For
a few months now we had been waiting and watching as much of the nation held
its collective breath to see election results. In terms of real estate, the
impact of elections is largely undocumented but often translate to buyers (and
sellers) preferring to hold back until there is a result on record. There is
traditionally a spike in the economy during a Presidential election year,
which, as we all know, boosts consumer confidence, and the whole cycle starts
up.
Sales Are On the
Rise Across the Board
Locally
in our area we are experiencing a surge in sales, mostly due to the
unprecedented low interest rates combined with equally as remarkable low
property prices. Sales increases were reported throughout all regions in the
US, including a few with increases logged in the triple digits – and equally,
the St. George area marketplace mirrors this trend.
It’s An Excellent
Time to Buy
This
remains one of the best times ever to buy a home. Prices are low and interest
rates continue to remain lower than ever before with some loan products offered
at 2.25%! The current market trend has created the unique situation of an
environment that is ripe with opportunity for buyers and sellers alike.
Sellers Are Also
Enjoying Success
In
fact, buyers are faced with the situation of having to figure out how to get
the property of their dreams. With so few homes on the market we are seeing
more and more price wars and the need to be highly competitive at the
negotiation table.
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If
you would like to explore the real estate market to see what is out there,
contact us today. If you may have found the right home and now you need a team
of qualified, experienced and expert negotiators by your side – get in touch
with us! And if you know of someone that is looking to buy, sell or just feel
the market out, send them across! We look forward to serving all your real
estate needs!
Watch on your mobile device >> In this
business of real estate, things seem pretty much cut and dry. Until you get to
work with a short sale. Now for most agents, that’s the last thing they want to
do but some of us enjoy the process. That is why I am writing to you today.
As your
fellow colleague, working with the Keller Williams Realty office here in St.
George, I wanted to send a shout out to you and let you know of our agent
referral program. We provide agents that send over referrals to short sale
properties with a fee for their time and efforts. In fact, as one of the ways
to show my appreciation to those agents that take the trouble to send these
short sales across, I provide an advance of $500 for each listing as it gets
posted on our MLS.
If you
have evaluated your business in light of our changing market and decided that
short sales is a worthwhile endeavor to get involved in and would like some
help with any of that – please do not hesitate to contact me. I welcome the
opportunity to work with you and assist in any way that I can.
If
during the process of looking over your preferred angles of business you
consider short sales to be a less than desired use of your time, please send
those over to me. The same goes for any people you may know of that may be
looking for alternatives easily obtained through a short sale.
As you
can see, I have strong confidence in my team and our systems – so much so that
I am willing to risk losing the $500 advance on our agent referral bonus in
case a short sale property does not sell.
So once
again, if you’ve got short sales that you’re stuck on or you know someone that
is in a quandary and is not sure what their options are – I’d welcome the
opportunity to meet with you, schedule a phone consult or anything else that
may be of assistance.
I can be
reached directly on my cell phone at 435.229.4442 and I look forward to hearing
from you!
So you’re finally ready to build your dream home and everything’s lined up and ready to go? It turns out that as new homebuyers begin the process, they (very legitimately) have a number of questions and concerns at first. Concerns about being able to stay on budget, how involved or hands-on the builder will be and also accessibility to the contracting developer. Today, we have outlined some of these commonly asked questions to help out new buyers feel at ease about the process.
How Can I Make Sure We Stay On Budget?
The number one concern that most buyers of newly constructed homes have has to do with the budgeting. With the cost of upgrades seemingly building up and adding up, homeowners fear they will not be able to pinpoint a price at hand or worse, go over their bank-approved budget.
The way to address this is to complete all choices and selections for the house in advance during the time the contract is written. That way both the builder and buyer are fully aware of all costs at hand, in advance.
Will I Be Able to Access the Builder Once the Project Starts?
