What happened in the Southern Utah Real Estate Market in November 2009

Thanks once again to all who have made this a great month. First of all I would like to personally thank all you had a hand in my livelihood this month by closing escrow on some real estate. The following were extremely helpful in the month of November:

1. Dale Gunther (Sold Listing)
2. Jeff Hemming (Sold Listing)
3. Chad and Jill Eckley (Purchase)

Dale is actually a VP of a bank up North and he was referred to me by his son in law Brett Christiansen, Jeff Hemming was referred by his Uncle from Logandale, NV, and Chad and Jill were referred to me by Bill and Amber Overson. Thanks to all of you very much.

One of the ways that I am trying to keep ahead of the curve is by trying to be a little more social on FaceBook. Believe me it is tough, because like all of you I am just a bit busy. I do however see value in it, and I am currently video recording all of my listings with a flip cam and putting them on Facebook for all to see. So if you want to become a friend or check the videos out, it is under Joe Langston on FaceBook. I realize my voice sounds funny, I guess none of us really like our voice on camera, but it does get you inside, and that is what really counts.

This is what the market did last month, looks like we dropped off pretty good from October. I know it was a difference for me…

Total Market Activity on Homes in November
Active Listings: 1,718 (Oct 1,485)
New Listings: 324 (Oct 315)
Sold Listings: 184 (Oct 219)
Months of Inventory: 9.34 (6.78)

Homes priced up to $150,000
Active Listings: 404 (Oct 337)
New Listings: 91 (Oct 80)
Sold Listings: 41 (Oct 69)
Months of Inventory: 9.85 (Oct 4.88)

Homes priced from $150,001 to $200,000
Active Listings: 362 (Oct 315)
New Listings: 73 (Oct 61)
Sold Listings: 51 (Oct 53)
Months of Inventory: 7.10 (Oct 5.94)

Homes priced from $200,001 to $250,000
Active Listings: 242 (Oct 211)
New Listings: 51 (Oct 48)
Sold Listings: 33 (Oct 37)
Months of Inventory: 7.33 (Oct 5.70)

Homes priced from $250,001 to $300,000
Active Listings: 184 (Oct 154 )
New Listings: 36 (Oct 38)
Sold Listings: 24 (Oct 21)
Months of Inventory: 7.67 (Oct 7.33)

Homes priced from $300,001 to $350,000
Active Listings: 111 (Oct 92)
New Listings: 18 (Oct 24)
Sold Listings: 12 (Oct 13)
Months of Inventory: 9.25 (Oct 7.08)

Homes priced from $350,001 to $400,000
Active Listings: 95 (Oct 81)
New Listings: 15 (Oct 17)
Sold Listings: 7 (Oct 7)
Months of Inventory: 13.57 (Oct 11.57)

Homes priced from $400,001 to $450,000
Active Listings: 50 (Oct 46 )
New Listings: 5 (Oct 13)
Sold Listings: 3 (Oct 5)
Months of Inventory: 16.67 (Oct 9.20)

Homes priced from $450,001 to $500,000
Active Listings: 45 (Oct 43)
New Listings: 6 (Oct 8)
Sold Listings: 6 (Oct 3)
Months of Inventory: 7.50 (Oct 14.33)

Homes priced from $500,001 to $550,000
Active Listings: 33 (Oct 28)
New Listings: 6 (Oct 5)
Sold Listings: 3 (Oct 0)
Months of Inventory: 11.00 (No Sales in Oct)

Homes priced from $550,001 to $600,000
Active Listings: 38 (Oct 36)
New Listings: 4 (Oct 5)
Sold Listings: 1 (Oct 1)
Months of Inventory: 38.00 (Oct 36.00)

Homes priced from $600,001 to $650,000
Active Listings: 26 (Oct 24)
New Listings: 5 (Oct 3)
Sold Listings: 1 (Oct 2)
Months of Inventory: 26.00 (Oct 12.00)

Homes priced from $650,001 to $700,000
Active Listings: 22 (Oct 20)
New Listings: 4 (Oct 1)
Sold Listings: 0 (Oct 2)
Months of Inventory: No Sales in November (Oct 10.00)

Homes priced from $700,001 to $750,000
Active Listings: 7 (Oct 6)
New Listings: 0 (Oct 1)
Sold Listings: 1 (Oct 0)
Months of Inventory: 7.00 (No Sales in Oct)

Homes priced from $750,001 to $1,000,000
Active Listings: 45 (ct 42)
New Listings: 6 (Oct 3)
Sold Listings: 1 (Oct 4)
Months of Inventory: 45.00 (Oct 10.50)

Homes priced from $1,000,001 and Up
Active Listings: 55 (Oct 51)
New Listings: 4 (Oct 8)
Sold Listings: 1 (Oct 2)
Months of Inventory: 55.00 (Oct 25.50)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,058 (Oct 991)
New Listings: 73 (Oct 151
Sold Listings: 34 (Oct 15 )
Months of Inventory: 31.12 (Oct 66.07)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 118 (Oct 105)
New Listings: 15 (Oct 33)
Sold Listings: 20 (Oct 6)
Months of Inventory: 5.90 (Oct 17.50)

Building lots $50,001 to $100,000
Active Listings: 523 (Oct 503)
New Listings: 28 (Oct 61)
Sold Listings: 8 (Oct 7)
Months of Inventory: 65.38 (Oct 71.86)

Building lots from $100,001 to $150,000
Active Listings: 232 (Oct 218)
New Listings: 8 (Oct 43)
Sold Listings: 2 (Oct 0)
Months of Inventory: 116.00 (No Sales in Oct)

Building lots from $150,001 to $200,000
Active Listings: 119 (Oct 116)
New Listings: 2 (Oct 7)
Sold Listings: 2 (Oct 1
Months of Inventory: 59.50 (Oct 116.00)

Building lots from $200,001 and up
Active Listings: 172 (Oct 148 )
New Listings: 24 (Oct 14)
Sold Listings: 4 (Oct 1)
Months of Inventory: 43 (Oct 148)

I usually write a little report about short sales and foreclosures, but not much has changed. Shorts still take a while, and if you are lucky enough to find one that has already been approved and the buyer has bailed on it, good for you, that is a great one to chase down. If not, plan on a bit of a wait.

Foreclosures, I feel the same about. I have listed 10 this year, and out of them 2 have been great deals, 6 have been good deals and the other two, well, let’s just say I still have them listed. The bank might fire me before I get them to go away.

Let me know what I can do to help you. Send me an email.

Status of the Southern Utah Real Estate Market for October 2009

The market has been interesting. As you can see below, October was a great closing month for me, and it would be very nice to keep that average all year long, so if you have any ideas about how to make that work, I am open to your comments. The market reminds me of an old car with junk in the carburetor, it seems to run ok for a bit then it sputters and coughs before it takes off again. I am not sure if I can attribute the inconsistency to my tactics, or if this is how the market is reacting overall. In any case, the closings below represent a total of 44.5 (sides) up to the month of October. I have already closed two more just this side of November, but I do not get to count them yet, because this supposed to be a report up to the end of October. I am getting ever closer to the goal of 50 that I set at the first of the year, and I thank you all very much for your help in achieving my goals. Needless to say, I cannot do it without you. I sincerely appreciate your support. I would especially like to thank the following for their help this month:

Mike Low (purchase)
Pat Moffat, Boyer Group-lot (sold Listing)
Bob and Chris Owens (purchase)
Pat Moffat, Boyer Group-house (sold listing)
Scott and Char Raine (purchase)
Monty Magleby, Blackrock Development (sold listing)
Ryan and Anne Johnson (purchase)
Jared Van Staveren FM (sold listing)
Tyson Egbert FM (sold listing)

Mike Low is a referral from Meagan and David Lee, past clients and friends; Pat is the project manager for the Overlook at Green Valley, which I have listed; Bob and Chris Owens are referrals from Joe and Sue Wirth who are past clients; Scott and Char Raine, I sold a house to, about five or six years ago, and they have remained faithful; Monty Magleby included me on a couple listings in Blackrock; Ryan and Anne Johnson are referrals from long time friends Steve and Amy Palmer; Jared and Tyson are asset managers for a bank that I work for. Thanks to everyone, I get so much support from past clients and friends, and I really appreciate it. In fact, I cannot do it without you!

Many of you have had questions about how short sales work, or in some cases don’t work. I am in hopes that the following video will do two things; first, get me way out of my comfort zone, because that is how we grow, and secondly give you some insight as to how this process works. Take a look. If you are already a short sale wizard, don’t bother, it’s fairly basic.



Wow, look at all of the new listings that have come on to the market. You will notice we out-paced September by a huge margin in terms of active listings, and out sold September by two transactions, so I am sure we can all sigh a breath of relief and expect a spike in the market comparable to that of summer 2005. Just kidding of course.

Total Market Activity on Homes in October
Active Listings: 1,686 (Sept 1,412)
New Listings: 329 (Sept 398)
Sold Listings: 204 (Sept 202)
Months of Inventory: 7.88 (Sept 6.99)

Homes priced up to $150,000
Active Listings: 362 (Sept 305)
New Listings: 85 (Sept 90)
Sold Listings: 69 (Sept 55)
Months of Inventory: 5.25 (Sept 5.55)

Homes priced from $150,001 to $200,000
Active Listings: 359 (Sept 275)
New Listings: 63 (Sept 120)
Sold Listings: 51 (Sept 56)
Months of Inventory: 7.04 (Sept 4.91)

Homes priced from $200,001 to $250,000
Active Listings: 255 (Sept 234)
New Listings: 43 (Sept 39)
Sold Listings: 35 (Sept 40)
Months of Inventory: 7.29 (Sept 5.86)

Homes priced from $250,001 to $300,000
Active Listings: 172 (Sept 132 )
New Listings: 45 (Sept 51)
Sold Listings: 21 (Sept 15)
Months of Inventory: 8.19 (Sept 8.80)

Homes priced from $300,001 to $350,000
Active Listings: 108 (Sept 94)
New Listings: 24 (Sept 17)
Sold Listings: 12 (Sept 17)
Months of Inventory: 9.00 (Sept 5.53)

Homes priced from $350,001 to $400,000
Active Listings: 94 (Sept 83)
New Listings: 16 (Sept 20)
Sold Listings: 7 (Sept 8)
Months of Inventory: 13.43 (Sept 10.38)

Homes priced from $400,001 to $450,000
Active Listings: 48 (Sept 34 )
New Listings: 14 (Sept 13)
Sold Listings: 5 (Sept 3)
Months of Inventory: 9.60 (Sept 11.33)

Homes priced from $450,001 to $500,000
Active Listings: 50 (Sept 44)
New Listings: 9 (Sept 8)
Sold Listings: 3 (Sept 1)
Months of Inventory: 16.67 (Sept 44.00)

Homes priced from $500,001 to $550,000
Active Listings: 29 (Sept 25)
New Listings: 6 (Sept 5)
Sold Listings: 0 (Sept 2)
Months of Inventory: No Sales in Oct (Sept 12.50)

Homes priced from $550,001 to $600,000
Active Listings: 48 (Sept 42)
New Listings: 7 (Sept 7)
Sold Listings: 1 (Sept 0)
Months of Inventory: 48.00 (No Sales in Sept)

