We seem to be getting a lot of facts about Herriman Foreclosures in Salt Lake these days.
Maybe I should say opinions.
Every one has an opinion about homes for sale in Herriman Utah. Sort of an off the cuff remark designed to shock, or support the notion that all is not well in the Utah housing market. Sad to say, I'm guilty of that myself.
More than once this last week I have pointed to the Real Estate activity there and began to awfulize the outlook for home-sellers in that area. I think I even called it foreclosure Mecca.
Well it sure isn't Utopia in this south end of the SL Valley, but there are a bunch of places around the country and a lot of Realtors in the US of A that wish they were in the shape were in.
So I put together some facts about Foreclosed homes in Herriman. Now you can decide whats true and whats not. And how it will impact your Real Estate decisions.
FACTS ABOUT HERRIMAN HOME FORECLOSURES:
- As of 1/10/09 There are 387 Homes listed for sale in Herriman Ut.
- 140 of those are "distressed properties" IE: Short Sales, Bank Owned, Foreclosed Home.
- That's 36% of the homes available for sale.
- Only 33 of these homes are Bank Owned Homes or Foreclosed Homes.
- That means only 25% of distressed properties in Herriman are Foreclosure Homes.
- Less than 10% (8.5%) of all home listings are Bank Owned or Foreclosures.
- 75% of listings that are distressed are "Short Sales", w/chance for redemption.
- Prices range from $249,900 in Rose Creek to $564,000 in The Cove @ Herriman Springs.
- Median price of a Bank Owned Home in Herriman is $358,000. (less than we thought)
- Only 5 of the 33 foreclosures are listed under $300,000.
- Twelve, (36%) are listed for between $350 & $ 400,000. (lower than we thought)
- All foreclosures listed are under 10 years old.
- 29 of these REOs are less than 5 years old.
Average listed price of a short sale in Herriman is much greater than that of an REO, or Bank Owned Home or a Foreclosed Home In Herriman Utah.
So what do you make of the facts?
Surprised ?
I was. And further as I scanned through the inventory of homes for sale to put together this report I recognized some wonderful buying opportunities.
If you are in my system your going to hear about them over the next few days. If your not, stay close to this blog we found some repos worth taking a look at.
If you'd like to see Herriman Foreclosures ( or all foreclosed homes in SLC) on your screen, visit our page of Foreclosed Homes. We update daily, and it's FREE for our clients..... Enjoy.
If you'd like to talk with one of us about Utah Real Estate, or Salt Lake Homes for Sale, give us a call @ 801-567-0946.
We'd love to talk Facts about Herriman Foreclosures In Salt Lake.
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