About the real estate market in The Woodlands (June 2013)
It’s no secret! IT IS a Seller’s Market on pharmaceutical grade steroids. Houston in general is the new real estate darling (for sellers) and opportunity mecca for everyone. You can read all newsworthy buzz HERE.
Real estate economists tell us that six months supply of available For Sale Listing Inventory represents a balanced real estate market. The smaller the Months Supply Of Inventory the more muscular the Seller’s Market. Here’s the Months Supply Of Inventory picture. If six months is balanced, what is one and half months?
selection inventory is super thin and what comes on the market sells fast, the question is, what’s it going to take for you to become the winning buyer?
What Buyers Need To Know Before Writing A Wining-Offer.
From June 1st to June 28th at 10:05am there have been 229 Sold and Closed Properties in #TheWoodlands. More than 1 in 3 of the 229 homes SOLD at or above List Price. [89 out of 229 or 38.86%]
If you want to WIN you’ll have to be aggressive and smart. 1 in 3 SOLD in less than 7 days. [83 out of 229 or 36.2%]
Of the 229 SOLDS 33 sold over list price and 56 sold at List Price. Offering Full List Price or Above List Price may not be stupid, it’s a winning strategy for many.
Below is snap shot of the six-page list of all The MLS sold and closed homes reported for The Woodlands from June 1st to 28th. The yellow highlighter shows all the closed sales at list price or above list price. The pink dots represent closed sales above list price. If you want to a look at all six pages of oh-my-wow data
send me an email or call me CLICK HERE.
Now that you’re armed with the knowledge of today’s market reality here’s a few tips
What Buyers Need To Do To Submit A Winning-Offer.
Home Search, Selection and Inventory: It’s thin. When fresh inventory hits the market you’ll want to know about it pronto. To keep from losing out, have your trusted real estate agent set you up with an email auto-notification based on your unique and specific requirements. With our new Fusion MLS system when a listing agent enters their shiny new listing data, property photos and information into the MLS system and hits the This-New-Listing-Is-Officially-On-The-Market button, within a few heart beats you will receive an instant email alert. It doesn’t matter if the new listing goes live at high noon, midnight or anytime in-between you’ll know about cool, hot new listings that meet your personal criteria before the uninformed and slow-moving tortoise like masses. Now that you know before your
bidding against you home buying competitors everyone else, move swiftly. Stories about hot new listings hitting the market and attracting multiple showings and offers on the first or second day are not exaggerated. Move fast and you’ll be moving in. Congratulations!
We’re seeing more and more off the MLS radar inventory sold via jungle drums, whisper campaigns and real estate agent grape vines. Savvy listing agents prepping a new listing for market and always-on selling agents are exchanging phone calls, texts and emails about upcoming inventory. We’re seeing many properties sell privately before they hit the MLS mass market. Ask your trusted real estate agent to bang a drum, send emails to known top listing agents, put a ear to the ground, make some phone calls and see if they can learn about fresh soon-to-be-on-the-market listings before everyone else.
Expectations and Behaviors: Put yourself in the shoes of a seller. In a seller’s market what are they seeing,thinking and feeling?
- Prices are rising.
- Construction cranes everywhere.
- Daily news about how awesome the Greater Houston Area real estate market and economy is.
- Rich corporations are moving their offices, headquarters and high paid employees to town – thinkExxon/Mobil, Anadarko, etc.
- Inventory is at an all time low and homes are selling faster than ever.
Sellers are smiling, knowing it’s a seller driven market. Understanding the mindset of the seller and their listing agent will help you and your agent successfully navigate your home buying experience, eliminate lost opportunity, buy at a fair price and move into your new home with a smile too.
When you find your dream home don’t drag your feet, hem or haw. Hustle pays off. In this market a tortoise won’t win the race. Be prepared to pull the trigger, be a bullet and submit your offer.
It won’t happen every time, but anticipate competing offers and consider
adjusting sweetening (without souring your satisfaction) your offer accordingly. Values are risings, don’t wring your hands over a few thousand dollars. Even though mortgage rates are on the riste today’s insanely low mortgage rates make affordability a once in a life time gift. For every thousand dollars you borrow on a thirty year mortgage your monthly payment will rise a measly six or seven bucks or so. That means if you and the seller are ten thousand dollars apart from an agreed up price, you’re really not talking about ten thousand dollars, because you’re financing your purchase you’re really talking about sixty bucks more a month. Come on now. What’s the big deal. If it’s the property for you and yours, make your move. Remember, odds are if it’s new on the market and it’s an attractive enough property for you to be interested, no doubt other qualified buyers will be attracted too. Those other people are your competition! Don’t let them drink your milkshake. You will begin to build equity by owning now, not looking and waiting for deals and steals – they don’t exist.
