Below is the actual St. George Real Estate Morning Drive show, hosted by St. George Real Estate Agent Jeremy Larkin, word for word! Enjoy and please share if you find it valuable!
Jeremy Larkin and The Larkin Group @ Keller Williams Realty can be reached by calling 435-767-9821, or emailing email@example.com.
Andy: You know what that music means? I do. I think it means Jeremy Larkin is in the house.
Jeremy: Hello, everybody. You know what, Jesse? We are going to reset this live feed, guys. We have got a Facebook Live feed, and I do not think we are on Wi-Fi. So I think we re going to reset it. Good morning to everybody here. Jeremy Larkin, host of the St. George, what?
Jesse: St. George Real Estate Radio Show, the Morning Drive.
Jeremy: You almost got it. See? I was testing you. I was testing you. I was testing you.
Andy: You guys are so tech-savvy.
Jeremy: The St. George Real Estate Morning Drive. Okay? Can we get it right? The St. George Real Estate Morning Drive. We have got to get Andy trained.
Jeremy: Andy, here is the thing, Andy. You were just calling Hurricane H-Town.
Andy: H-Town. Yeah.
Andy: Is that not good?
Jeremy: I like it, but now I want the St. George Real Estate Morning Drive. Can people see his shirt? They cannot see his shirt because he has got a face for radio.
Andy: Maybe we ought to do a close-up on Facebook.
Jeremy: He has got a face for radio. Do you love that?
Andy: But he has got a shirt for the world. His shirt is amazing.
Jesse: Hey, my wife gave me this shirt two years ago, and I think it has taken me a couple years to get the courage to wear it. So.
Jeremy: (Indiscernible) woman.
Jesse: It is sexy.
Andy: This is the debut of the shirt today?
Jesse: No, I have worn it before, but not like this. Not on air.
Andy: Oh, okay.
Jeremy: It is a debut.
Andy: He has lips on his shirt.
Jesse: If you cannot see it, you can go to the Larkin Group. We are St. George Experts on Facebook and look at our Facebook Live and you can see the lips. I feel like Mick Jagger.
Jeremy: they are not that big.
Jesse: I almost like Mick Jagger this morning because in the middle of the night, I stole my wife’s pillow and she got up and almost punched me.
Jeremy: Let me see if I can explain something to all of our listeners. He moves. You know the song? Moves Like Jagger? This guy moves like Mick Jagger.
Jeremy: He actually does. So I got a question out there for people. How many folks are YouTube Live? Does anyone watch YouTube? I do not know. Because it is a thing.
Jesse: I do. Not live, but I definitely am a YouTuber.
Jeremy: So what we are doing now is we have taken the show and we are running it on YouTube Live. So we run the show on Facebook Live. We run the show on YouTube Live. Now, we killed our live feed for just a minute. I am Jeremy Larkin, host of the St. George Real Estate Morning Drive. Because we thought maybe WiiFi might be helpful, Andy.
Andy: Is it working?
Jeremy: It is. We are going to be back on right now. So guys, I want to wish everybody out there a very, very lovely happy Valentine’s Day. Andy, what do you got, what is on your schedule today?
Andy: Dinner and a concert for me and the wife.
Jeremy: Where is the concert?
Andy: It is Cox Auditorium. It is the Carpenters’ tribute band. I do not know if you are old enough to remember the Carpenters.
Jeremy: Come on, of course.
Andy: They were very romantic.
Jesse: No, the Carpenters.
Jeremy: Come on.
Andy: I said something in a room the other day about going to the Carpenters’ tribute band, and everybody gave me the three-mile stare like who? What? Who? She has been dead for 30 years. But yeah, I am pretty pumped about tonight. We have not figured out where dinner, we are not sit down with cloth napkins and have a steak type people very often. So we are going to have a nice dinner and a concert, but it will not be, I am not going to spend $100 on dinner.
Jeremy: Very fair.
Jesse: Or wait for 2 ½ hours.
Andy: I have got a reservation. No, no, I do not want to do that.
Jesse: Valentine’s Day is the craziest restaurant day.
Andy: What about you, Jeremy?
Jeremy: For what it is worth, I have got reservations, by the way.
Jeremy: I have got reservations at the Ledges, 5pm.
Jeremy: So don’t anybody out there dare think that I did not plan ahead. I got those reservations a week ago.
Jesse: Wow. A week in advance and you still got –
Jeremy: Now, I might be there alone, but I have got reservations at the Ledges. Do you know what I am saying?
Andy: You planned ahead though. That is good. I am impressed.
Jeremy: No, I absolutely did. I have got reservations at the Ledges with a very lovely woman. Happy Valentine’s Day to Kayla Evans, and to Jesse Poll here and all of my –
Jesse: And to Leia Frances Poll. That is my wife.
Jeremy: And to Leis Frances Poll. Yeah. And to all of the beautiful women at our office, and also the beautiful men at the Larkin Group. I do not know.
Andy: Can’t they be handsome?
Jeremy: They can be handsome. They are beautiful. Guys, we are back on Facebook Live if you are not there. Facebook dot com slash Jeremy Larkin. Check it out. We are live, back on. Just trying to see if we can get our feeds to run a little better. Okay. The funny part is I was going to look in my photos this morning. This is what I love about technology. I was going to look in my photos and did not prior to the show to find out what I was doing last Valentine’s Day. That is the thing with the phone is you can actually find out what you were doing on any Valentine’s Day. Right?
Andy: Was there something cool?
Jesse: Because of your photos.
Jeremy: No, yeah. Just because your photos it is a scrapbook. It is a living scrapbook. How many photos do you have on your phone, Jesse?
Jeremy: How many thousands?
Jesse: I do not know. My phone is over there. Well, I have had to delete it a few times because my iCloud gets full.
Jesse: And I just cannot see paying $12, $20 a month because it just keeps adding. When I can take it all over to Google photos and get almost unlimited if I save it right.
