Deseret.com

Is Utah’s housing market the hottest in the West

Real estate agents and market experts don’t see any end in sight for Utah’s and the nation’s housing boom — and they repeatedly say there’s no “bubble” similar to the 2007 market crash that led to the Great Recession. Leading up to the crash, Robison noted that the U.S. had overbuilt housing and there was a subprime mortgage

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URL: https://www.deseret.com/2021/5/13/22412416/utahs-place-in-the-west-raging-housing-market-salt-lake-city-rising-housing-prices-record-breaking

Larry H. Miller Group sees ‘intriguing’ opportunity with

(4 days ago) Larry H. Miller Real Estate — a subsidiary of the LHM Group of Companies — announced Monday the acquisition of Daybreak. One of Utah’s most prominent companies has struck a deal to acquire land tied to Salt Lake County’s largest planned mixed-use development and is expecting to help usher in an era when another 20,000 people move to the

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Why is Utah’s housing market so ‘insane

(4 days ago) The Deseret News took a deep dive into Utah’s raging hot real estate market and how it fits in to what’s happening in other Western states. With high rankings in numerous national lists analyzing the housing market, the Salt Lake City metro area is a contender for having the No. 1 housing market in the West, competing with other burgeoning

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Opinion: Utah housing is on the highway to San Francisco

(2 days ago) Zillow, the real estate marketing company, reports that the typical home in Park City now sells for $1,027,216. In San Francisco, it’s $1,419,714. The difference is that Park City’s home values shot up by 11.2% over the past year, while San Francisco’s fell by 3.2%. If COVID-19 illuminated anything, it was the dissatisfaction of Bay Area

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New lawsuit claims Utah Realtors part of 'conspiracy' to

(7 days ago) Rob Hahn, founder and managing partner of real estate consultancy firm 7DS Associates, wrote in a blog posting that the case "could be a nuclear bomb on the industry." While the National Association of Realtors spokesman's weigh-in on the suit predicted similar court findings, in favor of real estate brokers, as in past cases, Hahn warned this

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Utah real estate investor faces federal fraud charges for

(2 days ago) Smith, the owner of J&L Real Estate, raised $2.4 million from 50 investors from December 2016 through April 2018, according to court documents. He told them he was a real estate wholesaler who used earnest money to buy and then quickly resell property, allegedly promising investors up to 100 percent return on the money.

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St. George grappling with housing shortage as out-of

(9 days ago) Traffic moves along Bluff Street in St. George on Thursday, April 8, 2021. St. George traffic is heavy, and single-family housing, apartments and commercial real estate are hard to find due growth in the area. In one Utah city, there are just 200 homes for sale but 2,000 real estate agents as an exodus of out-of-staters and others who want to

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Some Farmington residents concerned over proposed

(2 days ago) Phil Holland, a partner with Utah-based real estate development firm Wright Development Group, said his company is doing its best to follow the general plan authored by the city and to take residents' concerns into consideration in developing the proposal for 30 acres of …

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LDS CHURCH REAL-ESTATE HOLDINGS INCLUDE FARMS, …

(5 days ago) The Mormon Church's real-estate empire easily exceeds $1 billion, including farms and ranches in the West and Midwest, buildings and apartments on the West Coast and a huge chunk of land in central Florida, The Arizona Republic reported Tuesday. Given its enormous income from tithing and business operations, it appears the church is investing several hundred million dollars a year in

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St. George man uses investment scam to steal from fellow

(2 days ago) Sampson met the couple, identified in court documents as J.S. and K.S., in 2012 when he was their real estate agent. They had $250,000 to invest after selling a home in Australia. Sampson told them he had invested funds for others in the past and could help them, according to court documents.

