The St. George Real Estate Market

This blog is dedicated to tips and information that pertain to the real estate markets of Southern Utah.  Whether you are an out of state buyer that is coming to Southern Utah for its natural red rock beauty and looking to purchase a property, or you are a seller that currently owns a home in one of the many towns throughout the St. George metro area and are in need of relocation, these posts are designed to help YOU!

We will post information and articles that will provide assistance and guidance for any who are looking to buy or sell real estate in any form.  We will try to always keep this information as relevant as possible.  We specialize in the buying and selling of homes and other residential real estate services, however, we also provide services both in the land lease, commercial lease, land brokerage, and Commercial real estate buyer representation.  

Please contact Shaffer Team Real Estate Services with any specific questions you may have.

Nate Shaffer

Shaffer Team Lead Agent - 435-200-1991

May 26, 2020

Making the Most Out of the Housing Market During COVID-19

Wow – what a time to be alive. Over the past decade or so, we’ve seen the housing market shift several times due to changes in national economic health. However, COVID-19 has proved to change that dynamic of the buying and selling of homes at a more drastic level than ever before. We’ve never seen a shift that directly affects the nature of how we navigate through the housing market.

Admittedly, one of our favorite interactions is showing a client a beautiful space. It allows us to develop meaningful relationships with them and get to know the kind-hearted people within our community. As of late, we’ve had to adapt to the current needs of our clients and offer virtual showings of houses through video-uploaded walkthroughs and FaceTime showings. Even though home buyers and sellers are navigating the market in a different manner, we are still seeing a drive to purchase and sell homes. 

 

Aside from that, we’ve noticed other changes within the housing market that you should keep your eye on.

 

Stock Market vs. Housing Market

Unique to its own, COVID-19 has not directly affected the housing market in relation to the current economy. So, try to avoid the assumption that if one markets is plummeting that the other one must be as well. It has been quite interesting analyzing this relationship as usually one dictates the other. The Shaffer Team is grateful and excited that we will still be able to help others find their dream home and sell their properties in this time of economic uncertainty.

 

Mortgage Rates

 

In a recent report from Freddie Mac, it was found that even amid the pandemic, purchase demand remains strong. This is good news and bad. The positive side to this is that mortgage rates are and will likely remain low. The downside is that people are wanting to purchase homes at the same rate as before which creates a challenge when putting in offers. The bottom line is that you it is understandable if you are feeling anxious or hesitant when it comes to purchasing or selling your home during this time. The main takeaway is to remember that currently the housing market is still strong.

 

Looking Ahead

 

As we’ve seen in the various recessions that the U.S. has undergone, we will likely see a tough housing market in a few months. Although many homeowners have serious home related equity, the cost of houses will seemingly plunge as income becomes harder to obtain. So if you’re on the buying side, you’re in the clear; but if you’re selling, let’s generate a game plan now. 

 

Contact Us

 

We hope that everyone is staying safe and healthy during this historical time in our lives. The Shaffer team consists of real estate professionals in Southern Utah, specializing in selling homes. We work with talented photographers, stagers and lenders to ensure your home buying or selling process is efficient and smooth. Call us today to get started at (435) 200-1991. 

 

Posted in Home Trends
May 21, 2020

Housing Trends for Millenial Home Buyers

Housing Trends for Millennial Home Buyers

The Millennial generation has changed the entire landscape of real estate as an industry. Due to economic constraints relating to school loans, credit card debt, and the hardship of saving for a down payment, Millennials are buying homes slower than previous generations. Paired with these financial shortfalls, this generation is also getting married at a later point in their lives compared to previous generations. Interestingly enough, although they are unable to purchase homes, this generation has shown to be the most eager to become home owners. 

 

So now that we know they are eager, let's take a look at trending features of houses that Millennials are crazy about.

 

Styles of Homes

Millennials grew up on this idea of recycling and have now brought this ideal into their homes. They are purchasing these houses with the intention to remodel and create a more modern space. They respect the architecture and art but love to add their own stylistic flare.

 

Mid-Century

 

Millennials are loving Mid-Century homes that were built somewhere between the 1940's and early 1960's. These homes are proving to be the most enjoyable to renovate as they typically have geometrical architectures with open spacious floor plans. The large spaces allow for additional rooms to be developed and restructuring of existing floor plans.

