When selling your home it’s tempting to overprice your property. Of course selling your home for the most money is the goal of most people. However, what we have found is much like a baseball player who swings for the fences you are more likely to strike out than hit a home run by significantly overpricing your house.

A great example of what can happen to a seller that overprices their home recently played out in our neighborhood.

Last summer we were hired to help a couple sell their home. We suggested they price their home at market value, which was $485,000. After being on the market for 3 days we received 2 offers for the home and settled on a price of $486,500. We were also able to negotiate a free 2 month leaseback for the sellers to stay in…

801 Views, 0 Comments

Read Full Post

The 2018 HBA Housing Forecast provided US and global economic statistics and outlooks from UT Economist Dr. Greg Hallman, local economic factors and forecasts on housing from 360 Analytics’ Eldon Rude, and insight into the constantly evolving consumer from Kantar Future’s Lindsay Kunkle. Below are some takeaways from the conference, held at the AT&T Center on the UT campus on January 31, 2018.

Global and US Economy
Dr. Greg Hallman gave some statistics of what overall seems to be a healthy economy that is back to “full potential.” He predicts GDP growth of 2.5-3% in 2018 as we continue this long (101 month) period of expansion. That optimism is provided by the low unemployment rate across all levels of education, wage growth (although slow is outpacing…

867 Views, 0 Comments

Read Full Post

Every year in January buyers will tell us they are not in a hurry and will wait for their lease to expire later in the year.

 

This strategy will be a mistake this year for 2 reasons.

#1 – Rising Interest Rates

Interest rates are up almost .5% since January 1. Last week I attended a presentation from an economist who predicts interest rates may be over 5% later in the year.

#2 – More Homes Will Be For Sale Earlier This Year

Smart sellers are watching what’s happening with interest rates and are pushing up the date to list their homes. A real estate rule of thumb especially for larger homes has been to list after spring break. This year we are seeing more larger homes listed in January and February.

What that means is if you are…

835 Views, 0 Comments

Read Full Post