Homes priced from $600,001 to $650,000
Active Listings: 23 (Sept 22)
New Listings: 2 (Sept 6)
Sold Listings: 2 (Sept 2)
Months of Inventory: 11.50 (Sept 11.00 )

Homes priced from $650,001 to $700,000
Active Listings: 29 (Sept 26)
New Listings: 2 (Sept 4)
Sold Listings: 2 (Sept 1)
Months of Inventory: 14.00 (Sept 26.00)

Homes priced from $700,001 to $750,000
Active Listings: 6 (Sept 6)
New Listings: 0 (Sept 0)
Sold Listings: 0 (Sept 0)
Months of Inventory: No Sales in Oct (No Sales in Sept)

Homes priced from $750,001 to $1,000,000
Active Listings: 44 (Sept 39)
New Listings: 5 (Sept 9)
Sold Listings: 4 (Sept 1)
Months of Inventory: 11.00 (39.00)

Homes priced from $1,000,001 and Up
Active Listings: 59 (Sept 51)
New Listings: 8 (Sept 9)
Sold Listings: 2 (Sept 1)
Months of Inventory: 29.50 (Sept 51.00)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,094 (Sept 982)
New Listings: 156 (Sept 53)
Sold Listings: 13 (Sept 18 )
Months of Inventory: 84.15 (Sept 54.56)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 109 (Sept 88)
New Listings: 32 (Sept 17)
Sold Listings: 5 (Sept 7)
Months of Inventory: 21.80 (Sept 12.57)

Building lots $50,001 to $100,000
Active Listings: 414 (Sept 372)
New Listings: 63 (Sept 18)
Sold Listings: 6 (Sept 4)
Months of Inventory: 69.00 (Sept 93.00)

Building lots from $100,001 to $150,000
Active Listings: 274 (Sept 238)
New Listings: 7 (Sept 2)
Sold Listings: 0 (Sept 5)
Months of Inventory: No Sales in Oct (Sept 47.60)

Building lots from $150,001 to $200,000
Active Listings: 133 (Sept 131)
New Listings: 7 (Sept 2)
Sold Listings: 1 (Sept 2)
Months of Inventory: 133.00 (Sept 65.50)

Building lots from $200,001 and up
Active Listings: 164 (Sept 153 )
New Listings: 12 (Sept 9)
Sold Listings: 1 (No Sales in Sept)
Months of Inventory: 164.00 (No Sales in Sept)

Short Sales, looks like I have covered them above, so if you need more info, let me know.

Foreclosures: The best way to keep abreast of the foreclosure market is by signing up for the free foreclosure listing report. Log onto www.southernutahforeclosure.com and sign up. Pretty painless. Don’t worry, this is my sight, so you won’t be spammed to death.

Thanks for all the support. Let me know if I can help, and Who do you know that needs to buy or sale real estate in your area?

Southern Utah Real Estate Market for September 2009

September was an interesting month. I did not close too many deals, but it was a great set up month for October. I am kind of excited about what I will be able to report for October, but that’s next month, so we will talk about that then. I would like to thank the following for their support this month:

Pat Moffat and Green Valley LC (Listing Sold)
Bart and Diane Imlay (Purchase)
Jared VanStaveren GRC (Listing Sold)

Pat, of course, is the project manager of the Overlook at Green Valley that I have listed, Bart and Diane are some wonderful long-time friends and neighbors, not to mention repeat performers, and Jared is the asset manager Fannie Mae that I work with to liquidate some of their foreclosed property. Thanks to all of you!

A lot of people are looking for an alternative to short selling or foreclosing their homes. One company that I think is doing a good job of providing a service to help people stay in their homes via a loan modification is Rocky Mountain Relief. They are a local company, who I have met with on several occasions and I definitely think they have a lot to offer. Their fees are very low, and they do have some accountability, so I have been impressed with what I have heard and seen. Their service is that of negotiating with the bank for a different loan amount and a different interest rate, rather than have you short sale your home or lose it to the bank. If you need more information, let me know, and I can hook you up with these guys.

I am working hard to create a business page on Facebook, so look for that over the course of the next month. That might be one more way for us to connect. In case you are tired of my rhetoric and just came for the data, here you go!

Total Market Activity on Homes in September
Active Listings: 1,605 (Aug 1,400) Listings are up!
New Listings: 394 (Aug 307)
Sold Listings: 195 (Aug 191)
Months of Inventory: 8.23 (Aug 7.33) A little more inventory, wrong direction!

Homes priced up to $150,000
Active Listings: 325 (Aug 296)
New Listings: 89 (Aug 71)
Sold Listings: 52 (Aug 60) Yikes!
Months of Inventory: 6.25 (Aug 4.93)

Homes priced from $150,001 to $200,000
Active Listings: 306 (Aug 268)
New Listings: 118 (Aug 69)
Sold Listings: 55 (Aug 58) Not too far off
Months of Inventory: 5.56 (Aug 4.62)

Homes priced from $200,001 to $250,000
Active Listings: 282 (Aug 241)
New Listings: 50 (Aug 57)
Sold Listings: 38 (Aug 25) Ok, this is way better than last month.
Months of Inventory: 7.42 (Aug 9.64)

Homes priced from $250,001 to $300,000
Active Listings: 161 (Aug 142 )
New Listings: 44 (Aug 28)
Sold Listings: 15 (Aug 22) This isn’t.
Months of Inventory: 10.73 (Aug 6.45)

Homes priced from $300,001 to $350,000
Active Listings: 107 (Aug 96)
New Listings: 18 (Aug 21)
Sold Listings: 17 (Aug 8) Good month for this range.
Months of Inventory: 6.29 (Aug 12.00)

Homes priced from $350,001 to $400,000
Active Listings: 91 (Aug 75)
New Listings: 16 (Aug 20)
Sold Listings: 8 (Aug 8)
Months of Inventory: 11.38 (Aug 9.38)

Homes priced from $400,001 to $450,000
Active Listings: 47 (Aug 37 )
New Listings: 13 (Aug 9)
Sold Listings: 3 (Aug 2) We will take what we can get.
Months of Inventory: 15.67 (Aug 18.50)

Homes priced from $450,001 to $500,000
Active Listings: 52 (Aug 42)
New Listings: 12 (Aug 5)
Sold Listings: 1 (Aug 2) That’s it, really?
Months of Inventory: 52.00 (Aug 21.00)

Homes priced from $500,001 to $550,000
Active Listings: 33 (Aug 27)
New Listings: 7 (Aug 7)
Sold Listings: 2 (Aug 0) Lots better.
Months of Inventory: 16.50 (No Sales in Aug)

Homes priced from $550,001 to $600,000
Active Listings: 42 (Aug 36)
New Listings: 5 (Aug 3)
Sold Listings: 0 (Aug 2) Yikes!
Months of Inventory: No Sales in Sept (Aug 18.00)

Homes priced from $600,001 to $650,000
Active Listings: 26 (Aug 21)
New Listings: 6 (Aug 5)
Sold Listings: 2 (Aug 1) A 100% increase!
Months of Inventory: 13.00 (Aug 20. )

Homes priced from $650,001 to $700,000
Active Listings: 25 (Aug 25)
New Listings: 2 (Aug 1)
Sold Listings: 1 (Aug 1)
Months of Inventory: 25.00 (Aug 25.00)

Homes priced from $700,001 to $750,000
Active Listings: 10 (Aug 9)
New Listings: 0 (Aug 2)
Sold Listings: 0 (Aug 0)
Months of Inventory: No Sales in Sept (No Sales in Aug)

Homes priced from $750,001 to $1,000,000
Active Listings: 39 (Aug 32)
New Listings: 9 (Aug 5)
Sold Listings: 1 (Aug 2)
Months of Inventory: 39.00 (16.00)

Homes priced from $1,000,001 and Up
Active Listings: 59 (Aug 54)
New Listings: 6 (Aug 5)
Sold Listings: 0 (Aug 0)
Months of Inventory: No Sales in Sept (N0 Sales in Aug)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,028 (Aug 959)
New Listings: 50 (Aug 98)
Sold Listings: 17 (Aug 21 )
Months of Inventory: 60.47 (Aug 45.67)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 92 (Aug 77)
New Listings: 15 (Aug 30)
Sold Listings: 7 (Aug 6)
Months of Inventory: 13.14 (Aug 12.83)

Building lots $50,001 to $100,000
Active Listings: 383 (Aug 354)
New Listings: 17 (Aug 32)
Sold Listings: 3 (Aug 7)
Months of Inventory: 127.67 (Aug 50.57)

Building lots from $100,001 to $150,000
Active Listings: 253 (Aug 245)
New Listings: 7 (Aug 16)
Sold Listings: 5 (Aug 3)
Months of Inventory: 50.60 (Aug 81.67)

Building lots from $150,001 to $200,000
Active Listings: 133 (Aug 124)
New Listings: 3 (Aug 10)
Sold Listings: 2 (Aug 2)
Months of Inventory: 66.50 (Aug 62.00)

Building lots from $200,001 and up
Active Listings: 167 (Aug 159)
New Listings: 8 (Aug 10)
Sold Listings: 0 (Aug 3)
Months of Inventory: No Sales in Sept (Aug 53.00)

Short Sales:
They do not seem to be getting any easier. I thought they would, and they project that fourth quarter should be easier and better, but man, they seem to be taking plenty of time right now. It still is a viable option, just be prepared to strap your boots on, and you are not going anywhere for a while. I am starting to see a few companies that are full time short sale negotiators. If you find the right company, it is a wise idea to work with them in tandem with your real estate agent.

Foreclosures:
I Feel about the same. 15% of them are great deals. 60-70% are fine deals, which means that you will probably come out fine once you get them fixed up, and the rest do not make sense. I am currently working with a company that represents Fannie Mae, and they are pretty reasonable about getting their inventory gone. They plan on paying closings costs, and are helpful at negotiation time. They want to sell them fast.

As always, let me know what I can do to help! Send me an email!

Status of the Southern Utah Real Estate Market for August

Welcome to the latest edition of the status of the market. I have to apologize, I was out of town at the first of the month taking care of some personal business and the month sort of ran away from me. As always, I would like to thank the following for making August a great month.

1. Jared VanStaveren (Sold Listing)
2. Dale Hanson (Purchase)
3. Evelyn Anderson (Sold Listing)
4. Monty Magleby (Sold Listing)
5. Jepthah and Christine Alt (Sold Listing)

Jared is an asset manger from a company that deals with Fannie Mae, I have had the pleasure of working with him on three different properties, Dale Hanson is the Father of Marie and Chip Ehlers, who are sphere of influence members she referred Dad to me. Evelyn Anderson was a referral out in Sun River from my new Sister-in-law, Margie Hare Sanderson, Monty is one of the principals at Black Rock, that had me help sell a couple and Jepthah and Chris Alt are past clients from about six years ago, that finally needed to sell their gorgeous Green Springs house. Thanks to all of you for your contribution to my business and family.

