The Truth About Short Sales & Foreclosed Homes-Please !
Just tell the truth about Short Sales & Foreclosed Homes. Please !
They say that the only thing worse than bad publicity is no publicity at all.
I disagree !
Publicity that paints an inaccurate picture of reality, or misinformation presented as fact to people looking for critical answers is worse than no information at all.
At times like this, when economic confidence in the Real Estate market is at such a low ebb, we need all the positive information about home sales we can get.
The article in the At Home In Utah section of the Salt Lake Tribune "making the best of short sales" did us all a disservice and revealed the newspaper to be very casual with the truth.
At times like this, when we need all the positive information about the economy we can get, the author and the editor of this particular bundle of misleading information owe us all an apology.
The Salt Lake Tribune should admit that at the very least they were careless, and take measures to set the record straight.
Here are just a few of the things mentioned in the article that distort the Real Estate Market in the State of Utah, and specifically the real status of homes for sale in Salt Lake County.
The article states and I quote...
"Between 50 and 75% of homes on the market are short sales, so if you are looking for a new home your choices may be limited to short sale properties".
NOT EVEN CLOSE !!!
The facts are these:
There are 21,379 homes for sale in the State Of Utah, as off 4/10/09.
The total number of distressed properties, IE: Short Sales, Bank Owned, REOs, Foreclosures, and Corporate Owned Homes was only 3,216.
That represents 15% of all the homes listed in Utah.
Salt Lake City Homes Listed For Sale number 7,813.
The number of Pre-Foreclosures, and Foreclosed Homes on 4/10/09 was 1,362.
That's 17.4% of the Salt Lake City Homes For Sale.
The percentage of homes that are under pressure and would qualify as Foreclosures or Pre-Foreclosures in some of the cities around Salt Lake City are:
Herriman 36.5%
Bluffdale 29%
Draper 27%
South Jordan 19.6%
West Jordan 19.5%
Murray UT 18%
Sandy UT 13.3%
S.L.City 12.7%
Cottonwood 7.7%
Holladay 5%
So you see my problem.
The huge distortion regarding the number of short sales listed for sale in Salt lake can discourage sellers, give buyers an unrealistic impression of the price pressure when making an offer, and in general create a false basis upon which all Real Estate negotiations take place.
We don't need that.
To see all of the homes listed in Salt Lake click on Search MLS and try our new upgraded search page. You'll find prices, photos, price history, information on adjoining homes, days on market and much more.
Real information to help make an informed decission.
To see a fresh list of short sales and pre-foreclosed homes visit Short Sales. All of the short sales in one place, updated daily. It's FREE !
If accurate, timely and truthful information is what you need to make that Real Estate decission, call us 801-567-0946.
We know or will find the material you need. We've already told you the truth about Short Sales and Foreclosed Homes In Salt Lake City Utah.