With an ongoing project like a new build, clients want to be able to have some involvement. A common concern is whether or not they will be able to access their builder once the project starts. This concern is particularly important for some people given reports of unscrupulous builders that run off once all contracts are signed.
When signing your contract, be sure to obtain all contact information from your builder and ask about their accessibility. Multiple forms of communication should be offered, including phone, text, email and in-person meetings as needed. Also, the builder should have an on-site presence every working day during your project.
What Happens With Unexpected Changes?
Things happen – especially when a new home is being built. Buyers often fear those unexpected changes adding up to additional time and an added expense that will be incurred as a result of those changes.
Going back to staying on budget, the contract should have a clause about any changes needed, with the requirement for the builder to discuss any additional time or budget constraints prior to proceeding further.
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Being less than prepared is a problem for the buyer and the builder alike. To protect both parties, it is best that all discussions take place to the maximum possibility before the contract is signed. This way, both can rest assured that everything will work out perfectly! If you would like to learn more about building your own dream home, contact us today!
As you embark upon what will be one of the most important transactions of your life – whether buying or selling a home – you should be absolutely certain that you are happy with the real estate agent you have hired to help you manage it.
To help you with this all-important hiring process, here are ten important questions to ask an agent before you decide on whether or not to hire them:
Question #1
How Many Homes Did You Sell Last Year?
Nothing speaks louder than numbers. A very important statistic, ask what the total number of homes sold last year was and if possible try to get a more long-term picture of the agent’s performance in this regard. You can also ask for a month-to-month breakdown to see if there are certain stronger months.
Question #2
What Percentage of Deals Do You Represent the Buyer Versus Seller?
Some agents work primarily with sellers while others work mostly with buyers and still others are experienced with dual-agency deals. Depending on your needs, you will benefit from an agent that specializes in one of the two. It is important to ask which side of the fence your prospective agent tends to represent.
Question #3
What Does Your Daily Schedule Look Like?
The typical schedule of a real estate professional can be very telling. By asking for a copy or general idea of how they conduct their day in terms of their work, you can get a good idea of how much time is devoted to the profession and what kind of business they are running.
Question #4
What Do You Do Differently To Get Homes Sold?
Especially with the current trying economic times, many agents have been faced with adversities trying to sell the homes on their list. One of the best ways to learn whether your agent is a self-starter is to find out what they have done in the past when they were unable to successfully sell homes. Ask why the agent feels the home(s) did not sell and then find out what they are doing differently to get them sold.
Question #5
How Many Days on Average Does It Take You To Sell a Home?
What’s the average number of days on the marketfor properties listed by your prospective agent? Since this statistic can reach as high as six to nine months and in some cases and as much as a year, it is important to ask how your prospective agent ranks on the scale.
Questions #6
How Close Do You Get in Sale Price Related to Asking Price?
It is important to ask for this information as it relates to the past 60 days. Given that many agents are not that active in the market, you would be best served to obtain the most recent information possible. As a seller, your agent’s ability to come close to the asking price is a strong attribute and can mean a difference of thousands of dollars in your transaction.
Questions #7
Can You Provide a List of the Ten Most Current Clients You Have Worked With?
Rather than rely on the given list of referrals that many agents have handpicked, it’s a good idea to obtain a list of clients that are currently working with this Realtor. It will provide a much-needed glimpse into the agent’s performance on various stages of real estate transactions.
Question #8
How Much of Your Work Day Do You Dedicate to the Real Estate Industry?
You want an agent that is 100% committed to their job and if they are focusing more on a day job with real estate being a secondary thing, you run the risk of inaccessibility, lack of knowledge and experience plus lackluster motivation. Find out how they feel about the real estate industry and whether they are passionate about their work.
Question #9
What is Your Style of Marketing – Proactive or Reactive?
What is your potential agent’s style of working? Does he or she speak to a large number of people each day? Are they proactive or reactive in nature when it comes tomarketing? See how this lines up with your real estate needs. Are you in a hurry to buy or sell? Does a laid back agent hinder your efforts? Or does slow and steady work better for you?
