Are you considering a move to Cedar City but cannot afford those overpriced homes? Cedar Springs is Trophy Homes newest community and we are selling 1308 SF Condos with 3 bedrooms and 2 Baths for 101,990. These spacious condos will be in the Cedar Springs community that includes 2 playgrounds, a club house with weight room, party room and pool.

This is a pre construction pricing and will not last.  Buy a great condo today and start building equity. 

If you are interested in getting more information please call Sam Dodd at 435-701-0448. Investors we will be limiting our sales to none owner occupied to 1 per 12 homes. If you are interested in this Cash Flow oppertunity please contact me ASAP!

Many people wonder if they should buy in a down market. I personally think a the down market is a great time to buy. You don’t buy stocks while they are high, you buy them when they are low and sell when they are high. Houses should be the same. Here are a few tips I have compiled to give you ideas about what you can ask for in a buyers market that wouldn’t fly in a Sellers Market.

1. Home repairs paid by the Seller. If you see some things that need fixing but otherwise the house is great ask the seller to fix or pay to fix those items.
2. Ask for the seller to pay all closing costs. This will save you the buyer anywhere from 2-4% which is big money.
3. Ask for the builder to through in upgrades at no additional cost to you.
4. Ask for the seller to carry the note or part of the note.
5. Ask for owner financing or a lease option

When you really break it down you just need to negotiate the best deal for yourself. This is why having a professional Realtor is so important. Your Realtor should help you to do these things, provide you with ideas and truly listen to you so they know what it is you are looking for.

The days of bidding wars for homes are over and people still need to buy and sell homes. You need to arm yourself with the local market knowledge that will allow you to get the best deal. I do have to warn about being realistic. I’m sorry but the sellers can’t cut there price in half, this doesn’t mean there aren’t great deals to be had but it does mean you need to be realistic, professial, and polite when making offers.

I hope this help and if you have any questions about Southern Utah real estate or about buying or selling in general please contact me. Sam Dodd at 435-701-0448 or Heather Carter at 435-559-2791 you can also reach us by clicking the contact us button.

I have a compiled a list of 8 things savvy sellers can do to get there home sold in this market.

1. Know and understand your homes value. You home is not worth its last appraisal, its not worth what the county tax assessor said, and its not worth what your neighbor 3 doors down sold his home for 6 months ago. It is exactly what someone is willing to pay for your home today. Hence, price realistically and broaden incentives, such as closing costs and throw-ins like appliances, or offer to fix minor problems. There is an old saying: “There’s nothing wrong with a home that price cannot fix.”

2. Hire a top pro former. In this market you need a qualified professional marketing your home. You should look for an agent with a great online presence as well as great sales numbers. 80% of home searches start on the internet your home needs to be one that potential buyers see. Look for an agent that sells homes not just lists them. To many agents are running around Iron County taking overpriced listings, they are doing both themselves and there sellers a major disservice. You want an agent that sells homes not just lists them.

3. Know your market, no two markets are alike. Sellers are fighting an uphill battle but homes that are correctly priced and marketed are selling. A little research can go a long way. Ask your agent for some sales trends as well as multiple recently sold and currently under contract comparables. This will help you see what is selling and what isn’t selling as well as give you a great idea about your homes true value.

4. Use the Internet. According to compete.com, total time spent online rose 24.3 percent from the fall of 2006 to the fall of 2007. People still look in the classified and real estate books but its a small minority compared to those who go online to get information. You want your Realtor to have a website that not only looks good but is also easily findable by searching Google, Yahoo, or MSN. (This website ranks #1 for all 3 search engines, and we have over 100 visits per day) Sorry for tooting my own horn but you found this site and so will other people.

5. Rent your home out. If you have rising mortgage payment and cannot sell your home without taking a large hit it may be possible to rent your home out. Ideally you would be able to cover your entire mortgage and have a little left over each month to cover any repairs that need to be done when the market swings and you are able to sell your home. You could also work out a lease to own option with any potential buyer.

6. Curb Appeal. In this market you need to not only focus on curb appeal but take it a step further to really differentiate yourself. Consider adding a fresh coat of paint. Ideal in a neutral color, you could even take it a step farther and hire a home stager. Another great idea is to get a pre-sale home inspection. This way the inspector can find any problems with the house and repair them before your buyer finds them. Obviously, you would need to disclose these problems but you could show the repair receipts and it shouldn’t be a problem.

If you would like more ideas on ways you can improve your chances to sell in this market please call or email me. Sam Dodd 435-701-0448 sam@cedarcityonline.com or Heather Carter at 435-559-2791 heatherecarter@yahoo.com

I haven’t posted in a while about the best priced townhomes in Cedar City. They are the StoneGate townhomes located in prestigious Fiddlers Canyon. These 3,4, or 5 bedroom 3 1/2 bath townhomes are the lowest priced townhomes per square foot in Cedar City. They feature amazing views, 2 car garages, backyards, and fully finished basements. If you would like more information please contact Sam Dodd at 435-701-0448. You can also view a virtual tour of the property by clicking the following link. Cedar City Townhomes

Hi,

I just wanted to write really quickly and wish everyone a Merry Christmas from the Southern Utah Real Estate team. We had a great year and we only have you all to thank for it. This year has seen some big changes but things are starting to shake out and everyone seems to be extremely happy. So anyways I just wanted to wish everyone a Merry Christmas and a Happy New Year.

