Naisbitt-Bagley Team May Newsletter
According to the attached recent Utah Association of REALTORS (UAR) "Local Market Updates by County," Iron County sales year to date are down 11.6% as compared to the same time last year. I believe this may be due to the lack of inventory in this market rather than to the lack of buyer.
With the decrease in inventory, sometimes nice homes that are priced right will attract more than one buyer. Even though there are several buyers wanting a home, only one wins. Therefore, only one sale occurs and one closing. The remaining buyers must start their search for the right home again. If there had been several similar homes available, there would have been several closings rather than just one. There are serious buyers and investors in this real estate market.
According to the same attached UAR Market Update for March 2013, the median price has risen year to date by 5.9% to $115,400 in Iron County. The complete report for all counties is attached for your information. It takes the UAR 2 to 3 months to complete the report. My next Market Update will include April's UAR report.
Some sellers are taking their homes off the market hoping the prices will rise. We do not know what the future will bring, so that plan may backfire.
It is not possible to accurately predict the low and the high of the market.
It is my opinion that it is a good time to sell while inventory and interest rates are down and while buyers and investors are buying.
Some of our home listings have sold above current market value. We have
even had a few buyers willing to pay above appraisal to get the home they want. Not all buyers have extra cash to put down in order to do that.
Buyers in our market still want a bargain, but some are realizing there is a shift occurring from the strong buyers' market of the past few years to a steady market due to supply and demand.
I believe that if sellers want to sell, they should do so now while buyers want to buy. Buyers are attracted when prices and interest rates work together to make an affordable monthly payment and when the home shows well.
If either prices or interest rates go up, it becomes difficult for buyers in this market to qualify.
California and Nevada real estate markets seem to have improved which is good. Buyers are looking for bargains when they come here from out of state to buy. They go online and find the best prices per square foot. Then they tour the homes, and they choose their home from those that show the best and have the most upgrades.
We have helped many sellers mark their real estate sold with our aggressive marketing, contract writing and negotiating skills. We love our experience, training and service to benefit you with your real estate goals. I am not aware of any marketing more aggressive than the Naisbitt-Bagley Teams'
online or anywhere.
What are the 4 MUSTS to sell a home or property in this real estate market?
1. Aggressive marketing by the Naisbitt-Bagley Team. Ask to see our successful marketing plan that works!
2. Competitive pricing with current market. Ask for a free valuation, so your home or property will attract the action in this market.
3. Show-perfect staging. Ask for free consultation to show case your home or property.
4. Be ready to show your home when a buyer is ready to look for maximum exposure to buyers. Buyers on tight schedules rule out houses not available for showings.
What about the buyers in this market? Some buyers are discouraged by the lack of inventory and get disappointed when another buyer outbids them for a home. I strongly recommend that buyers stick to it and do not give up. The Naisbitt-Bagley Team has helped many buyers find happy homes and they are grateful they were patient and successful.
What are the 4 MUSTS for buyers to buy a home or property in this real estate market?
1. Portal to Multiple Listing Service (MLS) to get a complete and current
list of homes for sale. Ask the Naisbitt-Bagley Team for yours. It is
free.
2. Automatic emails of the new listings as they come on the market and of price reductions as they hit the MLS. Ask the Naisbitt-Bagley Team to set up your free emails.
3. Tour of homes. The Naisbitt-Bagley Team can set up and help with your tour of every home thanks to the MLS which saves you time.
4. Negotiating skills and contract skills are a must. You will want the experienced and highly trained Naisbitt-Bagley Team to write and negotiate your offer.
Homes in all price ranges are selling especially homes under $150,000. Lots are selling and there is new construction. Existing homes are the big sellers. Commercial and acreage are still slow sellers but do happen.
For your free consultation and answers to concerns and questions, please contact the Naisbitt- Bagley Team at 435-865-1019 at ERA Realty Center or text 435-559-7772 today. You can also email naisbitt@inxsnet.com.
Most of the Naisbitt-Bagley Team clients come from referrals. Please let us know if you know of anyone with real estate needs whether buying, selling, or investing. We will work hard to help them achieve success!
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