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* Weekly Foreclosure Hotsheet (05/25/10)

Published May 25, 2010 * Real Estate Information Leave a Comment
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*124 New Listings for the week of 05/25/10. List also includes all short-sale, as-is, and distressed owner properties.

Counties: Salt Lake, Utah, Davis, Weber, Box Elder & Cache Counties

For more info or to schedule a preview call 801-589-7288. You can also send your request through the contact form.

 

mls # Price Bd/Ba SqFt YrBlt Street City
964234 $799,000 6/7 8,631 1999 DAVIS Bountiful
964333 $675,000 7/6 7,619 2005 FRIENDSHIP Herriman
965475 $454,900 3/3 5,694 2006 EAGLE CLIFF Sandy
964298 $450,000 4/4 5,536 2007 WHISPER HLLW Draper
965628 $449,900 4/3 4,414 1995 COUNTRY VIEW Herriman
964483 $446,500 4/4 5,401 2005 12210 Riverton
964909 $349,900 5/4 4,028 1987 SURREY Taylorsville
964177 $349,000 5/4 5,250 2006 SEVEN IRON Saratoga Spr
965241 $335,000 4/4 4,591 2007 SWIFT CREEK Layton
965174 $328,900 5/4 4,604 2004 CANTERBURY Highland
964150 $300,000 4/3 3,700 2005 BLUEROCK South Jordan
963954 $299,000 8/4 3,674 2005 ROSE SUMMIT DR. Herriman
964707 $295,000 4/3 3,428 2004 KESTREL RISE South Jordan
965617 $289,900 3/3 3,850 2004 LONGBRANCH Draper
964099 $279,900 4/3 2,522 1995 RIVER Eden
964033 $275,000 3/2 2,497 1948 AUSTIN Salt Lake City
964420 $271,000 5/3 3,636 1964 DAVIS Bountiful
963994 $257,000 4/3 3,589 2007 SAGE BLOOM Saratoga Spr
964885 $239,900 5/3 2,975 1980 HIDDEN VALLEY Sandy
964079 $235,000 3/4 1,945 2007 CLUBVIEW Lehi
964635 $230,000 3/2 1,534 1933 BRYAN Salt Lake City
964161 $229,500 4/4 2,752 1978 1580 Salt Lake City
965536 $225,000 4/2 3,199 2003 1350 Woods Cross
965586 $224,900 5/2 1,701 1975 WAYSIDE Sandy
964544 $221,900 4/3 3,763 2005 HEYWARD Eagle Mountain
965639 $220,000 5/2 2,150 1981 BEGONIA West Jordan
964741 $219,900 0/0 1,947 1992 EAGLE NEST Murray
964819 $211,500 5/3 2,944 1972 1600 Logan
964535 $210,000 3/2 3,100 2006 1530 Spanish Fork
964601 $210,000 6/3 3,748 1977 BALSAM Taylorsville
964906 $210,000 6/3 2,374 2006 ADVENTURE West Jordan
965569 $210,000 5/3 2,274 2003 MORNING LIGHT Herriman
964149 $209,900 5/4 3,457 2006 APPALOOSA Eagle Mountain
964538 $199,900 4/4 2,326 1999 NEWLAND LOOP Lehi
964847 $199,900 6/2 1,972 2001 VISTA RIDGE Salt Lake City
965233 $199,900 3/3 3,369 2008 ROCKY CREEK Saratoga Spr
965403 $199,900 5/3 1,958 1999 EMMA MINE Herriman
965525 $199,900 4/3 2,820 1991 1000 Sandy
965343 $199,000 5/2 2,236 1975 11000 Sandy
963976 $195,000 4/4 2,299 2006 DAYTIDE South Jordan
964203 $194,900 4/2 3,192 1980 IRIS Mountain Green
964490 $190,000 3/2 2,060 1997 2370 Provo
964477 $189,900 4/2 2,280 2003 100 Payson
965195 $187,900 2/1 1,852 1985 RICE Farmington
964499 $184,900 5/2 2,169 1981 2000 Woods Cross
964482 $183,700 3/2 1,610 1972 OXFORD Ogden
965654 $183,500 3/2 1,377 2003 PRIVET Cottonwood H
964305 $180,000 4/2 1,683 1987 LODER Kearns
964740 $179,900 3/3 2,028 2004 6430 West Jordan
964631 $179,800 3/3 2,892 2007 930 American Fork
964643 $176,000 4/3 1,889 1976 STAFFORD Salt Lake City
964721 $175,000 5/3 3,348 1996 1480 Spanish Fork
964831 $175,000 4/2 2,180 1996 HAMPSHIRE West Valley 
965030 $175,000 3/3 1,882 2006 BOTTLEBRUSH West Jordan
965277 $175,000 3/3 1,951 2006 VILLAGE PINE West Valley
963936 $174,900 4/2 2,592 1960 350 Orem
964688 $173,300 3/3 1,700 2006 6175 South Ogden
965123 $168,500 4/2 1,740 1980 3270 West Jordan
964716 $168,000 3/3 1,495 2006 EVANS COVE Layton
965182 $166,700 3/1 1,376 1983 WESTBROOK Taylorsville
965376 $165,600 5/3 2,302 1973 1380 Sandy
964753 $165,000 3/3 1,563 2006 1540 Lehi
 
