The Market is HOT! You Need an EXPERIENCED Realtor Now More Than Ever!!!
Posted by Janet Owens on Thursday, March 20th, 2014 at 6:13pm.
Our Houston area real estate market is hot and has been for some time now. With limited inventory and an influx of home buyers into our market, the average sales price of a single family home is up 22% over the same time last year. The total number of active listings is down 15.9%, and the months of inventory is just 2.6%. Wow!!! New home starts are on the rise but had previously been so lagging that it will take some time for them to impact the demand in the housing market.
With all of that being said, now is the time when you really need an experienced Realtor - whether you're buying or selling a home.
For Buyers - If you're a buyer, you will want to:
- Have your pre approval letter ready to submit with any offer you make. Home sellers and their Listing Agents simply won't look at any offer that does not have a pre approval letter attached.
- Be prepared to pay list price or above if the property you're considering is in good condition, well staged, and in a desirable area.
- If you really want the home, your Realtor should structure the offer to not only meet your needs but those of the seller. It's not exactly a seller's market but because there are so many buyers out there, if you and your Realtor aren't on top of things, you may miss out. It's not always the highest offer that wins.
- There are many points to the contract that can be negotiated. An experienced Realtor will be able work through the contract and negotiate the best terms for you. Know your BATNA.
- Once the contract has been accepted and the inspectons have been done, you and your Realtor should look over the inspection report and decide which items you would like the seller to address.
- Keep your Realtor in the loop. Remember, just about the time you think the lender couldn't possibly ask for another item or explanation, they will. It's a long and frustrating ordeal but worth it in the end to get the house of your dreams.
For Sellers - If you're a seller:
- Don't think you can sell it yourself. Please don't think you can just stick a sign in your yard and voila, you have a buyer & you've saved yourself the Realtor fee. Think again because it's simply not that easy! Today's buyers are tech savvy and picky. They know a great presentation when they see one and they know when you're trying to pocket the Realtor fee.
- Remember, it's not really a seller's market. Buyers aren't just lined up waiting to buy anything at any cost. In order to sell homes quickly and for the most money, the home must be well maintained, updated, staged to show well, professionally photographed, and easy to shcedule showings with few showing restrictions.
- Don't use a Discount Real Estate Brokerage listing service that makes you take the pictures and schedule the showings. It looks so unprofessional!
- An experienced Realtor will take the time to help you identify what things you need to do to get your home ready to show or hire a professional stager to help prior to photographing.
- An experienced Realtor will hire a professonal photographer. First impressions are so important. With a whopping 92% of home buyers finding their dream home online, the pictures they see online are the first impression they see of your home.
- An experienced Realtor should understand the contract and know how to negotiate in your best interest.
- An experienced Realtor should understand that everyone has different real estate needs and goals. They should take time to find out what your goals are, and work to help you reach them.
Give me a call to find out how I can help you reach your real estate goals!