If anyone is looking for an incredible, golf course condo, Black Rock is the ticket right now. They are very aggressive in their pricing and still have several units that over-look the Sun Brook Golf Course on three different levels. If you want more information about that, call or email me, you will be very glad you did. The “economic stimulus” discounts are amazing, and I am not sure of a project of its type that holds a candle to the quality. Just check out my video tour on this blog posted on July 2. That unit is now sold, but it might give the flavor of what there is to offer. Prices are in the late $100’s to the late $200’s and perhaps on occasion early $300’s, depending on what you do with the finishes.

Total Market Activity on Homes in August
Active Listings: 1,545 (July 1,346)
New Listings: 308 (July 379)
Sold Listings: 187 (July 250)
Months of Inventory: 8.26 (July 5.38)

Homes priced up to $150,000
Active Listings: 323 (July 266)
New Listings: 67 (July 103)
Sold Listings: 59 (July 58)
Months of Inventory: 5.47 (July 4.59)

Homes priced from $150,001 to $200,000
Active Listings: 290 (July 263)
New Listings: 66 (July 72)
Sold Listings: 55 (July 66)
Months of Inventory: 5.09 (July 3.98)

Homes priced from $200,001 to $250,000
Active Listings: 263 (July 230)
New Listings: 57 (July 58)
Sold Listings: 24 (July 42)
Months of Inventory: 10.96 (July 5.48)

Homes priced from $250,001 to $300,000
Active Listings: 157 (July 139 )
New Listings: 31 (July 43)
Sold Listings: 22 (July 22)
Months of Inventory: 7.14 (July 6.32)

Homes priced from $300,001 to $350,000
Active Listings: 99 (July 89)
New Listings: 23 (July 23)
Sold Listings: 7 (July 18)
Months of Inventory: 14.14 (July 4.94)

Homes priced from $350,001 to $400,000
Active Listings: 85 (July 66)
New Listings: 19 (July 28)
Sold Listings: 8 (July 17)
Months of Inventory: 10.62 (July 3.88)

Homes priced from $400,001 to $450,000
Active Listings: 41 (July 34 )
New Listings: 10 (July 10)
Sold Listings: 2 (July 5)
Months of Inventory: 20.50 (July 6.80)

Homes priced from $450,001 to $500,000
Active Listings: 54 (July 45)
New Listings: 5 (July 9)
Sold Listings: 2 (July 7)
Months of Inventory: 27.00 (July 6.43)

Homes priced from $500,001 to $550,000
Active Listings: 28 (July 21)
New Listings: 7 (July 6)
Sold Listings: 0 (July 3)
Months of Inventory: No Sales in August (July 7.00)

Homes priced from $550,001 to $600,000
Active Listings: 42 (July 41)
New Listings: 4 (July 7)
Sold Listings: 2 (July 5)
Months of Inventory: 21.00 (July 8.20)

Homes priced from $600,001 to $650,000
Active Listings: 21 (July 19)
New Listings: 5 (July 3)
Sold Listings: 1 (July 1)
Months of Inventory: 21.00 (July 19.00)

Homes priced from $650,001 to $700,000
Active Listings: 29 (July 28)
New Listings: 1 (July 5)
Sold Listings: 1 (July 2)
Months of Inventory: 29.00 (July 14.00)

Homes priced from $700,001 to $750,000
Active Listings: 2 (July 1)
New Listings: 2 (July 1)
Sold Listings: 0 (July 1)
Months of Inventory: No Sales in August (July 8.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 48 (July 44)
New Listings: 8 (July 7)
Sold Listings: 2 (July 3)
Months of Inventory: 24.00 (14.67)

Homes priced from $1,000,001 and Up
Active Listings: 63 (July 60)
New Listings: 5 (July 4)
Sold Listings: 0 (July 1)
Months of Inventory: No Sales in August (July 60.00)

the following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,063 (July 1,099)
New Listings: 85 (July 100)
Sold Listings: 20 (July 15)
Months of Inventory: 53.15 (July 66.60)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 77 (July 60)
New Listings: 28 (July 6)
Sold Listings: 6 (July 6)
Months of Inventory: 12.83 (July 10.00)

Building lots $50,001 to $100,000
Active Listings: 401 (July 384)
New Listings: 22 (July 29)
Sold Listings: 7 (July 6)
Months of Inventory: 57.29 (July 64.00)

Building lots from $100,001 to $150,000
Active Listings: 268 (July 251)
New Listings: 15 (July 17)
Sold Listings: 2 (July 1)
Months of Inventory: 134.00 (July 251.00)

Building lots from $150,001 to $200,000
Active Listings: 133 (July 128)
New Listings: 10 (July 15)
Sold Listings: 2 (July 0)
Months of Inventory: 66.50 (No sales in July)

Building lots from $200,001 and up
Active Listings: 264 (July 256)
New Listings: 12 (July 35)
Sold Listings: 4 (July 2)
Months of Inventory: 66.00 (July 128.00)

Foreclosures:
My opinion is still the same…10-15% of them are great deals. 60% are pretty good, and if you are willing to put in a little elbow grease you are in great shape. The rest, just aren’t any good. By the time you bring them up to speed, you could have bought a house in good shape minus the labor.

Short Sales:
My opinion ebbs and flows on this issue. There are months when the banks seem to want to talk and others where they just don’t. This month I am pretty ambivalent, though I do have a couple I am working hard to get done right now.

Thanks to you all for everything. If there is ever anything I can do, I want to hear about it. Send me a quick email. Lastly Know Do You Know, that needs to buy or sale a home. I hope you have me in mind when you think of them.
Listings

The Who Do You Know? Home Tour, Makes a Stop!

Hello Everyone:

Here is the second of the Who Do You Know? Home Tour. This is a very nice upper scale family home right in the Mecca for families...Shadow Mountain. the nuts and bolts are as follows: 5 Beds 3 Baths, den, two kitchens, out door barbeque and water feature, ample storage, huge game room in lower level, 4360 Square feet, priced at $429,900. So check out the video, and ask yourself...Who do you know that needs to make this home theirs?

Send me an email if you thought of the right "Who".

Status of The Southern Utah Real Estate Market for July 2009

Sorry I am a bit late. I guess the endless supply of summer obligations and frankly some fun; have kept me from posting until now. I had a great July, thanks to all of you for your help and efforts in keeping the Doors of ExSell Realty open and operating. I would especially like to thank the following for their closings this month:

1. Boyer Green Valley LC (Listing Sold)
2. Daniel and Karissa Holloway (Purchase)
3. Bart and Diane Imlay (Purchase)
4. Scott and Cathy Alexander (Listing Sold)
5. Mark Hammond GRC (Listing Sold)
6. Greg and Lona Clarke (Purchase)

Pat Moffat the project manager of The Overlook at Green Valley has been awesome to work with for the past year or so, Daniel and Karissa are wonderful people that were referred to me by Blake Bench of Bank of America, thanks Blake, Bart and Diane Imlay are long time family friends and neighbors, Scott and Cathy have two siblings that are both past clients of mine, Arica Demarcus-Dadjou and Dave and Trish DeMarcus and Mark Hammond is a REO asset manager that happened to put me to work on a project, and Greg and Lona Clarke are some wonderful people that I serendipitously bumped into in the middle of the woods one day, and they happen to buy the cabin I listed with Mark. Thank you all.

Look for the “Who Do You Know?” home tour. I am planning to start videoing each week for the last three weeks of each month and posting them on this blog so check it out. I am interested in your feedback.

Here is what is going on in the market, there is a bit of movement out there and total sales are up compared to a dismal first quarter. According to the Washington County Board of Realtors Multiple Listing Service, Homes closing escrow in the Greater St. George and Hurricane Valley increased from 218 in the month of June to 247 in the month of July, so the trend looks positive.

According to our friends at Southern Utah Title, if you add the MLS information to the by owner, and by builder and you add in the other areas on the MLS that I did not report on, such is the North West and North East corridors, they report a 363 sales in July, up from 304 in June. Either way you look at it, things are up.

Here are the numbers broken out in each category.

Total Market Activity on Homes in July
Active Listings: 1,572 (June 1,352)
New Listings: 408 (June 308)
Sold Listings: 242 (June 213)
Months of Inventory: 6.50 (June 6.35)

Homes priced up to $150,000
Active Listings: 285 (June 246)
New Listings: 106 (June 65)
Sold Listings: 56 (June 39)
Months of Inventory: 5.09 (June 6.31)

Homes priced from $150,001 to $200,000
Active Listings: 304 (June 258)
New Listings: 82 (June 80)
Sold Listings: 64 (June 56)
Months of Inventory: 4.75 (June 4.61)

Homes priced from $200,001 to $250,000
Active Listings: 253 (June 206)
New Listings: 63 (June 55)
Sold Listings: 41 (June 41)
Months of Inventory: 6.17 (June 5.02)

Homes priced from $250,001 to $300,000
Active Listings: 176 (June 151 )
New Listings: 43 (June 26)
Sold Listings: 22 (June 28)
Months of Inventory: 8.00 (June 5.39)

Homes priced from $300,001 to $350,000
Active Listings: 114 (June 98)
New Listings: 26 (June 20)
Sold Listings: 16 (June 12)
Months of Inventory: 7.12 (June 8.17)

Homes priced from $350,001 to $400,000
Active Listings: 89 (June 91)
New Listings: 24 (June 15)
Sold Listings: 16 (June 14)
Months of Inventory: 5.56 (June 5.79)

Homes priced from $400,001 to $450,000
Active Listings: 47 (June 42 )
New Listings: 15 (June 5)
Sold Listings: 5 (June 5)
Months of Inventory: 9.40 (June 8.40)

Homes priced from $450,001 to $500,000
Active Listings: 46 (June 45)
New Listings: 8 (June 6)
Sold Listings: 7 (June 2)
Months of Inventory: 6.57 (June 22.50)

Homes priced from $500,001 to $550,000
Active Listings: 30 (June 28)
New Listings: 8 (June 5)
Sold Listings: 3 (June 2)
Months of Inventory: 10.00 (June 14.00)

Homes priced from $550,001 to $600,000
Active Listings: 46 (June 42)
New Listings: 8 (June 4)
Sold Listings: 5 (June 3)
Months of Inventory: 9.20 (June 14.00)

Homes priced from $600,001 to $650,000
Active Listings: 21 (June 15)
New Listings: 3 (June 7)
Sold Listings: 1 (June 1)
Months of Inventory: 21.00 (June 15.00)

Homes priced from $650,001 to $700,000
Active Listings: 32 (June 25)
New Listings: 5 (June 5)
Sold Listings: 2 (June 1)
Months of Inventory: 16.00 (June 25.00)

Homes priced from $700,001 to $750,000
Active Listings: 7 (June 6)
New Listings: 2 (June 1)
Sold Listings: 1 (June 1)
Months of Inventory: 7.00 (June 6.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 50 (June 45)
New Listings: 8 (June 4)
Sold Listings: 2 (June 4)
Months of Inventory: 25.00 (11.25)

Homes priced from $1,000,001 and Up
Active Listings: 72 (June 64)
New Listings: 7 (June 10)
Sold Listings: 1 (June 4)
Months of Inventory: 72.00 (June 16.00)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,114 (June 1,054)
New Listings: 103 (June 51)
Sold Listings: 13 (June 19 )
Months of Inventory: 85.69 (June 55.47)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 63 (June 64)
New Listings: 6 (June 12)
Sold Listings: 5 (June 10)
Months of Inventory: 12.60 (June 6.40)

Building lots $50,001 to $100,000
Active Listings: 428 (June 401)
New Listings: 27 (June 18)
Sold Listings: 5 (June 5)
Months of Inventory: 85.60 (June 80.20)

Building lots from $100,001 to $150,000
Active Listings: 308 (June 307)
New Listings: 33 (June 3)
Sold Listings: 1 (June 1)
Months of Inventory: 308.00 (June 307.00)

Building lots from $150,001 to $200,000
Active Listings: 129 (June 121)
New Listings: 9 (June 10)
Sold Listings: 0 (June 2)
Months of Inventory: No sales in July (June 60.50)

Building lots from $200,001 and up
Active Listings: 186 (June 161)
New Listings: 28 (June 8)
Sold Listings: 2 (June 1)
Months of Inventory: 93.00 (June 161.00)

Short Sales:
It is estimated that about 65% of the current inventory on the MLS are short sales. I am not sure if that is true or not, but I do know there are a lot of them. I got digging around in my “year to date” sales stats and I found that over 20%, or seven of my closed transactions involved a short sale. They are going to be around for quite some time, and perhaps it would be wise to get used to it.

