South Jordan UT Homes For Sale In Salt Lake-Report 07/01/09
The South Jordan Utah homes for sale report for Salt Lake on 7/01/09 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums. South Jordan Utah homes make up almost 6.5% of that number, with 480 single family homes for sale. 44 (6%) of those are condominiums.
The information contained in this Draper Real Estate Market Analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
This fact is particularly important in looking at homes for sale in South Jordan as it houses one of Northern Utahs most dynamic developments; Daybreak.
While there are some resales and foreclosures in Daybreak, the majority of homes for sale are new construction and are presented by some of the Utahs premier builders.
As many as 20 model homes may be available to tour at any one time, and it is claimed that 3 in 10 homes purchased in Salt Lake are homes in Daybreak.
This fact will certainly impact any numbers presented in this report.
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.
Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.
It's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to South Jordan UT or any other town in Salt Lake County, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in South Jordan UT:
There are 480 homes for sale in South Jordan Utah, as of 01/07/09
Over 9%, or 44 of these are Condominiums.
Single family detached homes for sale in Salt lake County number 5975.
Condominiums for sale make up 20.8% of the homes for sale in SLC, 1578.
South Jordan Homes activity last thirty days:
In the last thirty days,114 new home listings have been added to homes for sale in So. Jordan UT.
Ten of these were condos. Almost 9% , is less than the proportionate share.
57 South Jordan homes were sold and closed in that same time frame.
58 new contracts were written by Salt Lake Realtors. Only 2 of these were So. Jordan UT Condominiums.
South Jordan Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes listed on the MLS in South Jordan is 95.That's a little over over 19.7% of the total homes listed.
Nineteen of these homes/condos have been added within the last 30 days to home listings in South Jordan UT.
153 of these homes (foreclosed homes and pre foreclosures in S. Jordan have sold in the first half of the year.
Nineteen distressed properties were placed under contract last month.IE: Bank Owned, Short Sale, HUD Home, or offer that requires 3rd party approval.
About South Jordan homes for sale:
Of all the areas in Utah, the Daybreak area of South Jordan affords the home buyer the widest choice of listed homes or condos as well as unlisted new homes for sale to choose from. Anchored by a committed developer ( Kennecott ) with more than adequate resources and staying power some of Utahs most respected new home builders have made significant investments in South Jordan's Daybreak.
Whether you are looking for a new home to buy, or a previously owned condominium with low HOE dues, Daybreak is where you should consider your home search.
We would also recommend searching established subdivisions like Jones Farm, South Jordan Heights, High Point and "The District" for upscale family home opportunities.
Active homes listed for sale in South Jordan range over the broadest spectrum of any neighborhood in SLC.
The average price of South Jordan listings is $344,886.
The average contract written is $276,410.
South Jordan houses closed (on average), selling for $272,434.
The average days on the market for homes in South Jordan is 124 DOM.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for Sandy Utah and West Jordan on this same site.
To have a look at the 7550 homes for sale in Salt Lake, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment in South Jordan or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the South Jordan Utah Homes For Sale- Salt Lake 7/01/09.
Almost every day you can read about updates on home mortgages that could effect your ability to qualify for a loan on your New Salt Lake Home.
Some of the best mortgage and home loan updates come from our friend, associate and trusted lender Doug Walker @ Republic Mortgage.Home Loans.
We work closely with Doug and his staff, and have recommended him to clients that need help with rates, or qualifying for that new home loan. He's been doing this a long time, and you can count on what he says.
In the next couple of weeks you'll get to know Doug through a new Homes listing search tool that he is helping us install on our site to make your Utah property search more interesting, more usable and more fun.
In the meantime. these are some Mortgage related updates Doug sent. We thought they might be helpful to you so were sending them on.
There are a few guideline changes I thought I would make you aware of. The attachment has more information than you want to know, but here are the highlights:
Fannie Mae loans
1. Borrowers may now use credit cards to pay for up to 2% of fees. They still need to have liquid funds available, but that can mean a 401k or other funds they don't want to liquidate. Think "Skymiles"!
2. Pre-approvals are now good for 90 days instead of 120 before we have to update the credit report.
3. Borrowers must re-qualify for long term financing on one-time close construction loans.
Appraisals
1. Lenders are now required to provide a copy of the appraisal to the buyers 3 days before closing. If this is not done, it could delay closing. There is an option for the buyers to waive this right, but lenders will be audited on how many times they rely on this waiver. Republic Mortgage has already put in place actions to perform and document this new requirement.
