Real Estate- A look at Foreclosed Herriman UT Homes !
Almost every one that calls lately about Real Estate wants me to take a look at Foreclosed Herriman UT Homes for Sale.
Why ?
Because Herriman UT is the capital of Bank Owned Homes and Short Sale opportunities in Utah.
I guess the title is passed back and forth between the various luxury neighborhoods surrounding Rosecrest, and the upscale homes that are having foreclosures problems in Draper.
Either way, home buyers, looking to take advantage of the best buyers market in many years and Real Estate Investors that have decided that now is the time and this is the place, all want to know whats happening with foreclosures in Herriman.
Frankly in a market like this it doesn't do much good to go back and look at what was happening last year or even last month. We need to know whats happening now. So with that in mind, I'm offering some statistics and commentary on what has happened to Herriman houses in the last 30 days, with special attention to "short sales" in Herriman (which are facing foreclosure) and foreclosed homes, or (Bank Owned REOs) in that part of Salt Lake.
Homes For Sale In Herriman UT:
There are currently 396 homes for sale in Herriman. Three hundred seventy eight are single family houses and 18 are Condominiums listed for sale on the Wasatch Front MLS.
One hundred thirty seven of these homes are distressed properties. IE: Short sales, Pre-Foreclosures, Bank Owned REOs, HUD Homes, Homesteps, or in the hands of trustees.
That means that about 35% of the total homes for sale could be a potential "good buy".
Only 5 of these are condos.
Herriman Homes For sale Last 30 Days:
In the last 30 days, 64 new homes were added to those listed on the MLS.
Thirty homes were sold in Herriman in the last 30 days.
Only 2 of those were Condominiums.
10 of those, or 30% of the new housing inventory were distressed homes.
5 were short sales and 5 were foreclosed houses.
27 Herriman Homes were placed under contract over the last 30 days.
Thirteen were distressed properties. (about 48% of new contracts)
Nine were short sales.
Four were homes that were foreclosed on and now owned by the bank.
Foreclosed Homes and Short Sales Sold In Herriman UT: (Last 30 days)
Price range of homes sold was from $200,000 for a Herriman Rambler (short sale) to $532,000 for a two story
8 bedroom bank owned foreclosed home.
Average price of the 10 homes was $317,000 dollars.
Two of the short sales actually closed for more than the listed price.
Largest discount from listed price was a Bank Owned REO that was discounted $111,000 (21%) from asking price.
Average age of homes sold was 4.4 years.
Average square feet of homes sold was 3905. ($81.18 sq ft).
These numbers should be enough to start a conversation, if your looking at buying a home in the Salt Lake valley.
Keep in mind, were not attorneys or tax guys and we don't give that kind of advise. What we can do with you is explore some strategies for buying a home and perhaps put you in a position to take advantage of a true buyers market.
If you would like to see other areas around Salt Lake, visit our web-site and you can look at over 8000 listings in SL County. Just click on Salt Lake Homes, we'll provide photos, maps, directions, prices and comments that will help you search for a new home. It's FREE and no registration is required.
Or feel free to call us @ 801-567-0946 if you want to talk Real Estate, or look at Foreclosed Herriman Ut Homes.