Otherwise known as an REO or a 'bank owned' property, there are several properties like this to choose from in any Utah Community. Like many real estate markets across the country, as the great recession hit in late 2007, many residents quickly found themselves unemployed and other difficult financial circumstances that made it impossible to make house payments. As a result, banks foreclosed an many Utahns lost their homes and were displaced. The surplus of REOs in the market quickly led to a decrease in market values. Banks have slowly re-integrated these vacant, sometime dilapadated homes back into the real estate market and as a result, Utah home prices are starting to rebound. What's more, an REO property offers potential homeowners a terrific value, especially in a market where inventory is still scarce. Our skilled agents have training and experience to navigate a buyer through the complexities of purchasing a bank owned property.