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Foreclosures & Short Sales in Orem, Utah
Orem sits in the middle of Utah County, between Provo and Lindon, with Utah Valley University anchoring the east side and the Wasatch Front's Timpanogos peak towering above the benches. It is also one of the tightest, most owner-occupied markets in the state, with median prices running roughly $480,000 to $520,000. Distressed inventory here is rare. Utah's foreclosure rate has stayed among the lowest in the country since 2012, and most Orem sellers who fall behind have enough equity to sell conventionally. That means a true foreclosure or short sale listing is worth a close look when one appears.
Most of what you'll see falls into two groups. Bank-owned (REO) homes have already gone through Utah's trustee sale process, which is non-judicial and moves faster than in many states. Short sales need lender approval of a price below the loan balance, and approval can take anywhere from several weeks to a few months. Orem's older stock, such as 1960s and 70s ramblers near State Street, Geneva Road and the Cherry Hill area, often needs updating, which is where much of the discount comes from. Student rental demand near UVU and BYU also draws investors, so competition can be real. Get pre-approved and line up an inspection before you write an offer. Browse the active listings below to see what's currently on the market.
September 2026 · Orem market
Live from the Utah MLS — what's actually happening in Orem right now.
Median sale
$482,445
28 closed in September 2026
Median DOM
56 days
listing → contract
Sale-to-list
99.1%
of final list price
Unsold inventory
255
active + pending
1 matching · page 1 of 1
Active listings
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Common questions
About foreclosures & short sales in Orem.
Are foreclosures common in Orem? ▾
No. Utah County has had very low foreclosure activity for years, supported by strong job growth, rising values, and heavy owner equity. Expect only a handful of distressed listings at any time, so check back often or set up a saved search.
What's the difference between a foreclosure and a short sale? ▾
A foreclosure (REO) is a home the bank has already taken back and sells directly. In a short sale the owner still holds title and the lender must approve a price below what is owed. Short sales usually take longer to close and the seller, not the bank, is your counterparty until approval.
How long does a short sale take to close in Orem? ▾
Plan on about 45 to 120 days, depending on how quickly the lender responds and whether there is more than one lien. Ask the listing agent whether the lender has already issued an approval letter or is still reviewing, since that changes the timeline significantly.
Are foreclosures in Orem sold as-is? ▾
Usually yes. Banks rarely make repairs or offer credits, and some utilities may be off at showing. Still do a full inspection, including sewer line, roof, and furnace, so you know the repair costs before you close.
Can I use an FHA or VA loan on a foreclosure? ▾
Often, but the home must meet the program's condition standards, which can rule out properties with major damage. Renovation loans like FHA 203(k) or Fannie Mae HomeStyle can work for homes needing work. Talk with a lender before bidding.
Do foreclosures in Orem sell below market value? ▾
Sometimes, but discounts tend to be smaller in Orem than in weaker markets because demand is strong and multiple offers are common. The real savings usually come from homes needing updates, so compare the price against recent sold comps and your repair estimate.