Alex Yeager's Saint George Utah Real Estate Blog: 2009

Monday, June 29, 2009

Southern Utah Real Estate Market Statistics

O.K. I have found a way to give out the most current and active MLS activity reports straight from the Washington Country Board of Realtors MLS system, for all of Saint George Utah and the greater Washington County...

The spreadsheet to the right has all listings classes and their respective numbers of currently active listings, pending listings and sold listings for all the greater Saint George area.

New-home sales declined 0.6 percent to a seasonally adjusted annual pace of 342,000 units in May. Meanwhile, the number of new homes for sale fell 2.3 percent to 292,000, which is a 10.2-month supply at the current sales pace.

Regionally, the decline in new-home sales was entirely focused on the South, where sales fell 8.5 percent for the month. Meanwhile, sales of new homes gained 1.3 percent in the West and posted double-digit gains of 28.6 percent and 18.6 percent in the Northeast and Midwest, respectively.

All of that being said… its 6/29/09…I keep these live links posted for the different search criteria that I receive the most requests for.

• Southern Utah Foreclosures
• Southern Utah Adult Communities
• Southern Utah Golf Homes
• Washington City Utah Homes & Condos
• Santa Clara Utah Homes & Condos
• Southern Utah Horse Property
• Washington County Board Of Realtors Hot Sheet

This last handy little link will pull you into The Washington Country Board of Realtors MLS system. From there you can see the newest MLS listings on the WCBR MLS system as well as all price reductions…Knowledge is Power!

As of today June 29, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 80 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 159 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/29/09 thru 6/29/09.
• 1,534 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 299 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

In any event its off to Twitter…I have few Twitter names, and here are two: StGeorgeHomes or EquityStGeorge. I post these same stats there if you would like to get…”Just The Fact’s” Till Tomorrow. Saint George Homes.

Friday, June 26, 2009

Southern Utah Real Estate Listings, Links, and Market Conditions

Well, the Nation Association of Realtors just came out with some new numbers regarding housing inventory… NAR chief economist, expected an improvement. “Historically low mortgage interest rates clearly drew buyers into the market, and housing remains very affordable even with a recent uptick in rates,” he said. “First-time buyers also are being drawn off the sidelines by the $8,000 tax credit, which is helping to absorb inventory. However, the increase in sales is less than expected because poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 4.86 percent in May from a record low 4.81 percent in April; the rate was 6.04 percent in May 2008. Last week, Freddie Mac reported the 30-year fixed at 5.38 percent; data collection began in 1971.

Total housing inventory at the end of May fell 3.5 percent to 3.80 million existing homes available for sale, which represents a 9.6-month supply² at the current sales pace, down from a 10.1-month supply in April.

NAR Inventory Chart

All of that being said… its 6/26/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 23, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 80 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 159 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/26/09 thru 6/26/09.
• 1,534 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 299 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Tuesday, June 23, 2009

Southern Utah Housing Statistics

As the chart of home sales indicates (source: SUTC) we actually sold 10 more homes in May 2009, 369 units sold, than the year to date prior...May 2008, 359 units sold. As the home affordability index holds steady at historically high levels due to cheap interest rates, and very motivated sellers most buyers understand this is a buying opportunity of a life time.

"Once the fiscal policy of this administration takes hold...our interest rates are going to skyrocket. At which point if you don't already own a home, good luck getting a home loan." J.P. Yeager Realtor. That is pretty much the general opinion of the different Realtors that I have spoken with.

Buyer competition for REO's & Short Sales in April and May intensified significantly. During this period, several of our Short Sale listings received multiple offers, which often resulted in sales prices that exceeded the seller's asking price. Our team's sub $350k REO & Short Sale inventory has been all but depleted... That being said, we anticipate continued buying opportunities based on the number of homes that will be sold at trustee's sales over the next 30-60 days.

All of that being said… its 6/23/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 23, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 8 1Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 159 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/23/09 thru 6/23/09.
• 1,532 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 299 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Saturday, June 20, 2009

Utah...A place to start over

By SaintGeorgeHomes.net

Top 10 Places to Start Over
Some parts of the United States have been less affected than others by the economic downturn.