To Receive New Foreclosures Daily!    click here >
 
965096 $162,000 3/2 1,643 1997 LARKIN Kaysville
965659 $160,680 3/2 1,824 1954 PIONEER Midvale
964415 $159,900 2/2 2,112 1961 COTTONWOOD Midvale
964913 $159,900 3/2 2,040 2006 GLAMIS Draper
965058 $157,000 3/1 1,835 1983 PARR West Jordan
965633 $156,900 3/3 1,421 2004 JULIEN Bluffdale
965567 $155,000 3/2 1,791 1979 600 Clearfield
964773 $154,900 5/3 2,156 1960 8600 Sandy
964233 $150,000 3/2 1,100 1999 WINCHESTER Springville
964717 $150,000 3/1 1,125 1945 600 Provo
964998 $150,000 4/4 1,890 2006 CALENDULA West Jordan
965232 $150,000 3/1 1,617 1916 RAMONA Salt Lake City
964297 $149,900 3/2 1,444 1985 AZURE MEADOW Taylorsville
964767 $149,900 3/2 1,550 1960 PRINCETON Midvale
964373 $149,800 5/3 2,172 1977 WALNUT Salt Lake City
964677 $149,000 4/2 2,140 1953 3500 West Valley City
964709 $149,000 3/1 1,420 1999 OQUIRRH West Jordan
965206 $149,000 4/2 2,850 1969 3 FOUNTAINS Murray
964609 $144,900 3/2 2,513 2007 REVERE Eagle Mountain
963963 $144,500 3/3 1,534 2007 TRAVELER West Jordan
965157 $142,900 3/3 2,077 2010 700 Clearfield
963969 $139,900 5/3 2,253 1975 MORTON Salt Lake City
964183 $139,900 4/2 1,976 1979 ZANA Magna
965627 $136,900 4/2 1,854 1974 SHARON Magna
964416 $135,000 5/2 2,099 1976 6000 Roy
964811 $135,000 2/2 1,036 1997 6600 Salt Lake City
965641 $135,000 3/2 1,163 2002 VIVANTE West Valley City
965060 $130,000 4/2 1,485 1983 RED ZINC Salt Lake City
965122 $130,000 4/2 1,872 1977 BELLO West Valley City
965026 $129,900 4/2 1,928 1980 BREEZE Magna
964179 $125,000 3/2 1,249 2003 SONORA Riverton
965372 $124,900 3/2 1,910 1978 MORTON Salt Lake City
964624 $120,900 3/2 1,836 1957 CALIFORNIA Salt Lake City
963979 $120,000 0/2 1,542 1983 500 Clearfield
964244 $120,000 4/1 1,750 1986 8770 West Jordan
964578 $120,000 3/2 1,446 1984 2840 West Jordan
965225 $119,900 3/2 1,843 1976 4240 Salt Lake City
965453 $119,900 4/3 1,816 1983 ROXBOROUGH Salt Lake City
964459 $117,000 4/2 1,836 1973 HONEYWOOD West Valley 
965248 $114,900 3/2 1,659 2001 SILVER SPIR Eagle Mountain
965017 $113,000 2/1 1,991 1975 950 Clinton
964311 $109,900 4/2 1,564 1950 WASATCH Salt Lake City
964967 $109,000 3/2 1,186 1959 MADISON Magna
963960 $107,500 3/1 1,322 1952 MONTGOMERY Salt Lake City
965442 $105,500 4/2 1,851 1926 1000 Salt Lake City
965109 $105,000 3/2 1,329 1903 200 Fielding
965201 $104,900 4/2 1,828 1981 BEGONIA West Jordan
964352 $99,900 4/2 1,641 1950 CROSS Ogden
965007 $99,000 5/2 1,963 1915 8650 Magna
965584 $92,100 3/2 1,736 1959 LEMAY Salt Lake City
964186 $89,900 2/1 1,480 1940 OGDEN Ogden
964946 $89,000 3/2 1,080 1999 H Ogden
965156 $82,500 4/2 2,600 1882 ADAMS Ogden
964720 $80,000 3/2 1,176 1954 5135 Salt Lake City
965310 $80,000 2/1 1,025 1904 CLAYBOURNE Salt Lake City
964660 $79,900 2/1 780 1970 WILLOW Murray
964731 $79,900 0/0 1,020 1959 1050 Ogden
964265 $75,000 2/1 949 1940 BUCCANEER Magna
964701 $73,900 4/1 1,600 1909 9150 Magna
964704 $59,900 2/1 875 1975 ROSEHAVEN West Valley 
965653 $55,000 4/1 1,306 1909 2700 Magna
965515 $35,000 3/1 1,020 1960 675 Ogden

