Interest Rates

April 12, 2024

How is the Spring Real Estate Market Shaping Up in Iron County?

How is the Spring Real Estate Market Shaping Up in Iron County?

The above statement from the National Association of REALTORS® chief economist demonstrates that, across the nation, there is still an affordability issue for buyers.

Lawrence Yun says that recent inflationary pressures are likely to mean slightly higher mortgage interest rates in the upcoming weeks.

It's very important to stress ...

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Feb. 29, 2024

Great Reasons to List Your Home Right Now

Great Reasons to List Your Home Right Now

If you've been on the fence about when to list your home, there are some compelling reasons to do so right now.

  • As we head into March, it's still relatively early in the real estate year and there are some real opportunities for sellers.
  • Inventory of available homes ...
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Jan. 19, 2024

Looking Forward to This Year's Housing Market with Optimism

Looking Forward to This Year's Housing Market with Optimism

 

Numbers and statistics paint a picture. Sometimes they show a reality we neither like or expect, but they don't lie.

The graphs here, provided by InWest Title, show similar fluctuations and trends.

We started 2023 with mortgage interest rates at around 6%. In the first quarter they dropped ...

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Nov. 10, 2023

Holiday Season... Sell? Or Wait? ?- Some Pro Tips to Consider

Holiday Season... Sell? Or Wait? - Some Pro Tips to Consider

It's one of the biggest myths in real estate that homes do not sell as the holidays approach.

The simple truth is that those sellers who withdraw from the market at this time are making it much easier for those who continue to list, reducing competition...

And if that ...

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July 18, 2023

Market Synopsis

Market Synopsis

 

Right now our Iron County real estate market could best be described as flat.

Homes are selling quite well, certainly, but market conditions are such that we don't expect to see much of an increase in activity for the rest of this year.

A significant drop in mortgage ...

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June 12, 2023

Key Current Trends in the Iron County Real Estate Market

Key Current Trends in the Iron County Real Estate Market

The main highlight of our local real estate market right now is that it is somewhat flat overall.

As the above Absorption Rate chart shows, there has been quite a recent jump in the amount of homes on the market.

Of course some of this is seasonal, given that more ...

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April 3, 2023

Iron County Real Estate Market - First Quarter Review

Iron County Real Estate Market - First Quarter Review

The first quarter of 2023 has seen a modest but encouraging reversal of recent negative trends in Iron County.

The above graph demonstrates that the number of sales have begun to climb again, following the downward trend over the past year. This is partially explained by the recent lower mortgage ...

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Feb. 16, 2023

Great News: Mortgage Rates are Falling and Homes are Selling!

Great News: Mortgage Rates are Falling and Homes are Selling!

We're delighted to be able to bring you some really good news about our Iron County real estate market.

Mortgage rates have recently dropped to the low 6% range!

Today's typical rate for a 30 year fixed rate conventional loan is hovering around 6.25%!

This is what ...

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Oct. 17, 2022

Mortgage Buydowns Explained

Mortgage Buydowns Explained

If you're selling and/or buying a home right now, you probably don't need reminding that the average interest rate on 30-year loans has continued to climb.

Unsurprisingly, this is a key focus and concern for buyers and the biggest current objection to going ahead with a home ...

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Sept. 15, 2022

Shift... a quick glance into the past, present & speculative future

Shift... a quick glance into the past, present & speculative future

This gorgeous Cedar City property sold in October 2017 for $620,000. It's a stunning 7800 sqft, 7 bedroom, 6.5 baths, 4+ car garage mansion, loaded with every possible feature. It was listed a few months back @ $1.5M and recently expired.

Something to consider: How would such ...

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