Can It Really Be Fall ? Naisbitt-Bagley Team Real Estate Newsletter!
I certainly feel fall in the air! BE SURE TO WINTERIZE! FREEZING TEMPERATURES HAVE ARRIVED!
The Utah Association of REALTORS (UAR) Local Market Updates by County for July 2013 have arrived. Since it takes UAR a couple of months to compile the statistics from all of the county board offices, these are the latest available today. This Report shows the closed sales and Median Price for all counties.
The IronCounty closed sales were up 38.4% in July this year versus July 2012. However, if we look year to date (YTD) as of July 2013 as compared to July 2012, the closed sales are down 3.5%. The Median Sales Price is up 21.7% YTD to $129,000 as compared to $106,000 YTD as of 2012.
Homes in CedarCity and surrounding areas are still selling quickly if priced correctly especially in the ranges up to $150,000. We are seeing multiple offers. It is actually a sellers’ market in some price ranges in my opinion. Homes above $200,000 are also selling when priced correctly and also sometimes attract more than one buyer.
Many homes are still priced as bargains and are competing with foreclosures and short sales. However, the buyers are also competing to purchase those bargain-priced homes. There has been a reduction in inventory in homes especially up to $150,000.
We are seeing new construction, and it is indeed attracting buyers. Presold new construction homes are still difficult to sell. It is better to build the home to attract the buyers.
A few Land parcels and lots are sold but are still behind the already built homes. Development land and commercial are slow sales.
We are seeing investors in the market picking up rental homes and fixing up and flipping to make a profit.
Buyers purchasing their own primary residences are still in the lead, but 2nd home buyers have returned often with cash. We are seeing sellers who have had foreclosures and short sales in the past, qualifying now to purchase homes.
There is now a possibility that some buyers who have had short sales and foreclosures may qualify to purchase a home after 1 year if there was a good reason for the default. This is an FHA program.
Interest rates are still great even though they have risen a bit.
Aggressive marketing is required to sell a home or property in this market and it must show well and be priced right. If an offer hasn’t come in within 30 days, call the Naisbitt-Bagley Team to receive updated information and consider a market reduction in price. If the home is not priced correctly, it will not attract showings in spite of the aggressive marketing we are doing.
Please remember the way you show a home and the way most people live in a home are 2 different things. Please call for a staging consultation to make sure your property is shown to the best advantage to attract the buyer to make an offer.
As far as I know, there is no one marketing more aggressively than the Naisbitt-Bagley Team with global on-line marketing with featured ads, banner ads, blogging, enhancements, magazine ads, TV, radio, and much more. The Team pays the Chamber to send Team ads to everyone that contacts the Chamber. Since many of the buyers in our area are out of state, the Naisbitt-Bagley Team targets out of state buyers, in state buyers, as well as REALTORS. Janet may not be the one that sells the home, but her marketing will be the reason it sells.
Contact the Naisbitt-Bagley Team today at 435-865-1019 or text 435-559-7772. You can also email email@example.com. Check out the inventory at www.findhomesincedarcityut.com or www.homesincedarcity.com. Our experienced and knowledgeable Team will work hard and give top service with top technology to help you make your real estate goals a successful reality!