Janet Naisbitt-Bagley Team’s April 2012 Real Estate Newsletter Update
According to first quarter graphs from the Iron County Board of REALTORS Multiple Listing Service (MLS),103 homes were sold in Iron County under $99,999; and 130 homes sold between $100,000 and $199,999. Therefore, 233 homes sold under $200,000. Only 45 homes sold above $200,000 including all the way up to the highest priced home that sold. Lower priced homes seem to be attracting buyers & investors that could not qualify in years past.
According to the recent Utah Association of REALTORS (UAR) February Local Market Updates by County, Iron County Median Sales Price is $85,000 YTD 2012 which is down 15.5% from $100,600 YTD 2011. Closed Sales are up 2.3% YTD in 2012 as compared to YTD 2011. More buyers are purchasing homes for less money. Buyers seem to be searching sq. ft. and price before calling agent to see homes. Then they pick the home that shows beautifully!
According to an Email from Utah Association of REALTORS (UAR) received April 24, 2012, “Utah home sales rose for the ninth consecutive month in February. With 500 more homes sold than last year, this was the strongest February for residential sales since 2007.” This is good news to the real estate market and to our economy.
Please go to www.homesincedarcity.com to see current real estate for sale on the Iron County Board of Realtors MLS. You’ll find attractive foreclosures, short sales, new construction, HUD homes and other bargain-priced values available. Sellers can check out their competition and price to beat it. Buyers can find their dream homes. Investors can begin their search for the home their renter can pay off for them.
Interest rates and prices are still both low at the same time which is a great combination for getting that desired low monthly payment. The inventory of homes for sale seems to be diminishing, so I believe it’s a good time to sell and buy. Land, lots, commercial and acreage are still slow to sell in this market due to availability of resale bargains.
Owners in this real estate market who find themselves under water, which means they owe more than the value of the home, have many options besides foreclosure. I recommend that they call their bank and have those outlined for them. They may include loan modification, refinance, and etc. which may allow the owner to keep the home. Options may include short sale, deed-in-lieu of foreclosure, and etc. Sometimes there are monetary compensations for a homeowner who completes a short sale. Ask your bank.
Investors who currently own rental homes may be able to refinance and get lower interest rates under new programs available through their lenders. It’s a good time to call lenders to find out loan programs that may benefit owners. Investors are experiencing success!
Please call Janet Naisbitt-Bagley and her knowledgeable, top service team at 435-865-1019 or 800-934-3742, or you can email Naisbitt@infowest.com. Janet’s team markets aggressively and is available for consultation, questions, concerns, and gives top service.