Monday, December 5, 2011

What Can I do to sell quickly in Today’s market?

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

Thursday, December 1, 2011

Why My House Didn’t Sell? Is the market that bad?

If you are asking this question that means that your house was either listed with a realtor or listed as For Sale By Owner (FSBO) didn’t sell. Getting phone calls from realtors the day the listing of your house expired telling you “we know why your house didn’t sell”? Others calling telling you “A house like this can be sold for $20,000 more”? OR Your asking price is way too high?

Honestly, I can’t tell you why your house didn’t sell without seeing it. There are many conditions that can be the reason for not selling. It can be the location, the condition of the house, the age, the upgrades, the floor plan, size of the yard, even a pole in the backyard can affect the price.

Location: Most of the buyers prefer houses that are in a cul-de-sac or a quiet neighborhood that is safe for the kids. If you are on a busy street or a busy street passing behind your house, that a negative point that has to be considered in the price.

Condition: When we are talking about condition, we are talking about the outside and the inside. Most homeowners maintain the inside and forget about the outside. The outside appearance is the first impression about the house. Many buyers drive around to see the area and how it looks from the outside before calling their agent for showing. Do you do regular treatment for termites and insects? Do you check the condition of the roof and foundation?

Upgrades: There is a difference between upgrades and maintenance. If your water heater is old and you change it, that a maintenance and is not a reason for a higher house price. Let’s think about it the other way, if you don’t replace the water heater, you will have to drop the price or give the buyer credit for it, but if you replace it, that will keep your house at the market price. Upgrade is changing the carpet with hardwood floors or laminate countertops with granite.

Foreclosures: Is there any foreclosed homes for sale or sold in the last 6 months in your neighborhood? Sold foreclosures can affect the market value of your house even if your house is in a better condition. Current foreclosures are your competitors in the market because banks price them to sell fast and noticed that many of them now drop their price every month, it can be an aggressive drop, $10,000 for couple of month and then starting dropping it by $5000.

These are just some reasons, it can be different from one house to another. So before you ask yourself why your house didn’t sell, check the competition, the condition, the location and if the price is matching accordingly. The price has to be the market price not just the price you want to get.

I hope that this blog is an eye opener for you and has some AHAs for you.


Jimmy Farag, REALTOR

Realm Real Estate Professionals

Phone: (832) 303-5000

Cell: (832) 744-7424

Fax: (281) 598-5402

Homes for Sale in Sugarland TX