 

Pre-World War II

 

Most Millennials grew up visiting their grandparent's homes that were developed in the late 1920's and 1930's. They were surrounded by vintage art, nostalgic black-and-white posters, and LIFE magazines for most of their childhoods. Millennials are falling in love with these brick and wood homes that give them a lookback to a rustic era.

 

The Bottom Line

 

Millennials are choosing to recycle old styles to modernize living spaces. On the other hand, Millennials are also loving the idea of tapping into their creative side in this era of innovation. They are rolling up their sleeves and planning for the development of their own dream homes. 

 

Quirky Room Trends

 

Media Rooms

These are rooms that formerly were "nice-to-haves" but have now become more of a "need." Millennials are looking for creative ways to save money in the long haul while keeping activities exciting. They are loving the idea of bringing their favorite teenage hangouts to their homes; an in-home movie theater. These rooms may have projector screens, popcorn machines, and deep leather recliners (with cupholders!). 

 

Workout Rooms & Gyms

In this digital age, Millennials are always trying to find ways for themselves and their families to disconnect from technologies. An at home gym allows the family to get together and exercise to maintain active lifestyles. 

 

Game Rooms

 

 

As mentioned, Millennials are loving recycling and bringing back nostalgia from their childhoods. Many in this generation are collecting old arcade games, vintage 90's gaming consoles, and board games, and creating a fun and vibrant game room for the whole house to spend time in. The game room is a great middle ground for younger kids to have their "play" space and for the adults to have their time for fun.

 

Call Us

Contact the Shaffer Team to help with all your real estate needs. We are a team of professionals located in Southern Utah, specializing in selling homes. Call us today at (435) 200-1991.

Posted in Home Trends
July 24, 2019

Dream Homes in St. George

Dream Homes in St. George

 

We have a confession to make. We’re sure that there are many lovely homes all across the country, but we firmly believe that you won’t find a more suitable home than in St. George. We’ve lived in the area for quite some time now and the more the city grows, the more creative homeowners get with their architecture. Here’s what our dream home in St. George will most likely include:

 

Pools, Pools, & More Pools

 

 

One of the most common architectural pieces that you’ll find in the St. George are pools that are built with authentic red rock. Many homeowners put a lot of time, effort and resources toward bringing in rocks from local places to the area. Depending on the scale of the pool, you will find that they have sandbars, waterslides, and hot tubs - perfect for a family weekend.

 

 

Uniquely the Same

One quality about the homes in the surrounding St. George area is that many of them appear to look the same. Cobblestones, grand entryways, and front-facing balconies. But each home has its own special attribute with its own telling story. As St. George continually grows and new neighborhoods are developed, you see that each new home is adapted in new ways. We love visiting our friends’ homes as each is built and catered toward their family aesthetic. 

 

 

Backyards are the New Outdoor Park

 

A backyard is an important aspect to a sustainable home here in St. George. As you view many listings you will find they are complete with a pool (obviously!), a grassy area, a trampoline, and sometimes even a rock wall. Homes in the area promote athletic play and are great for hosting get-togethers with neighbors because of its spacious feel.

 

Connect with Us!

Contact the Shaffer Team to help you with all your real estate needs! We are a team of professionals located in Southern Utah, specializing in selling dream homes. Call us today at (435) 703-8885. 

 

 

Posted in New Developments
July 16, 2019

The Worst Home Renovations

 

 

When the first thought of I want to movepops into a homeowners head, they instantly look around and think wow, we have a lot to do. This is where many problems begin, right after this first thought. More times than not, homeowners jump the gun with over excessive remodels that arent actually necessary. Not only can it ruin an aesthetic of a home, but it can be very costly. The Shaffer Team is here to help you avoid these types of projects so you can shorten the length of a sale and help you keep personal costs low.

 

Upscaling Your Bathroom

 

Believe it or not, bathrooms are one of the finest selling points of a home. The biggest takeaway before considering a bathroom upscale is to ask yourself, If I didnt renovate the bathroom when I lived here, do I need to remodel?The simplest way to evaluate a bathroom is to look at the space, modernity, and the plumbing situation. Instead of installing a brand-new shower or tub, simple fixes could include re-caulking, putting in a more modern sink/vanity, or painting the space. Install new light fixtures and present modern decor for viewings. 

