Friends and Clients —

If you’ve been considering selling your home, then this winter, (“early spring” in St. George ☺) represents an incredible opportunity.

First, home prices have hit record highs over the past few months.

In fact, St. George area home prices are the HIGHEST we’ve seen them since the housing bubble “burst” after 2007. 

In spite of this, the current market is NOT experiencing a bubble like we saw 10 years ago.

Instead, today's high prices are mostly driven by a lack of supply. Really. 

We’ve talked about this dynamic on our weekly radio show for some time now. People see a place like Little Valley exploding and it feels like we’re getting overbuilt. Logical conclusion. 

Yet…..yet, Washington County saw only 45% as many building permits in 2016 as we saw in 2005! 

The St. George real estate market appears to be “safe and sound” for the time being. 

That's why — if you are looking to sell your home — you are in such a good position right now…the best in nearly a decade. 

Second, we are seeing a period of low but rising mortgage rates. 

For example, the average 30-year mortgage rate has been steadily increasing from its low of 3.37%, recorded last July. It now stands well above 4%.

It’s true that by historical standards, today's mortgage rates are still very low.

And when you combine this with the possibility of continuing increases in the near future it's clear why so many home buyers are eager to take advantage of the current situation.

Third, we've made it to the end of the election cycle. (Thank….heavens…)

Many people were sitting on the sidelines because of the election and the associated uncertainty.

They are now re-entering the real estate market . . . and this will keep demand healthy in the coming months.

Now, even though it's only January, folks are already in St. George from colder, “inversion-infested” markets looking for homes. 

Spring is traditionally the hottest season for the real estate market, and you have to get moving now to take advantage of it.

To get started, check out a home value calculator I've put up on my site.

It takes into account recent Southern Utah sales to give you a good idea of what your home is worth in the current market.

Just enter your home address to see what it’s probably worth right now: http://www.dixiehomevalue.com/ 

If you'd like to get an even better estimate of your home’s true value, give us a call at 435-215-4533. 

As you’re already aware, “we know this town!” And that means the Southern Utah Real Estate market, not just the best place to find a food truck! ☺ We talk to home Buyers every day which keeps us “dialed in” to current market trends.   

Once we discuss the unique characteristics of your home, my team of specialists and I can give you an accurate estimate of how much you could get for your home right now, and how quickly you could sell.

And if you have any other questions about how you can take advantage of the current market, simply reply to this email, or give us a call at 435-215-4533.

Have a great day,

Jeremy Larkin – and of course, The Larkin Group!
435-215-4533
sales@gostgeorge.com 

 

PS - Here's a link to a free copy of our 2017 Home buying and selling guide just because we like you! 


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