You’re invited to REALTOR® Day at the Legislature 2011

Friday, February 25, 2011
South Towne Expo Center and Utah State Capitol

Join the Utah Association of REALTORS® on Feb. 25 for a day of education and networking. This year, the annual REALTOR® Day at the Legislature event will begin with presentations at the South Towne Expo Center, including a speech by Gov. Gary R. Herbert, and will conclude with a luncheon with legislators at the Capitol Rotunda.

The event is free to all UAR members. Members must register by Feb. 18 or before the event is sold out, whichever comes first. REALTORS® are encouraged to register for both the education and luncheon well in advance as space is extremely limited this year.

Register at: http://www2.realtoractioncenter.com/site/Calendar?id=101681&view=Detail

Schedule
8 a.m. - Check-in/breakfast begins at the South Towne Expo Center (Room 300A-300D)

9-11 a.m. - Education presentations

11:20 a.m. - Shuttle busses leave Expo Center(Note: Parking is extremely limited at the Capitol during the legislative session. All attendees are strongly encouraged to ride the shuttle busses to ensure they are able to participate in the luncheon.)
Noon - Luncheon at Capitol Rotunda

2010 4th Quarter Report on Commercial Real Estate in Southern Utah

2010 brought many changes to the real estate community. There were changes in the lending environment, bank regulations, inventory/pricing, and investor confidence. With all those changes things came together during the later part of the year and the 4Q brought some positive hopeful news. My office saw a significant increase in sales and leasing activity, as did significant parts of the market. Some of our larger neighboring communities have seen Banks get more aggressive about selling product and getting a fresh start in 2011. Some areas have seen a bit of speculative construction beginning to happen and several major business announcements took place.Here’s hoping that it will continue forward in to 2011!

Click on the above image to see the 2010 4th Quarter Market Report

 You will find new business announcements, vacancy and absorption figures, leasing rates, and other helpful information. For the most part there was some positive absorption and rates held steady for the first time in 6-7 quarters.

On the residential side we continue to see a number of properties going into a notice of default status and also foreclosure. The Good news is that these properties are being priced right by the Lenders and are moving at a rapid pace. There continues to be strong Buyer demand and some ability to get these properties financed. commercial tends to trail residential real estate.


Wes G. Davis, MBA, MCRE
Sr. Vice President of Sales and Leasing
243 E St. George Blvd. Suite 200St. George, UT 84790
Office: (435) 628-1609
Fax: (435) 627-5706