Mortgage rates are currently nearing all-time lows.

Nervousness in speculative financial markets is, conversely, generally good news for mortgage rates and there are now widespread predictions that they could descend below all-time record lows!

The timing simply could not be better, as spring approaches and many sellers and buyers enter the market.

Here in Iron County, we're tracking some interesting trends that demonstrate how great buyer sentiment already is, with rates having been at low levels for some time now. Last month, for example, we say a dramatic drop in the average number of days a home is on the market before it sells.

We're also seeing the level of inventory of available homes for sale take a similarly spectacular fall in recent months. This creates a wonderful environment for sellers with much reduced competition and far more robust asking prices, with the distinct possibility of multiple offers as more and more buyers search for homes in the coming weeks.

It really is a win/win for buyers and sellers alike right now, so why not contact us today to discuss the best way for you to take full advantage of the situation.

On the face of it, if you're selling a home why on earth would you want to carry out last minute home improvements that you'll never get full value out of?

Of course there is no cookie cutter answer here.

Much depends on the current condition of the home. Those sellers with highly presentable homes that can be said to be virtually "move in ready" arguably only need to do some tidying and touching up to put themselves in a great place to achieve top dollar on the sale.

Things get more complicated, however, if the home is in need of more extensive renovations. At that point, a decision to carry out a lot of work should be seen as an investment in getting the best possible return and making the property competitive with similar homes in the area.

You do, however, need to maintain a sense of proportion to the renovations. The most important thing is to make the home look clean, fresh and inviting, especially in key buyer trigger areas like kitchens and bathrooms. A lot can be done to make this happen inexpensively and, if you're able to do this work yourself, then costs aren't such a key consideration.

In many instances, some areas of the home are extremely presentable, while others may have fallen into a bit of disrepair as they are no longer used. What you need to avoid is injecting the thought in buyers' minds that making these areas good will be a costly process. A good example might be a deck that you've not relaxed on for years that's in serious need of some TLC, or maybe rooms that have become tired or neglected since the kids left home.

In terms of kerb appeal, some basic landscaping can be a great idea to create that wow factor as buyers drive up to the property.

The best advice is to determine a budget and don't go crazy making unnecessary changes. There are also many things you can do which won't cost hardly anything, such as a thorough home declutter and touching up paint as necessary, etc.

And we're more than happy to offer free advice on the best ways of staging your home, so why not contact us today. We'd love to help.

Earlier in the month we wrote about the advantages of not waiting until Spring to list your home.

Since then there have been a couple of important developments making early entry in the 2020 real estate market even more attractive.

It has been widely reported in the past few days that mortgage rates have dipped to the lowest levels in January since 2013. And it has just been announced that rates are also at a three month low.

This can only enhance already high levels of buyer sentiment, as borrowers seek to lock in a very low rate while it is still available to them.

While some sellers will incorrectly think that there's no rush to list and will wait until the weather improves, many buyers are taking a very different view and are acting now before any possible change in a very, very favorable situation.

Why miss out? And don't forget that the current low rates will make any borrowing for your next home cheaper.

Please don't hesitate to contact us today to discuss the best forward selling strategy for you, taking all your individual circumstances into consideration.

It's our first blog of 2020 so we'd like to wish you a very happy New Year filled with love, health and happiness.

And if you're thinking of selling your home in the coming months, there really is no time like the present.

It was a busy end to the year in Iron County real estate, but the fact is that a lot of sellers missed some great opportunities by temporarily withdrawing their homes from the market.

Most of these people have yet to re-list and a lot of them, plus many new entrants to the market, won't be putting their homes up for sale until the approach of spring.

Playing a waiting game is a questionable tactic when we still have highly motivated buyers actively looking for homes, not least because they can still take advantage of very low mortgage rate opportunities.

Better yet, if you list now you'll have fewer similar homes competing with yours for attention and your asking price is likely to be more robust than when the usual flood of listings arrives on the market as we get closer to spring.

So why not consider giving your sale the early green light. Contact us today to discuss the exciting opportunities in January.

Wishing you a New Year filled with love, health and happiness!

Thank you for all your support and we're excited to help you with your real estate goals in 2020.

Best wishes
Jared, Cheryl, Wyatt and Axel Zimmer

A stunning new Cedar City listing. A place of peace. This incredible property currently holds a Yoga/Wellness Center. 7.75 Mi W of Cedar, on 20.65 acres of treed hilltop land. There are 5 separate units: 4000 sf studio space, 900+ sf Bungalow, Large Yurt with commercial kitchen, 2 glamp sites + 17 other campsites. Partially off-grid with solar, electricity & heat. This is a very unique opportunity, must see! $1,200,000 - click here for more details and photos.

