Mortgages

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 ...

View More
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 ...

View More
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 ...

View More
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 ...

View More
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 ...

View More
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 ...

View More
July 18, 2022

Today’s Real Estate Market: “Price War & A Beauty Contest” - Mike Ferry

Today’s Real Estate Market: “Price War & A Beauty Contest” - Mike Ferry

We are now beginning to see some of the nationally publicized negative effects of the current real estate market in our area.

As our above graphic shows, absorption rate for June shows a dramatic increase, compared with June 2021, in terms of the amount of home supply in the market ...

View More
June 29, 2022

Succeeding in a Changing Real Estate Market - Price and Condition are Key!

Succeeding in a Changing Real Estate Market - Price and Condition are Key!

Succeeding in a Changing Real Estate Market - Price and Condition are Key!

Succeeding in a Changing Real Estate Market - Price and Condition are Key!

The current pressures on the real estate market are all over the news.

Rising inflation and mortgage rates are rapidly changing what buyers can actually afford and today's home seller has to face some new realities.

The astonishing price growth that sellers were enjoying not so long ago has ...

View More
June 15, 2022

Picking a Winning Strategy in a Real Estate Market That's Full of Contradictions

Picking a Winning Strategy in a Real Estate Market That's Full of Contradictions

Following real estate news developments nationally can be a disconcerting experience for many right now.

Just this week, we've seen mortgage rates break the 6% barrier for a 30-year home loan, and continuing to rise from there! Home buyers are also having to cope with price inflation and, very ...

View More
May 31, 2022

Tracking Key Trends to Understand What's Influencing Our Real Estate Market

Today we'd like to show you a couple of graphs that help to illustrate what's happening in real estate at the moment.

Above you can see how inventory of available homes for sale in Utah has risen in 2022, compared with the notably lower figures for year-to-date in ...

View More