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America's Housing Styles

by Jeremy Larkin

 

 

 

 

 

 

We finally sold the Little Valley St. George "Mini-Mansion!"

by Jeremy Larkin

10,000 SF? 2.5 acres? In Little Valley? For under $500k? YES. After years of area residents wondering if the home was some type of “compound”, a Little Valley area home is now occupied by a new Owner. And it only took us 68 showings (yes, we actually track that...find out how here: Showing Feedback System)

Little Valley St. George Luxury Home

 

 

 

 

 

 

 

                                     

                                         "She's a big un'!"

We received all sorts of bizarre questions while marketing the property. The most typically asked was, ‘is that some type of bizarre multi-family compound?', and....(drum roll please), 'Is that a Polygamist house?' No, we’d reply, it’s just a home!” 

I'll admit it, the "hugeness" (is that a word?) of the home, and the way it sits up off the road made it quite a sight. Boasting nearly 10,000 SF living space on 2.5 acres with a massive 5-car garage and a huge Fort-Knox style wood beam gate to the backyard, the home was featured in an MSN Real Estate Article titled “Bargain Mansions” last fall. You can view that article here: 10 Bargain Mansions 

And a bargain it was. This Little Valley home ended up selling right around $450k. You just don't run across that much space in this area for that price. The sheer size made it non-functional for most Buyers, resulting in a sweet deal for the new owners. 

Curiosity killing you? The home can be viewed right here: http://www.gostgeorge.com/Property/2206-E-2800-S-St-George-Utah

 

 

 

Real Estate: Warren Buffett Says You Should Buy Some. NOW.

by Jeremy Larkin

Warren Buffet says we should buy Real Estate. Now. 

If you haven't already watched the video, I'll tell you something that you probably already know, that they shared in this video: A really great way to learn how to build wealth, or become a professional rugby player, or maybe a world-class tight rope walker....is to listen to those who have already done it. Well. 

I can't comment on the national markets, but I can say without any hesitation that St. George Real Estate is turning the corner. Let's take luxury home enclave Stone Cliff for example: 3 years ago there were 50 or more properties for sale, you couldn't give em' away. Fast forward to 2012. I was told by an inside source that in the past 3 weeks, including the 2 weeks of the 2012 St. George Parade of Homes, that the Stone Cliff Developers ALONE (not including private Sellers), sold 10 lots, 3 custom home build jobs, the model home, and the actual Parade home was sold prior to the parade. That's a MAJOR shift!

St. George housing has never been more affordable...EVER. Nor has national housing. In a CNBC interview this week Buffett said, "​If I had a way to buy a couple of hundred thousand (THOUSAND!) single family homes right now, I would load up on em'."

​He went on to say, that buying a home is a way to actually "short" the market, also explaining that there are more households being created that HOUSES, and that the balance will come back into alignment in the future. Not only that, leaving your money doing NOTHING does NOTHING. It just, well "sits." 

Well there you have it. ​You didn't hear it from me, you heard it from Warren Buffett. And of course we'll make it easy for you to find that home in St. George. Link: FANTASTICALLY fantastic St. George Home Home Search.

St. George Luxury Home Market on the Mend

by Jeremy Larkin

St. George Luxury Home values have been a hot topic of many a discussion since the wild RISE, then subsequent FALL of St. George real estate values over the time period of roughly 2003 to mid-2011.

A real factor in the real estate value roller coaster ride of the St. George luxury home market has been the major pain and suffering felt in the real estate markets of other foreclosure-stricken states that were “feeders” of Buyers to the St. George luxury home market – California, Nevada, even as far away as Florida.

Those states saw similarly INSANE rises in real estate values, came out to Utah’s Dixie and said, “are you KIDDING me? These St. George luxury homes are a FRACTION of what I would have paid back home….I’m in!” And the bought…and bought, and bought and bought. When those Buyers started seeing the crash in their own markets, they just stopped coming!

St. George luxury home Buyers are no different than those anywhere else. Saavy, experienced, and slow to make a big $$ play on a home when they see the market dropping like crazy. Fortunately St. George real estate values have stabilized in the past 6-12 months and with rapidly shrinking housing inventories, we may soon see legitimate appreciation again….but be patient.

In this video shot in the St. George luxury enclave of "The Woods at Valley View", Jeremy Larkin discusses an improving St. George Luxury Home Market and the trends and home buying habits that got us to this point. Stay tuned for more on the continuing saga of the St. George luxury home market. 

Displaying blog entries 1-4 of 4

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Photo of Jeremy Larkin - The Larkin Group Real Estate
Jeremy Larkin - The Larkin Group
Keller Williams Realty
50 E 100 S, Suite 300
St. George UT 84770
435.767.9886
Fax: 435-359-5085

St. George Real Estate - Your premier destination for St. George,Utah Real Estate Listings, Home Values, MLS Search, REO/Foreclosure Info &  St. George Real Estate Statistics.  Serving St. George, Santa Clara, Ivins, Washington, Hurricane, LaVerkin, Toquerville & more! Specializing in REO/foreclosure properties, frustrated Sellers, First-Time home buyers, and Investors. Looking for the most LOCAL St. George, Utah real estate information available? Your search is over!