This is a very special time of year and we'd like to mark it by taking this opportunity to thank you and all of our clients for entrusting us with your real estate needs.

It is truly a privilege and an honor to serve you and we wouldn't have achieved another very successful year without your highly valued and appreciated support.

The whole team at Jared Zimmer Real Estate wishes you and your family a wonderful Thanksgiving season.

Best Wishes,
Jared, Cheryl, Kassy and Kelsey

First time home buyers have been making headlines recently.

Freddie Mac (The Federal Home Loan Mortgage Corporation) recently reported that, so far in 2019, 46% of the mortgages that it has purchased this year have been from first timers!

That is a staggering statistic and ample proof that the highly competitive mortgage rates we are continuing to see are really having a motivational effect for many people, who are finally breaking the ever more costly renting cycle and locking in an ultra low rate for the life of their home loan.

Inevitably, of course, there is a positive knock-on effect throughout the entire home selling chain. A lively entry level effectively causes a cascade effect through each property sector.

As if this weren't enough good news, the credit rating agency Transunion has produced a new report that says there will be around 8.3 million first time buyers looking to apply for a mortgage in the next three years! This compares with 6.6 million between 2013 and 2015 and 7.6 million between 2016 and 2018.

So it looks like we can look forward to a sustained period of new energy in the housing market!

This is another great reason why it's an excellent time to be selling, so why not contact us for an informal chat concerning your best options!

We recently took a look at monthly average mortgage rates for 2019, provided by Freddie Mac, and noticed a significant trend in 30 year home loans:

January - 4.46%
February - 4.37%
March - 4.27%
April - 4.14%
May - 4.07%
June - 3.80%
July - 3.77%
August - 3.62%
September - 3.61%

As you can see, the average monthly rate has declined every month so far this year!

It's difficult to overstate the positive influence this has had on our real estate market during the year. Given that, other than the occasional brief upward spike, rates have continually fallen, month-on-month, means that positive buyer sentiment has significantly strengthened as the year has progressed.

Indeed, in a recent Forbes.com report, it was noted that first time buyers are really responding to this trend, with 46% of home loans purchased by Freddie Mac this year being for first timers - the highest figure for over 20 years!

A vibrant entry level sector has an enabling effect throughout the rest of the house purchasing chain, so this is fantastic news.

Of course there's no guarantee how long rates will continue to show monthly average falls, so we can confidently expect buyers to be out in force in the coming weeks, as they try to lock in an ultra-low rate while they know they still can.

This is an extra motivation this year, on top of the usual great reasons for buying in the fall, including the upcoming job relocation season, moving in before the holidays and closing the home purchase before year end for tax reasons.

Why not contact us today for an informal discussion of how best to capitalize on this great opportunity.

While some home sellers very incorrectly take the view that the fall/winter isn't a great time to sell, incredibly it would seem that some agents are of the same opinion...

Every year, at about this time, it's noticeable that some agents start to take their foot off the gas for their clients. They presumably feel that they've earned sufficient commission for the year and decide that a nice long holiday, or at least coasting with minimal effort, stretching right into the New Year, is preferable.

It's possible for an agent to get away with this if his/her clients unwittingly think that they unlikely to sell their home until the spring.

Nothing could be further from the truth, especially this year when we have very, very low mortgage rates, with absolutely no guarantee that they'll still be available in 2020. This means that buyers are highly motivated to close on a home and lock in a low rate while they still can. They are certainly not hanging around to see what happens...

Apart from that, this time of year sees other unique positive factors coming into play. Some buyers will be trying to move in before the holidays, so they can entertain and enjoy their new surroundings. Others will be keen to conclude their sale before the end of the year for tax reasons and we are also heading for peak job relocation as the year turns. Additionally, buyers tend to be in a very emotional and positive frame of mind, which means they are much more likely to make an offer.

But if your agent is effectively absent, then how can you take advantage of what has been a very busy last few months of the year in recent times!

A top producing agent, on the other hand, works tirelessly throughout the 12-month real estate cycle, making the same consistent efforts for clients that involve talking with potential buyers, buyers agents and other key influencers every single day and maintaining a high level marketing presence.

That's because seasoned and successful agents have worked this cycle many times and know that the period approaching the end of the year can yield fantastic results both for their clients and themselves.

Now is therefore the time to quiz your agent on what the actual plans are to get your home sold in the coming weeks. Please feel free to reach out to us and discover what we do all year round to average over 130 sold properties per year, compared with the average agent barely selling one home per month.