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        <title>St George Utah Real Estate Blog</title>
        <link>http://www.stgeorgeutproperty.com/blog/st-george-sales-statistics/</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>
        <item>
            <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-year-end-real-estate-market-report-2011.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/st-george-year-end-real-estate-market-report-2011.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>St George Year End Real Estate Market Report 2011</title>
            <description> <![CDATA[ 
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 dropped 11.5%.  So, our sales are still up and our prices are
still on the decline--however it IS getting better.  It's also interesting to note the Number of
New Listings in 2009 to 2010 was almost the same (with a difference of only 8 homes) and comparing 2010 to 2011 we
are down 11.1% (a difference of almost
500 homes).  This is good, we are
still selling homes and our inventory is reducing, a formula necessary for
stabilization.





Foreclosure Market Statistics in St George


The St. George Utah foreclosure market will continue to be a hot topic
through the rest of 2012.  It's sort of
the steering of our proverbial market ship. 
So let's get into the facts: 
According to Jared Plewe of Title Guarantee (a local title company here
in St George) foreclosures are on the downward trend for 2011 noting  there were 997 LESS notice of defaults (NOD) filed in 2011 than 2010 (notice of defaults are step one in the
foreclosure process).  There were a
total of 1165 Foreclosures in 2011
as compared to 1515 in 2010
(interestingly there were 51 in 2006). 
This is for ALL of Washington County for ALL property types.  As of today (1-23-12) the MLS is showing 62
ACTIVE REO (foreclosure) homes, 57 PENDING, and 752 SOLD in 2011.  So by my calculations this leaves about 25%
of the foreclosed homes unaccounted for (banks holding inventory?)--there is a
margin of error on these calculations (some of the sold homes will have been foreclosed
from 2010 inventory).  I did speak to a
local bank who has been holding some foreclosed LAND.  So many parcels were subdivided during the
"boom" but by the time they came out of the process and were ready to
be sold--St. George hit "bust". 
Land lots hit the inventory by the hundreds at a time when only a handful
were selling.  


On a brighter side, it
does appear building is making a comeback and developers are on the prowl for
some of these lots.  They've been able to
scoop up large parcels for a fraction of the price.  Several builders are doing very well and
selling out build jobs on entire subdivisions. 
This is wonderful for the economy as it is putting people back to work
and buyers are enjoying the customization ability for new construction.  St George Residential building permits were at:
 368
pulled in 2011 as compared to: 284
pulled in 2010; 234 pulled in 2009,
261 pulled in 2008 and 867 pulled at the end of the boom in 2007 (an astonishing 2,048 pulled in 2004 which was our peek over the past
decade).  Still, the resale market
will offer more bang for the buck.  It's
just getting more a more difficult to find the coveted "turnkey" home
at an excellent price (without fierce competition).  Builders are becoming competitive with their
pricing, however they have scaled back on quality and have gone 2000 on us,
with "back to basics" on finishing work (laminate, linoleum etc...).  Hey we won't complain, laminate has come a
long way!  Besides, you can still select
granite and stainless steel--you'll just pay a premium for it.


SunRiver St George Market Conditions


Sun River is a premier adult community in St George.  We have inquires by the thousands from buyers
who are considering relocation to Sun River. 
Although this is only a subdivision within St George, we treat it at a
sort of "mini city" as the area has very different market conditions
and cannot be compared with St George proper. 
Prices and comparables are in their own league, and can really on be
compared to other homes in SunRiver.  So let's
take a look at what's going on:  as of
TODAY there are 57 ACTIVE homes (which has been fairly consistent over the past
several months) 3 of these are Short Sales and 1 is a foreclosure (which means
a total of 4 homes are of distressed status). 
This number is higher than years past, as typically there is only ever 1
or 2 homes of distressed status.  This
number is still considered EXCELLENT when compared to neighboring St. George,
or the rest of the nation for that matter. 
10 homes are pending.  107 homes
were sold in SunRiver for 2011 as compared to 87 in 2010. I've got a couple of fabulous
SunRiver homes for sale, be sure to check out my Sun River St George Real
Estate page to find ALL MLS listed Sun River homes.


Crystal Ball Predictions, by Paula Smith RE/MAX First


Thank you for reading my blog, you're either a trooper for
going over all of the above information or you just skipped it to read my
predictions--either way--I'm humbled by the fact that anyone takes the time to
read my report and I appreciate all of my readers and clients.  