“If people are looking for a job and they’re in Detroit, they’re in the wrong place. They need to be considering geographic mobility,” says Ernie Goss, professor of economics at Creighton University in Omaha.

BusinessWeek magazine, with help from staffing firm Manpower, has examined job opportunities all across the country, ranking metropolitan areas based on the percentage of companies planning to hire in the third quarter.

Here are the top 10 places it identified as offering the best opportunities for anyone looking for a fresh start:

1. Anchorage, Alaska
2. Provo-Orem, Utah
3. Kennewick-Richland-Pasco, Wash.
4. Yakima, Wash.
5. Omaha, Neb.-Council Bluffs, Iowa
6. Richmond, Va.
7. Winston-Salem, N.C.
8. Colorado Springs
9. Amarillo, Texas
10. Washington, D.C., Arlington-Alexandria, Va., plus areas in Maryland and West Virginia( Source: BusinessWeek, Prashant Gopal 06/09/2009)

All of that being said… its 6/20/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 20, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 74 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 182 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/20/09 thru 6/20/09.
• 1,535 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 291 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Friday, June 19, 2009

Southern Utah Parks, Properties, and Deductions

By SaintGeorgeHomes.net

Zion National Park to Offer Three Fee-Free Weekends – Zion National Park will be offering free entry into the park on the weekends of June 20-21, July 18-19, and August 15-16, 2009. The $25 entrance fee will be waived for those days only. The fee waivers apply only to entrance fees and do not include fees for camping, reservations, backcountry permits and tours.

New passenger vehicle purchases may offer tax deductions on 2009 tax returns According to Kris Braunberger, partner with HintonBurdick CPAs & Advisors, “The Internal Revenue Service recently announced that taxpayers who buy a new passenger vehicle maybe able to deduct state and local sales and excise taxes on their 2009 tax returns.” “For those thinking about buying a new car this year, this deduction may give them a little more drive to make their purchase this year,” said IRS Commissioner Doug Shulman. “This deduction enables taxpayers to buy now and get cash back later on their tax returns.” The tax break is part of the American Recovery and Reinvestment Act of 2009.

Here are seven things you should know about this new deduction:

1. State and local sales taxes paid on up to $49,500 of the purchase price of each qualifying vehicle is deductible.

2. Qualified motor vehicles generally include new (not used) cars, light trucks, motor homes and motorcycles.

3. Purchases must occur after Feb. 16, 2009, and before Jan. 1, 2010.

4. This deduction can be taken regardless of whether or not you itemize other deductions on your tax return.

5. Taxpayers will claim this deduction when filing their 2009 federal income tax return.|

6. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.

7. The deduction may not be taken on 2008 tax returns.

Consumers who are considering buying a new car may find that this tax incentive means there may have never been a better time to buy.”

All of that being said… its 6/19/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 19, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 74 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 182 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/19/09 thru 6/19/09.
• 1,535 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 291 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Thursday, June 18, 2009

Southern Utah Real Estate...Due Diligence, Don't Assume

Another Strange Transaction…

By SaintGeorgeHomes.net

Well it’s been a busy week on many fronts…one of my more interesting transactions has come to an end… Mr. Buyer is looking for an REO property with a multi car garage. OK. Found it…the home was built in 2004. There is an existing tax I.D. on the property, the home has been lived in from 2004 to present. It sits in a neighborhood that has $500k – $700k homes all around.

When I went to the city of Saint George to check and see if the property had a permit pulled for what looked like a commercial paint booth in this eight car, 2,000 sq. ft. garage, not only was there not a permit for the paint booth, there was never a Certificate of Occupancy given to the home by the city of Saint George.

When I approached the city about the fact that there was indeed a home on this lot, ( a big home 5,000 sq. ft.) the person at the desk down in the city permit and zoning office, huffed at me that there was nothing that she could do. I then asked how you have a file on a home under construction that only has a pass on final electrical and nothing else?…its hooked up to city sewer, gets city power, pays the city property taxes and yet, its not there issue. Wow! Finally got the CO, only to have the lender change the terms on the loan that the Buyer was going to use…

That being the short version of some of the strange variables that happens in any given transaction…bottom line is exercise you’re Due Diligence

All of that being said… its 6/18/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 18, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 74 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 182 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/18/09 thru 6/18/09.
• 1,535 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 291 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Thursday, June 11, 2009

Utah's "Home Run Grant" goes the distance...

