Corie Seymour Salt Lake Real Estate

A South Jordan Home is for Sale for It's an REO -$378,000.

That's over $100,000 less than it was originally listed for. IT'S OWNED BY THE BANK !!!

If you're an Investor, a family that has been asked to relocate to Salt Lake or someone that wants to take advantage of the most dynamic buyers market in the last 12 years, you need to see this home in Lucas Dell.

You need to see this neighborhood in S. Jordan. You need to see the quality of construction and the quality and care of the mature landscaping. The hard parts been done...., by the Bank. They have cleared the liens, foreclosed any secondary mortgages, and cleared the title. They are ready to deal.

They own this house, and THEY DON"T WANT TO!!!

If you like this home, make an offer. You'll get a response (unlike your short sale experience). You'll get a price or a counter offer. You won't be ignored!

Many short sales have run their course in the Salt Lake Valley. Banks have no option, short sales have not solved the mortgage crisis (partly because of the cavalier attitudes of some lenders) and we are approaching the time when banks will own more homes than new home builders do.

Once again if your in the market to buy a home in Salt Lake, now is the time.

With that in mind, you should know that each week we will blog about specific REO houses in the valley(Real Estate Owned), and will e-mail our clients lists of foreclosed houses that banks need to unload.

This week, you can look up a number of Bank Owned Homes for Under $400,000. The MLS numbers this week are; #799634, 814725, 792998, 813107, 812220, 819428. Just go to Salt Lake Homes, enter the numbers, and see some pretty impressive houses you might like to view.

If you would like to go further, give us a call. One of our folks would love to help. Were at 801-567-0946. WE KNOW YOU CAN FIND A SOUTH JORDAN HOME FOR SALE, an REO -FROM THE BANK!

Price Reduced on this Taylorsville UT, Bank Owned Home in Kingsgate, Taylorsville - Announcing a price reduction on 3867 W Burgess Rd, a 1,870 sq. ft., 2 bath, 3 bdrm 3-level split. Now MLS® $164,900 -

Not a short sale. Owned by the Bank. No more long waits. Make an offer, get an answer.

To schedule showing, call us at 567-0946. One of our agents would love to help.

Home was $189,900

INVESTORS: : Fix it up ! Rent it out ! Flip it !

FIRST TIME HOME BUYERS: Fix it up ! Paint it ! Raise your kids here!

Property information

Sandy Ut, has 72 Bank Owned Homes for sale or in the process of being acquired by the bank as of 8/18/08. That's only 2 more houses on this list than last month.

There is quite a bit of interest in short sales, foreclosures, HUD Homes information. Real Estate Investors, and those folks looking to improve their housing situation during this period of falling housing prices and home values are looking at trends in the market to help make buying a home in Utah an easier decission.

Since we want to be the source you turn to when you have a Question about buying a home, we continue to evaluate the housing market and supply statistics from around the Salt Lake Valley.

We are providing for our clients today, a comparison to last month, of the homes in Sandy Ut, that would be considered distressed properties.IE: HUD Homes, Bank Owned, REOs, Short Sales and Foreclosed Homes.

In addition, we will compare those listed homes by number with the available inventory in Salt Lake County.

Salt Lake County:
Of the 8611 homes in Salt Lake listed for sale, less than 10% (855) are Bank Owned, HUD Homes or Pre-foreclosure properties.

Sandy Utah:
As of today 8/18/08 there are 871 homes listed on the MLS in Sandy City.
That represents just a bit over 10% of the total homes listed in the entire County of Salt Lake.
Seventy two of these listings are considered to be distressed.
That is 8% of the total number of Homes/Condos for sale in Sandy.
Sandy contributes less than 1% of Bank Owned in the County.
Listing in the city increased by 30 single family units over last month
Fourteen of these new listings were Short Sales or Bank Owned..
Bank Owned Homes/Condominiums for sale increased only 2 houses.

Conclusions:
Based on the number of listings increased this month from last,and the small amount of distressed property being closed monthly, we would suggest that home buying opportunities exist in Sandy City. Further, we believe that the advantage to buyers will continue for Real Estate investors and move up families for some time. If you are relocating to Utah, it couldn't be at a better time to buy a house.

