It should be no surprise that we are seeing this kind of activity. When buyers from big markets like Los Angeles can sell their home and move to a less costly, desirable community, a real estate market like St George can change overnight.
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St George, UT (PRWEB) November 29, 2011
The St. George Utah new home market is heating up, especially at Entrada at Snow Canyon, a private golf course community that has weathered the great real estate storm of 2006-2010. Many Entrada new homes are currently underway, according to city building permit records and the community is on track to complete 60 homes for 2012 while recording a 1450% increase for 2011.
"It should be no surprise that we are seeing this kind of activity. When buyers from big markets like Los Angeles can sell their home and move to a less costly, desirable community, a real estate market like St George can change overnight. There is a ton of pent-up demand caused by the real estate blowout of 2006-2010. Couple that with a rapid decrease in inventory generated from out of town buyers and those two factors create a dynamic market for Entrada homes," stated Dara Tancredi, owner of Southern Utah Development and host of Real Estate Weekly on FoxNews 1450 AM/96.7 FM KZNU.
Riley Richardson, owner of Richardson Brothers Custom Homes with his brother Rick, have been building in St George Utah since 1993. "We have been through all kinds of real estate markets but the last few years have been difficult for all the area builders. There is definitely a change in attitude this year over last year. The Entrada community is particularly active right now. We are really pleased to be building custom homes throughout Entrada and new homes in the Toroweap neighborhood. Toroweap at Entrada has been quiet for a few years but now that there is new ownership of the remaining 43 lots, we expect to see a lot more activity."
Tancredi cautions those who are still waiting to get into the St George real estate market. "We did a radio show in November last year called "Micromarkets". During the show we identified a few distinct areas in St. George Utah, including Entrada at Snow Canyon, as an area that seemed poised for real estate growth due to its affordable luxury and amazing scenery. Since that show, the inventory at Entrada at Snow Canyon has diminished for both homes and lots. Home buyers looking for Entrada really need to look at new housing to find a home they really want. Out of town buyers have snapped up much of the built and standing inventory in the last 6 months and most of what remains are the less desirable listings or those creeping up in price. The moral of the story is .... you can wait too long."
About Southern Utah Development
Southern Utah Development is a real estate brokerage and development firm headquartered in Saint George, Utah. The principals of Southern Utah Development have an average of over 25 years of experience in commercial, residential and retail development and have owned and/or developed over $50 Million Dollars in real estate.
About Richardson Brothers Custom Homes
Richardson Brothers Custom Homes is owned by Rick and Riley Richardson who are third-generation custom home builders and master craftsmen. Together with their father and grandfather they have worked in the building industry for most of their lives. They have been creating custom homes in St. George and the surrounding areas since 1993.
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