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Orem Bank Foreclosures

Need Help Finding Orem Bank Foreclosures?

If you would like help finding a Short Sale or Orem Bank Foreclosures call me. I will help you find an approved short sale, HUD home or bank foreclosure. Currently Orem has no HUD homes for sale. HUD homes don’t last long and many of them are priced to sell.

Paul Teasdale, Principal Broker of Team Teasdale Realty 801-491-7653

Orem Bank Foreclosures: Inventory Rises!

Orem Utah had 1,478 homes, condos, townhomes and twinhomes SOLD in 2011.  These homes consisted of Bank Foreclosures, Short Sales, HUD Homes, Fannie Mae and Freddie Mac Homes.  The 1,478 homes included the typical residential seller in Orem that was not experiencing a distressed situation.  Approximately, 25% of the homes sold in  Orem were short sales in 2011.  Another 25% of the homes were Orem bank foreclosures. Team Teasdale Realty has recently sold several short sales and Orem bank foreclosures.

orem bank foreclosures

How to Orem Bank Foreclosures in Utah County Compare?

I have crunched some numbers to see how the bank foreclosures in Utah County compare to one another.  The most stable city is Orem and the least stable is Springville.  Provo is relatively stable compared to the other cities in Utah County.  Saratoga Springs and Eagle Mountain had a higher percentage of Orem bank foreclosures.

Orem appears to be the most stable.  In my opinion this is because the Orem community is a more seasoned community of homes and residents.  Cities like Saratoga Springs and Santaquin experienced a boom as the markets were on the rise from 2000-2006.  The cities like Saratoga Springs and Santaquin are now experiencing the contraction of the growing pains.  This was not the case for Orem.  The city of Orem has older homes and people that have lived in their homes for a much longer period of time.

It is hard to imagine that half of the homes sold in Orem, Utah were either bank foreclosures and short sales.  The amount of bank foreclosures in Orem Utah and shorts sales will continue into 2012.  In speaking with many of the Realtors that represent the banks in Utah County they have made it clear the inventory will continue to climb.

If the supply of Orem bank foreclosures and Orem short sales continue to climb into 2012 then prices will also decline.  It still makes sense to buy a home in Orem even if prices slightly fall.  Prices have been falling for five years and catching the exact bottom will be very difficult. In 2013 and 2014 Orem bank foreclosures were difficult to find. If you need help finding Orem bank foreclosures contact Team Teasdale Realty.

See an updated daily list of Orem Utah Bank Foreclosures

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