Showing posts with label Market Advice. Show all posts
Showing posts with label Market Advice. Show all posts

Sunday, July 3, 2022

Unexpected Tips for Better Home Staging

 

Unexpected Tips for Better Home Staging

Unexpected Tips for Better Home Staging


Putting a home on the market can be a stressful experience. Sometimes it seems like homes sell almost before you can get them listed, while others appear to languish due to shifts in the economy and buyer enthusiasm. Fortunately, there are ways that you can increase the likelihood of your home selling even if the market isn’t at its best. One of these options is to improve your home staging so that potential buyers will be wowed by the property and want to make it their own.

Some people view home staging as simply making sure that everything is neat and orderly so that buyers can see the home at its best. While this is important, it’s not the only thing that you can do to improve the appeal of your home. Here are a few unexpected ways that you can make your home look better to prospective buyers.

Bigger and Brighter

When staging your home, you want to make sure that you not only present its best qualities but that you also reduce the impact of some of its less-great aspects. Take your bathrooms for instance. If one or more of the bathrooms in your home seem kind of small, try putting a larger bathroom mirror in there to make the whole room seem bigger. Also, hang it slightly lower if possible so that you don’t have a large mirrored surface looming over visitors’ heads; ideally, the center of the mirror should be slightly below eye level for the average person using it.

Another tip that can work in both bathrooms and any room that seems a bit too dark is to lighten up the walls to improve the overall brightness of the room. This can be as simple as replacing dark colored curtains with light white ones or adding white hand towels and decorative items to add light areas to the room. If you feel like taking in a larger project, add a couple of coats of paint in a light color that goes well with existing decorations, such as a light blue or soft light green.

Upscale and Comfortable

Tweaking your furniture and decorations is another way that you can improve your home staging and make your home a must-buy. If you wish that you had some more upscale furniture to show off, talk to developers that have model homes available in planned communities around where you live. Much of that furniture is used solely for staging, and excess pieces can usually be bought relatively cheaply since they’re considered used. Staging companies in your area may also have furniture available for rent or purchase under similar terms. The best part is, if you buy the furniture for your staging then you may be able to recoup some of your money by selling the furniture along with the house.

While you want buyers to like the way that your home looks, it’s also important that they think it looks comfortable and ready for them to move in. Add fluffy comforters and knit throws to beds, drape a soft blanket along the back of the couch, and add other little touches to make it look like the house is just waiting for someone to make it theirs. Just be sure that you remove photos and other personal items from the home before the staging since you want potential buyers to picture it as their house and not yours.

Knock Out Those Repairs

One last thing that you can do to improve your staging is to go ahead and finish some of the little repairs around the house that you never quite got around to doing. If you need a handyman or contractor to help, HomeKeepr can hook you up. Creating a HomeKeepr account is free, and you can use our app to connect with pros in your area to take care of the little repairs and improvements that will really help take your home from being on the market to being sold.



Saturday, October 16, 2021

What Do Past Years Tell Us About Todays Real Estate Market?

What Do Past Years Tell Us About Todays Real Estate Market?

What Do Past Years Tell Us About Todays Real Estate Market?

As you follow the news, you're likely seeing headlines discussing what's going on in todays housing market. Chances are high that some of the more recent storylines you've come across mention terms like cooling or slowing when talking about where the market is headed.

But what do these terms mean? The housing market today is anything but normal, and its still an incredibly strong sellers market, especially when compared to the few years leading up to the pandemic. With that in mind, what can previous years tell us about todays real estate market and if its truly slowing?

Were Still Seeing an Above Average Number of Sales

You may see headlines about a drop in home sales. But are those headlines telling the full story? The most recent Existing Home Sales Report from the National Association of Realtors (NAR) does show a drop of about 2% from July to August. But the month-over-month decline doesn't provide the full picture (see graph below):As the graph shows, historical context is key. Todays home sales are well ahead of some of the more normal years that led up to the health crisis. That means buyers are still in the market, which is great news if you're planning to list your home.

Houses Are Selling Faster Than Usual

When headlines mention the market is slowing, sellers may naturally wonder if their house will sell as quickly as they'd like. According to the most recent Realtors Confidence Index from NAR, homes are still selling at record speed (see graph below):Again, if we look back at data from previous years, we can see the average time on market 17 days means homes are selling faster than a normal pace.

