An inside look at the residential real estate market in Southeast Texas including: the hottest neighborhoods, proven home selling strategies, home buying and negotiating tactics, median prices by neighborhood, current school rankings, average days homes are on the market, and professional advice on how to get the best deal when buying or selling a home.
In Southeast Texas, on average, home sellers negotiate about 3-5% off their asking price when accepting an offer.
What factors affect how much a seller will come down and what makes a good offer?
1. Length of time on the market is the number one factor in determining how much a seller will come off their asking price.
If the house has been on the market less than two weeks, don't expect a seller to come off their price much.
Whereas, if a house has been on the market six months or more without a recent price reduction, then making an offer 10% below asking price might be accepted by the seller.
2. Market analysis is the second factor.
If the house is priced right compared to recent sales then don't expect the seller to have to come off their price by much.
Whereas, if there is no sales data to support the sellers asking price then there will be more negotiating room.
How do you know the length of time a house has been on the market and what comparable homes have sold for? Work with a professional REALTOR. List your home for sale with me and I will prepare a professional home valuation and marketing plan to help you get the best price for your home within a time frame that is acceptable to you.
Knowing a neighborhoods key home sales data is important when you are buying or selling a home. A few key things you want to know are: the average price, the average number of days it took to sell a home, and the cost per square foot most homes are selling for.
Today, let's look at Barrington Heights.
If you really want to take it a step further you need to look at the new construction prices vs. the resale prices. That is one professional service I provide to all my real estate clients. Want to know more about Barrington Heights or any other neighborhood in Southeast Texas, contact me and let's get started.
Where in Southeast Texas are homes selling the fastest?
In the overall market homes took 128 days to sell, for the homes that closed in March. Each neighborhood has its own average number of days it takes to sell a home. Look at the chart.
If you would like to know how long it takes on average to sell a home in your neighborhood just click the contact link or comment on Facebook. Tell me what neighborhood you want to know more about and you'll see the information you asked for on the blog in a future article.
Home sales in Lumberton averaged 85 days on the market in March. That's the fewest average days on the market of the areas in Southeast Texas where ten or more homes sold.
Here's a look at a few selected areas so you can see what's happening in the housing market.
Of the four areas shown on the chart only Lumberton home sales averaged fewer days on the market than the whole Southeast Texas housing market which averaged 128 days. Beaumont W4, Lumberton and Little Cypress all had a higher median price than the whole market which averaged $141,000.
In case you aren't familiar with the way Beaumont is divided into sections by the Beaumont Board of Realtors, Beaumont is divided in N, W and S sections and each of those sections has smaller numbered sections. Beaumont W4 has some of the following neighborhoods: Dowlen West, Fairfield, West Chase.
If you would like to know more about any neighborhood in Southeast Texas send me a message and let me know which neighborhood you want to know more about. Look for more areas coming soon.
The housing market is definitely picking up momentum as we head into the spring/summer home buying season. Have you seen fewer "For Sale" signs around recently? You are right. Inventory of homes for sale in down.
If you have been waiting to sell your home this might be the best time. Need to know what your home is worth in today's market, contact me for a professional home valuation. Its a service I provide at no cost for all real estate clients. Coming up in the next few days on the blog: What areas are selling the fastest. Log back in for more updates for sign up for the RSS feed on the blog that way you won't miss any important news about the local housing market.