LAKE CITY -- SilverLeaf Financial LLC announced today it will sell the 321 single-family mortgages that it acquired last week. These 1st position trust deed notes are located primarily in Indiana and Ohio, with values ranging from $60,000 - $100,000. Interested investors can now buy one note, multiple notes or the entire 321-note portfolio directly from SilverLeaf. Loans start at 20 cents on the unpaid principal balance. All of the notes are "non-performing" mortgages, meaning they are late on their payments, but have not been foreclosed on.

  • SALT LAKE CITY-- Nexia Holdings, Inc. announced today that its subsidiary Kearns Development Corporation signed a Real Estate Purchase Contract for the sale of the office building located on Sam's Boulevard in Salt Lake City, Utah. The agreement for the sale of the property provides for a purchase price of $700,000, with an earnest money deposit of $7,000.

    The contract provides for deadlines that would lead to closing of the sale on or before August 31, 2009.

  • Freeport West, which develops, leases and manages industrial properties and warehouse distribution centers, has purchased two rail-served buildings in Centennial Park and two buildings at the Salt Lake Industrial Center, adding 660,960 square feet to its portfolio. NED Properties LLC, consisting of Kern Schumacher, Hollye Schumacher, Rhonda Nicoloff and Bill Nocoloff, purchased the property. Rad Dye and Tom Dischmann of CBRE were the brokers in the transactions. The new buildings will allow Freeport West to accommodate smaller tenants.

  • Equity Real Estate of Midvale is expanding its residential real estate brokerage to Arizona, Colorado, Idaho, Nevada and Washington. Brady Long founded the firm in 2001. Now it has grown into the 47th largest brokerage in the nation with 961 agents, according to the National Association of Realtors. Long plans to add more than 100 agents to each expansion state by the end of the year. Equity currently has offices in Logan, Clearfield, Midvale and St. George, with a Bountiful location planned to open this summer.
  • (South Salt Lake) Residents are being encouraged to increase their property values and beautify the city by planting trees.

    “The city will reimburse homeowners the lesser of $50 or 50 percent of the cost of the trees [for] up to two trees,” said South Salt Lake City Finance Department Supervisor Lisa Park. “The trees just have to be selected from the approved list that we have on our website or they can come and get a list of those from the finance department in City Hall.”

  • (South Salt Lake Journal) The city is currently cooperating with the Utah Department of Transportation to make way for road reconstruction near 2400 South and State Street by helping to purchase two homes that will be demolished.

    Currently, 2400 South connects with the westbound I-80 off-ramp at State Street. City officials said the intersection is a traffic hazard that needed to be redesigned. Residents living in the area near the intersection have also expressed interest in having some kind of buffer between the neighborhood streets and the interstate traffic.

  • (Sandy Journal) Mayor Tom Dolan has announced a new development plan that he hopes will make Sandy a more desirable place to live and work.

    The entire project is broken down into four smaller projects in different areas of the city that he hopes will bring new businesses into Sandy and offer some competition with other shopping and entertainment centers along the Wasatch Front. Over the next four to five years, the mayor said he hopes that these new plans will be the defining projects for Sandy.

  • HYDE PARK (The Herald Journal) — A new development of upscale shops and multi-family housing could be coming to this community in northern Cache Valley. On Wednesday, the Hyde Park City Council heard a presentation from NAI Utah Commerical Real Estate about the company’s hopes to build a mixed-use project on 20 acres located near Hyde Park Lane and U.S. Highway 91.

  • SMITHFIELD (The Herald Journal) — Sitting in a new house on a couch surrounded by halfway unpacked boxes, Angela and Jason Krambule took a brief a break from cleaning their newly vacated apartment in Logan.

    But for these two — and 11 other couples who moved into brand new houses in western Smithfield over the weekend — it’s not such a new house to them. There are already hundreds of memories inside their walls.

  • SALT LAKE CITY (KSL) -- The company that owns Albertsons stores in Utah announced Tuesday it is selling the majority of its stores in the state to Associated Foods.

    Supervalu says the sale will include 36 stores, but will not include three St. George-area stores. Supervalu also is looking for a buyer for its two Albertsons stores in Orem and two stores in West Jordan.

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