 
 
To Receive New Foreclosures Daily!    click here >
 
Source:  Wasatch Front Regional Multiple Listing Service
 
*Please note, not all listings are bank foreclosures.  Mixed in are all as-is, short sale, and distressed owner properties.  Once in a while a listing will slip by us that doesn’t fit any of those categories and shouldn’t be on this list.  If you would like more detailed information about any particular listing, call 801-589-7288.
 
Thanks for being part of the NorthernUtahHomes.com community.

* New Improvements to NorthernUtahHomes.com

Published June 10, 2009 * Real Estate Information Leave a Comment
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Web Marketing For DummiesAs most of you may have already noticed, we’ve been making some changes to our website NorthernUtahHomes.com.  All of this has been done to improve the functionality, appearance, and overall experience for you, our visitor.

We appreciate all of the input that many of you have contributed already and encourge more of it.  We are constantly working on creating a place on the web where buyers and sellers can get valuable information, useful tools and the resources necessary to meet their real estate goals.

In addition to the changes on our websites, we’re also excited to share about the added benefits we are now providing to our real estate clients:

For buyers, we are currently offering a Homebuyer Rebate Program.  The name is self explanatory and the steps are easy.  Basically, if you allow me or one of my team members to represent you on your next home purchase, we will rebate you 30% (up to $5,000) of our real estate commission after closing if you register online.  Every MLS listed property is offering the buyer’s agent  a commission when their client purchases the home.  Now, 30% of that commission can be yours when you work with us!

