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.

• 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 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”

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.