We're Having a Heat Wave! Bask in the Warmth and Enjoy Our ERA Realty Center Naisbitt-Bagley Summer 2016 Newsletter!
We're feeling very patriotic this month as we continue to celebrate our freedom and independence in this great America the beautiful! With Pioneer Day and the 4th of July this month, how can we help but be filled with gratitude for those who have gone before us? It is difficult to believe the middle of summer is upon us, but our beautiful Southern Utah sunshine is proof positive!
Real estate is one of my favorite subjects, and the right to own our own homes is one of our treasured blessings in the USA. I started helping my dad with his real estate business as a little girl in Bountiful, UT! I have thoroughly enjoyed being a REALTOR myself now for 33 years, and I love working with our top trained and experienced Naisbitt-Bagley Team to benefit you and to help you reach all your real estate goals! Thank you.
The question we are asked wherever we go is, "How is the market?" Home sales are steady and doing well in Southern Utah, and it appears that home sales are facing a bright future! Please check out the attached Utah Association of REALTORS (UAR) most recent available closed sales statistics for every county in Utah. According to this report, Utah's closed sales are up 2.2% YTD and Utah's Median Sales
Price is up 7.5% YTD indicating a steady market on the rise in the whole state.
From The Spectrum & Daily Newspaper dated July 23, 2016, we read more good news for our state in the article titled, "Utah ranked No. 1 for business" and I quote, "Both Forbes and CNBC have ranked Utah as the top state for business, listing growth as a major contributing factor to that success." Also listed in the article as contributing factors for success in Southern Utah are low taxes, local and state governments trying to make it easier, dedicated people, new companies, Southern Utah Museum of Art, the LDS Temple, the Festival and more. The article is very positive and informative. I would add that it is awesome that Southern Utah has something for nearly everyone including universities, national parks, the arts, culture, hunting, fishing, camping, summer games just to name a few.
On the National level, we learn who is buying homes in today's market. To quote from one article in the July & August 2016 Residential Specialist Real Estate Magazine, "First-time homebuyers make up roughly a third of the buyers who will hit the market this year, a number that is poised to grow." To continue, "These buyers are a little different than the repeat buyers who dominate the market. They are a little younger and need to be a little thriftier than their home-owning counterparts. The median age of a first-time buyer is 31, while the median age of a repeat buyer is 53." The article goes on to say that most first-time buyers make less money and have less down payment. Top on their list is an updated kitchen, bath and open floor plan. They are interested in low maintenance, convenient location, and energy efficiency, but those are lower on their want list.
Trends are changing a bit nationally according to the article in the same magazine titled, "Failure to Start." It states, "The starter home has long been the first step into real estate for many homeowners. It's typically smaller, cheaper and in need of a few minor repairs, and now many buyers feel it may not be worth their time. Buyers are increasingly favoring the idea of the forever home over the starter home, according to Bank of America's Home Buyer Insights report. Seventy-five percent of first-timers want a home that will fit their needs in a few years, and nearly 70 percent are willing to wait to save more money and move into a nicer home in the future rather than buy a starter home now." The danger I would see with that idea would be that it is a proven fact historically that real estate prices go up over time and often faster than most people can save. I can testify to that since I have made more money on my real estate investments over the last 25 years than in any other way. Therefore, it seems to me that purchasing an affordable home now would be the wisest way for first-time buyers to poise themselves to purchase that forever dream home later! I also strongly recommend buying rental properties, motels, commercial buildings and other real estate as the best investment for almost everyone.
For sellers, this is a steady real estate market. If your real estate has not sold, I strongly recommend the
following:
1. Request a market overview consultation from our Team to see what has sold in the past month instead of yours. Are buyers passing you up for lower priced properties or properties that are in better
condition? We need to go over sold properties with you to make sure your real estate is priced with the market.
2. Then request a consultation with our Team to make sure your home is attractive and in show-perfect condition since your pictures go all over the world on-line. There may be some fun and easy things that can be done such as romantic lighting, exciting yards, the appearance of light and space, fresh paint and inexpensive decorations. The nice thing about decorations is they go with you when you move but help you sell the home quickly. Be sure all repairs are made and that the home is in tip-top form.
3. Top marketing is a must in this market, and that is our job! We will continue to market your real estate worldwide as well as locally to buyers and to agents. We market to agents as well as buyers because we don't know which agent your buyer will call! Therefore, we may not be the one that sells it, but we will most assuredly be the reason it sells thanks to our aggressive marketing.
For your free real estate consultation, please call our Naisbitt-Bagley Team at 435-865-1019 today at ERA Realty Center and email us at bagleyteam@gmail.com. You can call or text Matt Bagley at 435-590-8788, Janet Naisbitt-Bagley at 435-559-7772 and Jennifer Corral at 435-559-0366. We would love to discuss market pricing, home staging, problems, concerns and anything else to help your realty dreams turn into reality! We love referrals and we love hearing from you!
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