Refi - Plus
1. Certain Fannie Mae loans are eligible for 105% LTV on a refinance. Some can now even go to 125% LTV. It must be owned by Fannie Mae among other restrictions. The property can even be listed for sale!
Advertising
1. New Reg Z rules effective Oct 1, 2009. Details are outlined on the attachment. Not huge changes, but a good reminder of how to disclose properly when advertising payments. Summary - more fine print.
I hope this is information is beneficial to you and your clients.
If nothing else, it will make you look good around the water cooler!
We hope so as well !
In case you need more Mortgage Information or help in searching for your new home or condominium in Utah stop by our website @
Salt Lake Real Estate, You'll find lots of help and tools to use.
If you just have a question about Utah Real Estate, call us @ 801-567-0946
.
We'd love to talk to you about Home buying/selling or updates on Home Mortgage Stuff in Salt Lake Utah.
The Draper Utah homes for sale report for Salt Lake on 7/01/09 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums. Draper Utah homes make up almost 6.6% of that number, with 505 single family homes for sale. Ninety two (16%) of those are condominiums.
The information contained in this Draper Real Estate Market Analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.
Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.
It's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to Draper UT or any other town in Salt Lake County, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in Draper UT:
There are 505 homes for sale in Draper Utah, as of 01/07/09
Over 18%, or 122 of these are Condominiums.
Single family detached homes for sale in Salt lake County number 5975.
Condominiums for sale make up 20.8% of the homes for sale in SLC, 1578.
Draper Homes activity last thirty days:
In the last thirty days,90 new home listings have been added to homes for sale in Draper UT.
13 of these were condos. Almost 7% , is less than the proportionate share.
58 Draper homes were sold and closed in that same time frame.
62 new contracts were written by Salt Lake Realtors. 16 of these were Draper UT Condominiums.
Draper Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes listed on the MLS in Draper Utah is 124.That's a little over over 24.5% of the total homes listed.
This number is about the same as West valley City, and twice that of Murray UT.
Twenty one of these homes/condos have been added within the last 30 days to home listings in Draper UT.
492 of these homes (foreclosed homes and pre foreclosures in Draper) have sold in the first half of the year.
Thirty one distressed properties were placed under contract last month.IE: Bank Owned, Short Sale, HUD Home, or offer that requires 3rd party approval.
About Draper homes for sale:
Of all the areas in Utah, the Sun crest area of Draper probably affords the homebuyer and investor alike the greatest opportunity for gain. It also is an area that contains substantial risk. With the bankruptcy of the developer in May of last year through the lawsuits between Draper City and Zions Bank the development has been destabilized to say the least. Obligations are no longer valid and the overall plan has changed and is bound to change even more as the commitments are evaluated by interested parties. It has been my experience that over time these things will work themselves out, but investing in Sun crest is not for the faint of heart. I would encourage anyone considering an investment in Draper to get a Realtor that is knowledgeable about the area and experienced in Real Estate new development.
Active homes listed for sale in Draper range in price from $150,000 to $3,198,000 dollars.
The average price of Draper listings is $498,000.
The average contract written is $403,000.
Draper houses closed (on average), selling for $397,000.
The average days on the market for homes in Draper is 178.
Sixty five % of the homes listed for sale in Draper Utah are priced between $150 and $400,000 dollars.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for South Jordan and West Jordan on this same site.
To have a look at the 7550 homes for sale in Salt Lake, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment in Draper or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the Draper Utah Homes For Sale- Salt Lake 7/01/09.
The West Valley City Homes For Sale Report for Salt Lake on 7/01/09 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums. West Valley City homes make up almost 8% of that number, with 607 single family homes for sale. Seventy four of those are condominiums.
The information contained in this West Valley City Utah Real Estate Market Analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.
Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.
It's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to West Valley City UT or any other town in Salt Lake County, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in West Valley City UT:
There are 681 homes for sale in West Valley Utah, as of 01/07/09
Almost 11%, or 74 of these are Condominiums.
Single family detached homes for sale in Salt lake County number 5975.
West Valley Homes activity last thirty days:
In the last thirty days,151 new home listings have been added to homes for sale in West Valley.
18 of these were condos. Almost 12% and a little less than the proportionate share.
