The St George Utah Real Estate Market Summary
July was not a bad month for real estate sales in the St George area. Considering July is statistically the second slowest month (first place belongs to January) St George pulled ahead in this turbulent market. If you would like to see a market snapshot for July 2008 St George Real Estate Market, visit my monthly reports: http://www.stgeorgeutproperty.com/blog/paula/st-george-sales-statistics/ Here, you can find various graphs and statistics updated monthly.
Foreclosures are on the rise in Washington County. Unfortunately, I believe it will become worse, before it becomes better. Each month, Washington County is breaking records from years past, for all time high notice of defaults being filed.
Foreclosures are not necessarily "deals". As I have personally witnessed many homes that have been destroyed by previous owners and tenants. Often, the former residents will sell off the homes appliances. This can make it impossible for a new buyer to obtain financing (FHA will not fund a loan unless the home is complete). Making lenders unable to provide loans on property, limits the already reduced pool of buyers.
It's not all DOOM AND GLOOM! There are some great deals out there being offered by some motivated sellers. Sellers are offering huge price reductions just to get their home sold. If the price is competitive, homes are selling in a matter of days or weeks. Buyers are able to achieve deals that vanished as market began to rise over three years ago. So, if you thought that home you liked down the street was still a bit to high in price, make an offer! You may find yourself with an accepted contract!
Check out all property listed for sale on my website! www.StGeorgeUTproperty.com
You will NOT have to sign up and my site offers the most up to date resource for MLS listed homes around!