Herriman, UT

The city of Herriman sold 47 more homes last quarter than they did during the second quarter of 2008, selling more than any other city in the county. Median and average sold price both decreased from the lower 300's to the upper 200's. Herriman Real Estate has the lowest inventory in the county at about 5 months. With 275 active listings, homes should continue to sell at a decent rate.

The Herriman Utah homes for sale report for Salt Lake on 7/01/09 shows 7551 homes or condos listed in Salt Lake County. Fifteen hundred seventy six (20.8%) of these homes are condominiums. Herriman Utah homes make up only 3% of that number, with 291 single family homes for sale. 16 of those are condominiums (5.4% ).

The information contained in this Herriman Real Estate Market Analysis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.

While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.

This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.

Likewise New Homes, (new construction).

Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Daybreak community in South Jordan and Rosecrest in Herriman UT. Both of these communities have an extensive model home presence.

Keep in mind that unless you take your own agent to view the Models, you have no representation. You should.

It's FREE!!! Read how to shop for a new home.

Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to Herriman UT or any other town in Salt Lake County, we hope you will find this report helpful. and the Real Estate information timely.

Homes for sale in Herriman UT:

There are 291 homes for sale in Herriman Utah, as of 01/07/09
Only 5%, or 16 of these are Condominiums.
Single family detached homes for sale in Salt lake County number 5975.
Condominiums for sale make up 20.8% of the homes for sale in SLC, 1578.

Herriman Homes activity last thirty days:

In the last thirty days,63 new home listings have been added to homes for sale in Herriman UT.
Only one of these was a condo. Herriman has very few condominiums for sale.598 Herriman homes were sold and closed in that same time frame.
62 new contracts were written by Salt Lake Realtors. Fiveof these were Herriman UT Condominiums.

Herriman Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:

The total number of distressed homes listed on the MLS in Herriman Utah is 88.That's a little over over 30% of the total homes listed.
Thirty of these homes/condos have been added within the last 30 days to home listings in Herriman UT.
212 of these homes (foreclosed homes and pre foreclosures in Herriman) have sold in the first half of the year.
Fifty nine distressed properties were placed under contract last month.IE: Bank Owned, Short Sale, HUD Home, or offer that requires 3rd party approval.

About Herriman homes for sale:

Active homes listed for sale in Herriman range in price from $134,900 to $1,500,000 dollars.
The average price of Herriman listings is $326,000.
The average contract written on a house in Herriman is $275,000.
Herriman houses closed (on average), selling for $302,000.
The average days on the market for homes in Herriman is 189.
Seventy seven % of the homes listed for sale in Herriman Utah are priced between $150 and $400,000 dollars.

We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for South Jordan and West Jordan on this same site.

To have a look at the 7550 homes for sale in Salt Lake, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.

To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment in Herriman or a house to look at, you can find it there. And it's FREE.

Thanks for being here and thanks for reading the Herriman Utah Homes For Sale- Salt Lake 7/01/09.

Published Monday, July 06, 2009 1:13 PM by Corie Seymour

When it comes time to sell your home, one big decision needs to be made. Can I sell my home by myself or should I use a Realtor? Everybody wants to make as much money as they can when it comes time to sell their home, but it is necessary to maintain realistic expectations if there is to be a successful sale transaction. The For Sale by Owner option is often perceived to be best way to make the highest profit when selling a home. In theory, that makes a lot of sense, but there are so many variables that the results usually come out the opposite. In fact, statistics from the National Association of Realtors report that only 16 % of those who listed their home For Sale by Owner, were successful in selling their home. The main drawbacks can be divided into two main categories, Buyer Perception and Seller Frustration.

Buyer Perception

Buyers often have a negative perception of a seller who is selling on their own. Some see the refusal to hire a Realtor, as cheap, and they begin to wonder how far that cheap goes. They wonder if maybe the Seller even cuts corners in maintenance, repairs, or upgrades. They think the Seller is going to be hard to work with when it comes time to negotiate terms.

Seller Frustration

There really is a lot of work involved in selling your house on your own. You have to field all the phone calls yourself and conduct all the showings. Unless you have a very flexible schedule, you will lose potential buyers simply because you are unable to accommodate their schedules. Sellers are often frustrated by the low offers they receive, but buyers realize you are not paying any commission and therefore have more room to negotiate. They want to save money too, and expect you to understand. Most frustrating to Sellers is organizing the closing and understanding the paperwork.

Does this mean that you should not ever list FSBO? There is always the chance that your house is the exact property that a buyer is looking for so they throw a sign in the yard for a few weeks and see what happens. If you have not sold by then, call a Realtor to guide and protect you, and help you through the process.

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We need Positive Price Action to confirm market bottom. One month of price improve isn't sufficient to confirm the market bottom. We need to see appreciation month over month for three months.

PRICE ACTION

Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.

SUMMARY

Currently we are not seeing the needed positive price action (along with other indicators) to confirm a market bottom. This is NOT a good time for those with low and/or no risk tolerance to purchase.

High and medium risk tolerant investors are making buying decisions and are doing some bottom fishing.

Some are trying to time the market and market timing is risky. Trying to time the bottom is not for the inexperienced buyer and extremely difficult.

Those waiting for a market bottom confirmation will (almost always) miss the bottom. This is because confirming factors are lagging indicators.

Buy and hold is the best buying strategy.

Data considered accurate... However is NOT Guaranteed. Contact your Mark Watterson your Local Property Resource Specialist for the most up-to-date data and help to determine your specific risk tolerance.

_______________________________________________________________________________________________________________________________________

Mark Watterson is a Utah licensed Real Estate Broker with Principle Realty Group, Inc. and a Utah license Loan Officer with Springwater Capital, LLC

Contact Mark Watterson your Local Property Resource Specialist for the most up-to-date market conditions data for Salt Lake, Davis, Utah and Weber Counties. View comprehensive property resource information at www.markwatterson.com

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The "Voice of the Customer" is where it all begins. Customer Service Excellence is not just words. It's our CULTURE.

My customers refer their family and friends because of the exceptional attention to detail, customer focus and the value added services they receive. An unmatched passion and love for providing these services is the thread that binds the entire business process together making it a smooth and seamless event.

In fact it doesn't even seem like business. Because it's all about you, your goals and objectives.

You should expect the highest level of service and you deserve it. It's about you, the right property and your GOALS. YOU Deserve the BEST!

Herriman homes saw the largest increase in number of homes sold in the valley. Median sold price decreased by 4.5% and average sold price decreased by 7.5%. With 335 homes on the market, the inventory is at 9.95 months. Homes in Herriman will continue to sell but prices may have to continue the decline.