The Real Estate Report Card

Lets take a look at our 30 day snapshot of our Salt Lake County Real Estate Market! Here are the numbers looking back from 4/26/2010. Total # Actives 7766 Sold last 30 days 825 Sold 365 Days 11502 Listed last 30 days 1939 Total Pending Sales 2180 Pending last 30 days 1340 Expired last 30 days 903 Expired listings 365 Days 12365 Months Supply of Homes 9.4 SHORT SALES Total # Actives 1652 Sold last 30 days 120 Sold 365 days 1298 Listed last 30 days 252 Total Pending Sales 254 Pending last 30 days 122 Expired last 30 days 191 Expired listings 365 Days 2089 Months Supply of Homes 13.7 Average Days on Market 129 21.2 % of our active listings are Short Sales... 12.9 % of the homes listed in the last 30 days are Short Sales... 11.6 % of the homes pending are Short sales... 21.1 % of pending homes in the last 30 days are Short Sales... 14.5 % of the total homes sold in the last 30 days were short sales... Feel free to call me if you have questions about these num

There are many offers out there on Short Sales! Which ones are qualified for the tax credit? The Tax credit says that a buyer must be "under contract" by April 30, and closed by the June 30th. If you made an offer on a short sale and the seller accepted your offer in primary or first position anytime before April 30, you are safe! You are under contract for purposes of the tax credit. If you are in a back up position you are not under contract. If you are not under contract, I would try to find out what you can do to get in first position if you have an offer in, or I would identify a property that is available and get under contract. Bank approval, price approval, and third party approval are just contingencies,  just like the due diligence and financing/appraisal conditions are. The contract is between the buyer and seller and the bank is not party to the contract. No back up offer, whether its on a short sale or not would be considered to be under contract. A back up

Lets take a look at our Salt Lake County Real Estate Market! Here are the numbers looking back the last 30 days from 4/20/2010. ALL LISTINGS for Salt Lake County, the greater Salt Lake City area. Total # Actives 7684 Sold last 30 days 832 Sold 365 Days 11462 Listed last 30 days 1992 Total Pending Sales 2105 Pending last 30 days 1349 Expired last 30 days 926 Expired listings 365 Days 12385 Months Supply of Homes 9.2 Short sale numbers for the greater salt lake city area, Salt Lake county Total # Actives 1634 Sold last 30 days 116 Sold 365 days 1298 Listed last 30 days 253 Total Pending Sales 252 Pending last 30 days 141 Expired last 30 days 206 Expired listings 365 Days 2094 Months Supply of Homes 14 Our average Days on Market 130 To summarize.... 21.2 % of our active listings are Short Sales... 12.7 % of the homes listed in the last 30 days are Short Sales... 11.9 % of the homes pending are Short sales... 22.2 % of pending homes in the last 30 days are Sho