About Tooele County, UT

Stansbury Park has some great New Home purchase incentives. A lot of the incentives are just because the New Homes are in Stansbury Park.

The other incentives can be covered by talking about three other phenomenon !!! Ivory Homes, Richmond American Homes and ........ Group1 Real Estate knowing where to take you for 100% financing in Tooele County.

IVORY HOMES:

This weekend Ivory Homes is building their ad campaign and new home sales efforts @ Benson Mill Crossing in Stansbury Park around the $7500 Tax Credit, and a $7500 matching rebate purchase Incentives from Ivory.

Ivory is offering beautiful single family new homes from $200,000, and maintenance free town homes from $140,000 dollars. Utah's largest builder is promoting payments on the town homes @ under $870.00 per month. (6.81% APR).

RICHMOND AMERICAN HOMES:

Richmond is offering special financing purchase incentives on quick move in new homes (homes built and ready to occupy) that can close by the end of the month. A 30 year fixed rate w/an APR of 5.9382% in this market would make a difference.

They have ready to go inventory in Starside ll from the mid $200s. New homes in Picket Lane in the upper $100s and single family new homes for sale in Stansbury Place from the low $200s. All new homes in Stansbury Park.

Of coarse if your a first time home buyer you still can qualify for the $7500 Tax Credit.

GROUP1 REAL ESTATE:

As far as the 100% financing goes, give us a call. It's not a New Home purchase incentive that we alone can give. We'll share that information with you whether were your agents or not. It's available in Tooele County and its worth the phone call.

Speaking of agents, remember to call your agent before you visit the Ivory or Richmond American model home office. Those nice people that greet you at the door and are so helpful work for the builder. That means that you are NOT represented in what might be the largest financial transaction of your life. Don't take a chance. Call your favorite Realtor. If you dont have a favorite Realtor, call us. 435-840-5029. It's FREE if you call us first.

To find out more about new construction in Stansbury Park and why you should have your own agent, visit our website New Home Agent.

To view previously owned homes for sale in Stansbury Park and Tooele County you can log on to Stansbury homes for sale and see 100s of homes for sale in the Tooele Valley.

In the meantime give us a call. Lets go visit homes for sale in Stansbury Park and check out those new home purchase incentives.

This report on Pre- Foreclosures and Foreclosures in Tooele County doesn't look like many of the distressed property reports I've seen lately.

Pre Foreclosures are homes listed on the MLS as "Short Sales" or houses that need the approval of a 3rd party before title can change hands (Corporate Owned). Foreclosures are Identified as HUD Homes, Home Steps, REOs, or Bank Owned Homes.

Even as good as Utah is as compared to most of the country, Tooele County is even better.

Many Real Estate proffessionals are predicting that pre-foreclosure homes that are being offered as "short sales" will not sell, and ultimately will become Bank Owned creating a situation where 35 to 40% of homes listed for sale will be foreclosed REOs.

Not a good scenario........ BUT!!

In Tooele, If every Home listed for sale in Tooele City, Stansbury Park, Grantsville Ut, and Stockton, (99% of Tooele County homes) as a distressed property went to foreclosure, the percentage would be a modest 9%.

Thats unlikely to happen as most of the Tooele County's 55 distressed homes are spread out over the 3 major local housing markets, and the price spread is not weighted at one specific price point.

PRE-FORECLOSURE, FORECLOSURES IN THE 603 TOOELE LISTINGS:

Of the 603 Tooele County Homes listed in the MLS, only 55 are Bank Owned, Hud, Home Steps, Short Sales.

Those homes are located in:

Tooele City........27
Grantsville ........20
Stansbury Park...5
Stockton ..3

PRICE RANGE OF 55 PRE-FORECLOSURES & REOs IN TOOELE:

To $ 99,000 ............2 homes or 3% of the inventory.

$99,000 to $150,000.............14 or 25.4% of distressed homes.

$151,000 to $200,000............13 or 23.6% are Bank Owned Homes or Short Sales.

$201,000 to $250,000............15 homes are REOs or Bank Owned; 27.2%.

$251,000 to $300,000..............6 houses or condominiums; 10.9%.

$301,000 to $350,000..............4 homes or 7.2% of distressed homes listings.

$351,000 to $400,000..............1 home is listed as bank owned.

To search online for any one of the 603 homes listed for sale in Tooele, go to our website Tooele Homes and you can see pictures, prices, maps, everything we can think of to help you in your home buying search.

To talk Real Estate talk give us a call, @ 435-840-5029.

We can talk Real Estate, car racing, grand kids or this report-Pre-Foreclosures & Foreclosures in Tooele County.

Published Friday, October 10, 2008 11:19 AM by Chris & Berna Sloan

Homes for sale in Stansbury Park are eligible for a little known "0" Down program. Add to that, a $7,500 tax credit for First Time Home Buyers and you may have a home buying strategy that wont need a government bail out.

Were going to call this 2 part strategy the "Stansbury Park Patriotic" plan, because it helps folks looking for that first home, that have EARNED their part of the American Dream by having good credit.