Jesse: So it is challenging to make that happen. With an iPhone, it does not seamlessly happen.
Jeremy: It is not quite as seamless as you want it to be. Well, I want to let you guys know that I have 11,000 —
Jeremy: — photos.
Jeremy: How do you like that?
Jesse: I do not have that many. You must pay for serious storage or you have a big phone.
Jeremy: I have a gigantic phone.
Jeremy: It is basically like the brick phone from Saved by the Bell. Remember the one? You do not know.
Andy: I used to broadcast games on those big things.
Jesse: Oh, I remember those.
Jeremy: Oh gosh.
Jesse: Those came out when I was actually a teenager, I think.
Jeremy: Yeah, it is a big old brick phone.
Jesse: Miami Vice.
Jeremy: Yeah, Crockett and Tubbs. Right? Remember those guys?
Andy: Oh yeah.
Jeremy: We are going to have some fun this morning. So we are going to give away some Parade of Homes tickets. We are giving away on the Larkin Group Facebook page dinner for two. A gift card for some folks. Should we start with that?
Jesse: Let’s do it.
Jeremy: Okay, we have got a Valentine’s giveaway. By the way, I am Jeremy Larkin, host of the St. George Real Estate Morning Drive, and I have got Jesse Poll here, my business partner, co-host, and we are talking about, we are going to talk about the St. George Parade of Homes –
Jesse: Let’s do it.
Jeremy: — because it is so massive and we ran a survey that is very, very interesting. Now, I think the data is, I think it is lopsided and weighted because it is data that came from out real estate database.
Jesse: Right. Right.
Jeremy: Does that make sense? So is it really, it is not reflective of what the public is doing.
Jesse: Right, but I think we are going to do another one, I believe.
Jeremy: Yeah, we will probably do another one. Okay.
Jesse: To really make it fair.
Jeremy: We will do another one. But the first thing I want to tell folks is would you like to win date night? You have already got yours planned.
Jeremy: So folks can still win it. Over at the Larkin Group Facebook page. It is Facebook dot com slash St. George Experts. Facebook dot com slash St. George Experts. Some fun photos. Tag your Valentine and post a photo of you and them on the feed there. We already have 11 beautiful couples have posted and good morning to so many of them. So cool, so fun. Have you seen it? It is pretty fun. Hop on there. Facebook dot com slash St. George Experts, and post a photo of your Valentine together. You two together.
Jeremy: And we are going to draw for one lucky couple today. Number two, we have got a St. George Parade of Homes ticket giveaway that is going on right now. And I know we are giving people so maybe things to track down, but it is okay. They are going to survive. Right?
Jesse: If they want it, they will track it.
Jeremy: If they want it, they will track it down.
Jesse: We will chase the things that we want.
Jeremy: Yeah, we will chase things that we want. And by the way, I chase the things that I want. Very, very, very much chase things I want. So, want to let people know we are doing a giveaway and if you want to get in on this giveaway, visit St. George Real Estate Videos dot com because we posted the link there, and it is a survey about the Parade of Homes. Should we talk about the results, Jesse?
Jesse: Let’s do it.
Jeremy: It is a very simple survey. We asked people three questions about the Parade of Homes, but maybe most importantly, we asked questions about what their plans are in real estate this year because we want, it is like what are people thinking? What are they feeling? What are they going through? Are people buying homes? Are they selling homes? What are they doing? Right? Okay. So how many responses have we had to our survey?
Jeremy: 118 folks answered three questions. And what were the questions, Jesse? Do you know off the top of your head?
Jesse: The first was have you ever attended the St. George Parade of Homes? 79% said yes. 20% said no.
Jeremy: Okay. And this is in our database?
Jeremy: So, so 80% said yes, more or less. 20% said no.
Jeremy: Now, not surprisingly, what was the next question and answer?
Jesse: Do you plan to attend this year’s Parade of Homes or the 2019 Parade of Homes? 80% said yes. 19.3 said no.
Jeremy: So essentially, exact reflective answer. All the people who said they had been to the parade said they are going to the Parade. Have you been?
Andy: I have, yes.
Jeremy: It is very cool. If you go this year, if there is anything you want above say $2 million, we would be happy to write it up. Okay? Just want you to know that.
Andy: That would be dollars because that is a little out of my price range, Jeremy.
Jeremy: Yeah, I know. I get it. I get it. Third question. What do we have?
Jesse: Third question. Do you plan on making a move or change of residence in 2019? 55% said no. 44.5 said yes.
Jeremy: And that was baffling. So understand that this survey was conducted out of our database. So for our real estate clients, by the way, who we market to. We have almost 10,000 now —
Jeremy: — recipients on our email list. As a matter of fact, our last, I do not know what yesterday was when we sent out the Parade of Homes giveaway, but we were at about 9200 successful deliveries. That is how big our database it. That is how big the group is that we are now marketing to, that we are marketing your listing to if you are selling a home. Right? That we are sharing about the market. And anyone who is on that list knows that we share, it is like 90% value, content, 10% hey, can you help us out? Can you send us a referral? That kind of thing. We are putting tons and tons of content into this database. So the point being we queried that group, and in that group, not surprisingly, lots of them go to the Parade of Homes. Lots of them plan to go to the Parade of Homes, and almost 50%, did you say 45? Said they are going to move this year.
Jeremy: Holy cow. Okay.
Jeremy: Let’s talk about some of the things they said, and by the way, of course, I am not going to ever share names. Here is a couple of things I noticed by the way. We are thinking of downsizing. We are thinking of downsizing. We are thinking of downsizing. I think I saw that yeah three times. We are thinking of downsizing. Isn’t that fascinating?
Jesse: I am looking at one right here. The first one that popped up. When will the bubble in real estate bust? When will the prices plateau?
Jesse: Will Washington County pricing peak anytime soon?
