The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis. Let’s look at two measures that explain the resilience of the real estate market.Read More
U.S. new-home construction surged in July. Housing starts jumped 23% from June to an annual pace of almost 1.5 million, a reflection of rock-bottom interest rates and strong demand from buyers. Construction activity bottomed out in April amid Covid-19 lockdowns and broader uncertainty but has since mostly returned to prepandemic levels—July's pace came in ahead of the 2019 average for starts.Read More
Faculty, staff or students who test positive for COVID-19 must isolate for 14 days, participate in contact tracing and report their positive test results to the university.
Additionally, if an individual living in on-campus housing is experiencing symptoms, they should report their symptoms to the Residence Life Staff and then isolate themselves for 14 days after a positive test result. Roommates of the sick individual should self-quarantine for 14 days.
Students who live in on-campus housing and who are isolating will use the Macbeth and Renaissance apartments, where they will have internet access to continue school and where SUU Dining Services will provide meals and snacks.
Students who live in on-campus housing who have been exposed to someone who tested positive for COVID-19 will be asked to quarantine in their own apartments for 10 days. SUU Dining Services will provide meals and snacks.
Students who have signed contracts with off-campus housing entities will need to discuss their personal situation with the landlord prior to signing any contracts.
Students living off campus who test positive will be provided with instructions for self-isolation in their own homes, and the Student Health Center will regularly check in with them while they are recovering.Read More
In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains:Read More
Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low mortgage rates are actually making homes more affordable, even as prices rise. Here’s why.
According to the Mortgage Monitor Report from Black Knight:
“While home prices have risen for 97 consecutive months, July’s record-low mortgage rates have made purchasing the average-priced home the most affordable it’s been since 2016.”
Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two.Read More
Note: HOA links are added as they come available.
America has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of the most contentious in our nation’s history all continue to test this country in unimaginable ways.
Even with all of that uncertainty, the residential real estate market continues to show great resilience. Here’s a look at what the experts have said about the housing market over the past few weeks.Read More
As remote work continues on for many businesses and Americans weigh the risks of being in densely populated areas, will more people start to move out of bigger cities? Spending extra time at home and dreaming of more indoor and outdoor space is certainly sparking some interest among homebuyers. Early data shows an initial trend in this direction of moving from urban to suburban communities, but the question is: will the trend continue?Read More
The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one.Read More
The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home.Read More
A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult.Read More
“In a sign that housing stands poised to lead a post-pandemic economic recovery, builder confidence in the market for newly-built single-family homes jumped 21 points to 58 in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading above 50 indicates a positive market.”Read More
SALT LAKE CITY (AP) — A sprawling network of camping resorts soon could begin unfolding in the Kolob highlands on Zion National Park’s northern boundary, potentially resulting in an influx of overnight use in a remote and scenic part of southern Utah.Read More
SALT LAKE CITY — Sales of existing homes in Utah tumbled in May, but analysts and real estate agents said the market is experiencing strong activity and price increases as summer begins.
“We didn’t slow down, really,” said Christy Vail, with the Utah Association of Realtors. “There might have been two or three weeks where it was a little quiet, but overall, I think people are very positive and forward-thinking about home buying.”
Vail said Utah is faring better than other states and that demand is high right now, partly due to new buyers entering the market because of the low mortgage rates.
“We definitely are seeing multiple offers — that has not changed,” she said.
The Utah Association of Realtors reports that the median sales price for existing homes in Utah is up 4% this year. Nationally, the price increase is 2.3%.
Researchers at the University of Utah’s Kem C. Gardner Policy Institute said the state’s ongoing housing shortage is putting upward pressure on prices.Read More
The Wall Street Journal just released their latest monthly Survey of Economists. In an article on the findings, they reported:Read More
Cedar City • Rejected twice by Utah cities worried about the spread of the coronavirus, country singer Collin Raye finally took the stage in Cedar City Saturday night for what he called the most important show he’s ever done.
