Tuesday, December 29, 2009

Multi Family Home Sales in Logan Improving

Home Sales of Multi Family Homes in Logan, Duplexes, Triplexes, and Fourplexes are improving. They are definitely not outstanding, but over the last three months they have been up compared with the rest of the year.

There are currently 9 Duplexes for Sale in Logan, and 26 Tri and Fourplexes for Sale. This includes most of the Multi-Family properties for sale in Cache County. Outside of Logan there are three additional duplexes for sale found in Smithfield and Hyrum, and one additional fourplex for sale.

In the last year 15 Duplexes in Cache County have sold. With the current 12 on the market, this gives Cache County 9.6 months of inventory at the annual rate. But, during the last three months 5 Cache County Duplexes have sold. This is just 7.2 months of inventory at the past three month pace.

Inventory of tri and four-plexes has also seen improvement, but the numbers are still pretty dismal. Cache County currently has 27 tri/fourplex properties for sale. In the last year, just 13 of these properties have sold. This is more than 2 Years of inventory! But, over the last three months there have been 4 fourplexes sold, which lightens the blow a little bit and brings the active inventory down to 20 months.

Overall there still just isn't a lot of buyer activity for investment properties in Logan. By far, duplex purchases have been the most popular. It's a tough market to try and sell four-plexes.

You can view all the MLS listed Duplex's, Triplexes, and Fourplexes for sale in Logan here.

Friday, December 11, 2009

Cache County Sellers are Getting Closer to Ask Price

Cache Valley home sellers have been getting 6.5% less than their original list price when selling their homes the last two months. This is closer to the original list price than we've seen in a while.

This tells us that either home buyers are offering more, or else sellers are now more realistic with their original list price. From April-September, the average sales price of Cache County Utah Real Estate was more than 10% less than the original list price.

Wednesday, December 9, 2009

Short Sales in Logan Utah

There are currently 12 Short Sales in Logan Utah, and 35 in the smaller Cache Valley cities. This is up slightly from last month. Currently, 6.37 percent of all active listings are Cache Valley Short Sales.

Five of the current Logan Short Sales have already been approved by the bank. This means the purchase transaction shouldn't be much different than an ordinary transaction from the buyers standpoint. The other 62 Cache County properties listed as short sales still require bank approval before closing can actually take place. This means the real estate transaction could take many months, or may not actually even happen at all if the bank isn't willing to allow the short sale.

Here are the five Cache Valley Short Sales that have supposedly already had bank approval. Two of these are huge houses in the North Logan/Hyde Park area.

Click this link to view all Cache Valley Short Sales for Sale.

Friday, December 4, 2009

November Home Sales up 37% from 2008

Cache County home sales were up 37% compared with November of last year when just 51 residential homes in Cache Valley sold. So far, 81 Cache Valley homes have been reported sold by the MLS.

The huge increase in home sales can largely be attributed to the scheduled expiration of the first time buyer tax credit. Although it has been extended, many people purchased Logan real estate because they were trying to beat the expiration.

With many of the homes purchased by first time buyers, the median price of homes sold in Logan was also substantially down. The median sold price was just $150,000, the lowest it has been in years.

Even though home sales were up compared with last year, they were down compared with October. The amount of homes for sale in Logan only declined slightly during November. At November's home sales rate, there is currently 9.3 months of active real estate inventory in Cache Valley. The actual number of homes on the market has gone down, but as a ratio the inventory is up.

Hyrum Utah Homes for Sale less than $150,000

Hyrum Utah is a unique community in Cache Valley. It offers some of the most affordable homes for sale in the valley. There are many starter homes for sale in the Hyrum Area.

Currently there are 16 homes for sale in Hyrum for less than $150,000. There are also a few condos as well. Many of these homes are newer homes on the east bench of Hyrum, although some are also old farm homes in the older portions of Hyrum. Hyrum also offers condos for sale in the Elk Mountain neighborhood.

Here are some of the best deals of Hyrum homes for less than $150,000:

There are just two homes for sale in Hyrum for less than $100,000. One of them is a manufactured home, while the other is actually a partial ownership cabin up blacksmith fork canyon. This price of just $33,000 is really misleading to viewers on the MLS, as it appears that a 3,800 square foot home is just $33,000.

Visit Hyrum Utah Real Estate, for more information about Hyrum Utah Homes for Sale for less than $120,000, Hyrum Utah real estate market statistics, or more information.