77 West Valley homes were sold and closed in that same time frame.
Seventy seven new contracts were written by Salt Lake Realtors. 8 of these were West Valley Condominiums.
West Valley City Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes listed on the MLS in West Valley Utah is 104.That's a little over over 17% of the total homes listed..
Thirty three of these homes/condos have been added within the last 30 days to home listings in West Valley UT.
Twenty one Have been sold.
147 of these homes (foreclosed homes and pre foreclosures in W Valley) have sold in the first half of the year.
25 distressed properties were placed under contract last month.IE: Bank Owned, Short Sale, HUD Home, or offer that requires 3rd party approval.
About West Valley Homes For Sale:
West Valley City ranks near the top in most negative areas concerning Real Estate evaluation. The City has a reputation for pockets of crime and unsafe neighborhoods.
On the other hand there are some very nice developments of new homes and condos that have been brought to market over the last few years.
West Ridge Estates, and Ivory Highlands are a couple that have been around for awhile, and Arbor Square @ Highbury a new home development of luxury Town Homes by Garbett Homes is worth investigating.
For that reason it is very important that home buyers in the West Valley City area obtain the help of a qualified Realtor, that knows the territory and how to direct potential home buyers to information that should be considered as part of the selection process.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for South Jordan and West Jordan on this same site.
To have a look at over 600 homes for sale in West Valley City UT, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the West Valley City UT Homes For Sale- Salt Lake 7/01/09.
Bank Owned/REO
• 3,592 sq. ft.,4 BEDROOM 3 BATH- 
MLS® $299,900
Salt Lake foreclosures @Heritage Place Estates, Herriman Ut. -
Banked Owned
Quick Response to Offer
Open Floor Plan,
High Ceilings,
Large Kitchen Family Room Open Area
Granite Counter-tops
Hardwood Flooring and Tile.
Large Master Suite
Jetted Tub
EZ to Show.
Over a Third of an Acre
Three Car Garage
Full Unfinished Basement
NOT A SHORT SALE- THIS IS A FORECLOSED HOME IN HERRIMAN UTAH SOLD BY BANK!
This Herriman Utah Foreclosure Was Listed When New Construction @ $525,000 !
To see a complete list of all the Bank Owned Homes, Foreclosed Homes, HUD Homes, Corporate Owned Homes, REOs & Short Sales in The salt Lake Valley click on Search SLC Foreclosures.
For tips and information about buying or selling Real Estate in Salt Lake stop by Salt Lake Real Estate. It's FREE, and showcases our effort to bring you the most search friendly website possible.
For a more detailed information sheet on this listing, give us a call 801-567-0946 or send us an email.
Property information
The Sandy Utah homes for sale report for Salt Lake on 7/01/09 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums. Sandy UT homes make up almost 10% of that number, with 751 single family homes for sale. One hundred twenty two of those are condominiums.
The information contained in this Sandy City Real Estate Market Analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.
Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.
It's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to Sandy UT or any other town in Salt Lake County, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in Sandy City UT:
There are 751 homes for sale in Sandy City Utah, as of 01/07/09
Over 16%, or 122 of these are Condominiums.
Single family detached homes for sale in Salt lake County number 5975.
Sandy City Homes activity last thirty days:
In the last thirty days,181 new home listings have been added to homes for sale in Sandy UT.
Twenty two of these were condos. A little over 12% and a little less than the proportionate share.
102 Sandy homes were sold and closed in that same time frame.
108 new contracts were written by Salt Lake Realtors. 15 of these were Sandy UT Condominiums.
Sandy City Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes listed on the MLS in Sandy Utah is 101.That's a little over over 13% of the total homes listed.
This number is almost exactly the same percentage of troubled properties listed as last year.
Eighteen of these homes/condos have been added within the last 30 days to home listings in Sandy UT.
148 of these homes (foreclosed homes and pre foreclosures in Sandy) have sold in the first half of the year.
Eleven distressed properties were placed under contract last month.IE: Bank Owned, Short Sale, HUD Home, or offer that requires 3rd party approval.
About Sandy City homes for sale:
As usual, Sandy City appears to be the most stable and attractive area along the Wasatch Front. Homes for sale rank 3rd among the cities, Home sales 3rd, and Sandy ranks 2nd overall in days on market. (fewest).