Question #10
What is the Rate of Homes Sold on a Monthly Basis?
Knowing the absorption rateof homes similar to yours that are on the market allows valuable insight as to how the market is performing for your particular needs. Not only does it give sellers a glimpse into the system and how it would translate to their own sale but it also presents a broader view of the entire market in general.
Great news! We can finally see an economic recovery ahead! And one of the most promising indicators of this is how well our real estate market is performing. Here’s a snapshot of what has been going on in terms of sales, inventory and prices in our local marketplace.
As the nation, including us, continues to enjoy historic low interest rates there has been a lot of activity across the board. As such, the number of available homes on the market has been dwindling. This, of course, leads to increased demand, which in turn results in prices beginning to climb. And who does not want that?
As of the latest report, we saw a significant reduction in the number of available condominium units and townhomes at an 11% drop. But at the same time we are reporting an increase in prices of 7%, a great sign of recovery both in the housing market and our economy.
Single-family homes on the market have dropped down 3% however at the same time prices have risen 2%.
The most noteworthy change is a 43% increase in the number of available land lots – and we are even starting to see prices come up a bit. We will be watching this closely and of course will report back to you if there is a change in activity on that end.
What do these numbers mean to buyers and sellers? It means that buyers need to act carefully and have more to consider now than what they have been used to the past couple or few years. In terms of sellers, the time is finally here for them to also enjoy some success.
As our inventory continues to shrink and demand continues to rise, it is critical that buyers have a strong negotiator on their side. Not only is this important given the number of offers that are coming through on properties these days, but it is also vital to the success of your bid. Many buyers are not getting their offers accepted and so with a good agent assisting you in this process, you can hope to achieve success after making your offer.
Sellers, on the other hand, must be fully aware of the changing market and how it impacts what they have known to be true these past several years. For the first time in a while, sellers can now expect more for their properties. We invite you to have us visit your property so that we can tell you what we think it is worth – we will assemble a free report on the sales of comparable properties in the area and advise on how to price your home. These days we are seeing many of our sellers getting at or very close to their asking price and it’s time to leverage that edge you have on the market!
If you have been on the fence about buying or selling, trust us – this is a great time to invest in a change in your real estate outlook. In a very unique situation, both buyers and sellers today are enjoying the market and reaping benefits of an ever-evolving and changing scene.
Call me on my cell today at 435 229 4442. I welcome the opportunity to meet with you!
Little did many of us realize that we would be facing the issue of not having enough homes listed for sale. Well, today we are definitely in that position and we are calling out to all clients, friends, associates and others to help us out! In fact, we have so many buyers that are eager to lock in the amazing interest rates that are out there – but we just do not have the number of homes needed to satisfy all their needs.
If you have been on the fence about selling your property, have you considered lately the benefits of selling in our changing market of today? Not only are market values on the rise but also sellers now have more leverage than they have been able to enjoy in years. When you look at it, this is the time when buyers are scrambling to lock in the lowest interest rates in the history of our real estate market. At a time when buyers are eager, sellers do not have to worry about offering major concessions (a trend in harder hit, buyer controlled areas). Neither do sellers find low list to sale ratios. In other words, sellers today are more than likely able to achieve at or near list price.
Bidding wars, multiple offers on homes, high likelihood of sale within a relatively short period of time – all these are great reasons to list your home on the market today! All this opportunity could end if interest rates begin to rise again – a trend that analysts are beginning to report in some markets.
If you have been unsure of whether or not to sell, keep in mind that with increasing values and buyers eager to lock in low interest rates, the opportunity is ripe for selling success but it may not last long. Contact us today if you would like to list your home – we welcome the opportunity to match your property with one of our buyers! Call Heidi directly on her cell phone at 435.229.4442 or contact Rachel Jessup at 435.767.9856. We look forward to helping make your real estate goals a reality!
