Home Won’t Sell? Check these things…

If your property has been sitting on the market for a while, don’t blame buyers. Re-evaluate your strategy. Take a look at what you’re offering and see how you can make your home more attractive and increase your chances of a sale.
Is it overpriced?
Overpriced properties discourage potential buyers, who may not even view the property if they think it’s worth much less than the asking price.
This doesn’t mean that you should underprice your home, but you should put some thought into pricing your home to sell. If you suspect your house isn’t selling because you’ve asked too much, ask your Texas Realtor® to conduct a new market analysis and decide whether to lower the price.
Properties priced too high sit on the market, and buyers often assume there’s something wrong with them. If your listing has become shopworn, look at reducing the price or offering incentives. These strategies may help pique buyer interest.
If you think your home is appropriately priced and everything else seems to be in order, it could be that the market has changed since your initial listing. It’s important to understand the state of the current housing market and to stay on top of what’s happening in your neck of the woods, which is where a Texas Realtor® can be so effective.
Is it accessible?
Most sellers opt for a lockbox to make it easy for buyer’s agents to access your home. Without one, agents representing buyers are forced to work around your schedule, setting an appointment to gain access and view your home. That may prove too much of an obstacle for potential buyers.
Additionally, imposing restrictions on the times the home is available for showings can dissuade traffic. Your house probably isn’t the only one a potential buyer is going to view. If your house can only be toured after 2 p.m. on Tuesdays and Thursdays, you’re reducing the number of potential buyers.
Does it need repairs?
You say it’s a “fixer-upper.” Well, those typically sell for substantially less than other properties. Maybe you’ve already accounted for your home’s condition in the price, and it’s still not selling. You may want to look at making major cosmetic repairs or review ways to improve serious maintenance problems. You might also entice buyers with a cosmetic allowance. A cosmetic allowance is money allocated by the seller to the buyer to offset the costs of repairs. If you already offer a cosmetic allowance but buyers still aren’t biting, you may want to consider fixing major problems and removing the allowance.
Is it your neighbor’s fault?
Nearby homes and neighborhoods can significantly affect the value of your property. If you believe the condition of your neighbor’s property is stifling your opportunity for a sale, it’s time to address the situation. It’s important to open the lines of communication and look for a win-win solution. The sooner you do this, the better your chance of success. Voice your concerns to the property owner and see if you can resolve the problem. If the condition of the neighbor’s property is affecting the entire neighborhood, get everyone to work together to find a solution. If feelings get hurt and the problem escalates to name calling or worse, you may need to bring in a neutral party, such as a friend or community arbitration board.
You can also review local laws and zoning ordinances. If your neighbor has a disabled vehicle in the front yard, a typical “junk vehicle” ordinance may apply.
Many factors may affect the sale of your home, including price, condition and location. If your property is shopworn and potential buyers are just not coming around, sit down with your Texas Realtor® and discuss measures that may boost your chance of a sale.
For more on selling your home, I invite you to visit TexasRealEstate.com.

Take The Stress Out Of Buying A Home

Which emotion surges higher when buying a home … excitement or anxiety? You will probably experience both during the homebuying process. Imagining the possibilities of your new house can bring great joy, while the financial implications of making such a purchase can create worries. Take these steps to reduce the stress, though, and you will be able to focus on the enjoyable aspects of buying a new home.
Get ready
Long before you start walking through properties, you can lay the groundwork for a good homebuying experience. The sooner you start saving for a downpayment the better. Having some money to put toward the purchase gives you more flexibility when it comes time to get a loan.

You’ll want to check your credit report, too, to see if there are any mistakes or problems you can clear up prior to applying for a mortgage. You can request one free credit report annually from each of the three credit-reporting companies by visiting AnnualCreditReport.com.

Speaking of mortgages, learning about various types of loans and assistance programs will give you the knowledge to find the right loan for you – one that you will be able to afford for the life of the loan. You can research whether you qualify for any assistance programs at TxHomePrograms.org.

Finally, you’ll put yourself in a strong position by getting pre-approved – not just pre-qualified – for a mortgage. And don’t necessarily jump at a high loan amount just because someone says they will lend you that much. Take a hard look at your own finances and future plans to make sure you are living within your means.

What do you want?
Do you see yourself in a ranch-style home in the suburbs? A downtown loft apartment? A neighborhood where you can walk your kids to school?

Take the time to figure out what features are most important to you. You will also find it helpful to decide if there are some items you desire but might be willing to look past if everything else falls into place. Once you can determine the must-haves, you can quickly make decisions about which properties to view.

Get someone on your side
Buying real estate is much more involved than most other transactions – even high-dollar purchases like automobiles and stocks. It can be a tremendous help to have a professional looking out for your best interests along the way.

I’m sure it won’t shock you that I recommend hiring a Texas Realtor®. Your Realtor® can explain the entire process, help you negotiate, keep the transaction on track, and make sure you have the information you need to make good decisions.

Understand what goes into an offer
There’s much more to a good offer than deciding what price you’re willing to pay. Before you start searching for homes, talk to your Texas Realtor® about earnest money, option periods and fees, inspections, contingencies, closing time frames, and other factors that may make your offer more attractive to the seller while protecting your interests.

Don’t let up after your offer is accepted
Not every transaction successfully progresses from an accepted offer to a closed deal. However, you give yourself the best chance of getting the keys to your new home if you and your Realtor® stay on top of the deadlines and tasks to move the process forward.

If you have questions during this period, ask as soon as possible. You want answers long before you get to the closing table.

Buying a home should be an exciting time in your life. If you plan well and work with people who are looking out for your best interests, you can minimize the pressures involved and enjoy the process of purchasing a new place to call your own.

For more information, I invite you to visit TexasRealEstate.com.