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        <title>St George Utah Real Estate Blog</title>
        <link>http://www.stgeorgeutproperty.com/blog/consumer-information/</link>
        <description>Find news and information pertaining to the St George Utah real estate market.  Paula Smith of ReMax First offers news and updates with relevant market statistics and analysis.   </description>
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            <guid>http://www.stgeorgeutproperty.com/blog/3-tips-for-purchasing-a-home-that-has-been-foreclosed.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/3-tips-for-purchasing-a-home-that-has-been-foreclosed.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>3 Tips For Purchasing a Home That Has Been Foreclosed</title>
            <description> <![CDATA[ 
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 will typically try to pull the history from an old MLS 
listing, which could provide some detail into the past status of the 
home. For instance, once I checked the history and found that a few 
years back an agent had noted "settling issues on the rear of the home".
 Since there were currently no obvious signs of settling, we were able 
to hire qualified individuals to investigate this concern. Also, a local
 agent will have insight to specific neighborhoods and possible 
concerns. Buyer's agents are aware with industry standards and what will
 likely be accepted on a written contract. I cannot tell you how many 
buyers I've encountered who had no idea they could have a home warranty 
included in their transaction.


Hire a Home Inspector


This
 is not the time to call your friends dad who did construction for 20 
years to come and "inspect" your potential home. Sure, they can come and
 offer their opinion, but now more than ever, it is imperative to hire 
professionals to really check the home. Again, you have NO history on 
this home. Keep in mind there is probably a reason why the former owners
 walked away. It can also be an alert if there was no prior listing 
history, meaning the former owners did not try to sell it prior to 
walking away. Sometimes this is because they know something is seriously
 wrong with the property and they would rather walk than to face the 
next buyer and tell them all of the issues. Now is the time to hire a 
HVAC technician, plumber, and a roofer to offer their professional 
opinion for the key components of the home. If the property has been 
abandoned for any length of time, this can add to the problems that may 
not be visibly obvious.


Financially Prepare for the Unknown


Almost
 always there will be something discovered after closing that may have 
been missed on the home inspections or that was unable to be tested (for
 instance, you cannot test the AC in the winter). Homes that have been 
sitting abandoned for any length of time will almost always develop some
 issues. Sprinkler lines may have busted, pipes may have corroded, or 
there could be some acts of sabotage from the prior owner. One home I 
sold, I happened to be present during the home inspection. This 
inspector was extremely thorough (which is crucial) and as he was 
running the dishwasher I noticed some water on the ground. We stopped 
the dishwasher and he discovered a very small hole in the p-trap of the 
pipe under the sink. This small hole (about the size of a drill bit) was
 located on the backside, so it was undetectable during visual 
inspection. Clearly a disgruntled homeowner who is upset with the bank 
can do some serious damage to a home in very inconspicuous ways. 
Unfortunately the former owners directed aggression at the bank, 
typically only causes the new (innocent) homeowner to be caught in the 
crosshairs. Have some available cash ready for issues that can arise 
after closing. Be prepared for the unknown.


Purchasing a 
foreclosed home in St George Utah can be a great way to save some money,
 however keep in mind that you will have to exercise increased due 
diligence with any foreclosure purchase, which can add to the expenses. 
An undetected problem after closing could very easily erase every cent 
of that "savings" and even turn out to be more costly. If you are 
considering a home in the St George Utah area, contact Paula Smith of 
ReMax First Realty www.StGeorgeUTproperty.com, here you can also view current market reports and statistics that depict our current foreclosure conditions.  Looking for a list of ALL St George Utah listed Foreclosures?  Find a free foreclosure list updated daily here:  St George Utah Foreclosures list
 ]]> </description>
            <pubDate>Wed, 02 May 2012 13:26:47 -0500</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/spring-2012-st-george-real-estate-statistics.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/spring-2012-st-george-real-estate-statistics.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Spring 2012 St George Real Estate Statistics</title>
            <description> <![CDATA[ 
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, to gain perspective on exactly what is selling. 


