Closed Home Sales Up; Median Price Up; Inventory Down!

By
Real Estate Agent with ERA Realty Center

What are buyers waiting for?  I believe the real estate market has already turned around in the Iron County area for median price homes. Recent UAR statistics seem to indicate that it would have been better to purchase a few months back. It may be a little late to go back in time, but I believe this is a great time to get a fantastic deal on your home while many bargains can still be found and interest rates are so low that monthly payments can be low and less than rent in many cases. 

Buyers in our real estate market may need to compete with other buyers for their home.  The bargains are attracting multiple offers, so buyers may need to exercise patience in order to be successful in purchasing their home. 

Last week I had a buyer call and asked to please be their real estate agent. I would have loved to do so except I asked if they were working with an agent and they were. Why did they want to fire their agent?  The said it was because they had offered on 4 different homes, and someone else always got the home. It was obvious that they needed to offer more in order to be the successful home buyer. 

Buyers may need to pay the list price and sometimes more to be the successful bidder. Some buyers have been willing to pay above appraisal in order to obtain their bargain-priced home. They understand that when a market turns up the appraiser uses sold comparables from the past that may not reflect the higher value as the market rises. 

Buying your dream home is still lots of fun. I believe acting now is important. Please call the Naisbitt-Bagley team at ERA Realty Center at 435-865-1019 for experienced agents that know the market and have the negotiating skills and contract knowledge to benefit you. You can also email naisbitt@inxsnet.com or call toll free at 800-934-3742. 

Check out the homes for sale at www.homesincedarcity.com for foreclosures, short sales, new construction and other values today. Then call the Naisbitt-Bagley Team at ERA in the Cedar City UT area and all of Southern Utah for your free tour of homes at 435-864-1019. They will work hard to make your transaction fun and easy and they can help with every home thanks to the MLS. 

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realtors
foreclosures
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Rainer
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Erna Neal
The Viking Team, Realty - Winter Park, FL
A Knowledgable Central Florida Realtor

Janet, I'm seeing this trend in my market as well, prices are going up, there are bidding wars between buyers. I just wrote a blog about this situation yesterday. We need more inventory and push our buyers to move quickly to get them into the home of their dreams.

Jan 15, 2013 11:19 AM #1
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Rainmaker
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Janet Naisbitt-Bagley

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