For a list that includes pictures, maps, prices, and important information about Homes for sale in Salt Lake County. check out SLC Homes to buy. To talk to a real person, give us a call @ 801-567-0946. We'd love to be your favorite Realtor.

We can talk about houses, town-homes, condos, Financing, Real Estate trends, and of coarse Sandy UT Bank Owned Homes For Sale- 8/18/08.

This report on Salt Lake Short Sales and Bank Owned Homes on August 17th, of 08 is a response to the flood of response we have gotten from last weeks article that named Utah as ranking number 9 in the U.S in the area of home foreclosures.

Since Real Estate is local, and it seems like being a smart home buyer or condo seller depends a large part on our ability to anticipate trends, we are going to present you with a snapshot of whats been happening in Salt Lake County over the last 35 days.

Salt Lake County Homes For Sale:
On 7/12/08 The number of homes for sale in Salt Lake County was 8566.
Thirty five days later, that number increased to 8611.
The increase of 45 homes represented about one half of one per-cent of all of the homes listed on the Wasatch Front MLS.

Short Sales-Bank Owned Homes for Sale:
Last month 731 S L County homes were listed for sale as either pre-foreclosure homes or REOs.
That represented 8.5% of all the homes listed for sale.
This month, 855 houses are characterized on the MLS as distressed properties.
This increase of 124 homes was about 1.5% in the last 35 days.

HUD HOMES-Short Sales and Bank Owned Homes Sold:
In the last 35 days, seventy distressed houses have been sold in Salt Lake County.
That's about 9% of the available housing inventory, either single family homes, town-homes or condominiums in Salt Lake County.
To maintain that trend, agents will need to sell between 80 and 85 homes this month.

This information does not include those homes for sale by owner (FSBOs) nor many of the New Homes owned by contractors as they sometimes don't list houses but rely on local Realtors to provide buyers for in house sales.

Based on these stats, it's safe to say that the trend is definitely headed in the direction of more problem properties being available on the MLS.

That also means buying opportunities for Investors, transferees, families relocating to Utah, and folks that are in a position to move up.

To see all of the 8500+ homes for sale in Salt Lake County, stop by our web-site @ S.L.Homes for sale. You'll see pictures , prices, maps, and information helpful in your home search.

Or you can call us @ 801-567-0946 for any Real Estate related questions or to discuss our report on Salt Lake Short Sales and Bank Owned Homes For Sale.

Based on Dan Levey's article in the Salt Lake Tribune today, It looks like the sky is falling on Salt Lake Real Estate Home Foreclosures

According to the article from bloombergs, Utah climbed a rung on the foreclosure ladder from number 10 that was reported last month to number 9 for July.That means that only 8 States had more homes in foreclosures last month than Utah.

Since the majority of the homes, and population are centered around the Salt Lake Metro Area, It stands to reason that the Sky is falling on homes for sale in Salt Lake. (forty four per cent of the States population live in homes in towns surrounding SLC.)

Last month (July), Leslie Mitchell wrote that in June, one of every 600 Utah home owners were in danger of losing their home or condominium.

Dan Levy reported today in his article "foreclosures, bank seizures rise sharply" that there was one foreclosure filing for every 472 homes in Utah.

It's hard to fathom, and very sad if you are in this business; sadder yet if you are one of the folks facing the loss of the family home.

Let me share these numbers and this information with you.

UTAH FORECLOSURES 2008

Notice of defaults filed: 892

Notice of trustee sale: 687

Bank Owned, REOs: 332

Total In Process: 1911

So we have over 1900 Utah home owners that have been foreclosed on or are in the process of trying to save the family home.

Using the 44% number, that means that there are over 800 homes in Salt Lake that are already owned by the Bank, (146) or a house or condo that has the clock ticking (288).

Now that I believe, what does that mean. What can I tell you that might help you navigate these troubled waters.?

Well, If your an Investor the advise is easy. Those 146 Bank Owned homes represent a real home buying opportunity. Contact a good Realtor; one that knows Real Estate in the area you are interested in, one that is knowledgeable about the mechanics of buying REOs, and working with Banks. Lay out your parameters, share your goals and expectations, get your agent working for you.