Homes That Have Sold in St George


Since January 1, 2012 there have been 571 YTD homes that
have SOLD in the Greater St. George area. 
As a comparison for this same period last year, we sold 605 homes.  Of the 571 sold this year, 191 were of
distressed status (short sale or foreclosure) this means that 33% of the homes
sold were of distressed status.  Back to the
comparison for the same time last year there were 254 distressed sales (so of
the 605 sold last year 41.9% were of distressed status).  Another key element and a necessary ingredient
for market stabilization is the number of homes on the inventory.  Below is a multi-year snap shot illustrating
our favorable conditions.  





You can see that the number of active listings continues to
be on the decline and the months in inventory is on the lower side of the scale
as well.  Making our way through the
inventory will pave the way for the laws of supply and demand to kick in,
allowing stabilization and potentially appreciation.  This should not be confused with an expected
overnight boom, I believe those days to be over.  The process will be slow and gradual and of
course other elements in our world can easily upset this very fragile and volatile
market, and can completely change at any moment.  The optimism comes from the fact that we have
had several months of good (stable) sales, reduced inventory, and we are making
our way through the distressed inventory.


SUN RIVER ST GEORGE REAL ESTATE


Here is the latest on SunRiver St George.  As of today, there are currently 74 ACTIVE
homes for sale in Sunriver.  Of  these 74, there are 7 of distressed
status.  This is actually an all time
high (at least as far as I've been tracking, which is a few years).  Most of these distressed sales are Short
Sales in Sun River, so there is a possibility they can become
foreclosures.  YTD there have been 20
homes sold in Sun River.  Want to see
what homes have sold in Sunriver?  Send me an email and I'll forward the link.  Currently there are 10 homes pending. 


It seems that the
homes that are selling at the moment, are view homes (homes that back to open
space and offer a view) or homes in the lower price point (below
$200,000).  Although the number of
distressed homes is up in Sun River, it should also be considered that the size
of this community is of around 1500 homes--so in comparison to St George
proper, the number is distressed homes is practically non-existent.  It will be interesting to continue to monitor
however, and determine if the trend will continue.  This can force prices in a downward trend for
Sunriver (having to compete with distressed sales) and they have had the luxury
of maintaining a higher price point in comparison with surrounding areas
outside of Sunriver.  While the prices
have dropped within Sun River, the price per square foot has always been higher
than that of comparable homes outside of the community.


Thinking of listing your Sun River home?  Give me a call for a free market
evaluation.  Thinking of purchasing a
home in Sun River?  I've got a couple of
GREAT listings--both are open floor plans offering the desirable 2 bedroom plus
a den.  One has a 3 car garage and the
other has a 2 1/2 car garage with a casita. 
Check them out here:  SunRiver Homes For Sale


Thank you for taking the time to read these types of reports.  If you would like a more personalized report, or if you have a market question--please contact Paula Smith.  If you are thinking of buying or selling in the St George area, I would appreciate the opportunity of be of assistance.  Thank you, have a wonderful day.
 ]]> </description>
            <pubDate>Tue, 10 Apr 2012 11:04:35 -0500</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/st-george-real-estate-market-statistics-november-2011.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/st-george-real-estate-market-statistics-november-2011.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>St. George Real Estate Market Statistics November 2011</title>
            <description> <![CDATA[ 
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, let's
take a look at how our neighbors are doing.


ACTIVE:  214  of the 214 active (residential) homes there
are 66 homes of distressed status (or 30% of the listed inventory is of distressed status)


SOLD:  44 (from 10/1/11
through 11/14/11).  Of the 44 sold homes,
there were 16 distressed sales (or 36% of the sold homes were of distressed status)


St George Utah Residential Year To Date Market Conditions


Let's take a sneak peak at the year end and year over year
comparable sales.  Typically I post these in January,
but let's see how things are stacking up:





We are closing the gap between the RED line (active
inventory) and the BLACK line (sold home) which is necessary for market
stabilization (queue supply and demand!). 
This 2 year review shows gradual, consistent  stabilization.   





 


So here is another of my favorite charts, I
like to call it "what's selling". 
This will show the price range of the 249 homes that were sold to gain
perspective on the most sought after price range for most recent buyers.


 


 


If you have specific market information you'd like to see,
feel free to email and I'll work in into my next post. 