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Homie grabs No. 2 realty spot, adds buyer-side services

(6 days ago) SALT LAKE CITY — It's taken real estate tech company Homie less than 18-months to climb to the No. 2 spot in the state for residential real estate listings, offering a start-to-finish package for home sellers that dispenses with commissions in lieu of a flat fee, regardless of the property's value.. Now, the Draper-based company has launched a buyer-side package that rebates the standard 3

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Why $1 million-plus Utah cribs are selling like hotcakes

(4 days ago) Local real estate pros say out-of-state buyers are fueling record interest in Utah homes in the $1 million-plus price range. Why? Even with rising costs in the state, prices still look good for transplants coming from California, New York and other places with even hotter markets.

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Prowswood associates form new company

(9 days ago) A group of real estate executives formerly associated with the well-known Utah firm Prowswood Companies has formed a new company that will focus on developing low-income housing and affordable housing along with traditional multiple-family and office projects. Cowboy Partners Inc. has been spun off from Lend Lease, an international real estate

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Utah housing prices expected to continue rise to record

(5 days ago) The median sales price of a condominium/town house in Salt Lake County rose 10.6% in 2019 — the third straight year of double-digit increase, the report stated. Last year, the median sales price of those units was $275,000. The median sales price has climbed from $144,000 since 2012 — an average annual rate of increase of 9.7%.

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Salt Lake housing market bouncing back after COVID-19 cut

(6 days ago) Clever Real Estate, based in St. Louis, Missouri, recently reported that the U.S. housing market took a significant hit when COVID-19 cases began to surge across the country and related shutdowns derailed the economy. The company examined national housing market trends in relation to buyer demand and took a deep dive into how large metropolitan

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What Heber City, Utah, can teach us about the future of

(9 days ago) There hasn’t been a big slowdown,” Tracy Taylor, a real estate broker with Keller Williams Park City Real Estate in Wasatch and Summit counties and member of the Wasatch County Open Lands Board, said. In the last month, sales have actually been up compared to the previous year, Taylor said. “The Wasatch Front is still going crazy.

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Be wary of email scam targeting property transactions

(5 days ago) Utah consumer protection officials launched a campaign Monday to warn residents about a rapdily growing email scam that targets property transactions.

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Impact of COVID on Utah housing sector expected to be big

(9 days ago) “The performance of the residential real estate market in 2020 comes down to whether economic uncertainty offsets the advantage of low interest rates,” he said. “A share of both potential buyers and sellers will feel it’s to their advantage to wait six to 12 months before entering the market, while others will see the current market as

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GIMMICKS HELPING REALTORS MAKE SALE

(1 days ago) When it comes to selling real estate, realtor Phil Craig employs the oldest tricks of the trade. And the newest.

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Should you know what your neighbor paid for his house

(1 days ago) The rules vary from state to state, but in Utah when a home changes hands, only real-estate agents and lenders know the final price, along with the seller and buyer. That means local governments, national real-estate websites and gossipy neighbors don’t. The longstanding practice is an anomaly in a society where there are few secrets anymore.

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STARS' REALTOR DOWN AND OUT IN BEVERLY HILLS

(6 days ago) Elaine Young, real estate broker to the stars, cannot stop crying. After 36 years of peddling million-dollar estates, a salary that sometimes surpassed $700,000, six husbands and the deaths of two colleagues, Young has closed her agency."It's really hard to hold your head up when you've had one of the biggest real-estate offices in town and you wake up one day and it's gone," Young said

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Realtor boom: Number of Utah agents rises in a tough

(9 days ago) The number of real estate agents in Utah is rising, despite a downturn in the local housing market. The Salt Lake Board of Realtors reported that the number of agents and brokers on its membership rolls reached 7,871 members as of Dec. 31, up 4 percent from the previous year and the organization's highest year-end total ever.

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Salt Lake area housing prices expected to continue rising

(2 days ago) Speaking Friday before an audience of real estate professionals at the Salt Lake Board of Realtors' annual housing forecast event, Jim Wood, Ivory-Boyer Senior Fellow at the Kem C. Gardner Policy Institute, said housing prices in Salt Lake County have climbed 80 percent since 2005.

