SALT LAKE REAL ESTATE-SALT LAKE COUNTY BANK OWNED PROPERTY
CURRENT BANK OWNED HOMES ACTIVITY REPORT
Current Market Conditions in Salt Lake County Bank Owned Homes . This report was completed as information for our Real Estate Investors who are buying Bank Owned Homes in Salt Lake County. The Bank Owned Market in Salt Lake City has been very active in the first 3 weeks of January. As of today January 27th 2011. In Salt Lake County we have seen nearly 100 new Bank Owned listings that have been listed as active on the WFRMLS. In Salt Lake County we have seen 73 Bank Owned Homes go under contract since Jan. 1st 2011. This compares with 643 total Homes that are Under Contract. 12% of the single family homes that are for sale and placed under contract have been Bank Owned or REO properties. So far this year in Salt Lake County we have had 462 Homes that have sold. Real Estate Agents in Salt Lake County have sold 462 single family homes or condos since January 1st 2011. The percentage of Bank Owned Homes sold is nearly 22%. What all the numbers tell me as compared to last month is that Salt Lake Homes prices have leveled out. The Rest of the Salt lake Real Estate market has been adjusted enough that owner occupied homes are now competing with the rock bottom Bank Owned prices that have been so appealing to many home buyer's. We still have plenty of opportunity in Real Estate Investing, for first time Home buyer's and primary residence . Fannie Mae, Freddie Mac, and HUD homes prefer to sell their homes to owner occupants and have a 15 day first look period where Real Estate Investors are not allowed to purchase the homes. We are excited about the level of activity seen in Salt Lake City so far this year.
23 TOTAL BANK OWNED PROPERTY TRANSACTIONS FOR DRAPER AND SANDY UTAH HAVE BEEN NEGOTIATED SO FAR THIS YEAR BY A LICENSED REALTOR OR BROKER
Holladay and the Cottonwood area has had 19 Bank Owned Properties either Listed, placed Under Contract or Sold.
Salt Lake City Bank Owned homes have been a hot buy as we have had 47 new listings or Homes that have sold since January 1st 2011.
SOUTH JORDAN, WEST JORDAN, Herriman, Riverton and Bluffdale Bank Owned properties for sale or sold in the last 30 days total 70 transactions.