 

Average Cost: $25,000

 

 

Gym Studio

 

Something to note about Southern Utah is that many families live an active lifestyle. Whether they are participating in recreational sports or doing private trainings, it's almost always there. Many families who build and design their own homes in this area add in a studio that can be used for working out on machines, doing yoga, or for dancing. If your current home does not include a studio, put it at the bottom of your list. The reality is that there are many gyms in the area and although some homes may possess a studio, a simple space where workouts can be done is completely acceptable. When the home is being shown, The Shaffer Team makes a point to paint the picture for the potential homebuyer. We help clients envision an open space as a place for their athleticism, so you dont have to create that space with on your own dollar.

 

Typical Cost: $27,000

 

Movie Theater Room

 

The most desirable room for a family to spend time together is in a movie theater room. We cant stand this statement. Although yes, we see several listings with this room, the costs are just not worth the penny. Not only do you have to provide seating, but also the technology. The Shaffer Team reasons that a well presented space where the activity center is housed can provide this sense of a perfect family night. We put our focus on designing a space where the entire family can come together and enjoy each other's company without a built-in personal movie theater space.

 

Typical Cost: $30,000

 

Connect with Us!

 

Contact the Shaffer Team to help you with all your home remodel needs! We are a team of professionals located in Southern Utah, specializing in selling homes to all types of buyers who need assistance in evaluating the current state of a space. Call us today at (435) 703-8885. 

 

 

Posted in Home Decor
July 9, 2019

The Job Market vs. Housing Market in Southern Utah

The Job Market vs. Housing Market in Southern Utah

 

The inevitable truth about today’s housing market is that at times it is only as strong as the local job market. As a result, these markets are constantly being evaluated against one another. In our experience with selling homes to relocators, we have found that there are two main types of relocating homebuyers. The first is a homebuyer who is needing to relocate after accepting a job offer. The other is when a potential homebuyer seeks employment in a location where they desire to live.

 

There is a special art to selling a home when relocators are involved. The Shaffer Team takes pride in being able to advise sellers through the process of the sale when the buyer is a relocator. It is important to note a few things with these types of sales:

 

· Listings may sit in Escrow for extended periods of time. 

· Buyers who are interested in the listing but have to travel long distances to view the home, may put in an offer but rescind it shortly after. 

· Some buyers need to expedite their process in purchasing a home so they can begin the relocation process quickly. 

 

Overall, relocators are prime target buyers as they will often extend offers that are much higher than the original listing price to close the sale faster. 

 

If you are looking to relocate to or find employment in Southern Utah this year, you’re in luck. Recent data from the U.S. Census Bureau has shown us that the St. George Metro Area is one of the top locations in the state that has both strong housing and job markets. Since May (2019), employment opportunities have increased by 2.9% allowing for the creation of just over 44,000 new jobs.

 

Connect with Us!

Contact the Shaffer Team to help you with all your real estate needs! We are a team of professionals located in Southern Utah, specializing in selling homes to all types of buyers including

relocators. Call us today at (435) 703-8885. 

Posted in New Developments
July 2, 2019

Debunking Real Estate Myths

Posted in New Developments
June 18, 2019

Loan Options for Home Buyers

Loan Options for Home Buyers

 

 

The process of buying a home can be daunting. There are many things to think about, but your loan options shouldn’t provide stress. Let’s talk about the different loans we recommend, especially if you’re a first-time homebuyer.

 

FHA (Federal Housing Association)

This is a great loan option for first-time homebuyers with little to no credit and a small down payment. With this option, you can be approved for a mortgage loan with a credit score as low as 580 with only a 3.5% down payment.

 

USDA Loan

Similarly to the FHA loan, with the USDA loan, buyers will be able to get approval for a mortgage loan with a lower credit score (minimum 640) and a small down payment. This loan will be most effective if you are purchasing a home in a USDA qualified rural area.

 

 

VA Loan

This loan is specifically for veterans, active-duty military members and their spouses who qualify. With this loan, the lender will not have a required down payment and it does not require a credit check.

 

Fannie Mae/Freddie Mac

If you make income as an educator, firefighter, police officer, or other medical technician, then this loan option might be right for you. This option allows for discounted homes and can pair with an FHA loan. Something important to note: you must stay at the property for at least 36 months but can sell after the 36 months have passed.

 

Want to Learn More?

Have any further questions regarding loans? The Shaffer team is here to help! Our team consists of real estate professionals in Southern Utah, specializing in selling homes. Call us today to get started at (435) 703-8885. 

June 11, 2019

Unique Sites in St. George, Utah

Unique Sites in St. George, Utah

 

There are so many reasons to love St. George! It has an amazing small-town, community feel, while also having quick and easy access to everything you need.