Foreclosures:
There are quite a few of these on the market too. I have been fortunate to have listed five so far this year, three of which have sold and closed and two that are currently under contract. I have already closed a total of six foreclosures this year, including buyers I have represented and have three more currently under contract, so needless to say, there are plenty of bank owned opportunities out there too.

I hope this information helps, Who Do You Know, that needs to buy or sale real estate? Now is the time, the market is great for those that wish to buy. Let me know how I can help. If you would like to contact me right now send me an email.

Status of the Southern Utah Real Estate Market for June 2009

Welcome to another exciting addition of the Southern Utah Real Estate Market. If you did not get a chance to check out my last post and the first “Who Do You Know” home tour, please check it out. I would like to get your feedback. I would like to personally thank my friend Brandon Ellett for his camera skills and his sense of humor, because as awkward as I look on camera, you should have seen the outtakes. My goodness, it is amazing I allowed it to happen. After you view the one from my last post if you have not already, will you please tell me what you think? By the way, if you need any videography or photography Brandon and his wife Malea do an excellent job. Brandon is very proficient in web, blog and other design. Just ask if you need his help, he can probably do it, here is the link to his site. Malea’s site is to the side below, Tickled Pink Photography

Thanks to the following for helping me keep the kids fed during the month of June:

1. Darryl and Joanne Layne (Purchase new home)
2. Boyer Green Valley LC (Sale of lot)
3. David and Meagan Lee (Purchase first time home)
4. Neville Structures (Dan and Janna Neville) (Sale of home)

Now for our market…There has been some serious movement lately, and the good deals are going fast. For example, I had a client bid $50k over the asking price on an under priced home in Entrada for a home in the $700k range and we got trumped by three other cash offers. Translation, if it is a great deal, on a foreclosure, you may have to pay well over price to get in some rare cases. Just because something is bank owned, does not always mean they are looking to dump it, nor does it mean that they are willing to negotiate a whole lot. In fact, in most cases, banks are not willing to negotiate much at all during at least the first thirty days.

Now for your market update…

Total Market Activity on Homes in June
Active Listings: 1,616 (May 1,440)
New Listings: 330 (May 263)
Sold Listings: 209 (May 214)
Months of Inventory: 7.73 (May 6.73)

Homes priced up to $150,000
Active Listings: 274 (May 232)
New Listings: 75 (May 46)
Sold Listings: 37 (May 44)
Months of Inventory: 7.41 (May 5.27)

Homes priced from $150,001 to $200,000
Active Listings: 304 (May 257)
New Listings: 84 (May 62)
Sold Listings: 56 (May 53)
Months of Inventory: 5.43 (May 4.85)

Homes priced from $200,001 to $250,000
Active Listings: 248 (May 220)
New Listings: 56 (May 41)
Sold Listings: 41 (May 38)
Months of Inventory: 6.05 (May 5.79)

Homes priced from $250,001 to $300,000
Active Listings: 201 (May 186 )
New Listings: 30 (May 31)
Sold Listings: 26 (May 24)
Months of Inventory: 7.73 (May 7.75)

Homes priced from $300,001 to $350,000
Active Listings: 115 (May 106)
New Listings: 19 (May 21)
Sold Listings: 12 (May 19)
Months of Inventory: 9.58 (May 5.58)

Homes priced from $350,001 to $400,000
Active Listings: 95 (May 89)
New Listings: 14 (May 15)
Sold Listings: 14 (May 13)
Months of Inventory: 6.79 (May 6.85)

Homes priced from $400,001 to $450,000
Active Listings: 56 (May 52 )
New Listings: 6 (May 9)
Sold Listings: 5 (May 6)
Months of Inventory: 11.20 (May 8.67)

Homes priced from $450,001 to $500,000
Active Listings: 55 (May 53)
New Listings: 6 (May 3)
Sold Listings: 2 (May 4)
Months of Inventory: 27.50 (May 13.25)

Homes priced from $500,001 to $550,000
Active Listings: 33 (May 31)
New Listings: 4 (May 3)
Sold Listings: 2 (May 3)
Months of Inventory: 16.50 (May 10.33)

Homes priced from $550,001 to $600,000
Active Listings: 43 (May 43)
New Listings: 7 (May 3)
Sold Listings: 3 (May 2)
Months of Inventory: 14.33 (May 21.50)

Homes priced from $600,001 to $650,000
Active Listings: 22 (May 18)
New Listings: 8 (May 2)
Sold Listings: 1 (May 2)
Months of Inventory: 22.00 (May 9.00)

Homes priced from $650,001 to $700,000
Active Listings: 29 (May 25)
New Listings: 5 (May 6)
Sold Listings: 1 (May 1)
Months of Inventory: 29.50 May 25.00)

Homes priced from $700,001 to $750,000
Active Listings: 12 (May 11)
New Listings: 0 (May 3)
Sold Listings: 1 (May 0)
Months of Inventory: 12.00 (No Sales in May)

Homes priced from $750,001 to $1,000,000
Active Listings: 53 (May 51)
New Listings: 5 (May 9)
Sold Listings: 4 (May 2)
Months of Inventory: 13.25 (May 25.50)

Homes priced from $1,000,001 and Up
Active Listings: 75 (May 65)
New Listings: 11 (May 9)
Sold Listings: 4 (May 3)
Months of Inventory: 18.75 (May 21.67)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,182 (May 1,146)
New Listings: 46 (May 71)
Sold Listings: 19 (May 15)
Months of Inventory: 62.21 (May 76.40)

Here are the data ranges:

Building lots up to $50,000
Active Listings: 83 (May 76)
New Listings: 9 (May 14)
Sold Listings: 10 (May 2)
Months of Inventory: 8.30 (May 38.00)

Building lots $50,001 to $100,000
Active Listings: 432 (May 427)
New Listings: 17 (May 8)
Sold Listings: 5 (May 10)
Months of Inventory: 86.40 (May 42.70)

Building lots from $100,001 to $150,000
Active Listings: 333 (May 326)
New Listings: 3 (May 21)
Sold Listings: 1 (May 0)
Months of Inventory: 333.00 (May 96)

Building lots from $150,001 to $200,000
Active Listings: 132 (May 124)
New Listings: 9 (May 14)
Sold Listings: 2 (May 2)
Months of Inventory: 66.00 (May 62.00)

Building lots from $200,001 and up
Active Listings: 202 (May 193)
New Listings: 8 (May 14)
Sold Listings: 1 (May 1)
Months of Inventory: 202.00 (Apr 193.00)

Short Sales
Right now it seems they can go either way. Many companies are starting to offer work out packages, and in some cases the bail out money that we have assigned to our children and their children is getting into the hands of the consumer. Well not really, they just get their mortgage adjusted, in terms of amount and rate, and are allowed to stay. This obviously affects the purchasing power of the buyer, but in the end, leaving out the whole conversation of the bailout, affords some of the folks with negative equity a fresh start. Some work out fine, others don’t. Same game, different day.

Foreclosures
The 10% that are well priced go quickly, and sometimes for extra cash. Then there are the vast 70% that are good deals that come and go within reason, and lastly the 20% that just don’t make sense.

Thanks for all you do for me. I am only a mouse click or phone call away…

Who Do You Know?

Welcome to the first stop on the ExSell Realty, "Who Do You Know?" Home tour. The first one on our list is the this phenomenal Black Rock condo, located at 225 N. Country Lane Drive # 63. This beautiful 1444 square foot unit has 3 beds 2 baths and 1444 square feet. Words do not do it justice, you have to see it. One of the awesome features about this is the developer is willing to subsidize the HOA fee so the new owner pays $100 for the next three years after closing, after which it will return to the current rate of the development at that time.

Who Do You Know that should make this their new home?

Southern Utah Real Estate Market, What happened in May

I hope everyone is kicking off a nice summer vacation. I am just getting ready for my annual Lake Powell Hurricane experience. I don't mean the Hurricane close to St. George, pronounced Hurricun, I mean the real windy storm that make you feel like everything you hold precious is going to be scooped up, and thrown for miles, never to be returned again. Last year I almost killed my older brother, which on second thought, he probably deserves, based on all of the dryer and toy box down the stair rides of my youth. If it isn’t too much trouble, please keep us in your thoughts and prayers, and if we have the 50-60 MPH micro-bursts again, I am selling my share, and that is a promise. I can’t wait to report the drama of the saga.

As always, I want to thank those that make my livelihood possible. I cannot tell you how grateful I am for all of you and your loyalty to me and my business. Thank you so much for hanging in there with us through the thick and thin. Some of you have been great friends for years, and others of you, we are just starting down that path. Here is what closed in May:

1. Aurora Servicing (Sold Listing) thanks to the bank.
2. Stan and Sylvia Prescott (Purchase)
3. Greg and Liza Smith (Sold Listing)
4. Boyer Green Valley LC (Sold Listing)
5. Darryl and Joanne Layne (Purchase)

Thank you so much. Stan and Sylvia are referrals from Amorie Eames a past client, Greg and I have played early morning ball for a few years, Green Valley LC is kind enough to have me help with a subdivision and Darryl and Joanne Layne, we just sold their house in April, so thanks for being repeat performers.

We have seen good activity; maybe we are shaking a few cob webs. This is the first time in about two and a half years that I think the trends are leveling. I can honestly say, with little hesitation, that I think we are skipping along the bottom of the pond right now. I am not sure we how long we are going to be there, it could be a while, but I think a great deal now is a great deal, and maybe even a good deal is a good deal right now. If you got the money, I say buy! We have low rates, good inventory, and low prices. What more do you want?

