When buying Logan real estate in today's market, you will be hard pressed to find a home that isn't a foreclosure or a short sale.  As we move towards an economic recovery, more and more Logan Utah short sales are coming on the market as homeowners are struggling to keep up with their mortgage payments. The same can be said for almost any market in the US, including the Logan Utah real estate market. 

Today, there are over 50 short sales for sale in the Cache County area making it one of the highest amounts we have ever seen. It makes buying a home a little scary as you can't be sure where our market is headed.  Are we going to stay flat or is the Logan Utah real estate market still declining? 

In order to judge where the future is heading, we must look at the past. In previous years, before the market meltdown, inventory levels in Cache County remained below 500 throughout most of the year. Today, we have over 700 homes on the market, which means supply and demand is on the supply side more than the demand side. 

With more supply than demand, we can probably expect housing prices to continue to decline until the inventory levels become more normal. And, in order to get to the desired amount of inventory levels, we need to get rid of the short sales and Logan Utah foreclosure properties. How can we get rid of these cheaper homes? Simple, the economy needs to create more jobs, lenders need to loosen up on their lending standards, and buyers need to get into the market and off the fence. 

Well, maybe it's not such a simple solution after all. In order for more people to be approved for loans, we obviously need more people to be employed. If the government doesn't create some more jobs in the near future, we can expect short sales and foreclosures to continue to flood the market. 

So, with all the Logan Utah short sale listings increasing, what does it mean? It means we are headed for either a stagnant or declining real estate market in the future. Home prices are expected to continue to decline and this is not good if you're trying to sell. So what should you do as a home seller? If you can, take your home off the market. The more Logan homes sellers we can take out of the market, the more we can reduce market inventory. 

If you have no choice but to sell due to job loss, decreased income, or instability, you have two options. Number one, you will have to price your home extremely competitively in order to sell or you will have to go the short sale rout. If you can't price your home at market value, you have no other choice but to face reality. Homes that are over priced will not sell in today's buyer's market. 

So, if you're a home seller struggling to sell, please contact a local Logan Utah real estate agent to discuss your options about a short sale. If you're a buyer looking to buy, now is a great time to purchase as short sales and foreclosures provide great deals on Logan Utah real estate.