Hurray! Spring is officially here and so is your Matt Bagley Team Real Estate Newsletter!
“Rising Rates, Rising Sales” according to National Association of REALTORS (NAR) Chief Economist, Lawrence Yun.” He goes on to explain, “…If rising interest rates are accompanied by a strengthening labor market with higher wages, the economy will be fine. At least 2 million net new jobs are forecast for this year, and that is the reason we anticipate home sales will squeak out a modest gain over 2016. If mortgage underwriting standards normalize even modestly from the excessively stringent conditions of the past few years, such as through reduced FHA insurance premiums or lower guarantee fees on loans backed by Fannie Mae and Freddie Mac, then sales could be even better.” Yun is quoted from the March/April 2017 REALTOR Magazine.
DS News reported in January 2017: “Low Inventory Becoming Problematic.” This is still true in March 2017. We need more homes and other properties on the market!
We have buyers who need something to buy! Is there any other real estate that you would like us to provide a buyer for? Homes and other properties are selling quickly when priced right and are attractive!
Another article, “Housing Market Health Exemplified by Low Foreclosure and Delinquency,” discusses the exciting news, “Foreclosure starts from October 2016 have fallen to their lowest level since January 2005, according to the month-end mortgage performance report curated by Black Knight Financial Services, Inc.”
We are also seeing fewer short sales as our economy continues its steady recovery.
The Southern Utah real estate market is steady and climbing at a reasonable rate. However, Iron County closed sales jumped an amazing 83.8% higher in January of 2017 than in that same month 2016. The Median Sales Price in Iron County has risen $16.5% to $193,000 during that same period of time. Please see the latest report available from the Utah Association of REALTORS attached for more details and for every county in Utah.
You ask, “How’s the real estate market?” It is awesome for both buyers and sellers!
Please contact your Matt Bagley Team at 435-865-1019 at ERA Realty Center or email firstname.lastname@example.org for your free consultation to find out how we can better help you reach all of your real estate goals! We would love to discuss your buying and selling questions, your concerns, as well as your wants and needs! We would love our top service, experience, training and expertise to help turn your realty dreams into reality!