I've got a few new listings! 
For you SUN RIVER ST. GEORGE RESALE buyers, I have a 3 bedroom 3 bath (with
CASITA), and 2 really great FULLY FURNISHED homes that are UNDER $180,000.  I've got one in Santa Clara that has 4
bedrooms and a great view for $199,000. 
Find them all listed here: FEATURED LISTINGS



or for ALL Sun River St George homes for sale click here:


SUN RIVER HOMES FOR SALE


for ALL MLS listed Santa Clara Utah homes for sale visit this link:


SANTA CLARA UTAH HOMES FOR SALE
 ]]> </description>
            <pubDate>Tue, 15 Nov 2011 12:46:08 -0600</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/st-george-utah-real-estate-market-absorption-and-statistics.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/st-george-utah-real-estate-market-absorption-and-statistics.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>St George Utah Real Estate Market Absorption and Statistics</title>
            <description> <![CDATA[ 
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 pending and only 239 homes are new listings.   The widening of this gap is crucial for true stability and recovery.


Noting the same period last year (May 2010) there was a total of 1385 active, of which 216 new listings, 145 sold listings, and 115 went pending, notice here the gap being smaller.


For the St George Real Estate Market Percentage Seekers: 


2011:  A total of 1206 active and 329 homes sold/went pending= 27% homes sold (closed or got an offer)


2010:  A total of 1385 active and 260 home sold/went pending= 18% homes sold (closed or got an offer)


Again, a nice illustration of a market trending in an upward pattern.  Here's where things get ugly, specifically for sellers:


May 2009  MEDIAN SALE price:  $208,000


May 2010 MEDIAN SALE price:  $169,000


May 2011 MEDIAN SALE price:  $150,000


I've been noting an average yearly decline of about 12-15% per year, the numbers above follow a similar pattern.


What's the prediction for the St George Real Estate Market?


Ahhhh, my favorite question.  If only I knew for sure.  So here is my conclusion and opinion:  I can see that we are really burning through our inventory at a fast pace.  While home prices continue to decline, the "pick of the litter" homes are few and far between.  It's difficult to find what most buyers want:  a larger home, newer, $250,000 or less, and not in need of major repair.  When these types of homes come on the market at a great price--there are multiple offers sometimes within HOURS.  So buyers are forced to pick though the inventory that's left, and the only way buyers are willing to offer, is when the home comes with a nice price tag (unfortunately adding to the decline of prices).  So long as we continue to burn though this inventory, supply and demand will kick in following historical trends of elevated prices.  What could be lurking in the shadows however, may be a surplus of "shadow inventory" the banks have not yet released on the market (or have not yet foreclosed on).   I stand by what I've been saying for months:  so long as you plan to buy and STAY for a few years, you'll probably make out just fine.  If you think you may buy then sell in the short term, you may in fact end up selling "short". 


Should I sell my St George Home Now, or Wait for Market Improvement?


I do NOT believe that sellers should cling to the above opinion and hold off selling in hopes of achieving a higher price.  We are STILL in a downward trend, and will likely continue through the year mimicking patterns of the prior 3 years (12% per year for 3 years is a 36% decline).  So while stabilization is potentially on the horizon, I believe we will experience that stability for a few months before a GRADUAL upward trends begin.  So essentially, it could take another 12-18 months just to get back to where we are TODAY.  If you're not happy with the price your home will get today, then my opinion is you'd better plan to stay for quite some time.  If you need to move (and sell) within the next 12 months, then I suggest taking the hit now.  Hire an agent who will sell your home, not just list it.  That's another topic! 


If you are a home seller or buyer, I'd love to hear your questions or opinions!  Comment below and tell me what you see.  View all homes for sale in St George and Washington County:  St George Utah Real Estate
 ]]> </description>
            <pubDate>Sun, 05 Jun 2011 10:43:35 -0500</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/the-down-payment-saves-money.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/the-down-payment-saves-money.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>The Down Payment Saves Money</title>
            <description> <![CDATA[ 
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 smaller mortgage.  As the buyer pays month after month, year after year, on that mortgage, the $20,000 down payment translates to a lot more money because it means less money in interest is being paid out on that mortgage. Interest does you, the home buyer, very little good.  Interest paid is just money out of your pocket with no return.


Down Payment Required for St George Home Purchase


That example doesn't apply to many traditional conventional loans which require a 20 percent down payment. Taking that into account, your $200,000 home with this larger down payment of $40,000 would mean a $160,000 mortgage.  At a 5 percent interest rate on a 15 year mortgage, that translates to about a $7,000 savings in interest alone.  Consider you'll also be paying about $100 less on a monthly payment basis, and your big down payment will soon pay for itself.  In other words, the bigger the down payment, the better off the home buyer will be years down the road.


