December 2016 Naisbitt-Bagley Team Winter Wonderland Exciting Real Estate Newsletter!
First and most important of all, we wish you a very Merry Christmas! Happy Holidays! and the best New Year yet!
Who wants to know about what is going on in the real estate world–just about everyone! Everywhere we go the questions come quickly! Answers are:
In case you are wondering, the market is steady and moving upward at a healthy pace! It is awesome! Utah is actually #5 in the top 10 states that have the lowest foreclosure inventory with only 0.3% according to DS Journal December 2016. Our closed sales are up and so is our median price as you can see in the attached report. There would be even more sales if the inventory increased. We do need more homes on the market! People are employed and our economy is positive. Also, according to the “Spectrum and Daily News” on December 9, 2016, both Washington County and Iron County have added new people to their fine communities. Washington County’s population is now 160,359, and Iron County’s is 50,742; both follow the “statewide trend of accelerating growth.” The front page article informs, “The state continues to experience annual population growth that serves as further evidence of relative economic strength of the state” according to director of demographic research director at U of U Pamela Perlich. It is obvious to me that our real estate market and economy will continue to grow and improve! 2017 looks great!
What about local real estate? According to the Utah Association of REALTORs (UAR) most recent county statistics available, Iron County closed sales are up 0.9% and the median sales price is up 10.3% to $165,000. Beaver closed sales are up 10.8% and median sales price is up 7.4% to $131,000. Washington County closed sales are up 7% and median price is up 6.7% to $239,900. See attached report for more details and for every county. Southern Utah’s upward trend is following the state’s success.
Another question we REALTORS get as we join just about any crowd is whether or not winter is a good time to sell? The answer is a resounding YES! It is true that there are fewer buyers, but there are also not as many homes on the market which means less competition for homes for sale. We have noted that people rarely just look this time of year. If a buyer wants to brave the weather, cold, storm and ice, they seriously want to find a home ASAP! It is an exciting time of year to acquire real estate as buyers are moving into warm and cozy homes even while the weather outside is frightful! Our favorite is when our buyers really love their homes, and I believe owning a home when it is freezing outside is especially wonderful. I was so icy cold when I came home last night that I couldn’t help but be extremely grateful to feel the delightful blast of cozy heated air of my own home!
What about the question we often hear, “Is it better to rent or buy?” According to the article titled, “The Great Housing Debate…,” Trulia recently did a study and found that the “long term financial benefit of purchasing a home significantly outweighs renting.” According to December DS Journal, “Trulia compared the total monthly costs of owning and renting, including mortgage payments, maintenance, insurance, and taxes. It also factored in one-time closing costs and payments, sale proceeds, and security deposits.” I hope this puts the question to rest. I have always strongly believed that real estate is the best investment there is. A place to live is a basic need, so it seems it is the most logical investment you can make since real estate goes up over time. I have certainly been blessed as a result of making real estate my primary investment. I have purchased rentals and my tenants are so nice to buy the buildings for me! What could be better?
And the big question, “How do we sell our real estate this time of year?” Answer: Top advertising is a must, so be assured our Naisbitt-Bagley Team advertises aggressively all over the world to sell your real estate both on line and in print. That is our job. and I don’t know of anyone that advertises more! The rest of the answer is the owner’s job and just as important: Homes must be warm and comfortable, in show condition, and priced correctly! We would love to help you!
Please call our Team at 435-865-1019 at ERA Realty Center or email firstname.lastname@example.org for your free consultation as to pricing with the market and for hints on staging your property to attract your buyer quickly.
For all your real estate questions and concerns, please call our Naisbitt-Bagley Team at ERA Realty Center, 435-865-1019. You can also text or call Matt Bagley at 435-590-8788, Janet Naisbitt-Bagley at 435-559-7772, and Jennifer Corral at 435-559-0366. We are known as the real estate team that “cares.” Enjoy your holidays!