Jeremy: Oh, this is so awesome. So when will the bubble burst? So –
Andy: Is it a bubble even?
Jeremy: You are just, thank you for being wonderful. Andy, have you ever had something go really horribly wrong for you?
Andy: Oh, of course.
Andy: My first day on the air here, as a matter of fact.
Jeremy: Beautiful. And here is a question for you. After the first day on the air, this is actually perfect, and I did not set you up for this.
Jeremy: After the first day on the air, and it went horrible is how you felt about that. Okay? Did you believe that all of the other days were also going to be horrible because that one was horrible?
Jeremy: No. So do you see where I am going? There was a bubble a decade ago.
Jeremy: And because there was a bubble, people are so shell-shocked of what do they believe?
Jesse: There is going to be another one.
Jeremy: It is going to happen again.
Jesse: What is interesting is the last time, it had been so long since we had had anything like that it was not even in their mind.
Jesse: And now, because we are back to a normal cycle, right? It should cycle every ten years. Up and down. Up or plateau.
Jeremy: Yes. Yes.
Jesse: So last time, it was one of the longest stretches in history. So it was out of our mind. The 70s and 80s is the last time that it probably really happened (indiscernible)
Jeremy: Literally. Yeah, when you are talking about major economic issues with 70s and 80s –
Jeremy: — you had interest rates hit 18%, and then for people to even buy or sell real estate it was all seller-financed, and weird and wrap-around mortgages. And you can have the use of my four-wheeler. It was three wheelers by the way in the 80s. Those things were fun and dangerous.
Andy: And dangerous.
Jeremy: And dangerous.
Jesse: My son got a three-wheeler that did not run, and he made it run on fumes. He created a gasifier engine.
Jeremy: A gasifier engine.
Jesse: In high school.
Jeremy: Oh my goodness.
Jesse: Good old three-wheeler. They made it a chopper three-wheeler.
Jeremy: I love it. I tipped one over. 600 South downtown St. George.
Jeremy: But at the time it was like you can use my three-wheeler and then also my house boat at Lake Powell and then I will give you $20,000 down and then if you will, it was this crazy stuff people had to do to sell real estate. We do not have any comprehension how good it is now. Because see if you do not know what the bitter is, you do not know what the sweet is. So folks, we are in a wonderful real estate market. We are in a healthy real estate market. We are probably getting into a more healthy real estate market than we have seen in the last couple of years.
Jeremy: When will the boom bust? Bubble burst? We do not think there is a bubble. Okay? Fair enough?
Jesse: I agree.
Jeremy: All right. So what is another question we have got in here? These are so incredible. Incredible issues. We basically could run a radio show for the next two years off this.
Jesse: I think we should because the next one that popped out on me –
Jeremy: Thank you, everyone.
Jesse: Nothing to do with the Parade of Homes, but this stuff comes up all the time. We are thinking about adding a two-car garage to our home with a two-car garage. And that would be four would be attached. What affect will this have on the home’s value?
Jeremy: Okay. So let’s run this. Let’s break this down now. They want to add a two-car garage.
Jesse: To a two-car garage. So it would be a four-car garage.
Jeremy: Two two-car. All right. So, Carl Wright was in our office last week –
Jesse: Two to two.
Jeremy: Yeah right. So Carl Wright was in our office last week. Carl Wright is with R1 Appraisals. I hope I do not butcher this. I think they have done 120,000 appraisals. His company. They might have a feel for the market.
Jesse: A little one.
Jeremy: And what was fun is that most everything he said reflected what I knew which made me very happy and kind of pat my own back. Stretch back there.
Jesse: He did, too.
Jeremy: Yeah, I did. I went ahead and gave myself a scratch and a pat and hug.
Jesse: And asked us for one, too. And we gave it to him.
Jeremy: I know you did. Depending on the home, 7-10,000 per garage bay if you are in a more expensive home. $5-8,000 per garage bay if you are on a less expensive home. Let’s call it 10,000 a garage bay. And let’s just maybe go ahead and say 15-20 grand. Now, but here is maybe more important. That is 15-20 grand on an appraisal.
Jeremy: But more importantly, if they were to put it on the market, it is much more marketable.
Jeremy: Right? And we do not know. We do not know what, well, aren’t you guys real estate professionals? Well, yeah. But we do not know everything. Right? There is no classic, perfect metric for that. But here is what I would say to the person who answered that question. If you want to put a two-car garage onto your existing two so you got a four, you are not doing that for another buyer. Who are you doing that for, Jesse?
Jeremy: Yeah. Have you upgraded your home ever, Andy?
Andy: Yeah, years ago.
Jeremy: What did you do?
Andy: We added a little bit of room. We also built on kind of shed-type space and a carport, and then we added on an awning in the back.
Andy: Made the back very livable.
Jeremy: So did you like that?
Andy: Oh, yeah. Oh, yeah.
Jeremy: And who did you do that for?
Andy: Did it for myself, not for the future owner.
Jesse: We were just having this conversation the other day.
Jeremy: But there was a benefit for the future owner, but it really was not for them. It was for you.
Jeremy: There you go.
Jesse: We were just having this conversation the other day. We have got a couple coming soon listings. One in the Legacy that is a walk-out basement. Another one in Bloomington Hills, and we are talking about well one of them has completely remodeled it. Just beautiful home. And we were talking about man, what value can we really get out of this? Can we get it back? That will be coming on the market here in a few weeks. We are really excited about that and see what the market says.
Jeremy: Incredible home in the Legacy. We are –
Jesse: Oh, it is so awesome.
Jeremy: — talk about a couple of properties today.
Andy: Jeremy, let me mention real quick. I have a Mustang.
Jeremy: Hey, Andy, this is my show. I am kidding. Keep talking.
Andy: I just want to enhance your point though.
Jeremy: I just wanted to go ahead and see if people could be uncomfortable. I could not even stand this discomfort –
Andy: I can turn off your microphone –
Jeremy: I know you can.