“This is more than a concert," he said as a crowd of thousands cheered. “This is a celebration of our freedom and not living in fear, and for moving forward.”Read More
All of us here at Brian Head Resort would like to extend our sincere wishes that you and your family are staying safe and healthy during these difficult times. We also want to express our heartfelt appreciation to all the healthcare professionals, first responders, and countless others who have been working tirelessly to help keep us all healthy and safe during this unfortunate pandemic.
Even though we were forced to close a bit early this past winter season, we were still fortunate enough to enjoy 117 days of fantastic skiing and snowboarding on the Greatest Snow on Earth. We want to thank all of our valued guests and employees for their continued support this past winter, and we are eagerly looking forward to a responsible return to normalcy amidst this ever-changing landscape.
IRON COUNTY — During the Iron County Commission meeting on Monday, the commission created the Iron County Economic Development Advisory Board to help the county qualify for grant funding. There was also discussion of the county’s response to the COVID-19 pandemic.
In regards to the advisory board, Cedar City Economic Development Director Danny Stewart told the County Commission that the state Legislature created the Utah Rural Counties Grant Program when Senate Bill 95 was passed in March. The program allows rural counties in the state to apply for grants for economic development – either an annual grant in the amount of $200,000 or a competitive grant in the amount of $800,000.Read More
CEDAR CITY — Cedar Highlands residents will soon vote on whether their town should remain a municipality or be formally disincorporated.
Iron County Clerk Jon Whittaker said mail-in ballots will be sent out starting early this week to the town’s 101 registered active voters. They’ll have approximately three weeks to mark their choice and return their ballots by mail before the May 12 deadline.
President Trump signs the CARES act, a $2 trillion rescue package to provide economic relief amid the coronavirus outbreak, at the Oval Office of the White House on Friday.Read More
Designed to fit into a tight spot in a suburban location, this tiny house even has a detachable draw bar to save on space outside the tiny house.
Being young and fit these clients chose to forgo the comfort of a staircase for a vertical ladder fixed to the wall - a super space saving solution.
These clients often work from home, so they've chosen to have a dedicated office space similar to the Millennial tiny house prototype, where your feet hang down below the loft into a foot well in the kitchen.
The other unique feature is the net that spans between the two lofts. It acts first and foremost as a safety feature, but it's also an awesome place to chill out and read a book!
Due to the unprecedented circumstances of Covid-19, Cedar City will implement the following changes to City services per the Governor’s recommendation to keep gatherings to under 100 people to allow for social distancing. We would like to remind residents that most City business can be conducted over the phone, on the website or via email. Please try these options before coming to City Hall.Read More
Home Price Index Highlights: December 2019Read More
Brian Head Resort is pleased to announce that opening day of our 2019-20 Ski and Snowboard Season will be this Friday, November 22, 2019!Read More
Approve renewing Staheli Rec. Management's lease to operate their ice rink on the northeast comer behind the City's Aquatic Center. Dallin Staheli/Tyler RomerilRead More
Check out the nicest homes currently on the market located in Southern UtahRead More
Beautiful brick home sits on 0.38 acres in the heart of Cedar!Read More
New home located on a low-traffic street in Ashdown Forest with beautiful stained concrete floors throughout entry, formal room/office and the large open living room/kitchen area. Wood burning stove in living room/kitchen as an extra heat source. Level entry with no stairs. Room for RV parking along side of house.Read More
Gorgeous 4 bed 2 bath home with open floor plan on .30 Acres!Read More
VIEWS from the top of the mountain across to the ski resort you can see for miles for only $254,900!Read More
Two different apartment locations for sale near SUU for $4,100,000Read More
Companies like Apple and Walmart purchase outstanding shares of their own stock in a practice known as buybacks. Over the last year there's been an increase in politicians questioning buybacks and whom they actually benefit. In December 2017 President Donald Trump signed the GOP tax cut, which took effect the next month and lowered corporate tax rates from 35 percent to 21 percent.Read More
Duplex is in a great location with beautiful views of the mountains nearby and close to schools, shopping, etc! Two story duplex with living, dining, kitchen, 1/2 bathroom all on main level and upstairs includes 3 bedrooms, 1 full bathroom with doorway into hall and into master bedroom as well. Laundry area upstairs also. block wall surrounding backyard area's.Read More
The housing crisis of the last decade was partially caused by unhealthy levels of mortgage debt. Homeowners were using their homes as ATMs by refinancing and swapping their equity for cash.Read More
A year ago, several experts predicted the new tax law would cause a slowdown in the housing market. So far, the limitations on mortgage-interest and property-tax deductions haven’t had a negative impact. Instead, rising mortgage rates and home prices are doing more to put a damper on the market.
