How Many Salt Lake Homes For Sale Are Pre-Foreclosures?
Ever wondered how many of the Salt Lake Homes for Sale are Pre-Foreclosures?
We have !
With over 8450 Salt Lake County home owners listing their homes for sale across the MLS and all this talk about impending doom in the SLC Real Estate market, we thought we'd see how many of those houses we could identify as distressed properties.
Keep in mind that the most accurate information we can give you comes from the Wasatch Front Regional Multiple Listing Service (MLS), and they dont list all of the homes for sale by owner (FSBOs). Likewise many new homes for sale in Salt Lake are not listed as builders prefer to hire agents and sell from model homes.
These two situations are changing though as FSBOs realise that almost 80% of homes for sale by owner end up being sold by a Real Estate Agent.
Builders that are seeing pre built housing inventory stack up and are looking to banks for a "short sale" solution are being required in many cases to list their New Homes with a Realtor before they can proceed.
So.......... Here's what we can report to you today about foreclosures and pre-foreclosures in Salt Lake City today, Oct. 18, 2008. (Bank Owned, HUD Homes, Short Sales, Corporate Owned, and Foreclosed Homes).
Salt Lake Pre-Foreclosed and Foreclosures:
There are 8453 homes listed on the MLS in Salt Lake County.(includes Condominiums).
Of those homes listed in SLC, 1120 are Foreclosures or pre-foreclosures.
The 1120 represents an increase of 88 homes over the last 10 days.
That means that 13% of all the homes listed in Salt Lake County are distressed houses.
The two areas with the most problem homes are Bluffdale, (33.6%) and Herriman, (31.9%)
The least number of pre-foreclosures or foreclosed homes are in Holladay, (3.8%) and Murray UT, (6.9%).
We hope this report has been helpful in your search for a new home, and in understanding a market that is bombarded daily with information that may not be true or accurate in the areas in which you are interested.
Remember, Real Estate , like almost all things, is local. We hope we have been able to point that out here.
Salt Lake City is still a dynamic and vital Real Estate market.
If you are an Investor, a home owner looking to upgrade, or a family that is considering moving to Salt Lake, you will find opportunity. The best opportunity we've seen in years.
Get a Realtor, get on the Internet, and get going !!!
To search through the more than 8500 homes for sale in the Salt Lake Valley, we invite you to visit our website @ Salt Lake Homes for Sale. You'll have access to almost everything a Realtor has when searching for homes; pictures, prices, maps, directions and features. It's FREE !!
If You just want to browse through pre-foreclosures, Bank Owned Homes, and Short Sales, click on Salt Lake Pre-Foreclosures.
In a hurray? Call us at 801-567-0946 and we'll talk all about Real Estate or just about How many Salt Lake Homes are Pre-Foreclosures.