Unfortunately, Realty Trac reports that the Notice of Defaults for Utah returned to their July high with 889 filings, 3 filings shy of July's 892 filings.  Given the lending environment, trends in other states, and this increase in NODs, it is looking like the Salt Lake market could be at least 9-12 months from prices bottoming out.  As a seller, pricing right in order to avoid chasing the market is key.  As a buyer, take your time and get signed up for automatic emails so you can track the market.  By filling out this form , you can get customized automatic emails of the type of home you want.  Some of the most popular searches are REOs and Short Sales .  This means the system will autmatically send you all the REOs and Short Sales in your price and and in the neighborhood you would like.   This easy way to track the market will have you on top of the best deals when the come on the market.