By SaintGeorgeHomes.net

Well it looks like Utah’s “Home Run Grants” are going, going, …158 grants left, and there gone!

Ever since being signed into law in mid-March, the state’s “Home Run” housing grant program has been committed to the distribution of more than 1,400 grants of $6,000 each to Utah state residents purchasing newly constructed, never-occupied, single-family homes and or condos / townhomes.

The demand has far exceeded expectations to the point that the Utah Housing Corp., which administers the grants, anticipates the $10 million one-time federal stimulus money funding the program will be gone by week’s end. A check of the corporation’s Web site late Tuesday showed only 158 grants remaining.

As a means to eat through the unsold new housing inventory in the state of Utah, it looks like about 84% of the grants awarded have gone to buyers of homes priced between $100,000 and $299,999. This according to the most recent Utah Housing Corp. data that was updated June 5.

All of that being said… its 6/11/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 11, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 70 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 188 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/11/09 thru 6/11/09.
• 1,527 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 284 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Wednesday, June 10, 2009

Southern Utah Housing Inventory Continues to Drop

By SaintGeorgeHomes.net

As I had mentioned in one of my more recent postings, Saint George’s MLS inventory has been steadily decreasing over the past few months. Well as it turns out were not alone. I ran across this article in the Wall Street Journal while doing my morning reading…

“The supply of homes available for sale in 28 major metropolitan areas at the end of May was down 3.9% from a month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif. The ZipRealty data cover all single-family homes, condominiums and town houses listed on local multiple-listing services in metro areas where the firm operates. On a national basis over the past 25 years, inventories typically have shown little change in May from April levels, according to Zelman & Associates, a research firm.

Compared with the year-earlier month, the May inventory in the 28 metro areas was down 24%. The National Association of Realtors says about four million homes were listed for sale nationwide at the end of April. That was down about 11% from a year earlier.” Please follow this link to view WSJ Story and Graphs

All of that being said… its 6/10/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 10, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 68 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 179 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/10/09 thru 6/10/09.
• 1,527 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 287 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Tuesday, June 9, 2009

Southern Utah Down Payment Assistance Program

By SaintGeorgeHomes.net

The big headlines of the past week had everything to do with job losses…and some surprising twists within the monthly Jobs Report that arrived on Friday, and caused home loan rates to worsen yet once again. Despite their efforts to improve early in the week, Bonds and rates ended the week .375% to .5% worse than where they began.

Friday’s Jobs Report showed that 345,000 jobs were lost in May, far better than expectations for 520,000 jobs lost. And adding to the positive tone were revisions to the two prior months, showing 82,000 fewer jobs lost than previously reported. So all in all, about 260,000 fewer jobs lost than had been forecast. But let’s take a closer look.

Also, I received an email from the Washington County Board of Realtors regarding the city of St. George’s announcement that its Fiscal Year 2009-10 funding allocation for the Down Payment Assistance Program (DPAP) will be in place this July. As such they are now accepting applications for participation in the program. For more information go to www.SaintGeorgeHomes.net

All of that being said… its 6/09/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 9, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 71 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 176 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/9/09 thru 6/9/09.
• 1,530 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 289 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Monday, June 8, 2009

Southern Utah MLS Data

Southern Utah Real Estate, Listings, Links and Area Information

By SaintGeorgeHomes.net

The City Council approved a preliminary 2009-10 fiscal year budget Thursday that is about $5 million thinner than the previous year’s, largely due to a lack of capital projects. However, while budget constraints will handcuff the city’s ability to fund new construction this year, several government-backed projects, such as the city’s new airport, a bridge project on Valley View Drive and a realignment of the intersection of Hilton Drive and Blackridge Drive, could give the area’s struggling construction industry a much-needed boost.

Every government entity except at the federal level must balance their budget each and every year. In Utah, the fiscal year is from July 1st to June 30th.

