I was searching the Utah County MLS this morning to find out how many short sales we have for sale.  We have 651 short sales for sale in Utah County.  This number is extremely high.  In my opinion it will get much higher due to the economic crisis.  It is a great time to pick up a bargain on a short sale.  It takes time, patience and dedication to find the right approved short sale.  One nice feature that has been added to the MLS is the option to search only for short sales.   It looks like this:

Short Sale: [clear]
only exclude

The nice thing about the new MLS feature is that it gives you the option to even exclude short sales.  Many buyer's don't even want to deal with them due to their typical extended time line.  Price approved by 3rd Party means the bank has approved the price.  Price subject to 3rd party approval means the Realtor and seller have just invented a price the bank may not even consider.  The absolute best short sales are the ones that have 3rd Party approval.

When I started selling real estate in Utah County 14 years ago short sales did not exist.  It was around 2000 when I did my first short sale in Mapleton, Utah.  It was challenging at the time and very interesting.  I was fascinated that I was able to get a bank in Florida to agree to a lower price than was owed on my clients home.  The seller told me if the bank ever comes after them in the future they would sue me.  I never heard from them again.  However, it is possible in some cases that a bank will come after the defaulter on a short sale.  

 


If you are currently committed to your Realtor please contact them for a list of short sales in your area.  If you are shopping in Utah County on your own and would like a short sale list today let us know.  Send me an email and one of the members of Team Teasdale will get you a list.  

Here is a direct link to request your list of short sales in Utah County:  List of Short Sales

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Welcome to my blog!  I manage Team Teasdale of Re/max Results Realty.  We are located  in Spanish Fork, Utah.
Our group combines proven traditional real estate practices and represents the leading edge in the future of real estate marketing by merging internet technologies, service, communication, information and analysis with those traditional practices to provide our clients with an exceptional real estate experience and superior marketing.



Paul Teasdale, Associate Broker
ABR, CRS, e-PRO, QSC, Finance BYU
14 Years Experience, 750+ Homes Sold
Team Teasdale, Utah County Real Estate
Phone: 801-491-7653

http://www.UtahCountyListings.com
Email