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Utah County Bank Foreclosures

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Utah County Bank Foreclosures

Search Utah County Bank Foreclosures

Are you looking for Utah County Bank Foreclosures? Here you will find many types of REO's and repos. All the homes listed by Fannie Mae, Freddie Mac, HUD Homes and Bank of America Repos. In fact, you will find all the Utah County Bank Foreclosures right here. Banks list thier homes with local Realtors and the Realtors post these listings to the MLS.

Our database is linked up with the MLS. It sends what are called "robots or spiders" to crawl the MLS several times a day. These robots identify the new Utah County Bank Foreclosures and add them to the this list. This is the most accurate and complete list of Bank Foreclosures I have seen online. Remember to bookmark this page and check it often. You will see the number of bank foreclosures change daily.

If you choose to register with our site we will send you the new Utah County Bank Foreclosures. Go ahead! Start your search below by clicking the Map Search.

How the Utah County Bank Foreclosure Market Has Changed

Bank Foreclosures in Utah County were very uncommon prior to 2006. In 2007, bank foreclosures started picking up steam. The first large wave of Utah County Bank Foreclosures came from Fannie Mae. These were previous FHA loans where the buyer stopped making payment on their loan. Many of these buyers could not afford the payment or loan from the beginning. In my opinion, the problem began with the federal government getting involved by deregulating loan requirements. This can lead to a long discussion or debate.

The number of REO's reached full capacity between 2007-2011. Approximately 25% of the homes for sale in Utah County were bank repos. The Utah County Repos kept piling up. It looked like there was no end in sight. The Realtors that had contracts with the large banks and governement entities were making some serious money at this point. Our team mostly worked with local banks, credit unions or small lenders/banks from around the country. This was a challenging time in the real estate market for many people. Many real estate companies, title companies and lenders closed their business due to the slow activity in the real estate market. Our team was very blessed and managed to sell around 50 homes per year during the slow down.

Utah County Bank Foreclosures Now and Into the Future 

Something changed on 12/31/11. It was like every buyer that was on the fence jumped into the Utah County Real Estate market and wanted to buy a home in 2012. Buyer's felt the market had reached a bottom and that they would not see interest rates this low every again. Some of my buyers were getting 3.5% on a 30 mortgage. This seemed ridiculous.

The 2012 real estate market took a major change and homes started selling. In fact, my team is on target to close over 100 homes in 2012. This is double our yearly average from 2007-2011. When the market changed in 2012 the number of Utah County Bank Foreclosures drastically changed. We went from about 25% of the homes for sale in Utah County being bank foreclosures to approximately 3% of the homes being bank foreclosures.

I think the Utah County Real Estate market will see less bank foreclosures enter the market in 2013 and 2014. Buyers are once again able to get out of their homes without having to do a bank foreclosure. Buyers are now more likely interested in doing a Short Sale in Utah County. The market has certainly changed in the last few years and will continue to change into the future.

Bank Repos Often Get Multiple Offers

A well priced Utah County Bank Repo will tyically get multiple offers. If you are looking to buy a bank foreclosure in Utah County you need to be very assertive. Be sure to find an assertive Realtor that will get you the home you find. Watch the list of bank foreclosures daily and be ready to make a move if a bargain arrives. It is still possible to find a good buy on a Utah County Bank Foreclosure it just takes much more time and effort. Team Teadale Realty will show you homes and help you make an offer on a bank foreclosure. The Realtors on Team Teasdale Realty are HUD approved agents. We can post online bids into the HUD system if you happen to find a HUD home for sale.

If you are looking to buy a Bank Repo contact me. My name is Paul Teasdale with Team Teasdale Realty. I has been selling bank foreclosed homes in Utah County since 1995. I have sold over 1,100 home over the past two decades and am very familiar with what it takes to get a bargain on a bank foreclosure. Join Our "Utah County Bank Foreclosure Club" Today!

The Utah County Bank Foreclosure Process Explained

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