Janet Naisbitt-Bagley

ERA Realty Center, Cedar City, Utah

Archive for the tag “Real Estate Market”

Naisbitt-Bagley Team, ERA Realty Center, 1st Fall Newsletter Update–Happy Harvesting!

Naisbitt-Bagley Team, ERA Realty Center, 1st Fall Newsletter Update–Happy Harvesting!

According to the Utah REALTOR Third Quarter 2014 official magazine of the Utah Association of REALTORS, “Utah prices still rising but at a slower rate.”   The article states, “Home prices are on the rise but are not spiking as they did last year.”  “Home buyers are benefiting from slower price growth due to the much-needed rising inventory levels seen since the beginning of the year, said Lawrence Yun, chief economist for the National Association of REALTORS.”  The article goes on to say, “A slowing in the rate of home price gains is also helping prevent real estate from becoming unaffordable relative to incomes.  Yun said the gap in wage and housing price growth appears to be narrowing.”  “Affordability issues will be less of an impact going forward, Yun said.”  “We’re hoping home prices won’t move up sharply, and I don’t think so due to increased inventory.”  “There were 21,538 properties for sale in Utah at the end of June, up 7.3 percent from last year.  Utah buyers had about 1,500 more listings from which to choose than they did in June 2013.”

Attached is the latest “Utah Association of REALTORS Local Market Updates by County July 2014.”  It takes the Utah Association of REALTORS (UAR) approximately 2 to 3 months to compile the statistics for the report of all counties in Utah, so July has the most current statistics available.  According to the report, Iron County closed sales are up 2.6% year to date (YTD) as compared to 2013 this same time.  The Median sales price in Iron County is up 7% YTD to $138,000 as compared to 2013.  If you look at the month of July of 2013 and compare it to July of 2014, the median sales price was up 10.2% in 2014 for that month to $140,500.The information on all the other counties in Utah is attached.

Homes in all price ranges are selling if marketed aggressively and priced with the market and especially if they show well.  Homes under $200,000 are still attracting the bulk of the buyers and sometimes more than 1 which creates a multiple offer situation!  Lots and land are selling at bargain prices and new construction is attracting buyers to sometimes pay a little more than resale prices.  Foreclosures and short sales are still available with more on the way.  Investors are in the market and are often looking for multi-units, but there are very few available.  2nd homes buyers are in the market but most buyers are looking to occupy their dream home.  Some buyers are upsizing and some are downsizing.  Commercial and development properties are still in the back-ground, but improvements in the economy should help in the future to get those sold.

4 steps necessary to attract top dollar quickly and with very few problems!    Isn’t that what sellers want?

  1. Aggressive marketing worldwide is very important! The Naisbitt-Bagley Team’s marketing plan works.  We do not know of anyone with a more aggressive advertising policy to attract buyers as well as other real estate agents to show their homes and properties.   Our real estate listings go on-line all over the world plus it is our goal to market locally wherever a buyer might be!  Please call 435-865-1019 for a copy of our market plan today.
  1. Pricing home and property is of utmost importance. Consult with the Naisbitt-Bagley Team to get an overview of market pricing for your home or property to see if it needs a market adjustment in price.  If sellers want to attract buyers to tour their real estate, the advertised price needs to be at market!  Buyers spend hours looking on-line and are not likely to tour an overpriced property even if it is advertised aggressively.
  1. Staging for top dollar: According to Vol. 30, No.9 September 2014 REAL ESTATE Magazine article, “Staging: Books Make it Better,” “One conventional de-cluttering strategy includes packing up your books.  Now your book cases, night stands, coffee tables, couch tables and end tables are ready to be staged…with books.”  “Much like the pillow-staging principle…The color of the books, the number of books and the placement of the books is the key to effectively staging with books.” “Choose hardbound books with cover colors that fit into your scheme.” “Just as with pillows, odd numbers are suitable for home staging with books.”  You’ll want to place the books in an attractive and charming position.