Usually home buyers who already own a home have equity in the current home to use as a down payment for a new home. So, these second time home buyers utilize conventional loan products tailored to owners with equity.  Some of these loans may only require a 5 to 10 percent down payment.  However, as you can see, it is to the home buyer's best interest to bump that up whenever possible.


St George Utah First Time Buyer


Of course, many St. George Utah first time home buyers are young people who may not have had the time to save up such a large down payment.  For these home buyers, there are loan products available that are more conducive to a smaller down payment.  These unconventional loan products include well known names such as the FHA or VA loans.  Many of these loans have down payments as low as 3.5 percent.


There are also community and state programs that make it their business to sell the idea of home ownership as a way to add value to the region.  These loan programs make it easier for a first time home buyer to come up with a down payment.  Improving the value of property throughout the community is the strategy behind these unconventional loan programs.  However, even these programs better serve the home buyer who has a larger pot of their own money to put down.


St George Utah Buyers Agent


Step one in a home search should always be to talk to a loan officer about all your options regarding a required down payment, then choose the program that is best for you.  Your ultimate goal is to save the most money when the mortgage comes to a close.  Work out the figures and you'll agree the bigger the down payment you can afford, the more you'll have in your pocket when you burn those mortgage papers.  Your next step will be to work with a trusted buyers agent who can assist you with evaluating properties and offer objective opinions suited to your specific criteria.  Paula Smith is a St George Utah Buyers Agent, contact me today to begin your St George real estate search!  You can find all St George MLS listed property on my website:  St George Utah Real Estate
 ]]> </description>
            <pubDate>Sun, 15 May 2011 08:18:07 -0500</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/top-10-foreclosure-cities-and-st-george-in-comparasion.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/top-10-foreclosure-cities-and-st-george-in-comparasion.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Top 10 Foreclosure Cities and St George in Comparasion</title>
            <description> <![CDATA[ 
St George Foreclosures and the status of the St George
housing market is my number one topic with most buyers and sellers.  With the looming housing market, there are
foreclosures popping up everywhere. Some markets have a wider range of
foreclosed homes than others, but just about everywhere is feeling the blow.
Let’s take a look at the top 10 cities for foreclosure investors based on the
poll done by CNBC in 2010, listed in order by median price:


Pittsburgh, Pa.
Foreclosure as a % of resales 10%, Non-foreclosure median
price $123,000, Foreclosure median price $35,000


Cincinnati, Ohio
Foreclosure as a % of resales 15%, Non-foreclosure median
price $141,000, Foreclosure median price $65,000 


Columbus, Ohio
Foreclosure as a % of resales 19%, Non-foreclosure median
price $158,000, Foreclosure median price $71,000


Kansas City, Mo.
Foreclosure as a % of resales 29%, Non-foreclosure Median
Price $142,048, Foreclosure Median Price $97,152


Phoenix, Ariz.
Foreclosure as a % of resales 58%, Non-foreclosure median
price $168,000, Foreclosure median price $100,000 


Minneapolis-St Paul, Minn.
Foreclosure as a % of resales 26%, Non-foreclosure median
price $210,000, Foreclosure median price $114,300 


Denver, Colo.
Foreclosure as a % of resales 25%, Non-foreclosure median
price $225,000, Foreclosure median price $135,000 



Riverside, Calif.
Foreclosure as a % of resales 66%, Non-foreclosure median
price $205,000, Foreclosure median price $140,000 


San Francisco, Calif.
Foreclosure as a % of resales 39%, Non-foreclosure median
price $530,000, Foreclosure median price $230,000 



Los Angeles, Calif.
Foreclosure as a % of resales 39%, Non-foreclosure median
price $435,000, Foreclosure median price $232,000 


One of the interesting things about this list is the fact
that California represents almost a third of the foreclosure market in the
United States while Ohio takes a fifth of the market. Now, these results are
based on the discount at the time of sale. It is also striking to note that of
the top ten cities, the one with the biggest percentage of resale was not the
city with the largest percent discount, but instead the markets which were
usually known for their outrageous house prices.


How Does St. George Utah Compare in Foreclosures?