The city accepted a pair of bids on projects related to the airport, including $6.3 million to construct the terminal building and $4 million to perform the finish grading and terminal excavation. The Federal Aviation Administration has promised $123 million toward the $160 million project

All of that being said… its 6/08/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 8, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/8/09 thru 6/8/09.
• 1,551 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Saturday, June 6, 2009

Not Far From The Truth

Washington Country Housing Permits

What Inflation?

Interest Rates Are Jumping

By SaintGeorgeHomes.net

Rates on conforming 30-year loans (under $417,000) jumped dramatically in just a few days, ending the week at an average of 5.27% according to Bankrate.com. That’s still not bad by historic standards, but it’s a jump from the levels seen just a few weeks ago, from around 4.75% or below.

The reason for this is not hard to understand. Rising government debts, and a strong belife that an economic recovery is under way, are pushing up long-term interest rates on government debt. The yield on the 10-Year Treasury, which was just around 2% near the end of last year, swelled to 3.67% late last week before settling back a bit…that in turn, pushes up rates on other long-term loans.

For those thinking about buying a new home: Be aware this rate hike — to 5.25%, from 4.75% recently — can add quite a bit to your expenses. It will cost an extra $50 a month for someone buying a typical $200,000 residence with an 80% loan. Rates still look pretty reasonable, from a historical standpoint, but now there’s an extra level of uncertainty in the process. Who knows where they will end up by the time you come to sign?

All of that being said… its 6/06/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 6, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/6/09 thru 6/6/09.
• 1,551 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Thursday, June 4, 2009

How can I use the fed tax credit

The newest details about the use of the $8,000 first-time home buyer tax credit to obtain a government-insured mortgage reveal the advanced funds may be applied toward the down payment only after the borrower meets the minimum 3.5% of the house’s appraised value.

This announcement attempts to clear the air about the use of the credit toward down payments. In addition to down payment purposes in excess of the minimum 3.5%, borrowers may apply the monetized tax credit toward other closing costs, which can in turn lower the interest rate obtained, according to HUD’s announcement.

Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today’s announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate.

All of that being said… its 6/04/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 4, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 75 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 194 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/4/09 thru 6/4/09.
• 1,537 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 285 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Wednesday, June 3, 2009

Utah...teaching personal finance

Wow – here is a scary statistic as to the state of our Banking System: The “loan-to-deposit” ratio for US banks was 51% in 1960, i.e., half of a bank’s deposits were loaned out. By 2007, the “loan-to-deposit” ratio for US banks was 113% (source: Fortune, FDIC). That’s right the banks have been lending over 100% of their deposits.

So, in a time where our fiscal I.Q. is of the greatest importance only 3 states (Missouri, Utah and Tennessee) require high school students to take at least 1 semester of personal finance (source: House of Representatives). Yeah Utah!

Were not out of the woods just yet…the dollar value of ARMs (adjustable rate mortgages) that are expected to be reset from their initial interest rate level will peak in August 2011 and is estimated to be $40 billion for that month. Less than $20 billion of ARMs are expected to be reset this month (June 2009). The previous peak in monthly ARM resets occurred in July-August-September 2008 when $35 billion was reset each month (source: Credit Suisse).

All of that being said… its 6/03/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 3, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/3/09 thru 6/3/09.
• 1,551 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Tuesday, June 2, 2009

Southern Utah Real Estate

Real Estate Fast Facts…Southern Utah Real Estate, Listings, Links, and Market Conditions

By SaintGeorgeHomes.net

All prospective first-time home buyers should be aware that they have until 12/01/09 (i.e., 6 months from today) to purchase a home that qualifies for the Fed tax credit, worth 10% of the cost of the home up to $8,000. The tax credit, which is phased out at adjusted gross income levels of $150,000 and up for a married couple, is claimed on IRS Form 5405. Please consult a qualified tax advisor or legal professional for details (source: National Association of Home Builders).

The median sales price of an existing home sold in the USA in April 2009 was $170,200. The median sales price of an existing home sold in the USA in April 2004 (i.e., 5 years earlier) was $179,000 (source: National Association of Realtors).