I believe 2012 will play out very similar to 2011.  I think our inventory will continue to decline,
and our Foreclosure activity will also stabilize.  As we make our way through the inventory, the
laws of supply and demand will surly kick in, which could make for an
interesting possibility for a spike (appreciation).  We have had a couple of these spikes on
select homes and neighborhoods already, so it's not totally out of the question
for this to continue.  We DO have buyers,
and the competition among them can be insane. 
The most sought after price range continues to be the $200,000 to
$250,000 range, however take a look at the stability among most price ranges as
depicted below (sold Residential Greater St George)





If you have a home in GOOD condition (free from needed
repair) priced well, clean, offering neutral tones, and a marketing expert to
list it (If you need a reference, consider the author of this post) then you've
got a recipe to get your home sold quick. 
On a couple of my listings in 2011 we were able to achieve multiple
offers resulting in:  at or ABOVE asking
price.  For sellers who dare to test the
market with higher prices, I'm sorry to say you will not achieve the results
you desire.  The days of "let them
make us an offer" are out and buyers seem to gravitate to the more
thrilling aspect of a lower price and jumping on the bidding wagon.  


Thank you again to all of my clients who have helped me to
elevate my career.  Without you placing
your trust in me, I would not have the business I've built.  Each client is a pillar to my foundation and
it will always be my intention to never lose sight of that.  


It should also go without saying that I do not actually own
a crystal ball, and my predictions are just that...predictions.  This blog is my opinion about the market
based on facts, knowledge, and good ol' history (and a wee bit of
speculation).  Cheers to an even better
2012!  Contact Paula Smith of RE/MAX
First if you are considering buying or selling. 
View all MLS listed homes on my website:  http://www.stgeorgeutproperty.com/idx
 ]]> </description>
            <pubDate>Mon, 23 Jan 2012 15:07:54 -0600</pubDate>
                    </item>
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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>
                    </item>
        <item>
            <guid>http://www.stgeorgeutproperty.com/blog/st-george-foreclosure-statistics-september-2011.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/st-george-foreclosure-statistics-september-2011.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>St George Foreclosure Statistics September 2011</title>
            <description> <![CDATA[ 
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 year of 2009.


Foreclosures:  Again,
up a bit as compared to last month but down considerably from the beginning of
this year and about half the amount from out peak.  Take a look at this awesome graph provided by
Equity Title in St. George (keep in mind, this is for the entire Washington County, not exclusive to St. George):





Are Homes Selling in St. George?


Yes they are!  It’s
getting difficult out there.   Our
inventory is shrinking and there are plenty of buyers out there searching for a
deal.  This is not so great for buyers,
having limited homes to choose from and often ending up in a bidding war for
the pristine, well priced home that is coveted by all buyers.  Supply and demand people…economics 101.  Inventory goes down, prices will go up.  As of today (September 10, 2011) we have 1188
homes listed in the greater St. George area (compare that to 1,601 active as of
May 2010).  Of the 1188 homes listed, 255
are of Short Sale Status and 51 are Foreclosures.  This means that 25% of our inventory is of
distressed status (compare that to 39%
in May 2010 and 30% in February 2011)
notice a trend there??


What SOLD in St. George Utah?


Since August 1, 2011 (about 40 days) we’ve sold 221 homes.  Of that number, 35 were short sales and 38
were foreclosures.  This means that 33%
of sold homes were of distressed status. 
Just for fun…I’m backtracking on my old blog from May 2010 again, and
noted that 39% of sold homes were of distressed status.  


So, let’s review the facts…The inventory is shrinking (about
10% lower over last year), the number of distressed property is reducing, the
number of sales remain the same, in fact YTD its actually about 3.8% higher
over last year.  What are also down are
prices.  We are still in a very mild
decline and YTD the average sold price is approximately 5% lower as compared to
last year (Greater St. George, residential). 
Building is up, another tool required for stabilization and a healing
job market.  While we certainly cannot
predict what will occur next, the pieces are in place to allow for
stabilization.  Investors are on the
prowl, snatching up rental property which will finally allow a break even with
a minimum down and expected rents.  If
they hold on to it long enough to allow prices to go back up, there is a much
better chance of banking profits…the low interest rates are great for the
mortgage but you sure won’t make anything with a traditional CD or savings.


Are you ready to buy or sell in St George?


I'd like to help.  Contact Paula Smith RE/MAX First in St. George Utah.  Not ready to talk yet?  Check out the inventory for all MLS listed homes in St. George.
 ]]> </description>
            <pubDate>Sun, 11 Sep 2011 09:40:37 -0500</pubDate>
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            <guid>http://www.stgeorgeutproperty.com/blog/st-george-utah-real-estate-market-report-for-july-2011.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/st-george-utah-real-estate-market-report-for-july-2011.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>St George Utah real estate market report for July 2011</title>
            <description> <![CDATA[ 
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 how our Foreclosures are continuing to play an intricate
role in our housing market decline. 
Until the foreclosure activity subsides we will continue in our market
decline.  While the decline is NOT major,
it has been averaging approximately 11% each year over the past 2-3 years (this
is looking at Greater St George as a whole, not specific areas or home types).


