2nd Fall 2014 Naisbitt-Bagley Team Seller Newsletter Update
Fall is here and the leaves are beautiful. Experiencing our 4 seasons in Cedar City and surrounding areas brings joy to the heart! However, if you haven’t WINTERIZED yet, now is the time! Freezing temperatures switching back and forth between sunshine and warmth! Avoid those terrible frozen pipes!
With the coming of fall, the excitement arrives for the holidays! Some think they should take their homes off the market! On the contrary, your home is very warm and inviting with decorations. Buyers purchase 90% on emotion according to statistics, and decorations often bring back warm feelings and love. Another positive for holiday showings, is that buyers this time of year are typically serious. They need to buy now! Buyers who don’t need to buy right away will most likely put of their home and land shopping until better weather and less busy schedules.
The Utah Association of REALTORS (UAR) county updates are completed and attached for August 2014! As I mentioned, it takes UAR approximately 2 or 3 months to compile the statistics for every county from the Multiple Listing Services (MLS), so these are the latest statistics available for you.
Interest rates are still low and buyers can purchase often with a payment of less than rent. Multiple offers often come in on properties priced for the market. Most homes sell below $200,000 but homes are selling in all price ranges when priced for the market. We are seeing buyers looking for primary residences as well as investment properties. Buyers are moving up and down and out of town and in town. Many buyers come from out of state. Commercial, land, lots are still slow movers and often discount prices to sell.
Good news: According to the report, August closed sales in 2014 were 25.6% better than 2013. Closed sales year to date (YTD) 2014 were up 4.8% as compared to 2013. Median sales price YTD is $138,000 which is up 6.2%.
In HomeFinder Spectrum and Daily News October 18, 2014 issue, there is a really good article titled, “Pay attention to defects that affect safety” by Frank Ross. It is addressed to buyers, but sellers can take note and prepare in advance of showing and selling the home. Also, the buyer will most likely have a thorough home inspection report that contains “…maintenance recommendations, estimated life expectancies, informational observations…”. The article names four categories that I believe are worth the seller addressing and fixing in advance if at all possible:
“1. Major defects…”
“2. Deferred maintenance or conditions that could lead to major defects…”
“3. Items that may hamper your ability to obtain financing, legally occupy or “insure the home…”
“4. Safety hazards…”
Sometimes the seller can fix a “minor thing” “like a missing stairway hand rail, or faulty GFCI receptacle” that may not cost much but could save a life later on. When the seller fills out his required “Seller’s Disclosures,” it is nice to list the item as fixed rather than not working. The buyers often want the price of the home discounted much more than it would cost for the seller to fix the item ahead of time. This can be as important as cleaning, painting and new flooring which are top priorities in preparing a home for sale.
We are sad that CML Mines has announced that it is suspending its production. According to Cedar City Daily News, “While company officials were not able to give out the exact number of employees, Dale Gilbert, president and CEO of CML Metals, said the layoffs will affect more than 100 people. We hope the future holds a reversal of that decision!
Pricing can affect the value of marketing. If the price isn’t right, the ad doesn’t attract a showing, so please contact us today for your free consultation on pricing, staging or any other concerns or questions you want to discuss!
Please let us know if there is anything else you want us to do to help you reach your goals. Call 435-865-1019 or email firstname.lastname@example.org. You can also text our Naisbitt-Bagley Team: Matt 435-590-8788; Jennifer C. 435-559-0366; Janet 435-559-7772 for top service. We want to help your realty dreams become a reality! We care.