Q: What kind of market forecast should we expect for Seller's this year?
A: Well, the first answer always begins with a disclaimer about crystal balls and unknown market factors, but the truth is, no Realtor who has been active in this market for the past 5 years and has been successfully selling real estate over the past 2 years is going to tell you anything less than 2013 has a high probability of being gang-busters! Again. Our market is on fire!
Q: How do low inventory levels and low interest rates help sellers?
A: First of all, low inventories tend to drive home prices up, because there is more competition for the same house. (It's like tickets to the Superbowl; if demand is high and the number of available tickets is low--prices go up). And if the house shows well and is priced right, competition means that very often list prices may be reached in a Seller's Market--as opposed to low ball offers in a Buyer's Market. And low interest rates encourage both individual buyers and investors to "jump in" while the cost of money is so low. More buyers = more competition = rising prices.
Q: How does builder inventory affect sales?
A: We don't have a lot of direct competition for new home builders in the immediate area, but we are only a few minutes from communities like Sendero Springs and others--where Streetman Homes is building and selling new homes. In good times like we are having now, builders are selling homes faster than they can build them--at a premium. This does not hurt resells. Buyer looking for a new home are normally not going to be interested in resells. It is mostly a different market segment.
Q: We keep hearing that this is a "Seller's Market". Does this mean that Sellers can get any price they ask for a house?
A: Being in a Seller's Market means simply the inventory of available homes is lower than normal and/or buyer demand is high in comparison to inventory levels. While the market leans toward the seller, buyers are still cautious and careful. Buyers are more contentious and contemplative now than any time in recent past. Know your numbers, because Buyers and Buyer's Agents know their numbers. Don't price your home by guessing or by comparing your price to the listing price of a flier for a house on the street. This kind of strategy will not end in your favor.
Q: How does the Dell Computer privatization affect Round Rock Real Estate?
A: I believe this is going to be a good thing for Dell and for Round Rock as a whole. I spent many years in high tech corporate management and I believe that Michael's strategy here could be great for Dell and what is great for Dell can only be good for Wood Glen and Round Rock.
What do we do to get ready to sell?
First of all--Call me. Yes. You need my experience to help you get ready to sell your home. Run market analysis on your home. To tell you what buyers will expect from you. To help you understand what parts of what you learned on HGTV are going to help you sell your home and what is just going to cost you time and money. Homes that show well and are priced to market and get proper online market exposure, are selling. Homes that do now show well compared to the competition and are not priced to the market tend to languish in the market. You want to be the home that shows well and is priced well so you have the best chance of getting multiple offers.
My family and I have been resident home owners in the community for almost 10 years. I am sure we have crossed paths many times--let's get to know each other better.
You can reach me any time at 512.914.4665 or by emailing me at tim.thornton@ziprealty.com. Or give me a call and we can sit down and talk at your home. I look forward to meeting you and talking about listing, marketing and selling your Wood Glen Home.
