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Draper Utah, Short Sales, Bank Owned Homes & Foreclosures Report!

Real Estate in Draper, Ut is similar to Real Estate in most parts of Utah. Homes for sale as short sales, Bank owned homes and foreclosures are making a real impact on the housing market. In many areas across the country, short sales make up as much as 25% of the housing inventory.

We are reporting here about homes that for whatever reason (mostly blamed on the sub-prime mortgage market) are facing foreclosure in Draper Ut. We also include Bank Owned Homes, REOs, HUD homes for sale, and foreclosures.

Short Sales make sense. The lender can get the non performing home loan off the books, without the expense of the foreclosure process. The home owner benefits as a successful Short Sale has less of a negative credit impact than a foreclosure or bankruptcy, and the new buyer wins as a new home buyer should pay less than market value. Thats not always the case, but a good Realtor can make that a real priority.

Heres what we found out about Short Sales and Bank Owned Homes/Condominiums in Draper Ut. as of 7/22/08.

Total Homes For Sale in Draper Utah:                                    701

Draper Ut, Short Sale Homes/Condos                                        87

Per Cent of Houses Listed:                                                        12%

Short Sales Under Contract in Draper,  Ut:                                 11

Under Contract last 30 Days:                                                        5

Short Sales Listed in Sandy Ut, last 30 Days:                              22

The Real Estate market under the circumstances looks pretty good in Draper. There are just enough short sales to attract Real estate investors, but not so many that it would discourage a relocation buyer. However I would be somewhat cautious as 25% of the short sales listed took place in the last 30 days.

Only 3% of total listed homes for sale are distressed properties.

To find out more about Short Sales, Bank Owned Homes and foreclosures stop by our website, Salt Lake Homes and get pictures, prices, addresses and information. It's FREE, and we update daily.

If you'd like to call us at 801-567-0946, we'd love to talk to you about Real Estate, in Draper Ut, homes for sale and our short sale report.

 

 
Published Tuesday, July 22, 2008 8:24 AM by Corie Seymour

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