Andy: No, I am just kidding
Jeremy: So go ahead.
Jesse: He controls this show.
Andy: I have a Mustang. Last year I bought some Boss rims for my Mustang. I did not buy the Boss rims because someday I am going to sell that Mustang and I want to get that money back. I bought the Boss rims because they are cool, and I wanted my car to look really cool. Same point.
Jeremy: And here is the irony. Because not only did you not buy it for the future purchaser of your car, what is actually going to happen to the value of that car over time?
Andy: It is just going to go up. Yeah.
Jeremy: It is going to go up, or people may or may not ever even want that and you may just give those Boss rims away for free. Right? Because you do not know what someone will want.
Jeremy: When we talk about selling a home in this market, we have had this conversation so often. You envision this giant funnel, okay. Giant. Like a Washington County size funnel. And at the top of the funnel is every buyer for every property. Okay? Townhomes, condos, single-family homes, luxury homes, trailers, trailers on rented lots, trailers on owned lots, land, every property, every buyer goes into the top of the funnel. Well, here is the issue. Out the bottom of the funnel, Jesse, if you are selling a home, what do you need? You need one person to come out of the bottom of the funnel who wants what?
Jesse: To buy this home.
Jeremy: That home. So Jesse lives on 200?
Jeremy: In Hurricane, H-Town. I love that, Andy.
Andy: H-Town. Yeah.
Jeremy: He is home that was built –
Jeremy: — in 19 what?
Jeremy: 1922. The home is gorgeous. Okay? And, not but, and it is a historic home.
Jesse: It is definitely an historic home.
Jeremy: So here is what has to happen if Jesse wants to sell his house. He has to find someone, number one, who wants to buy a home. Number two, they want to buy a home in Hurricane –
Jeremy: — Utah. Number three, they are okay buying a home built in 1926.
Jeremy: And all that comes with a home that was built in 1922.
Jesse: Yes, it does. You start digging into those and you find problems you did not even know existed.
Jeremy: Okay. We have got our buyer, but yet, we do not. Now, they have to be able to afford it. Next, number five, they have to want to afford it.
Jeremy: That one is what people, maybe I do not want to afford it. Oh, I could afford it. I just do not want to afford it. Right? They have to want to afford it. And then we just come circle all the way back around to what we talked about. Then they have to love the style. Going in the house has to feel right the day they went there because maybe the husband and wife or husband and husband or wife and wife or whatever we are doing now, right, we are in a fight in the car on the way to the home. Do you realize the couple fighting in the car on the way to the house could ruin the sale?
Andy: It is true.
Andy: That is true.
Jeremy: Do you love it? Anything could affect the marketability of this home.
Jesse: Oh my gosh, that is great.
Jeremy: So out the bottom of this funnel is the person that buys your home. And so we just have to realize that this is not like oh, I got the best home on the block. I realize you might have the best home on the block, but buyers are looking at a lot of homes.
Jesse: There are a lot of other dynamics. I was just talking to somebody yesterday that was doing an inspection on a home and their agent, the seller’s agent, is just disconnected. They are not, it is just who they are.
Jeremy: Okay. Agent representing the seller of the property. Okay.
Jesse: The seller. So they are doing inspections. The buyer is doing an inspection and this seller is just livid. And their agent is not available to help calm them down. This is just what happens. This is normal. So it may go south because something you cannot control. The seller, the buyer cannot control, the agent should be controlling that. Or at least doing some future prepping —
Jesse: — of what to expect.
Jeremy: Future prepping. Future pacing.
Jesse: Pacing. There you go.
Jeremy: Is what we call it okay. Okay. One more question. Andy, what do we got for time today?
Andy: You have got about three minutes.
Jeremy: Last question, Jesse, and then we are going to talk about two real estate things, two homes.
Jesse: Okay. There was one on here. Let me look.
Jeremy: Okay. When is the best time to refinance? How about that?
Jesse: That is a good one.
Jeremy: You ready? You ready? The best time to refinance is when interest rates are lower than your current interest rate. And by the way, people say by how much? At least a half of a point.
Jeremy: If it is not about a half a point, you are going to pay a lot of money unless you are really truly planning on staying in a home for 30 years. When is the best time to refinance? When is the best time to plant a tree? 25 years ago. When is the next best time? Today.
Jesse: And that also depends on what you are doing. I went to go refinance and Chantry Abbot over at Guild Mortgage actually talked me out of it and sent me to a different institution to get a HELOC because it made more sense for me.
Jeremy: That is what happens, by the way, when you work with professionals. How about this? Two minutes. Robert did this on our team. Congrats, Robert. Happy Valentine’s Day, Robert. Just wanted to personally, and you have done this. He talked the seller out of selling their home.
Jeremy: Went to visit with the client and said I do not even think this is a good idea. Folks, a couple of incredible properties coming up. We are listing, putting on the market tomorrow afternoon a home in Ivins that is just, it is literally like a little, it is not a diamond in the rough. It is like a little, fields of diamonds. More like that. It is in your backyard. They coined it mini farm meets pool paradise, and these are amazing people.
Jesse: They are amazing people and an amazing house.
Jeremy: Yeah, it is really fun.
Jesse: It is going to be a lot of fun to sell that.
Jeremy: Yeah, I love it when we bring a home to market that is just not another home. 2355 square feet, four bedrooms, but most importantly, they have built this oasis in the backyard. Chicken coops. It is just so freaking cool. So anyway, check this out. This home is coming to the market tomorrow. Number two, Legacy and we are not going to give you anymore. By the way, if you want to see this property upcoming, you can see it at Go St. George dot com. Legacy.
Jesse: I have got one in Bloomington Hills coming up.
Jesse: Walk-out basement with two kitchens. Just awesome mother-in-law apartment.