 

But what do we love most about St. George? The surrounding environment and stunning natural architecture.

 

Here are a few of our favorite places, check them out when you’re in town:

 

St. George Historic Downtown

Start your day with a walking tour through the heart of the city. You will learn how important St. George history is to southern Utah. Do you enjoy antiquing and looking at old preserved buildings? Then this historic downtown experience is the right one for you!

 

License Plate Pole

Want to view one-of-a-kind art and a reminder of the good old days driving cross country through the states? Take a quick detour to the License Plate Pole and add to it. Towering dozens of feet in the air is the great pole made completely out of donated license plates. It’s an interesting site you must see.

 

Petroglyph Park

 

Petroglyph Park offers families the perfect short hike to ancestral writings. The quick, easy pathway through the petroglyphs will leave you in awe of the ancient markings. If you don’t feel like driving or hiking far, then this is the perfect excursion for you.

 

Coyote Gulch Art Village

The Shaffer team loves art. Coyote Gulch Art Village offers us the chance to not only view brilliant artwork, but allows us to experience the red rock backdrop that surrounds you from every angle. Take a quick stop at this art village to see natural and hand-made art.

 

Ready to Visit Southern Utah?

 

Want to learn more about Southern Utah? Contact the Shaffer team today! We can answer any questions you have and get you started on a real estate search in this beautiful corner of the state. Call us today at (435) 703-8885. 

Posted in New Developments
June 4, 2019

Catching Up With the Shaffers

 

Some weeks we’re surprised we don’t have a reality show. The things we deal with daily are humorous, stressful, downright crazy and slightly unbelievable. But we’ve chosen this life, this career path. And we wouldn’t change a thing.

We are a family of six: Nate, Kim, Ireland, 11, Eden, 10, Quinn ,7, and Quade, 4. We have learned to work together as a family to maintain our busy lifestyle.  Without each member pitching in, we would not be where we are today.

While the adults are being grown-ups and running the business, the kids definitely keep us on our toes.

● Our oldest, Ireland is a charismatic eleven-year-old. She has a passion for music and loves to play volleyball.

● Eden may be a year younger than Ireland, but she sometimes acts like her big sister. She’s super responsible, and also loves music and soccer.

● Quinn is our sport-loving son who enjoys football, soccer, basketball and anything outdoors.

● Our youngest son, Quade, is a busy four-year-old who loves preschool, playgroup and soccer.

 

              

Lunch Dates

This week we were finally able to go on a date. And by date, we mean that a title company took us to lunch. We even got to sit next to each other! We love these dates because some weeks it feels like we hardly see each other. These surprise lunches with clients and title companies are one of our favorite ways to sit down and catch up.

We are excited that summer is right around the corner. Business starts to slow down (after a hectic spring!) and we look forward to connecting with friends, family, and colleagues.

Want to Connect?

The Shaffer team is always looking to expand our network and get to know members of the community. Call us today if you have any real estate questions or would like to connect at (435) 703-8885. 

May 28, 2019

What are Current Interest Rates and What Does That Mean for Buyers?

What are Current Interest Rates and What Does That Mean for Buyers?

 

When it comes to purchasing a home, 2019 has been the year to remember. Interest rates are good, now sitting at a 14-month low. But what everyone wants to know is will rates stay this low or can you expect them to rise again?

The bottom line: If you are wanting to sell your home this year, you’d better get moving.

Freddie Mac forecasts that April and May will represent the lowest interest rates of the year and that we can expect them to partially rise over the next few months. There will most likely not be any dramatic jumps in rates, however. Looking at specific numbers (shown below), we see that interest rates are sitting at 4.14% with a 30-year average.

 

Does this mean that if you haven’t started getting your home ready you’ve missed the opportunity? Absolutely not! It is forecasted that for the remainder of 2019 (moving into 2020) the market will be strong and interest rates will remain lower.

Something to keep in mind is many homebuyers want to be planted in their new homes before the start of summer. With interest rates low and the desire to expedite house shopping, be sure to start the process of selling your home now if you are interested.

Another thing to consider is refinancing. Because rates are slowly increasing, we recommend that if you are looking to purchase a home or refinance, you lock it down now.

Want to Learn More?

Have any further questions regarding interest rates? The Shaffer team is here to help! Our team consists of real estate professionals in Southern Utah, specializing in selling homes. Call us today to get started at (435) 703-8885.