Bidding Wars Are Still the Norm

The Realtors Confidence Index from NAR also shows a drop in the average number of offers homes are receiving in August, and many headlines may simply focus there without providing the important context (see graph below):Again, its important to compare todays market to trends from recent years. Currently, the average number of offers per listing is higher than 39 of the previous 45 months. That means the likelihood of a bidding war on your home is still high. And the number of offers your house receives can have a major influence on the final sale price.

So, Is the Market Slowing Down?

While there are slight declines in various month-to-month data, its important to keep historical context in mind when determining what's happening in todays market. Odeta Kushi, Deputy Chief Economist at First American, put it best recently, saying:

It’s not the white-hot market from earlier in the year & it’s not the 2020 market benefiting from a wave of pent-up demand but make no mistake this is still a hot housing market.

Bottom Line

Don't let headlines make you rethink listing your home this fall. Selling today means you can still take advantage of high buyer demand, multiple offers, and a quick sale. If you're thinking of selling your house, lets connect and discuss why this fall is the perfect time to do so.



Wednesday, October 13, 2021

What Do Supply and Demand Tell Us About Todays Housing Market?

 

What Do Supply and Demand Tell Us About Todays Housing Market?

What Do Supply and Demand Tell Us About Todays Housing Market?

There's a well-known economic theory the law of supply and demand that explains what's happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly.

Understanding the impact both supply and demand have can provide the answers to a few popular questions about todays housing market:

  • Why are prices rising?
  • Where are prices headed?
  • What does this mean for homebuyers?

Why Are Prices Rising?

According to the latest Home Price Insights report from CoreLogic, home prices have risen 18.1% since this time last year. But what's driving the increase?

Recent buyer and seller activity data from the National Association of Realtors (NAR) helps answer that question. When we take NARs buyer activity data and compare it to the seller traffic during the same timeframe, we can see buyer demand continues to outpace seller activity by a wide margin. In other words, the demand for homes is significantly greater than the current supply that's available to buy (see maps below):This combination of low supply and high demand is what's driving home prices up. Bill McBride, author of the Calculated Risk blog, puts it best, saying:

By some measures, house prices seem high, but the recent price increases make sense from a supply and demand perspective.

Where Are Prices Headed?

The supply of homes for sale will greatly affect where prices head over the coming months. Many experts forecast prices will continue to increase, but they'll likely appreciate at a slower rate.

Buyers hoping to purchase the home of their dreams may see this as welcome news. In this case, perspective is important: a slight moderation of home prices does not mean prices will depreciate or fall. Price increases may occur at a slower pace, but experts still expect them to rise.

Five major entities that closely follow the real estate market forecast home prices will continue appreciating through 2022 (see graph below):

What Does This Mean for Homebuyers?

If you're waiting to enter the market because you're expecting prices to drop, you may end up paying more in the long run. Even if price increases occur at a slower rate next year, prices are still projected to rise. That means the home of your dreams will likely cost even more in 2022.

Bottom Line

The truth is, high demand and low supply are what's driving up home prices in todays housing market. And while prices may increase at a slower pace in the coming months, experts still expect them to rise. If you're a potential homebuyer, lets connect today to discuss what that could mean for you if you wait even longer to buy.



Friday, October 8, 2021

If You're a Buyer, Is Offering Asking Price Enough?

 If You're a Buyer, Is Offering Asking Price Enough?

If You're a Buyer, Is Offering Asking Price Enough?


In todays real estate market, buyers shouldn't shop for a home with the expectation they'll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.

Things Are Different Today

Todays housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are:

  • Receiving an average of 3.8 offers
  • Selling in just 17 days

Homes selling quickly and receiving multiple offers highlights how competitive the housing market is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they sell for a lot more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains how these stats can impact buyers:

The imbalance between robust demand and dismal availability of for-sale homes has led to a continual bidding over asking prices, which reached record levels in recent months. Now, almost 6 in 10 homes listed are selling over the asking price.

You May Need To Rethink How You Look at a Homes Asking Price

What does that mean for you? If you've found your dream home, you need to be realistic about todays housing market and how that impacts the offer you'll make. Offering below or even at a homes asking price may not cut it. In todays market, the highest bidder often wins the home, much like at an auction.