One more mention, if anyone wants to become a better photographer, one of my wife’s good friends is teaching classes on how to do so. They are locations shoots and it’s called a Hitch Hikers Guide to Lifestyle Fotography. She teaches about lighting, subject matter etc. Check out her site its http://mytickledpinkphoto.com/blog/. You can sign up to take the class for a nominal fee. I hear it is awesome!

Now for the numbers.

Total Market Activity on Homes in May

Active Listings: 1,677 (Apr 1,495
)New Listings: 269 (Apr 326)
Sold Listings: 209 (Apr 219)
Months of Inventory: 8.02 (Apr 6.83)

Homes priced up to $150,000
Active Listings: 252(Apr 223)
New Listings: 45 (Apr 57)
Sold Listings: 44 (Apr 46)
Months of Inventory: 5.73 (Apr 4.85)

Homes priced from $150,001 to $200,000
Active Listings: 300 (Apr 258)
New Listings: 63 (Apr 74)
Sold Listings: 50 (Apr 51)
Months of Inventory: 6.00 (Apr 5.06)

Homes priced from $200,001 to $250,000
Active Listings: 262 (Apr 239)
New Listings: 44 (Apr 48)
Sold Listings: 38 (Apr 40)
Months of Inventory: 6.89 (Apr 5.97)

Homes priced from $250,001 to $300,000
Active Listings: 217 (Apr 187)
New Listings: 32 (Apr 48)
Sold Listings: 23 (Apr 22)
Months of Inventory: 9.43 (Apr 8.50)

Homes priced from $300,001 to $350,000
Active Listings: 128 (Apr 119)
New Listings: 19 (Apr 18)
Sold Listings: 19 (Apr 28)
Months of Inventory: 6.74 (Apr 4.25)

Homes priced from $350,001 to $400,000
Active Listings: 114 (Apr 103)
New Listings: 18 (Apr 29)
Sold Listings: 13 (Apr 12)
Months of Inventory: 8.77 (Apr 8.58)

Homes priced from $400,001 to $450,000
Active Listings: 59 (Apr 54 )
New Listings: 9 (Apr 8)
Sold Listings: 6 (Apr 2)
Months of Inventory: 9.83 (Apr 27.00)

Homes priced from $450,001 to $500,000
Active Listings: 60 (Apr 59)
New Listings: 5 (Apr 7)
Sold Listings: 4 (Apr 3)
Months of Inventory: 15.00 (Apr 19.67)

Homes priced from $500,001 to $550,000
Active Listings: 32 (Apr 29)
New Listings: 3 (Apr 4)
Sold Listings: 3 (Apr 2)
Months of Inventory: 10.67 (Apr 14.50)

Homes priced from $550,001 to $600,000
Active Listings: 51 (Apr 48)
New Listings: 3 (Apr 6)
Sold Listings: 2 (Apr 6)
Months of Inventory: 25.50 (Apr 8.00)

Homes priced from $600,001 to $650,000
Active Listings: 25 (Apr 24)
New Listings: 2 (Apr 7)
Sold Listings: 2 (Apr 3)
Months of Inventory: 12.50 (Apr 8.00)

Homes priced from $650,001 to $700,000
Active Listings: 28 (Apr 24)
New Listings: 5 (Apr 5)
Sold Listings: 1 (Apr 0)
Months of Inventory: 28.00 No Sales in Apr

Homes priced from $700,001 to $750,000
Active Listings: 14 (Apr 13)
New Listings: 3 (Apr 0)
Sold Listings: 0 (Apr 1)
Months of Inventory: No Sales in May (Apr 13.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 58 (Apr 48)
New Listings: 9 (Apr 5)
Sold Listings: 2 (Apr 3)
Months of Inventory: 29.00 (Apr 16.00)

Homes priced from $1,000,001 and Up
Active Listings: 76 (Apr 67)
New Listings: 9 (Apr 9)
Sold Listings: 2 (Apr 0)
Months of Inventory: 38.00 (No Sales in April)

The following information is for building lots in the same general area as the housing data listed above.

All Building Lots in the Greater St. George and Hurricane Valley
Active Listings: 1,257 (Apr 1,170)
New Listings: 68 (Apr 121)
Sold Listings: 13 (Apr 21 )
Months of Inventory: 96.69 (Apr 55.71)

Here are the data ranges:

Building lots up to $100,000
Active Listings: 558 (Apr 532)
New Listings: 22 (Apr 78)
Sold Listings: 10 (Apr 14)
Months of Inventory: 55.80 (Apr 38.00)

Building lots from $100,001 to $150,000
Active Listings: 347 (Apr 305)
New Listings: 20 (Apr 27)
Sold Listings: 0 (Apr 3)
Months of Inventory: No Sales in May (Apr 101.67)

Building lots from $150,001 to $200,000
Active Listings: 357 (Apr 333)
New Listings: 26 (Apr 16)
Sold Listings: 3 (Apr 4)
Months of Inventory: 119.00 (Apr 83.25)

Building lots from $200,001 and up
Active Listings: 232 (Apr 219)
New Listings: 13 (Apr 11)
Sold Listings: 1 (Apr 2)
Months of Inventory: 232.00 (Apr 109.50)

Short Sales:

Getting better, the banks are getting smarter, and realizing it may be a better alternative than foreclosure, however, do plan on some waiting time. Once again, if you can find an approved short sale, they may just be one of the better deals on the market.

Foreclosures:

I am actually working with a bank or two now, and they are a pain in the neck. That being said, they are going to sale, so I guess I cannot complain too much. Once again if you want the foreclosure list sent to you. www.southernutahforeclosure.com

Sign up, we will send them.

Lastly, thank you all. I can not do this without you! What can I do for you? Email me and let me know.

Southern Utah Real Estate Market, What happenend in April

A few of my Humpty Dumpty friends jumped off the wall. April was a good month for people who finally decided that the market is what it is and decided the time was right. Maybe everyone has settled down and decided that it is not about stimulus packages and big brother stepping in to make things all better, but we as the American people are actually going to have to get up and go to work! I can honestly say I think we have found the bottom. We may bump a long it for the next several months, but with the amount of activity out there right now, I cannot see our market dropping much more. In fact, well priced foreclosures are getting multiple offers. I want to thank those that made April a great month for us.

Mike Betts/DB Inc. (Purchase)
Ellis and Nina Rogers (Purchase)
Darryl and Joanne Layne (Sold Listing)
Brian Lowe and Ceciley Bachnik (Purchase)

Mike and I have been emailing each other back and forth for over a year and finally we found one that made sense for him. Ellis and Nina, this one is number two in as many months. Thanks! Darryl and Joanne Layne are friends I met a couple of years ago when they were driving around, and finally decided to sale their house. They should be here again next month when we close escrow on their new home about two blocks away from their last one. This is the only time I have ever put someone else’s client on the board. Brian and Ceciley are actually Netta’s clients, but I like to think I helped them close the deal. I want to thank them for being our highest dollar volume purchaser of my career!

The market is looking so much better and there is a lot of activity going on right now. We are starting to see a lot more FHA loans and the government is actually being pretty liberal with some of the grants available for first time home buyers and first time home buyers of new construction. In fact there is a “Home Run Grant” that would enable a first time home buyer to receive about $12,000 in tax credit combined with other incentives for buying a new construction home right now. There are also great tax incentives for purchasing homes that have already been lived in too. I am not going to suggest I know all of the details, but if you have questions, email me and I will get you to the right people.

All that being said, this is what happened over the past month.

Total Market Activity on Homes in April
Active Listings: 1,692 (Mar 1,517)
New Listings: 348 (Mar 326)
Sold Listings: 207 (Mar 164)
Months of Inventory: 8.17 (Mar 9.25)

Homes priced up to $150,000
Active Listings: 244 (Mar 213)
New Listings: 58 (Mar 69)
Sold Listings: 44 (Mar 35)
Months of Inventory: 5.50 (Mar 6.09)

Homes priced from $150,001 to $200,000
Active Listings: 311 (Mar 273)
New Listings: 77 (Mar 72)
Sold Listings: 48 (Mar 43)
Months of Inventory: 6.48 (Mar 6.35)

Homes priced from $200,001 to $250,000
Active Listings: 266 (Mar 241)
New Listings: 56 (Mar 40)
Sold Listings: 38 (Mar 23)
Months of Inventory: 7.00 (Mar 10.48)

Homes priced from $250,001 to $300,000
Active Listings: 220 (Mar 206)
New Listings: 47 (Mar 36)
Sold Listings: 27 (Mar 14)
Months of Inventory: 11.58 (Mar 9.81)

Homes priced from $300,001 to $350,000
Active Listings: 135 (Mae 136)
New Listings: 22 (Mar 18)
Sold Listings: 27 (Mar 14)
Months of Inventory: 5.00 (Mar 9.71)

Homes priced from $350,001 to $400,000
Active Listings: 105 (Mar 90)
New Listings: 27 (Mar 24)
Sold Listings: 11 (Mar 9)
Months of Inventory: 9.55 (Mar 10.00)

Homes priced from $400,001 to $450,000
Active Listings: 58 (Mar 49 )
New Listings: 10 (Mar 9)
Sold Listings: 2 (Mar 2)
Months of Inventory: 29.00 (Mar 24.00)

Homes priced from $450,001 to $500,000
Active Listings: 70 (Mar 54)
New Listings: 8 (Mar 17)
Sold Listings: 3 (Mar 5)
Months of Inventory: 23.33 (Mar 10.80)

Homes priced from $500,001 to $550,000
Active Listings: 33 (Mar 31)
New Listings: 4 (Mar 6)
Sold Listings: 2 (mar 2)
Months of Inventory: 16.50 (Mar 15.50)

Homes priced from $550,001 to $600,000
Active Listings: 55 (Mar 52)
New Listings: 8 (Mar 12)
Sold Listings: 6 (Mar 3)
Months of Inventory: 9.17 (Mar 16.67)

Homes priced from $600,001 to $650,000
Active Listings: 21 (Mar 19)
New Listings: 6 (Mar 2)
Sold Listings: 3 (Mar 2)
Months of Inventory: 7.00 (Mar 9.50)

Homes priced from $650,001 to $700,000
Active Listings: 30 (Mar 23)
New Listings: 7 (Mar 3)
Sold Listings: 0 (Mar 0)
Months of Inventory: No Sales in April No Sales in Mar

Homes priced from $700,001 to $750,000
Active Listings: 16 (Mar 14)
New Listings: 1 (Mar 2)
Sold Listings: 1 (Mar 0)
Months of Inventory: 16.00 (No Sales in March)

Homes priced from $750,001 to $1,000,000
Active Listings: 52 (Mar 47)
New Listings: 4 (Mar 10)
Sold Listings: 3 (Mar 1)
Months of Inventory: 17.33 (Mar 47.00)

Homes priced from $1,000,001 and Up
Active Listings: 76 (Mar 71)
New Listings: 10 (Mar 6)
Sold Listings: 0 (Mar 4)
Months of Inventory: No Sales in April (March 17.75)

The following information is for building lots in the same general area as the housing data listed above.

