St. George Market is Bouncing Back

With swirling rumors of what’s really going on with the housing market, it’s hard to know what’s real and what’s not. One thing’s for sure though, the St. George, Utah market is bouncing back! I talked to Trent, one of our property managers in St. George and he said things are really looking up for the local area.

 

“ I’ve been a real estate agent for just over 10 years. I’ve managed all kinds of properties; everything from town homes, apartments, condo and large homes. The market is increasing with each passing month. New homes are being built and owners are renting them out.”

Trent manages this home on Country Lane in St. George. Homes like this are renting fast in Southern Utah.

Trent manages this home on Country Lane in St. George. Homes like this are renting fast in Southern Utah.

 

In early 2000 the St. George market was steady and slowly increasing. Starting in 2003 to late 2004 the values of homes sky rocketed. In 2006 the prices continued to climb and in 2007 they dropped to the floor. Now that the housing market is stabilizing “new homes are being built and the values are increasing,” says Trent.

 

There are many things that draw people to move to St. George. “St. George is great for a lot of reasons. It’s centrally located, fairly close to Salt Lake City and Las Vegas, there are plenty of community activities and the weather is great. Companies are coming for the location and the labor force is cheap,” Trent stated.

 

Trent began investing in rental properties back in the 90’s and knows about rental property ownership first hand. He has a brokerage license and has been managing rental properties since he started in the industry. As a property manager, Trent is well seasoned in all the facets of real estate. “I was an electrician for a while, I’ve built homes, I’ve dealt with plumbing, I’ve worked with roofing and concrete; I’ve done it all, let’s just say that.”

 

Trent says that real estate investments are the best investments to have right now, “unless you can find that really lucky stock.”

 

Trent is very optimistic about the future of property management in St. George “In the near future, it’s just going to get better. Things are renting really fast and when units rent fast, the rent value goes up. We’re going to bounce back faster than anybody.”