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Decline in Unemployment Needed to Boost Commercial Office Market

By Kelly Lux
Real Estate News Utah
 
Local real estate professionals gathered Tuesday morning to hear a review and forecast of the commercial market in Utah.
 
Various real estate professionals addressed the audience during the 2010 Utah Commercial Real Estate Symposium ‘Corralling Fundamentals: The Real Estate Drive for Solutions’ held in the Hilton Ballroom.

Alan Greenspan, Henry Paulson on the Economy

By Ken Holman
Overland Group

Meet the Press Moderator David Gregory met with former Federal Reserve Chairman Alan Greenspan and former Treasury Secretary Henry Paulson to discuss unemployment, housing, the economy and deficit spending.

On Friday, the New York Times had the headline, “Jobless Rate Falls to 9.7 percent, Giving Hope Worst Is Over.” Gregory asked Greenspan, “Does this jobs report signal a turnaround?”

UHC Takes Action on Legislative Issues

Real Estate News Utah
The Utah Housing Coalition will be watching several issues that relate to housing during the 2010 Utah Legislative General Session.
 
The preservation of manufactured homes communities through resident-owned communities, disclosure of properties contaminated by methamphetamine usage or manufacturing, protections for renters living in properties undergoing foreclosure and a constitutional amendment proposal to ban the creation of tax on the sale or transfer of real property are all issues that will be on the watch-l

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.

Utah Apartment News: Best Yet to Come

By James Wadsworth & Greg Barratt

Hendricks & Partners

Rental Market

Bank of Utah Shows Financials Remain Strong

OGDEN  – In spite of the challenges that 2009 brought for the financial sector and the business world in general, BOU Bancorp, Inc., the holding company for Bank of Utah, finished the year with good results. A newly-published 2009 Earnings and Results Report showed the locally- owned and operated community bank reported a 2009 net income of $9.3 million with a return on average assets (ROA) of 1.3% or .9% (when adjusted for Sub S status) and return on average equity (ROE) of 12.5 % or 8.8% (when adjusted for Sub S status).

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.

Dismal Outlook in Washington County's Commercial Real Estate Market

By Ken Holman

Overland Group President

Jeremy Dickamore and Travis Perry, both from Commerce Real Estate Solutions, and Stan Perkins of Tonaquint Properties each gave their perspective on the condition of the commercial real estate market in Washington County, along with moderators Craig and Stan Morley of the appraisal firm, Morley & McConkie, at the 13th Annual Washington County Economic Summit held on Wednesday, Jan. 13, at the Dixie Center in St. George.

Herbert: Recovery Lies in Job Creation

By Ken Holman

Overland Group President

 

ST. GEORGE -- Utah Gov. Gary Herbert, appointed 17th governor of Utah upon the resignation of former Utah Gov. Jon Huntsman, Jr., who was appointed by President Barack Obama as Ambassador to China, gave the keynote address at the 13th annual Washington County Summit entitled "What’s Up Down South."

 

In his address to more than 500 people, Herbert spoke of the economy, saying recovery is about jobs and job creation.

 

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