All Building Lots in the Greater St. George and Hurricane Valley
Active Listings: 1,230 (Mar 1,181)
New Listings: 82 (Mar 110)
Sold Listings: 21 (Mar 9)
Months of Inventory: 58.57 (Mar 131.22)

Here are the data ranges:

Building lots up to $100,000
Active Listings: 545 (Mar 516)
New Listings: 39 (Mar 57)
Sold Listings: 14 (Mar 7)
Months of Inventory: 38.93 (Mar 73.71)

Building lots from $100,001 to $150,000
Active Listings: 316 (Mar 308)
New Listings: 28 (Mar 28)
Sold Listings: 3 (Mar 0)
Months of Inventory: 105.33 (No Sales in Mar)

Building lots from $150,001 to $200,000
Active Listings: 136 (Mar 134)
New Listings: 5 (Mar 12)
Sold Listings: 2 (Mar 0)
Months of Inventory: 68.00 (No Sales in Mar)

Building lots from $200,001 and up
Active Listings: 136 (Mar 163)
New Listings: 8 (Mar 8)
Sold Listings: 2 (Mar 2)
Months of Inventory: 84.50 (Mar 81.50)

Short Sales:
They probably are the best deals on the market if you get the right one, are willing to wait an excruciating amount of time, and all the stars line up. We have closed a couple of them this last month, and I think they worked out well for the very most part. Look for one that is already price approved, it makes life a lot easier.

Foreclosures:
As always, 10% of them are excellent deals, 70% are pretty good, meaning you are going to be in a bit of an equity position once you put in the elbow grease, and get the landscaping back together, and 20% of them just don't make any sense at all. Just because it says bank owned, does not mean it is a deal. They have appraisers and they use them.

If you would like for me to send you listings of homes that are available in our area, just send me an email with your criteria.

If you want to be sent bank foreclosures that are ready to buy right now, go to www.southernutahforeclosure.com and register.

If you have any questions, or need to speak to me, send me an email, and I promise to get back to you.

Southern Utah Real Estate Market. What happened in March

Sorry I am a little late on this one, I was out of town last week and it kind of put me back a couple of days. Anyway, as always, I want to thank the following for making my March a nice month.

1. TA Quan Holdings (2) transactions {Sold Listings}
2. John and Peggy Andersen (Help from Spencer their son) {Sold Listings}
3. Nina and Ellis Rogers (Purchase)
4. Bill and Caryl Mantey (Purchase)

TA Quan, asked me to help them get some lots sold, which we were able to do; John and Peggy Andersen are currently serving a full-time LDS mission in Sofia, Bulgaria, so we want to thank Spencer, their son, for all he did to make this possible; Nina and Ellis, are purchasing a second home this month for family to live in; and Bill and Caryl got a smoking deal on a place out in Ivins.

I am starting to feel the nudge, I have been very busy since I have come back from my trip and we are currently working with several buyers and sellers right now. All of you that have been sitting on the fence, it is time to jump off. Interest rates are good, prices are low, and we really are starting to see some movement, so if you are waiting, it is time to get into the action. Believe me, this is the first time I have felt comfortable saying this for about two years.

There are some great tax incentives for first time home buyers and for those that are buying new construction that has never been lived in. If you have any questions send me an email and I can get you in touch with the right people.

So this is how it went in March, it went a bit better.

Total Market Activity on Homes in March

Active Listings: 1,773 (Feb 1,585)
New Listings: 334 (Feb 369)
Sold Listings: 154 (Feb 133)
Months of Inventory: 11.51 (11.92)

Homes priced up to $150,000
Active Listings: 232 (Feb 206)
New Listings: 62 (Feb 65)
Sold Listings: 32 (Feb 31)
Months of Inventory: 7.25 (6.65)

Homes priced from $150,001 to $200,000
Active Listings: 315 (Feb 281)
New Listings: 70 (Feb 64)
Sold Listings: 40 (Feb 40)
Months of Inventory: 7.88 (Feb 7.03)

Homes priced from $200,001 to $250,000
Active Listings: 281 (Feb 252)
New Listings: 46 (Feb 58)
Sold Listings: 23 (Feb 26)
Months of Inventory: 12.22 (Feb 9.69)

Homes priced from $250,001 to $300,000
Active Listings: 249 (Feb 223)
New Listings: 37 (Feb 43)
Sold Listings: 19 (Feb 12)
Months of Inventory: 13.11 (Feb 18.58)

Homes priced from $300,001 to $350,000
Active Listings: 159 (Feb 159)
New Listings: 26 (Feb 29)
Sold Listings: 14 (Feb 12)
Months of Inventory: 11.36 (Feb 13.25)

Homes priced from $350,001 to $400,000
Active Listings: 110 (Feb 91)
New Listings: 21 (Feb 25)
Sold Listings: 8 (Feb 4)
Months of Inventory: 13.75 (Feb 22.75)

Homes priced from $400,001 to $450,000
Active Listings: 62 (Feb 53 )
New Listings: 13 (Feb 18)
Sold Listings: 2 (Feb 1)
Months of Inventory: 31.00 (Feb 53.00)

Homes priced from $450,001 to $500,000
Active Listings: 61 (Feb 54)
New Listings: 17 (Feb 13)
old Listings: 5 (Feb 0)
Months of Inventory: 12.00 (No Sales in Feb)

Homes priced from $500,001 to $550,000
Active Listings: 42 (Feb 34)
New Listings: 8 (Feb 8)
Sold Listings: 2 (Feb 1)
Months of Inventory: 21.00 (Feb 34.00)

Homes priced from $550,001 to $600,000
Active Listings: 52 (Feb 47)
New Listings: 12 (Feb 10)
Sold Listings: 3 (Feb 0)
Months of Inventory: 17.33 (No Sales in Feb)

Homes priced from $600,001 to $650,000
Active Listings: 22 (Feb 21)
New Listings: 0 (Feb 6)
Sold Listings: 2 (Feb 1)
Months of Inventory: 11.00 (Feb 21.00)

Homes priced from $650,001 to $700,000
Active Listings: 25 (Feb 21)
New Listings: 5 (Feb 5)
Sold Listings: 0 (Feb 1)
Months of Inventory: No Sales in March (21.00)

Homes priced from $700,001 to $750,000
Active Listings: 17 (Feb 16)
New Listings: 3 (Feb 3)
Sold Listings: 0 (Feb 0)
Months of Inventory: No Sales in Feb (No Sales in March)

Homes priced from $750,001 to $1,000,000
Active Listings: 65 (Feb 59)
New Listings: 8 (Feb 13)
Sold Listings: 1 (Feb 1)
Months of Inventory: 65.00 (Feb 59.00)

Homes priced from $1,000,001 and Up
Active Listings: 84 (Feb 77)
New Listings: 6 (Feb 9)
Sold Listings: 3 (Feb 3)
Months of Inventory: 28.00 (Feb 25.67)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,264 (Feb 1,085)
New Listings: 108 (Feb 182)
Sold Listings: 8 (Feb 16)
Months of Inventory: 158.00 (Feb 67.81)

Here are the data ranges:

Building lots up to $100,000
Active Listings: 548 (Feb 463)
New Listings: 58 (Feb 97)
Sold Listings: 6 (Feb 12)
Months of Inventory: 91.33 (Feb 38.58)

Building lots from $100,001 to $150,000
Active Listings: 317 (Feb 248)
New Listings: 28 (Feb 50)
Sold Listings: 0 (Feb 2)
Months of Inventory: No Sales in March (Feb 124.00)

Building lots from $150,001 to $200,000
Active Listings: 146 (Feb 136)
New Listings: 12 (Feb 4)
Sold Listings: 0 (Feb 0)
Months of Inventory: No sales in March (No Sales in Feb)

Building lots from $200,001 and up
Active Listings: 253 (Feb 238)
New Listings: 10 (Feb 31)
Sold Listings: 2 (Feb 2)
Months of Inventory: 126.00 (Feb 119.00)

Short sales:
The banks are starting to be fairly decent with these again. They were a bit tight there for a month or two, my guess is thinking that our new commander in chief might have had a way to fix them up, but now that they are seeing that the trillions of dollars is not trickling down to them, they are starting to be reasonable. Though these are by far the most painful of all transactions in terms of the waiting game, my opinion is the ones that work end up in the best deals. So if you have the stomach for it, some of them are big winners.

Foreclosures:
Some good deals out there. A lot of these are just priced low enough for you to put in your sweat equity and money to bring them up to market standard. There are however a few that really are worth it, and can be bought for a significant discount, but I would say that is probably only about 15-25% of them. The banks have been pretty good about getting back, but expect a few days and maybe even a week’s wait, then their addendum that is much larger than the original contract you signed. All in all, not too bad, if you chase down the right one.

If you want access to real, ready to buy foreclosures, go to www.southernutahforeclosure.com and sign up. I will get them headed your way.

For any other questions, or just to send me a referral, please send me an email.

What happened in February in the Southern Utah Real Estate Market

Hello all, I hope everyone is hunkered down and excited about what is going on in life. The good news is there are some deals out there, and those who are ready are going to do well. Before we go any further, I want to thank the following for making February a nice month:


1. Wes and Talia Vaughan (Sold Listing)
2. YYY LLC (2 Sold Listings)
3. Overlook Green Valley LLC (Sold Listing)
4. Steve and Shirley Leydsman (Purchase)
5. C.A. and Sharon Persch (Purchase)
6. Good LLC {Duff Smith and Jane Rogers} (Sold Listing)
7. Larry and Sharon Brown (Sold Listing)


Special thanks to YYY, Overlook and Good LLCs who are all repeat performers.


I usually like to speak about rates and some of the aspects of the market to do with lending. Some of the things that have perked my attention lately are the $8,000 tax credit for first time buyers and Reverse Mortgages. I am not going to go through the nuts and bolts of each, but if you are interested I can get you to my well qualified colleagues to answer any questions you may have. One of them is even offering a fixed interest 5/1 arm that may make some sense for people just getting in that expect to have increase in income in the next five years. I guess we all expect that.


