George, Home Buyer in Salt Lake County, UT

is there any properties that i can buy at like $5,ooo with out going to auction?

Asked by George, Salt Lake County, UT Sun Jan 24, 2010

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This question is about this property: http://www.trulia.com/foreclosure/3000345636--N-Bliss-Ct-Sal…

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NO....NO WAY, not in SLC Valley. Too many people are watching late night infomercials! Yes, our market is bad but for $5K you can't even get a time share here still. The best way to compare apples to apples and value a home is a price per foot analysis. Some of the BEST deals I have seen in SLC are nice homes that sell for around $50 a foot. A live example is the home in Sandy UT that in July last year sold for $250K flat and it was OVER 5000 square feet. Address is 1793 E CRESCENT VIEW DR.
There ARE some homes nationally that really have sold for $5000. They usually are in packages for FDIC repossessed bank deals where you get many of them for $5K a house. Usually thought they are homes that are worthless and should have no value.

Hope that helps!
Web Reference: http://www.utahcribs.com
1 vote Thank Flag Link Mon Jan 25, 2010
Sure thing if you are going to buy 300 + homes in a package, and all of them will most likely be in the rust belt area.. Example... Detroit Michigan.. In Utah? Not a chance I like Jake's answer.. He is spot on..
Web Reference: http://utahcribs.com/
0 votes Thank Flag Link Mon Jan 25, 2010
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