Report on Salt Lake Short Sales and Bank Owned Homes for Sale !
This report on Salt Lake Short Sales and Bank Owned Homes on August 17th, of 08 is a response to the flood of response we have gotten from last weeks article that named Utah as ranking number 9 in the U.S in the area of home foreclosures.
Since Real Estate is local, and it seems like being a smart home buyer or condo seller depends a large part on our ability to anticipate trends, we are going to present you with a snapshot of whats been happening in Salt Lake County over the last 35 days.
Salt Lake County Homes For Sale:
On 7/12/08 The number of homes for sale in Salt Lake County was 8566.
Thirty five days later, that number increased to 8611.
The increase of 45 homes represented about one half of one per-cent of all of the homes listed on the Wasatch Front MLS.
Short Sales-Bank Owned Homes for Sale:
Last month 731 S L County homes were listed for sale as either pre-foreclosure homes or REOs.
That represented 8.5% of all the homes listed for sale.
This month, 855 houses are characterized on the MLS as distressed properties.
This increase of 124 homes was about 1.5% in the last 35 days.
HUD HOMES-Short Sales and Bank Owned Homes Sold:
In the last 35 days, seventy distressed houses have been sold in Salt Lake County.
That's about 9% of the available housing inventory, either single family homes, town-homes or condominiums in Salt Lake County.
To maintain that trend, agents will need to sell between 80 and 85 homes this month.
This information does not include those homes for sale by owner (FSBOs) nor many of the New Homes owned by contractors as they sometimes don't list houses but rely on local Realtors to provide buyers for in house sales.
Based on these stats, it's safe to say that the trend is definitely headed in the direction of more problem properties being available on the MLS.
That also means buying opportunities for Investors, transferees, families relocating to Utah, and folks that are in a position to move up.
To see all of the 8500+ homes for sale in Salt Lake County, stop by our web-site @ S.L.Homes for sale. You'll see pictures , prices, maps, and information helpful in your home search.
Or you can call us @ 801-567-0946 for any Real Estate related questions or to discuss our report on Salt Lake Short Sales and Bank Owned Homes For Sale.