In Utah, HUD listings are posted on the internet every Friday. In my early days of real estating, I diligently looked every Friday to see if there were any new HUD homes in the Logan area. Most Friday’s there weren’t any HUD Homes in Cache Valley. There were always a few in Ogden, but rarely were there any in Logan. At that time, I’d estimate that there was maybe one new Hud home every two weeks. Because the pickings were so slim, I soon lost my zeal for checking for new HUD homes every week, because there just weren’t enough of them.

Well, as evidence that foreclosures are increasing in Cache Valley, HUD home numbers are way up. There are currently 12 homes for sale in Cache County that are HUD properties. These include townhouses, condos, manufactured homes, ramblers and bungalows. Most of these homes are priced at less than $100,000, and the most expensive of the HUD homes currently for sale has a list price of $145,000. Some of the properties are only available to people who want to owner occupy them, but most of these homes are now open to all bidders.

Click this link if you want to view the currently listed HUD Homes in Cache Valley Utah.

Cornerstone Real Estate is a certified HUD Broker. If you would like to take a tour of any of the HUD homes in Northern Utah or Southern Idaho, contact a Cornerstone Real Estate agent today at (435) 227-5595.

Here are a few of the Newest Hud Homes:

via Logan Utah Real Estate Market Conditions: Cache County Home Sales Up, Condo Sales Way up for First Half of 2010.

via Logan Utah Real Estate.

City    Year Over Year Improvement    Price Change    Months of Inventory
Clearfield Real Estate 14.81%    -4.45%    6.15
Salt Lake Real Estate 35.21%    -15.17%    7.13
Layton Utah Real Estate 21.21%    -7.74%    7.3
West Jordan Real Estate 21.90%    -6.36%    7.65
Draper Real Estate -16.39%    -6.00%    7.86
Herriman Real Estate -13.64%    -7.09%    7.89
Sandy Ut Real Estate 19.27%    -11.36%    8.12
West Valley Real Estate 35.06%    -8.99%    8.44
Bountiful Utah Real Estate 21.88%    -3.85%    8.63
Ogden Utah Real Estate 20.00%    2.42%    9.06
Box Elder County 47.62%    3.13%    9.16
South Jordan Real Estate 1.82%    -3.38%    10.15
North Ogden Real Estate 27.78%    -12.56%    11.06
Salt Lake Condo Sales 6.25%    -6.64%    12.88
Cache County Real Estate 16.25%    -10.03%    14.46

These numbers are just of March Sales only, so the sample size is probably not big enough to provide an accurate estimate of how real estate market trends really are. A few abnormal homes that happened to sell in a particular city could greatly change the numbers.

There isn’t really a clear cut area where the real estate market is substantially better than the others. Clearfield does appear to be the most balanced of the cities in this sample. It saw less than a 4% drop in the median price of homes sold, and has the lowest monthly inventory based on March’s home sales.

One interesting thing to notice is that many of the areas that had high year over year march home sale improvements, like Cache County, still have high levels of inventory. With the number of homes for sale in Cache Valley, I think it is safe to say that we don’t have the healthiest real estate market in Utah anymore.

Unfortunately this just isn’t true. Not sure where his friend got his information from. In the last three years there haven’t been any homes in Nibley that have even sold for less than $100,000. The closest was a 2 bedroom, hundred year old farm house on the highway that sold for $100,750 two years ago.

Of the current Nibley homes listed, the least expensive is that same hundred year old 2 bedroom Nibley Farm House; now its list price is $119,500. Nibley also has two bedroom Spring Creek Townhouses that are listed for $119,900.

Is it possible to find any real estate in Cache Valley for around $50,000?

Yes, occasionally real estate in Cache Valley is priced around $50,000. But it’s going to be either a mobile home without land (not actually real estate), meth-house, or complete fixer upper. Also, Mt. Aire Garden Condos can sometimes be purchased for close to the $50,000 range, one sold for $64,000 last year.

Last Year a 3 bedroom Meth House in Smithfield sold for $69,900, a strange 780 square foot green pre-foreclosure twin house sold “as is” for $49,523, and an 1894 built home in Richmond sold “as is” for just $40,000.

So while it is possible to get homes for around $50,000 in Cache Valley, these properties aren’t going to be quality “nice homes.”

View all Cache Valley Homes for Sale Now!

There has recently been some changes with the way American Family Insurance determines rates and risk. Now they use credit as a determination of insurance risk. This is for both homeowners insurance and auto insurance. If you have excellent credit it is assumed that you are more responsible.

American Family Insurance also offers a new purchase discount for the purchase of homes. Basically they treat new customers better than the old ones. There is also a discount for the purchase of new homes. New homes are less risky than older homes.

Earthquake Insurance is offered through American Family Insurance, after recent natural disasters, some insurance companies no longer offers this coverage. Josh claims that they can offer home and earthquake insurance for about the same price that other companies offer just home owners insurance. Earthquake insurance for a typical Cache Valley house would be about $12 a month.

When buying a condo, owners need condo insurance, not renters insurance. The difference is that renters insurance just covers personal property, condo insurance will also cover the interior of the condo in case of damage. A lot of people who have lived in Logan Condos for a long time just have renters insurance.

There are also factors regarding the condition of the home that may make it un-insurable. If the electrical wiring is old, a home owners insurance policy may be canceled after it is inspected. If there aren’t railings on front porches more than two feet high, your house may also be un insurable.

For those that don’t own real estate yet, for the perennial renter, perhaps this is the year to change. This is the year to actually do something an purchase yourself a home.

According to David Bach, the Author of The Automatic Millionaire, the average homeowner has more than six times more net worth than the average renter.

Owning real estate, with a long term plan, provides an automatic savings plan, one of his keys to building wealth. What some people fail to realize is that when buying a home you are actually working to pay it off.

The sooner you buy, the sooner you’ll be able to start paying your home off. With mortgage rates as low as they are right now the affordability of buying using mortgage financing is likely the least expensive it will be for a very long time.

So if you are a perennial renter, as you set your new years resolutions, make one of them the goal to purchase yourself a home or condo in 2010.

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.

via Logan Utah Real Estate Market Conditions, Statistics, and Information: November Home Sales up 37% from 2008.