Jeremy: Two kitchen. Oh. Guys, incredible properties. Check them all out at Go St. George dot com on our coming soon listings. They are not all there yet because we are working with a lot of clients. If you would like to win the Valentine’s, a date night for you and your Valentine, visit Facebook dot com slash St. George Experts, and post, you will see the post. Post a picture or photo of your loveliness together. And if you would like to get in on the Parade of Homes, we are going to give away at least ten tickets, five sets of tickets.
Jeremy: Get involved in the Parade of Homes survey that we asked today. Have you been? Are you going? And do you plan to buy or sell this year? To give us a sense for what people are doing at St. George Real Estate Videos dot com. Man, did we jam it in there?
Andy: You got it done.
Jesse: Good job, Jeremy.
Jeremy: Sponsored by Coke Vanilla Zero.
Andy: I know. Nice product placement.
Jeremy: Look it is a downgrade from Red Bull. I am trying to get off that stuff. I love the product placement. The problem is guess what they are giving me? Nothing.
Andy: St. George Real Estate Morning Drive with Jeremy Larkin. Jeremy, I loved the show. Thank you, man.
Jeremy: Thank you, man. Appreciate it. Cheers.
Carl Wright of R1 Appraisal: Where are St. George Home Prices Going? (St. George Real Estate Radio Show)
Below is the actual St. George Real Estate Morning Drive show, hosted by St. George Real Estate Agent Jeremy Larkin, word for word! Enjoy and please share if you find it valuable!
Jeremy Larkin and The Larkin Group @ Keller Williams Realty can be reached by calling 435-767-9821, or emailing firstname.lastname@example.org.
Andy: These guys have maybe the coolest theme music out there.
Jeremy: Yes, we do.
Andy: St. George Real Estate show with Jeremy Larkin. Jeremy joined today Carl Wright. Guys, I love talking about real estate. I am always kind of in the market for a different house even though I have been in my current house seven years. Maybe you can help me out a little bit.
Jeremy: Listen, I have got some stuff in the $2-3 million range I think you should look at.
Andy: Okay, can I borrow a couple of mill?
Jeremy: Here is the deal. I would happily contribute to your down payment. I cannot say what, but hey, by the way –
Andy: A couple of cows or –
Jeremy: — welcome. Welcome to the show, Andy.
Andy: Thank you, Jeremy. It is great to be here. I have been looking forward to this day for about a week. I have been here what, three times now, sitting and listening to you guys –
Jeremy: Yeah, yeah, this is –
Andy: — but Mike would never let me talk.
Jeremy: No he would not. He would not.
Andy: Now, I get to talk.
Jeremy: Last week was the famed, final, final, the farewell show. Mike is no longer with us. Is that how you say it?
Carl: That is sad.
Andy: Well, I will say this. I called a basketball game with him last night, so I know he is still with us, he is just not with us.
Jeremy: He is with us. Which game did you guys call?
Andy: Pineview Dixie. Three-pointer at the buzzer in overtime. It was a great game.
Jeremy: Wait a minute. Who won?
Andy: Pineview won it.
Jeremy: Oh man.
Carl: Oh wow.
Jeremy: See I was not, literally I was so focused in other things I did not even know they were playing last night, which is sad because I am a Dixie High graduate. And that used to be, that was the rivalry. But the rivalries now, there is a variety of rivalries. It used to be Pineview and, excuse me, it used to be Cedar-Dixie, which was –
Jeremy: — when I was young. And then it became Pineview-Dixie. And now there is, there is kind of a variety of rivalries. Isn’t there, Carl? What do you think? What do you think the real rivalry is now?
Carl: Gosh, it is, I think there is a rivalry between everybody now.
Jeremy: Your kids, your kids will go where? Crimson or Desert Hills?
Carl: We will go to the new Crimson.
Jeremy: You will go to Crimson.
Andy: Brand-new school in the fall.
Carl: Brand-new school.
Jeremy: Yeah, so it is has changed. The dynamic has changed. Three-pointer at the buzzer. Good grief. I think I just had a traumatic episode thinking about Jordan and him, the fallaway three-pointer on the Jazz in the 1996 –
Andy: Oh, flashback.
Carl: Thanks for bringing that up.
Andy: Yeah, thanks a lot.
Jeremy: Yeah, we are never going to live that down because genuinely speaking the Jazz are never, ever going to probably have that chance again. I am sorry, guys. It is what it is. It is hard to attract, hey welcome to St. George Real Estate sports show. It is hard to attract, I have said this forever. Now, I am going to beat up on my own state. I was born and raised in St. George, Utah. My father was born and raised in St. George, Utah. So we love, we love this state. We love this city. We love, but it is very hard to attract talent to Utah. Right?
Jeremy: Because the big stars are not super interested in, and can we just call it what it is, our liquor laws. Our lack of nightlife. Very much like state religious kind of predominance. They are just not interested. And that is the same for BYU and University of Utah. University of Utah has done pretty well, but at the end of the day, I love my state, but it is just hard, right, to attract talent.
Carl: True, but I have to say that Donovan Mitchell has totally –
Carl: — revitalized the sports enthusiasm —
Carl: Can I say that?
Carl: — for the Utah Jazz. I love Donovan Mitchell. I love what he is all about. His on and off the court. He is a great, great face for the Utah Jazz.
Jeremy: Yeah, and they have come along.
Andy: To illustrate your point a little bit, Rudy Gobert should be an all-star right now. He did not get it, and I think, more than anything, is because he plays in Utah and not in New York City or LA or –
Andy: — somewhere else. And that is another reason why the great talent is not going to sign –
Jeremy: Not. It is, it is frustrating.