Currently, the asking price is often the floor of the negotiation rather than the ceiling. If you really love a home, it may ultimately sell for more than the sellers are asking. That's important to keep in mind as you work with your agent to craft an offer.

Understand An Appraisal Gap Can Happen

Because of todays home price appreciation and the auction-like atmosphere in the selling process, appraisal gaps the gap between the price of your contract and the appraisal for the house are more frequent.

According to data from CoreLogic:

Beginning in January 2020, nationally, 7% of purchase transactions had a contract price above the appraisal, but by May 2021, the frequency had increased to 19% of purchase transactions.

When this happens, your lender wont loan you more than the homes appraised value, and the seller may ask you to make up the difference out of pocket. Buyers in todays market need to be prepared for this possibility. Know your budget, know what you can afford, and work with a trusted advisor who can offer expert advice along the way.

Bottom Line

Bidding wars and todays auction-like atmosphere mean buyers need to rethink how they look at the asking price of a home. Lets connect so you have a trusted real estate professional who can advise you on the current market and help determine what the market value is on your dream home.



Tuesday, October 5, 2021

3 Bedroom Homes for sale in Richmond TX 77406

3 Bedroom Homes for sale in Richmond TX 77406

3 Bedroom Homes for sale in Richmond TX 77406


3 bedroom homes for sale in Richmond TX 77406 make up about 45% of the total Richmond TX 77406 housing stock. This most common size of house is available throughout the city in every style - ranch, 2-story, multi-story and split level - in a wide range of sizes, from newly built to older homes. 

This popular size meets a wide variety of needs, from smaller families and singles to first-time home buyers and investors. And because many of these homes have basements, they can offer good options for an easy and affordable way to expand living space. 

We write market reports for 3 bedroom homes for sale in Richmond TX 77406 on a regular basis. If you'd like to check out the latest report, Click Here for Market Report for Richmond Texas 77406. 

As a popular choice for buyers, these 3 bedroom homes are in constant demand and will generally sell quickly. The current market is very competitive, and multiple offer situations are common, so buyers considering a purchase of this size home will benefit from some planning, having their financing in place and being able to move quickly. 

The inventory of 3 bedroom homes for sale in Richmond TX 77406 changes often, with new listings always arriving on the market. If you would like to follow the market for these homes, you can check this page frequently, or even better, let us help - we'll set up an on-going search especially for you, with your own customized web site - you will be notified as soon as new listings are posted. 

We're always ready to assist you with your home search, whether it's finding the right home, getting financing, or working through the home buying process. If you see a home that interests you, give us a call or text at 832-449-6061 - we’d be pleased to schedule a showing for you at your convenience. 

To see the complete list, Click Here or "View All Results" at the bottom of the Subdivisions / Neighborhoods / Communities links.

 

NEW! Neighborhoods / Subdivisions / Communities in Richmond Texas 77406 


Candela 

Builders: 

Coventry Homes 
Perry Homes 
Westin Homes 

  

Deer Run Meadows 

Builders:  

KB Homes 

 

Mandola Farms

Builders:  

Meritage Homes 

  

McCrary Meadows

Builders:  

Devon Street   
Lennar 
Westin Homes  

 

Talavera

Builders: 

Pulte Homes 

 

Harvest Green

Builders: 

David Weekley Homes 
Highland Homes 
Identity Homes   
Lennar Homes 
Perry Homes 

 

Stonecreek Estates

Builders: 

David Weekley Homes 
Perry Homes 
Westin Homes 

 
Popular Neighborhoods / Subdivisions / Communities in Richmond Texas 77406

 Bella Vista 
 Briscoe Falls
 Brynmawr Lake 
 Canyon Gate At Westheimer Lakes
 Canyon Lakes At Westheimer Lakes
 Canyon Springs At Westheimer Lakes
 Canyon Village At Westheimer Lakes 
 Colony West
 Covey Trails 
 Creekside Ranch 
 Crystal Lake Estates 
 Estates Of Brazoswood 
 Foster Creek Estates 
 Foster Crossing
 Glenwood
 Goldenrod Estates
 Grand River
 Harvest Green
 Horseshoe Ridge At Westheimer
 Hunterwood
 Huntington Oaks
 Lakes Of Bella Terra
 Lakes Of Mission Grove
 Pecan Creek
 Pecan Grove Plantation
 Pecan Lake 
 Pecan Lakes
 Plantation Place
 Richland Park
 Rio Vista
 River Forest
 Rivers Edge
 Rolling Creek
 Rolling Oaks
 Shadow Grove Estates
 Texana Plantation
 The Greens At Pecan Grove
 The Grove
 Waterside Estates
 Westcreek
 Whispering Oaks
 Woods Edge