For sellers, we have added the “Pro 500 Plan“, a listing package that allows you to list your home for a mere $500 at signing and only 1% of the sales price at closing.  Not to be confused with a limited service type listing, the Pro 500 Plan offers just as much, if not more marketing and service than most real estate agents offer for 6%.  Popular among For Sale by Owners, this plan also gives home sellers the flexibility to sell the home to a buyer who is not represented by a buyer’s agent and thereby save thousands more.

Whether you’re in the market to buy or sell, take a few moments to review our programs and consider working with us to meet your real estate needs.  Thanks for being part of the NorthernUtahHomes.com community.  -Will

* Weekly Foreclosure Hotsheet (12/9/08)

Published December 9, 2008 * Real Estate Information Leave a Comment
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——————————————————
*146 New Listings for the week of 12/9/08. List also includes all ’short-sale, as-is, and distressed owner properties.

Counties: Salt Lake, Utah, Davis, Weber, Box Elder & Cache Counties

For more info or to schedule a preview call 801-589-7288. You can also send your request through the contact form.
——————————————————

mls # Price Bd/Ba SqFt YrBlt Street City
850367 $879,900 6/6 7,325 1968 HIDDEN OAKS Salt Lake City
851365 $699,900 4/3 7,653 2007 1050 Springville
850061 $680,000 5/4 6,349 2008 SHEEPROCK Herriman
850585 $599,000 5/4 6,832 2005 FAIR HILL Draper
851140 $599,000 4/4 5,754 2006 6400 Salt Lake City
850844 $549,900 6/3 4,586 2004 LUCAS South Jordan
850663 $549,000 6/4 3,529 2006 IRIS MEADOW Highland
850878 $516,900 7/5 7,182 2004 CANYON HEIGHT Cedar Hills
850968 $509,900 6/4 5,637 2005 PARKFIELD Holladay
850030 $499,900 7/4 6,388 2003 WYLIE Draper
850437 $499,900 4/3 5,015 2007 SANDERS Sandy
851004 $499,000 5/4 4,809 2008 WHISPERHOLLOW Draper
850645 $489,900 2/2 4,400 2008 VINE BEND Salt Lake City
850743 $489,900 8/6 8,568 1980 DEER Sandy
851002 $489,000 3/3 5,457 2008 MOSIAH South Jordan
850714 $485,000 3/3 3,753 2007 SHAYS GROVE Murray
851319 $475,000 6/4 6,188 2003 4000 Bluffdale
850908 $450,000 4/2 2,592 1925 MICHIGAN Salt Lake City
851000 $449,000 5/4 4,709 2008 WHISPERHOLLOW Draper
851096 $449,000 3/3 4,396 2008 MOSIAH South Jordan
850940 $439,900 3/3 4,151 2006 HIGHLAND Bountiful
850380 $439,000 3/3 3,902 2007 1280 Spanish Fork
850443 $435,900 6/4 4,705 1976 HIDDEN OAKS Cottonwood Height