Rare fourplex in the middle of Cedar City. Close to schools, shops, and food.Read More
CEDAR CITY — The city-owned water tank atop Leigh Hill needs a new coat of paint, almost everyone in attendance at Wednesday night’s Cedar City Council meeting seems to agree. But whether the tank will continue to display the name “Redmen” and a silhouette of a Native American chieftain wearing a headdress remains to be seen.Read More
A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.Read More
Super clean home on quiet street in need of a new owner. Home offers a great opportunity for new owner to stamp their own design and style throughout. Partially finished basement with entrance has great potential for so many uses.Read More
Growing your own fruits and vegetables in a backyard garden is a fulfilling way to spend free time and eat healthier. Choosing easy items like lettuce, tomatoes, cucumbers, squash, and melons can help ensure your time toiling outdoors is worth the effort. Here are tips to successfully grow each type of produce.
If you want almost instant gardening gratification, try planting some lettuce. Lettuce is an easy, fast-growing plant that comes in several varieties. Try planting some romaine, iceberg, and arugula for a good variety of lettuce types for your salads, burgers, and other summer recipes. Also, consider planting your lettuce in intervals so you’ll have fresh lettuce ready to harvest all season long.
A vine-ripe tomato from your backyard is almost unrecognizable as the same fruit you get from a grocery store. Purchasing tomato starters is a good way to make sure you’re ready to harvest before the end of growing season. Plant your tomatoes in a spot that isn’t too windy and purchase tomato cages to help the plants grow strong.
Cucumbers are great because they produce a lot without requiring much tending. Make a mound to plant your cucumber seeds in to encourage sprouting and use several seeds for each group. Just remember that cucumbers need a good amount of space to grow and spread, so plant according to the directions on your seed package.
Another easy-to-grow garden staple is squash. Like cucumbers, squash need room to grow. Be sure to leave enough room between your squash plants and other vegetables. Once you harvest, squash is great on the grill, in casseroles, and in salads.
Melons take a while to grow and ripen, but they’re worth the wait. Plant a few different varieties to see what grows best in your yard. Just remember that melons need plenty of sunshine and should be ready to harvest in late summer.
If your family needs more room to grow, whether it be vegetables or more kids, give me a call! I can help you find a home to suit your growing needs!Read More
Six two bed 1.5 bath units, 100% occupancy, washer and dryer in each unit, each unit has a fenced backyard and balcony.Read More
What is a 1031 Exchange? Unless you have been in Real Estate for a while, you may not be familiar with the concept of a 1031 Exchange.