Jeremy: That is okay. That is okay. Here we are. We are here. We are live. St. George Real Estate Morning Drive. I am Jeremy Larkin, the host of the program. I have got, by the way, if you look on Facebook it says the insanely handsome Carl Wright. By the way, the insanely handsome Carl Wright joins us to share some trends that are not being told or shared, I should have said shared, by any other real estate professionals in town. And the reason I say this, it is not that it is going to be that controversial, but it is what we have been talking about, and there is this kind of, remember when you were a kid and you plugged your ears and said I am not listening, I am not listening –
Jeremy: — to your brother, sister, sibling, cousin. There is a lot of that going on right now in Washington County. A lot of I am not listening, I am not listening, I am not listening. Gang, we are inviting you this morning to actually save yourself a whole bunch of pain in 2019 by listening to what we have to say in this program. And the question that might come up, are they going to tell us that the market is crashing? No.
Jeremy: No, but, but, right, Carl? But there is information that people need to know if they want to make a good decision this year.
Jeremy: We are happy to be here. I am happy to have Carl here. Happy to have Andy Griffin here, who is not the new Mike McGary. He is Andy Griffin, and he is going to be fantastic. You moved here from where?
Andy: I have been in Southern Utah for 25 years. I grew up in Texas. In high school, my parents, much to my chagrin, moved to Salt Lake County and I told them flat out I am not going. I am staying here. I am going to stay with my friends. But when you are 14, 15 years old, you really do not get that choice.
Andy: So they actually sent me off to a camp and moved while I was gone.
Andy: I no longer had a home.
Jeremy: You were strong when you said you were not going even though you were going.
Andy: Exactly. And then, I have been kicking around Utah. Spent one year, way northern Idaho, Moscow, Idaho on a (indiscernible) there. The thing I did not like about Idaho is the thing I love about here. The clouds rolled in October and did not leave until March. It was gloomy. It is cold out there, guys, but it is a glorious, sun shiny day. I love it.
Jeremy: It is. I am a big mountain biker. And I would happily go out this afternoon, get a beautiful ride in, put an extra layer one. It is going to be high 40s. That is a cold day, but not a big deal. Right? By the way, Bryant Head Ski Resort, I have, just so everyone knows how I operate. The Bryant Head webcam is typically pulled up on, there you go, Carl. On my computer.
Andy: Oh wow.
Jeremy: It is just always up. Bryant Head, check this out. So I was up there over the weekend. They had 10 inches Saturday night, and I thought well, that was nice. They have had 35 inches since then. So 45 inches, almost four feet. Eagle Point Ski Resort is at 31 inches. Storm total. So if you are wanting to get up there and get some skiing in –
Carl: It is a good time.
Jeremy: — or snowboarding, I have got to say –
Carl: That is the wonderful thing about St. George is that you can enjoy —
Jeremy: Right. That is why –
Carl: — you can enjoy the sunshine and not having to shovel your walks, but 45 minutes you can be on the slopes.
Jeremy: Yeah, gang, I have absolutely biked and skied in the same day in St. George.
Jeremy: Many times.
Jeremy: So you can do that, and that is kind of why I segued that. I thought how fun is this that Bryant Head, by the way, an hour and twenty up, typically I am an hour and twenty up and an hour and fifteen down. It is always just a little quicker coming down. That is pretty static. I am an 85 guy on the freeway, cruise control, and it is an hour and twenty minutes to that resort, and I am talking on a stormy day it is an hour twenty. It is just kind of an hour twenty to go up there. So check that out if you are looking for some fun this weekend, but welcome, Andy. Where do you live now, by the way?
Andy: I live in Washington City.
Jeremy: Washington City.
Andy: Yep, a new subdivision. Hobble Creek subdivision, and I have a beautiful home and really enjoy it. My only complaint is where our backyard backs up to 300 East there in Washington, so we are kind of looking to get something that is a little more secluded, a little off the busy road.
Jeremy: You know exactly what he is talking about.
Carl: I do.
Jeremy: Yeah. I know people who can help you. But –
Andy: I know you do.
Jeremy: — do that when you are ready to do that.
Jeremy: Carl Wright. Welcome aboard.
Carl: Thank you for having me.
Jeremy: Yeah, I am happy to have you. We are going to have, so this is fun. We are going to have Carl today, and then we are going to have Carl and his entire team at my office at noon. His team, our team. Carl is with R1 Appraisals here in town. By the way, I need to have you guys go measure a home in New Harmony. That is after show, but –
Jeremy: — just so you know.
Carl: Love to do it.
Jeremy: We are listing an incredible, oh my goodness, incredible home in New Harmony. We will be placing this home on the market hopefully in the next week, and amazing views. Almost 5,000 square feet. Pretty cool home. So it has an entire detached guest house –
Jeremy: — and when I went in it, it is like country home, like going into my home I grew up in with my mother. It is interesting, Carl, this is probably a great way to start this off, is they had the home on the market for six months with another agent, and they are very frustrated. Right? With an agent from Cedar City. So if you are in New Harmony, I want you to think through this. They listed the home with a guy from Cedar City because it was geographically closer by the mileage. But the issue is New Harmony is not in Iron County. It is in?
Jeremy: Bingo. So what they did is they hired somebody on the Iron County MLS to sell a home that is actually in Washington County. Now I am sure the home was on both Multiple Listing Services. And when we list your property and sell a property, we are always on Washington, Iron, and Wasatch MLS. We kind of go for the trifecta. But they were frustrated and then as we dug into this, it looked like everything was fine, and at a glance. So we do what is called a home marketing audit. And by the way, if you are selling a home right now, very quick plug, but it is not selling. That is the key is if your home is on the market and it is not selling and you are frustrated, I invite you to visit, this is kind of fun, we have a page that we have never talked about. It is called Why My Home Won’t Sell dot com. Literally. Why My Home Won’t Sell dot com. Go in there and plug in your critical information. This is not a solicitation of your listing. It is what called a home marketing audit. Maybe you are someone whose home just came off of the market, and it did not sell. Right? Let us know, and what we do is we just do an audit. And the audit is we look at three factors, which are marketing, condition, and pricing. And then, Carl, you know because you are a professional appraiser, that underneath those three, that canopy of three are probably another fifteen items. Right? So either marketing, the story that was told about your home was not compelling enough or it was not told to enough people. The condition, either the condition, the staging, or the location or all three were such that it was not compelling to a buyer. And or, and maybe all three factors were present, or the price of your home was such that either just buyers said sorry, there is something better for us at that price. Or maybe it was bracketed in a way that they did not, they did not see it. But we did this audit, and what do you think we found when we started looking through the square footage? The main floor was wrong. The basement was wrong. The upstairs was wrong. It was not reflective of a guest house. There is an entire detached guest house that is completely legal on the property that is about $150,000 to build that was not advertised.