The reasons for the Sandy's Real Estate success has to do with the fact that as the first upscale development in the county, Sandy has adhered for the most part to a realistic development plan, that appeals to a broad range of Utah home buyers. As an example, Horse property in Sandy is available, as well as high density housing for entry level buyers. Large lots can be found adjacent to private gated communities.
Because most of the land was developed prior to the Real Estate boom of the last few years, New Construction has been limited for the most part to infill projects that are easier to monitor and more easily adjusted. Sandy, therefore has not suffered from a huge number of new homes competing with existing inventory. Pre-foreclosures and concentrations of foreclosed homes such as Parry Farms in Bluffdale UT and a number of high end homes REOd from Builders in Herriman are an exception in Sandy City.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for South Jordan and West Jordan on this same site.
To have a look at the 7550 homes for sale in Salt Lake, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the Sandy UT Homes For Sale- Salt Lake 7/01/09.
The West Jordan homes for sale - Salt Lake Report, 07/01/09 - shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums.
Of those listings, 757 or about 10% are homes and Condominiums listed for sale in West Jordan UT.
The information contained in this Salt Lake Real Estate market analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.
Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.
It's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to Salt Lake County, or any other town in the Salt Lake Valley, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in West Jordan Utah:
There are 756 homes for sale in West Jordan Utah, as of 07/01/09
Over 15%, or 116 of these are Condominiums.
Single family detached homes for sale in West Jordan number 640.
This year so far 906 single family homes have been sold in W. Jordan UT.
West Jordan Homes activity last thirty days:
In the last thirty days,205 new home listings have been added.
Twenty four of these were condos, which is accounts for almost 12% of the market.
One hundred two new homes were sold and closed in that same time frame.
one hundred eight new contracts were written by Salt Lake Realtors. 15 of these were W. Jordan Condominiums.
Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes listed on the MLS in West Jordan is 146. That's a little over over 19% of the total homes listed in the city.
Two hundred five of these homes/condos have been added within the last 30 days.
906 of these homes have sold in the first half of the year.
One hundred fifty five of these houses sold w/in the last 30 days.
108 distressed properties were placed under contract last month.
Fifteen West Jordan Condos for sale went under contract in June.
About West Jordan homes for sale:
Next to Salt Lake City itself, there are more homes for sale in West Jordan than any other town in the SLC metro-plex. The homes listed are of a wide variety and price point, as W.Jordan offers New homes for sale as well as previously owned houses and condominiums.
With 15% of the houses in West Jordan being condos and zoning laws that permit animals, the West Jordan housing market has something for everybody. W.Jordan was 2nd behind downtown in the number of distressed properties on the market.
The very aggressive New home construction on the western edge of W.J. has slowed down. The Utah New Home sales incentive program just completed has helped thin out New construction inventory in many of the new developments.
Real Estate good news is two fold. One, there are some real opportunities for the real investors in West Jordan with more cropping up every day. Secondly, Builders of New Homes will bring to market homes with greater appeal to the most dynamic portion of the housing market; entry level buyers. IE: Condominiums, and P.U.Ds with starter homes for first time home buyers.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for Sandy City, West Valley City and Draper UT on this same site.
To have a look at the 757 homes for sale in West Jordan, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available in W. Jordan and across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the West Jordan Homes For Sale-Salt Lake Report 07/01/09
The Salt Lake Utah homes for sale report for July 1,2009 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums.
The information contained in this Salt Lake Real Estate market analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.
Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.
It's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to Salt Lake County, or any other town in the Salt Lake Valley, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in Salt Lake UT:
There are 7551 homes for sale in Salt Lake County, as of 01/07/09
Over 20%, or 1576 of these are Condominiums.
Single family detached homes for sale in Salt lake County number 5975.
Salt Lake Homes activity last thirty days:
In the last thirty days,1898 new home listings have been added.
Three hundred fifty five of these were condos, which is slightly less than the the historical mix. (6%).
Nine hundred ninety nine Salt Lake homes were sold and closed in that same time frame.
1147 new contracts were written by Salt Lake Realtors. 187 of these were Salt Lake Condominiums.
Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes listed on the MLS in Salt Lake is 1299
That's a little over over 17% of the total homes listed.
This number is almost exactly the same percentage of troubled properties listed as last year.
Two hundred sixty two of these homes/condos have been added within the last 30 days.
999 of these homes have sold in the first half of the year.
One hundred sixty two of these sold w/in the last 30 days.
187 distressed properties were placed under contract last month.
