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Showing posts from April, 2010

The Real Estate Report Card for the week of April 26, 2010

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 numbers and what they mean!

The Tax Credit & Short Sales

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 offe…

The Real Estate Report Card for April 22, 2010

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 Short Sales...
13.9 % of the homes …

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