A 1031 Exchange is a critical technique that every serious Real Estate Investor and Realtor must know! Imagine.. what would you or your clients life could escape taxes on your residential income property?Read More
Tune In To View Live Stream of Cedar City Council MeetingsRead More
Gorgeous Redwood home in Fiddler's Canyon! This home features 5 bedrooms & 3 bathrooms with a wood burning stove & a deck. Basement walks out to a fully landscaped & fenced in yard. Includes a 2 car garage, 2 car covered carport & enclosed storage shed!Read More
Great property to have your horses. Fully fenced, work shop, shed, barn that needs a little TLC,Read More
Prime Location in Downtown Cedar City only a few blocks from SUU on .38 acre lot.Read More
Mike's Sprinkler & Patio Paving DesignRead More
Gorgeous Redwood home in Fiddler's Canyon!Read More
One acre in the Cedar City limits with animal rights! This recently remodeled, 3 bed 2 bath home has been very nicely updated with new countertops, new bathrooms, fresh paint, flooring Read MoreRead More
Incredible energy efficient ICF construction home on 5 acres with 360-degree valley & mountain views in beautiful setting with endless outdoor adventures at your doorstep!Read More
2127 N Buckboard Drive, Cedar City Utah 84721
Market Summary for January 2019Read More
Home prices were consistently up again in most markets in 2018 but at reduced levels
compared to recent years. High demand for few homes for sale fueled price increases,
but evidence is mounting that inventory will finally improve in 2019. This may apply
some downward pressure on prices for beleaguered home buyers. A fourth interest
rate hike by the Federal Reserve in 2018 spooked the stock market to close out the
year. The Fed has indicated that the number of rate increases in 2019 will be halved,
which may be of little comfort to an already compressed consumer.Read More
BY JEAN FOLGERRead More
Offering short-term rentals through Airbnb is growing in popularity among homeowners and investors. And it’s no wonder—with Airbnb attracting guests from all over the world, hosts in major cities profit by an average of $20,619 annually, according to iPropertyManagement, a research and information site. In the U.S. alone, booking have increased 45 percent in the past year.Read More
Home is to be SOLD AS IS. Property has a good well and 1.75 Acre feet of water rights (73-2201 and 73-2194) verified. Home is in need of repair. Great fixer upper project, sold as is. CASH ONLY! Home is in foreclosure and offer must be accompanied with verified funds document. 2.4 Acres. Please make offer!!! Price is pending 3rd party approval. Home is Gutted.Read More
Coming Soon To An MLS Near You! - Centrally Located Twin Home!Read More
8 Tips To Whip Your Home Into Shape & Wow Buyers:
Selling your home probably one of the biggest financial transactions you will undertake in your lifetime, and the decisions you make when deciding on a price with a buyer can have a significant impact on how much money you walk away with. These negotiating strategies will put you in the driver's seat and help you get top dollar in any market.Read More
The simple truth is that homes with great curb appeal and homes that are super clean, well maintained, and have pleasing decor sell faster and for more money than homes that don't measure up.Read More
There is a principle in real estate appraisal called conformity that says that all homes in a given area should be of similar size and value. If you add on to your home and, in effect, over-build the neighborhood, the value of the smaller homes will bring your value down regardless of how much you have invested in the property.Read More
If you’ve bought a home and put less than a 20% down payment down, you’re familiar with mortgage insurance. It’s that added amount on your statement every month you wish you could get rid of. The good news is you might be able to.Read More
For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.Read More
Centrally located home down the street from SUU & historic downtown Cedar City.Read More
The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place.
To ensure a hassle-free process, here are 5 Tips to keep in mind if you are considering new construction:Read More
What does owning a pet say about you? Living with a furry (or scaly) friend could mean that you're a college student craving companionship, that your young children are in need of a four–legged playmate, or that you're an empty-nester with an affinity for fish. But what if owning a pet could predict if you're more likely to rent or own a home?Read More
If you've been thinking of selling your home, you'll want to keep reading.
That's because this message will show you how to get a significant advantage over a lot of other home sellers.
I'll explain how in just a second. But first, let me give you a bit of background on the current conditions:
1. Mortgage rates have hit a 7-year high.
Several weeks ago, the 30-year fixed mortgage rate broke through the 4.6%-mark, the highest level since May 2011.
This is part of an ongoing upward trend in mortgage rates, which started over a year ago.
The thing is, in spite of the rate increase, mortgage applications spiked in September. This is a signal that buyers expect rates to go up even more in the near future—something that's very well possible given current conditions.
2. Affordability is dropping, & demand might soon follow.
For the past several years, home prices have increased at twice the speed of inflation.
For a while, this didn't have too much of an effect on the market, because there was so much pent-up demand.
However, the continued price growth & the mortgage rate hikes might finally be getting to buyers.
Affordability is suffering—an estimate from early summer put current home affordability levels at a 10-year low.
This seems to be causing demand to soften as well. For example, the number of people requesting home tours has fallen by 6.1%, according to one measure this summer.
3. More home sellers are reducing prices.
Not surprisingly, the combination of sustained high prices, increasing mortgage rates, & a drop in demand is finally starting to have an impact on the real estate market.
While there are still no major signs of a real estate slowdown yet, there are some worrying indicators.