The St George Utah foreclosure market does not make the top
10 list, but let's take a look at the current conditions as compared
above.  Keep in mind, that the above
numbers are representative from a poll in 2010 and the St George real estate
market comparison I'm doing will represent the first quarter of 2011.




Total number of single family homes sold for Greater St
George for January 2011 to March 31, 2011= 433


Foreclosures as a % of resales= 26% 


Short Sales as a % of resales= 17% 


(above combined) Total number of distressed sold as a % of
resales=  43% of all homes sold were of
distressed status for the first quarter of 2011




If you would like to find all MLS listed St George foreclosures, visit my Foreclosure page.  Also, visit my Short Sales page to find all MLS listed St George Short Sales.


Paula Smith, REALTOR RE/MAX First of St George


Contact Paula Smith of Re/Max First Realty in St George Utah if you would like Buyer Representation or a Seller consultation for listing your St George or Hurricane home.
 ]]> </description>
            <pubDate>Tue, 05 Apr 2011 21:20:22 -0500</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/understanding-what-closing-costs-mean-to-the-home-buyer.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/understanding-what-closing-costs-mean-to-the-home-buyer.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Understanding What Closing Costs Mean To The Home Buyer</title>
            <description> <![CDATA[ 
Anyone considering buying a home in St George will need to
understand closing costs.  Closing costs
are often overlooked, it is important that the buyer understand all of the
costs involved in purchasing a home in St George or Hurricane areas.  These costs go beyond the purchase
price.  Inspections, lender fees,
appraisals, surveys, and other due diligence requirements.... the terminology
used in real estate can be extremely confusing for first time home buyers and
to those who may not have purchased in many years.  What's more, realizing who pays for these
things can be even harder to figure out.


What Are Closing Costs?


Real estate agents, title company officers, and mortgage
providers deal with real estate transactions on a daily basis, so they
understand this language.  When it comes
to what is known as the 'closing costs' it becomes even harder to understand
for the average home buyer.  Because closing
costs can be, and often are, negotiated between buyer and seller, there are no
clear-cut answers, and different states often have different guidelines.  Let's start by taking a look at the closing
costs that can appear in your closing document:




Upfront, prepaid, interest points


Appraisal costs


Title transfer costs


Realtor fees 


Loan origination fees


Property taxes


Homeowner’s insurance


HOA transfer fees/dues




The above examples of closing costs are simply the
extenuating costs of purchasing a home. 
But, they can't just appear out of nowhere when it comes time to write
the check.  That's where the 'HUD' comes
in.


What Is a HUD Statement?


All closing costs must be disclosed on a form called the
HUD-1 Settlement Statement, which offers a breakdown (line by line) of each
cost.  The HUD-1 must be signed by all
parties in the transaction before it is legally considered complete.  The loan officer for the buyer and the buyer’s
agent will review the HUD-1 with the buyer so that there are no surprises when
it comes to signing it at the closing table.


Included in the HUD-1 Settlement Statement are also any
credits due to the buyer, such as the down payment amount, tax credit from the
seller (for the time the buyer did NOT occupy the property), buyer closing
costs that the seller has negotiated to pay, as well as any money held in
escrow on behalf of the buyer, such as the earnest money deposit. 


This is a long, long list of money in and money out.  Many of the terms may be confusing to you,
the buyer.  Your agent should explain, in
detail, each and every item and provide supporting documentation to help you
understand.  A good realtor and loan
officer will provide a true copy of the estimated HUD-1 prior to your
closing.  You may even want to obtain a
blank HUD-1 form to read through just so you are prepared to ask questions
before the figures get filled in.


What Is A Due Diligence Period? 


In St George, home buyers are given a “Due Diligence” period
for which they are allowed to perform any test to the property in which they
have an accepted offer.  These tests will
usually start with a Home Inspection (done by a professional home
inspector).  The inspector may recommend
further testing by other professionals should they discover an issue (such as a
leak in the roof).  Larger parcels of
land may require a survey to determine the exact property line.  All due diligence tests paid for by the
buyer.  Should a problem be discovered,
the agent may then step in to renegotiate the deal asking for credits or repairs.  Of course, the seller is NOT obligated to
correct anything; however, the buyer is not obligated to purchase the home
either.   This protection period was
created for Utah home buyers through a pre-determined period, allowing them to
research the property to their satisfaction with the ability to cancel the
contract with no risk of losing their earnest money. 