Don’t be embarrassed, too prideful or penny wise and pound foolish to offer full price. In this market we are seeing offers submitted at or slightly above list price. These committed buyers usually walk away with prize. When you find what you like, it’s fine to end the home search tour and put in an immediate offer. If you
like it love it, buy own it. Plus, keep in the mind the mortgage company will complete a property value appraisal. If the property doesn’t appraise for the contract price you can always bail or renegotiate.
Terms Of Purchase: To hone an edge and stand out in the sellers eyes consider sweetening the terms of your offer.
- Larger down-payment.
- Bigger earnest money deposit.
- Short trigger point deadlines and exit clauses for things like the Option Period and days for financing approval.
- Provide the seller with written mortgage pre-approval from your lender.
- Flexible closing date.
- Possible seller lease back.
- A personal letter to the seller sharing a little bit about yourself and your situation sometimes helps the seller choose one bidding buyers offer over the other.
Inspections and Repairs: After your contract is executed you’ll have an opportunity to have the property inspected. Because you’re not buying a brand new home it’s common to turn up a long or short list of items that aren’t perfect. Understand
accept that in a seller’s market a seller is less inclined to pay for the repair of cosmetic items. Have your agent get a bid on the inspection items you’d like to have completed. If the seller won’t pay for them don’t get angry or take your eyes off your prize, your real estate agent will have the names and numbers of reputable repair and home improvement people who can get the job done for you fast and affordably. Or if you’re a DIY kinda person, go for it. Don’t lose out because the seller won’t make the property perfect or spend a few hundred dollars in cosmetic type repairs. If you like it, buy it own it.
The bottom line for buyers.
Use these tips and you’ll successfully navigate today’s new strong-like-bull seller’s market realities with a smile and success. Good luck, speed and grace. If we can be helpful – Ken Brand 832-797-1779.
I’m thinking of selling, what about me?
Good news! You’re in the right place and the right time. But you can still lose money if you don’t play your cards right and take advantage of today’s Seller’s Market by using some savvy strategy. Consider THIS.
Thanks for reading. Send me text if I can be helpful – Ken Brand 832-797-1779.
Icon Agent Top Performers, April 2013 | Better Homes And Garden Real Estate Gary Greene | The Woodlands and Magnolia Marketing Marketing Centers
It’s official! In April more people choose our supreme and hardworking team members to help them make a move than any other month in the history of our office and company. Several of our brother and sister offices throughout Houston had world record success and the company has it’s most productive month in our 50 year history.
We’re so fortunate to live in Texas, Houston and of course The Woodlands. Thank you everyone for all your extra efforts and a super-hug to all the people who entrust their real estate futures to us. We promise to BE BETTER on your behalf. Thanks so much.
Fact: It’s A Strong-Like-Bull Seller’s Market.
There’s a mad scramble for fresh salable listing inventory. Qualified buyers can’t find what they’re looking for. Available listing inventory is at an all time low.
Getting your property under contract in this market is amateur easy. Getting your property SOLD for the highest possible price is the pro’s challenge. Why leave money on the table? Why lose out on maximizing your hard earned equity? Thankfully, you don’t have to.
Choose a pro real estate agent backed by a savvy Be-Better Marketing-Action-Plan that can net you thousands of dollars more at the closing table.
Our Sold Price To List Price Percentage (according to HAR MLS closed sales data) leads the market in seller success. This means we sell properties (similar to yours) for higher prices, netting sellers (like you) more money.
If you’re thinking about selling we’d like to share how our Be-Better Marketing-Action-Plan can help you WIN bigger and net more money at closing too.
Call, text or eMail me to learn more: Ken Brand 832-797-1779
Listen, I bet you helped plenty of people find a rental property in 2012. Many of the people you helped were well qualified to buy but didn’t or couldn’t because they were unable to sell their home or properties in other cities and states. Or they rented because they wanted to get the lay of the land. You’re familiar with that story aren’t you?
Well, great news for everyone. Real Estate Markets across the country are heating up and properties that once languished are selling and closing.
All of this means that your past rental clients may now be in a position to buy and chomping at the bit to do so. They realize what you know, in most of our market areas they can buy what they would like for less than the rent they are paying now.
Here’s what I recommend, get on the phone and call them, see what’s up, find out how you can help them get into the market so they can enjoy the personal and financial benefits of owning instead of enriching their landlord.
Don’t eMail. Don’t mail a letter or a not. Go Pro. Go In-Person. In-Person person, by phone. Do it now. Thanks and all the best.
If you don’t see the Youtube video below - CLICK HERE.