Real estate lawyers in Utah are no strangers to complex and sometimes messy title transfers and urban Salt Lake City sees more involvement in real estate law than the rest of the state combined. The recent Flower Patch controversy is a prime example. Located at 500 S. State Street in Salt Lake City, the parcel adjacent to the Grand America Hotel has been in a legal real estate battle for years. The property owners fought the original declaration that listed the area as blighted and dilapidated, which could have resulted in forceable sale. However, in an effort to spruce up the area, Sinclair Oil constructed the Grand America Hotel, much to the dismay of Flower Patch owner Mac Livingston who could only watched while the large hotel was built next to his property.
Salt Lake City real estate attorneys have been engaged in the struggle over this acreage since 1995, representing both Livingston and interested buyer Grand America Hotels & Resort. An original price for the blighted property of $266,000 apparently made way for the “fairer” proposal offered this week, but Livingston has been absorbed in a real estate legal struggle for some time, fighting off the Salt Lake City Council and acquiring the land through eminent domain after the area was condemned.
REAL ESTATE LAWYERS IN UTAH GEAR UP FOR REAL ESTATE GROWTH
A real estate lawyers in Utah are familiar with property battles. The state has a high percentage of resort, timeshare and fractional ownership properties, as well as second homes, hunting land, and other unique legal real estate situations. As a result, the realtor industry is growing. Utah has over ten real estate schools, with live and online course offerings. Professional specialties in Utah real estate include law, appraisal, brokering, financing and development of rural land, retail, industrial, leisure/recreation, and others across the state. In 2011, there were more than 13,000 licensed realtors in the state and that count is consistently growing.
The housing market in Salt Lake City has fluctuated in the years since the Great Recession, but has grown healthier and steadily improved, with foreclosure rates falling in 2013. The winter tourist industry in the Wasatch Mountains brings skiers looking for vacation or second home ownership each year too, and development in rural areas of the state is growing as well.
A burgeoning employment rate means a boost in Utah real estate. Analysts anticipate an increase in jobs and decrease in unemployment for 2014, mostly in the private sector economy – technology and information, leisure and hospitality and the financial services industries. While some challenges (Kennecott Utah Copper’s Bingham Canyon Mine and its lost production) remain, redevelopment efforts in the Salt Lake Airport and additions at Hill Air Force Base promise notable projects in the upcoming months. However, The SLC metropolitan area continues to grow, and while real estate agents may outnumber Salt Lake City real estate lawyers, one thing is for sure: the property ownership market in Utah is a feisty one, full of opportunity.
Free Consultation with a Foreclosure Lawyer
If you need help with a foreclosure, call Ascent Law for your free consultation (801) 676-5506. We want to help you.
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506