Closing costs are often said by home buyers to be the most
confusing part of the entire home buying process; even more confusing than
inspections, offers, and contracts. 
These costs deserve individual attention from both you and your buyer's
agent.  Be sure to insist on being fully
informed as to the detail of each cost. 
After all, you are footing the bill for this large investment of a home
and you deserve to know everything that involves your money.


Paula Smith Re/Max First St George, Buyers Agent Specialist


If you are considering purchasing a new home in St George or
surrounding area and you are not yet committed to a Buyer’s Agent Specialist,
consider contacting Paula Smith.  Paula
Smith of Re/Max First in St George is a Buyer’s Agent Specialist.  Find all MLS listed property at www.StGeorgeUTproperty.com and
allow Paula Smith to negotiate the best possible deal on your behalf.
 ]]> </description>
            <pubDate>Wed, 30 Mar 2011 23:10:18 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.stgeorgeutproperty.com/blog/discover-the-benefits-of-working-with-a-buyers-agent.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/discover-the-benefits-of-working-with-a-buyers-agent.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Discover The Benefits of Working with a Buyer’s Agent</title>
            <description> <![CDATA[ 
For most home buyers in St George Utah, the purchase of a
home is the single most expensive and complicated transaction a person will
ever experience.  In addition, people
typically only have the experience one, two, or three times during a lifetime
so they never become accustomed to the process. 
The requirements for a real estate transaction constantly change over
the years, because of this, there are many benefits of working with a qualified buyer’s
agent who can successfully guide, advise, and navigate the path to home
ownership. 


A Buyers Agent Deals With Multiple Transactions Every Month


A buyer’s agent utilizes their knowledge of the real estate
market to help their client acquire their home. 
By using years of first-hand experience in the home buying trenches, the
buyer’s agent offers advice on fair market value, how to best negotiate all the
terms, and how to complete all of the necessary documentation.  This experience is extremely valuable given
all the possible variables in real estate and for a typical home buyer; this is
experience that is impossible to gain in just a couple personal transactions.


Problems Arise During a Transaction, Will You Know How To Solve The Problem?


There are literally hundreds if not thousands of possible situations
or pitfalls within a real estate transaction which must be navigated.  An experienced buyer's agent will be able to
walk you through episodes that just might include the following:




The seller did not make the agreed upon repairs.


The seller is out of town and cannot be reached
and there is a seller required repair the lender is requesting.


There is a heavy rain and there is water in the
basement the day before closing.


The buyer makes a large purchase prior to
closing and no longer qualifies for the mortgage.


There are multiple out-of-town owners on the
deed and they must all sign closing paperwork.


The home is offered as a short sale and it takes
several months to be approved.


The home is a foreclosure and the bank is
difficult to reach.


Termites are found.


The seller’s agent is not communicating well,
causing information to lapse or not be conveyed to the seller.


The buyer moves in and discovers damage that was
not disclosed.


They buyer’s funding is delayed so the closing
and possession dates must be adjusted.




This of course is only a short list of examples where issues
can arise.  The role of the buyer’s agent
is to manage the transaction, providing solutions to each of the problems and
minimizing stress for the buyer by keeping their client informed. The benefit
of working with a buyer’s agent is to have a professional facilitate the
purchase of one’s largest asset.   Most
importantly, the buyer’s agent is offering representation to the buyer,
similarly to the way the listing agent is representing the seller.  


There Are Many People Involved Within A Transaction, Are You Connected?


During a real estate transaction, there are many different
service providers that a buyer must contend with such as:  the mortgage company, the seller’s agent, one
or more title companies, the appraiser, the inspection companies, and various
repairmen.  If any one of these providers
drops the ball, the closing may be delayed or even canceled.  A good buyer’s agent will have systems in
place to manage and track the progress of each of step of the purchase, all the
while keeping their client, you, informed.


Interview several buyers’ agents and choose the one who
gives you a concise, well-laid out plan from start to finish.  A good buyer's agent will have your best
interests at heart to make your home buying experience a success.