This is another test post sorry but the last one didnt work so I have to keep trying.

I am testing some new plug ins for the blog. If you are looking for Cedar City Real Estate information go to some of the older posts. If you have questions for me specifically please contact or call me.

I am in the process of totally upgrading my site. I am adding a featured listing area. I am also looking to add a bunch more information on the local community such as resturants, school programs, community activities, things to do, tax information, retiring information, festavals, and more. I am going to start also doing a better job of posting to the blog and keeping it up to date with area information as well as Cedar City real estate news.

I may even get some guest authors such as other agents, mortgage brokers, tax attorneys and others involved in the real estate market. If anyone has information they would like to see on the website that isn’t currently shown please email and let me know I will do my best to make sure it is added.

I was sent this article by a friend of mine and I wanted to share it with you guys. I dont have an original source to link to but if anyone has one please let me know so I can give credit to the source.

Good news for homeowners and developers: Utah’s real estate sectors are going to make it through the market softening just fine, according to national real estate expert Peter Linneman. Linneman was the keynote speaker at the NAI Utah Real Estate and Economic Summit Tuesday, which discussed the nation’s and the state’s economy.

“I don’t see any chance of a [national] recession in a coming year,” he said. “We don’t have supply that we can’t absorb.”

A widely-published economist, Linneman is the founding chair of the Wharton School of Business real estate department at the University of Pennsylvania and was also recently named one of the most 25 influential people in real estate by Realtor Magazine.

Many buyers panic unnecessarily about the local residential real estate market when they see national media reporting a plummet in housing prices, Linneman said. While growth in Utah’s real estate market has slowed, standing inventory will be filled in the next six to 14 months. The U.S. economy is doing exactly what it should be doing, he said.

“All areas…are doing normal, except housing, which is doing less than normal, which is what it should be doing to get back on track,” Linneman said.

The real estate market is not booming as it was a few years ago, but it’s not crashing, Linneman said. Growth is down, but prices are fine, a common misunderstanding, Linneman said. Growth in the sector is slowing, which is a normal, necessary outcome after the spike of the past three years. Real estate continues to appreciate at a normal rate of 1.3 percent annually, which is a healthier, more sustainable pace than the country has previously experienced.

“The housing sector should be weak,” he said. “If the housing sector were still doing well, we’d be setting ourselves up for a bigger problem.”

Currently, 450,000 homes sit unoccupied across the nation, Linneman said. However, 25 percent are located in southern and central Florida and an additional 25 percent in Phoenix, Las Vegas and southern California. The rest are scattered fairly evenly across the United States.

“You know what that says about the rest of the housing market? It’s not in bad shape,” Linneman said. “That doesn’t mean there isn’t a little excess, but that excess gets used up in months, not years.”

Contrary to many reports, the national economy is still performing well, he said, and will continue to do so during the upcoming year. More than 89,000 new jobs were added nationally in August, according to Linneman. Looking beyond the data, Linneman said key indicators of a strong economy are airports, hotels and restaurants, all of which are bustling.

“People do not go on big holidays when the economy is in bad shape; you don’t send six employees to a conference when the economy is in bad shape,” he said.

Linneman predicted a slight recession in 2009 and 2010, largely due to the introduction of a new presidential administration, which will lead buyers to pause as they see what decisions the new president will make. He counseled commercial real estate developers to be cautious about how much speculation space they bring online in 2009 and 2010, because a recession could lead to less job growth and slower business expansion.

Utah’s economy also continues to experience growth, and the quality of life in the state is a key driver, said Jason Perry, executive director of the Governor’s Office of Economic Development, who also spoke at the event.

“By all key indicators, we have the hottest economy that exists right now,” Perry said.

According to a report from the Utah Department of Workforce Service released Tuesday, employment growth was 4.4 percent and 53,500 jobs were added during September in the state. Unemployment remains at a historic low of 2.7 percent.

“We are competitive with any state for bringing business into the state,” Perry said.

Because of this strong performance, Utah has been able to attract larger, more prestigious companies as possible move-ins. Perry mentioned a potential relocation deal with manufacturer Procter & Gamble, which would bring 1,300 jobs into the area.

“There is reason to be very optimistic about our future,” he said. “Things are happening here in the state of Utah.”

Its been a while since I wrote so I thought I would just update everyone on what is going on. A few months ago I started working exclusively for Trophy Homes. I currently sell the Stone Gate community in Fiddlers Canyon. These townhomes are selling well. We have almost sold out of our first phase and we are looking forward to moving into second phase. It is no wonder they sell so well. They are 2075 Sf with 2 car garages, backyards, basements, in the nicest area of town. Not to mention we are lowest cost per square foot in Cedar City.

Soon we will be starting our Cedar Springs Community. It will be 330 homes ranging in price from the low 100’s up to right around 200 thousand. The community will have a pool, a club house with weight room, movie theater, and party room. We will also have walking trails, and two playgrounds.