As real estate agents we can simply answer the phone and obtain our next deal.  Possibly a buyer or seller calling, desiring to speak with an actual person and you just so happen to be sitting close to the phone, see the number on the caller ID and think “this is probably not that guy looking to get my website on the front page of Google…I’ll grab it”.  Lucky day, this is your next deal.  

This is how one of my recent deals was acquired.  I answered the phone.  Since then, I have had the privilege to get to know their family.  This transaction involved an estate sale where the children were selling their deceased parents’ home.  Estate and Trust sales can involve an emotional aspect that agents are not trained or prepared for in any traditional real estate course requirement.  Compassion and empathy are human and social elements that can be forgotten as we move forward through the motions and routine of our daily transactions.  

Sometimes we answer the phone to our existing client and we become their therapist.  On our day of closing, I was heading out the door with a full schedule on tap when I received the call.  My client was suddenly faced with the realization of a closing for a very personal and emotional chapter of her life.  My day came to a screeching halt and I sat back down and just let her talk.  I closed the doors and shut down the computer and listened, really listened.  She called me to reminisce about her life and her parents and allow me to know the parents in which I would not have the privilege to ever meet.  She admitted that she had unintentionally procrastinated in the grieving process, and it was all boiling over, at that moment. 

This was something I had overlooked, after all, I did what they wanted—I sold the house.  But what never crossed my mind was the fact that on the surface these people seemed “all business”, but underneath they were still grieving.  Once I closed the door to their parents’ home for the final time, I realized that these are people who, like anyone, miss their parents.  

I’m glad she chose me and I’m glad I didn’t let my life and busy schedule get in the way of this extreme outpouring of emotion I was experiencing.  After the call had ended, I revised my schedule and stopped at the flower shop for a small bouquet of flowers.  I dropped them off at her front door with a copy of my favorite Native American Prayer.  She called later that evening in tears, but these tears were different.  She was so happy with my gesture and explained how it made her day.  What she doesn’t know, is that she made mine.  

Sometimes we have to deviate from the plan and the schedule of our busy life.  Sometimes that phone call can be a transaction and sometimes it can be more.  We must remember that the people we are working for are actual people.  Each client has a story.   Be sure to listen.

Let's take a look at the general stats for greater St. George residential as of November 15, 2011:

ACTIVE: 1,171 of the 1,171 "active" 295 homes are distressed which equates to 25% of our inventory is of distressed status (short sale or foreclosure).

SOLD:  249 (from 10/1/11 through 11/14/11).  Of the 249 SOLD homes, 78 sold homes were of distressed status which equates to 31% of the sold homes were of distressed status.

Hurricane Utah Real Estate Market Conditions

Hurricane has been badly neglected on these posts, let's take a look at how our neighbors are doing.

ACTIVE:  214  of the 214 active (residential) homes there are 66 homes of distressed status (or 30% of the listed inventory is of distressed status)

SOLD:  44 (from 10/1/11 through 11/14/11).  Of the 44 sold homes, there were 16 distressed sales (or 36% of the sold homes were of distressed status)

ST GEORGE UTAH RESIDENTIAL YEAR TO DATE MARKET CONDITIONS

Let's take a sneak peak at the year end and year over year comparable sales.  Typically I post these in January, but let's see how things are stacking up:

We are closing the gap between the RED line (active inventory) and the BLACK line (sold home) which is necessary for market stabilization (queue supply and demand!).  This 2 year review shows gradual, consistent  stabilization.  

 

So here is another of my favorite charts, I like to call it "what's selling".  This will show the price range of the 249 homes that were sold to gain perspective on the most sought after price range for most recent buyers.

 

 

If you have specific market information you'd like to see, feel free to email and I'll work in into my next post. 

I've got a few new listings!  For you SUN RIVER ST. GEORGE RESALE buyers, I have a 3 bedroom 3 bath (with CASITA), and 2 really great FULLY FURNISHED homes that are UNDER $180,000.  I've got one in Santa Clara that has 4 bedrooms and a great view for $199,000.  Find them all listed here: FEATURED LISTINGS

or for ALL Sun River St George homes for sale click here:

SUN RIVER HOMES FOR SALE

for ALL MLS listed Santa Clara Utah homes for salevisit this link:

SANTA CLARA UTAH HOMES FOR SALE

The heat wave in St George Utah seems to be fading; this seems to correlate with people resuming interest in retiring to Sun River. Sun River is the premier active adult community here in St George, although it’s not the only adult community, it is definitely the largest and most developed around. I’ve noticed over the past few weeks that interest has increased and buyers want to know what is going on within the community.