You arrange your money, so that a quick closing will be a critical part of any offer. Once you've selected some possibilities, set aside time to visit houses or condos. You may need to put yourself on full speed for a couple of weeks. Timing can be critical.

If your on the other end of this deal. If you are facing foreclosure, I'm sorry. But keep in mind, the only one with any where near the interest you have in this house is the lender. You must talk to the first mortgage holder as soon as it looks like you could have problems. Talk to them in a businesslike, truthful and problem solving manner. You can suggest re-casting the debt, refinancing, selling the home as a short sale. Show the lender you want to solve the problem and will do whatever makes sense (for your family as well as the lien holder). The Bank does not want to own that house.!!!!!

Don't lose your home. Here are more tips on ways to avoid default and foreclosure prevention.

To see distressed properties in the Salt Lake area, stop by our web-site @ Bank Owned Homes and see over 300 foreclosed, REO, or short sale homes for sale in SLC.

If your looking for advise on short sales, check out our site, Salt Lake Real Estate. You'll find articles, blog topics, information on pre foreclosure techniques and in general a complete resource of home selling information.

Or call us at 801-567-0946 If you just want to talk to someone about the falling sky's and Home foreclosure in Salt Lake City Utah.

Over the next few days, check your inbox, you'll find your Home Club survival kit and E- Alert with new Real Estate Information for Salt Lake City Home Buyers. Watch out for it.

It's part of our commitment to provide our Salt Lake Real Estate clients, helpful, timely home buying and home selling resources in the area.

The new schedule for delivery of the E- Alert is now every other Tuesday. That means that every 2 weeks we'll deliver to your inbox, current Real Estate Items of Interest and late breaking articles (w/in the last 36 hours) that may be helpful in buying a new home or selling your condominium.

This week, mortgage professionals, write about the mortgage crisis and what the government is trying to do about it. Other pros deal with late breaking news that could effect your Real Estate decisions

We've contributed a piece about Short Sales and Bank Owned Homes, in the South end of the Salt Lake Valley, IE: Draper, Herriman, Riverton, and South Jordan.

The real value of the "Home Club" though is in the Home Plate Portal.

From there you can access over 1000 pages of Real Estate and home management tips and trends. Some of the information you'll find...

Mortgage Finances and Real Estate Taxes for Home buyers.

Home and Neighborhood safety.

Home Sales.

Community Statistics for home buyers

Home Buyers School Information.

Need Videos? Check out your Home Club Library. Over 100 home repair and home improvement videos to help you maintain your homes value and manage your families most valued asset after you buy.

So, If you don't get yours or delete by mistake, either call me at 801-567-0946 or visit my website and click on Salt Lake Real Estate. Scroll down the home page and punch the YOUR HOME CLUB Icon and re register.

You'll be glad you did. There is a ton of New Real Estate Information for Salt Lake City Home Buyers.

This "First Time Home Buyers Tax Credit" plan can give some Salt Lake Home Buyers some real POP. If your a first time home buyer. Now I don't begin to understand what it all means, and even if I did I'd probably refer you to a Real Estate Tax person or suggest some articles written by professionals.

The least I would do is make available places you could go to look online and determine if this new program had anything to offer you as you looked at buying a new home in SLC.

So here goes..... Here's what I know (I Think)

1. Only homes purchased after April 9, 2008 are eligible.
2. Home purchase must be "Owner Occupied".
3. Must be Home Buyers first home purchased.
4. Single home buyers must have incomes of $75,000 or less.
5. Married home buyers cant make over $150,000 and qualify.
6. Maximum tax credit is $7500. dollars.
7. Tax credit is paid back over 15 years or when the home sells.

For the more professional overview click on the following sites...

National Association of Home Builders site: http://www.federalhousingtaxcredit.com/

Just a guy I found on the Internet: http://catawbavalleyrealestateblog.wordpress.com/2008/08/06/quick-facts-about-the-7500-homebuyer-tax-credit/

Now that we have the tax credit stuff out of the way, and know what were doing your next step should be to start looking at homes in the Salt Lake area.