851256 $435,000 8/5 4,704 2002 6580 Highland
850728 $419,900 2/2 3,311 2008 BLUE FLAX Murray
850565 $419,899 6/5 5,175 1986 RIDGEHILL Bountiful
850068 $399,900 5/3 5,300 2006 1800 Kaysville
850761 $399,900 4/3 4,714 2006 WINGED TRACE Draper
850246 $399,000 3/3 5,467 2008 MOUNT AIREY Eagle Mountain
850088 $395,000 7/4 5,312 2006 950 American Fork
850886 $389,900 2/3 4,000 2006 1500 Ogden
851072 $381,080 3/3 4,244 2008 11340 South Jordan
850629 $380,000 6/4 4,583 2005 MORNING LIGHT Herriman
850891 $380,000 4/3 4,240 2007 WICKFORD West Jordan
850130 $379,900 5/3 4,138 2006 RIVER VIEW Bluffdale
850967 $375,000 4/4 3,983 1988 DIMPLE DELL Sandy
850394 $370,000 4/3 4,817 2006 10305 Salt Lake County
850744 $370,000 5/4 4,126 2001 CHIP South Jordan
851135 $364,900 4/3 4,176 2007 FARMVIEW South Jordan
850915 $363,500 4/4 4,565 2000 NATIONAL South Jordan
850516 $349,900 4/3 3,064 2006 EAGLE Sandy
850047 $344,900 5/4 3,896 1997 700 Payson
850661 $340,000 6/4 3,529 2006 IRIS MEADOW Riverton
850948 $339,000 6/4 5,013 1985 WASATCH Sandy
850341 $338,000 5/4 4,102 2007 SIERRA Layton
850679 $305,000 2/3 3,794 2004 13000 Herriman
850615 $304,900 4/2 2,414 1927 2300 Salt Lake City
850861 $299,900 4/3 3,946 2005 3150 Davis County
850713 $299,000 4/2 3,410 2007 290 Spanish Fork
851311 $299,000 5/3 4,400 2005 AVALON Cedar Hills
851323 $299,000 4/3 3,117 1988 PERUVIAN Sandy
850722 $295,000 3/2 3,297 2007 WEISS South Jordan
850731 $289,900 4/3 3,234 2007 CHESTNUT Lehi
850945 $289,000 6/3 3,554 2006 BLUEROCK South Jordan
850043 $286,500 3/2 3,538 2005 EIGHT IRON Saratoga Springs
851201 $284,900 4/3 3,257 2006 SUMMER LEAF Draper
851170 $280,000 4/4 4,002 2007 950 Riverdale
850676 $273,500 4/4 2,201 1987 WILLOW HILLS Sandy
850388 $266,900 4/2 3,158 2004 BOULDER CREEK West Jordan
850370 $265,000 5/3 3,352 2002 980 American Fork
851217 $265,000 3/3 3,494 2006 MADISON NAN West Jordan
851339 $264,900 3/3 3,736 2007 3375 West Haven
850244 $261,000 4/3 2,734 2006 PINE SHADOW South Jordan
850704 $259,900 3/3 3,636 2006 SIERRA Layton
850319 $250,000 4/3 3,588 2008 ROSE HEARTY Eagle Mountain
850017 $249,900 4/3 3,636 1993 COTTONWOOD Cedar Hills
851282 $249,000 3/2 3,297 2006 925 Syracuse
851370 $240,000 6/4 3,272 2003 8260 West Jordan
851242 $239,900 4/3 2,656 2006 350 Springville
850303 $234,900 4/3 3,589 2004 PROSPECTOR Eagle Mountain
851230 $230,000 4/3 2,416 2006 LONE TREE Eagle Mountain
851144 $229,900 5/4 2,923 2006 950 Provo
851366 $219,000 4/4 2,560 2001 3950 Riverdale
 

