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Do St. George Homes Really Sell During Holidays?

by Jeremy Larkin

St. George homes sell during the Holidays? The reality is that that they DO. As a matter of fact, homes sell during every stinkin’ (or sweltering) time of the year in Utah’s Dixie!

You wouldn’t be surprised how often we hear from would-be St. George Home Sellers who tell us they want to “wait until after the holidays.” Sure, I get that. Family in town, lots of parties, showing the home sounds like a hassle, right? Right.

BUT…..and a big but at that, since you never know when the single Buyer for your home will be coming through town with a wad of cash in their pocket, you actually do yourself a disservice by having the home off the market during the Holiday season.

Christmas Home Staging

 

Clark: Russ, we checked every bulb, didn't we?

Rusty Griswold: Sure, Dad.

Clark: Hmm... Maybe we ought to just go up there and check...

Rusty Griswold: Oh, woo. Look at the time. I gotta get to bed. I still gotta brush my teeth, feed the hog, still got some homework to do, still got those bills to pay, wash the car...

 

"But what about the hassle of showing the home with guests in town, parties going on, etc?" I'll address that below. While there are many good reasons to do so, here are the top 4 reasons to go ahead and list your St. George home right now rather than waiting until January 1.

1. Your home actually shows BETTER during the Holidays. cented candles, wreaths, Christmas trees, mistletoe – there’s a whole lot of atmosphere goin’ on! This is an emotional purchase and your home’s Holiday “getup” might be just the ticket. Here are 7 tips on how to do it right: Holiday Home Staging Tips

2.Less Competition – MUCH LESS! Did you know that in December of 2012 just 270 homes hit the market in Washington County? Guess how many hit the market in January? 579….over TWICE as many! Would you rather compete with 270 new listings, or 579? I think I know the answer.

3.Only the SERIOUS Buyers are looking: Why would anyone waste their precious Holiday time looking at homes if they weren’t committed, and most likely, in NEED of making a move very soon? They wouldn’t. This is in your best interest as a Seller.

4.Have your fruitcake and eat it too! About those showings? You can take advantage of being on the market during this season but restrict showings during key time frames, such as specific times of day, or a period of days like December 23-26, etc.

These great reasons will of course still not be enough for some St. George home Sellers to brave the Holidays on the market. In that case, be sure to contact us NOW so we can begin our pin-point pricing analysis and marketing plan for your home come 1/1/14!

If you’d like to get a “quick and dirty” look at your estimated Holiday 2013 home value, just enter your address below. Cheers, and Happy Holidays!

 

What Drives First-Time Home Purchases?

by Jeremy Larkin

Well funny you should ask, because we've got an answer! According to a report by KW (Keller Williams Realty) research, St. George first-time home purchases, as well as those nation-wide, are most driven by the following 3 factors: 

1. The current market

2. Financial readiness

3. Location & Price 

Get the full "scoop" in real people's terms in this super short 1:29 video:

If you're a first-time Buyer (or any type of Buyer for that matter..) looking to search for your own home, enjoy free 24-hour access to every single available property in Washington County, including "coming soon" listings before the sign even goes up! Here's that link: St. George Home Search

 

You can avoid reality, but you can't avoid the consequences of avoiding reality.

-Ayn Rand

Hey let's just have a frank little chat here: The "down" real estate market has been going on for 3 or 4 years now, yet alot of St. George Sellers are talking like this wave just hit us. Grief!

As a St. George area homeowner (a.k.a. future St. George Seller), I will be the first to say "I GET IT!" I get your pain, your frustration and dissappointment with what "could have been" and what certainly "was" in terms of market values for a short period of time. VERY short.

As a Seller, if you want to win the prize in this current market may need to get really courageous and set the "new market price" in your neighborhood. Yes, that means the LOWEST price anyone has seen in that area since 2003 or 2004.

In today's video I talk about the benefits of doing so and the potentially COSTLY consequences of not doing so. St. George Sellers are learning, but the learning curve has been slow and alot of owners have paid a steep price for that curve.

Man up!

 

St. George/Washington County Real Estate Update

by Jeremy Larkin

The tides are a turnin' in many parts of the St. George area real estate market this month! Friends and clients on my mailing list have been hearing about this for the past few months and the positive news keeps coming.

In an article from today's "Spectrum" newspaper titled "Local Economy Stabilizing", local & regional economist Lecia Langston said Washington County's economy is beginning to stabilize. Well it's about time!

For so long our area was "insulated" from the major ebbs and flows of the economy, feeling only a percentage of the cyclical changes that may have been felt in other major metropolitan areas. Why? Well if you live here you know the answer, and if you are moving here you also understand. Great location, weather, scenery, national parks, low crime, the works!

Outside of all the economists' hard-to-understand charts and graphs, what we are seeing "on the ground" is this: Properties hitting the market and selling in a few days or less for list or even above list price, with the final price and terms being determined through a "bidding war." (see this WSJ article on just that: BIDDING WARS)

Here are some hard figures to consider:

February 
Total Pending 264
Total Active Listings 2650 %
Total Sold (30 days) 106 Sold
    % of Total
Active REO 178 7%
Active Short Sale 440 17%
Active Retail 2020 76%
Sold REO 39 37% 22%
Sold Short Sale 9 8% 2%
Sold Retail 58 55% 3%

May 5 #'s
Total Active Listings 2337
Total Pending 430 %
Total Sold (30 days) 202 Sold
    % of Total
Active REO 133 6%
Active Short Sale 472 20%
Active Retail 1733 74%
Sold REO 67 33% 50%
Sold Short Sale 37 18% 8%
Sold Retail 98 49% 6%

1. "Pending" sales up nearly 40% since February. All of the major financial and housing experts use pending sales as a major indicator of housing market health.

2. "Active" listings down 12% in that same time frame. Real estate, just like handguns and hammers, is about supply and demand. Lower supply is what we want.

There is still a TON of foreclosure inventory coming, but I think this is a good thing. Why? Because every well-priced home that hits the market right now, especially under $300k, is selling in just a few days. This tells us the public is finally ready to pull the proverbial trigger and get into the housing market.

Housing has always driven the rest of the financial markets. When people are buying, sellers are getting paid and spending that $$ on other homes, goods and services. In that process, real estate agents, title and mortgage people also get paid. They in turn spend money, and the eternal sales cycle continues.

Please feel free to comment or ask questions on this page about the figures above, as well as your personal opinions about the market. Onward!

 

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!