The best and most efficient way to do that is to log on to Salt Lake Homes and look at homes in the area you want to live in and in the price range you can afford. You'll find all of those things on the site. Pictures, Prices, Maps, Directions; Everything to get you started.

If you know what you want to spend per month you can even find a calculator that figures house payments.

If you want to start in the next 5 minutes, give us a call at 801-567-0946. (just kidding).

Just think it all started with a look at the First Time Home Buyers Tax Credit.

Filed under: Salt lake Homes For Sale, Salt Lake mortgage Information

If I were you and I was looking to buy a New Home, I'd make my own Salt Lake Parade of Homes for Sale.

Even though the Salt Lake Home Builders have gone to a lot of effort and expense to show their talents, and philosophy of home building by sponsoring this years Salt Lake Parade of Homes. I'd say "thanks, but no thanks"

This is not the year for me to go window shopping for anything I can't afford to buy.

With the price of gas being what it is. The homes as spread out as they are, and the number of homes in my price range being minimal, I'll pass on the Parade of Homes. I think I'd schedule my own tour.

In 30 minutes I could put together a parade of 10 to 20 homes for sale, in my price range, in the neighborhoods my family wants to live in, within 10 miles of each other. .......Actually, I'd have my Realtor do it.

There are hundreds of new homes for sale in the South end of the Salt Lake Valley. In Draper, Bluffdale, Herriman, Riverton and South Jordan, you'll find a ton of beautiful homes looking for owners. Many of them are brand new homes, never been lived in. Many more are 2, 3, and 4 years old. The landscaping is just maturing, and fencing is bought and payed for.

Quite a few of these homes are distressed properties. Homes for sale who's owners are having trouble making the payment. Some of these homes or condominiums can be purchased from the owners for what is owed. If the home was owned for 3 or 4 years and the owner didn't refinance, you might pick up some equity.

Maybe the owner has waited too long or owes more than the home is worth. You might have a "Short Sale" opportunity, where the bank, rather than go thru a costly foreclosure, will allow the home owner to sell the house or condo for "Short" of whats owed on it.

New Home Builders have felt the crunch as well, and brand new homes are being sold at cost and below. Banks are making Short Sales an option for some of Salt Lakes more dynamic builders.

Then of course there are those homes and condos for sale by the banks themselves. Bank Owned or REOs as they are called (Real Estate Owned) have either been thru foreclosure or the bank has the deed back and needs to get it to someone else. There are some great opportunities here. Opportunities for Investors and families that have good credit or cash and can move quickly.

In the South Salt Lake Valley, (Draper, Bluffdale, Riverton, Herriman, So. Jordan) there are 307 Bank Owned, REOs, Short Sales or HUD Homes for sale.

To see any or all of them, and to start planning your own parade, stop by our web-site @ Salt Lake Homes and you'll get pictures, prices, addresses, maps and most of the information Realtors use to help you look for houses.

If you want us to schedule your parade, give us a call @ 801-567-0946. Or visit us at Salt Lake Real Estate and tell us how we can help you make your own Salt Lake Parade of Homes for Sale.

There are 2296 homes for sale in Salt Lake that are listed for over $400,000 dollars.

The reason I bring this up is because in the Lesley Mitchell article in the Salt Lake Tribune this Friday the point was made that the "downturn is most pronounced in the market of homes for sale for above $400,000".

In Salt Lake then Homes for Sale over $400,000 are a "big problem".

In other words, according to the article, we have 2296 problems in Salt Lake County.

I say, "not exactly" or "not yet".

One way to measure the depth of our problem is to see how many of these homes are listed as problem properties (distressed ) IE: Bank Owned, REOs, Foreclosures, HUD homes, Short Sales or homes that require third party approval before a home sale can be made.

So how deep is our Real Estate problem in Salt Lake as of today 8/08/08 ????

Of the 2296 homes listed for sale (over $400,000) in the Wasatch Front MLS, only 238 are listed as "distressed". That's just a tad over 10% of all the single family homes listed for sale.

