Time to enjoy Your February 2017 Naisbitt-Bagley Team Real Estate Newsletter Update!
Our hearts are warm this month of valentines in spite of the snow and ice. Our beautiful Cedar City area is friendly, cozy, and wonderful no matter what the temperature. This is the weather for serious real estate shopping, so don't think your buyers are staying home! Buyers need a place to live every season of the year.
Everywhere we go; people ask real estate questions. Following are the answers to a few of them:
*What is our local real estate market doing? It is steady, doing well, and slowly moving upward! According to the Utah Association of REALTORS (UAR) Market Updates by County, Iron County closed sales were up the end of 2016 by 0.2% year to date (YTD) as compared to 2015. If you just look at the month of December, then 2016 was less than in 2015 however. The median sales price was up YTD by 10.7% to $166,000. These December statistics are the latest available since it takes the UAR approximately 2 months to gather data for the report. For more details and for information on every county in Utah, see attached report.
*How is our local economy? I will quote from an article in the February 22, 2017 issue of Iron County Today in order to answer, "Many leaders shared enthusiasm about the economic growth in Cedar City among new and existing business. Those thoughts were shared at a Chamber of Commerce Economic Development Breakfast last week." Matt from your Naisbitt-Bagley Team attended the meeting and was very pleased with what is happening in Cedar City. Several companies are succeeding and expanding and quite a number of employees are being hired. New company openings and growth in tourism were discussed. Of course, it is very exciting that there will be an open house for the public in the LDS Temple in October and it will be dedicated Dec. 10. Our Mayor Maile Wilson said, "There are a lot of really new and diverse jobs," and "If you grew up here you can stay here . . . " That is great news to me because when I moved here in 1983 and became a REALTOR in 1984, many of the clients I worked with were very sad that their children had to move elsewhere to find employment. That was the case for years. Chris McCormick, president of the Chamber of Commerce, said that success is happening in Cedar City! I truly believe this is true.
Looking back to the Spectrum & Daily News January 22, 2017, there is a statement by Danny Stewart that I believe is worth mentioning. He is the Cedar City Director of Economic Development and he said, "Cedar City is getting a lot more interest and I think a lot of it is due to the quality of the workforce in Iron County." Stewart said that the list of companies looking to relocate or expand has kept him busy recently. This is all good news for Cedar City! We have absolutely wonderful and friendly people and an awesome place to live. What a great place to attract new business!
*What can be expected on the National level? The 2017 Jan + Feb Residential Specialist Magazine article titled, "Look Ahead," states the following, "Existing home sales will continue to climb, . . . " "Mortgage rates will increase ... at least a little." "Home values will grow." "Some markets may see price corrections." "The homeownership rate will stabilize at 63.5 percent." "However, inventory woes aren't likely to change."
Even though it is true that our local inventory is also low, all things considered, it sounds like we are looking forward to an awesome real estate market for both buyers and sellers in 2017!
It will be interesting to see if the following statement reported in the January 2017 MReport comes to pass and I quote from the article by Brian Montgomery, "With a trailblazing real estate mogul entering the Oval Office on January 20, 2017, a sharper focus on the U. S. housing delivery system is possible, if not likely." We shall see what happens. What do you think?
*How do we mark our real estate sold? Technology is advancing, and your Naisbitt-Bagley Team and ERA Realty Center are staying ahead of the game. Aggressive global marketing both online and in print are of utmost importance, and I don't know of anyone that markets more than we do! Our marketing is tops! Experience and knowledge are a must in our real estate world, and your Naisbitt-Bagley team has over 50 years combined experience. Our combined knowledge is in the top 3% in the nation including valuable national designations such as ABR, CRS, GRI and more. Our expertise and top service benefit both sellers and buyers on all levels of the transaction from advertising all over the world to negotiating, following up, and closing your sale.
It is extremely important to price real estate with the market. A huge percentage of buyers shop square footage and price online to decide which homes they want to see before they call us with a list of what they want to tour. It is most unlikely that they will even look at a home that is overpriced. Your Naisbitt-Bagley Team is happy to provide you with comparable sold properties and active listing competition in case a market reduction in price is needed. Please call today if you would appreciate that service.
Keeping the home and yard in picture-perfect condition is a must since your videos and slide shows show up in our ads all over the country and world. Having the home in good repair will attract a better offer and help keep the sale together when the buyer's inspector finds nothing that needs to be done! Please call us for suggestions in showcasing your real estate.
*What is selling in our area? Single family homes in all price ranges are attracting buyers with more buyers under $200,000. Lots are selling and there is new construction in the area. Commercial and development land are slow moving but expected to pick up speed. We definitely need more multi-units especially duplexes and 4-plexes for our investors.
*Now back to the original question--how's the real estate market? I would definitely say it is alive, well and moving forward with your Naisbitt-Bagley Team at ERA Realty Center. For all of your real estate needs, questions and concerns, please contact your Naisbitt-Bagley Team at 435-865-1019 or email email@example.com today. Please text and call Matt Bagley, 435-590-8788, Jennifer Corral, 435-559-0366 and Janet Naisbitt-Bagley, 435-559-7772, and we will help you turn your realty dreams into reality!