Paula Smith Is Your St George Utah Buyers Agent


ReMax First Paula Smith is a St George Utah Buyers Agent; I represent
buyers throughout Washington County.   My goal is to achieve the best possible price
with the least amount of stress to the Client.  Allow Paula Smith to represent you as your
Buyers Agent Specialist.  If you would
like to see all MLS listed property, visit my St George MLS page.  Also, you can sign up to receive Property
Alerts which will send you an email with all homes matching your criteria.  Contact Paula Smith if you are interested in
receiving these reports. 
 ]]> </description>
            <pubDate>Thu, 24 Mar 2011 22:39:08 -0500</pubDate>
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        <item>
            <guid>http://www.stgeorgeutproperty.com/blog/hiring-a-real-estate-agent-avoid-common-pitfalls-with-a-proper-interview.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/hiring-a-real-estate-agent-avoid-common-pitfalls-with-a-proper-interview.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Hiring A Real Estate Agent – Avoid Common Pitfalls With A Proper Interview</title>
            <description> <![CDATA[ 
The number of sold homes in St George is on the rise, and more homeowners are considering selling their home.  Hiring a real estate agent to help you sell your home is a smart decision, but there are many pitfalls to avoid in order to ensure you are hiring the best qualified professional for you.  By understanding what an agent does for their client, why they do it, and what their systems are, it is possible to not only successfully sell your home, but have a pleasant experience as well.


In essence, real estate agents work for themselves, developing their own way of marketing and selling homes, so every real estate agent is different.  These differences may be slight, or they may vary greatly, but the only way to discover what services each one provides is to interview the agent.  Interview at least three real estate agents at your home, well before you must put the home on the market if possible.  The interviews should focus on several aspects that you may not be aware of yet.  Let's take a look at what a proper real estate agent interview should involve:


The Interview


It is important to understand that the interview process is not to find out which agent claims to be able to get the most money for your home.  In fact, pricing should not even be discussed at the initial interview.  The object of the interview is to discover what services each agent provides, learn what type of marketing plan they have in place, how that marketing plan applies to your situation, and what systems are in place to manage the paperwork generated by a pending contract.


However, as important as these details are, it is just as important to learn whether or not you are comfortable communicating with the agent.  Many sellers make the mistake of simply hiring an agent who promises to sell the house for the most money, even when they do not feel comfortable with the agent, sometimes sellers will state they don't even "like" the agent.  A real estate transaction can be extremely strenuous and emotional; that is why open, clear, comfortable lines of communication are critical to a successful sale.


Questions to ask each agent should be written out and utilized during each interview.  Asking the same questions of each agent will provide you with a standard way to compare them after the interview process is completed.  Below are some of the most critical questions to ask a potential real estate agent:




How many active clients do you generally assist at any given time?


What is your marketing plan?


Describe how my home will be presented on the internet as over 80% of buyers seek homes there.


How do you manage a contract?  With all of the paperwork, the numerous service providers involved, and the buyer’s side of the transaction, it must be difficult.  How do you keep everything straight?


Are you a full time real estate agent?


Do you have any vacations planned?  If yes, how will you manage my business during your absence?  How will you be able to handle an offer or showing?




Be sure to take plenty of notes during the interviews. Once the interviews are over, go over your notes thoroughly.  It is a good idea to schedule a second interview with the realtor you've chosen, this time requesting that the agent provide you with statistical information and recommended pricing on your home.  You may even want to have each agent provide this information in a second interview as well, just to be sure of your final decision.  Although this adds to your time-line, it is critical to make the best possible choice in an agent in order to avoid the all-too-familiar pitfalls.


If you are considering the sale of your home in St George or Hurricane (or the surrounding areas) contact Paula Smith  Re/Max First in St. George, listing specialist.  Place your home on the front page of my website which attracts more than 4500 visitors each month.  I provide sellers with results, backed by Re/Max, the most recognized name in the industry.  Visit my Sellers Page to learn more about Selling your St George home.
 ]]> </description>
            <pubDate>Fri, 18 Mar 2011 21:40:55 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.stgeorgeutproperty.com/blog/common-mistakes-made-by-a-for-sale-by-owner.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/common-mistakes-made-by-a-for-sale-by-owner.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Common Mistakes Made By a For-Sale-By-Owner</title>
            <description> <![CDATA[ 
St George For Sale By Owner, also known as “FSBO”.  Selling a home may seem like a simple task,
one that only entails a 'for sale' sign, a few flyers, and possibly posting the
home on Craigslist (not recommended)  or
other mainstream venues, but there is much more involved than meets the
eye.  Real estate agents help countless
people buy and sell homes, attend many hours of education, and develop systems,
all in an effort to guarantee successful, smooth, real estate
transactions.  Homeowners who decide to
sell on their own usually make many mistakes, some of which they are unaware
of, that can come back to haunt them. Let's take a look at the most common
mistakes made by the homeowner during a for-sale-by-owner listing:


