Salt Lake Foreclosures In Draper UT-How To Price An Offer!
Today we will look at Salt Lake Foreclosures In Draper Utah, and use the "how much have the homes sold for" to determine how to price an offer on the foreclosed home we want to buy.
Our blog on how much to offer on Salt Lake Foreclosures received a lot of comments last week.
A lot of potential home buyers asked if we would comment on individual areas or Zip codes in Salt Lake City.
Yesterday we started our series by checking out Foreclosures in Sandy UT.
Today it will be foreclosed homes in Draper Utah, and what Houses & Condominiums owned by Banks actually sold for in the last 30 days.
There is a lot of confusion out there about how much to offer banks or corporations for their REOs and Bank Owned Homes listed on the MLS.
Unlike most of the reports we pass on from information we get from the MLS, the stats do include Houses For Sale By Owner (FSBOs) and New Homes (new construction) that have been foreclosed from Home Builders.
We consider this an important report as many potential SLC home buyers and Real Estate Investors have heard that you can buy foreclosed Homes or Condominiums for pennies on the dollar.
Ads on Radio, TV, and in newspapers make unbelievable claims about instant wealth available to investors that invest in Salt Lake Foreclosed Homes.
Heres the truth.
Rather than disprove these claims, we are going to take a more direct approach, and simply list for you the listed price vs the actual sales price of Salt Lake foreclosure homes that have closed in the last thirty days.
In addition, so that you can make your own analysis of the SLC housing market we will include other information such as days on market, length of time from offer to closing, neighborhood, zip codes, etc:
Overview Of Salt Lake Foreclosures In Draper Utah-10/15/09
There are 37 Foreclosed homes/condominiums listed for sale in Draper Utah.
9 of those houses/condos were listed in the last 30 days.
7 homes were put under contract since 9/15/02 in Draper UT.
In the last 30 days, 10 Draper UT Foreclosures have been sold.
Total listed price of Draper Foreclosed homes sold w/in last 30 days was $3,183,426.
The homes ranged in price between $234,900 & $457,900.
Average price of Draper UT Foreclosures sold in the last 30 days was $318,343 dollars.
Average sq. ft. of Draper Foreclosures was 4,149 Square Feet.
That is a foreclosed listed price of $75.90 dollars a ft. in Draper Utah.
The price of the homes sold in the last 30 days was $3,051,230.
Sales Price per Sq. Ft. on foreclosures in Draper UT was $72.75.
Salt Lake Zip codes for sales were 84020.
Foreclosed homes in Draper UT were found in the communities of Suncrest, Deer Ridge, Traverse Chateaux, Highlands, East Creek Cove, & Belleview Utah.
The average age of Draper Foreclosures was a little over 4 years old.
Days on market was 38 days on average.
Banks discounted Foreclosures in Draper Utah, about 4% on sales from 9/15/09 to 10/15/09.
Now you have an accurate understanding of what has actually happened with those Draper UT homes that banks have taken back into their own ownership through the foreclosure process. (REOs).
For an accurate list of all of the Salt Lake Bank Owned Homes and Foreclosures in Salt Lake you can go directly to SLC FORECLOSURES and see almost all of the REO homes that are listed for sale on the MLS.
If you would like more information on how to buy Utah foreclosures, browse the SLC Blog for articles and tips on buying that home or condominium.
To see reports on other Salt Lake Cities IE: West Jordan, South Jordan, Riverton UT, Murray UT, and Downtown Salt Lake, check back here often as we will cover each city every 30 days so that you will be on top of the Real Estate market in Salt Lake City.
Or you can just call us @ 801-567-0946. We love to talk about Salt Lake Real Estate, and Salt Lake Foreclosures In Draper Utah and how much you should offer on that foreclosed home.