 

View All Results








Monday, October 4, 2021

New Built Homes For Sale in Richmond TX 77406

New Built Homes For Sale in Richmond TX 77406

New Built Homes For Sale in Richmond TX 77406


If you are attracted to the idea of a brand new home - one that has never before been lived in, with everything new and sparkling - you'll want to take a close look at the new built homes for sale in Richmond TX 77406 listed below. These homes will feature newer design concepts and incorporate the latest advances in energy efficiency. And depending on where they are in the construction cycle, they may offer considerable flexibility in included finishes, features and extras, and possibly minor design modifications. 

Over the last couple of years, new home builders have become much more active again in the Richmond TX 77406 real estate market. Many new subdivisions and infill projects are under construction. The available inventory of new built homes for sale in Richmond TX 77406 is large and growing, and provides a wide selection of homes in most sizes and styles. Most new homes are priced in the $200,000 - $400,000 range. 

New home sales have been very good. If you would like to check out how these homes have been performing, we publish regular market reports on new built homes for sale in Richmond TX 77406 - you can access the latest at the bottom of this page. 

Since the availability of new built homes for sale in Richmond TX 77406 changes often, close attention will benefit a search for the right one. We can help - let us set up an on-going search especially for you, with your own customized web site - you'll be notified as soon as new listings are posted. 

We'd love to assist you with your search. Our extensive experience with new home sales, which can seem to be a complicated process, will make everything proceed smoothly and transparently. Please give us a call or text at 832-449-6061 with any questions you might have, and when you're ready to look at some new homes, we'd be pleased to schedule showings for you at your convenience. 

To see the complete list, Click Here or "View All Results" at the bottom of the Subdivisions / Neighborhoods / Communities links. 

 

NEW! Neighborhoods / Subdivisions / Communities in Richmond Texas 77406 


Candela 

Builders: 

Coventry Homes 
Perry Homes 
Westin Homes 

  

Deer Run Meadows 

Builders:  

KB Homes 

 

Mandola Farms

Builders:  

Meritage Homes 

  

McCrary Meadows

Builders:  

Devon Street   
Lennar 
Westin Homes  

 

Talavera

Builders: 

Pulte Homes 

 

Harvest Green

Builders: 

David Weekley Homes 
Highland Homes 
Identity Homes   
Lennar Homes 
Perry Homes 

 

Stonecreek Estates

Builders: 

David Weekley Homes 
Perry Homes 
Westin Homes 

 
Popular Neighborhoods / Subdivisions / Communities in Richmond Texas 77406

 Bella Vista 
 Briscoe Falls
 Brynmawr Lake 
 Canyon Gate At Westheimer Lakes
 Canyon Lakes At Westheimer Lakes
 Canyon Springs At Westheimer Lakes
 Canyon Village At Westheimer Lakes 
 Colony West
 Covey Trails 
 Creekside Ranch 
 Crystal Lake Estates 
 Estates Of Brazoswood 
 Foster Creek Estates 
 Foster Crossing
 Glenwood
 Goldenrod Estates
 Grand River
 Harvest Green
 Horseshoe Ridge At Westheimer
 Hunterwood
 Huntington Oaks
 Lakes Of Bella Terra
 Lakes Of Mission Grove
 Pecan Creek
 Pecan Grove Plantation
 Pecan Lake 
 Pecan Lakes
 Plantation Place
 Richland Park
 Rio Vista
 River Forest
 Rivers Edge
 Rolling Creek
 Rolling Oaks
 Shadow Grove Estates
 Texana Plantation
 The Greens At Pecan Grove
 The Grove
 Waterside Estates
 Westcreek
 Whispering Oaks
 Woods Edge

 

View All Results