How Many Homes For Sale in Sun River St. George?

 

Currently there are 56 ACTIVE homes for sale in Sun River St George. Of these Active Listings, 2 are Short Sales and 1 is a Foreclosure (or 5% of the inventory is of distressed status). Over the past 6 months--49 homes have sold (as reported on the MLS) and only 2 were of distressed status (short sale or foreclosure). These are incredible statistics when comparing St. George: there are 715 ACTIVE homes and of this number, 184 homes are of distressed status (or 26% of the inventory is of distressed status).

SunRiver St. George MLS

If you would like to stay up to date on all homes listed in Sunriver, contact Paula Smith and I can set you up with an Automatic Listing Alert. This will notify you the moment a home is listed. If you have specific criteria you’re looking for (size, price range, etc…) just let me know and I can create a specific search to update you with exactly what you’re looking for. If you want to take a look at all MLS listed homes available, check out my Sun River St George Homes For Sale page, updated daily.

Searching for Sun River homes for sale? This is the newest Sunriver listing offered by Paula Smith of RE/MAX First Realty. This home offers 2 bedrooms and 2 baths. Virtually the entire floor plan has been expanded, making it unusually large in comparison to similar models. Not many Sunriver resale homes listed on the MLS will offer the amount of cabinets and storage this home has! The master has a tub and separate shower, dual vanity, and a VERY LARGE walk in closet. At this competitive price of $177,000 you can also have the refrigerator, front load washer/dryer, TWO wall mounted TV's and a "like new" golf cart. Great deal for someone looking for the resort like life style Sunriver has to offer. View this home or ALL MLS listed SunRiver homes: SunRiver Real Estate

 

Here is a Sunriver active adult (55+) community listing. It's a 3 bedroom 2 bath “like new” home with a 3 car garage.  If you are searching for resale homes in Sun River, have a look at this great property.  The North facing back yard is spacious and offers a nice panoramic view.  You can find a list of all current MLS listed Sunriver homes updated daily by visiting the link below.  Also available on my blog are sales statistics and market reports for St. George and the surrounding area.

Here is a St. George Utah Real Estate market snap shot illustrating market absorption for residential property in St. George for May 2011 and a year to date analysis as well.
 

Our St. George market is changing.  While it's accurate to state that we have improved, noting that inventory is down and sales are up, it's to soon to determine if we have truly hit bottom and we are now in an upward trend, or if we are simply having a few great months fueled by low interest rates and rock bottom pricing.

May statistics showed (St. George Residential) a total of 1206 active, of which 239 were new listings, 142 sold listings, and 187 went pending.  Just to focus on the last two numbers, it's interesting to point out that a total of 329 homes sold/went pending and only 239 homes are new listings. 

For the same time last year (May 2010) there was a total of 1385 active, of which 216 were new listings, 145 sold listings, and 115 went pending.

For the Percentage Junkies, here's your fix: 

2011:  A total of 1206 active and 329 homes sold/went pending= 27% homes sold (closed or got an offer)
2010:  A total of 1385 active and 260 home sold/went pending= 18% homes sold (closed or got an offer)

Again, a nice illustration of a market trending in an upward pattern.  Here's where things get ugly for the sellers:

May 2009  MEDIAN SALE price:  $208,000
May 2010 MEDIAN SALE price:  $169,000
May 2011 MEDIAN SALE price:  $150,000

I've been noting an average yearly decline of about 12-15% each year, this demonstrates a similar pattern.

What's the prediction for the St George Real Estate Market?

So here is my conclusion and opinion:  I can see that we are really burning through our inventory at a fast pace.  While home prices continue to decline, the "pick of the litter" homes are few and far between.  It's difficult to find what most buyers want:  a larger home, newer, $250,000 or less, and not in need of major repair.  When these types of homes come on the market at a great price--there are multiple offers sometimes within HOURS.  So buyers are forced to pick though what's left, and the only way they are willing to take it, is when it comes with a nice price tag (adding to the decline).  So long as we continue to burn though this inventory, supply and demand will kick in.  What could be lurking in the shadows however, may be a surplus of "shadow inventory" the banks have not yet released on the market (or have not yet foreclosed on).   I stand by what I've been saying for months:  so long as you plan to buy and STAY for a few years, you'll probably make out just fine.  If you think you may sell in the short term, you may in fact be selling "short".