Ten % is a lot, but it's not like the 30 and 40% we hear about in parts of Arizona, and California.

Keep in mind that these numbers do not include homes for sale by owner (FSBO) or New Construction homes that do not appear on the MLS until the bank becomes involved with the builder and requires that the new home builder involve a Realtor in any Short Sale process.

The point here is that, YES, we have a problem with homes above a certain price level, YES, it could get worse, NO it's not the end of the world. In fact, for some, it provides an opportunity we haven't seen in Utah for a few years.

If you are a real investor, there are some great buys in homes for sale over $400,000.

If you are relocating to Utah, and and your price range is $400 to $600 thousand, this is the place.

If you are looking to upgrade the family home, and don't need to sell the old one to buy the new one, times have never been better.

To take an Internet look at all of the homes for sale in the Salt Lake Valley visit Salt Lake Homes. You'll get pictures, prices, maps, directions and almost everything the local Realtor has to make home buying decisions. It's FREE, we update daily so you can visit often.

For any Real Estate related questions, give us a call at 801-567-0946.

If you want, we can talk about Salt Lake Homes for sale for over $ 400,000 dollars.

The Sandy/Draper homes for sale report for 8/01/08 shows 1094 homes or condos listed in the Sandy/ Draper area of Salt Lake City as "homes for sale". Twenty per cent of these homes are condominiums. The average price of one of the 114 homes sold in Sandy City and Draper last month was $351,804 just a bit over the average listing price. That price equates to $122 per sq ft a decline of just over $1.00. Days on market jumped just a fraction compared to last years statistics, from 75 to 77 DOM.

The information contained in this Sandy/ Draper Real Estate, "homes for sale" market analasis 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 Rosecrest development in Herriman or the Daybreak community in South Jordan . 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 Salt Lake City or any other town in the Salt Lake Valley, we hope you will find this report helpful. and the Real Estate information timely.

Homes for sale in Sandy/ Draper:
There are 1094 homes for sale in the area as of 8/01/08.
221 of these are Condominiums.
This year, so far,1102 Sandy/ Draper homes have been sold.
236 of these homes have been condominiums.

Sandy/ Draper Homes activity last thirty days:
In the last thirty days, 280 new home listings have been added to the homes for sale listings.
105 Sandy/ Draper homes were sold and closed in that same time frame.
That represents an increase of 7 housing units sold over last month.
92 new contracts were written by Salt Lake Realtors.

Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes in Sandy/ Draper is 119.
Thats only a little over 10% of the total homes listed.
24 of these homes/condos have been added within the last 30 days.
7 homes have sold and closed in the last 30 days.
9 distressed properties were placed under contract last month.
The number of Bank Owned, REO, HUD, Short Sales sold this year is 65.
That represents less than 6% of the total homes sold.

About Sandy/ Draper homes for sale:
Sandy Utah has long been the most dynamic of the Salt Lake bedroom communities. Sandy, over the years has provided Utah families a very diverse selection of homes for sale. Horse property, Condominium living, Luxury homes, golf coarse communities as well as multi-family housing. Draper has been more or less an extension of that and has continued to develop a broad range of housing products for the Utah home buyer or Real Estate Investor.
Home prices have declined modestly over the last 12 months, (less than 2%) and while the national press named Utah number 10 in the country in number of foreclosures, we don't believe that the numbers support their findings for the Sandy/ Draper area.
A 13+% decline in home sales from June, 08 to July, 08 bears watching though and if that trend develops further, those modest price increases will quickly turn around.
Sandy/ Draper shows a modest 10% inventory of Foreclosures, Bank Owned and short sale homes. Not good, but not approaching the 25% stats we have seen in areas of California, and Arizona.
New home construction has slowed except in niche markets and the absorption rate which is currently over 10 months will remain steady or continue to decline slightly for the next year.

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 Herriman, South Jordan and West Jordan on this same site.

To have a look at the 8126 homes for sale in Salt Lake County, or the the homes for sale in your area, 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 or a house to look at, you can find it there. And it's FREE.

Thanks for being here and thanks for reading the Sandy/ Draper Homes for Sale report of 8/01/08.