Receive New Foreclosures Daily!    click here >
 
851275 $215,000 5/4 2,945 1986 2150 Layton
850517 $209,900 3/3 2,380 2003 1620 Lehi
850145 $209,000 5/3 2,440 1973 MOUNT VISTA West Jordan
850414 $208,500 5/2 2,164 1986 1200 Midvale
851163 $205,000 4/2 2,772 1954 8400 Sandy
850812 $204,900 4/2 2,521 1974 SAVANNAH Sandy
850219 $199,900 4/2 1,866 1991 5735 Taylorsville
850049 $199,000 4/3 2,044 2001 RIVER ROCK Salt Lake City
850056 $199,000 5/3 1,937 2004 BRANDING Salt Lake City
850159 $199,000 3/3 2,338 2008 RYKER VISTA Murray
850907 $199,000 3/1 1,976 1929 1300 Salt Lake City
851151 $199,000 5/3 3,300 2001 520 Tremonton
850879 $195,000 4/3 2,846 2007 PONDEROSA Eagle Mountain
850189 $194,900 3/3 2,267 2008 RYKER VISTA Murray
850252 $194,900 6/2 2,424 1997 3500 West Valley City
850642 $194,900 2/2 2,389 1954 1100 Provo
850446 $191,000 5/3 2,496 1985 ELBERTA Pleasant View
850294 $190,500 4/1 1,714 1986 8620 West Jordan
850230 $190,000 5/3 2,160 1962 WHITEHALL West Valley City
850824 $190,000 4/1 1,420 1996 LANCASHIRE CIR White City
850511 $189,900 2/1 1,212 1922 1000 Salt Lake City
850378 $185,000 3/2 3,064 2007 PONDEROSA Eagle Mountain
850109 $183,900 5/3 2,850 1956 TAYLOR South Ogden
850754 $180,000 4/2 1,600 1999 240 Santaquin
851328 $180,000 4/3 1,726 1992 6290 West Valley City
850069 $179,900 4/1 2,517 1979 725 Layton
850162 $179,900 4/2 1,752 1970 FLINT Sandy
850668 $179,900 3/3 2,027 2007 AILEE Salt Lake City
850740 $179,900 4/3 1,840 1982 WILLOW WOOD West Jordan
850759 $179,688 4/2 2,474 1986 950 Orem
850621 $177,000 3/3 1,850 2002 ALPINE Provo
851090 $176,900 5/2 1,851 1993 2825 Layton
850753 $175,000 4/3 2,230 2001 GERONIMO Eagle Mountain
850606 $174,900 3/3 2,439 2007 CUNNINGHILL Eagle Mountain
851138 $174,900 5/3 2,572 1999 CATTLE Eagle Mountain
851267 $174,900 3/3 1,404 2000 VALLEY HAVEN West Valley City
850822 $170,000 3/2 2,016 1926 PARK Copperton
851125 $170,000 4/2 1,568 1985 4180 West Valley City
850281 $169,900 4/2 1,743 2001 5150 Riverdale
850586 $169,900 3/3 1,950 2007 CUNNINGHILL Eagle Mountain
850616 $169,900 3/3 1,970 2007 DESERT CANYON Eagle Mountain
850859 $168,900 4/2 1,572 1972 APPLETON West Valley City
851313 $164,500 4/2 2,368 1998 2400 Clinton
850741 $160,000 4/2 2,309 1977 1200 Clearfield
850386 $159,900 4/1 1,738 1972 3600 Taylorsville
850587 $159,900 3/2 1,480 1980 12920 Riverton
850548 $156,000 2/2 1,621 1911 200 Provo
850894 $154,900 3/1 1,552 1980 LODESTONE Salt Lake City
851287 $154,900 2/2 1,501 1917 CENTER Midvale
850098 $150,000 4/2 1,998 1973 600 Payson
850684 $149,900 4/2 1,594 1985 MARTIN West Valley City
850690 $149,900 2/1 1,461 1984 UNIVERSITY PAR Layton
851288 $149,000 4/2 1,850 1964 13320 Riverton
850566 $148,900 3/3 1,123 2004 SHADY RED Salt Lake City
850057 $146,500 4/1 1,524 1981 3825 West Valley City
850974 $141,900 3/2 2,196 1962 930 Sunset
850574 $139,900 3/1 1,422 1988 MIDLAND Roy
850619 $139,900 3/1 2,126 2007 500 Brigham City
850932 $134,900 5/2 2,014 1984 150 Clearfield
850632 $130,000 3/1 1,104 1932 800 Payson
850807 $129,900 3/2 1,824 1948 2500 Roy
850871 $122,000 4/3 3,946 2005 3150 Roy
850525 $119,000 3/2 1,390 2007 AMERICAN Eagle Mountain
850271 $114,895 2/2 920 1974 LESTER Murray
850177 $106,000 2/1 828 1977 BLAIR South Salt Lake
850202 $106,000 2/1 828 1977 BLAIR South Salt Lake
850902 $105,000 5/2 1,612 1958 GRANT Ogden
850798 $92,000 3/2 1,254 1999 GETTYSBURG Ogden
850138 $90,000 2/2 1,087 1999 GETTYSBURG Ogden
851147 $69,000 3/1 1,525 1920 27TH Ogden
851171 $64,900 5/2 2,100 1907 30TH Ogden
850324 $56,100 1/1 909 1923 200 Tremonton
850847 $55,000 3/1 1,065 1907 21ST Ogden
 

