Murray Utah, 219 Homes for Sale, 12 are Short Sales !!
Of the 219 Condominiums and Homes for sale in Murray Utah, 5.4% (12) are short sales or are facing foreclosure.
Thats not a bad statistic when you look at some of the other areas of the country, where as much as 40% of the standing inventory of homes for sale can be characterised as distressed.
The Wasatch Front MLS gathers these numbers from home listings Realtors have entered into the system. They Identify a property as being either a Foreclosure, Bank Owned, a HUD Home, Short Sale, or a home that requires approval of a third party before it can be sold or purchased.
New homes/condominiums, (new construction) offered by builders that are sold from model homes, or subdivision sites, with their own Real Estate Agent representing them are not included in this report. Neither are homes for sale by owners (FSBOs) as they are generally not listed.
Short sales can have value for all parties in the Real Estate transaction. The owners get out of a mess without totally destroying their credit. On a short sale new IRS regs allow the debt relief to be a non taxable event, and in Utah the deficiency consequence of selling your house for less than you owe goes away.
Banks or mortgage holders are agreeable, as foreclosures are time consuming, costly, and leave homes vulnerable to vandalism, further value deterioration, theft, insurance liability and a host of other problems.
Best of all, Home buyers, whether they are families moving up, or Real Estate Investors can purchase new and previously owned homes for considerable savings.
The following examines some areas of interest you might have when looking for short sales or Bank Owned Homes for sale in Murray, Ut.
Total Inventory of Murray Ut Homes for sale:
As of 4/26/08, there was 143 single family homes & 76 condominiums for sale in Murray Ut.
Murray has a for sale housing inventory of almost 35% condos.
Murray Ut, Short Sales, or Bank owned Homes:
Five and a half per cent of the 143 single family homes, 8 can be considered as distressed property.
Only 5% of the 76 condominiums for sale in Murray, 4, are Bank Owned, foreclosures or short.
Thirty day trend:
In the last 30 days 2 homes or condominiums have been added to Murrays homes for sale.
Contracts have been signed by 1 home buyers. Ratified by lenders.
One distressed house has closed in Murray in the last 30 days.
Commentary:
Short sales sold in Murray over the last 30 days range from a 38 year old condo for $124,900 to an $875,000 5 year old luxury home w/ acreage. Real Estate, all things considered is in pretty good shape in most areas of Murray. Pre owned homes dominate the market, but some rather expensive new infill product, mostly condominiums have surfaced in the last few years. Trax, proximity to Salt Lake, mature upscale areas as well as pockets of multi family houses make Murray, Ut. a very stable area for investment and a real attractive place to raise a family.
Buying a short sale home, or a foreclosed property isn't difficult, but it takes preparation, and an experienced Realtor.
If you have a Realtor, put them to work TODAY!!!
If you don't have a Realtor, we'd like you to check us out. Go to our web site Salt Lake Real Estate and see how serious we are about this business.
If you want to start looking for your next Murray Ut home among the 219 houses available, just click on the website pages that provide all the listings, Salt Lake homes. It's FREE, updated daily and lets you see pictures , addresses, prices, and necessary information. Or just give us a call @ 801-567-0946.
Remember, there are 219 Murray Utah Homes for sale, 12 (5.4%) are short sales waiting for you to take advantage of the market.