St. George Utah foreclosures and REO (Real Estate Owned) single family residences account for a small portion of the active available St. George Utah and Southern Utah real estate. Depending on any particular time period Southern Utah and St. George foreclosures for Single Family residences in Washington County on the Washington County Board of Realtor’s MLS (Multiple Listing Service) account for only 7% to 10% of all active single family residences.
That can mean as little as 7 out of 100 homes are presumed to be a good value. We see around 200 closings in any 30 day period in St. George and one third or more of those are REO homes. When you look at the most popular price points the percentage for REO’s vs. other contracts is even larger and more competitive.
One of the great things about an REO property is the value, for the most part they are priced correctly right from the start and most asset companies will adjust the price in 30 to 45 days to get the property off their books. Sometimes after 90 days they change real estate agents, the banks want these gone!
If you are an asset manager please interview me for the job of selling your Southern Utah and St. George Utah foreclosure properties. I have the skill sets, tools and experience to make the difference.
St. George Utah REO’s – A Tale of Two Real Estate Markets
St. George Utah foreclosures will definitely impact you as a buyer and as a seller. As a buyer you will be trying to secure a great home at a great price, this home will be found in 20% to 25% of our available St. George Utah homes for sale. That is a staggering low number of only 2 months of inventory!
As a seller you will need to price your home correctly at the start, this is not a market you want to chase with price reductions. The foreclosures that don’t sell immediately get the price slashed. That will definitely apply downward pressure on your home’s value if it lingers on the market and tries to compete with the neighboring home getting aggressive price reductions and multiple offers. St. George Utah foreclosures offer some great values.
What Condition will my St. George Foreclosure be in?
There is no set answer to this, you can expect all the locks to have universal keys assigned, meaning all locks will need updating, most dead bolts are removed and a cheap metal filler installed.
You will have a very short time to do your due diligence (inspections and evaluations). You will get a clean marketable title and the bank will expect an efficient and rapid closing, usually 30 days.
The home will always be sold “AS IS” with no seller’s disclosures. You may find fresh paint and new carpets, every bank has their own spin on what they are willing to do to get the home sold.
Some of our St. George foreclosures are in need of lots of work, some even requiring the construction to be completed. The yard may need attention, remember many of these St. George and Southern Utah foreclosures have been vacant for months and in some cases years.
St. George Utah Foreclosures – How Do I Find Them?
St. George Utah foreclosure MLS search is easy… Finding all the right Southern Utah or St. George Utah foreclosures are easy! I have the tools to find all foreclosures, Bank Owned and REO homes and properties in Southern Utah. I have compiled a list of Southern Utah and St. George Utah real estate industry professionals to make the purchase of your St. George foreclosure a seamless and enjoyable experience. Just click on my St. George and Southern Utah MLS bank foreclosure and REO MLS search link at the top of this page. Here you will find only foreclosures in St. George Utah that are active on our Washington County Board of Realtors MLS search.