All of that being said… its Tuseday 6/02/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today June 2, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/2/09 thru 6/2/09.
• 1,551 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Friday, May 29, 2009

Housing Inventory Continues to Drop…But So Does Price

By SaintGeorgeHomes.net

As the board of Realtors statistics show, single family homes and condo’s / townhomes sales were the highest we have seen in Washington County for months. Other items of good news include lending numbers in both transaction and dollar amounts. PUD/Condo sales are nearly in half while home sales are higher than this time last year.

Taken as a whole, the market is encountering a long over due sense of restoration…at least in sales. As new notices of default and actual foreclosures are both increasing…leading to more downward price pressure. Watch for the gap between new foreclosures and total home sales to eclipse as lower prices and increased loan availability drive sales up over new foreclosures. While many markets like California, Nevada and Arizona markets still struggling, watch for Southern Utah’s sales numbers to increase.

All of that being said. T.G.I.F. 5/29/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May 29, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 83 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 183 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/29/09 thru 5/29/09.
• 1,584 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 295 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Wednesday, May 27, 2009

St George Utah Real Estate Listings, Links, and Market Conditions

By SaintGeorgeHomes.net

As I sit and read my daily online news, so that I can write my blog…I keep noticing economic signs of life in the news. It looks like consumer confidence has soared to the highest level in eight months in May… chrushing analysts’ estimates, it seems that Americans grew optimistic that the job market and business conditions will turn the corner before year’s end.

Meanwhile rates on 30-year mortgages edge down last week, lingering below 5% for the tenth straight week, and just above record lows. The net result was that mortgage applications rose last week, reflecting an increase in demand for home refinancing as interest rates fell.

All of that being said. It’s Wednesday 5/27/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May 27, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 81 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 182 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/27/09 thru 5/27/09.
• 1,586 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 301 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Friday, May 22, 2009

Utah’s, “Home Run Grant” Is Going, Going, Almost Gone!

If you have been one of the Home Buyers in Utah, looking to snag one of those Home Run Grants from the state worth $6,000, aimed at those buying a new home that had never been occupied…your time is running out fast.

Of the 1,600 grants that were originally issued by the Utah Housing Corp., in the middle of March more that 1,000 Utah residents have qualified for the grant. The 600 or so grants left a expected to go quickly. For more information on the entire home runt grant program go to my website @ www.SaintGeorgeHomes.net and click on “Home Run Grant”.

All of that being said. It’s Friday 5/22/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May 22, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 200 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/22/09 thru 5/22/09.
• 1,596 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 291 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Thursday, May 21, 2009

The Last Shoe to Drop...Is the next Opportunity to Pop

As I have mentioned in some of my past blogs, the commercial sector of the Southern Utah Real Estate market has represented a big hit to the Saint George economy. With the general economic downturn continuing to extend in to the second half of 2009, and a severe credit crunch in commercial real estate lending, the National Association of Realtors® has reported there will continue to be a “dampening in commercial real estate activity”. In addition, a forward-looking index shows the forecast for commercial real estate sectors will remain weak for the remainder of the year.

When one stops to analyze the commercial real estate market, you can see that they have been hit by a combination of events… the significant job losses in all sectors of business have reduced the demand for commercial space, while a lack of credit has hindered transactions and refinancing activity. As well, the commercial real estate sector is almost always the last to recover.

All of that being said, when you factor in the growth that Saint George Utah will face in the near future and…

The new regional jet airport and all of the business opportunities that it will represent.
Dixie State College potentially becoming part of the University of Utah (educated work force)
The different businesses that will be fleeing California due to cost of doing business (we have cheap power & cost of living for employees)
Our I-15 location for the transportation of goods from Denver to San Diego (see new airport Fed Ex, UPS)

What is now a distressed market sector, will be tomorrows great investment.

All of that being said. It’s Thursday 5/21/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May 21, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 83 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 190 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/21/09 thru 5/21/09.
• 1,599 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 289 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Tuesday, May 19, 2009

Housing Affordability index jumped 10%

Wow…on Monday – It was reported that the nationwide housing affordability index jumped 10 percentage points during the first quarter of 2009, to its highest level since 1991, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released yesterday.

The HOI showed that 72.5 percent of all new and existing homes sold in the first quarter of 2009 were affordable to families earning the national median income of $64,000, up from 62.4 percent during the previous quarter and up from 53.8 percent during the first quarter of 2008.

