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!