First, I would like to mention that the market in Houston was not affected as the rest of the country like Florida & California where you hear that the home prices dropped 50-60% and that foreclosures are more than 50% of the houses for sale in the market
In Houston, foreclosures are less than 10% of all the houses for sale. The distribution of foreclosures can vary by neighborhood. Some have had many foreclosures and some didn’t have any. Also, the demand within a specific price range can also affect the price.
To sell your house, first your house has to be priced right. Over-priced homes will stay, stay and stay in the market. If you list your house for $200,000 while it really worth $170,000, don’t blame the market or the agent.
If you drop the price over a 6 months period to $175,000 that doesn’t really mean that you gave up $25,000 and that the market is bad. You should have started with the $175,000 in the first place.
To get the highest price in the market, that means that the house has to be in the best condition. Prepare your home to be ready for potential buyers and keep nice, clean and organized to leave a good impression on potential buyers.
There are always ways to sell your home, please feel free to send me your questions, request a free market analysis for your house, or test the market for 45 days.
Check out home sellers guarantees.
Jimmy Farag, Realtor
Hotline (832) 303-5000