It has been our experience that the first impression for buyers is important!  Spiff up the yard and entry!  Go into every room and make “light and space.”  A fresh coat of pain, new carpet, and a clean home go a long way to making a warm and cozy reception for a buyer.  The smell of cookies or bread baking brings fond memories to the surface of those touring your home!  Buyers purchase their own home based approximately 90% on emotion for good reason.  A home has to feel good and be welcoming every day of your life!  Some sellers don’t realize that land can be prepared for showings also!  Have your land weeded and tilled, so it doesn’t look like a big project!  Buyers like to feel good about where there home is to be built.  Call the Naisbitt-Bagley Team for a free consultation to prepare your home or property for sale.

  1. Make sure your home is ready to show at all times. Work with the buyer on their schedule.   It is very difficult to plan a tour around a seller’s schedule when there are 5 or more homes to tour.  It is easier to tour them in order of where they are, so you are not wasting time going back and forth.  Sometimes the buyer will choose not to see a home rather than have their tour go longer in order to go back to the same area they have already left.   Real Estate agents will usually give a seller as much notice as they get, which may only be a few minutes.   I remember a buyer coming in from a Shakespear Play matinee.  They said, “It feels good here and people smile. We want to buy a second home here.” They decided to buy and they did!  Luckily the sellers let us tour the home they bought with only15 minutes notice.  Please let us know if you would like a copy of our free directions for preparing a home to show in 10 minutes.”  We also have a free DVD on preparing your home for sale if you would like to view it.

Just a reminder!  It is getting close to time to winterize!  It is difficult to believe fall is here, but as the leaves color, we know freezing weather is on its way!

For your free real estate consultation whether buying or selling, contact the Naisbitt-Bagley Team at 435-865-1019 at ERA Realty Center.  You can also email naisbitt@inxsnet,com or text Matt Bagley at 435-590-8788, Jennifer Corral at 435-559-0366 or Janet Naisbitt at 435-559-7772.  We would love to answer your questions and assist with your problems and concerns as well as help you reach all of your real estate goals.  Please contact the Naisbitt-Bagley Team NOW!

We want to make your realty dreams a reality!  We work hard to make your transaction fun and easy!

UAR July 2014 Stats

January 2013 Market Update

January 2013 Real Estate Newsletter Update

Naisbitt-Bagley Team, ERA Realty Center

 

Don’t ask me how it got to be 2013, but here we are and I believe it will be a great year for real estate!

 

It is freezing outside! This is one of the coldest winters I have seen in Cedar City. Please make sure everything is winterized and prepared for low temperatures.

 

The latest Utah Association of Realtors (UAR) “Local Market Updates by County November 2012” has arrived. See attachment for statistics for all counties in Utah. Iron County closed sales YTD 2012 are up 12% as compared to 2011. The median sales price is up YTD 8.4% to $110,600 according to this report.

 

Real Estate Market Information: The inventory of homes for sale is down, interest rates are low, closed sales are up, and the median price is up. That is great news for buyers and sellers!

 

Are there still foreclosures, short sales, and notices of default? That is still the question I hear a lot. The answer is “Yes”. Is this still a bargain driven real estate market? Yes, for the most part, it is.

 

Homes are selling in all price ranges as long as they are priced for the market.

 

Homes under $150,000 are in a strong market. If these homes are priced correctly, they often attract multiple offers. Sometimes they sell above list price and appraisal.          

 

Land, acreage, and commercial properties are slow sales. It’s difficult to get loans for land. Many sellers are reluctant to part with their land at the low prices buyers want to pay compared to the past.

 

We are seeing lot sales at bargain prices. Appraisals are typically not high enough to get mortgage loans for new homes being built on lots. Even though construction costs have gone down, resale homes typically sell for less than building a home.

 

According to ERA Network News December 2012, “As this country emerges from the most significant real estate downturn in a generation, ERA brokers have noticed some post-recession behavioral shifts among homebuyers that reflect an entirely new real estate landscape.” I believe this is true. However, buyers want to own a home, and that has not changed. Investors are in the market and buyers are on the move. I will summarize the homebuyer behaviors these brokers identified as follows:

 

  1. “In the Know”: Buyers have invested a lot of time and they understand their options and preferences. They view a home as a “foundation” for life rather than an “Investment Vehicle” like many thought in the boom market several years ago.
  2. “All in the Family”: Buyers view a home as a place for multiple generations living under one roof.
  3. “Moving Up”: Buyers are looking for move-in ready homes rather than “DIY” projects. 
  4. “Sizing Down”: Buyers want the simpler life and are saying, “Do not supersize me!” They would rather have a smaller home with less upkeep so they can enjoy their hobbies, travel, and relationships.

