The Jared Zimmer REMAX Properties Blog

 

Oct. 18, 2021

It's Taking Even Less Time On Average To Sell Your Home!

It's Taking Even Less Time On Average To Sell Your Home!

We've been studying a range of recent Iron County real estate statistics, and one that really stands out is that it's taking even less time, on average, to sell your home in Iron County!

The average number of days a home is on the market had fallen by just over 43% in the past year at the end of last month.

As the Days On Market graph above demonstrates, September saw a big drop compared with the spike we saw in August and the average days on market now outperforms any month in the past year. This is especially remarkable, given the tremendous year that the market has seen here.

And this is happening in spite of a growing inventory of listings on the market since February. Even better, sold prices in September matched the year-plus high we saw in July.

This is strong evidence that buyers are very likely responding to having more choice once again. Some may have been put off by making consistent unsuccessful bids for homes.

These are great conditions for sellers as we continue through the fall. And let's not forget that many current buyers will want to be in their new homes for the holidays, as a further incentive.

Our market is always very active through fall and winter and it's a complete myth to think otherwise, so why not contact us today at 435-327-2090 to discuss your best options.

Sept. 30, 2021

Five Reasons Why Fall Is A Great Time To Sell Your Home

Five Reasons Why Fall Is A Great Time

The above graphic speaks for itself.

Fall and winter buyers are always among the keenest and most serious that we see in the whole 12-month real estate cycle.

There's every incentive to list right now and it is absolutely not too late to sell your home in time for the holidays.

And with over new 30 subdivisions in the area launching in the next year or so, it makes even more sense to sell before there could be a lot more competition in future.

Click here or call us at 435-327-2090 for an informal chat about your best options.

Sept. 15, 2021

Get Your Home Ready For Fall

Get Your Home Ready For Fall

It's certainly been a roller coaster summer of weather here in Iron County and, astonishingly, we are now under a week away from the official beginning of fall!

With night temperatures due to temporarily drop into the low 40's early next week, and with colder days ahead, there's still going to be plenty of good weather to get those essential fall home maintenance tasks under way. But the clock is ticking.

So here are some great tips for the coming days:

Roofing - We have, of course, endured some very challenging weather conditions in Iron County at times during this summer, including damaging hail storms. So it's arguably even more imperative than usual to carry out a visual inspection of your roof, or hire a qualified and reputable local professional to do one for you. The last thing you need is an undiscovered leak.

Gutters/Downspouts - Make sure these are clear of debris that can cause overflow. Rainwater should also be discharging a few feet from the building perimeter to avoid possible foundation damage.

Sprinkler Systems - The first freeze cannot be too far away, so you're fast approaching the time to winterize your system. Use compressed air to blow any remaining water out of the pipes. If left alone it could freeze and cause a burst, which you'll not notice until you switch everything back on in the spring.

Heating - Our hot summers mean that heating systems almost become a distant memory by mid-September, but it won't be too long before we begin to switch from cool to heated air. Make sure your furnace filters are being replaced as recommended. A full system service right now avoids the potential issues of having problems during the holidays, with a home full of guests, right when it's also very difficult to obtain professional help.

Plumbing - Make sure any exposed pipes are properly insulated. Know where your home's water controls are if you ever need to switch off your supply.

Chimneys/Flues - Now's the time to get your chimney cleaned, if you have one, and to check for flue sealing.

Air Sealing - In summer, we are concerned with keeping cool air indoors and in fall and winter we focus on doing the same with heat. Air leakage from your interior is expensive and uses more fuel, so make sure doors and windows are properly sealed when closed.

Propane Levels - Now is the time to make sure your tank is ready for the winter. Some local propane suppliers offer payment plans to allow you to spread the cost, smoothing out the contours of expense in the coldest months of the year, which are on their way once again.

Ceiling Fans - When heating becomes necessary, it will also be the time to reverse the direction of your ceiling fans. Fans should turn clockwise at a low speed in winter to gently draw air up towards the ceiling and force it down and out towards the walls, avoiding the wind chill effect that's so welcome in summer.

Outdoor Lighting - It's possible that you have bulb failures that you've not spotted during the summer, so now is a great time to check these from the viewpoint of safety and security. Now is also a good moment to review how effective your external lighting is and to make upgrades while the weather's still good.

Fences/Decking - These can take a real battering from fall/winter weather so now is the time to be completing any maintenance/staining/painting tasks that ensure everything will emerge from the coming months in great shape.

Critters - Seal holes and gaps where they might seek entrance to your property. Like all of us, critters prefer to be indoors as it gets colder.

