So you tried to sell your home in Houston and it didn't work out - you hired an agent who listed your home on the MLS and then ... crickets. You are rightfully concerned and might be wondering why. There are 7 probable reasons why your Houston home didn't sell:
Your Home Was Priced Incorrectly
There's a good reason why your home's price is first on this list. When you price your home above its true market value, the chances of a sale are severely impacted. No matter how pretty or how masterfully marketed, an overpriced home will struggle to sell. Or worse, it will help sell the competition because in comparison other homes will look like a good value. Don't misunderstand my point: If your home's upgrades are nicer than average, you should try to maximize the sales price within the range of prices in the area. However, what you shouldn't do is price it above that level.
Prospective Buyers can't Access Your Home
All the greatest marketing in the world can do is to get a prospective buyer interested in looking at your home. But until they get to see it, there’s no hope for an offer. Lose lengthy prior notice requests, restricting showings to weekends only etc. Make your home as easy to access as possible and maximize your selling chances.
Your Home Doesn't Show Well
The way your home is presented to prospective buyers during showings is crucial in getting that offer. Lose the clutter, give every room a purpose and arrange the furniture to allow for pluses in your home to show and shine. Or you can hire a staging pro and have them do it for you. Staged homes sell faster and for more money. Presentation is all about giving Buyers a glimpse of what their life in the home might be like.
Your Home has Been...
Our Featured Listing this week is a three-bedroom, two and a half bath home in highly sought-after Stablewood Farms in Cypress, TX.
Zoned to Cy-Fair ISD, this home is located just north of Hwy. 290 off Huffmeister Rd.
The open floor plan features laminate wood flooring downstairs. Custom cabinets, tile backsplash and all black appliance adorn the kitchen. Gather your family at the breakfast bar or around the table in the breakfast room for a quick morning breakfast. You will love dining in the evening in your formal dining room. Enjoy solitude in the comfort of your master suite which boasts a separate soaking tub and shower, double sinks, and walk-in closet. Snuggle together in the upstairs game room for family movie night. This home is the perfect home for a growing family!
Follow the link below for more photos and details.
15535 Echo Stable Ln.
Call 936-714-6913 to schedule an appointment to view this or all Cypress Homes for Sale today!
At the start of 2017, the Houston economy was showing positive signs due to the recovery of the struggling energy sector. As oil prices stabilized around the $50/barrel mark employment numbers improved. The stronger job market resulted in an increase in demand for properties for sale and rent in the Houston Area and the real estate market reaped the benefits.
WTI Crude Oil Prices - 10 Year Daily Chart
In late August, Hurricane Harvey brought unprecedented rainfall and flooding to the Houston area. As a result, the local economy was disrupted as companies put hiring on hold. At the same time, the supply of available properties was reduced overnight and the demand for unaffected homes to buy or rent skyrocketed. Houstonians banded together, helped each other in this time of need and showed the world what it means to be #HoustonStrong.
Just 45 days later, home sales recovered and the rental market hit record territory. The Houston real estate market ended the year on a positive note entering 2018 with plenty of momentum.
Houston Real Estate Market Key Points in 2017
According to the latest report released by the Houston Association of Realtors:
- Sales of all property types in 2017 totaled 94,726 units, a 3.5-percent increase over 2016’s volume.
- The average price of single family homes rose 2.9 percent to $291,340 while the median price increased 3.8 percent...
Our Featured Listing this week is a one-bedroom condo in a gated community in the heart of Medical Center 2255 Braeswood Park #147 offered for sale at $149,900!
Braeswood Park Condos for Sale
Nestled off of Kirby and Main, it is all about LOCATION! Braeswood Park is a community with mature trees, exercise room with state-of-the-art equipment, and a sparkling pool. A short commute to the Med Center, Rice University, or Reliant Stadium you will have the best of Houston in your backyard! This one bedroom Med Center condo features granite countertops in the kitchen and the bath, wood-look flooring in the living areas, a large bedroom, and walk-in closet, and so much more! Ample parking within the complex and close proximity to Metro makes getting around a breeze for any type of commuter.