About Salt Lake homes for sale:
The most telling statistic to be found in this report on SLC homes is the small percentage of distressed homes listed in the Salt Lake Market. In many areas of the country that percentage of foreclosed homes for sale or pre-foreclosures as a percentage of listings approaches 45%. While there are pockets of new construction projects that contributed a large number of new home foreclosures such as Parry Farms in Bluffdale UT and a number of high end homes in Herriman most areas have room to sell in an ordinary Real Estate negotiation.
New home construction has slowed down with only the large, well financed builders being active. The good news is two fold, one, there are some real opportunities for the real investors in Salt Lake, with more cropping up every day. Secondly, Builders of New Homes will bring to market homes with greater appeal to the most dynamic portion of the housing market; entry level buyers. IE: Condominiums, and P.U.Ds with starter homes for first time home buyers.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for Sandy City, South Jordan and West Jordan on this same site.
To have a look at the 7550 homes for sale in Salt Lake, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the Salt Lake Homes For Sale Report July 1/09.
Most of the real Salt Lake cowboys will call West Jordan home for the next week.
Starting July 2nd thru the 4th the 55th annual West Jordan Stampede will be in town to test all of you Salt Lake cowboys and your families.
You don't need to be a West Jordan home owner. Your invited. You don't even need to be a real cowboy, we want you to come.
It's fun for the whole family.
This year the events started early, with the American Cancer Society's Relay For Life on Friday June,26.
Saturday it was the demolition derby and classic car show.
For the real and wanabee cowboys, and the buckaroos though it's July 1-4,
JULY 1
Gates open at 4:00 at the Veterans Memorial Park with booths, food, entertainment, and for the first time in 5 years a carnival, with rides and games and all that that means to those youngsters. "Old Time Fiddlers" will be on stage along with "The Neighbors", a classic rock group.
JULY 2
Booths, Food and Carnival !
Rodeo, and Pre-Rodeo Entertainment !
PRCA Rodeo, all grandstand tickets only $9.00 !
JULY 3
Booths, Food and Carnival !
Dutch Oven Cook Off !
Guitar Hero !
Stage Shows, (Jagertown, and Shortbus) !
PRCA Rodeo, "Tough enough to wear pink" night !
FREE MOVIE IN THE PARK !
JULY 4
10K-5K Road Race
Flag Raising @ Veterans Memorial Park !
Parade !
Booths, Food, Carnival !
Stage Shows, Guitar Hero, Zentherstick, All The Kings Men ( ELVIS SHOW) !
PRCA Rodeo !
FREE MOVIE IN THE PARK !
FIREWORKS, FIREWORKS, FIREWORKS !!! VETERANS MEMORIAL PARK !
Lets Rodeo @ The Western Stampede In West Jordan Utah, This Year !!!
On July 4th, Come on home to West Jordan, no matter where you live in Utah !!
New Home Sales Surge
If you only saw the headlines this week, you may have missed another real positive sign in the Utah housing market.
According to the Census Bureau, the supply of newly-built homes for sale fell to 10.2 months in May, its lowest level in 10 months.
Unfortunately, the New Homes Sales story wasn't positioned as a positively by the press. Instead, the most common headline on the data read "New Home Sales Dip 0.6%" with many journalists referring to the figures as "weak" or "disappointing".
Only, that's not completely true. Utah New Home sales have just about exhausted the $6,000 New Home Grant, with the majority of sales being New Homes for Sale in the Salt Lake area.
See, one of the nice elements of the monthly New Home Sales report is its footnote section in which the Census Bureau talks about statistical Margin of Error and that section tells us that if the Margin of Error is larger than the measurement itself, the report is useless.
And that's exactly what happened in May.
New Home Sales were measured to have fallen by 0.6 percent but that data point was dwarfed by its 17.8 percent Margin of Error, The "headline data", in other words, was just a guess.
It's not a guess though to Salt Lake home buyers looking to combine the Utah New Home Incentive with the Federal $8,000 First Time Home Buyer Tax Credit.
The fact is, the Utah grant that created funds for homebuyers purchasing newly constructed homes has lived up to its name, "home run". In a period of about 2 months the roughly 1600 housing grants were used to buy new homes in Utah, Most of them in areas surrounding Salt Lake City.
These first time home and condominium buyers are seeing a lot of construction taking place in areas of Suncrest in Herriman, Daybreak in South Jordan, and a variety of New Condominiums in Downtown Salt Lake City.