Trees/Shrubs - Pruning will help to avoid the possibility of falling branches in stormy conditions. Look for signs that trees/shrubs might be in need of treatment. These include thin/brown pines, dead branches and very early leaf color changes.

Concrete - Cracks that have appeared during the spring or summer are only likely to get worse when it freezes, so repair these areas asap.

Lawns/Mulch - Cool weather grass seeds should be sown very soon. Laying mulch around shrubs, flowers and bushes helps to protect them from the worst that fall and winter will almost inevitably throw at them.

Ice Melt - The first freeze can happen with little or no notice and we could be seeing snow quite soon too. So make sure you're stocked up with ice melt, rather than having to rush to the store in slippery conditions.

We hope that at least some of these tips will be useful. As always, please don't hesitate to contact us on 435-327-2090 if you have any questions concerning real estate.

Aug. 18, 2021

Why You Might Want To Reconsider Waiting To Sell Your Iron County Home

 Why You Might Want To Reconsider Waiting To Sell Your Iron County Home

The summer is entering its final phase and, while the weather stays warm, this is usually a very good time to sell your home.

While we see a good number of buyers all year, it's undeniable that, in most years, as the weather beings to cool so does the market.

So, with many weeks of mainly sunny weather ahead of us, it makes a lot of sense not to delay listing your home.

What's more significant this year, compared with previous ones, is that we are going to see some fundamental changes to the Iron County homes market in 2022.

There are over 30 subdivisions either planned or currently in construction in the area. This will mean that there is going to be a lot more competition to sell your home should you decide to wait until next year to sell. Not only will this mean buyers have more options, but price is likely to come under pressure as a direct result.

So it is fair to suggest that the market we are seeing right now, which has calmed down a bit from what we were seeing in the spring but remains very lively, could be the best opportunity we will see for some time.

As always, please don't hesitate to get in touch with us at 435-327-2090 to discuss your best options.

July 28, 2021

Mortgage Rates Drop To A Six Month Low

Mortgage Rates Drop  To A Six Month Low

Yet again, mortgage rates are tumbling and this morning it was announced that 30-year rates are now at the lowest levels since February (Source: CNBC).

This is very welcome news that is likely to drive a very busy market in August.

We've recently seen signs of a more balanced approach by buyers and slight improvement in inventory of available homes for sale, but even lower mortgage rates can only act as an important further purchasing stimulus.

And while inventory has improved, it's still much lower than the very busy market at this time last year, so there's still tremendous scope for new sellers to enter the market.

A combination of lower cost borrowing and wider choice of homes has the potential to really energize the market as we approach the end of summer.

Why not contact us today at 435-327-2090 to discuss your best options.

July 19, 2021

Why More Choice For Buyers Can Be Good News For Sellers Too

  Why More Choice For Buyers Can Be Good News For Sellers Too

We have been studying the latest Iron County real estate stats for June and they confirm something we have already been noticing - inventory of available homes for sale has started to climb.

If you look at the above graph, you'll see that last month saw the first upward spike in new listings since March. That's partly in line with seasonal expectations, but it also follows the trend that started in March for the number of active listings to rise.

If you look at the number of sold listings on the same graph, you'll see that the difference between them and the active and new listings is increasing, though we continue to see more sales in total month-on-month.

These patterns reflect the general view across the nation that the real estate market is starting to cool a little from the unsustainably frenetic market we were seeing just a few weeks ago.

But it's also important to put things in perspective. June saw a small improvement in the number of months of supply in our market (see absorption rate graph below), but it's still only about six weeks, so it remains very much a seller's market. There were also hundreds more homes on the market in June 2020 than in June this year (a drop of just over 44%).

We also observed that the average number of days a home is on the market (see graph below) continues to fall quite dramatically, again demonstrating the exceptional demand that's still around.

And if inventory does continue to rise, this may yet attract even more buyers, as they will enjoy having more choice and the reduced possibility of rejected offers.

We are arguably seeing a return to a more normal and balanced market that is also actually good news for sellers too, especially if they are looking to buy another property themselves.

It's important to emphasize that these changes were bound to happen at some point and don't represent anything close to a market collapse.

The pandemic was a time of extremes and we now appear to be progressively moving to living more normal lifestyles again. That will be reflected in real estate, where the fear of living in major cities caused so many people to move here. That fear is not nearly as strong as it was even a couple of months ago.

