Buyers are Buying Short Sales in Utah County

Short Sales Homes for Sale in Santaquin Utah

One would thing that short sales in Santaquin, Utah would be a high level. However, after carefully analyzing the short sale data on the MLS, I have come to realize that the Santaquin, Utah market is healthier than many on other cities in Utah County. Santaquin has 110 homes for sale and 13 of them are short sales. This means 12 % of the homes for sale in Santaquin are short sales.

Short Sales Homes for Sale in Eagle Mountain Utah

It has reach a ridiculous state of affairs. How can this data be true? It is true. As of 12/26/2011 Eagle Mountain Utah has 39% of the listings for sale marked on the MLS as short sales. This is a staggering number when you consider about another 30% of the homes are bank foreclosures in Eagle Mountain. This means approximately 65% of the homes for sale in Eagle Mountain are distressed properties. Eagle Mountain, Utah has 210 homes for sale. 82 of the homes for sale in Eagle Mountain are short sales.

Short Sales Homes for Sale in Saratoga Springs Utah

As of 12/26/2011 the Saratoga Springs, Utah real estate market has 61 short sales for sale out of 235 homes.  This means that about 26% of the homes for sale in Saratoga Springs, Utah are currently short sales.  We have two types of short sales for sale in Saratoga Springs.  The first is called an approved short sale and the other is an unapproved short sale. Many Realtors call an unapproved short sale a pre-foreclosure.

Short Sales Homes for Sale in Payson Utah

As of 12/26/2011 the Payson, Utah real estate market had 30 short sales for sale out of 118 homes.  This means that about 25% of the homes for sale in Payson, Utah are currently short sales. Short Sales in Payson Utah have climbed and continue to climb. They have reached 25% of the real estate market. One in four homes for sale in Payson are short sales or bank foreclosures.

Short Sales Homes for Sale in Pleasant Grove Utah

How can Pleasant Grove Utah have so many short sales? It is true. As of 12/26/2011 Pleasant Grove Utah has 46% of the listings for sale marked on the MLS as short sales. This is a staggering number when you consider about another 30% of the homes are bank foreclosures in Pleasant Grove. This means approximately 80% of the homes for sale in Pleasant Grove are distressed properties.

I have been selling homes in Pleasant Grove since 1995 and have never seen anything like this. The media outlets continue to claim the real estate market is stable. If this is stable get me outa here! If you are a seller I guess we hit the ice berg a while ago. If you are a buyer you have just landed in paradise. What an opportunity. We may have not hit the absolute bottom but we are sure close.