Oct 22 2024 71 mins
Join me as I sit down with Jeff Watkins, a 2004 state champion and a Davis High School Hall of Famer, to explore the dynamic real estate market of Southern Utah. Ever wondered if we're heading toward a real estate bubble in Washington County? We explore this question while sharing a lighthearted conversation about childhood dreams and our mutual love for hot dogs. Jeff and I even dive into the local sports scene, reminiscing about the football season and the buzz surrounding Utah Tech's first year in the Western Athletic Conference.
Our discussion turns to the latest market trends, where sellers seem to have the upper hand. With an average sold price increase of 6% and the median price up by 3%, we dissect what's at play. From bustling developments in Zone Six to the potential impacts of the PGA Championship, there's a lot reshaping Southern Utah's landscape. We also touch on mortgage intricacies, such as why bond markets matter more than the Federal Reserve's moves, and explore innovative ideas like listing homes with potential monthly payments.
Lastly, we tackle the challenges homebuyers face with rising costs and limited inventory. With fewer homes available than in previous years, we discuss the implications of increasing construction costs and the impact of remote workers with higher incomes moving into the area. As we explore new developments like the expansion of St. George Airport and the proposed Northern Corridor project, we consider the balance between development and conservation, reflecting on the unique environmental and political challenges that lie ahead.
Find admission to HAC 3rd Annual Attainable Housing Forum here: https://www.eventbrite.com/e/hac-3rd-annual-attainable-housing-forum-tickets-1000526360277
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#RealEstate #southernutah #housingtrends #UrbanDevelopment #affordablehousing #435podcast #stgeorgeutah
[00:00:00] Intro.
[00:08:21] Real Estate Market Trends and Events.
[00:16:49] Real Estate Market Pricing and Trends.
[00:28:23] Vacation Rental Market Shift.
[00:40:40] Southern Utah Real Estate Market Analysis.
[00:53:06] City Development and Airport Expansion.
[01:01:13] Northern Corridor Development Dilemma.