How is the real estate market in St George?  Is there still a lot of foreclosure activity in St George?  Do you think the market has stabilized in Saint George?  Has there been any improvement for the real estate market?  What do you think will happen in the next 1-3 years in St. George real estate? 

These are my “daily questions” from most St George Utah real estate buyers and sellers.  I’ll try to address the current market conditions and offer my opinion for that last question too.

It’s important to note that for the third straight month, Notice of Defaults (NOD) is down.  NOD’s are sent out “pre-foreclosure”.  It’s when the homeowners are behind in their payments and it is the first step the bank takes to start the foreclosure proceedings.  Not all NOD’s will become actual foreclosures, however many will.  It’s also interesting to note that we are also down in comparison with the past TWO years!  This could be a sign of stabilization.  Actual foreclosures for the first three months is comparable in numbers to last year, here are the total actual numbers in Washington County: 

Let’s take a look at homes that have sold in the Greater St George area as well as the SunRiver market conditions. March 1, 2011 to April 28, 2011 (Greater St. George, single family homes) there were a total of 298 sold as compared to 346 for the same period in 2010.  Of the 298 sold home, 127 were of distressed status (short sale or foreclosure) which means 42% of homes sold were distressed property as compared to 46% for the same period in 2010.  SunRiver had a total of 15 homes sold during this period compared with 19 sold same period last year.  Of the 15 homes sold only ONE was of distressed status.  This is typical for Sunriver, having few if any, distressed sales.  By the way, I’ve got a new Sunriver listing (shameless plug) please check it out here: http://www.stgeorgeutproperty.com/listing/cms/15/

Currently, there are 1654 homes ACTIVE in Greater St. George and 254 have gone under contract (pending) since March 1^st.   Below are a few graphs that will break down the statistics by price range for those of you specific number chasers.   My opinion is that the market seems to be improving a bit.  It will take a few months of monitoring to determine if this is just a mild “peak” before an impending “low” or if in fact we are on the road to recovery.  If the home is priced well, and in decent condition, we are getting multiple offers in a matter of days—sometimes HOURS.  

If you are a buyer who likes to “think before you act” then you will find yourself thinking about an awful lot of homes!  You must act quickly if you find a home you like.  If you are not already working with a buyer’s agent, consider doing so.  You will realize that as a buyer, you are protected with our Purchase Contract and you will have plenty of time to be sure the home you acted so quickly on, is (or is not) the perfect home.  Contact Paula Smith if you are interested in Buyer representation.  If you have a home you’d like me to list and include in one of my shameless plugs—give me a call!

 

The number of sold homes in St George is on the rise, and more homeowners are considering selling their home.  Hiring a real estate agent to help you sell your home is a smart decision, but there are many pitfalls to avoid in order to ensure you are hiring the best qualified professional for you.  By understanding what an agent does for their client, why they do it, and what their systems are, it is possible to not only successfully sell your home, but have a pleasant experience as well.

In essence, real estate agents work for themselves, developing their own way of marketing and selling homes, so every real estate agent is different.  These differences may be slight, or they may vary greatly, but the only way to discover what services each one provides is to interview the agent.  Interview at least three real estate agents at your home, well before you must put the home on the market if possible.  The interviews should focus on several aspects that you may not be aware of yet.  Let's take a look at what a proper real estate agent interview should involve:

The Interview

It is important to understand that the interview process is not to find out which agent claims to be able to get the most money for your home.  In fact, pricing should not even be discussed at the initial interview.  The object of the interview is to discover what services each agent provides, learn what type of marketing plan they have in place, how that marketing plan applies to your situation, and what systems are in place to manage the paperwork generated by a pending contract.

However, as important as these details are, it is just as important to learn whether or not you are comfortable communicating with the agent.  Many sellers make the mistake of simply hiring an agent who promises to sell the house for the most money, even when they do not feel comfortable with the agent, sometimes sellers will state they don't even "like" the agent.  A real estate transaction can be extremely strenuous and emotional; that is why open, clear, comfortable lines of communication are critical to a successful sale.