The press reported it anyway.
Nonetheless, as it relates to the economy, falling home inventories are a positive. Having 10-plus months of homes on the market is still high historically, but a definite improvement over what we saw earlier this year.
So long as low mortgage rates and aggressive pricing persists from builders, we expect even less supply in the months ahead.
To keep track of all of the Salt Lake Homes for Sale stop by SLC Home Listings and access the many homes available in the Salt Lake Valley.
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent.
The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion.
In its press release, the FOMC noted that the U.S. economy is not slowing with the same speed versus just two months ago and that financial markets, in general, are improving.
These are two signs that the country may be emerging from recession, if it hasn't already.
Salt Lake home buyers and those families looking at Salt Lake Homes For Sale see this as real good news. Increases in home mortgages will probably be delayed.
The news isn't all good, however. The Fed made a point to highlight the potential hazards the nations faces on its path to economic recovery:
- The prices of energy and commodities have been rising
- Job losses are still mounting nationally
- Businesses are reducing capital expenditures
Also in its statement, the Fed acknowledged a plan to hold the Fed Funds Rate near zero percent "for an extended period" and a re-commitment to the U.S. Treasury and Mortgage Bond markets.
Market reaction to the Fed's press release has been muted.
With no new stimulus and no new "tools" to spur the economy unveiled, Wall Street is business as usual. Mortgage rates In Salt Lake City Utah are unchanged post-FOMC today.
The FOMC's next scheduled meeting is August 11-12, 2009.
To keep up with the latest information on Utah Real Estate, Home Buying, searching for a home or condo in Salt Lake, or shopping for a home mortgage or lender, stop by our website @ Salt Lake Real Estate. We update daily so you can visit often.
Or call us @ 801-567-0946. We love to talk about Real Estate In Salt Lake City.
More Signs Of A Strengthening Housing Market 
The housing market got another dose of good news yesterday.
According to the National Association of REALTORS, the number of homes sold in May increased for the third straight month and the national housing supply fell by 5 months.
Furthermore, first-time home buyers are accounting for nearly one-third of the market activity.
But, before we declare a bottom in housing, it's important that we remember the First Rule of Real Estate:
All Real Estate Is Local
National housing statistics like Existing Home Sales are painted with a very broad brush. They lump disparate locales such as Salt Lake and Seattle into one sample set and don't account for regional differences, let alone neighborhood ones.
In this case, however, the national statistics support those in Utah, as home sales in Salt Lake City have increased each month since January.
So far in June, Salt Lake Home Sales seem to be continuing this trend. Home & condominium sales in SLC are ahead of last years schedule.
Furthermore, getting down to a city-by-city, or even street-by-street basis, we can always find homes that are selling quickly and home that are languishing. Real estate is highly local and subject to countless influences.
A good example of that in the Salt Lake area is the difference in sales volume and days on market in areas like Herriman, and Bluffdale UT that saw a significant number of new home builders turn homes back to the banks to avoid foreclosure, and a more stable community with less new homes, such as Sandy UT, or Murray UT.
Salt Lake Homes for Sale In Herriman are New Homes, upscale, more costly and likely to be a short sale or a foreclosure. Homes in Sandy or Murray could be Town homes or Condominiums that could appeal to first time home buyers in SLC.
That said, the national data isn't completely useless. From the patterns, we can infer that low mortgage rates, ample home supply and available tax credits are providing a quantifiable boost to the broader real estate market.
And based on recent pending sales data, we can expect June and July's Existing Home Sales figures to be similarly strong to May.
Therefore, if you're in the market for a new home right now -- or plan to be soon -- be conscious of home inventory levels in your target neighborhoods. Fewer homes on the market usually means less ability for buyers to negotiate and that leads to higher sales prices.
Plus, the NAR is reporting buyer activity up 10 percent from last year.
The housing market may not be fully recovered in every housing market just yet, but in studying the data, a lot of the pieces appear to be falling into place.
To stay current on the Salt Lake Real Estate market stop by our website @ Salt Lake Real Estate
and connect to home buying articles, home searching opinions and listings of Salt Lake Homes For Sale.
Or you can call us at 801-567-0946 we'd love to talk about the Salt Lake Housing Market.
The Federal Reserve begins its scheduled two-day meeting this morning. No telling what this will mean to hundreds of Salt Lake Home Buyers, that have yet to lock in a firm mortgage rate.
