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Utah is counted among the industrialized states of the country. Machinery, mining, food processing, aerospace, electric equipment, and tourism are the mainstay of the state's industrial economy. The agricultural economy thrives on the produce of cattle, dairy products, hay, and turkey. Utah was admitted as the forty-fifth state in the United States constitution. Unemployment in Utah is 30.1%, much lower than the national level. Median household income is marginally higher than the national average, but per capita income in Utah is significantly lower than the national average.
Despite the high employment levels in Utah, wages had remained static at low levels. The spike in interest rates in the past 3 years had contributed further in home mortgage loan defaults. Higher proportion of vacant houses and premature foreclosures had been the net result in the capital city of Salt Lake City, and in the 29 counties of Utah. Property prices had taken a nosedive. However, this works to the advantage of new homebuyers and long-term investors in properties.
The misfortunes in the real estate market of Utah had largely followed the national pattern of more than 1.5 million bank foreclosures in 2005. Hence, this situation presents a favorable scenario for new homebuyers and real estate investors to purchase properties at rock bottom prices in Utah and elsewhere.
At foreclosurelistings.com, we had maintained our close contacts with the local banks, realtors and government departments of Utah to glean data about the foreclosures in the state. We update the list everyday to keep it current. You could sort the list by categories of pre-foreclosures, foreclosed properties, listings of forthcoming public auctions, and bankruptcy foreclosures, or you could sort them by county. This list as exhaustive as our national catalogue that contains more than 500,000 foreclosure entries.
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