400 Herriman Homes For Sale Today !!!
There are 400 homes for sale today in Herriman Utah. Three hundred seventy four houses, and 26 condominiums. Twelve and a half per cent of these homes (50 houses) are what is considered in the Real Estate Industry as distressed properties. Of course that's a misnomer, the homes aren't distressed, the home owners are, or in some cases it's just the mortgage lender that's all fired up.
For a variety of reasons the owners of these homes either can't or are no longer willing to make the payments. It might be a case of the sub primes, or it could be that the seven hundred dollar a month SUV payment is taking a toll on the families staying power. Or heaven forbid, a real medical circumstance has made owning a home less of a priority.
Whatever the reason, many homes around the country are being sold, with the approval of the lenders for less than is actually owed.
I'm sure you have seen these houses advertised, maybe you just didn't recognize the way they were presented. How about "Bank Owned, HUD, REOs, foreclosures, and short sales" ?
Because of the number of homes for sale in this category, some real opportunities exist. Investors, I mean REAL Investors, can pick up some beautiful homes for less than the cost of construction. In many cases much less. Families, hoping to move up to a larger house, providing they have good credit & don't need to sell before they buy can surely find a new house that until a few months ago was out of range.
I had started this post last night, and I was going to finish up this morning by telling you that the best or worst, (depending on whether your a buyer or seller) place to look for short sales in Utah was right over here in the south part of the Salt Lake Valley in Herriman.
I was going to tell you that of the 400 homes for sale in Herriman, 50 are Short Sales or Bank Owned. I was going to mention that of the 62 houses in Herriman that are under contract, nineteen per-cent are distressed properties.
I was going to tell you how bad the Real Estate market is in Herriman. That we must have just about reached bottom. NOT SO FAST !!!
After reading my good friend Jay Thompson's article,(The Phoenix Real Estate Guy) on the Phoenix market I dont have the nerve. Salt Lake housing could be a lot worse. It could be like Phoenix.
Check this out from Jays blog. Almost 42% of the Phoenix East Valley home listings could be in a short sale situation. Now thats bottom. .....We hope.
The point to all this is that Right now if you are a home buyer in Herriman things are pretty good, if your a seller, hang on and hope things don't start to look like Phoenix.
If you'd like to view all of the Herriman homes for sale, or check out short sales around the Salt Lake Valley, visit All Salt Lake Homes, you can see prices, addresses, photos, and the same information Realtors do. For help with other Real Estate needs, call us @801 567-0946.
In the mean time, get on out to Herriman and take a look at one of the 400 homes for sale.