Janet Naisbitt-Bagley

ERA Realty Center, Cedar City, Utah

Archive for the month “May, 2017”

The Matt Bagley Team May Newsletter Update!

The Matt Bagley Team 2017 Lively Month of May Real Estate Newsletter Update!

 

Utah Real Estate is in the news, and the news is awesome!  “What is all the buzz about Utah?” To quote DeAnna Dipo, Utah Association of REALTORs President, from the REALTOR Magazine First Quarter 2017, “Business in Utah is booming, and media outlets nationwide are recognizing our state as one of the best in the country.”  She quotes from Forbes Magazine that has named Utah as “The Best State for Business and Careers,” and CNBC for awarding Utah as the “Top State for Business.”  She mentions later in the article, “We are the second-fastest growing state in the country for business.”  She says “Our unemployment rate still remains low, at 3.1 percent, and our in-migration has seen a steady increase, according to the Kem Gardner Policy Institute of the University of Utah.”  We are blessed as a Real Estate Team to have the wonderful opportunity of helping people buy and sell homes and rental or investment properties in this great corner of the world in this exciting Southern Utah real estate market.  We get to help your realty dreams become reality!

 

All news can’t be good, so what is the bad news according to DeAnna’s article? It is that “Interest rates may increase to 4.5 percent.  But is that really so bad?  Some may remember interest rates as high as 18 percent.  That makes 4.5 percent not seem so bad; however, every slight increase can potentially eliminate a buyer from the market.”  I remember interest rates being 18% when I started my real estate career in January 1983.  The whole office had a party when they went down to 13%!  Just imagine!  DeAnna goes on to mention the shortage of homes for sale and rentals and the need for affordable housing.  We are experiencing that shortage of inventory very strongly in our Southern Utah area Real Estate market which is causing multiple offers and buyers who sometimes pay a little more than list price.

 

Iron County closed sales are up 22.9% year to date (YTD) according to the latest update available from the Utah Association of REALTORS (UAR) as compared to 2016.  The Median Sales price is up 21.3% YTD to $182,000 as compared to 2016.  Please see attached UAR Local Market Updates by County for more details and for all counties in Utah.

 

Iron County Multiple Listing Service (MLS) graphs are attached for 01/01/2017-4/27/2017 showing homes selling in all ranges in our area.  179 homes sold between $100,000 and $199,999, and 61 sold between $200,000 and $249,999.  Only 35 homes sold below $100,000, and 105 homes sold above $250,000.  Our market is definitely improving steadily and prices are on the rise.  It is still recommended to list at market value to get top dollar quickly.  Buyers search carefully online and tour the good buys.  Then they buy the best ones, so having a show-perfect home is an excellent way to attract an offer.  If a home is overpriced, there is a chance it will not get shown in spite of aggressive advertising.

 

According to the Iron County MLS statistics graphs, ERA Realty Center sells more of their own listings as well as more of other office’s listings than any other office in our area.  We are happy to continue as the top producer which has been the case for many years!  We are grateful to our clients and customers for this blessing and vote of confidence!  Our excellent aggressive marketing is successful both online and in print!

 

Homes continue as the big seller in our area.  We would be selling many more multiple units and rental properties to investors if our inventory wasn’t so low.  We do have lot sales and new construction.  Development land and commercial properties are selling but slowly and not many.

 

How do sellers make the most money when they sell?  1.  Price at market value!  2.  Make your home sparkle!  3.  Update, repair and fix up in advance!  Call  your Matt Bagley Team today for top service, expertise, experience and knowledge in pricing, staging and for names of inspectors and contractors.

 

Contact Matt Bagley 435-590-8788, Janet Naisbitt-Bagley 435-559-7772, and Jennifer Corral 435-559-0366, your Matt Bagley Team, at 435-865-1019 for your free real estate consultation at ERA Realty Center today or email bagleyteam@gmail.com.  We would love to help you reach all your real estate goals and to answer all your questions and concerns.  This newsletter is written by Janet Naisbitt-Bagley.