2009 Median Sale Price= $186,000
2010 Median Sale Price= $177,000
2011 Median Sale Price (YTD)=  $167,000


 


Sellers are forced to compete with banks (REO’s) and banks are forced
to reduce their prices for a quick sale to remove the loss from their books.  This vicious circle drives prices lower.    On
the bright side…we are making our way through the inventory at a fairly rapid
pace.  Buyers have less to choose from
and the “turnkey” homes that are priced well are getting snatched up in a
matter of days.  Interest rates are still
low.  So, if you are considering holding
out on the market in an attempt to buy at the very bottom—I think we are
close.  My opinion is that the bigger
risk to the “fence sitters” is that rates can go up at any time, and the
inventory seems to be getting to the bottom of the barrel so these picked over
remaining homes require more work.  Banks
are also becoming more stringent on lending with even more regulations on the
horizon.  What a buyer saves on “price”
they will likely make up in “repairs”.  As
I've been saying for the past 2 years, so long as you intend to buy and STAY
for the next 5-7 years, you’ll probably be fine.  History has showed that once we hit bottom,
we have always rebound. 


Sun River Sold Homes


In Sun River St. George, our exclusive adult community, there are currently 62 homes ACTIVE, ONE is a short sale and ONE is a foreclosure.  11 homes sold in the past 45 days.
 ]]> </description>
            <pubDate>Sun, 17 Jul 2011 08:20:06 -0500</pubDate>
                    </item>
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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/st-george-real-estate-market-conditions-recap.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/st-george-real-estate-market-conditions-recap.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>St George Real Estate Market Conditions Recap</title>
            <description> <![CDATA[ 
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 the foreclosure proceedings.  Not all NOD’s will become actual foreclosures,
however many will.  It’s also interesting
to note that we are also down in comparison with the past TWO years!  This could be a sign of stabilization.  Actual foreclosures for the first three
months is comparable in numbers to last year, here are the total actual numbers
in Washington County:  





Let’s take a look at homes that have sold in the Greater St
George area as well as the SunRiver market conditions.  March 1, 2011 to April 28, 2011 (Greater St.
George, single family homes) there were a total of 298 sold as compared to 346
for the same period in 2010.  Of the 298
sold home, 127 were of distressed status (short sale or foreclosure) which
means 42% of homes sold were distressed property as compared to 46% for the
same period in 2010.  SunRiver had a
total of 15 homes sold during this period compared with 19 sold same period
last year.  Of the 15 homes sold only ONE
was of distressed status.  This is
typical for Sunriver, having few if any, distressed sales.  By the way, I’ve got a new Sunriver listing
(shameless plug) please check it out here: http://www.stgeorgeutproperty.com/listing/cms/15/



Currently, there are 1654 homes ACTIVE in Greater St. George
and 254 have gone under contract (pending) since March 1st.   Below are a few graphs that will break down
the statistics by price range for those of you specific number chasers.   My opinion is that the market seems to be
improving a bit.  It will take a few
months of monitoring to determine if this is just a mild “peak” before an
impending “low” or if in fact we are on the road to recovery.  If the home is priced well, and in decent condition,
we are getting multiple offers in a matter of days—sometimes HOURS.  


If you are a buyer who likes to “think before
you act” then you will find yourself thinking about an awful lot of homes!  You must act quickly if you find a home you
like.  If you are not already working
with a buyer’s agent, consider doing so. 
You will realize that as a buyer, you are protected with our Purchase
Contract and you will have plenty of time to be sure the home you acted so
quickly on, is (or is not) the perfect home. 
Contact Paula Smith if you are interested in Buyer representation.  If you have a home you’d like me to list and
include in one of my shameless plugs—give me a call!



 ]]> </description>
            <pubDate>Thu, 28 Apr 2011 10:45:00 -0500</pubDate>
                    </item>
        <item>
            <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>
                    </item>
        <item>
            <guid>http://www.stgeorgeutproperty.com/blog/february-2011-st-george-utah-real-estate-statistics.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/february-2011-st-george-utah-real-estate-statistics.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>February 2011 St George Utah Real Estate Statistics</title>
            <description> <![CDATA[ 
This report will illustrate the current market conditions for the Greater St. George Utah housing market for residential sales and activity.  I will also include Sunriver St George housing market statistics as well as foreclosures and distressed property in general and the effect on both the luxury market as well as the Active Adult (55+) community.


