How's the market? Spring Forward to May 2016 and Enjoy this Naisbitt-Bagley Team, ERA Realty Center, Real Estate Newsletter Update!
Our local Southern Utah Real Estate market seems to be going strong and steady. According to the latest Utah Association of REALTORS (UAR) statistics available, Iron County closed sales are up 12% as
compared to the same month in 2015, and the median sales price is up 5.2% to $152,000. Washington County closed sales are up 10.8% and the median sales price is up 2.3% to $225,000 for that month. If you look at the year to date (YTD) figures for Beaver County, closed sales are up 14.3% and the median sales price is up 17.6% to $113,000. Please see the attached UAR Local Market Updates for more details and for every County in Utah. Since it takes UAR approximately 2 months to compile these statistics, this March report is the latest available.
Most buyers are purchasing their own happy home, but investors are on the rise. On the national level, here is a quote from the May/June REALTOR Magazine 2016, "Investors are big players in real estate and they’re expected to continue to have a strong role in many markets in the coming years. In fact, real estate is increasingly viewed as more desirable than stocks and bonds, with real estate ranking as the top investment choice in a 2015 Gallup poll." Southern Utah is definitely one of the real estate markets with investors, and they are looking for properties that can be rented for enough that their tenants' rent can cover the mortgage and maybe even make a profit after expenses. I believe rentals are the best investment because the renters typically buy the properties for the landlords. How nice of them! We do have renters looking for rentals in our market!
Attracting that buyer requires preparation by the owners. To quote from an article in the May + June issue of the Residential Specialist 2016, "Remodelers Today, Sellers Tommorow," "...curb appeal is a huge part of making that vital first impression to potential buyers and can actually upgrade a home's value." We recommend cleaning up, fixing up, painting, sprucing up, adding lighting, clearing gutters, landscaping improvements, and etc. The inside of the home must be show-ready also! The pictures of your property go worldwide to attract buyers and real estate agents to see your home.
The Residential Specialist magazine recommends that sellers and buyers choose an agent with the advanced knowledge, business experience, and referral network found with national training designations: ABR (Accredited Buyer Representative), GRI (Graduate Real Estate Institute), and CRS (Certified Residential Specialist). When you choose an agent with ABR, CRS, GRI, you choose the best of the best. These credentials held by Janet Naisbitt-Bagley as well as other designations held by our Naisbitt-Bagley Team are an important part of our Team's top service and expertise that benefit buyers and sellers.
It is imperative that we continue to stay ahead in this age of technology and of buyers going on-line to find their homes! Our on-line advertising and top technology benefit both buyers and sellers in the current real estate market. Since most of our buyers are from out of state, our worldwide advertising is a must! Due to local activities such as Shakespear Festival, hunting, fishing, the arts, plays, camping, National Parks, etc., our local advertising is also very important. Clients and customers pick up those ad books and call to see homes. I don't know of anyone that advertises more aggressively than our Team which helps our clients succeed in reaching all their real estate goals.
Pricing and home staging are also incredibly important. Buyers search for the best buys and then tour their favorites. They usually pick the homes that show the best and are the best value for their dollar.
There are some buyers looking for fixer uppers, but they expect to pay bottom dollar and make a big profit for all their hard work.
Lots and new construction are selling. Commercial and land development are still lagging behind residential sales, but we are seeing a bit of action there too.
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 at435-559-7772 and Jennifer Corral at 435-559-0366. We would love to discuss staging your home and making sure your list price is at current market value. Do you have any problems or concerns and is there anything else we can do in order to continue to give you top service in helping your realty dreams become reality? We would love to hear from you and we love referrals!
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