Matt Bagley Team Real Estate Newsletter For Fabulous April 2018 For You!
How's the market? Allow me to quote one of Cedar City's top REALTORs, our own Matt Bagley, "Buyer activity is starting to pick up. It's a great time for selling and buying with rates still low." The real estate market keeps getting better and better. Join the fun! Your Matt Bagley Team would love to help you reach all of your real estate goals!
What do housing statistics tell us? The Utah Association of REALTORS (UAR) latest published report shows closed sales are up this year in Iron County as compared to last year by a whopping 36.4%! The Median sales price is down 1.4% to $185,450 year to date (YTD). See attached "Local Market Updates by County" for more details and for information on every county and for the entire state.
Do Americans still want to own their home? According to an article, The American Dream, in The Residential Specialist Real Estate Magazine for March/April, "Agents find homeownership still reigns..." Mary Beth Klatt says that renter's end up paying the landlord's mortgage, but they don't reap the benefits. To quote Mary, "...the cost of renting is rising faster than the cost of homeownership..." She also said later in the article, "...tenants are paying top dollar and not gaining equity..." This scenario also applies in our area.
What about preparing homes for sale? What do buyers want? Donna Shryer, in the the same magazine, said mechanical and structural issues could kill a deal. She said "Pre-listing inspections can sometimes provide more value than staging." She quotes Craig Webb, editor of Remodeling magazine, who said, "The highest resale payback is in projects that involve replacing what's broken, inefficient or outdated." He emphasizes that exterior projects have been outpacing interior projects including landscaping and fresh paint as well as new doors, windows, siding and roof. "Curb appeal is more important than ever," Pitell-Hauge says, "It's partly because most people start their search online. So first they see the front of the house and then they move on to interior photographs." Properly preparing homes for sale is of utmost importance in this real estate market if you don't want your buyer to move on to the next property!
What colors should sellers use? According to Rike in an article titled, "A Warm Welcome, "Specifically addressing walls, anything bolder than warm gray, warm beige or better yet, a combo called warm greige, can immediately shut a buyer down." He says that color trends for 2018 are bolder but to use those for furniture, bathroom towels, shower curtains, kitchen knick-knacks but not for anything permanent because buyers would be too worried about the fortune they would have to pay to repaint.
What about inflation? Lawrence Yun, National Association of REALTORs chief economist, answers in the NAR REALTOR Magazine March/April 2018, "Rising labor costs, increased government spending, and prolonged housing shortages are the main pressure points." What do we need to curb inflation? He answers, "Build more homes. More inventory will mean a slower rise in home prices and rents." Otherwise, we may see higher interest rates. We appreciate the homes and properties available for sale but more inventory is needed.
What about advertising? That is super important! Your Matt Bagley Team marketing online and in print is still tops! Our radio advertising attracts attention to your property. We advertising to both REALTORS and buyers all over the world. Our goal is to have an ad wherever your buyer might look! We are creative! We don't know of anyone marketing more aggressively and we will continue to do so in order to get your real estate marked sold! Our marketing works and will be the reason your real estate sells.
Is your home or land sales price competitive? Please contact your Matt Bagley Team at 435-865-1019 at ERA Realty Center today for your free consultation regarding market pricing overview to see what buyers have chosen instead of yours and why. We would love to address your concerns, questions, pricing, staging, and etc. You can also email email@example.com or call/text our mobiles: Matt Bagley at 435-590-8788, Jennifer Corral at 435-559-0366 and Janet Naisbitt-Bagley at 435-559-7772. Janet Naisbitt-Bagley wrote this article for you!