Crucially, more sellers are now reducing prices. More than a quarter of homes listed as of September 16 had a price drop.
What does this all mean for you?
In short, if you've been thinking of selling your home, then the time to act is now.
In spite of the easing of demand, there are still many hungry buyers on the market & prices remain near all-time highs.
This means you can sell your home quickly & for top dollar.
However, all of the reasons I listed earlier mean this situation might not hold very long.
Demand might slack off even more, & then many more homeowners might decide to enter the market, driving down prices & really ushering in a buyer's market.
That's why it can make a lot of sense to move early—before this kind of awareness reaches the majority of homeowners.
If you are considering selling, you can get started now by getting an idea of what your home is worth in the current market.Read More
Today I wanted to share the #1 Mistake Homeowners make when choosing a Realtor… which is choosing the Realtor solely based on the Realtors recommend list price.
You have the basics of recycling down. You may think there is no more that you can do, but there is!Read More
Once you have qualified for and been approved for a construction loan, the lender begins paying out the money they agreed to loan to you. However, they are not just going to give the builder the cash all at once. Instead, a schedule of draws is set up.
Construction loans enable a new home to be built through the duration of construction. They are reflective of the time needed to build your home, and typically range from six months to a year. Once you have secured a construction loan, your lender will pay your builder after each interval of work is completed. Once construction ends, your loan repayment begins. Many homebuyers choose the convenience of having their construction loan combined with their standard mortgage plan, in something called a construction-to-permanent loan. This eliminates the need to refinance after construction and undergo two separate closings. Your builder will outline how much money is required to build your home, segmenting expected costs into intervals of work. Your lender will compensate your builder after each interval, usually per month, once they have independently verified that the designated work has been completed. With most construction loans, you only pay interest on the amount of money that is drawn out each month. You will begin to repay your lender for the bulk costs after your home is completed. If the project is builder-financed, the construction loan is the builder’s responsibility and the buyer will not need to pay anything at all until the end of construction. Construction loans work differently than traditional home loans. If you need help buying a home that is already built, whether new or old construction, a traditional home loan is right for you. If you want to build a home from scratch on your own lot of land, or buy a prospective home within a builder’s development, a construction loan is the way to go. 20%–30% down payment required High interest rates Incremental loan disbursements More complicated to qualify for, and few options available Bank issued Must have specific building plans, construction contract, and cost estimate to apply 3.5%–20% down payment required depending on mortgage type Low interest rates Loan disbursement in one lump sum Easier to qualify for, and more options available Mortgage-company issued Must only have essential personal finance information to apply
What is a construction loan?
How do construction loans work?
When do you pay?
Compare Construction Loan vs. Traditional Home Loan
Traditional Home Loan
Construction loans enable a new home to be built through the duration of construction. They are reflective of the time needed to build your home, and typically range from six months to a year. Once you have secured a construction loan, your lender will pay your builder after each interval of work is completed. Once construction ends, your loan repayment begins.
Many homebuyers choose the convenience of having their construction loan combined with their standard mortgage plan, in something called a construction-to-permanent loan. This eliminates the need to refinance after construction and undergo two separate closings.
Your builder will outline how much money is required to build your home, segmenting expected costs into intervals of work. Your lender will compensate your builder after each interval, usually per month, once they have independently verified that the designated work has been completed.
With most construction loans, you only pay interest on the amount of money that is drawn out each month. You will begin to repay your lender for the bulk costs after your home is completed. If the project is builder-financed, the construction loan is the builder’s responsibility and the buyer will not need to pay anything at all until the end of construction.
Construction loans work differently than traditional home loans. If you need help buying a home that is already built, whether new or old construction, a traditional home loan is right for you. If you want to build a home from scratch on your own lot of land, or buy a prospective home within a builder’s development, a construction loan is the way to go.
20%–30% down payment required
High interest rates
Incremental loan disbursements
More complicated to qualify for, and few options available
Must have specific building plans, construction contract, and cost estimate to apply
3.5%–20% down payment required depending on mortgage type
Low interest rates
Loan disbursement in one lump sum
Easier to qualify for, and more options available
Must only have essential personal finance information to apply
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