Without further ado, this is what happened in our market in February:

Total Market Activity on Homes in February
Active Listings: 1,933 (Jan 1,648)
New Listings: 399 (Jan 392)
Sold Listings: 120 (Jan 89)
Months of Inventory: 16.61 (Jan 18.52)

Homes priced up to $150,000
Active Listings: 228 (Jan 190)
New Listings: 60 (Jan 65)
Sold Listings: 30 (Jan 18)
Months of Inventory: 7.60 (Jan 10.56)

Homes priced from $150,001 to $200,000
Active Listings: 350 (Jan 295)
New Listings: 71 (Jan 60)
Sold Listings: 35 (Jan 25)
onths of Inventory: 10.00 (12.83)

Homes priced from $200,001 to $250,000
Active Listings: 325 (Jan 273)
New Listings: 67 (Jan 72)
Sold Listings: 23 (Jan 21.00)
Months of Inventory: 12.50 (Jan 21.00)

Homes priced from $250,001 to $300,000
Active Listings: 293 (Jan 245)
New Listings: 53 (Jan 52)
Sold Listings: 10 (Jan 16)
Months of Inventory: 29.30 (Jan 15.31)

Homes priced from $300,001 to $350,000
Active Listings: 185 (Jan 154)
New Listings: 28 (Jan 47)
Sold Listings: 8 (Jan 9)
Months of Inventory: 23.12 (Jan 17.11)

Homes priced from $350,001 to $400,000
Active Listings: 121 (Jan 100)
New Listings: 27 (Jan 20)
Sold Listings: 4 (Jan 3)
Months of Inventory: 30.25 (Jan 33.33)

Homes priced from $400,001 to $450,000
Active Listings: 65 (Jan 41)
New Listings: 18 (Jan 13)
Sold Listings: 1 (Jan 2)
Months of Inventory: 65.00 (Jan 20.50)

Homes priced from $450,001 to $500,000
Active Listings: 74 (Jan 60)
New Listings: 18 (Jan 13)
Sold Listings: 0 (Jan 2)
Months of Inventory: No Sales in Feb (Jan 30.00)

Homes priced from $500,001 to $550,000
Active Listings: 46 (Jan 38)
New Listings: 8 (Jan 7)
old Listings: 1 (Jan 0)
Months of Inventory: 46.00 (No Sales in Jan)

Homes priced from $550,001 to $600,000
Active Listings: 50 (Jan 37)
New Listings: 10 (Jan 8)
Sold Listings: 0 (Jan 0)
Months of Inventory: No Sales in Feb (No sales in Jan)

Homes priced from $600,001 to $650,000
Active Listings: 27 (Jan 22)
New Listings: 5 (Jan 3)
Sold Listings: 1 (Jan 0)
Months of Inventory: 27.00 (No Sales in Jan)

Homes priced from $650,001 to $700,000
Active Listings: 33 (Jan 24)
New Listings: 5 (Jan 10)
Sold Listings: 1 (Jan 1)
Months of Inventory: 33.00 (Jan 24.00)

Homes priced from $700,001 to $750,000
Active Listings: 18 (Jan 12)
New Listings: 5 (Jan 4)
Sold Listings: 0 (Jan 1)
Months of Inventory: No Sales in Feb (Jan 12.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 81 (Jan 70)
New Listings: 14 (Jan 6)
Sold Listings: 0 (Jan 0)
Months of Inventory: No Sales in Feb (No Sales in Jan)

Homes priced from $1,000,001 and Up
Active Listings: 96 (Jan 87)
New Listings: 9 (Jan 11)
Sold Listings: 3 (Jan 1)
Months of Inventory: 32.00 (Jan 87.00)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,197 (Jan 1,099)
New Listings: 176 (Jan 96)
Sold Listings: 15 (Jan 12)
Months of Inventory: 79.80 (Jan 91.58)

Here are the data ranges:

Building lots up to $100,000
Active Listings: 533 (Jan 486)
New Listings: 95 (Jan 45)
Sold Listings: 12 (Jan 11)
Months of Inventory: 44.42 (Jan 44.18)

Building lots from $100,001 to $150,000
Active Listings: 264 (Jan 252)
New Listings: 43 (Jan 22)
Sold Listings: 1 (Jan 0)
Months of Inventory: 264.0 (No Sales in Jan)

Building lots from $150,001 to $200,000
Active Listings: 144 (Jan 135)
New Listings: 6 (Jan 10)
Sold Listings: 0 (Jan 1)
Months of Inventory: No sales in Feb (Jan 135.00)

Building lots from $200,001 and up
Active Listings: 256 (Jan 226)
New Listings: 32 (Jan 19)
Sold Listings: 2 (Jan 0)
Months of Inventory: 128.00 (No sales in Jan)

Short Sells:
Some are going, but they are a little tougher. I have four short sells offers in right now and none of them are going to swift. I hope the clouds will soon part and make some of my clients happy. They do work, but I would venture to guess that at least 40-50% of the foreclosed listings out there were once short sell listings that did not work. All that being said, you really do end up getting the best deals on short sells if you have the time, patience, and ability to wait for a long time, jump through a lot of hoops and are willing to not have much say in the matter.

Foreclosures:
They are a big deal right now. A few of them are excellently priced and are a great deal, as in you buy, and you have equity, right now. One agent particularly seems to work magic with the bank and when I see his listings I take special note. Some are just good deals, that means if you are handy, you end up saving 5-7% off retail. Most of them are that 3-10% below the market that it is going to take to get them up to speed. A few, and I have one right now, are just lousy deals. They are not going to sell, and I am going to get fired by the bank.
As always, if you want to take a look at my current listings http://www.joelangston.com/
If you want a free list of foreclosed homes in our area that are actually available for sale. http://www.southernutahforeclosure.com/

Southern Utah Real Estate Market in January

Thank you all for all you have done for me this past year. It is definitely time for us to move on with life and calm down on all the late year well-wishing and go to work, but I have to tell you, I was blessed WITH YOUR HELP to assist 37 individuals and families either buy or sell, a house, building lot or some other kind of real estate. Granted, that is only half of what I was doing earlier this decade, but I wanted to thank this group, because by 2008 standards, that is not too shabby. As I track the sourcing of each transaction, it looks like 75-80% of them came from you. Friends and past clients. I could not do it without you. Thanks so much!

That being said, I did not have any closings in January, but I have a few lined up for February, three of which have already happened and we are looking at at least two or three more, so I am not too far off pace of having one each week this year.

In terms of highlighting another blog or business this month, I would like to mention something my wife and I have been doing for the past several months. We have been using essential oils to either supplement, or in my case take the place of either prescription or over the counter drugs and medicines. We have seen no miracles, but our children have been very well this winter and a lot of people in our neighborhood have noticed and become involved. I have been sick twice since my wife has been doing this with the kids, maybe it would have been prevented if I would have been taking them more faithfully, instead of taking medicine I used the essential oils. It still took a few days but I was able to do it more naturally and with none of the groggy haze that comes with most of the medicines out there. Anyway, if you would like more information, here is a link you can go to.

Need to borrow money for a house? Remember, if you have credit and job history, you can still get a 5% down conventional loan OAC, or a 3.5% down FHA loan OAC (contact me if you need specifics, I can refer you to the right people). That being said, I think if you see a good deal, it is time to buy. Many segments of our market are now to the point where they "pencil" as rentals, and they can not be built for the prices they are going for. It is at that point in the real estate cycle when things start to smooth out. I am not predicting we are at the bottom, nor am I predicting that there will not be some more movement, because I think there will. What I am saying, if you see something that is a good deal now, it will likely be a good deal, or at least a fair deal whenever we reach the bottom. I think it is time to buy if you are ready. Any way, this is how it all turned out in January.

Total Market Activity on Homes in January
Active Listings: 1,915 (Dec 1,643)
New Listings: 407 (Dec 299)
Sold Listings: 82 (Dec 121)
Months of Inventory: 23.35 (Dec 13.58)

Homes priced up to $150,000
Active Listings: 194 (Dec 166)
New Listings: 57 (Dec 40)
Sold Listings: 15 (Dec 21)
Months of Inventory: 12.93 (Dec 7.90)

Homes priced from $150,001 to $200,000
Active Listings: 346 (Dec 312)
New Listings: 72 (Dec 63)
Sold Listings: 21 (Dec 32)
Months of Inventory: 16.48 (Dec 9.75)

Homes priced from $200,001 to $250,000
Active Listings: 316 (Dec 262)
New Listings: 68 (Dec 57)
Sold Listings: 13 (Dec 20)
Months of Inventory: 24.31 (Dec 13.05)

Homes priced from $250,001 to $300,000
Active Listings: 273 (Dec 242)
New Listings: 51 (Dec 36)
Sold Listings: 14 (Dec 17)
Months of Inventory: 19.50 (Dec 14.24)

Homes priced from $300,001 to $350,000
Active Listings: 180 (Dec 143)
New Listings: 49 (Dec 29)
Sold Listings: 9 (Dec 9)
Months of Inventory: 20.00 (Dec 15.89)

Homes priced from $350,001 to $400,000
Active Listings: 132 (Dec 116)
New Listings: 32 (Dec 14)
Sold Listings: 4 (Dec 11)
Months of Inventory: 33.00 (Dec 10.55)

Homes priced from $400,001 to $450,000
Active Listings: 72 (Dec 66)
New Listings: 10 (Dec 12)
Sold Listings: 2 (Dec 4)
Months of Inventory: 36.00 (Dec 16.50)

Homes priced from $450,001 to $500,000
Active Listings: 64 (Dec 53)
New Listings: 16 (Dec 9)
Sold Listings: 2 (Dec 0)
Months of Inventory: 32.00 (No Sales in Dec)

Homes priced from $500,001 to $550,000
Active Listings: 47 (Dec 42)
New Listings: 8 (Dec 6)
Sold Listings: 0 (Dec 3)
Months of Inventory: No Sales in Jan (Dec 14.00)

Homes priced from $550,001 to $600,000
Active Listings: 43 (Dec 36)
New Listings: 11 (Dec 4)
Sold Listings: 0 (Dec 1)
Months of Inventory: No Sales in Jan (Dec 36.00)

Homes priced from $600,001 to $650,000
Active Listings: 31 (Dec 29)
New Listings: 4 (Dec 4)
Sold Listings: 0 (Dec 0)
Months of Inventory: No sales in Jan (No Sales in Dec)

Homes priced from $650,001 to $700,000
Active Listings: 32 (Dec 29)
New Listings: 7 (Dec 3)
Sold Listings: 1 (Dec 0)
Months of Inventory: 32.00 (No Sales in Dec)

Homes priced from $700,001 to $750,000
Active Listings: 18 (Dec 16)
New Listings: 7 (Dec 3)
Sold Listings: 0 (Dec 1)
Months of Inventory: No Sales in Jan (Dec 16.00)

Homes priced from $750,001 to $1,000,000
Active Listings: 83 (Dec 75)
New Listings: 6 (Dec 9)
Sold Listings: 0 (Dec 1)
Months of Inventory: No Sales in Jan (Dec 75.00)

Homes priced from $1,000,001 and Up
Active Listings: 95 (Dec 81)
New Listings: 11 (Dec 13)
Sold Listings: 1 (Dec 1)
Months of Inventory: 95.00 (Dec 81.00)

The following information is for building lots in the same general area as the housing data listed above. All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,233 (Dec 1,162)
New Listings: 100 (Dec 133)
Sold Listings: 11 (Dec 14)
Months of Inventory: 112.09 (Dec 83.00)

Here are the data ranges:

Building lots up to $100,000
Active Listings: 518 (Dec 492)
New Listings: 45 (Dec 67)
Sold Listings: 11 (Dec 9)
Months of Inventory: 47.09 (Dec 54.67)

Building lots from $100,001 to $150,000
Active Listings: 297 (Dec 278)
New Listings: 27 (Dec 28)
Sold Listings: 0 (Dec 0)
Months of Inventory: No Sales in Jan (No Sales in Dec)

Building lots from $150,001 to $200,000
Active Listings: 166 (Dec 156)
New Listings: 9 (Dec 19)
Sold Listings: 0 (Dec 1)
Months of Inventory: No sales in Jan (Dec 59.00)

Building lots from $200,001 and up
Active Listings: 252 (Dec 236)
New Listings: 19 (Dec 19)
Sold Listings: 0 (Dec 4)
Months of Inventory: No Sales in Jan (Dec 59.00)

Shorts Sells:

After long last, I was able to close a short sell I have been working on for a few months. They do work, and when they do, they probably are the best deals, but if you are in a hurry, forget it. They usually take from 2-8 months to work out, and it usually goes from no communication to doing everything you can and must in a matter of days, and with very little if any say in the matter if you want the property. A recent national statistic said only about 30-35% of short sells are successful. Bottom line, a lot of waiting for something that may work. If it does, you usually do well, but be prepared for some waiting time and red tape.

