St George Utah Real Estate Blog 
3 Tips For Purchasing a Home That Has Been Foreclosed
Wednesday, May 2nd, 2012 at 1:26pm. 54 Views, 0 Comments.
Like most areas, the foreclosure market remains high in St George. Buyers often feel as though they can achieve their best deal by purchasing a foreclosed home. While this can be true, it is not always the case. If you are in the market to buy a new home, here are 3 tips for purchasing a home that has been foreclosed in St George Utah.
Use a Qualified Buyers Agent
Using a local, qualified buyer's agent is a critical step when purchasing a foreclosed home. Using a local agent can be beneficial for understanding the possible history of the particular home. One problem with purchasing a foreclosed home is that there are NO sellers disclosures. You will purchase this home without knowing any history about it. A good buyer's agent…
What’s a Short Sale? Short Sale Real Estate Explained
Wednesday, April 18th, 2012 at 11:00am. 122 Views, 0 Comments.
What is a short sale? What is the short sale process in St George Utah? Can I get a better deal on a St George short sale property? Short sales and Foreclosures are NOT the same thing. In “short” a short sale is when a homeowner is facing financial stress and they are attempting to sell the home for less than they own on their loan. While it is the homeowner who is actually selling the home (the homeowner still owns the property) it is the bank or mortgage provider(s) that will make the final decision on IF and for HOW MUCH they will accept. Typically here on our St George MLS, short sale listings may be noted as “third party approval required”. A Foreclosure is when the bank has taken the home from the homeowner and now…
Spring 2012 St George Real Estate Statistics
Tuesday, April 10th, 2012 at 11:04am. 576 Views, 0 Comments.
Welcome SPRING! Things are warming up, the tulips are in bloom, and once again it's time to take a look at how things are shaping up in the St George Utah real estate market. This real estate statistics blog will focus on the Greater St George area as well as some attention on the Sun River St George real estate market. This will include homes listed by ReMax First St George as well as all other local brokerages. For those of you keeping an eye on Sun River, I think you'll find this report interesting. I'll be including a link to all recently sold SunRiver homes that have closed since January. This will be beneficial for those who may already have their Sun River home listed or those who are considering listing your Sun River home,…
St George Year End Real Estate Market Report 2011
Monday, January 23rd, 2012 at 3:07pm. 793 Views, 0 Comments.
The 2011 St. George year end real estate market report is finally finished. In this report, I'll illustrate the current conditions and compare to years past. I'll also take a look at area specific markets and try to determine a pattern. I'll also gaze into my crystal ball and offer my St George real estate market predictions to those readers who actually make it to the end of the report.
St George Real Estate 2010 vs. 2011
Take a look at this Yearly Market Comparison (Greater St. George Residential only). This shows that our sales are up 7.1% over last year and also shows that the median Sale Price is DOWN 5.4%. In a quick comparison looking at 2009 to 2010 we had an increase of 14% in sold homes and the Median Sale Price had…
St. George Real Estate Market Statistics November 2011
Tuesday, November 15th, 2011 at 12:46pm. 893 Views, 0 Comments.
I've neglected the housing statistics for so long, that even I am excited to find out what's going on the in the St. George real estate market. Thanks Brian for the push I needed to get this information up to date.
Let's take a look at the general stats for greater St. George residential as of November 15, 2011:
ACTIVE: 1,171 of the 1,171 "active" 295 homes are distressed which equates to 25% of our inventory is of distressed status (short sale or foreclosure).
SOLD: 249 (from 10/1/11 through 11/14/11). Of the 249 SOLD homes, 78 sold homes were of distressed status which equates to 31% of the sold homes were of distressed status.
Hurricane Utah Real Estate Market Conditions
Hurricane has been badly neglected on these posts,…
St George Foreclosure Statistics September 2011
Sunday, September 11th, 2011 at 9:40am. 787 Views, 0 Comments.
Foreclosure activity and market conditions continue to be a hot topic here in St. George. It’s a condition that affects buyers, sellers, and residents. There is something going on, a glimmer of light at the end of the tunnel. It’s still too early to officially call it “stabilization”…it could end up being a train! It does appear however, that our St George real estate market may be stabilizing a bit.
Here are the facts: New construction=UP! More permits were pulled last month than in any month since October of 2007. Great news there.
Notice of Defaults filed: up a slight bit in comparison to the prior 3 months, but down considerably compared to the past 3 YEARS. Almost half as many compared to our peak…
St George Utah real estate market report for July 2011
Sunday, July 17th, 2011 at 8:20am. 1053 Views, 1 Comments.
This report will explore market conditions for St. George including the St George foreclosure activity/REO inventory. I will also include Sun River St George sold homes and currently listed. The illustrations below are for Greater St. George residential as of 7-16-11.
How Many Homes Are For Sale in St George Utah?
- Active Listed: 1208
- Short Sale Active: 272
- REO Active (foreclosed): 46
- Total Percentage for Active Distressed: 26%
How Many Homes Sold Last Month in St. George?
SOLD from 6-1-11 to 7-16-11
- Sold: 347
- Short Sales Sold: 51
- REO Sold: 77
- Total Percentage for SOLD Distressed: 37%
Is the St George real estate market improving?
Take a look at the graph below. This illustrates…
St George Utah Real Estate Market Absorption and Statistics
Sunday, June 5th, 2011 at 10:43am. 980 Views, 2 Comments.
Here is a St. George Utah real estate market snap shot illustrating market absorption for residential property in St. George for May 2011 and a year to date analysis as well.
Our St. George market is changing. While it's accurate to state that we have improved, noting that inventory is down and sales are up, it's to soon to determine if we have truly hit bottom and we are now in an upward trend, or if we are simply having a few great months fueled by low interest rates and rock bottom pricing.
May statistics showed (St. George Residential) a total of 1206 active, of which 239 were new listings, 142 sold listings, and 187 went pending. Just to focus on the last two numbers, it's interesting to point out that a total of 329 homes sold/went…
The Down Payment Saves Money
Sunday, May 15th, 2011 at 8:18am. 499 Views, 1 Comments.
Are you considering a home purchase in St George, Utah? Here is some useful information regarding your down payment. A down payment is the amount of money that a buyer puts down on the home they are purchasing. That is simple enough to understand. However, the importance of a down payment goes beyond just that explanation.
Simply put, as an example, if a house costs $200,000 and the buyer puts down 10 percent, or $20,000 toward the purchase, they will need to be approved for a mortgage of $180,000. The down payment basically lessens how much of a mortgage you need to take out. This may be the difference between qualifying for a mortgage or not.
However, the benefits of making a large down payment are much more far reaching than simply a…
St George Real Estate Market Conditions Recap
Thursday, April 28th, 2011 at 10:45am. 1091 Views, 0 Comments.
How is the real estate market in St George? Is there still a lot of foreclosure activity in St George? Do you think the market has stabilized in Saint George? Has there been any improvement for the real estate market? What do you think will happen in the next 1-3 years in St. George real estate?
These are my “daily questions” from most St George Utah real estate buyers and sellers. I’ll try to address the current market conditions and offer my opinion for that last question too.
It’s important to note that for the third straight month, Notice of Defaults (NOD) is down. NOD’s are sent out “pre-foreclosure”. It’s when the homeowners are behind in their payments and it is the first step the bank takes to start…