Of the 271 Condominiums and Homes for sale in Tooele, only 4.0% (11) are short sales or are facing foreclosure.

Thats a fantastic statistic when you look at some of the other areas of the country, where as much as 40% of the standing inventory of homes for sale can be characterised as distressed.

The Wasatch Front MLS gathers these numbers from home listings Realtors have entered into the system. They Identify a property as being either a Foreclosure, Bank Owned, a HUD Home, Short Sale, or a home that requires approval of a third party before it can be sold or purchased.

New homes/condominiums, (new construction) offered by builders that are sold from model homes, or subdivision sites, with their own Real Estate Agent representing them are not included in this report. Neither are homes for sale by owners (FSBOs) as they are generally not listed.

Short sales can have value for all parties in the Real Estate transaction. The owners get out of a mess without totally destroying their credit. On a short sale new IRS regs allow the debt relief to be a non taxable event, and in Utah the deficiency consequence of selling your house for less than you owe goes away.

Banks or mortgage holders are agreeable, as foreclosures are time consuming, costly, and leave homes vulnerable to vandalism, further value deterioration, theft, insurance liability and a host of other problems.

Best of all, Home buyers, whether they are families moving up, or Real Estate Investors can purchase new and previously owned homes for considerable savings.

The following examines some areas of interest you might have when looking for  short sales or Bank Owned Homes for sale in Tooele.

Total Inventory of Tooele Homes for sale:
          As of 4/26/08, there was 240 single family homes & 31 condominiums for sale in Tooele.
          Tooele has a for sale housing inventory of almost 11% condos.

Tooele Short Sales, or Bank owned Homes:
          Eleven of the single family homes, can be considered as distressed property.
          No Condos fall into this catagory.

Thirty day trend for Short Sales,  Bank Owned & Foreclosures in Tooele:
          In the last 30 days 8 homes or condominiums have been added to Tooele homes for sale.
          Contracts have been signed by 3 home buyers. Ratified by lenders.
          Two distressed houses have closed in Tooele in the last 30 days.

Commentary:
          Real Estate Investors and home buyers should look beyond distressed properties  when evaluating investement opportunities inTooele. Lifestyle, and future growth in the manufacturing and business sector will continue to fuel an orderly appreciation trend, unless city government continues to work at cross purposes with growth.

Buying a short sale home, or a foreclosed property isn't difficult, but it takes preparation, and an experienced Realtor.

If you have a Realtor, put them to work TODAY!!!

If you don't have a Realtor, we'd like you to check us out. Go to our web site Tooele Real Estate and see how serious we are about this business.

If you want to start looking for your next Tooele home among the 271 houses available, just click on the website pages that provide all the listings, Tooele homes. It's FREE, updated daily and lets you see pictures , addresses, prices, and necessary information. Or just give us a call @ 435-840-5029

Remember, there are 271 Tooele Homes for sale,11 are short sales waiting for you to take advantage of the market.