Real estate brokers in Utah saw some improvements in the home buying market in December 2010. Sales of houses in the state were low for the full year, but picked up in the last month of the period.
Bank owned repo home listings and foreclosure numbers increased in most metro areas of Utah in 2010. The increase was largely attributed to unemployment.
Handyman Special homes for sale and other foreclosed properties remain high in Utah. Despite these problems, analysts predict a strong future for the state.
Foreclosure assistance programs in the form of a bill have been approved in Utah. The bill was the only measure among several to make it past the Legislature.
Sheriff auctions in Utah offered more foreclosed homes last year as filings increased. The state was ranked fifth nationwide in terms of foreclosures in 2010.
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Moving to halt foreclosures against their properties, home owners in Utah are reportedly suing lenders. An increased number of lawsuits have been recorded.
In Utah, owners of bank foreclosed house for sale called on the state Legislature to take further actions on foreclosures. They are being aided by advocacy groups.
Land foreclosures for sale and foreclosed residential properties continue to edge out new homes. The drop in nationwide housing starts was heavily felt in Utah.
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Investing in repossessed homes can become even better in the coming months as home prices fall. Analysts also revealed that underwater mortgages have risen.
Bank owned rentals and apartments are in high demand in Salt Lake City. This has resulted in a number of properties getting converted into rental dwellings.
Real estate investments experts have different opinions about the federal government's deal with lenders. Lenders have been ordered to reimburse homeowners.