Cratered land values in southern Utah
Tue Nov 24 2009 1:50 pm
by Bob Morris.
Five acres of land zoned for agricultural and residential in southern Utah (located near a freeway with water rights for a home) sold three years ago for $110,000. A few days ago it went at a foreclosure auction for $14,500. That’s a 87% drop in price.
Many other properties in the area are also for sale. We tend to think of the real estate crash as being mostly urban, but rural areas have been severely affected too.
Posted in: Unfiled.
Tagged: real estate crash · Utah
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