1.  Emotional Pricing
- One of the most critical mistakes often made during a for-sale-by-owner
listing is that the home is priced out of alignment with the market value.  Homeowners tend to view their property with
emotional attachment, resulting in an escalated price because they include
their personal experiences in the home as part of the value.   - For example, a homeowner may personally
paint a child’s bedroom with a fun mural, full of bright colors.  The homeowner believes the mural has value
because it special to the child, but in reality, the mural is not only a
hindrance to attracting a buyer, it devalues the home in the buyer’s mind
because all the buyer sees is the fact that they need to paint the room. Your
decorative touches, no matter how much you love them or how much you paid for
them, do not add value to the home.


2.  Improper Staging -
Buyers are very demanding when looking at homes they are interested in,
especially in the current market.  They
have a lot of homes to choose from, and the slightest problem with a home can
cause them to move on to the next place of interest.  In St George for sale by owners often make
the mistake of believing what appeals to them will also appeal to all buyers, such
as the mural story above.  Simple things
such as paint, flooring condition, cleanliness, well-lighted rooms, uncluttered
walls, all play a part in impressing buyers. 
It is a good idea to actually hire a home staging expert to provide
advice on how to best show the home.  A
staging professional will advise you about what changes can be made to not only
attract, but keep buyers interested enough to make an offer on your home.


3.  Old Fashioned
Marketing - Over 80% of people who are looking to purchase a home, surf the
internet to find the right property. 
Homeowners may not know how to properly market their home on the
internet.  Not only does a seller need to
know all possible internet marketing avenues, but also must possess a very good
understanding of the ins-and-outs of using all the search tools available.   If this
sounds like a tall order, it is.  There
are hundreds if not thousands of for-sale-by-owner sites, as well as the
popular auction sites, that are vying for the home seller's listing.  How do you know which is best?  Where do you even begin to look?  Which sites are more “spam” and do not even
attract actual buyers?  Without a strong
background is real estate and marketing, along with a firm grasp on internet
posting, your home may be lost in the shuffle and never be seen.  With an uninformed eye on the internet, the
for-sale-by-owner could be missing thousands of potential buyers.


4.  Improper Paperwork
- One of the most frustrating, and costly, mistakes made during a
for-sale-by-owner transaction is the lack of experience in managing the
paperwork and communication that is necessary once an offer is received and
accepted.  Considering only the pages of
the contract, there are dozens of documents to understand with numerous
disclosures that must meet precise dates for signing and filing.  Aside from simply signing and accepting an
offer, there are inspections to be scheduled, appraisers to meet, and
unacceptable conditions that must be negotiated.  If anything is missed, it could cause the
contract to fall through, meaning that the home must go back on the market.  Paperwork errors can also result in future
legal concerns.  Most homeowners are not
expected to know all these details; this is what real estate schooling and
training is meant for.


Although it is possible in St George Utah, for a homeowner
to sell their own home, it is extremely tedious and time consuming.  Homeowners are involved with only one, or
maybe two or three, real estate transactions in their life, whereas a real
estate a professional is involved with hundreds or thousands.  Leaving such a large investment to the professionals
is often in a homeowner's best interest. 
It is also a common misconception by homeowners that they will “make
more money” if they do not use an agent. 
This is simply not true, and most every buyer will realize there is no
agent involved either and they will want that “savings” applied as their “discount”.  It's a fact that homes that are listed sell for more than those that are not.  Many buyers are already represented by an
agent.  A buyer should always be counseled
by an agent to make certain they understand the market conditions and actual
value prior to making an offer.


If you are considering Selling your home, visit my St George Sellers page.  If you would like to find all MLS listed property in St George, view my Search Property tab at the Home Page.
 ]]> </description>
            <pubDate>Tue, 15 Mar 2011 10:20:22 -0500</pubDate>
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