 

For all real estate consultations, pricing, staging, concerns, or any real estate questions, please call the Naisbitt-Bagley Team at 435-865-1019 or toll free at 800-934-3742. You can text: naisbitt@inxsnet.com. You can check out homes for sale as well as free reports and valuable information at http://www.homesincedarcity.com. The Naisbitt-Bagley Team will market aggressively and work hard to get you great results!

October Market Update

October 2012 Market Update for Cedar City, Utah

  • IT IS TIME TO WINTERIZE INSIDE AND OUT!  Freezing temperatures are at hand and can cause considerable damage if pipes freeze, etc.  Call with questions.
  • August 2012 UAR Local Market Updates by County are now available:  Iron County Closed sales are up 2012 YTD by 8.5% as compared to 2011 YTD.  August 2012 closed sales are actually up 13.6% as compared with August 2011. The median sales price 2012 YTD is $94,000 which is down only 2% as compared to YTD 2011 figure of $95,900.  The exciting thing is that the median price for August 2012 is $134,500 as compared to August 2011 of $107,500 which is an increase of 25.2%.  I do believe we are beginning to see an increase in sales prices as well as an increase in closed sales.
  • It appears that we do not have as many foreclosures on the market.  Banks are approving short sales, which means they sometimes do accept less than what is owed as payment on the mortgage.  If an owner owes more than a home is worth, doing a short sale may be an option.  Check with your lender for all options.
  • Interest rates are still a at historic low which is helping buyers qualify for homes while prices are still low enough to allow a mortgage payment lower than rent in many cases.
  • Home inventory is decreasing.  Homes in the lower price ranges are often experience multiple offers and sometimes sell above listing price.
  • Homes in all price ranges are selling if they are priced correctly, show well, and are advertised aggressively.  Multi-unit properties are selling.  Investors are here.
  • Lots, land, acreage, development land and commercial properties are still experiencing an extremely slow market with very few buyers and very little money available for loans.
  • Fall and Winter can be good times to sell with serious buyers looking to relocate.  It is true that there are typically not as many buyers as in spring and summer, but often there also are not as many homes for sale which evens out.  ERA Real Estate completed a survey to show who buys in the fall that was sent to me in an email from ERA Network News Thursday, October 4, 2012.  The survey also received national media coverage in RealtyToday.com and others.  The article points out that families with children tend to purchase based on the school year schedule which peaks in June or July.  However, many first-time home buyers purchase in the fall as well as Move-up buyers, downsizing and retiring buyers.  Investors stay in the picture in the fall as do military relocations and vacation buyers in that order.  The article points out that “Back to School Means Back to Business for Homebuyers.”
  • Dressing your home for the holidays can be warm and inviting to buyers.  Curb appeal is important as well as making home repairs in advance.  Since there is no way to know when your buyer will arrive, I believe in marketing aggressively all year long.  Please be assured that your home and property will continue to receive top marketing.
  • Pricing and showcasing are always top priorities.  Please call 435-865-1019 or 800-934-3742 for a consultation regarding market pricing and showcasing if your home or property has not sold.  You can also email naisbitt@infowest.com.  You can text or call Janet’s mobile at 435-559-7772.  Please check out your competition on the MLS in this real estate market at http://www.homesincedarcity.com.
  • Please let Janet and her team of licensed professionals know if you have any questions, concerns, problems or if you want to discuss the market or your property or anything.  We do always want to give you top service and be available for you, so please contact us today.  We have found that you know best when you want to hear from us.  This letter is to serve as our call to you with your real estate market update.  For more individual information, please call us at your convenience at 435-865-1019 or text or email.
  • We always want to give you top service with all of your real estate needs whatever they are.  We love referrals, so please let us know if you know of anyone that wants to buy or sell real estate.  We’d love our top experience, service and training to benefit your associates

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