St George Utah real estate home values are continuing to trend upward, further evidence that real estate home prices are on the rise here in St George Utah is in.  Upon review of the homes that have sold over the past 30 days (Greater St George, residential), there were a total of 182 sold homes.  AMAZING results show that a total of 17 of these sold homes were purchased in the past couple of years 2- 2 ½ and they sold at a PROFIT now.  Many had small profits of $3,000 to $10,000 but others enjoyed as much as $30,000 and $40,000 and 3 took over $100,000!  WOW!  3 other homes were purchased within the past 5 years and took a profit.  So 20 homes (that were purchased within the past 5 years) out of the 182 sold, were sold at a profit. 11% of the sold homes over the past 30 days, sold for a profit.

Surprisingly there were very few homes shown in this time that took a loss. Of the 2 or 3 homes that took a loss, they were those purchased in 2005 or 2006 which was during the pricing peak in our housing market.

St George Home Flippers Cash In

St George house flippers are scoring big with some of these homes.  However, not all of these sold homes were from professional home flippers; some were just lucky buyers who jumped in at the perfect time.  Personally I’ve sold 2 homes in the past couple of months that were previously (and recently) purchased for less, within the prior year, (neither of my sales are included in this result).  As for professional flipping, I think there are still some opportunities out there; however the competition is very fierce.  Often, homes will sell at or ABOVE asking price and will receive multiple offers. 

Thinking of buying a home in St George?

Traditional buyers, there are still some nice homes out there and if you hurry, you can still get in on some great pricing, leaving opportunity for profit IF values continue to rise as they have demonstrated over the past year.  Of course my recommendation would be: do not buy if you don’t plan to own for the next 3-5 years, as we are still in a very volatile housing market and things can shift downward in an instant.   

Flippers, you can get a deal, but you’ve got to have cash in hand and be prepared to move quick with very little contingency’s and short windows of due diligence.  The days of low-ball offers are about over, so be ready to bid realistically.  Any buyer should align themselves with a St George Utah buyer’s agent (I just so happen to be one) :-) and allow the agent to do the neighborhood research so that you can make a reasonable offer on your next home.  Writing a reasonable offer is only one element to a likely acceptance, you’ve also got to have realistic time lines and earnest money deposits.  Savvy agents will understand the importance of all elements to a well written contract.

Overall, it appears we’ve hit bottom, sometime late last year and we’ve been trending in a slow and steady upward position since then.  Inventory continues to trend in a steady pattern, which is significantly less than years past; again, another element to the housing recovery. 

St George Utah Listing Agent

Are you ready to sell?  Maybe you will be on of my list of "profit sellers" for next months report?  Contact Paula Smith Remax First St George for additional information.