Currently, there are 1572 active homes for sale in the Greater St George area.  Of these homes, 477 homes ARE of distressed status.  This equates to 30% of the inventory in St. George Utah IS of distressed status.  This number is an improvement over months past.  Since January 1st 2011 there have been 356 homes sold and of those sold homes 171 WERE of distressed status which is 48% of the sold homes WERE of distressed status.


Luxury Homes Market Conditions


Here is some information more specific to the higher end homes, this will include any residential home listed or sold over $500,000.  There are currently 211 homes listed over $500,000 and of these homes, there are 13 homes that are of distressed status.  There are 12 pending homes and of the 12, half (6) ARE of distressed status.  From December 1, 2010 through February 26, 2011 there have been 22 Luxury homes sold, and of those 22 there were 7 that were of distressed status.  Visit my St. George Luxury Homes page to find Luxury homes available in the Greater St. George area.


SunRiver St George Sold Homes and Foreclosure Activity


Currently there are 71 homes listed for sale in SunRiver St George, which is an adult (55+) community.  Of these 71 homes, only 1 is of distressed status.  This foreclosure activity for Sun River (of lack of) is typical, this subdivision experiences very minimal foreclosure or short sale (distressed) property which also helps the community to maintain higher price values.  The reason is because most homeowners have put a significant down payment or paid cash for their home.  Another popular choice for many SunRiver home buyers is a reverse mortgage purchase. Since December 1, 2010 there have been 14 homes sold and again, only 1 was of distressed status.  There are currently 8 homes pending in SunRiver.  Visit my SunRiver St George Homes for sale page to see all MLS listed homes available in Sun River. 


Greater St George Market Snapshot and Comparison


Here is a comparison for the past 30 days for both 2011 and the same period for 2010


2011:





2010:



 ]]> </description>
            <pubDate>Sun, 27 Feb 2011 09:10:21 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.stgeorgeutproperty.com/blog/ivins-utah-real-estate-market-statistics.html</guid>
            <link>http://www.stgeorgeutproperty.com/blog/ivins-utah-real-estate-market-statistics.html</link>
            <author>paula@stgeorgeutproperty.com (Paula Smith)</author>
            <title>Ivins Utah Real Estate Market Statistics</title>
            <description> <![CDATA[ 
I'm working on area specific market reports, so buyers and sellers can gain perspective on target markets in Washington County.  Ivins Utah is located to the West of Santa Clara, which borders St George.  


This report will focus on Ivins residential home sales over the past 45 days.  As of today (January 20, 2011) there are 109 homes currently active.  From 12-1-10 to 1-20-11 there have been 18 homes sold.  Same comparison for that period for the prior year was:  153 active and 20 sold. 


Of the 109 active homes for sale, 24 ARE of distressed status (foreclosure or short sale).  This means that 22% of the homes listed ARE of distressed status.  This number is lower in comparison to neighboring St George which as of today shows 33% of the active homes listed as distressed property.


Ivins Utah Foreclosure Activity Report


Of the 18 homes sold (since December 1, 2010) 5 homes sold WERE of distressed situation.  This is equivalent to 27% of the sold homes are of distressed status.  Again, this number is lower in comparison with St George which reflected 43% of the homes sold within the same period WERE of distressed status.  Of course the sales volume in St George is significantly higher.  Interestingly enough, Santa Clara (which had a total of 12 homes sold) reflected 58% of the sold homes WERE of distressed situation.  


The average price for the 18 homes that were sold in Ivins came in at $229,589.  Santa Clara compared at $238,226 as the average price sold, and St George shows $188,718.  The chart on the right shows that the Median Sale prices are almost consistently lower than the Median List Price.  Pricing is key.  Taking a look at the 18 homes that sold, most of them were under contract within 30 days after the most recent price reduction, 8 of them were under contract in under 20 days (following any price reductions).  My point is that if you price it right, you will have no issue selling in a timely fashion.  You only have one chance to put it on the market for the first time, and it is within this initial listing period that you will achieve the most interest.  Have your home ready to sell when you list it, and price it right from the beginning.  


Paula Smith is a Marketing Expert for Ivins Utah real estate.  If you would like to have your home sold, contact me today for a Market Analysis of your home.  Re/Max First Realty of St George has a team of agents that consistently outperform the competition.  Allow me to professionally market your home and go from "For Sale" to "Sold".Paula Smith Ivins Utah RealtorView all homes listed for sale on my Ivins Utah Real Estate Page.
 ]]> </description>
            <pubDate>Fri, 21 Jan 2011 10:39:22 -0600</pubDate>
                    </item>
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