Follow the link below for full photos and details:
Medical Center Condo for Sale
Call us at 713-952-3200 to schedule an appointment to view this or any other Houston Medical Center condo for sale today!
The weekend is here and it brings with it the age old question: What fun things could we do together as a family? That's why I have put together a handy list of the Best 5 Things to Do with your family in Cypress Texas. Let's dive right in!
The Boardwalk at Towne Lake
You'll always find something to do at The Boardwalk. Go boating in your backyard, enjoy dining at waterfront restaurants, lakeside concerts, casual shopping and experience wellness on the water. From weekly events for the family to enjoy to specials offered by retailers and restaurants, The Boardwalk at Towne Lake is Northwest Houston’s premier attraction. The Boardwalk at Towne Lake is conveniently located at 9945 Barker Cypress Rd.
For info on upcoming events, visit The Boardwalk at Towne Lake
Houston Premium Outlets
Experience the ultimate shopping extravaganza at Houston Premium Outlets. The vintage style mall offers 145 designer and name-brand outlet stores. Relax at the outdoor courtyards or stroll from shop to shop along the covered walkways providing an all-weather shopping experience. Just off Hwy. 290 West at 29300 Hempstead Road, you will enjoy upscale outlet shopping from a wide range...
Our clients often ask us where should they buy in Cypress, Texas so we have put together a list of the top 5 newer neighborhoods in the Cypress, Texas area.
Alder Trails is a 155-acre community with two lakes with gorgeous walking trails. The community offers residents prime location just off Barker-Cypress Road between Queenston Boulevard and Cypress N. Houston. Alder Trails is near highly acclaimed Cy-Fairbanks ISD schools and surrounded by restaurants, shopping centers, entertainment venues, medical facilities and more. Homes range from the $200s to $800s.
Search Alder Trails Homes for Sale
Bridgeland is a masterfully planned community of 11,400 acres in northwest Houston located at Hwy 99 & 290. Centrally located in the community is the Lakeland Activity Center, with a resort-style pool, tennis courts, playground, fitness center and spacious community center. Residents can enjoy an abundance of activities such as a disc-golf course, fishing, dozens of parks and nature trails, Water Haven Spray Pad and use of canoes, kayaks and other recreation equipment. Upcoming, 20-acre community park will feature an enclosed dog park, a basketball court, canoe launch and a skate park. Additional tennis courts, picnic areas, walking trails and pavilions also are planned for the park, as well as a new splash pad, playground and heated lap pool, which...
Our clients often ask us where should they buy in Spring, Texas so we have put together a list of the top 5 newer neighborhoods in the Spring, Texas area.
Gleannloch Farms is a master planned community nestled 30 miles northwest of Houston, Texas along the newest extension of The Grand Parkway. Residents of Gleannloch Farms can take advantage of three recreation centers with pools and sports facilities, take in a round of golf at the prestigious Gleannloch Pines Golf Club, or take a riding lesson at the Equestrian Center. Gleannloch Farms is zoned to Hassler Elementary, Doerre Intermediate, and Klein Cain-all Exemplary schools in the highly-sought after Klein School District. With homes starting in the lower $200’s to $1.7 Million, there is something for everyone in Gleannloch Farms.
Search Gleannloch Farms Homes for Sale
Auburn Lakes is master planned community North of Houston, Texas that strikes the perfect balance between seclusion and convenience with it’s mature trees, walking trails, lakes, and easy commuting to Houston, Texas and The Woodlands, Texas. Auburn Lakes residents enjoy access to Augusta Pines Golf Club- a full service private membership club with fine dining restaurant, and an 18 hole champion golf course. Auburn Lakes is zoned to Exemplary schools in the acclaimed Klein School District-French Elementary, Hildebrandt Intermediate, and Klein Oak High School. Homes in Auburn Lakes start at the low $300’s to the $800s+.
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and housing market is strong. That means home values and mortgage rates...
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.