As the return to normalcy gathers pace, we can expect to see a continuation of the popularity of this area to newcomers. This is reflected in over 30 new subdivisions that will be coming online in the next year or so.

As always, we'd be delighted to talk with you if you have any questions or concerns regarding the current market conditions and/or your situation , so don't hesitate to get in touch with us to discuss your best options - 435-327-2090.

  Why More Choice For Buyers Can Be Good News For Sellers Too

  Why More Choice For Buyers Can Be Good News For Sellers Too

June 30, 2021

Are We Heading For A More Balanced Real Estate Market?

  Are We Heading For A More Balanced Real Estate Market?

There have been quite a few press reports in recent days, suggesting that we may be seeing the beginnings of a more stable, balanced real estate market and this could, in fact, be a very good thing.

While low mortgage rates remain an incredible motivation for many buyers, the widespread rollout of vaccines and reducing number of Covid cases is arguably calming some of the frenetic buying patterns we saw earlier in the year.

This doesn't mean that buyers aren't still looking to move to areas like ours in very significant numbers. They probably don't have quite the same sense of fear/urgency any more and things are possibly settling into a more usual pattern.

There have also been signs of increasing inventory of available homes in some sectors of our market. These aren't necessarily a reflection of less buyer sentiment, however.

Amazing price growth over the past few months has undoubtedly caught the attention of many Iron County homeowners, rightly recognizing that this could be the best real estate market they'll see, especially bearing in mind that over 30 new subdivisions will be coming on stream in the next year and beyond, greatly increasing competition with new build properties, possibly leading to further market correction.

It's very important to acknowledge that a more balanced market, with more choice for buyers, is actually a healthier one. It could easily lead to even more buyers, motivated by having increased options and the decreasing chances of frustration as offer after offer fails to meet with success.

For sellers, more buyers could yet lead to even better returns as, even though inventory has improved slightly, it is still not at a truly sustainable level to meet future demand, especially before the new subdivisions start to come online.

It's a perfect time to sell your home, as we approach the height of the selling season, so don't hesitate to get in touch with us to discuss your best options - 435-327-2090.

June 17, 2021

The Market's Doing Great, But Don't Be Complacent When Presenting Your Home

 The Market's Doing Great, But Don't Be Complacent When Presenting Your Home

We are currently seeing what is arguably an unprecedented seller's market in Iron and Washington Counties, with incredible levels of demand for homes in the area.

It might therefore be assumed that the normal levels of meticulous preparation of your home for sale are not so vital, or even necessary, at present.

In reality, however, nothing has changed in terms of the importance of making your home look as good as it possibly can.

Ultimately, buyers still have choices and, while low inventory levels of available homes might not be ideal from their perspective right now, it's still the case that the most impressive homes will sell fastest and for more money.

Of course, mindful that they could have fewer options than they might wish, buyers might make some compromises when one or two small details aren't exactly what they would ideally like to see. In general, though, you'll still have a much harder time selling, and a lot less interest, if you don't take staging the home seriously.

Another key factor in today's market is that many buyers are arriving here from other states, especially California. This makes your online property photos/virtual tour more crucial than ever, as a lot of home shopping starts on the internet. Therefore a home that doesn't show well in photos might struggle to get on short lists for viewings by more distantly based potential buyers.

Here are some useful pointers:

  • Honestly ask yourself if you would buy your home in its current condition. If the answer is no, then identify what needs changing and, as best you can, address those issues immediately.
  • If you're really in a hurry to sell, prioritize the work that will make the biggest difference in the shortest time frame.
  • Paint touch-ups and surface cleaning products can actually transform a property in a few hours or days, depending on how much work is needed.
  • Clutter never helped to sell a home, so a thorough life laundry and possibly even using storage to thin out the content of your rooms, will inevitably pay dividends.
  • If time allows, don't wait until you're about to list, or have already listed, before making improvements.

We are always happy to offer advice as to how to optimally present your home for sale, and what to prioritize, so please don't hesitate to get in touch with us - 435-327-2090.

May 27, 2021

Why Is A Great Listing Agent So Important In This Fantastic Seller's Market?

Why Is A Great Listing Agent So Important In This Fantastic Seller's Market?

Iron County is enjoying unprecedented real estate market conditions right now.

Demand for great properties is sky high and there's huge competition among buyers, eager to secure a home in this ever faster growing area. It's becoming increasingly common for properties to be under contract very, very soon after they are listed.

There's no question that it's a great seller's market right now. Arguably it has never been better for those who do decide to list in this moment of astounding buyer sentiment and high pressure on inventory of available homes in every market sector.