To Receive New Foreclosures Daily!    click here >
 
Source:  Wasatch Front Regional Multiple Listing Service
 
*Please note, not all listings are bank foreclosures.  Mixed in are all as-is, short sale, and distressed owner properties.  Once in a while a listing will slip by us that doesn’t fit any of those categories and shouldn’t be on this list.  If you would like more detailed information about any particular listing, call 801-589-7288.
 

Thanks for being part of the NorthernUtahHomes.com community.

* Banks say “thanks, but no thanks” to Auction Bidders

Published October 14, 2008 * Real Estate Information 1 Comment
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The recent bank foreclosure auction conducted by Eric Nelson and his team is turning into a disappointment for many. 

According to KUTV news, the banks have turned down every high bid from September 30th’s auction event. 

As I discussed in an earlier post, all final bids were subject to the bank’s final approval.

This surely comes as a shock to many who left the Wells Fargo Tower thinking they’d just secured the purchase of a lifetime.  Many of the properties auctioned that night went for a fraction of what they were estimated to be worth.  Building lots that would normally retail for $220,000 were selling for between $80k-$95k.  Similarly, the single family homes that were auctioned that night brought relatively low prices aswell.

Participants who won high bids however are not always flat out rejected.  Often, if the bank is unwilling to accept a buyers high bid, they will present the bidder with a “counter-offer”, a price that would be acceptable to the bank.  Only, that defeats the purpose, doesn’t it?  or does it?

Some say that the entire auction was a “gimmick”.  An event that is promoted only to spotlight stagnant real estate, bring real buyers out of the woodwork, and then negotiate a mutally agreeable purchase price.   And well, since the banks have apparantly refused every offer, it would be hard to argue otherwise.

Apparantly, the auction bidders aren’t the only ones not feeling the love.  According to KUTV, due to the unprecedented move by the banks, the auction company is out some $50,000 in operations and marketing costs.

* Buyers find “Steals” at Last Night’s Real Estate Auction

Published October 1, 2008 * Buying , * Real Estate Information 4 Comments
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There was standing room only in the Elegant ballroom on the 23rd Floor of the Wells Fargo Tower last night.  Another real estate auction creates a frenzy of Utah home-buyers seeking “deals”.

Last night Eric Nelson and his ENAuction team unloaded some 58 properties in just a matter of hours.  Find a list at www.enauction.com.   Similar to the bank foreclosure auction conducted earlier this summer, buyers had to register in advance and deposit a refundable $10,000 cashiers check to participate.

ENAuction at Wells Fargo Tower on June 12th, 2008

ENAuction at Wells Fargo Tower on June 12th, 2008

All properties seemed to sell for significantly less than their “estimated values”.  In fact, some properties went for a mere 25% of what they were noted to be worth.  All sales however, are ”subject to approval”.  Basically, the seller reserves the right to reject any or all of the high bids from last nights auction.

Some argue that the auction is merely a gimmick to generate interest and bring buyers to the negotiating table.  Several bidders from the previous auction expressed deep disappointment when they discovered that the bank had rejected their high bids.  Based on the auction conducted in June, approximately 40% of the properties did not get approval to sell for the auctioned prices.  Nonetheless, that means that roughly 60% of the high bidders did walk away with a property, and at their price.

If you attended either last nights auction, or June 12′s auction, feel free to post a comment.  I’d like to hear your perspectives, especially if you were a participant.

* To receive updates on upcoming Real Estate Auctions, submit your request here.

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