Hot July 2017 Hot Real Estate Market Newsletter Update From Matt Bagley Team
Wow! Real Estate sales are sizzling! Iron County closed sales are up 13.4% and the Median Sales Price is up 19.7%. See attached Utah Association of REALTORS Local Market Updates by County for more details and for statistics from every county. Our Real Estate Market is Awesome!
What about the summer forecast? To quote Economist Ralph DeFranco from DS News June 2017, “Hot markets will remain hot, with continued bidding wars for desirable properties. Home sales overall are strong, up slightly from last year even though there are fewer homes to choose from.” He continues, “Even a modest increase in mortgage rates will not derail this strong a market.” “According to the Spring 2017 Housing and Mortgage Market Review home prices aren’t dropping anytime soon.” It is our opinion that this national forecast matches our local market.
To quote from July 2017 DS News issue, Dr. Frank Nothaft, Chief Economist CoreLogic, “We expect a modest (less than 2 percent) increase in home sales in 2017 with single-family starts up almost 10 percent. The DS Journal also stated, “Younger Generation Shifts to Buying Instead of Renting;”
Not all experts agree; however, whatever the national predictions are, our local real estate is moving and the market is fabulous! I went to a closing today where the couple is absolutely thrilled to be moving here from Alaska! It is so delightful to help our clients find their happy home! That feels good! When I got back to the office, I learned there were 2 offers on one of our listed homes and maybe a third one on its way. Homes and land are moving when priced correctly and advertised aggressively! It is fun to be part of the excitement!
What else is needed for sellers to get top dollar quickly besides our aggressive advertising online and in print and their property priced competitively for the market? The home must be prepared for success! Remember what the famous home stager, Barb Schwarz, advises in “How to Stage Your Home To Sell For Top Dollar!” “The way you live in a home and the way you sell a home are not the same.” I have attended her training at ERA Real Estate National conventions twice–once many years ago and once a few years ago. She is great and so talented. Part of our service when we list your home is to help you prepare it to win! Call today for details. Many many pictures of your home go all over the country and all over the world online, in print, and to other real estate agents. We don’t know who your buyer will call, but our advertising will be the reason they call! We all want your home to be gorgeous to attract your buyer!
More news! The July/August 2017 REALTOR Magazine reports from National Association of REALTORS (NAR) research, “The economy is hanging in there and job growth remains solid, so markets are seeing an uptick in first-time buyers…” “Inventories remain low, though, so buyers are competing for a relatively small number of properties…” “The share of home buyers coming from the ranks of renters has steadily increased over the last three years, while the percentage of move-up buyers continue to slip.”
“Get a CLUE” in the REALTOR Magazine for 1st and 2nd quarters discusses the Comprehensive Loss Underwriting Exchange database (CLUE). “The CLUE report provides information on property insurance claims for the past seven years.” “It’s important to make sure the information in your CLUE report is accurate because an error could increase your insurance premiums or prevent you from getting coverage.” This is a good suggestion for sellers to get the report and check it out. Call your insurance agent. Buyers should also get this report to help them with their due diligence. Of course, buyers should also always have inspections also.
REMEMBER! To sell quickly at top dollar, you need our Team’s aggressive marketing that works both online and in print! You also need the right price and your home staged and prepared for success!
We want to help you turn all your realty goals into reality! Call our Matt Bagley Team at 435-865-1019 at ERA Realty Center for your free consultation on market pricing, preparing your home for sale, for our aggressive market plan that works, for answers to your problems and concerns and for help reaching all of your real estate goals! We even have a DVD that we can loan you to help you stage your home for top dollar quickly! You can text or call Matt Bagley at 435-590-8788, Janet Naisbitt-Bagley at 435-559-7772 and Jennifer Corral at 435-559-0366