August 17, 2008

St George Real Estate Market Reports

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!


April 7, 2008

O48 Realty Has Merged with Unisun Realty

Last week, we merged with another local real estate firm. I am now affiliated with
Unisun Realty ~ O48 Associates.
We are now working inside of Unisun’s new office. (Unisun recently moved to a new location) The address is:

1086 South Main Street Suite 1-B

Our office has built a longstanding reputation in the community for providing superior service to buyers and sellers, for both residential and commercial real estate.

We intend to continue to offer the “Free Move” which several of my clients have successfully utilized. Our move company will be the same person who we previously worked with; however, he is no longer driving his own diesels and he is no longer affiliated with the O48 franchise. Understandably, with the cost of gas he is unable to continue to drive and make any sort of profit. Outsourcing will allow us to utilize his knowledge during the process and allow him to keep the expense at a minimum.

Additionally, I am working with Joyce Bennett. She is my partner and together we intend to offer an unprecedented level of service to our buyers and sellers. She has been in real estate since 1987 and has owned her own company for over 20 years. Joyce has an active Brokers license in Arizona and an Agent license in Utah. She will have the ability to service clients that would like to buy and sell in the Arizona Strip portion (near Mesquite).

My website and contact information will remain the same. Client satisfaction will continue to be my number one priority. If I can be of any assistance, please visit my Website at www.StGeorgeUtProperty.com

January 24, 2008

New Construction or Resale Home?

Home buyers are out looking again, despite the news reports we have been hearing, there are buyers! I have received many calls from clients who are contemplating new construction or a resale home. In my St George Utah real estate market, buyers have an advantage with plenty to choose from, no matter what you want to buy. Builders have record number of homes available and the St George MLS reflects an unusually high number of listings. The high inventory coupled with lowering interest rates is making for a great buyer opportunity.

New construction is always appealing. To own a home that no one else has lived in, a blank canvass to create a home that can be yours, and the fact that everything is new, is desirable to most buyers. However, something to consider is that blank canvass can ultimately become an expensive masterpiece. With new construction, you must consider the costs of landscape (sod, trees etc…), window coverings, patios or patio covers, concrete work, and possibly block walls or fences. This is not to say that you should avoid new construction, it is only expenses that are occasionally overlooked. Selecting a home with a reputable builder who is familiar with environmental issues within the region is imperative. With all of the lending issues currently present, homeowners that are having problems also includes home BUILDERS in financial problems. A home builder can bypass construction requirements in an attempt to make the home appear complete in order to place it for sale. Possibly they are risking foreclosure on the home and rushing to get the home sold could potentially provide profit. A home inspector is a necessity even for new construction. It will be possible that the home inspector can uncover potential problems, however if you are dealing with a builder who will essentially vanish after closing, upon moving in you may uncover severe structural issues or incompleteness. This is why you must to your due diligence and select a home builder with a local reputation.

On a pre owned home usually the former owner has already incurred the costs for window coverings, landscape and other items mentioned above. Having already done the changes and still offering a lower sale price will allow the buyer to save the money and aggravation of doing it after closing. A preexisting home within an established community may provide the evidence of structural integrity within the neighborhood, as any problems may be obvious if the home has had time to settle. A home warranty from a reputable company is recommended. A home warranty can cover the homeowner for future problems, such as electrical, plumbing, appliances, and even the garage door opener. The home warranty company will repair or replace covered appliances or home issues, for a small deductible. This will give the homeowner peace of mind for home repairs. This will be comparable to the home warranty the builder will offer on the new construction. However, keep in mind; if the builder disappears it may become impossible to have your warranty honored.

Always research any home, new or pre-owned. Never make a purchase without utilizing the services of a qualified home inspector. You can learn more about Selection a Home Inspector by following this link. Use a Buyers Agent to represent you in any transaction, preferably a REALTOR. And remember the rule of thumb…if it sounds to good to be true, it is.