How Many Salt Lake Homes For Sale are Short Sales/Foreclosures ?
There is so much talk about Short Sales, Bank Owned Homes, HUD Homes, REOs, ETC: that someone looking for a new home or condominium to buy thinks they must search for a Foreclosure or a Pre Foreclosed home If they want to buy a home in Salt Lake City.
Every day, headlines scream at us FORECLOSURES THREATON RECOVERY, or SIX IN TEN HOMEOWNERS FACE FORECLOSURE. Or my favorite, BUY A FORECLOSED HOME FOR PENNEY'S ON THE DOLLAR.
How about a recent one I heard REPLENISH YOUR MISSING 401K PLAN BY BUYING SHORT SALES.
Maybe in some parts of the country some of this is true, but in Salt Lake City Utah, not so much.
Yes, there are places along the Wasatch Front that could use some help, but nowhere are we approaching the 5 of 10 houses being in foreclosure that we have seen predicted.
Even in Salt Lake you can find a wide discrepancy between towns.
You will find a difference between the percentage of distressed mortgages, or homes, or home owners, however you want to characterize them between the various areas and neighborhoods that make up the Salt Lake Real Estate market.
The percentage of Homes and Condominiums that are listed For Sale as either Foreclosure, or Pre-Foreclosure in Salt Lake City however is growing, and according to some national companies that track this sort of thing could reach a point where 50% of all homes for sale will be under duress.
We have analyzed various areas in SLC and have put together a list of Salt Lake Homes for Sale that are listed on MLS as either "Short Sale", HUD Home, REO, Bank Owned Home, Corporate Owned, Home Steps, or Foreclosed Homes.
You can do your own tracking and make your own Real Estate decisions.
The neighborhoods are listed according to the percentage of listed homes that fall into the category of distressed homes for sale. The Salt Lake Area with the highest percentage is first.
The list does not include Homes that are For Sale By Owner (FSBOs) or in most cases New Homes For Sale (New Construction) as generally these are not Homes or Condos listed on the MLS.
Homes For Sale In Entire Salt Lake County:
There are 6727 homes/condos listed.
1084 of these are Foreclosures or Pre-Foreclosures.
Sixteen percent of homes listed are homes headed towards foreclosure or Foreclosed Homes.
Herriman Utah Homes For Sale:
288 Homes are listed for sale in Herriman Utah.
98 of these homes are Foreclosed Homes or Pre-Foreclosed Homes In Herriman.
That's 34% of all Herriman Houses For Sale.
Bluffdale Utah Homes For Sale:
There are 57 Homes For Sale in Bluffdale UT.
15 Bluffdale homes are, Short Sales, or Foreclosures.
Thats about 26% of the Homes for Sale in Bluffdale UT.
South Jordan Homes For Sale:
There are 467 listings on the MLS for homes for sale in South Jordan.
104 of those homes/condos are short sales or Bank Foreclosures in S.Jordan.
That's 22% of the available houses in South Jordan.
West Jordan Homes For Sale:
There are 688 homes/Condominiums for sale in West Jordan.
150 of these West Jordan Homes faces foreclosure or is already a Foreclosed Home.
That means that almost 22% of West Jordan homes listed for sale have problems.
Riverton Utah Homes For Sale:
257 Homes are listed for sale in Riverton Utah.
54 of those Riverton Homes are distressed.
That's about 21% of the Riverton UT Houses.
West Valley City UT Homes For Sale:
West Valley City has 464 Homes For Sale.
94 of those homes in West Valley City are Short Sales, Bank Owned, HUD Homes, REOs, ETC:
20.2% of all Homes listed For Sale in West Valley are distressed.
Draper Utah Homes For Sale:
Total Homes listed for sale in Draper UT number 508.
102 of those Draper Homes are Short sales or Foreclosed Homes.
20% of the homes in Draper Utah need bank approval.
Taylorsville Utah Homes For Sale:
There are 207 homes for sale in Taylorsville UT.
38 are distressed houses or condos in Taylorsville UT.
18% of Homes for Sale in this part of Salt Lake are Foreclosures or Short Sales.
Murray Utah Homes For Sale:
Murray UT has 193 Homes/Condominiums For Sale.
28 units, either homes or condominiums are Short Sales, HUD HOMES, Bank Owned Homes, REOs, Corporate Owned Homes, Home Steps, or homes or Condos that need third party approval.
Murray UT Foreclosed Homes or Pre-Foreclosures make up 14.5% of the available Murray Houses for Sale.
Cottonwood Heights Homes For Sale:
186 Homes are for sale in the Cottonwood Heights area of Salt Lake City.
26 of the homes in Cottonwood Heights homes are either Short Sales or Foreclosed Homes.
That's almost 14% of all the homes and condos in Cottonwood Heights.
Homes For Sale In Sandy Utah:
There are 739 houses listed for sale in Sandy UT.
95 of those are either short sales or Foreclosed Homes.
That number is less than 13% of the Sandy UT homes for sale.
Magna UT Homes For Sale:
There are 101 homes listed for sale in Magna Utah.
14 Magna homes listed are distressed.
That would be about 13.8% of all Magna homes for sale
Homes For Sale In Salt Lake City:
There are 1958 listings in SLC proper.
Two hundred seventeen Salt Lake homes for sale are distressed.
That is only 11% of all of the Condominiums and Homes for sale in SLC.
Midvale UT Homes For Sale:
One hundred sixty one homes/Condominiums are for sale in Midvale Utah.
Only 14 are Bank Owned or Short Sales in Midvale UT.
Midvale only has 8.6% distressed Homes or Condos For Sale.
Holladay Utah Homes For Sale :
248 Holladay Utah Homes/Condos are listed.
Only 16 are short sale or bank owned homes in Holladay.
Distressed Homes in Holladay Utah are less than 7%. of homes listed.
There is the list. Make of it what you want.
Use it to help structure an offer, show your Realtor that you know whats going on, or evaluate how to price your home.
For more Real Estate tips, stop by our website @ Salt lake Real Estate, click on our blog or look for recommendations about who to contact for pre qualification.
Or if you just want to search for some of these Foreclosures, Short Sales or regular Salt Lake Homes For Sale go to SLC Listings. You can see prices, maps, features, and photos of over 8000 homes for sale in the Salt Lake Valley.
Or just call us @ 801-567-0946, We'd love to talk about how many of those Salt Lake Homes For Sale Are Short Sales or Foreclosures.
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