Carl: Not presented. Yeah.
Jeremy: So it looked like everything was fine at a glance. I said, man, I do not know why this home has not sold. Then when we dug into it, so how often do you see data, Carl, as a professional appraiser that is just not accurate?
Carl: Oftentimes. Our job as an appraiser is to sift through all of the information that is out there and try to come up with a realistic value. We are looking at everything from marketing time. We are looking at the square footage. That is why we do not ever rely on what the county says or the, as far as square footage, bedroom, bathroom count. That is why we go in and we assess the property. We measure the property so we know what your square footage is. We will come up with your bedroom bathroom count. We look at your condition, the quality. We look at from your roof to your foundation and everything in between to determine how the market reacts to what components you have in your home, and then we come up with a value.
Jeremy: Okay, so this is kind of a fun question. Real estate agents, typically when they go to put a home on the market, they pull the square footage from where?
Carl: They usually use the county.
Jeremy: Correct. They just go to the tax records, and they go well, it says it is 4100 feet. How many appraisals have you done in your life, because you go out and you laser measure, you digitally measure where the square footage you actually measured in real life matched the county?
Carl: Hardly ever. It is usually —
Jeremy: Like 5%?
Carl: — maybe, I would say less than 5%. We are usually a little bit smaller –
Jeremy: Crazy, right?
Carl: — a little bit bigger than what the county says, which is, we use the outside measurements. You use ANSI standard of measurement, which means we measure from the outside corner to the outside corner. So we are usually a little bit bigger than what the county says, which is beneficial to people who are selling their home because then you get the actual square footage of what an appraiser is going to be using as their measurement, and then you can market your home at a slightly larger –
Carl: — so it behooves you a little bit to get an appraisal or have somebody come measure your home to determine what your actual square footage is.
Jeremy: Well, and Robert MacFarlane commented, good morning, Robert, it was missing almost 900 square feet.
Jeremy: And it was 6 months on the market.
Carl: That is –
Carl: Let’s just say $100 a foot, right? That is $90,000 that they misrepresented in that.
Jeremy: Yeah, so this is kind of crazy. We are doing something we have not done in a while. We are taking this property on that was listed by another agent, and they came to us after it was no longer on the market. We are raising the price.
Jeremy: And we do not do this very often, but we are actually going to, we believe that we can sell this home for more money than they were asking previously.
Carl: Wow. And that goes against the trend I am seeing right now, Jeremy.
Carl: As I have looked at the market and looked at trends, we look at, as appraisers, we look heavily at absorption rates and months of housing supply and things like that. Something very interesting that I am seeing right now is 2018, there was a perfect storm. There were, interest rates were good. It was like the jet was taking off the runway –
Jeremy: Oh yeah.
Carl: — and we built speed all the way until September about, and I was talking to my business partner, Nick –
Jeremy: This is exactly what I noticed.
Carl: — and this is exactly how Nick put it is that the jet took off in September and started to level off in September of 2018, and now we are gliding.
Carl: We are in a gliding mode right now, and we are in a transitional from being a seller’s market to a buyer’s market. We are seeing more months, more time on market. We are going from about a two-month inventory of homes to a three-and-a-half-month inventory of homes in the greater St. George area.
Jeremy: So let me throw a perspective in here. And when Carl talks about months of supply, right, or absorption rates, what he is saying is well, two months’ supply is really simple. It is how long, there was enough housing that if no one else listed a property, now I want, this is really important, if no one else put their home on the market, it would have taken two months to sell them all. Correct?
Jeremy: The simplest way to look at it?
Jeremy: Well now he is saying well now, we are at three-and-a-half. This is what throws people off. Three-and-a-half-months’ supply is still really strong market. It is a really strong market. But the issue is we are talking about the inventory going from two to three and a half. Right? Three and a half does not sound like a lot, but an increase from two months to three and a half months is a gigantic increase.
Carl: It is a big increase.
Jeremy: Make sense, you guys?
Jeremy: It is not like three and a half is a big supply. It is going from two to three and a half is a massive jump.
Carl: Yeah, and I found some more statistics. I was looking at the Washington Fields area, this is right where you live, Craig. In the Washington Fields area, I was looking at homes –
Jeremy: Or Andy.
Carl: Andy. Sorry.
Jeremy: Craig just walked out.
Carl: That is right. I am sorry, Andy. I apologize.
Andy: That is okay. No worries.
Jeremy: Craig is on his way back to Parowan to play in the snow.
Carl: Washington Fields, 2000 to 2500 square feet, the months of housing supply 12 months ago was 3.26. Right now, currently, there are 6.25 months of supply in Washington Fields between 2000 and 2500 square feet.
Jeremy: But I thought Washington Fields was one of the best markets in town?
Carl: It is one of the best markets in town, but that means everybody is trying to sell their home, and so if you are going to be competitive, if you have got your home listed right now, you really need to analyze do I really want to sell my home. If I really want to sell my home, then I probably should reduce the price by, I would say, by 5%.
Jeremy: Bingo, brother. What did I say to you on the phone when we chatted?