UAR March 2017

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Spring Forward to Our Sunny April 2017 Matt Bagley Team Real Estate Newsletter and Enjoy It Now!

*Is our real estate market healthy? Southern Utah Real Estate market is strong and getting stronger! Iron County closed sales are up 25.2% year-to-date (YTD) February 2017 as compared to that same month 2016 according to the latest Market Updates available from the Utah Association of REALTORS (UAR). Iron County median price is up 28.9% YTD to $188,000. Wow! Typically, our market picks up in spring and summer, so 2017 is going to be one of our best years yet! We need more inventory; but with our still affordable prices and low interest rates, this is an awesome month to buy or sell! Please see more details and all counties in attached UAR Local Market Updates.

*What do current buyers want in their home? According to The Residential Specialist March/April 2017 magazine, 44 percent want homes with more than two bathrooms; 45 percent want a completely open kitchen-dining area; 32 percent want a home with a completely open kitchen-family room. This article titled “Getting Cozy” reports that 30 percent want a home under 1600 square feet and 15 percent want a home greater than 3000 square feet. Even if your home doesn’t quite match the above criteria, now is a good time to sell since home inventory is low and multi-offers are coming.

*What about lenders? In “Cutting Close” in the same magazine we learn, “Some lenders are now shooting for a 21-day turnaround to close home loans. That would be a major reduction from the current time-to-close, which hovers around six weeks.” That would be awesome if they do that. We shall see! Interest rates are still low, but they are rising. Lenders in our market are working hard and giving our buyers top service.

*What about service and advertising? Advanced technology is very important in today’s real estate world. The Matt Bagley Team and ERA Realty Center are keeping ahead of the game. I know of no one that advertises more aggressively online and in print. Your Team has top experience and expertise. Your highly trained Team gives top service and uses the latest tools of the trade! Please call for our market plan. It works! Our homes and properties sell!

*What about preparing the home to show? The article “Turned Off” in March/April Residential Specialist Magazine states that buyers hate foul odors, filth, clutter, personal taste, and shabbiness both inside and out. It is important that homes have fresh neutral paint inside and out and that they are deep cleaned and in top repair. Trading laminate counter tops for granite and adding new light fixtures really adds to the home’s appeal. New flooring is important. Trimming and cleaning up the yard and adding flowers can really beautify the home. Remember first impressions are of utmost importance. Call our Team for suggestions on staging and how to make the home attractive to buyers. We even have DVDs you can borrow! We want buyers to choose your property! If you have a lot or land, it is important to have it looking nice, cleared of weeds, etc.

*What about investors? They are looking for 2 to 4 unit properties, but those are difficult to find. They do purchase single family and twin homes sometimes when multi-units that they like are not available. There is some need for commercial and land, but not so much. New construction is an option.

*What about underwater properties? Foreclosures and short sales are very few and becoming rare. They are almost an item of the past–not quite.

“Is your sales price competitive with current market? If your home has been on the market for 30 days or more, it is time to call your Team and request a market overview. We can show you what homes buyers have chosen instead of yours and help you decide what to do to be more competitive to attract the next buyer. With so much information available on-line, it is rare that a buyer will pay more than the current value of the home. You wouldn’t pay more for a car in one lot than you could get it for on another lot either. They can look on line and compare all the home prices and see pictures too. Pricing your land or lot correctly is just as important as homes. We can give you information on what other similar properties have sold for and also show you other properties for sale competing with yours.

*What can your Team do to help you? Call your Matt Bagley Team at 435-865-1019 or email bagleyteam@gmail.com for your free real estate consultation. We are happy to answer all of your questions, concerns and give you updates. You can also call or text your Team at ERA Realty Center: Matt Bagley 435-590-8788, Janet Naisbitt-Bagley 435-559-7772, and Jennifer Corral 435-559-0366. We would love to hear from you. We are known as the top real estate team who cares and we would love to help you turn your realty dreams into reality! Please contact us today.UAR February 2017

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