One of the tips and tricks that I like to use is, if you see short sells that you like, since you DO NOT TO PUT DOWN EARNEST MONEY, and it has no relevance until the lien holder agrees to it, make offers on several, and see which one gets back to you first. If you get one to say "yes" rescind the rest and move forward. In the end you are doing everyone a favor of getting things moving, because the bank usually will not speak to the listing agent until he or she has a contract in hand.

Foreclosures:

We are seeing a lot of them. They are good deals, but the best way I can describe them is a house that usually needs a little work, and if you are handy and are willing to jump in, you can usually buy them for about a 10% discount, but they probably need about 3-5% of that back to bring them up to speed. I have not worked the numbers on this, all I am saying is in most cases they are a good deal and you can gain some sweat equity, but they certainly are not the deal on TV you see at midnight that says you can buy houses for $1.86 and a bag of chips. If that were the case, and they really were that great of a deal, don't you think that I would get a few partners and buy them? That being said, I have helped a few clients get some great deals this past quarter or two.

If you want a free list of all of the foreclosures on the MLS for sale, go ahead and log onto:
www.southernutahforeclosure.com, and fill out the form and I can get you set up.

Thanks for your patience, and I appreciate your support. If you need me, send me an email, I will get back to you.

Happy New Year everyone! I hope every one has taken off the feed bag and is ready to go to work. I know when my wife is ready for the holidays to be over, because she collects all of the fun foods in the house and throws them all away, whether I am finished or not.

I would like to Thanks the following for helping me with my family and Merry Christmas and getting me started on a new year...

1. Bill Rawson and Jon Crockett (purchase and sale)

2. Eric and Heather Jensen (purchase)

3. Len and Erin Pickens (purchase)

4. Terry Ryerson from Prudential Realty (sale transformed to purchase)

Bill and Jon are both past clients and Bill bought a building lot from Jon. Eric and Heather Jensen are first time buyers and we were able to find them a great home to get started in. Len and Erin Pickens were referred to me by Terry Kelvington, a Sphere of Influence member and they bought one of the premiere golf course view lots on Sky Mountain Golf course. It is absolutely gorgeous. Terry Ryerson is a competing agent who had a buyer for one of my listings, when it foreclosed. The bank no longer needed my services, but he kept me in the deal and shared his commission with me. Never have I seen such a great sacrifice and sense of fair play from a competing agent. My hat is off to him.

To all of you that think there is not money out there, I still have a couple of lenders that I work with very closely that can do FHA and 5% down conventional home loans if you can show income and credit. I know, it doesn't seem fair to require history of actually paying bills and the income to do so, but those are the new rules and we will all have to get used to them. The point is, qualified folks that have income and credit can and are buying homes so don't let the haze of the doom and gloom media scare you too bad.

This is what happened in December, you an compare it with November in the (...).

Total Market Activity on Homes in December

Active Listings: 2,011 (Nov 1,775)

New Listings: 305 (Nov 306)

Sold Listings: 115 (Nov 127)

Months of Inventory: 17.49 (Nov 13.98)

Homes priced up to $150,000

Active Listings: 196 (Nov 162)

New Listings: 42 (Nov 45)

Sold Listings: 19 (Nov 27)

Months of Inventory: 10.32 (Nov 6.00)

Homes priced from $150,001 to $200,000

Active Listings: 343 (Nov 301)

New Listings: 65 (Nov 56)

Sold Listings: 32 (Nov 28)

Months of Inventory: 10.72 (Nov 10.75)

Homes priced from $200,001 to $250,000

Active Listings: 331 (Nov 281)

New Listings: 57 (Nov 55)

Sold Listings: 20 (Nov 27)

Months of Inventory: 16.55 (10.41)

Homes priced from $250,001 to $300,000

Active Listings: 287 (Nov 259)

New Listings: 34 (Nov 47)

Sold Listings: 16 (Nov 16)

Months of Inventory: 17.94 (Nov 16.19)

Homes priced from $300,001 to $350,000

Active Listings: 180 (Nov 159)

New Listings: 29 (Nov 25)

Sold Listings: 9 (Nov 6)

Months of Inventory: 20.00 (Nov 26.50)

Homes priced from $350,001 to $400,000

Active Listings: 138 (Nov 131)

New Listings: 14 (Nov 20)

Sold Listings: 11 (Nov 8)

Months of Inventory: 12.55 (Nov 16.38)

Homes priced from $400,001 to $450,000

Active Listings: 85 (Nov 77)

New Listings: 8 (Nov 11)

Sold Listings: 3 (Nov 4)

Months of Inventory: 28.33 (Nov 19.25)

Homes priced from $450,001 to $500,000

Active Listings: 79 (Nov 72)

New Listings: 12 (Nov 7)

Sold Listings: 0 (Nov 3)

Months of Inventory: No Sales in Dec (Nov 24.00)

Homes priced from $500,001 to $550,000

Active Listings: 53 (Nov 50)

New Listings: 4 (Nov 7)

Sold Listings: 2 (Nov 0)

Months of Inventory: 26.50 (No sales in Nov)

Homes priced from $550,001 to $600,000

Active Listings: 46 (Nov 43)

New Listings: 6 (Nov 0)

Sold Listings: 1 (Nov 3)

Months of Inventory: 46.00 (Nov 14.33)

Homes priced from $600,001 to $650,000

Active Listings: 28 (Nov 24)

New Listings: 4 (Nov 1)

Sold Listings: 0(Nov 2)

Months of Inventory: No sales in Dec (Nov 12.00)

Homes priced from $650,001 to $700,000

Active Listings: 35 (Nov 29)

New Listings: 0 (Nov 1)

Sold Listings: 0 (Nov 1)

Months of Inventory: No Sales in Dec (Nov 29.00)

Homes priced from $700,001 to $750,000

Active Listings: 22 (Nov 19)

New Listings: 1 (Nov 3)

Sold Listings: 1 (Nov 0)

Months of Inventory: 22.00 (No Sales in Nov)

Homes priced from $750,001 to $1,000,000

Active Listings: 94 (Nov 84)

New Listings: 9 (Nov 14)

Sold Listings: 0 (Nov 1)

Months of Inventory: No Sales in Dec (Nov 84.00)

Homes priced from $1,000,001 and Up

Active Listings: 94 (Nov 84)

New Listings: 15(Nov 12)

Sold Listings: 1(Nov 1)

Months of Inventory: 94.00 (Nov 84.00)

The following information is for building lots in the same general area as the housing data listed above.

All Building Lots in the Greater St. George and Hurricane Valley

Active Listings: 1,257 (Nov 1,123)

New Listings: 137 (Nov 66)

Sold Listings: 14 (Nov 40)

Months of Inventory: 89.79 (Nov 28.07)

Building lots up to $100,000

Active Listings: 521 (Nov 449)

New Listings: 69 (Nov 37)

Sold Listings: 9 (Nov 14)

Months of Inventory: 57.89 (Nov 32.07)

Building lots from $100,001 to $150,000

Active Listings: 332 (Nov 300)

New Listings: 31 (Nov 7)

Sold Listings: 0 (Nov 1)

Months of Inventory: No Sales in Dec (Nov 300.00)

Building lots from $150,001 to $200,000

Active Listings: 158 (Nov 144)

New Listings: 18 (Nov 8)

Sold Listings: 1 (Nov 2)

Months of Inventory: 158.00 (Nov 72.00)

Building lots from $200,001 and up

Active Listings: 246 (Nov 230)

New Listings: 19 (Nov 14)

Sold Listings: 4(Nov 23)

Months of Inventory: 61.50 (Nov 10.00)

Short Sales

Still happening. Not the easiest way to make it go away, but if you have the following criteria, you have a fair shot at it.

1. Loss of job

2. Divorce

3. Major medical emergency

If you are solvent, have other assets, or if it is a spec or second home, you can expect a deficiency notice, and an unsecured promissory note to the lender. The good news is it is often for a diminished amount and the interest and payment are often negotiable. Needless to say all cases are different, and people could cite several examples to the contrary, but these generalities seem to prevail. Before making this kind of decision, it is very wise to speak to your accountant or attorney to decide what is best for you if you are considering selling your home short.

For a buyer, first and foremost if you make an offer on a short sell that does not have an approved price, plan on waiting a minimum of about a month and as long as six to get an answer from the bank (lien holder). Bottom line, if you are in a hurry, probably not for you. You must be very patient, and kind of go to sleep while you are waiting. If you find an "approved" short sell, that means some other poor unfortunate soul has done your dirty work of waiting and their loan fell through or they just got tired of waiting and opted out of the deal. This works great for you, because you can slide in there, and it works a lot more like a normal deal at this point, except for you have to meet all of their demands and timing to get it to work.

One more thing to remember, since you will be getting a house for a great deal, expect some risk. There may be times when you spend money on appraisals and inspections, then the seller's bank makes an unrealistic demand at the closing table that blows up the deal. Unfortunately, you are out your money; keep in mind the seller usually has no money, that is why they are selling short, and the entire deal is subject to third party approval.

Patience is the key with short sales. Sadly, depending on who the listing agent is, and how well they have done their home work and submitted their package to the bank will make a huge difference in the success of the transaction closing. Most often, that is something you can not control.

Foreclosures

I just did a quick search and found that almost 7.5% of the listed RESIDENCES, not building lots, mobile homes or park models, but actual single family homes, Condos and townhomes are currently bank owned. That does not include short sales! Short sales account for an additional 17.1%, and they are the ones that marked it correctly, I would venture to guess that shorts sales are at least 20% of the active listings.

The point is, there is better than, and I mean a lot better than a 25% chance you will be dealing with a short sale or a foreclosure if you are looking to buy a home in this market. Contrary to common belief, you can not steal these houses, and the late night shows that tell you can buy places for $1000 and a bag of chips, might work in Detroit or Flint, Michigan, but it sure does not work here. A foreclosure usually will take within 2% of the asking price in the first 30 days of the listing. After the first 30 days they become a lot more eager to deal with realistic, qualified buyers provided you can show good down payment and qualification. Even if you offer is verbally accepted within the first 24-72 hours of making it, plan on the banks addendum with in two weeks, which is usually a regurgitation of your offer on their forms so they don't have to mess with our contract. Again, patience is the key.

We live in different real estate world. Until the market corrects it self and this inventory is absorbed, we can count on dealing with these two types of listings very regularly. You probably will not hit a grand slam home run, and get a short sales or foreclosure for pennies on the dollar, but like some of my clients have, you can get a deal that puts you in an equity position, and allows you to do some fixing and updating without pricing yourself out of the market.

As always, if I can do anything for you or anyone you know, send me an email.

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