Jeremy: 5%. Let me share something with folks here. Carl, I have got the Multiple Listing Service pulled up. Since January 1st, have you looked at how many properties I have listed, by the way? Washington County. And of course, I should say Washington County. This includes Iron County because it is on our Multiple Listing Service. So bear with me for a second. I am going to come in here to location and I am going to say Washington County since the first of the year. Now remember, folks, when you go to sell your property, you are saying I have the best home. Hey, I looked around. I looked at every, Andy, I was over there off of 300 East in Washington, I looked around. I feel like I have the best house on the quarter mile. That is nice. Here is the issue. 724 properties hit the market in Washington County since January 1st.
Jeremy: 700 competitors. Right? Sounds about accurate?
Jeremy: That is what MLS is telling me.
Jeremy: And by the way, I am talking about homes. I am not even talking about lots. If I talked about lots and water shares, there is another how many you think? A couple hundred?
Carl: Couple hundred.
Jeremy: 724 properties hit the market in Washington County since January 1st. Right? That is 700 new competitors that came to the market. Andy, how long have you lived in that house?
Andy: Seven years.
Jeremy: So you have been there seven years. The reason I asked is that is what I thought you said. A lot of our listeners have been in their property 5-7 years, 7-10 years, because a lot of people moved into the market. Right, Carl? Like ’05, ’06, ’07, ’08. Some of them ’10. But here is what is interesting. Values have come up since seven years ago in Washington County, Carl, what percentage you think?
Carl: I think we are right around 40%, 36%.
Jeremy: Since then. Close to 40%. So while Carl is telling us a story that is accurate and he is telling the truth, inventory is almost doubling. It doubled in Washington Fields. Right? We went from three to six months. At the same time, if I had told you seven years ago that your home value would go up 40%, the home values would go up 40%, how many homes would you have bought?
Jeremy: Every one of them, right?
Carl: (Indiscernible) Right.
Jeremy: You would have bought all the $5 bills for $3 that you could have purchased. Okay?
Jeremy: Right? Which is the math.
Andy: Makes sense.
Jeremy: We are saying hey, I have got a sale on $5 bills. They are on sale for $3. How many do you want? I want them all.
Jeremy: But we did not know that. Did we?
Jeremy: So talk to me about a trend here because seven years, I would love, I love that you are in studio at seven years. What seems to kind of happen every 6-8 years, Carl?
Carl: Usually, it trends up for seven years and then it trends down. And you look at –
Jeremy: It is biblical, by the way. Seven years of famine. Seven years of planting.
Carl: Right. If you look at the trends, we crashed in the third quarter of 2007. That is when the trend started to go downward here in Washington County. And it went down until 2011. In 2012, we started the trend upward, and how it went, what is the math? Seven years. 2012 is when we started to trend upward. Now, I am not saying there is going to be a big crash. I do not think there is going to be a crash, but we are going to be gliding through 2019.
Jeremy: How many appraisals have you done? You and your company?
Carl: Our company, since we have opened up in 2008, we almost 21,000 here in Washington County.
Jeremy: We have two minutes. Two and a half minutes. I want that to settle in for people. I have got Carl on the show today. 21,000 appraisals. You might want to listen. Right? You might want to listen. Here is what is so fun for me. Everything you are saying is echoing what I have been saying, which clearly makes me feel pretty happy this morning. So 5% across the board. We feel like values are probably 5% overcooked. We have seen inventory in Washington Fields double. Where else? Where else is inventory going up? Everywhere.
Carl: Everywhere. Everywhere, but not to be alarmed. I do not want this to be people that panic and think that there is, that I need to make a huge, a 5% price reduction is not a very big price reduction.
Jeremy: If I am a seller, what do I do today because I want to sell and take advantage of a great market?
Carl: You want to reduce it 5%. It is like chasing that ball down the –
Jeremy: We talked about this.
Carl: We talked about this. You do not, you just want to get ahead of the ball. It is going to calm down. Usually, our market is spurred by the Parade of Homes which is coming up next weekend. A lot of buyers come in. So we are going to see some more buying right in the next near future.
Jeremy: 60 days.
Carl: 60 days. And so, I suspect that jet is just going to coast through 2019. I do not see a big fall. I do not see a big rise. I see it stable for the next year.
Jeremy: What if somebody says I really do not trust my agent? I want to call you and get a third-party appraisal. What is it going to cost them and how do they call you?
Carl: We have got a variety of products that we offer people from $200 to $400 for a full appraisal for a typical home. If your home is a little bit bigger, we charge a little bit more, but that will give you a full valuation of letting us come in, and like you said, give you a diagnostic of why your house is not selling.
Jeremy: Yeah, and by the way guys, we talked about this fun website. I almost forgot for a while that we had even created it. We created it years ago. When the market was crashing, we created this page called Why My Home Won’t Sell dot com. And when you go there, it is just a home marketing audit. And all you do is plug in your information, and then what we do is not a solicitation of a listing. I want to be very clear about that. We simply look at three categories: price, condition, and marketing. And we diagnose it. Right? We do an audit. I know no one likes an audit. But guess what? Would you, again, Carl, if I told you seven years ago that your value had come up, and Andy and everyone in this room, 40%, you would have said are you serious? But people want their value to have come up 45% and now they are frustrated. Are people going to miss out on this market because they are clinging onto last summer?
Carl: Yes, they will.
Jeremy: It is going to happen.
Carl: You have got to look forward.
Jeremy: How do they call you, Carl?
Carl: Our phone number is 435-627-0019. You can talk to anyone of our appraisers, me, Nick Lyman, Evan Wilkins, Jerry Johnson, Kenny Rawlings. We have got a whole crew over there that can help you.
Jeremy: Yep, R1. Literally, R the letter, 1 the number. You can Google it. Thank you, Carl.
Carl: Thank you for having me, Jeremy. Appreciate it. It is always a pleasure.
Andy: Jeremy Larkin with St. George Real Estate here on News Radio 94.9, 890, KDXU. Thanks, Jeremy.