The underlying increase in affordability are lower home prices and record low interest rates. Combined with the $8,000 federal tax credit for first-time home buyers, consumers are beginning to return to the marketplace.

All of that being said. It’s Moday 5/19/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May19, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 78 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 178 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/19/09 thru 5/19/09.
• 1,598 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 287 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Monday, May 18, 2009

Saint George Utah Real Estate, Listings, Links and Market Condition

As summer approaches and American travelers start looking at vacationing…while staying closer to home. Southern Utah in general, and Saint George Utah specifically starts to shine as a vacation destination for several reasons. It’s not because they can’t afford to travel out of state, but rather that they can save while they’re traveling the great Southwest.

With Zion National park just 45 minutes from downtown Saint George, its astonishing the scenic diversity that exists in Southern Utah…I had some friends from the Monterey Peninsula visiting me over the weekend. To hear them speak, you would have thought they were going on a safari to the Australian outback. After enjoying a day of hiking in Zion’s breathtaking canyons, it was off to Las Vegas (2 hours away) to see a show.

I found it interesting that my friends, who grew up in Carmel Ca., where most visitors can be heard speaking of its scenic beauty; were here in St. George, praising our natural wonders. I quickly point out the biggest difference between Saint George, and Monterey (aside from summer time temperature) is that our homes do not cost $1,000 per square foot…that’s their average. Oh yeah, and our state is not on the brink of financial ruin.

In any event, I found it interesting that my friends enjoyed our scenic diversity…All of that being said. It’s Moday 5/18/09…I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May18, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 79 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/18/09 thru 5/18/09.
• 1,600 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Friday, May 15, 2009

Southern Utah First TIme Home Buyers

Some of the Hidden Cost of Your first Home Purchase…

The time seems ripe to become a first-time homeowner. Real estate prices are down, mortgage rates are at historic lows and there are huge tax credits on the table. As well as some regional incentives…for instance the “Home Run Grant” is a mortgage assistance program that grants $6,000 to home buyers who purchase a newly-constructed, never-occupied, primary, single-family residence in Utah. The Home Run Grant is funded by the Housing Relief Restricted Special Revenue Fund, established by Utah Governor Jon Huntsman, the Utah State Legislature, and Utah Housing Corporation.

With all of these incentives one still needs to consider the following cost of buying their first home:

YOUR FICO SCORE» Start the process by improving your credit report. While the cost can be comparatively minor, it’s important now that banks are being more selective about making loans. A higher FICO score also gives you greater negotiating power over mortgage terms. A stellar score ranges from 760 to 850, while scores below 640 might mean you have to pay a significantly higher interest rate. You’re entitled to a free annual credit report from each of the three major credit bureaus. Getting your FICO score costs $15.95 at www.myFICO.com.

HOW MUCH DOWN» Rates on 30-year fixed mortgages are at a record low of 4.78 percent, but more lenders are demanding bigger down payments of 20 percent or more. If your down payment is less than 20 percent you generally need to pay for mortgage insurance. This could cost $100 or more a month depending on the nature of your loan.

NEW FANNIE & FREDDIE FEES» New fees introduced by Fannie Mae and Freddie Mac in the past year will likely push the price of a mortgage higher for many people. The fees are based on credit profiles, the amount of the loan in relation to property value and the type of home you’re buying. As such, they’ll vary greatly, but could total as much as 3 percent of the mortgage.

HOME INSPECTIONS » There are plenty of inspections to consider, including home inspection after making a verbal offer that can costs hundreds of dollars. Other inspections might be for lead paint, pests or radon gas. Some of these checks might be required by the lender and included in the closing costs.

REMEMBER MAINTENANCE » Don’t focus on the monthly mortgage costs alone. It’s easy to forget all the maintenance costs and that your utility costs will likely go up significantly. There are bigger maintenance matters to consider, as well, such as repainting the house periodically. You’ll also be on the hook for any repairs for your home.

