Why Should You Be a Pre-qualified Buyer?

There are many great Cedar City area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (435) 572-4243 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I wanted to talk to you about why it’s so important for buyers to be pre-approved before they start shopping for homes and especially before they make an offer. The first reason is so they know what they can afford and what their monthly payment will be on different loan amounts. Also, with lending regulations tightening, it’s always nice to speak with a lender beforehand to work through any issues before going out and spending a bunch of time and making offers on homes you may or may not be able to afford.

After being pre-approved and you submit an offer on a home, you’re offer will show stronger than a person who hasn’t been pre-approved. This is especially helpful in multiple offer situations, as we have been familiar with as inventory shrunk, because it shows you have taken care of the financing.

Click the link above if you’re interested in searching for homes and give me a call at (435) 701-0448 if you’re looking to sell. Thanks and have a great day!

What Did You See in 2013?

Today I wanted to recap the real estate market in Cedar City for 2013 and also give you some insight to what might happen in 2014. For the entire year, 2013 was a seller’s market but the market has gotten stronger and stronger as the year has progressed. Our average sales price rose from $119,000 to $149,000 which accounts for a 25% increase. Our inventory went from 623 homes on the market down to just 194 which was a drop from an 11 month supply down to a 2 ½ month supply of homes. We are hoping for another year like this in 2014.

Interest rates dropped all the way until January when the Fed made the announcement about tapering the purchases of bonds. The interest rates have crept up since June going from 3.5% to 4.5%. They may have risen, but rates are still very low.

In 2014 I expect continued growth and the reason being is that Syberjet has decided to build a manufacturing plant here in Cedar City and will add about 1,500 jobs. Part of their package included an extremely large tax break but they have to hire at an average of $50,000 a year. For a town of 30,000 people, we will see huge growth as people move in to fill those jobs. There is also an LDS Temple being built, the iron mine out west is investing in a large smelting plant and other small to mid-range businesses starting up.

Thanks and have a great day!

Should You Accept the First Offer?

Today I wanted to discuss with you about whether the first offer is the best offer. I’ve found that in many cases, the first offer is in the best offer. The reason being that with so much technology available, buyers have more information than ever before and often know of other homes on the market before some agents do. Buyers sign up for text and email alerts to be notified when homes are being listed and are sometimes prequalified. When you combine these factors, the buyer typically presents a strong first offer.

Also, when these buyers make these first offers, it is usually within the first weeks of the home being listed causing the buyers to be more aggressive in their offer.  When homes sit on the market for few months with a few price reductions, buyers are more apt to make low-ball offers. I’ve found that when buyers ask how long the home has been on the market for, they are very interested in the home and how to gage what kind of offer they can make on the home. Consider all offers, but generally the first offer is the best offer.

If you are interested in selling your home, please check out my home value report or give me a call. Thanks and have a great day!

7 Tips for Prepping Your Home for Sale

Today I wanted to go over the seven things you can do to prepare you home for sale. The first thing that I always recommend is increasing your curb appeal. This can be done by cutting your grass, power washing your driveway and home (if you have vinyl siding), painting your front door, weeding your flower bed and planting fresh flowers. A good first impression is essential. Another thing that is very important is making any/all small repairs. If buyers notice small things that could have easily been fixed, they often wonder what else could be in store for them. Giving your home a thorough cleaning, even by a professional, because you may not see the same thing a buyer would. Having a friend come over and truthfully tell you what needs attention is a great choice as well.

De-cluttering your home is a necessity as well. Making storage spaces and rooms look as big as possible; renting a storage unit can help remove things from your home. Do your home a favor by opening the blinds and letting the natural light in. This tends to give your home a “warmer” feel.

If you have pets, make sure you remove all traces of them as buyers could be allergic to them. Removing smells like smoke, musty laundry, food or pet smells is important as well. Burning a candle or baking cookies tends to do the trick. If you are interested in selling your home, please check out my home value report of give me a call. Thanks and have a great day!