Hello Leola,

Herriman is a unique segment of the Salt Lake County real estate market; there are a few factors at work in this area causing the increased inventory and slightly higher REO & Foreclosure ratio. A few main reasons are faster growth over the past 3-5 years compared to the other parts of SL County. The average size and price of the homes (see stats)


Summary - 84096
Report Date: Tuesday, February 5, 2008

Zip Code: 84096
Status: Active
Quantity: 369
Volume: $155,635,990
Ave. Price: $421,777
Price/Foot: $117
Ave. Sq. ft: 3,620
Ave. Beds: 4
Ave. Baths: 3

Another factor is some investor and home buyers speculation, when Herriman was more affordable the builders were building like crazy and the buyers could not get enough. Now that the mortgage market has tightened the basic guidelines and made buyers be better qualified to purchase homes across the board the upgrade buyers who were flooding this area are now fewer and further between. Some of the buyers who came into this area over the past 3-5 years were victims of the mortgage debacle and are being forced to sell because of adjusting rates or for taking loans they could not afford period. There are many of these homes available at or below their previous appraised value. If you are looking to buy low and sell high in a very short time Herriman probably not the top choice, if you are looking for a longer term investment (3-5 years) or a family home (5+years) that you will find some great values!

Herriman is still a great place to buy, the community is well planed with many parks, walking trails, and open space, commercial and infrastructure growth are in high gear. the community will rebound from this slight residential slowdown and will continue to grow and be a great place to live.
As a real estate professional and a 14 month resident of Herriman, I would be happy to answer any more specific questions about the area. Please call Kristopher Furrow, Realtor® - RealEstate.com Realtors® 801.916.0815