So why, you might ask, is it still so important to make the right choice of listing agent if buyers are so eager? Isn't it just a case of listing and waiting for the offers to flood in?

Were all listing agents operating equally, then the above questions might be very valid.

However this is emphatically not the case and, in order to achieve top dollar and a sale in a time frame that's right for you, it's still essential to team up with a top producing agent.

Here are just some of the main reasons for this:

Pricing - Prices are constantly on the move at the moment and it's absolutely vital that your agent is right on the pulse with this when setting the right asking price, so that you make the most of the stunning opportunities at present. A strong current track record of success is a good sign. Make sure you ask to see it.

Marketing - Just because the market is so ignited doesn't change the basics of selling and your agent needs to be able to demonstrate a vigorous, robust and comprehensive marketing plan. This ensures that the maximum number of qualified buyers are being informed of the presence of your home, so that the pool of potential offers is optimal.

Connections - Long established close relationships with past clients, other influencers and, critically, the area's top buyer's agents, further enlarge the circle of potential qualified buyers. And as a lot of people are moving into the area, ask your agent what his/her connections are with other agents in areas, such as California, where they may be selling existing homes and networking to see what availability is like in places like here for those clients who are looking to move out of state.

Tenacity - Is your agent just concerned with selling the home at any price, or maximizing your return? It's a very valid question. Ask agents to show you how they've achieved top dollar for clients in recent weeks.

Your next home - Things often move very fast in today's market and working with a top agent helps to ensure that your key goal of seamlessly moving into your next home is realized. That's always more difficult if your agent isn't making strenuous efforts to get your current home sold as soon as possible, for the highest return.

Full service - Ensure that your agent offers an expertly staffed full service, from initial listing to completion and beyond. This helps everything to progress smoothly and efficiently, which is so important at the moment.

We would be happy to be put to all the above tests, so please reach out to us today - 435-327-2090.

May 18, 2021

Have You Thought About Estate Planning Yet?

Have You Thought About Estate Planning Yet?

It's generally estimated that between 50-60% of Americans have not made any estate plans.

This has some very serious implications and the negative effects of doing nothing about it can even begin while you're still alive!

Did you know that in the state of Utah, if you have over $100K in total assets, or if you own any real estate, regardless of its value, your estate must go through probate if you do not have a well-crafted estate plan in place prior to your death?

It's imperative to declare a person to make financial, healthcare and investment decisions, and other day to day matters, including paying bills, if you are not able to.

Without a healthcare plan and power of attorney, usually bestowed on a relative, hospitals have to follow their own protocols. It can even mean that relatives living far away are not able to obtain something as basic as a condition check without having to go through a lengthy and expensive legal proceeding.

Legally recognized power of attorney is very important in areas such as real estate and vehicle ownership, if items need to be sold, titles need to be updated or information is needed from the bank for payoffs etc.

Dying intestate without a will means that your estate will have no pre-planned structure that deals efficiently with asset distribution and its management. A correctly constructed will avoids probate, whereby courts can become involved in the process.

A well-conceived plan empowers you and your beneficiaries to exercise complete control over what will transpire, including compilation of the final tax return that needs to be filed following your death.

It's also important that your plans create a line of succession so that someone will always be there to handle the estate.

Effective estate planning avoids stress and confusion for your survivors. They could be unable to carry out your wishes without any legally recognized record.

No one knows what lies ahead in the future, so you would be well advised to act now and liaise with your legal advisor(s), not least to give everyone concerned peace of mind and a lot less worry at a distressing time.

Cedar City attorney David Westwood commented: “Nobody thinks that their family will fight after they are gone; however, it really can happen to anyone. The best of families can be torn apart if an effective estate plan is not in place.

“The last thing you should be worrying about when you are in poor health or on your death bed is about money and/or material possessions. An effective estate plan gives you the peace of mind in knowing that your family is protected so that you can focus on what is most important in life.

“An ounce of prevention really is worth a pound of cure. Putting together a solid estate plan is less expensive than you may think and is certainly a lot less expensive that putting your family through a litigated probate.

“Your house is often the most valuable asset in an estate. Why not put together an estate plan to ensure that the wealth in your estate passes on your terms and to the people you feel would benefit most? It’s not something that should be left for the government to decide.”

David Westwood can be contacted at:

Westwood Law, P.C.
98 W. Harding Ave.
Cedar City, UT 84720
Ph:  435-267-2145
Fax: 866-627-3433
david@westwoodlawfirm.com
https://www.westwoodlawfirm.com/