Part 1. The $7500 tax credit for qualified home buyers is part of the new H.R.Housing Recovery Act of 2008. Here's a quick overview of the act. ( I don't give tax advise, you may want to check with your accountant.)

a. First Time Home Buyer means you can't have owned a home for the last 3 years.

b. The amount of the credit is 10% of the purchase price, with a maximum of $7500.

c. Full credit applies to single folks making $75,000 or less. $150,000 for marrieds.

d. Tax credit is paid back over 15 years, so it really acts like a 15 year interest free loan.

e. You reap the benefits when you pay your taxes each year. WHAT A DEAL!!!

Part 2. The "0" Down part, is our secret sauce. You have to call us to get that information, but there are no strings attached, we'll tell you how it works regardless whether we represent you or not. HONEST!!!

In fact I have another secret. The "plan" doesn't just work in Stansbury Park. The no down payment $7500 tax credit combo works in Tooele City, Grantsville, Erda, Stockton, Lake City, Actually anywhere in Tooele County.

To see homes for sale in Stansbury Park, go to Stansbury Park Homes for Sale you'll see photos, prices, maps. addresses, in fact the same kind of information Realtors look at to help you search for a new home.

Just give us a call @ 435-840-5029 we'd love a chance to earn your Real Estate Business and to discuss how you can take advantage of the Homes For Sale In Stansbury Park "0" Down Plan + $7500 Tax Credit.

Tooele County Short Sales are likely to become Bank Owned Homes.

At least thats the conventional wisdom.

I'm not so sure. We just don't have as many out here, and with few exceptions, they are houses with great promise at a good price.

What brings this up, is Cories article last Tuesday, out of our Salt Lake Office, that quotes the NAR, and Realty Trac as projecting that as much as 35% of all the homes for sale across the U.S. will soon be "Bank Owned". That of course assumes that a particular market has a large number of homes for sale as short sales, they don't sell, and the bank forecloses. ( read REO Boom).

Just to prove my point, I investigated the distressed property in the major home selling areas in Tooele County, IE: Stansbury Park, Tooele City, Grantsville, Erda & Stockton UT.

This is what I found !!!

Tooele County:

There are 625 homes or Condominiums listed for sale on the MLS in Tooele County.
48 of those homes or condos are either Bank Owned, HUD Homes,or Short Sales.
This represents only 7.6% of the homes listed.

Stansbury Park:

There are 129 homes or condominiums listed for sale on the MLS in Stansbury Park.
Only 6 of those houses are distressed property.
Those 6 homes are less than 5% of the inventory of homes for sale in Stansbury Park

Grantsville UT:
Grantsville UT has 115 homes or condominiums listed for sale across the WFRMLS.(MLS).
Seventeen of these listings are distressed homes.
Those seventeen homes represent almost 15% of the homes for sale in Grantsville.

Erda, Lakepoint, UT:
There are 23 properties listed in the Erda, Lakepoint areas.
None of these homes are Bank Owned ,HUD Homes or Short Sales.

Observations:

It is very unlikely that Tooele County will find itself in a position any where near what the NAR, and Realty Trac were suggesting in Cories blog.
Only Grantsville approaches the negative numbers that seem to be the norm in parts of the country. Even that number of 15% would not be considered a problem number in parts of California, Arizona, Nevada, and Florida, where percentages of pre-foreclosures often reach 40% to 50%.

Keep in mind, that the stats we have used are from the Wasatch Front Regional Multiple Listing Service (MLS) and do not include either Homes For Sale By Owner (FSBOS), or most of the New Construction Homes. Even though most FSBO homes are eventually sold by a Realtor, they are not initially listed on the MLS. New Home Builders like you find in Stansbury Park, IE: Ivory Homes, Richmond America, Symphony Homes and Fieldstone Homes sell from models, and like to control representation through their own sales people.

To see the over 600 homes for sale in Tooele County, stop by our website @ Tooele Homes For Sale and get photos, prices, maps, addresses and most of the information your Realtor uses to search for homes.

If you would like to talk to someone about the New Homes, Town-Homes, or Condos in Stansbury Park, give us a call @ 435-840-5029. We can also tell you which Tooele County Short Sales may be Bank Owned.

Last week Berna and I had the opportunity to participate in a "Happy Birthday" barbeque put on by the Tooele Chamber.

It was held at the City Park in conjunction with the "Friday nights on Vine St." concert series. It was the Chamber's 60th birthday. We grilled some great burgers and hot dogs, and served several hundred of our closest friends.

For a $1 donation (or 1 can of food), they got a burger or dog, chips, cookie and drink. Macey's and the Chamber supplied the food (including a great birthday cake!) and Denny's and Steve Smith from American Family Insurance supplied the drinks. Everyone sat under the trees and listened to some wonderful country music from the Painted Desert Band.

We raised over $300 plus 70 cans of food to supply lunches for the homeless here in Tooele County!!!

The concert series originally started at the Veterans Park on Main and Vine, but grew too big, so it's been moved to the Pool Park.

As it was designed to bring people to Tooele's downtown retail area, I hope that the city figures out a way to keep the attention downtown. They were the real beneficiaries and the city moved the series! They have until April to figure out a new plan. In any event, it was great fun!

The Tooele Chamber of Commerce has been doing this "good Work"for 60 years !!!!!

HAPPY BIRTHDAY CHAMBER !!!