Summer’s Second Sizzling Seller 2015
Summer’s Second Sizzling Seller 2015 Naisbitt-Bagley Team ERA Realty Center Newsletter Update
Summer has seen increased real estate activity and prices that are slightly up for most counties in Utah including Southern Utah. Attached are the Utah Association of REALTORS (UAR) Local Market Updates by County for June 2015. This is the latest report available since it takes UAR approximately 2-3 months to compile these statistics.
Information for all Utah counties is attached. Iron County Year to Date (YTD) closed sales for 2015 as compared to 2014 are up 31.6%. The Median Sales Price is up to $142,700 which is a 3.4% rise. Increases in buyers buying and decreases in inventory in some price ranges are causing slight rises in sales prices.
The Iron County Board of REALTORS’ statistics for 04/01/2015-07/31/2015 have been compiled and are attached. The following information is just a small part of this report: Most buyers purchased homes under $200,000; however, buyers in the upper ranges seem to be increasing. There are 736 homes on the market, 170 under contract and, 421 homes sold. There are 150 condo/townhouses available with 45 under contract and 84 sold. Lot sales still fall behind with 1089 lots on the market, 31 currently under contract, and 98 lots sold. There are 451 acreage parcels for sale with only 2 under contract and 28 sold. Only 1 farm/ranch sold in the last 4 months but two are under contract out of the 16 available. Under contract (UC) means that the seller has signed and accepted an offer from a buyer and there is a contract in place on the property. Commercial properties are not analyzed in the graphs probably due to the fact that only a few have
sold in this market.
You will see in the attached graphs that ERA Realty Center sold more homes and properties than any other office. ERA sold more of its own listings as well as more of the other offices’ listings. This has been true for many years. We appreciate all of our clients and customers for working with us! Thank you!
Our local economy seems to be doing well and our employment rate is good. Interest rates are still really great, so monthly payments are often lowers than rent. Home ownership is a great opportunity now. We recommend both buying and selling in this steady market. All can come out as winners in the world of real estate!
Move-up buyers are in the market according to the REALTOR Magazine. I quote, “…a very encouraging trend that has been developing is the rising participation of trade-up buyers…” There are also buyers looking for smaller homes. Investors are buying single family homes but would like to purchase more duplexes and 4-plexes if there were more newer units available. New construction homes are selling and speculation homes are available for sale. Of course, we always have first-time buyers in our market and buyers moving here from out of state due to our friendly atmosphere and the good feeling that exists in our communities!
Renters are looking for rentals according to local rental managers. Therefore, we believe this is an excellent time to add rental properties to your investment portfolio! Owning a rental property in a college town is a great idea! Why not let a tenant purchase a home for you! You can have a little extra income along the way; and when the building is paid off, use the money for retirement, your children or grandchildren’s college education or a fun trip, and etc. I don’t know of any other investment that someone else actually buys for you! I do practice that advice and own several rentals. I am truly grateful to my tenants for purchasing them for me. The benefits definitely out-way the downside in my opinion.
Our Naisbitt-Bagley Team’s
aggressive marketing is still the best which we will continue to do for you. Pricing and staging are also important in order to mark that home or property sold.
Please call our Naisbitt-Bagley Team at 435-865-1019 for your free consultation and market valuation to make sure your “Price is Right.”
We advertise your real estate all over the world, so you should be getting activity and offers if pricing and staging are competitive.
Some ideas on home-staging are as follows:
Make sure there are no odors in the home! According to REALTOR Magazine, “Nothing turns off potential buyers and lowers the value of the home faster than bad odors.” Substitute bad with good! When an agent called me to show my home when I sold it in Oregon, I put cookies in the oven and ran around making sure my home was spotless. When the cookies were done, I put them in a bag and the kids and I took a walk while the aroma of fresh-baked cookies filled the air! I was hoping the buyers would have memories of childhood and mom baking cookies in their minds as they toured my home. Check out your curb appeal. Buyers sometimes won’t even go in a home that doesn’t have it! First impressions are so very important. Buyers purchase a home approximately 90% on emotion, so you want your buyer to feel warm and fuzzy as buyers tour your home. I recommend working on a room at a time. As I go into each room, I say to myself, “Light and space.” You are
going to move anyway, so immediately is the time to get rid of junk and pack the stuff you aren’t using every day. I take 3 boxes or bags with me into each room. One is for garbage and one is for donations to a thrift store. The third is to begin packing. Some sellers rent a storage space, but some put boxes along one side of the garage. When I moved from Oregon, I had desks in each of my children’s rooms for homework. Since I had 7 children, those desks took way too much space. A kind neighbor let me store them in her garage until we sold the home and moved. There should be only one or two really nice decorations or plants on a table or desk and not too many pictures on the wall. Cleaning out cupboards, closets, linen cupboards, and laundry cabinets will help the buyer to know there is space for everything. Now is the time to fix-up, clean-up, repair and paint. Fresh paint and nice flooring help sell the home! Make sure the kitchen and bathrooms show well. Make sure the yard is spiffy. Pictures of your home are or will be online all over the world when you are listed with our team! To quote national home staging expert, Barb Schwarz, “The way you live in a home and the way you show a home are not the same.”
Please feel free to call our Naisbitt-Bagley Team at 435-865-1019 for more helpful hints or to borrow our informative DVD or email firstname.lastname@example.org.
To answer questions and concerns, please text or call Matt Bagley at 435-590-8788, Jennifer Corral at 435-559-0366 and Janet Naisbitt at 435-559-7772.
We would love our experience, top training, top service and expertise to benefit you in all stages of your real estate transaction.