Questions to ask each agent should be written out and utilized during each interview.  Asking the same questions of each agent will provide you with a standard way to compare them after the interview process is completed.  Below are some of the most critical questions to ask a potential real estate agent:

• How many active clients do you generally assist at any given time?
• What is your marketing plan?
• Describe how my home will be presented on the internet as over 80% of buyers seek homes there.
• How do you manage a contract?  With all of the paperwork, the numerous service providers involved, and the buyer’s side of the transaction, it must be difficult.  How do you keep everything straight?
• Are you a full time real estate agent?
• Do you have any vacations planned?  If yes, how will you manage my business during your absence?  How will you be able to handle an offer or showing?

Be sure to take plenty of notes during the interviews. Once the interviews are over, go over your notes thoroughly.  It is a good idea to schedule a second interview with the realtor you've chosen, this time requesting that the agent provide you with statistical information and recommended pricing on your home.  You may even want to have each agent provide this information in a second interview as well, just to be sure of your final decision.  Although this adds to your time-line, it is critical to make the best possible choice in an agent in order to avoid the all-too-familiar pitfalls.

If you are considering the sale of your home in St George or Hurricane (or the surrounding areas) contact Paula Smith  Re/Max First in St. George, listing specialist.  Place your home on the front page of my website which attracts more than 4500 visitors each month.  I provide sellers with results, backed by Re/Max, the most recognized name in the industry.  Visit my Sellers Page to learn more about Selling your St George home.

Thank you for reading, and share your thoughts!  Paula Smith Re/Max First www.StGeorgeUTproperty.com

 

I would like to formally announce that Paula Smith is now affiliated with RE/MAX First Realty of St. George.  After a few weeks of deliberating, the choice actually became quite easy.  I wanted to surround myself with successful individuals backed by a proven National (and International) brand name.

Selling in St George with RE/MAX First

The exposure I can now offer my clients in my efforts to properly market my listings will be incomparable.  My St George Utah Real Estatewebsite attracts an average of 4000 visitors per month, and ReMax.com attracts 4000 visitors per day!  I have a team of agents that are highly driven and offer sales statistics that far surpass the competition.  My marketing ability with Re/Max First Realty will allow me to sell the home in the least amount of time, by capturing the most exposure and backed by one of the most recognized names in the industry.

Paula Smith RE/MAX First Realty Buyer Agent

As a RE/MAX First Realty Buyers Agent in St George, I am able to offer the experience and knowledge of the CURRENT St George market conditions which will allow me to negotiate the best possible deal for each buyer.  In an ever changing market, it is imperative that a Buyer's Agent is aware of the conditions and has the ability to advise each client and assist them with making informed decisions with the ability to execute the contract that serves the best interest of the Buyer. 

One thing that has not changed is the foundation of my business:  "Dedicated to providing an unprecedented level of service and exceed Client expectations".  All of my contact information will remain the same.   Please contact me if you, or someone you know, would like to buy or sell their home in St. George or Hurricane.

There must be something in the air...perhaps a chill...but Sunriver St. George seems to be on fire with buyers!  I suppose buyers from the more frigid regions are seeking a warmer climate.  I've gone weeks with not one bit of interest in the SunRiver St. George 55+ community, and almost overnight the phone has been ringing with buyers who want to find their next home in the SunRiver St. George Adult Community.

Sunriver is a great investment on resale homes simply due to the fact that the prices have come down, making it more affordable than ever to reside in such an exclusive community.  SunRiver is more expensive (price per square footage) than surrounding areas; however they are also the lowest in the notice of defaults and foreclosures.  This has maintained the desirability of Sunriver and cemented the integrity of the community.  While many neighborhoods are undergoing extreme change with market volatility due to an overwhelming foreclosure activity, Sunriver has had minimal change and minimal foreclosure activity. 

In the past 6 months, there have been 44 homes sold in SunRiver St. George.  12 of the 44 sold were sold for under $200,000.  15 were sold in the $200,000 to $300,000 range and the remaining homes were over $300,000.  Of all 44 sales in the past 6 months, only one was reported as a Short Sale (distress) property.  This is a great statistic, considering the fact that in the past THREE months 567 notices of defaults have been filed in Washington County!  In the next 30 days (11-22-10 to 12-22-10) 207 properties in Washington County Utah are set for final foreclosure proceedings. 

If you are thinking of purchasing your next home in Sunriver, contact Paula Smith, REALTOR today.  I represent the buyer...not the builder.  This enables the buyer to achieve the best possible price.  Visit my Sunriver St George page to see all MLS listed SunRiver homes for sale!