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Real estate firm to hire nearly 1,000 new employees by

(1 days ago) Real estate firm to hire nearly 1,000 new employees by year’s end. Johnny Hanna, CEO and co-founder of Homie, shows solar lights that come with Homie real estate signs at the company’s headquarters in Draper on June 7, 2017. The company said Wednesday it will be adding 1,000 agents.

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Former Goebbels property for sale in Berlin

(6 days ago) Bids are now being taken for the 70,000-square foot (6,440-square meter) plot on Schwanenwerder island, an exclusive area in western Berlin where Goebbels and his family lived from 1936 to 1943, spokeswoman Irina Daehne for the real estate agency selling the …

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Utah commercial real estate feeling the impact of the

(6 days ago) Utah commercial real estate feeling pandemic’s impact; some sectors faring better than others. Divvy’s headquarters, built by the Boyer Co., at 136 Center in Draper is pictured on Monday, May 4, 2020. SALT LAKE CITY — Commercial real estate, which is not immune to the economic challenges stemming from the new coronavirus, is seeing some

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The youngest Osmond: Still performing, producing

(Just Now) In 1987 he bought Osmond Real Estate, which he still owns. In 1990 he sold the studio — at a profit — but kept the adjoining land that he developed and sold off as building lots. In the early 1990s he bought two theaters in Branson, the little town in southern Missouri that had transformed itself into a kind of Las Vegas-lite.

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Amid COVID-19, Utah’s Mat and Savanna Shaw go viral for

(Just Now) “It’s real fancy,” Savanna Shaw said with a laugh. A little mic, propped up by a pair of pajama pants, plugs into an iPad. The Shaws practice and record themselves singing in this closet space, away from the daily chaos of home learning. Then, at the kitchen table, they film …

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Chicago firm buying Utah's JP Realty

(8 days ago) Two real estate investment trusts that own five malls in Utah are joining forces. Chicago-based General Growth Properties Inc., which owns the Newgate Mall in Ogden, will acquire Salt Lake-based JP Realty, which has four Utah malls, in a $1.1 billion deal, the companies said Monday.

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Land deal finalized to clean up, develop old Salt Lake

(8 days ago) A real estate arm of the LDS Church has donated to a state agency the site of the old Salt Lake City landfill — a 770-acre property in the city's northwest quadrant that has long been eyed as part of an inland port development.

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Convicted fraudster Rick Koerber sentenced to 14 years in

(1 days ago) SALT LAKE CITY — More than a decade of legal wrangling culminated in an anti-government rally and a raucous federal court hearing, including U.S. marshals dragging a man from the courtroom, where a Utah real estate investor who billed himself as the “Free Capitalist” learned Tuesday he’ll spend more than a decade behind bars.

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Fear and trepidation grip many now trying to buy a home in

(5 days ago) Also among the key findings of the survey, commissioned by Utah real estate firm Homie, is that 61% believe the COVID-19 pandemic increased the financial stress of buying a home. The stress was even greater among individuals between the ages of 35 to 44 — where 7 …

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Provo law irks Realtors

(6 days ago) Utah's standard real-estate purchase contracts may be altered after Provo passed an ordinance last week that alarmed Realtors statewide. Most homes in Utah are sold using standard contracts constantly updated by the Utah Association of Realtors to reflect new issues in the real-estate …

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Father’s Day: Dads recount how fatherhood changed their

(6 days ago) Now a commercial real estate executive and board member for Promise Keepers, Hennings, 54, put Chase first during that trying time because he realized that “my ultimate legacy, that one that I pass on to this world, is my son,” he said. That legacy now includes a daughter, Brenna — born four years after Chase.

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EVEN STARS' HOMES DON'T SHINE IN SLUGGISH MARKET

(Just Now) Not just the middle class is struggling to sell their homes in Southern California. The faltering real estate market has affected some famous properties as well. The multimillion-dollar estates of the late Lucille Ball and Sammy Davis Jr., for example, are still on the market long after their deaths. The asking price for Ball's Beverly Hills home has been cut nearly in half, to $4.25 million.

