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.