The meeting is one of 8 scheduled meetings for the Federal Open Market Committee this year.
When the FOMC meets, it discusses the financial and economic conditions around the country and, when appropriate, the group makes new policy meant to speed up or slow down the economy.
The main tool for reaching this goal is the Fed Funds Rate and, earlier this year, the FOMC lowered it to "near-zero" percent in an attempt to stimulate growth.
But the Fed has other tools at its disposal, too, not the least of which is its $1.25 trillion pledge to the mortgage markets.
Now, if you'll remember, the Fed made that pledge in two parts:
- Part 1 came in November 2008 for $500 billion
- Part 2 came in March 2008 for $750 billion
After each announcement, mortgage rates reflexively dropped and stayed low for a period of a day or two. Then, fears of inflation set in on Wall Street, causing mortgage rates to pop back up because inflation is a mortgage-rate killer.
The Fed isn't expected to increase its mortgage market commitment this week, but because mortgage rates are above the government's "target zone", it's possible that the FOMC uses its post-meeting press release to give markets some guidance and its plan for the next several months.
A statement like this could alternately raise mortgage rates or lower them, depending on what the Fed says. You can see what this could do to the purchase of that New Town-home in Daybreak, or that home listed in Sandy UT. that you were going to buy.
It's for this reason that floating a mortgage rate through tomorrow afternoon is extremely risky. The Fed could say nothing about mortgages, or it could say a lot. Either way, a small, quarter-percent change in mortgage rates can add tens of thousands of dollars to the lifetime cost of a person's pending home loan.
The Fed's press release hits the wires at 2:15 PM ET Wednesday. If you're the cautious type, consider locking your mortgage rate prior to its release.
If you don't have a loan or a lender, but do have a Salt Lake home you want to buy go to our website, click on Salt Lake Home Loans and have them get to work on financing your new Salt Lake City Home.
If your buying a home in Salt Lake City then you need to check your Mortgage rate daily.
Maybe even hourly.
Mortgage rates are suffering through another volatile week, causing problems for Salt Lake home buyers.
Problems of higher house payments obviously, but also real concerns about qualifying.
It doesn't take much of an uptick in rates to cause that house you have your heart set on to become out of reach.
After falling Monday and Tuesday, mortgage rates surged Wednesday and Thursday. The momentum higher appears to be carrying into the weekend, too.
There are several data-related reasons for the mortgage market's spastic activity this week:
- Unemployment claims fell
- Leading Economic Indicators rose
- Inflation readings are tame
But while each of the data points above fueled mortgage rate volatility, it's not the data that's making markets move the most. It's the psychological impact of the data.
See, data tells us about the past. It measures and reports on what's already happened. Unfortunately for rate shoppers, mortgage markets are not made on data from the past -- they're made on the expectations of what will happen next.
Mortgage rates reflect Wall Street's opinion of the future.
In reading the papers and watching the news, you'll notice ongoing debate about the U.S. economy. It's unclear whether the recession is worsening or improving.
On one hand, data is weak and sub-optimal. On the other hand, the data is not nearly as weak as it was 6 months ago and, in some cases, it's strong. To some, this is a signal that a recovery is already underway.
Or, it may just be a blip.
We can't be certain in which direction the economy is headed and the same can be said for mortgage rates. Because sentiment is changing so often, though, it forces us to be on our toes.
The last few months have been marked by large mortgage rate swings across small windows of time. A rate that's offered in the morning, for example, is rarely available in the afternoon. Therefore, do your rate shopping in a compressed period of time and be ready to lock at a moment's notice.
When markets move, they tend to move quickly.
No matter whether you are looking at homes for sale In Herriman UT, or a condominium to buy in West Jordan you should be talking to a lender that you trust and that is experienced in Salt Lake Real Estate loans.
Maybe you have a lender you're happy with, great. Ask him/her when the best time would be for you to lock in a payment on that house or condo you are buying.
If you need to talk to a Utah lender and would like a recommendation, stop by our website, click SLC Lenders and then call one of these loan officers. Their all professional, know the business and have helped us provide Real Estate loan for many of our clients.
To begin the search process you can access thousands of Salt Lake Homes for sale using the privacy of the Internet @ Salt Lake Homes Listings. it's FREE and it's fun.
Or you can call us direct @ 801-567-0946 and if your buying a home in Salt Lake we'll show you how to check the mortgage rate.
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