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Woodbury Corp. looks back on 100 years of business

(1 days ago) The Salt Lake real estate management and development company, now run by five third-generation cousins, was founded in 1919.

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HOUSES THAT STAY ON MARKET TOO LONG GET BAD

(6 days ago) If you list your house with a real estate agent, it's a good idea to limit the contract to three months - not six. That way, you have options. When the contract expires, you can decide whether to seek a new agent, take the house off the market, rent it with an option to buy or re-list with the same agent.

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He missed out on the Olympics. His story has never been

(2 days ago) Many sports aficionados will remember Vranes. In another life, before he went to work in the construction and real estate business, Vranes was a basketball player, but that’s an understatement. Four decades later, he is still the greatest basketball player the state has ever produced.

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Utah economy bolstering commercial real estate market

(4 days ago) NAIOP is a commercial real estate development association with members throughout North America. The half-day event was hosted at Vivint Smart Home Arena. Mellott said that planning for the future starts with educating the local workforce to ensure the state is investing in homegrown talent.

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REAL ESTATE AGENT ACCUSED OF RAPING W.V. WOMAN

(8 days ago) A real estate agent hired to sell a West Valley house raped the owner after showing the home Saturday, police say. The agent, a 37-year-old Salt Lake man, is alleged to have grabbed the West Valley woman from behind as she pointed out an area in the bedroom needing repairs, said West Valley police detective Tracy Cowley.Evidence left behind suggests an assault and rape occurred, he said.

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Death: Marion Seth Horne

(5 days ago) His first real estate venture was the purchase of a piece of land in Alexandria, Virginia (which was eventually sold to Marriott). During the early years, as a real estate developer, he obtained the first apartment zoning in Fairfax County, Virginia where he built a large complex of apartments, shopping center and offices.

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Whether in hoops, real estate or everyday life, investing

(Just Now) Whether in hoops, real estate or everyday life, investing has paid off big for former BYU basketball standout Terrell Lyday. After leaving BYU, Terrell Lyday made it to the top of European basketball with championships and honors, bringing home money for investments to set up his family in Fresno. BYU’s Terrell Lyday drives to the basket on

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Robert Trump, President Donald Trump’s younger brother

(7 days ago) Robert Stewart Trump was born in 1948, the youngest of New York City real estate developer Fred Trump’s five children. The president, more than two years older than Robert, admittedly bullied his brother in their younger years, even as he praised his loyalty and laid-back demeanor.

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Jay Evensen: If you could telework from anywhere, where

(7 days ago) The pandemic may give us permanent workplace freedom, but that could come at a huge cost. By Jay Evensen, Columnist Jul 23, 2020, 9:00am MDT. In this June 12, 2020, photo, Gregory Minott works in his home office in Andover, Mass. The COVID-19 pandemic may lead to long-term telework — but that could cost real estate and low-income workers.

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Coldwell Commercial acquired by Colliers International

(6 days ago) With 2017 corporate revenues of $2.3 billion, Colliers is the fastest-growing publicly listed global real estate company operating in 69 countries with more than 12,000 employees. Established in 1998, the Utah-based CBC Advisors had provided commercial real estate services from four offices throughout the Intermountain West.

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Kyle Beckerman excited for new ownership for Real Salt

(7 days ago) SANDY — Real Salt Lake captain Kyle Beckerman didn’t come out and say that Dell Loy Hansen was a bad owner, but read between the lines and that’s exactly what he meant during a Zoom call with the reporters Monday. “It’s pretty known around the league who’s got owners who want to win and who has owners who don’t.

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Church finances: A look inside how Latter-day Saint funds

(6 days ago) The church invests in stocks so it can capture the value in economic boom times. It invests in agriculture, commercial real estate, residential real estate and other financial instruments to hedge against inflation during tougher times. “The church has an attitude of being very conservative, very prudent,” Bishop Caussé said.

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