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Selling My Home
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Saint George Utah Real Estate Sales Slumped
Yet, some home owners don’t really have a choice. Life’s circumstances change all the time. In some cases, conditions beyond our control can force us to have to make decisions that we thought only happens to other people. But, things do come to pass.
Here in Southern Utah lots of folks have had to face crazy problems with their mortgages and were forced to prematurely sell their Saint George real estate. What seemed like a great market in 2005 turned into a nightmare when the bottom fell out. All of sudden, the Saint George MLS swelled with homes and building lots for sale. Just like that, mortgages became more costly and in some instances loans were ‘called’. You know the rest of this story, even if you are not from Southern Utah or Saint George.
Owners were compelled to sell their Saint George homes
But, there are other circumstances that might prevail and compel a property owner to sell at whatever price will work. For example, one might have to move out of Saint George due to a job opportunity in another Utah location or even out of state. In the old days, a company would relocate a key employee, and might even buy that persons house from them if the markets were lousy. Those days are pretty much gone, my friend!
In a really wonderful world, this person might have to ‘take it on the chin’ on the sale of their St. George real estate if they are heading some place where there is a good buyers market in progress. We’ve seen this happen several times right here in Saint George, Utah over the middle months of 2009. Lisi & Associates sold a beautiful house in the Castle Rock neighborhood to some nice people from Rochester, New York. The owner of the house ended up pricing her home as if it was a ‘short sale’ when it wasn’t in peril, in order to get a workable offer, and that’s when our New Yorkers showed up.
However, the seller ended up with a ‘killer deal’ herself in a suburb of Henderson, Nevada and she almost broke even. She was lucky, for it does not always turn out that well for sellers, or buyers for that matter. In this case, everyone was happy except for the next door neighbors whose homes just went down in value.
We run into a lot of people in a buyers market who want to sell, and the first thing they say sometimes is, “Not on your life!” And, here’s what I tell them. “If you have no real reason to sell your home at this time, and no commitment to get out of Saint George, Utah, then keep your house and wait for the market to shift back in your favor.”
We have “lost” many a listing upon giving this advice, but that’s alright. We’d rather go back to those sellers and try to pick them up as the second listing, than to pound a sign in the ground and buy a lockbox for the doorknob just to have their home sit on the MLS for months on end.
If it’s not the right time, keep your Saint George real estate
The lesson here is this. If you have to sell your house in a buyers market, be 100% committed, and expect to price your house to compete with the ‘short sales’ and the foreclosures that are going on all around you. If you do not have to sell your house, keep it! If you need to know where your house stands in the contest should you throw it in the ring, call us at Lisi & Associates for an honest opinion. We will stay with you until the market starts to come back in your favor, and will then get it out there and sell it for you. Sell in a good market? Yes. Sell in a down market? Not on your life. Just wait, your day is coming.