All of that being said… today is 5.15.09, In an attempt to keep up with the many request for different types of Southern Utah Real Estate Listings, I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May15, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 84 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 173 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/15/09 thru 5/15/09.
• 1,606 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Thursday, May 14, 2009

Southern Utah Real Estate Market Conditions

As someone who has been trying to refinance my home. I have found a limited availability of jumbo loans (more than $417,000) and unusually high interest rates for these products. There is no doubt in my mind that this is hurting the upper end of the housing market. While doing my morning crawl through the haze of real estate news, I found an article from NAR. According to just-released research from the NATIONAL ASSOCIATION OF REALTORS® the ongoing credit crunch in the jumbo mortgage market has stalled home sales homes with a value of more than $417,000 despite some recovery taking place in some mid- and low-priced home markets.

The mortgage market has three primary types of loans. Loans up to $417,000 are considered “conforming,” loans between $417,000 and $729,500 are “conforming jumbo,” and loans over $729,500 are “super-jumbo.” Although conforming mortgage rates are at 50-year lows, jumbo loans in general continue to remain very costly. Which helps to explain the heavy consumption on the bottom end of the MLS inventory…while we the upper end continues to stagnate.

All of that being said… today is Wednesday 5.14.09, In an attempt to keep up with the many request for different types of Southern Utah Real Estate Listings, I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May14, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 84 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 173 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/14/09 thru 5/14/09.
• 1,606 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Wednesday, May 13, 2009

Median Price for Single Family Homes Fall 14%

By SaintGeorgeHomes.net

The median price for a single-family house fell 14% to $169,000 in the first quarter from a year earlier, the National Association of Realtors reported. NAR said first-time home buyers accounted for half of all purchases in the quarter, and many of them zeroed in on foreclosed homes. According to NAR that dragged down the median.

Sales of single-family homes and condominiums declined 6.8% from a year earlier to a seasonally adjusted annual rate of 4.6 million units. But sales were up sharply in some areas hardest hit by the housing bust, largely because bargain hunters were out in force. States with big sales increases from the depressed levels of a year before included Nevada (up 117%), California (81%) and Arizona (50%) and Florida (25%). See Full Story

All of that being said… today is Wednesday 5.13.09, In an attempt to keep up with the many request for different types of Southern Utah Real Estate Listings, I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May 13, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 84 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 173 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/13/09 thru 5/13/09.
• 1,606 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Tuesday, May 12, 2009

More Green Shoots For Southern Utah

Well it looks like we might be nearing a bottom in the real estate market here in Southern Utah / Saint George. As the number of homes listed for sale on the Washington County Board Of Realtors continue to drop. And the number of foreclosures on the MLS has dropped to 87 properties. When I first started tracking MLS data to try and find a bottom for the Southern Utah housing market, we had over 300 properties listed as REO, or Bank Owned.

On a national basis, inventories typically increase in April as for-sale signs bloom for the spring home-shopping season.Our April MLS housing inventory has been steadily decreasing…More “Green Shoots”.

All of that being said… today is Tuesday 5.12.09, In an attempt to keep up with the many request for different types of Southern Utah Real Estate Listings, I keep these live links posted for the different search criteria that I receive the most requests for.

As of today May12, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 87 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 196 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 4/12/09 thru 5/12/09.
• 1,605 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 307 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

Monday, June 29, 2009

Friday, June 26, 2009

Tuesday, June 23, 2009

Saturday, June 20, 2009

Friday, June 19, 2009

Thursday, June 18, 2009

Another Strange Transaction…

Thursday, June 11, 2009

Wednesday, June 10, 2009

Tuesday, June 9, 2009

Monday, June 8, 2009

Southern Utah Real Estate, Listings, Links and Area Information

Saturday, June 6, 2009

Interest Rates Are Jumping

Thursday, June 4, 2009

Wednesday, June 3, 2009

Tuesday, June 2, 2009

Real Estate Fast Facts…Southern Utah Real Estate, Listings, Links, and Market Conditions

Friday, May 29, 2009

Housing Inventory Continues to Drop…But So Does Price

Wednesday, May 27, 2009

Friday, May 22, 2009

Thursday, May 21, 2009

Tuesday, May 19, 2009

Monday, May 18, 2009

Friday, May 15, 2009

Thursday, May 14, 2009

Wednesday, May 13, 2009

Tuesday, May 12, 2009

Followers

Blog Archive

About Me